The Baltimore Sun du lieu suivant : Baltimore, Maryland • Page 43

Business The Sun Wednesday, September 9, 1998 Page 5c Sinclair purchases Guy Gannett's seven TV stations undisclosed price. "There would be a sale at some point," said Guy Gannett spokesman Ted O'Meara. "Do you wait and let the future of the company be decided by how long the trustees would be alive, or do you deal with it now? The market conditions were such that the properties were extremely valuable now." Guy Gannett is not affiliated with Gannett Co. which owns USA Today and other newspapers Sinclairjrom Page lc The sale to Sinclair marks the end of the road for privately owned Guy Gannett, which was founded in 1921. After the heirs to the firm said they planned to sell it once they took over, the trustees who currently run Guy Gannett decided to sell the company's assets now rather than risk a future downturn in the market.

Last Tuesday, Guy Gannett sold its newspaper, direct marketing, and new-media holdings to the Seattle Times Co. for an stations have service areas that overlap with two Sinclair holdings, KDNL-TV in St. Louis and WYZZ-TV in Peoria, 111. The Cedar Rapids, Iowa, station reaches markets already served by Sinclair's KDSM-TV in Des Moines, Iowa. Broadcast Holdings a deal valued at about $1 billion.

Six days later, Sinclair completed its $252 million acquisition of radio and television broadcaster Max Media Properties LLC. If all pending acquisitions are completed, Sinclair will own or program 64 television stations in 42 separate markets and 51 radio stations in 10 separate markets. The deal with Guy Gannett is subject to Justice Department and Federal Communications Commission approval, and is expected to be completed in the second quarter of 1999. Sinclair will need FCC waivers in order to complete the transaction, since some of the Guy Gannett stations reach areas already served by Sinclair stations. Guy Gannett's central Illinois erley Group.

"They pick up some important Big Three network stations that are significantly under-performing," said Tim Wallace of Lehman Brothers Inc. in New York. "Sinclair has an outstanding reputation for improving margins." Shares in Sinclair lost 31.25 cents yesterday to close at $18,125 on the Nasdaq stock exchange. Sinclair said it hasn't yet made a final decision about how to fund the deal. The company Is considering a debt or equity issuance, and may sell some stations.

The Guy Gannett purchases are just the latest in a string of Sinclair station acquisitions. On July 1, Sinclair closed on its purchase of television broadcaster Sullivan ism; QlFlL UP qP lllt! Ill SMALL Stop in 1 1 VN 10 YMUTERM 20 YMU AMORTIZATION BUSINESS MORTGAGE LOANS. peeped any branch for details, Judy Casey in Carroll County at 410-857-3418. CmmCouNnBANK ANDTksrOmm A itMbttdMry of Mjmn-OiMM Stratum, hw. Martha DeNardi in Baltimore at 410-583-5432.

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Sinclair's year TV stations that have been acquired by Sinclair Broadcast Group In 1998: Completed WEAR-TV, Mobile, Ala. Pensacola, Fla. WFGX-TV, Mobile, Ala. Pensacola, Fla. WCHS-TV, Charleston Huntington, W.Va.

WZTV-TV, Nashville, Tenn. WUXP-TV, Nashville, Tenn. WUTV-TV, Buffalo, N.Y. KOKH-TV, Oklahoma City WXLV-TV, Greensboro Point, N.C. WUPN-TV, Greensboro Point, N.C.

WICEF-TV, Dayton, Ohio WRGT-TV, Dayton, Ohio WVAH-TV, Charleston Huntington, W.Va. WRLH-TV, Richmond, Va. WUHF-TV, Rochester, N.Y. WMSN-TV, Madison, Wis. WTAT-TV, Charleston, S.C.

WMMP-TV, Charleston, S.C. WSYT-TV, Syracuse, N.Y. WNYS-TV, Syracuse, N.Y. KBSI-TV, Paducah, Ky. Cape Girardeau, Mo.

WDKA-TV, Paducah, Ky. Cape Girardeau, Mo. WEMT-TV, Tri-Cities, KETK-TV, TylerLongview, Tex. KLSB-TV, TylerLongview, Tex. Announced WMHQ-TV, Albany SchenectadyTroy, N.Y.

WNEQ-TV, Buffalo, N.Y. WGME-TV, Portland, Maine WICD-TV, Champaign, 111. WICS-TV, Springfield, 111. KGAN-TV, Cedar Rapids, Iowa WGGB-TV, Springfield, Mass. WTWC-TV, Tallahassee, Fla.

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