Key Developments: Sinclair Broadcast Group Inc (SBGI.O)
26.67USD
23 May 2013
$0.32 (+1.21%)
$26.35
$25.82
$26.91
$25.59
1,203,247
1,682,190
$29.50
$7.82
Latest Key Developments (Source: Significant Developments)
The Law Firm of Levi & Korsinsky, LLP Launches An Investigation Into Possible Breaches Of Fiduciary Duty By The Board Of Directors Of Sinclair Broadcast Group Inc
Levi & Korsinsky, LLP announced that it is investigating Sinclair Broadcast Group Inc and its Board of Directors, in connection with possible claims of breaches of fiduciary duty. Full Article
Sinclair Broadcast Group Inc Prices Public Offering Of Class A Common Stock
Sinclair Broadcast Group Inc announced that it has priced an underwritten public offering of 18.0 million primary shares of Class A common stock at a price to the public of $27.25 per share. Certain selling stockholders also granted the underwriters a 30-day option to purchase up to an additional 2.7 million shares of Class A common stock on the same terms and conditions. The offering is expected to close on May 7, 2013, subject to customary closing conditions. The net proceeds are intended to fund pending and future potential acquisitions and for general corporate purposes. Wells Fargo Securities and J.P. Morgan acted as joint book-running managers for the offering. Deutsche Bank, RBC Capital Markets, and SunTrust Robinson Humphrey acted as co-managers of the offering. Full Article
Sinclair Broadcast Group Inc Announces Public Offering Of Class A Common Stock
Sinclair Broadcast Group Inc announced that it has commenced an underwritten public offering of 14.0 million primary shares of Class A common stock. Certain selling stockholders also intend to grant the underwriters a 30-day option to purchase up to an additional 2.1 million shares of Class A common stock on the same terms and conditions. The net proceeds are intended to fund pending and future potential acquisitions and for general corporate purposes. Wells Fargo Securities and J.P. Morgan are acting as joint book-running managers for the offering. Deutsche Bank, RBC Capital Markets, and SunTrust Robinson Humphrey will act as co-managers of the offering. Full Article
Sinclair Broadcast Group Inc Declares $0.15 Per Share Quarterly Cash Dividend
Sinclair Broadcast Group Inc announced that its Board of Directors has declared a quarterly cash dividend of $0.15 per share on the Company's Class A and Class B common stock. The dividend is payable on June 14, 2013, to the holders of record at the close of business on May 31, 2013. Full Article
Sinclair Broadcast Group Inc Announces Acquisition Of Fisher Communications, Inc
Sinclair Broadcast Group Inc and Fisher Communications, Inc announced that they have entered into a definitive merger agreement whereby Sinclair will acquire Fisher in a merger transaction valued at approximately $373.3 million. Under the terms of the agreement, Fisher shareholders will receive $41.00 in cash for each share of Fisher common stock they own. The transaction represents a 44% premium to the closing price of Fisher common stock on January 9, 2013, the final trading day prior to Fisher announcing a review of strategic alternatives. The transaction is expected to close and fund during the third quarter of 2013. Moelis & Company LLC served as financial advisor and White & Case LLP served as primary legal counsel for Fisher. Full Article
Sinclair Broadcast Group Inc Closes Private Offering Of Senior Unsecured Notes
Sinclair Broadcast Group Inc announced that its wholly owned subsidiary, Sinclair Television Group, Inc. (STG), has closed its previously announced private offering of $600 million aggregate principal amount of senior unsecured notes due 2021. The Notes were priced at 100% of their par value and will bear interest at a rate of 5.375% per annum payable semi annually on April 1 and October 1, commencing October 1, 2013. STG intends to use the net proceeds from the offering to pay down outstanding indebtedness under STG's bank credit facility. Full Article
Sinclair Broadcast Group Inc and DirecTV Reach Agreement Regarding Retrans
Sinclair Broadcast Group Inc announced that it has reached agreement with DirecTV on a new retransmission consent agreement and has entered into a short-term extension of its existing agreement in order to allow the parties to enter into a formal agreement. As a result, DirecTV will continue to carry all of our stations. We thank our viewers for their patience and support during these negotiations. Full Article
Sinclair Broadcast Group Inc Announces Agreement to Purchase Barrington TV Stations Owned By Barrington Broadcasting Group LLC
Sinclair Broadcast Group Inc announced that it has entered into a definitive agreement to purchase the broadcast assets of 18 television stations owned by Barrington Broadcasting Group, LLC (Barrington) for $370.0 million and entered into agreements to operate or provide sales services to another six stations. The 24 stations are located in 15 markets and reach 3.4% of the U.S. TV households. The transaction is subject to approval by the Federal Communications Commission (FCC) and antitrust clearance. The Company anticipates the transaction will close and fund in the second quarter of 2013, subject to closing conditions. The Company expects to finance the purchase price, less $20.0 million in deposits, through a bank loan and/or by accessing the capital markets. Full Article
Sinclair Broadcast Group Inc Issues Q1 2013 Guidance; EBITDA Guidance Below Analysts' Estimates-Conference Call
Sinclair Broadcast Group Inc announced that for the first quarter of 2013, it is expecting net broadcast revenues to be approximately $251.9 million to $254.9 million, and EBITDA to be approximately $90.3 million to $93.3 million. According to I/B/E/S Estimates, analysts are expecting the Company to report EBITDA of $105 million for the first quarter of 2013. Full Article
Sinclair Broadcast Group Inc Declares $0.15 Per Share Quarterly Cash Dividend
Sinclair Broadcast Group Inc announced that Board of Directors has declared a quarterly cash dividend of $0.15 per share on the Company's Class A and Class B common stock. The dividend is payable on March 15, 2013, to the holders of record at the close of business on March 1, 2013. Full Article
Sinclair Broadcast to buy Fisher Communications for $373 million
- Television station operator Sinclair Broadcast Group Inc said it would buy Fisher Communications Inc for about $373 million to expand its operations in the western United States.
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