Cerberus Capital Management Sells Four Points Media

Sinclair Broadcast Group has closed its acquisition of Four Points Media from Cerberus Capital Management for $200 million. Sinclair had been operating the Four Points TV stations since October 1, 2011, pursuant to a Local Marketing Agreement, while it awaited FCC approval.

PRESS RELEASE

Sinclair Broadcast Group, Inc. SBGI +5.12% , the “Company” or “Sinclair,” announced today that it has closed the asset acquisition of Four Points Media (“Four Points”) from affiliates of Cerberus Capital Management, L.P. for $200 million. The Company financed the acquisition with a $180 million draw under a recently raised incremental Term B Loan commitment under its amended Bank Credit Facility plus a $20 million cash escrow previously paid. Sinclair had been operating the Four Points TV stations since October 1, 2011, pursuant to a Local Marketing Agreement, while it awaited FCC approval. In addition, the parties agreed to an effective closing date of January 1, 2012.

The Four Points TV stations acquired are:

KUTV (CBS 2) Salt Lake City, Utah (DMA 32)KMYU (MNT 9) Salt Lake City, Utah (DMA 32)KEYE (CBS 42) Austin, Texas (DMA 44)WTVX (CW 34) West Palm Beach/Fort Pierce, Florida (DMA 38)WTCN-CA (MNT 50) West Palm Beach/Fort Pierce, Florida (DMA 38)WWHB-CA (AZTECA 48) West Palm Beach/Fort Pierce, Florida (DMA 38)WLWC (CW 28) Providence, Rhode Island/New Bedford, Massachusetts (DMA 53)

About Sinclair:

Sinclair Broadcast Group, Inc., one of the largest and most diversified television broadcasting companies, owns and operates, programs or provides sales services to 73 television stations in 46 markets. Sinclair’s television group reaches approximately 26.3% of U.S. television households. Sinclair’s television portfolio consists of 20 FOX, 18 MNT, 13 CW, 11 ABC, 9 CBS, 1 NBC, and 1 Azteca stations.

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