May 9, 2018 / 11:25 AM / 2 months ago

BRIEF-Sinclair Gives More Information About Agreements To Sell TV Stations For Tribune Deal Close

May 9 (Reuters) - Sinclair Broadcast Group Inc:

* SINCLAIR PROVIDES ADDITIONAL INFORMATION ABOUT AGREEMENTS TO SELL TV STATIONS RELATED TO CLOSING TRIBUNE MEDIA ACQUISITION

* SAYS REACHES AGREEMENT FOR MULTI-YEAR RENEWALS OF 34 FOX AFFILIATIONS

* SAYS EXCLUDING STATIONS WHERE CO TO CONTINUE TO SERVICES AFTER DISPOSITIONS, DIVESTED STATIONS ARE BEING SOLD FOR $1.5 BILLION

* SAYS DIVESTED STATIONS SALE ALSO INCLUDES ANOTHER ABOUT $100 MILLION IN RETAINED WORKING CAPITAL THAT WILL CONVERT TO CASH OVER 90-120 DAYS POST CLOSE

* SAYS FOX BROADCASTING IS BUYER OF SOME TV STATIONS THAT TRIBUNE, CO EXPECT TO SELL FOR CLOSE OF CO’S ACQUISITION OF TRIBUNE STOCK

* SAYS INCLUDING TRIBUNE DEAL, AND PRO FORMA FOR EXPECTED SYNERGIES, CO’S 2017, 2018 FREE CASH FLOW EXPECTED TO BE $1.550 BILLION TO $1.575 BILLION

* SAYS FOX AGREED TO PROVIDE CO WITH OPTION TO PURCHASE TELEVISION STATIONS WPWR-TV, KTBC-TV Source text for Eikon: Further company coverage:

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