Sinclair Broadcast Group Announces Conversion, Settlement Of 3.0% Convertible Senior Notes
September 23, 2013 at 7:52 AM (PT)
SINCLAIR BROADCAST GROUP, INC. has received a conversion notice for its 3.0% Convertible Senior Notes due 2027 with an outstanding aggregate principal balance of $5.4 million.
The Company will settle the conversion of the Notes in cash, with the total amount determined at the end of the 20-trading-day measurement period beginning on SEPTEMBER 24th and ending on OCTOBER 21st, with settlement expected on OCTOBER 24th.
SINCLAIR, primarily a television station owner, owns News KOMO-A, Hot AC KPLZ (STAR 101.5), and Talk KVI-A/SEATTLE and the LMA to operate SOUTH SOUND BROADCASTING's KOMO-F/OAKVILLE, a simulcast of KOMO-A, acquired from FISHER COMMUNICATIONS earlier this year.