Sinclair Broadcast Group Closes Fisher Communications Deal
Tim Brugger, The Motley Fool
Following the approval by Fisher Communications shareholders on Aug. 6, Sinclair Broadcast Group has announced the acquisition of Fisher has been completed. The deal calls for Fisher shareholders to receive $41 per share, valuing the acquisition at an estimated $373.3 million, less "acquired working capital," Sinclair said.
The broadcasting assets Sinclair received in the deal include 22 television stations, primarily located in the Northern California and Pacific Northwest markets, along with four Seattle, WA. radio stations, according to the company.
Sinclair also stated that, with the closing of the Fisher acquisition, and assuming other deals that are in the works are consummated, on a pro-forma basis, Sinclair-owned television stations will reach approximately 38.2% of U.S. television households.
Sinclair first announced its intention to acquire Fisher on April 11, 2013.
The article Sinclair Broadcast Group Closes Fisher Communications Deal originally appeared on Fool.com.
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