Edition:
United Kingdom

Sinclair To Acquire 21 Regional Sports Networks From Disney


Friday, 3 May 2019 

May 3 (Reuters) - Sinclair Broadcast Group Inc ::SINCLAIR BROADCAST GROUP TO ACQUIRE 21 REGIONAL SPORTS NETWORKS FROM DISNEY AT A VALUATION OF $10.6 BILLION.SINCLAIR BROADCAST GROUP TO ACQUIRE 21 REGIONAL SPORTS NETWORKS FROM DISNEY AT A VALUATION OF $10.6 BILLION.SINCLAIR BROADCAST GROUP INC - BYRON ALLEN TO BECOME EQUITY AND CONTENT PARTNER IN RSN HOLDING COMPANY.SINCLAIR BROADCAST GROUP INC - DEAL FOR $10.6 BILLION, REFLECTING A PURCHASE PRICE OF $9.6 BILLION.SINCLAIR BROADCAST GROUP INC - SINCLAIR EXPECTS TO CAPITALIZE DIAMOND WITH $1.4 BILLION IN CASH EQUITY.SINCLAIR BROADCAST - TRANSACTION IS EXPECTED TO BE HIGHLY ACCRETIVE TO FREE CASH FLOW.SINCLAIR BROADCAST GROUP - REMAINDER OF PURCHASE PRICE IS BEING FUNDED BY $8.2 BILLION OF FULLY COMMITTED SECURED AND UNSECURED DEBT INCURRED BY DIAMOND.SINCLAIR BROADCAST GROUP INC - TRANSACTION BRINGS CONSOLIDATED NET LEVERAGE TO 4.7X & 5.1X THROUGH PREFERRED FINANCING.SINCLAIR BROADCAST GROUP INC - TRANSACTION WILL BE TREATED AS AN ASSET SALE FOR TAX PURPOSES, WITH SINCLAIR RECEIVING A FULL STEP-UP IN BASIS..SINCLAIR BROADCAST - PURCHASE PRICE WILL BE FUNDED WITH $1.0 BILLION OF FULLY COMMITTED PRIVATELY-PLACED PREFERRED EQUITY OF NEWLY-FORMED UNIT OF CO.SINCLAIR BROADCAST GROUP INC - DEAL FOR RSN PORTFOLIO, WHICH EXCLUDES YES NETWORK.SINCLAIR BROADCAST GROUP INC - COMPLETION OF TRANSACTION IS SUBJECT TO CUSTOMARY CLOSING CONDITIONS, INCLUDING APPROVAL OF U.S. DEPARTMENT OF JUSTICE.