SBGI to sell WHTM-TV to MEG; WTAT-TV to Cunningham

0

Wells Fargo SecuritiesMarci Ryvicker, Wells Fargo Securities Senior Analyst, notes in a post that Sinclair Broadcast Group has agreed to sell the assets of WHTM-TV to MEG and the non-license assets of WTAT-TV to Cunningham for $97.4 million. The transaction represents a 9.1x multiple on 2-year blended EBITDA, with roughly 85% of the deal value coming from WHTM-TV in Harrisburg, PA (ABC; DMA: 43) and the rest coming from WTAT-TV in Charleston, SC (FOX; DMA: 98). Says Ryvicker:

Click here to Login & view the full article & read our famous RBR+TVBR observation (Not a member? Join Today!)

SHARE
Previous article‘Enlisted’ finale down; ‘Wipeout’ returns steady
Next articlenetBlazr takes on the cable giants
Carl has been with RBR-TVBR since 1997 and is currently Managing Director/Senior Editor. Residing in Northern Virginia, he covers the business of broadcasting, advertising, programming, new media and engineering. He’s also done a great deal of interviews for the company and handles our ever-growing stable of bylined columnists.