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Sinclair hires financial adviser
Sinclair Broadcast Group, of Hunt Valley, an independent television broadcasting company, said it has engaged Moelis & Co., a New York-based investment banking firm, as its exclusive financial adviser in connection with the sale of certain assets tied to its proposed acquisition of eight television stations owned by Allbritton Communications.
Sinclair has proposed selling WHP, a CBS station in Harrisburg, Pa., together with the right to provide services to WLYH in Harrisburg, WMMP in Charleston, S.C., and WABM in Birmingham, Ala.
Sinclair said it is attempting to expedite Federal Communications Commission approval of the nearly $1 billion Allbritton deal.
The FCC has raised objections to certain shared-services agreements between TV station owners in a single market.
