Firm buying WNWO seeks to refinance debt
3/19/2013The company that plans to buy Toledo’s WNWO-TV, Channel 24, said Monday it is seeking $1 billion in loans to refinance debt.
Maryland-based Sinclair Broadcast Group Inc. announced Feb. 28 that it would buy WNWO and 17 other television stations from Barrington Broadcasting Corp. as part of a $370 million deal.
The deal is expected to close in the second quarter of 2013, subject to Federal Communications Commission approval.
Sinclair had $2.27 billion of debt as of Dec. 31, it said in a March 12 regulatory filing.