BALTIMORE, March 2, 2016 /PRNewswire/ -- Sinclair Broadcast Group, Inc. (Nasdaq: SBGI) ("Company") announced today that it closed on its previously announced acquisition of the stock of Tennis Channel for $350 million. The acquisition was funded through cash on hand and a draw on the Company's revolving line of credit.
Sinclair is the largest and one of the most diversified television broadcasting companies in the country. Including pending transactions, the Company owns, operates and/or provides services to 171 television stations in 81 markets, broadcasting 471 channels and affiliations with all the major networks. Sinclair is the leading local news provider in the country, as well as a producer of sports content. Sinclair's broadcast content is delivered via multiple-platforms, including over-the-air, multi-channel video program distributors, and digital platforms. The Company regularly uses its website as a key source of Company information which can be accessed at www.sbgi.net.
SOURCE Sinclair Broadcast Group, Inc.