Sinclair Broadcast Group has closed on its $370 million acquisition of Barrington Broadcasting. The 24 stations, including WEYI Flint-Saginaw and WNWO Toledo, are located in 15 markets and reach 3.4% of the U.S. TV households. The acquisition was funded through cash on hand.
Due to FCC ownership rules, Sinclair sold WSYT Syracuse and assigned its local marketing agreement and purchase option on WNYS, also in Syracuse, to Bristlecone Broadcasting. Sinclair also sold WYZZ Peoria to Cunningham Broadcasting Corporation.
In addition, the license assets of WBFS Flint and WGTU-WGTQ Traverse City-Cadillac were purchased by Cunningham, while the license assets of WEYI Flint and WWMB Myrtle Beach were purchase by Howard Stirk Holdings. Sinclair will provide services to the stations.
Newly acquired WSTM Syracuse will continue to provide services to Granite Broadcasting-owned WTVH, and receive services for WHOI Peoria from Granite, but Sinclair has notified Granite that it does not intend to renew these agreements when they expire in March of 2017.