Sinclair continues to increase the size of their conservative empire.
The company announced Today that they have agreed to buy Bonten Media Group and Cunningham Broadcasting Corporation has entered into a definitive agreement to purchase the membership interest of Esteem Broadcasting ("Esteem") for an aggregate purchase price of $240.0 million.
Bonten owns 14 television stations in 8 markets which reach approximately 1% of the U.S. TV households and provides services to 4 stations pursuant to joint sales agreements with Esteem Broadcasting. Completion of the transaction is subject to the satisfaction of customary closing conditions, including approval by the Federal Communications Commission.
The Company anticipates that the transaction will close and fund with cash on hand in the third quarter of 2017, subject to the satisfaction of the closing conditions.
Here is a list of the stations that will soon be under the Sinclair banner:
H/t Street Insider