Sinclair Broadcast Group, Inc. (Nasdaq: SBGI) announced today that it has commenced an underwritten public offering of 12.0 million primary shares of Class A common stock. The Company intends to grant the underwriters a 30-day option to purchase up to an additional 1.8 million shares of Class A common stock on the same terms and conditions. The net proceeds are intended to be used to fund future potential acquisitions and for general corporate purposes.
Wells Fargo Securities, J.P. Morgan and RBC Capital Markets are acting as joint book-running managers for the offering. BofA Merrill Lynch, Deutsche Bank Securities, SunTrust Robinson Humphrey, Citizens Capital Markets, Mizuho Securities, MUFG, LionTree and Moelis & Company will act as co-managers of the offering.
About Sinclair Broadcast Group, Inc. (Nasdaq: SBGI)
Sinclair is one of the largest and most diversified television broadcasting companies in the country. The Company owns, operates and/or provides services to 173 television stations in 81 markets, broadcasting 508 channels and has affiliations with all the major networks. Sinclair is the leading local news provider in the country, as well as a producer of live sports content. Sinclair's content is delivered over multiple-platforms, including over-the-air, multi-channel video program distributors, and digital platforms.
