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In the latest of a string of acquisitions, Sinclair Broadcast Group (NASDAQ: SBGI ) is to buy Fisher Communications (NASDAQ: FSCI ) . The merger transaction will cost the former roughly $373 million. Fisher stockholders are to receive a cash payout of $41.00 per share, which, according to Sinclair, is a 44% premium to the stock's recent closing price.
Fisher owns 20 television and three radio stations in the Pacific Northwest, and has entered into a deal to provide some operating services to an additional three TV outlets.
Sinclair has been on a buying spree lately, snapping up 18 TV stations from Illinois-based Barrington Broadcasting Group, and four stations formerly owned by Cox Media Group earlier this year.