One of the nation’s largest local TV broadcasting companies has inked a deal to purchase WJAC-TV and four other stations.
Maryland-based Sinclair Broadcast Group, which owns, operates or is affiliated with 87 stations in 47 markets, announced Monday it has entered into a deal with WJAC parent company Cox Media Group to buy the stock and broadcast assets of five stations for $99 million, less more than $4.3 million in working capital adjustments.
Cox Media said in a press release that the move was one step in an ongoing effort to focus on fewer and larger media markets.
Sinclair expects to close the deal in the second quarter of this year. The deal would give it more than 90 mostly small- and mid-market stations across the nation, the company said.
The sale must be approved by the Federal Communications Commission before becoming final.
Other stations involved in the deal include: KRXI and KAME, both in Reno, Nev.; KFOX, based in El Paso, Texas; and WTOV of Wheeling, W.Va./Steubenville, Ohio.
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