Paul Hastings Advises Allbritton Communications Company in $985 Million Sale of Television Stations to Sinclair Broadcast Group
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.
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