Sinclair has a deal with Bonten Media for $240 Million

The deal will add Bonten Media Group’s 14 stations in eight markets that reach approximately 1% of the U.S. TV households. Sinclair's total coverage now stands at 39.6%.
By Harry A. Jessell
TVNewsCheck, April 21, 2017 9:39 AM EDT
Sinclair Broadcast Group today announced the acquisition of 14 stations in eight markets from Bonten Media for $240 million.

The deal takes advantage of the FCC decision yesterday to restore the UHF discount in calculating station group coverage for purposes of the FCC's national ownership cap on station group coverage -- 39% of TV households.



The Bonten stations add about 1% to Sinclair's total reach, Sinclair said.

Without the discount, the deal would put Sinclair above the cap at 39.6%. But with the cap, it remains well below the cap at around 25%.

Veteran broadcaster Randy Bongarten, backed by the Diamond Castle private equity firm, formed Bonten Media in 2007 by purchasing Bluestone Television for $230 million.The old Bluestone station still form the backbone of the group.

Through duopoly partner Esteem Broadcasting, Bonten added Fox affiliates in Greenville, N.C., and Chico-Redding, Calif. Esteem owns the stations, but Bonten operates them through joint sales and shared services agreements.


Not included in the deal is WFXI, one of Esteem's two Fox affiliates in Greenville. WFXI was sold in the FCC incentive auction for $42.1 million.

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