BALTIMORE, June 30, 2016 /PRNewswire/ -- Sinclair Broadcast
Group, Inc. ("Sinclair" or the "Company") (Nasdaq: SBGI) announced today that its wholly-owned subsidiary, Sinclair Television
Group, Inc. ("STG"), intends to amend certain terms and extend the maturity date of certain loans and commitments under its
existing bank credit facility.
Sinclair is seeking to extend the maturity date of its revolving credit facility and term A loans ("the Loans") from
April 9, 2018 to July 31, 2021. In connection with the
extension, Sinclair is also seeking to add additional operating flexibility, including a reduction in certain pricing terms
related to the Loans based on satisfying certain covenant ratios.
Sinclair is one of the largest and most diversified television broadcasting companies in the country. Including pending
transactions, the Company owns, operates and/or provides services to 173 television stations in 81 markets, broadcasting 484
channels and having affiliations with all the major networks. Sinclair is the leading local news provider in the country, as well
as a producer of live sports content. Sinclair's content is delivered via multiple platforms, including over-the-air,
multi-channel video program distributors, and digital platforms. The Company regularly uses its website as a key source of
Company information which can be accessed at www.sbgi.net.
Forward-Looking Statements:
The matters discussed in this press release include forward-looking statements regarding, among other things, future
operating results. When used, the words "outlook," "intends to," believes," "anticipates," "expects," "achieves," and
similar expressions are intended to identify forward-looking statements and information. Such forward-looking information
is subject to a number of risks and uncertainties. Actual results in the future could differ materially and adversely from
those set forth in the forward-looking information as a result of various important factors, including and in addition to the
assumptions set forth therein, but not limited to, STG's ability to consummate the proposed amendment and extension of its bank
credit facility, the impact of changes in national and regional economies, the volatility in the U.S. and global economies and
financial credit markets which impact our ability to forecast or refinance our indebtedness as its comes due, successful
execution of outsourcing agreements, pricing and demand fluctuations in local and national advertising, volatility in programming
costs, the market acceptance of new programming, the CW Television and MyNetworkTV programming, our news share strategy, our
local sales initiatives, the execution of retransmission consent agreements, our ability to identify and consummate investments
in attractive non-television assets and to achieve anticipated returns on those investments once consummated, and any risk
factors set forth in the Company's recent reports on Form 8-K, Form 10-Q and/or Form 10-K, as filed with the Securities and
Exchange Commission. There can be no assurance that the assumptions and other factors referred to will occur. The
Company undertakes no obligation to update such forward-looking information in the future except as required by law.
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SOURCE Sinclair Broadcast Group, Inc.