Sinclair Closes on Sale of KSMO-TV in Kansas City

Sinclair Closes on Sale of KSMO-TV in Kansas City

BALTIMORE, Sept. 29 /PRNewswire-FirstCall/ -- Sinclair Broadcast Group, Inc. (NASDAQ:SBGI) announced that it has closed and funded on its previously announced sale of KSMO-TV (WB 62) in Kansas City. In November 2004, the Company announced that it had entered into an agreement to sell the station for $33.5 million to Meredith Corporation (NYSE:MDP) who owns KCTV, the CBS affiliate in Kansas City and who has been operating KSMO-TV with Sinclair pursuant to a joint sales agreement. Of the $33.5 million price, $26.8 million for the sale of the non-license assets closed in November 2004 and the remaining $6.7 million purchase price for the license assets, which was subject to the Federal Communications Commission's approval, closed and funded today.

Sinclair Broadcast Group, Inc., one of the largest and most diversified television broadcasting companies, currently owns and operates, programs or provides sales services to 60 television stations in 37 markets. Sinclair's television group reaches approximately 22% of U.S. television households and includes ABC, CBS, FOX, NBC, WB, and UPN affiliates. Sinclair owns a majority equity interest in G1440, Inc., an Internet consulting and development company, and Acrodyne Communications, Inc., a manufacturer of transmitters and other television broadcast equipment.

Source: Sinclair Broadcast Group, Inc.

CONTACT: David Amy, EVP & CFO, or Lucy Rutishauser, Treasurer, both of Sinclair Broadcast Group, +1-410-568-1500

Web site: http://www.sbgi.net/

Company News On-Call: http://www.prnewswire.com/comp/110203.html

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