Sinclair to Close on Sale of WTTV-TV and WTTK-TV

Jul 18, 2002, 01:00 ET from Sinclair Broadcast Group, Inc.

    BALTIMORE, July 18 /PRNewswire-FirstCall/ --
 Sinclair Broadcast Group, Inc. (Nasdaq:   SBGI) reported today that it expects
 to close on the previously announced sale of its television stations, WTTV-TV
 (WB 4) in Bloomington, Indiana and its satellite station, WTTK-TV in Kokomo,
 Indiana, within the next week.  The stations are being sold to Tribune Company
 (NYSE:   TRB) for a cash purchase price of $125.0 million, or $123.6 million
 after taxes, reflecting a 38.0x multiple of 2001 broadcast cash flow and an
 estimated 21.0x multiple of the broadcast cash flow anticipated in 2002,
 before duopoly benefits.  The net cash proceeds will initially be used to
 paydown revolving bank debt.
     Sinclair Broadcast Group, Inc., one of the largest and most diversified
 television broadcasting companies, will own and operate, program, or provide
 sales services to 62 television stations in 39 markets, after pending
 transactions.  Sinclair's television group includes FOX, WB, ABC, CBS, NBC,
 and UPN affiliates and will reach approximately 23.9% of all U.S. television
 households.  For more information, please visit Sinclair's website at
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SOURCE Sinclair Broadcast Group, Inc.