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Sinclair Broadcast closes $240M deal for Bonten Media

Sep. 05, 2017 9:21 AM ETSinclair, Inc. (SBGI) StockBy: Jason Aycock, SA News Editor1 Comment
  • Sinclair Broadcast Group (NASDAQ:SBGI) has closed on its $240M deal to acquire Bonten Media Group Holdings.
  • As part of the deal, its Cunningham Broadcasting closed on its purchase of the membership interest of Esteem Broadcasting.
  • The deal had been reached in April. It was closed through cash on hand. Sinclair adds 14 TV stations in eight markets in the deal, and Cunningham assumed joint sales agreements under which Sinclair serves four more stations.
  • While a separate entity, Cunningham Broadcasting is closely tied to Sinclair, with more than 90% of its stock controlled by trusts in the name of Sinclair founder Julian Smith's children.

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