Sinclair Broadcast Group (SBGI) announced after the bell Thursday that it entered into a definitive agreement to purchase the broadcast assets of 18 television stations owned by Barrington Broadcasting Group LLC for $370.0 million and entered into agreements to operate or provide sales services to another six stations.
The Company also reached an agreement with DirecTV on a new retransmission consent agreement and has entered into a short-term extension of its existing agreement in order to allow the parties to enter into a formal agreement.
Sinclair Broadcast Group gapped up Friday and has risen sharply in early trade. Shares are now up 1.30 at $15.38 on above average volume. The stock has broken out to a new high for the year.
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Business News
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.