SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT PURSUANT TO SECTION 13 OR 15(D)
OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report July 14, 1997 Commission File Number 0-26076
(Date of earliest event reported)
SINCLAIR BROADCAST GROUP, INC.
(Exact name of registrant)
Maryland 52-1494660
(State of organization) (I.R.S. Employer
Identification Number)
2000 West 41st Street,
Baltimore, Maryland 21211
(Address of principal executive offices and zip code)
(410) 467-5005
(Registrant's telephone Number)
Page 1 of 3
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ITEM 5. OTHER EVENTS
The information set forth in the first two paragraphs of Exhibit 99 is
incorporated herin by reference.
ITEM 7. EXHIBITS
Exhibit No.
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99 Press Release by Sinclair Broadcast Group, Inc., dated July 14, 1997.
Page 2 of 3
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
SINCLAIR BROADCAST GROUP, INC.
By: /s/ David B. Amy
-------------------------------
David B. Amy
Chief Financial Officer/
Principal Accounting Officer
Dated: July 14, 1997
Page 3 of 3
NEWS RELEASE
July 14, 1997 Contact: Patrick Talamantes, Dir. of Corporate Finance
FOR IMMEDIATE RELEASE Sinclair Broadcast Group, Inc.
Baltimore, MD (410) 467-5005
SINCLAIR TO SWITCH AFFILIATIONS TO THE WB FROM UPN
In a far reaching agreement that promises to have a profound effect on the
broadcast network television landscape, WPTT-TV, Pittsburgh, WNUV-TV, Baltimore,
WSTR-TV, Cincinnati, KRRT-TV, San Antonio, and KOCB-TV, Oklahoma City, will
become primary affiliates of The WB Television Network for ten years, beginning
January 16, 1998, it was announced today by David Smith, President, Sinclair
Broadcast Group; Barry Baker, President of River City Broadcasting, L.P. (who is
presently a consultant to and CEO-designate of Sinclair Communications); and
Eddie Edwards, President, Glencairn Ltd. Sinclair Broadcast Group owns the
stations in Cincinnati, and Oklahoma City, and programs the stations in
Pittsburgh, Baltimore and San Antonio under local marketing agreements with
Glencairn Ltd. Each of the stations is presently affiliated with UPN through
January 15, 1998.
Under the terms of the agreement, The WB has guaranteed compensation to Sinclair
of $64 million for the first eight years. The WB will pay Sinclair an additional
$20 million over the final two years of the agreement, for potential
compensation over the ten-year term of $84 million, however, The WB has no
obligation to operate and make the payments in years nine and ten. Also,
Sinclair's LMA stations WVTV-TV, Milwaukee, WTTO-TV, Birmingham, and WDBB-TV,
Tuscaloosa have extended their affiliations with The WB through January 2008.
Glencairn owns the station in Milwaukee. In addition, Sinclair's LMA station in
Greenville, SC, WFBC-TV, will become an affiliate of The WB beginning November
1, 1999. WFBC-TV is owned by River City Broadcasting.
"The WB is well-positioned for long-term success," said Smith. "The WB
management team clearly saw the tremendous value in our distribution system,
which will help The WB compete on an even more level playing field.
"Sinclair's goal is to be aligned with successful, seven-day-a-week, fully
integrated and branded networks," added Baker. "Sinclair's decision to sign a
long-term agreement with The WB was based upon a number of key elements -- its
willingness to fully compensate Sinclair for its distribution system, its Warner
Bros. lineage is stellar, its primetime and kids programming is terrific, its
promotion and marketing is outstanding, its management team is excellent, and
its strategy is sound."
"I am delighted to partner with The WB," said Edwards, who is also the founder
of the Black Broadcaster's Alliance. "My local marketing agreements with
Sinclair have enabled me to build one of the largest minority-owned broadcasting
companies in the United States, to produce local programs (such as Eddie's
Digest) that address issues of particular importance to the African-American
community and to grow an entire menu of programming on my LMAs in concert with
the public interest. The WB affiliations will further enhance our position in
our local markets and in the broadcast industry."
Sinclair Broadcast Group, Inc. is one of the nation's largest broadcast groups,
owning and/or providing programming services to 29 television stations in 21
separate markets, and owning, providing sales and programming services to, or
having options to acquire, 34 radio stations in 8 separate markets. The
television group reaches approximately 15% of U.S. television households and
includes ABC, CBS, FOX, WB and UPN affiliates. The radio group is one of the
twenty largest groups in the United States.
Sinclair Broadcast Group's Class A common stock is traded on the NASDAQ National
Market System under the ticker symbol "SBGI."
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