Sinclair plans loan or capital markets deal for Allbritton assets buy

By Sara Rosenberg

New York, July 29 - Sinclair Broadcast Group Inc. expects to get a new bank loan and/or to access the capital markets to fund its $985 million acquisition of Perpetual Corp. and Charleston Television LLC from the Allbritton family, according to a news release.

Closing is expected in the fourth quarter, subject to approval by the Federal Communications Commission and antitrust clearance.

To comply with FCC local television ownership rules, Sinclair expects to sell the license and certain related assets of its existing stations in Birmingham, Ala., and Charleston, S.C.

Sinclair is a Hunt Valley, Md., television broadcasting company.

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