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What: Shares of TV broadcasting services provider Sinclair Broadcast Group
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,
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