Sinclair to buy River City

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Sinclair Broadcast Group, Baltimore, has signed a definitive agreement to acquire the assets of River City Broadcasting, the St. Louis-based television and radio broadcaster founded by Barry Baker, in a transaction valued at approximately $1.2 billion. Sinclair will form a wholly owned subsidiary, Sinclair Communications, to hold the combined broadcasting assets of Sinclair and River City. Mr. Baker will become president-CEO of Sinclair Communications and exec VP and board member of Sinclair Broadcast Group. With the purchase, Sinclair Communications said it will reach 14.82% of U.S. television households and will own or operate 29 television stations and 34 radio stations in 27 markets.

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