Sinclair Broadcast Group Announces Strategic Initiative Creating Small Market TV Unit; to Buy Certain COX Media Stations

Sinclair Broadcast Group, Inc. (Nasdaq: SBGI ) (the "Company" or "Sinclair") announced that it has entered into a definitive agreement to purchase the stock and broadcast assets of four television stations owned by COX Media Group ("CMG") for $99.0 million less $4.3 million of working capital adjustments and entered into an agreement to provide