Separate from its deal to acquire six stations from Newport Television for $412.5 million, Sinclair Broadcast Group has entered into an agreement to purchase the assets of Bay Television, Inc., which owns the MyNetworkTV affiliate WTTA Tampa/St. Petersburg for $40 million.
Bay TV is owned primarily by Sinclair's controlling shareholders. Since 1998, Sinclair has operated it via a local marketing agreement, which will be terminated upon closing.
The transaction is expected to close in the fourth quarter of 2012, subject to FCC approval.