As part of Sinclair Broadcasting’s effort to gain regulatory approval to acquire Tribune Media, New York City-based Standard Media Group LLC announced on May 1 that it entered into a definitive agreement with Sinclair Broadcast Group Inc. of Hunt Valley, Md. to acquire Grand Rapids-based WXMI-TV and eight other stations around the country.
Tribune currently owns WXMI.
The Standard Media acquisition includes stations in Oklahoma City, Des Moines, Richmond, Va. and other markets.
“The stations we are acquiring in this transaction have tremendous potential in excellent markets,” newly appointed Standard Media CEO Deb McDermott said in a statement. “We are excited to work with the talented station teams established by Sinclair and Tribune and grow the business for years to come.
“Following this transaction, Standard Media will be well positioned to make further accretive acquisitions and we believe there is a compelling market opportunity to create another large player in the consolidating broadcast TV industry.”
The acquisition of the nine stations by Standard General is subject to regulatory approval. The deal is expected to close in conjunction with the Sinclair-Tribune deal.