In the latest of a string of acquisitions, Sinclair Broadcast Group is to buy Fisher Communications . The merger transaction will cost the former roughly $373 million. Fisher stockholders are to receive a cash payout of $41.00 per share, which, according to Sinclair, is a 44% premium to the stock's recent closing price.
Fisher owns 20 television and three radio stations in the Pacific Northwest, and has entered into a deal to provide some operating services to an additional three TV outlets.
Sinclair has been on a buying spree lately, snapping up 18 TV stations from Illinois-based Barrington Broadcasting Group, and four stations formerly owned by Cox Media Group earlier this year.
The article Sinclair Broadcast Group Makes a New Acquisition originally appeared on Fool.com.Fool contributor Eric Volkman has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.