The FCC has given its approval to Sinclair Broadcast Group's (SBGI -0.2%) deal to acquire stations from Bonten Media Group, an April precursor to Sinclair's ambition to take over Tribune Media.
Seven full-power Bonten stations will go to Sinclair, in markets including the Tri-Cities in Tennessee/Virginia; Missoula and Butte-Bozeman, Mont.; Abilene-Sweetwater, Texas; and Eureka, Calif.
Sinclair had reached a $240M deal to take Bonten's stock. It said that the deal would be $25M accretive annually to free cash flow, and that pro forma for synergies, if it had had the Bonten stations previously, media revenues in 2015 and 2016 would have been $2.236B and $2.62B respectively.
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