The three stations Sinclair plans to close to...
The three stations Sinclair plans to close to obtain FCC approval for its deal to buy Allbritton “were not buyable as standalone stations,” said Wells Fargo analyst Marci Ryvicker in an email to investors Friday. Sinclair had tried to sell…
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the stations but couldn’t find a buyer (CD May 30 p4) -- this was because without sharing arrangements the stations were no longer a worthwhile purchase, Ryvicker said. Closing the stations instead of selling them does not “impact” the Allbritton deal, she said. Since the closing stations aren’t in large markets, “we don’t think that these licenses will be very marketable in the auction,” Ryvicker said. Pai and O'Rielly’s characterization was false, said National Association of Black-Owned Broadcasters President Jim Winston in a news release Friday. “The unique circumstances in which Sinclair finds itself do not support any conclusion regarding the overall important benefits of the new JSA rule.” Sinclair may have had other business reasons for closing the stations, such as a tax deduction, Winston said. “This single instance does not refute the potential benefit that can result from” the JSA rule, he said.