Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Shares of TV broadcasting services provider Sinclair Broadcast Group (Nasdaq: SBGI) jumped as much as 10.5% on fairly average trading volume, then trailed off to a less impressive 5% gain.

So what: The previously announced acquisitions of privately held Four Points Media and some assets of Freedom Communications took a step forward today as Sinclair presented a plan to raise about $555 million in long-term and short-term loans.

Now what: The two deals will expand Sinclair's media presence in West Palm Beach, Fla.; Albany, New York; and an assortment of Midwest metro areas. Fifteen new TV stations is a pretty big expansion for a company with 65 existing licenses. Growth by acquisition is a time-honored tradition, particularly in mature industries like this one. Though Sinclair's already-heavy debt balance grows even larger, Sinclair hopes to juice up its cash machine and keep the recently reinstated dividend policy plump and healthy,

Interested in more info about Sinclair Broadcast Group? Click here to add it to My Watchlist.

Fool contributor Anders Bylund holds no position in any of the companies mentioned. We Fools may not all hold the same opinion, but we all believe that considering a diverse range of insights makes us better investors. Check out Anders' holdings and bio, or follow him on Twitter and Google+. We have a disclosure policy.