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Slide #23. Sinclair Broadcast Group, Inc. — KRNV-TV
Sinclair Broadcast Group, Inc. (NASDAQ:SBGI)
Sinclair Broadcast Group, Inc. (Nasdaq: SBGI) (the "Company" or "Sinclair") announced that it closed on the acquisition of the non-license assets of KRNV (NBC 7) in Reno, Nevada from Intermountain West for $26.0 million and entered into an agreement to operate or provide sales services to the station. The purchase price represents a 5.2x multiple of the average 2012-2013 cash flow including synergies. We expect to drop our San Francisco news share on our FOX station and replace it with a local Reno newscast.
Sinclair Broadcast Group is a television media company. The content, distributed through Co.'s broadcast platform and third-party platforms, consists of programming provided by third-party networks and syndicators, local news, college and sports, and other original programming produced by Co. Additionally, Co. owns digital media products that are complementary to its portfolio of television station and regional sports network related digital properties. Outside of its media related businesses, Co. operates technical services companies focused on supply and maintenance of broadcast transmission systems as well as research and development for the advancement of broadcast technology.
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