Standard Media Group’s Acquisition of 9 television stations from Sinclair Broadcast Group, Inc.


RBC Capital Markets acted as exclusive financial advisor and Pillsbury Winthrop Shaw Pittman LLP acted as legal advisor to Standard Media in connection with this transaction. RBC Capital Markets is sole lead arranger on the committed debt financing in support of the Transaction Fried Frank acted as counsel to Sinclair Broadcast Group

Standard Media Group LLC (“Standard Media”), an affiliate of Standard General L.P. (together with its affiliates, “Standard General”), announced today that it has entered into a definitive agreement with Sinclair Broadcast Group, Inc. (“Sinclair”) to purchase nine television stations in seven markets for $441.7 million in cash (the “Transaction”). The sale is part of Sinclair’s broader plan to divest stations in connection with the closing of its merger with Tribune Media Company (“Tribune”).

After closing the Transaction, Standard Media will own stations in strong geographically diverse markets, including four state capitals. These acquisitions advance Standard Media’s goal of swiftly building a substantial broadcast television group with a strong and diverse voice.

The Transaction is subject to regulatory approval, the closing of the Sinclair / Tribune merger and other customary closing conditions. The transaction is expected to be completed in conjunction with the closing of the Sinclair / Tribune merger.

Fried Frank advised Sinclair Broadcast Group with a team including corporate partner Philip Richter (Picture); 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.

Involved fees earner: Philip Richter – Fried Frank Harris Shriver & Jacobson; Howard A. Fine – Fried Frank Harris Shriver & Jacobson; Jose Morales – Fried Frank Harris Shriver & Jacobson; Robert Engelke – Fried Frank Harris Shriver & Jacobson; Erica Jaffe – Fried Frank Harris Shriver & Jacobson; DK Kim – Fried Frank Harris Shriver & Jacobson; Jason Meyers – Fried Frank Harris Shriver & Jacobson; Christina Robinson – Fried Frank Harris Shriver & Jacobson; Jake Saifman – Fried Frank Harris Shriver & Jacobson; Adam Kaminsky – Fried Frank Harris Shriver & Jacobson; Samantha Steinfeld Rozell – Fried Frank Harris Shriver & Jacobson; Michael Alter – Fried Frank Harris Shriver & Jacobson; Alan Kaden – Fried Frank Harris Shriver & Jacobson; Reid Thompson – Fried Frank Harris Shriver & Jacobson; Donna Mussio – Fried Frank Harris Shriver & Jacobson; Jason Greenberg – Fried Frank Harris Shriver & Jacobson;

Law Firms: Fried Frank Harris Shriver & Jacobson;

Clients: Sinclair Broadcast Group;

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Author: Ambrogio Visconti