Sinclair Broadcast Group Closes On Acquisition Of Fisher Communications, Inc.

BALTIMORE, Aug. 8, 2013 /PRNewswire/ -- Sinclair Broadcast Group, Inc. (Nasdaq: SBGI) ("Sinclair") announced today that it has closed on its previously announced acquisition of Fisher Communications, Inc. valued at approximately $373.3 million, less acquired working capital.    

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Under the terms of the agreement, Fisher shareholders received $41.00 in cash for each share of Fisher common stock they owned.  The transaction represented a 44% premium to the closing price of Fisher common stock on January 9, 2013, the final trading day prior to Fisher announcing a review of strategic alternatives.

The Fisher television stations covered by the transaction are:

About Sinclair:
On a pro forma basis assuming consummation of all previously announced acquisitions, Sinclair Broadcast Group, Inc., the largest and one of the most diversified television broadcasting companies in the U.S., will own and operate, program or provide sales services to 149 television stations in 76 markets.  Sinclair's television group will reach approximately 38.2% (21.9% for purposes of the 39% FCC ownership cap) of U.S. television households and will be affiliated with all major networks.  Sinclair's television portfolio will include 33 FOX, 27 ABC, 25 CBS, 23 CW, 20 MNT,14 NBC, 5 Univision, one Azteca and one independent station.  Sinclair owns equity interests in various non-broadcast related companies.  The Company regularly uses its website as a key source of Company information which can be accessed at www.sbgi.net. 

SOURCE Sinclair Broadcast Group, Inc.