Sinclair Broadcast Group (SBGI) - Get Sinclair Broadcast Group, Inc. Class A Report today agreed to purchase Bonten Media Group's, an operator of leading local television stations across the U.S. television stations.
The deal is for $240 million and is expected to be, on average, approximately $25 million accretive to Sinclair's free cash flow on an annualized basis.
Sinclair anticipates the deal closing in the third quarter of 2017.
"We look forward to welcoming the Bonten employees into the Sinclair family and are pleased to be growing our regional presence in several states where we already operate," CEO of Sinclair Chris Ripley said.
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