M&A Deal Summary

Sinclair Broadcast Group Acquires Sullivan Broadcasting

On March 16, 1998, Sinclair Broadcast Group acquired media company Sullivan Broadcasting from ABRY Partners and Charlesbank Capital Partners

Acquisition Highlights
  • This is Sinclair Broadcast Group’s 1st transaction in the Media sector.
  • This is Sinclair Broadcast Group’s 1st transaction in the United States.
  • This is Sinclair Broadcast Group’s 1st transaction in Massachusetts.

M&A Deal Summary

Date 1998-03-16
Target Sullivan Broadcasting
Sector Media
Buyer(s) Sinclair Broadcast Group
Sellers(s) ABRY Partners
Charlesbank Capital Partners
Deal Type Add-on Acquisition

Target

Sullivan Broadcasting

Boston, Massachusetts, United States
Sullivan Broadcasting Co. was a broadcasting Company, provides a local television and radio service.

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Buyer(S) 1

Buyer

Sinclair Broadcast Group

Hunt Valley, Maryland, United States

Category Company
Founded 1986
Sector Media
Employees7,300
Revenue 3.1B USD (2023)
DESCRIPTION

Sinclair Broadcast Group is a television broadcasting company, owns or provides programming, operating, or sales services to television stations in the United States. Sinclair Broadcast Group was founded in 1986 and is based in Hunt Valley, Maryland.


DEAL STATS #
Overall 1 of 11
Sector (Media) 1 of 8
Type (Add-on Acquisition) 1 of 8
State (Massachusetts) 1 of 1
Country (United States) 1 of 11
Year (1998) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2000-08-18 Grant Television

Fort Lauderdale, Florida, United States

Alta was the founding investor in Grant Television, a company formed by veteran television entrepreneur Milt Grant to finance the purchase and commercial start-up of WNYO-TV, Channel 49, in Buffalo (WB affiliation).

Buy -

Seller(S) 2

SELLER

ABRY Partners

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1989
PE ASSETS 12.8B USD
Size Mega
Type Sector Focused
DESCRIPTION

ABRY Partners is a media and communications focused private equity investment firm. Specific areas of interest include television, publishing, convention/trade shows, for-profit training, couponing, monitoring services, telephone companies, communications towers, music libraries, database providers, wireless communications, and in-store advertisers. ABRY can provide both equity and mezzanine capital, typically committing $20 to $200 million of equity or $15 to $50 million of mezzanine capital per transaction. Prospective transaction situations include buyouts, expansion financings, platform acquisitions, consolidations, and recapitalizations. ABRY Partners was formed in 1989 and is headquartered in Boston, Massachusetts.


DEAL STATS #
Overall 1 of 103
Sector (Media) 1 of 8
Type (Add-on Acquisition) 1 of 53
State (Massachusetts) 1 of 6
Country (United States) 1 of 88
Year (1998) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1998-01-01 Muzak

Fort Mill, South Carolina, United States

Muzak is the world's largest background music provider.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
1998-04-01 Archives One

Boston, Massachusetts, United States

ArchivesOne, Inc. provider of records and information management services in the United States. The Company’s primary service offering is the storage of boxed hardcopy records. The Company also provides storage of electronic media and other customer material as well as certain complementary services. ArchivesOne provides these services to generally small and midsize clients in document intensive industries through its records storage centers in 17 metropolitan markets.

Buy -
SELLER

Charlesbank Capital Partners

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1998
PE ASSETS 6.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Charlesbank Capital Partners is a private equity firm focused on investing in companies at various stages of development, including private and public companies, distressed situations, as well as later stage high growth businesses. Charlesbank typically invests $50 to $150 million per deal, in companies valued between $150 million and $3 billion. Industries of interest include consumer products, distribution, energy, financial services, food, education, health-care products and services, manufacturing, media and communications, and retail. Charlesbank Capital Partners is based in Boston, Massachusetts with an additional office in New York City.


DEAL STATS #
Overall 3 of 50
Sector (Media) 1 of 1
Type (Add-on Acquisition) 2 of 18
State (Massachusetts) 2 of 6
Country (United States) 3 of 46
Year (1998) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1998-02-18 Bell Sports

Rantoul, Illinois, United States

Bell Sports, Inc. is a designer, developing, and marketing of bicycle helmets and accessories in North America and Europe.

Buy $215M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
1998-06-25 PriCellular

New York, New York, United States

PriCellular, founded by industry entrepreneur Robert Price, operated cellular telephony networks, primarily in rural and smaller metropolitan markets. The investment was made in connection with the initial acquisition by PriCellular of cellular properties in Minnesota and Wisconsin, and the business plan contemplated an extensive acquisition program involving similar rural and small metro properties.

Sell -