Sinclair Broadcast Group said Wednesday it has closed on its acquisition of the Tennis Channel for $350 million.
The deal by Hunt Valley-based Sinclair, one of the nation's largest independent broadcasters and the largest producer of local news, was announced in January. At the time, Sinclair said it was attracted to the only remaining independent major sports network as it expands its programming in areas such as sports and entertainment.
Sinclair said the purchase was funded through cash and a draw on its revolving line of credit.
The 24-hour sports cable channel, launched in 2003, airs 90 percent of U.S. live tennis. It focuses on professional tennis and the tennis lifestyle, airing the sport's top 100 tournaments. Original shows and specials cover health, fitness, travel and tennis news, and include documentaries.
Sinclair owns, operates and provides services to 171 local television stations in 81 markets.
Source : baltimoresun.com