Sinclair Broadcast Group Closes Fisher Communications Deal

Following the approval by Fisher Communications shareholders on Aug. 6, Sinclair Broadcast Group has announced the acquisition of Fisher has been completed. The deal calls for Fisher shareholders to receive $41 per share, valuing the acquisition at an estimated $373.3 million, less "acquired working capital," Sinclair said.

The broadcasting assets Sinclair received in the deal include 22 television stations, primarily located in the Northern California and Pacific Northwest markets, along with four Seattle, WA. radio stations, according to the company.

Sinclair also stated that, with the closing of the Fisher acquisition, and assuming other deals that are in the works are consummated, on a pro-forma basis, Sinclair-owned television stations will reach approximately 38.2% of U.S. television households.

Sinclair first announced its intention to acquire Fisher on April 11, 2013.

The article Sinclair Broadcast Group Closes Fisher Communications Deal originally appeared on

Fool contributor Tim Brugger has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.

Read Full Story

Can't get enough business news?

Sign up for Finance Report by AOL and get everything from retailer news to the latest IPOs delivered directly to your inbox daily!

Subscribe to our other newsletters

Emails may offer personalized content or ads. Learn more. You may unsubscribe any time.