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


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:

Please Login to view this premium content. (Not a member? Join Today!)