Washington, DC -- Paul Hastings, a leading global law firm, announced today that the firm advised the Allbritton family in the sale of its equity interests in Perpetual Corporation, the parent company of Allbritton Communications Company, and Charleston Television, LLC, to Sinclair Broadcast Group, Inc., for $985 million.
The Allbritton television station group consists of seven ABC Network affiliates, covering 4.9% of the U.S. TV households, and NewsChannel 8, a 24-hour cable/satellite news network covering the Washington D.C. metropolitan area. The transaction is expected to close and fund in the fourth quarter of 2013, pending customary closing conditions.
Media M&A partner Eric Dodson Greenberg and associate Scott Oross led the Paul Hastings team, which also included Antitrust chair and partner Michael P.A. Cohen, Employment partner Mark Poerio and associates Matthew Gibson, Laura McGurty, Matthew Stoker, and Michael Wise.
Paul Hastings LLP is a leading global law firm with offices in Asia, Europe, and the United States. We provide innovative legal solutions to financial institutions and Fortune 500 companies. Please visit www.paulhastings.com for more information.