Sinclair plans new loan or capital markets deal for Fisher purchase

By Sara Rosenberg

New York, April 11 - Sinclair Broadcast Group Inc. plans on using a bank loan and/or accessing the capital markets to help fund its acquisition of Fisher Communications Inc. for about $373.3 million, according to a news release.

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

Under the agreement, Fisher shareholders will receive $41 in cash per share.

Closing is expected in the third quarter, subject to approval by the Federal Communications Commission, antitrust clearance, the affirmative vote of two-thirds of Fisher's outstanding shares and other customary conditions.

Sinclair is a Hunt Valley, Md.-based television broadcasting company. Fisher Communications is a Seattle-based communications company.

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