{"id":651855,"date":"2013-04-11T10:02:20","date_gmt":"2013-04-11T14:02:20","guid":{"rendered":"https:\/\/www.pehub.com\/?p=195767"},"modified":"2013-04-11T10:02:20","modified_gmt":"2013-04-11T14:02:20","slug":"reuters-sinclair-broadcast-to-buy-fisher-communications","status":"publish","type":"post","link":"https:\/\/mereja.media\/index\/651855","title":{"rendered":"Reuters \u2013 Sinclair Broadcast to Buy Fisher Communications"},"content":{"rendered":"

TV station operator Sinclair Broadcast Group Inc.<\/strong> said it will buy Fisher Communications Inc. <\/strong>for about $373 million to expand its operations in western United States, Reuters<\/em> reported. The offer values Fisher at $41 per share, a premium of 5 percent to the stock’s Wednesday closing price. It is 44 percent above the stock’s closing on Jan. 9, a day before Fisher, under pressure from billionaire investor Mario Gabelli, said it was exploring strategic alternatives, including a sale.<\/p>\n

(Reuters<\/em>) – TV station operator Sinclair Broadcast Group Inc said it will buy Fisher Communications Inc for about $373 million to expand its operations in western United States.<\/p>\n

The offer values Fisher at $41 per share, a premium of 5 percent to the stock’s Wednesday closing price.<\/p>\n

It is 44 percent above the stock’s closing on Jan. 9, a day before Fisher, under pressure from billionaire investor Mario Gabelli, said it was exploring strategic alternatives, including a sale.<\/p>\n

Gabelli, the largest shareholder in the company with a 26.75 percent stake, had then told Reuters that he preferred a leveraged restructuring to an outright sale.<\/p>\n

Seattle-based Fisher owns 20 television stations in eight markets and three radio stations. It runs CBS and ABC affiliates such as KPIC TV, KCBY TV and KATU TV.<\/p>\n

Sinclair said it expects to finance the acquisition through cash on hand and debt. The company may also raise funds from capital markets.<\/p>\n

The company said it would reach about 34 percent of U.S. television households following the Fisher acquisition.<\/p>\n

Sinclair’s shares rose 3 percent to $22.48 in early trading on the Nasdaq. Trading in Fisher shares were halted.<\/p>\n

The post Reuters – Sinclair Broadcast to Buy Fisher Communications<\/a> appeared first on peHUB<\/a>.<\/p>\n

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<\/p>\n","protected":false},"excerpt":{"rendered":"

TV station operator Sinclair Broadcast Group Inc. said it will buy Fisher Communications Inc. for about $373 million to expand its operations in western United States, Reuters reported. The offer values Fisher at $41 per share, a premium of 5 percent to the stock’s Wednesday closing price. It is 44 percent above the stock’s closing […]<\/p>\n","protected":false},"author":7428,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-651855","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/651855","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/users\/7428"}],"replies":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/comments?post=651855"}],"version-history":[{"count":0,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/651855\/revisions"}],"wp:attachment":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/media?parent=651855"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/categories?post=651855"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/tags?post=651855"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}