KTUL Parent Company Sold to Sinclair Broadcast Group

Tulsa's Channel 8's parent company Allbritton Communications Company announced today the station group has been sold to the Sinclair Broadcast Group.

The Allbritton family has entered into an agreement to sell the stock of ACC's parent company, Perpetual Corporation and the equity interest of an affiliate, Charleston Television, LLC to the Hunt Valley, Maryland-based Sinclair Broadcast Group.

"Sinclair is the ideal buyer of our superb television stations," Robert Allbritton said in a press release. "Its existing reach and history of innovation matches exceptionally well with our long tradition of viewer service and news gathering excellence. David Smith and his team have been a pleasure to work with. I am confident that their leadership and resources will enable our stations to reach new heights of service to our communities."

Included in the $985 million deal are seven ABC affiliates in the following markets:

WJLA-TV, Washington, DC (#8)

WCFT-TV/WJSU-TV/WBMA-LP, simulcasting to Birmingham-Tuscaloosa-Anniston, AL (#42)

WHTM-TV, Harrisburg, PA (#43)

KATV, Little Rock, AR (#56)

KTUL, Tulsa, OK (#59)

WSET-TV, Lynchburg, VA (#68)

WCIV, Charleston, SC (#98) (held in an affiliated company)

Also included is NewsChannel 8, the 24-hour local cable/satellite news service collocated with WJLA and providing coverage to the Washington, DC metropolitan area.

Completion of the transaction is subject to customary closing conditions, including Federal Communications Commission approval and antitrust clearance, as applicable. Closing is anticipated in the fourth quarter of 2013, subject to the satisfaction of the closing conditions.