Sinclair Hires Advisor For Sale Of Three TV Stations
April 17, 2014 at 4:21 AM (PT)
SINCLAIR BROADCAST GROUP, INC. is moving forward with its plans to spin off some television properties to allow it to buy the ALLBRITTON television stations, hiring MOELIS AND COMPANY to serve as exclusive financial advisor for the potential sale of WHP-TV (CBS 21)/HARRISBURG, MY NETWORK TV affiliate WMMP-TV (MY TV CHARLESTON)/CHARLESTON, SC, and MY NETWORK TV affiliate WABM-TV (MY 68)/BIRMINGHAM, plus WHP's shared services agreement with NEXSTAR CW affiliate WLYH-TV (CW 15)/LEBANON-LANCASTER-HARRISBURG.
The sales are intended to address the FCC's concerns about shared services agreements; the Commission recently announced new restrictions on such arrangements. SINCLAIR owns a cluster of radio stations in the SEATTLE market, acquired as part of its deal for the FISHER COMMUNICATIONS stations.