BALTIMORE, Jan. 3, 2017 /PRNewswire/ -- Sinclair Broadcast
Group, Inc. ("Sinclair" or the "Company") (Nasdaq: SBGI) announced
today that its wholly-owned subsidiary, Sinclair Television Group,
Inc. ("STG"), has amended certain terms and extended the maturity
date of certain loans under its existing bank credit
facility.
Sinclair extended the maturity date of its term B loans (the
"Loans") from April 9, 2020 and
July 31, 2021 to January 3, 2024. In connection with
the extension, Sinclair added additional operating flexibility,
including a reduction in certain pricing terms related to the Loans
and its existing revolving credit facility and revisions to certain
covenant ratio requirements.
Sinclair is one of the largest and most diversified television
broadcasting companies in the country. Including pending
transactions, the Company owns, operates and/or provides services
to 173 television stations in 81 markets, broadcasting 483 channels
and having 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
via multiple platforms, including over-the-air, multi-channel video
program distributors, and digital platforms. The Company regularly
uses its website as a key source of Company information which can
be accessed at www.sbgi.net.
Forward-Looking Statements:
The matters
discussed in this press release include forward-looking statements
regarding, among other things, future operating results. When
used, the words "outlook," "intends to," believes," "anticipates,"
"expects," "achieves," and similar expressions are intended to
identify forward-looking statements and information. Such
forward-looking information is subject to a number of risks and
uncertainties. Actual results in the future could differ
materially and adversely from those set forth in the
forward-looking information as a result of various important
factors, including and in addition to the assumptions set forth
therein, but not limited to, the impact of changes in national and
regional economies, the volatility in the U.S. and global economies
and financial credit markets which impact our ability to forecast
or refinance our indebtedness as its comes due, successful
execution of outsourcing agreements, pricing and demand
fluctuations in local and national advertising, volatility in
programming costs, the market acceptance of new programming, the CW
Television and MyNetworkTV programming, our news share strategy,
our local sales initiatives, the execution of retransmission
consent agreements, our ability to identify and consummate
investments in attractive non-television assets and to achieve
anticipated returns on those investments once consummated, and any
risk factors set forth in the Company's recent reports on Form 8-K,
Form 10-Q and/or Form 10-K, as filed with the Securities and
Exchange Commission. There can be no assurance that the
assumptions and other factors referred to will occur. The
Company undertakes no obligation to update such forward-looking
information in the future except as required by law.
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visit:http://www.prnewswire.com/news-releases/sinclair-amends-and-extends-bank-credit-agreement-300384793.html
SOURCE Sinclair Broadcast Group, Inc.