Sinclair to Sell TV Stations in Bid to Secure Tribune Deal Approval

Sinclair Broadcast Group has reached deals to sell nearly two dozen television stations as it works to get regulators to sign off on its purchase of Tribune Media. Sinclair said that the move to sell the 23 stations in 18 markets, some of which are owned by Sinclair and some by Tribune, was needed to obtain government approval for the $3.9 billion purchase of fellow television-station owner Tribune. Sinclair said the stations are being sold to various parties, includingStandard Media Group LLC, Meredith Corp., Howard Stirk and Cunningham Broadcasting Corp., as well as another party yet to be disclosed. Once the stations are divested, Sinclair will still have agreements to operate many of the stations for their new owners. After the purchase of Tribune stations and deals, Sinclair said it would have 215 stations in 102 markets in its fold.

• Standard Media, a New York-based limited liability company, said it was purchasing nine stations for $441.7 million.
• Meredith said it would buy KPLR in St Louis for $65 million.
• One of the buyers of the divested stations is Armstrong Williams, a prominent conservative commentator. Sinclair would sell Williams stations located in Seattle, Salt Lake City and Oklahoma City.
• The buyer of stations in Houston and Dallas is Cunningham Broadcasting Co., which is named after the mother of Sinclair's executive chairman, David Smith. Those stations will also be operated by Sinclair.
• Sinclair also said it will unload seven other stations in Seattle, Cleveland, San Diego, Salt Lake City, Denver and Miami, but did not name a buyer. It's likely that 21st Century Fox will have an interest in acquiring those stations, as they are all Fox network affiliates.
• WPIX-TV in New York will remain with Sinclair following the close of the transaction.
• The buyer of Tribune flagship station WGN in Chicago was not named; the station will be operated by Sinclair.