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Sinclair agrees to buy 7 TV stations

Sinclair Broadcast Group Inc. of Hunt Valley said it has agreed to purchase the assets of Four Points Media from affiliates of Cerberus Capital Management L.P. for $200 million.

Four Points’ seven television stations – two in Salt Lake City, three in West Palm Beach/Fort Pierce, Fla., one in Austin, Texas, and one in Providence, R.I. – reach 2.65 percent of the U.S.’ TV households, according to the announcement. Upon approval by regulators, Sinclair expects to finance the deal with a new term loan, a draw on its revolving line of credit, and/or cash on hand.

Closing is expected in the first quarter of 2012.