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Sinclair Broadcast to buy 8 TV stations

Sinclair Broadcast Group Inc., of Hunt Valley, an independent television broadcasting company, said it has agreed to pay $90 million to purchase the broadcast assets of eight TV stations in Wilkes-Barre, Pa., and Gainesville and Tallahassee, Fla. that are owned by Wilkes-Barre-based New Age Media.

In order to meet federal ownership rules, Sinclair said it will sell the license assets that it currently owns of three of the stations to two other companies.

Closing is expected in the 2013 fourth quarter or 2014 first quarter.

Upon closing of this and other pending acquisitions, Sinclair will own, operate, program or provide sales services to 162 TV stations in 77 markets.