Sinclair to get loan or capital markets deal with stations purchase

By Sara Rosenberg

New York, July 19 - Sinclair Broadcast Group Inc. plans on using a bank loan and/or accessing the capital markets to help fund its acquisition of six television stations owned and/or operated by Newport Television for $412.5 million, according to a news release.

Other funds for the transaction will come from cash on hand.

The company expects the stations to be free cash flow accretive and add roughly $55 million to $60 million of pro forma TV operating cash flow on average for 2012/2013, the release said.

Closing is expected no earlier than December, subject to approval by the Federal Communications Commission.

Sinclair Broadcast is a Hunt Valley, Md.-based television broadcasting company.

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