Sinclair Broadcast Group Sells Numerous Television Stations

Sinclair Broadcast Group Sells Numerous Television Stations

  

Fried Frank acted as counsel to Sinclair Broadcast Group (Nasdaq: SBGI) in its definitive agreements to sell 23 television stations to Standard Media Group LLC (an affiliate of Standard General LP), 21st Century Fox (NASDAQ: FOXA, FOX), Meredith Corporation (NYSE: MDP), and other parties. The sales are part of Sinclair's larger May 2017 announced acquisition of Tribune Media Company (NYSE:TRCO) in order to obtain governmental approval of the Tribune transaction and for other business purposes. Sinclair anticipates closing the sale at the same time as the Tribune transaction near the end of the second quarter of 2018, pending customary closing conditions, including approval by the Federal Communications Commission and antitrust clearance as applicable.
 
The Fried Frank team was led by corporate partner Philip Richter; executive compensation & ERISA partner Adam Kaminsky; tax partners Michael J. Alter and Alan S. Kaden; corporate special counsel Howard A. Fine and Jose R. Morales; environmental special counsel Donna Mussio; intellectual property and technology special counsel Jason L. Greenberg; corporate associates Robert Engelke, Erica Jaffe, DK Kim, Jason D. Meyers, Christina Robinson, and Jake Saifman; executive compensation & ERISA associate Samantha Steinfeld Rozell; tax associate W. Reid Thompson; and corporate law clerk Camila Acchiardo Vallejo.

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