Sinclair Broadcast Group Inc. has modified its agreement with WNAB-TV owner
Nashville Broadcasting L.P. and will pay $18 million as a
nonrefundable deposit against the purchase price of the station's nonlicense
assets and to lower the monthly fees it pays Nashville Broadcasting under an
Sinclair -- which already owns Fox affiliate WZTV(TV) and UPN affiliate
WUXP(TV) in Nashville, Tenn. -- has also been providing sales, administrative and technical
services to WNAB-TV.
Sinclair said the transaction will save it approximately $1.3 annually.
An analyst said the move could also be a commitment from Sinclair to owning
three stations in a market if the Federal Communications Commission changes its
media-ownership rules accordingly.