Sinclair Announces Redemption of 8.75% Notes Due 2011

Sinclair Announces Redemption of 8.75% Notes Due 2011

BALTIMORE, Jan. 22 /PRNewswire-FirstCall/ -- Sinclair Broadcast Group, Inc. (NASDAQ:SBGI) announced today that its wholly-owned subsidiary, Sinclair Television Group ("STG") has redeemed, in full, the $307.4 million aggregate principal amount of its 8.75% Senior Subordinated Notes due 2011 (the "2011 Notes"). The 2011 Notes were redeemed in accordance with the terms of the indenture governing the 2011 Notes at a redemption price of 104.375% of the principal amount of the 2011 Notes plus accrued and unpaid interest. The redemption of the 2011 Notes and payment of accrued interest was funded from the net proceeds of STG's recently financed $225.0 million Term Loan A-1, a drawdown of its revolving facility and available cash on hand.

First Call Analyst: Lucy Rutishauser

Source: Sinclair Broadcast Group, Inc.

CONTACT: David Amy, EVP & Chief Financial Officer, or Lucy Rutishauser,
Treasurer, both of Sinclair Broadcast Group, Inc., +1-410-568-1592

Web site: http://www.sbgi.net/

Company News On-Call: http://www.prnewswire.com/comp/110203.html

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