Sinclair Broadcast Group (NASDAQ:SBGI) is up 14.6% postmarket, an after-hours leader among stock movers after resuming trading in the wake of a deal to acquire 21 former Fox regional sports networks and Fox College Sports.
Disney (NYSE:DIS) -- which once hoped to get $20B for the non-YES regional sports networks, but has agreed to a deal with an enterprise value of $10.6B -- is flat after hours.
In an 8-K filing, Sinclair notes a termination fee of $864M due to Disney if Disney terminates the deal as a result of failure of Sinclair's Diamond to consummate the deal after closing conditions are satisfied.
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