BALTIMORE, June 18, 2013 /PRNewswire/ -- Sinclair Broadcast Group, Inc. (Nasdaq: SBGI) (the "Company" or " Sinclair") announced that it has entered into a definitive agreement to purchase the assets of Dielectric from SPX Corporation, for an immaterial and leverage neutral purchase price. Dielectric is the nation's largest manufacturer of broadcast television, radio and wireless antennas, transmission lines, and RF systems.
Commenting on the transaction, David Smith, President and CEO of Sinclair stated, "Dielectric has supplied more than two-thirds of the TV industry's high power antennas and its name is synonymous with expert engineering and quality products. We feel fortunate to have this opportunity to acquire the Dielectric intellectual property and assets related to our most critical infrastructure. This acquisition was a logical choice given our in-house RF engineering expertise and our ownership of Acrodyne Services, which installs and services broadcast transmitters and mobile DTV upgrades. Further, if and when a spectrum repack occurs, Dielectric will be there to support that effort."
New products from Dielectric's diversified RF catalog, along with support for existing installed product, will be provided by many of the same talented people who have helped to make Dielectric one of the most well-known and trusted names in the U.S. broadcast industry. Dielectric will be operated as a wholly-owned subsidiary of Sinclair (Dielectric, LLC) with a management and operational team comprised of capable, experienced individuals drawn from the Dielectric staff. Dielectric will maintain operations at their present facility in Raymond, Maine.About Sinclair:On a pro forma basis assuming consummation of all previously announced transactions, Sinclair Broadcast Group, Inc., the largest and one of the most diversified television broadcasting companies, will own and operate, program or provide sales services to 140 television stations in 72 markets. Sinclair's television group will reach approximately 34.8% of U.S. television households and will be affiliated with all major networks. Sinclair's television portfolio will include 32 FOX, 20 MNT, 23 CW, 19 ABC, 25 CBS, 14 NBC, 5 Univision, one Azteca and one independent station. Sinclair owns a broadcast transmission and mobile DTV related company and 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.