Orange County Register's Freedom Overlords Sell 8 TV Stations to Conservative Concern
Now, it's possible liberty lovun Freedom sold its stations that are all outside California to Sinclair because of the buyer's political moxie. But more important to the bottom line is unhinging itself of the eight money suckers.
Coupled with recent sales of some newspapers outside Cali you've never heard of, the TV deal supposedly erases the debt that threatened to sink the whole Freedom enchilada. The company emerged from bankruptcy protection two years ago still $325 million in debt.
Ironically, Sinclair Media Group filed documents with the Securities and Exchange Commission in 2009 that stated it would have to file for Chapter 11 bankruptcy if $1.33 billion in debt could not be refinanced.
The Federal Communications Commission is expected to approve the Freedom-Sinclair deal by the end of the year. It would give the Maryland concern a total of 65 stations in 35 markets. New viewers can set their DVRs now for the next slew of anti-Obama rant shows.
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