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Sinclair to close on Allbritton stations Aug. 1

Sinclair Broadcast Group Inc. next week will become even larger, when it closes on the acquisition of Allbritton television stations.

The Hunt Valley based broadcaster announced Friday that the deal had been approved by the Federal Communications Commission and the Department of Justice. It will close Aug. 1.

Sinclair’s channels will then reach 38.9 percent of all households in the United States through its ownership of 162 stations in 78 markets. According to a recent release from the company, that percentage is only 24.1 for purposes of the FCC’s ownership cap.

In order to obtain regulatory approval of the Allbritton deal, Sinclair sold some stations.  The company also raised term loans and held an offering of senior secured notes to finance the deal.