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komonews.com

Founded Year

1953

About KOMO Newsradio

KOMO 4 TV provides news, sports, weather, and local event coverage. It is based in Seattle, Washington.

KOMO Newsradio Headquarters Location

140 4th Avenue, N Suite 370

Seattle, Washington, 98109,

United States

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Latest KOMO Newsradio News

Sinclair Closes Refinancing and Extension of STG Credit Facilities

Apr 21, 2022

April 21, 2022 12:49 PM Eastern Daylight Time BALTIMORE--( BUSINESS WIRE )--Sinclair Broadcast Group, Inc. (“Sinclair” or the “Company”) (Nasdaq: SBGI) announced today that its wholly-owned subsidiary, Sinclair Television Group, Inc. (“STG”), has entered into the Fourth Amendment (“Fourth Amendment”) to its Seventh Amended and Restated Credit Agreement, dated as of August 23, 2019, as amended with JPMorgan Chase Bank, N.A., as administrative agent, the guarantors party thereto and the lenders and other parties thereto, to, among other things, provide for the incurrence of new term loans in an aggregate principal amount of $750 million (the “Term B-4 Loans”), refinance all outstanding term B-1 loans and extend the maturity of $612.5 million of revolving commitments to April 21, 2027. The proceeds of the Term B-4 Loans are being used to refinance all of the existing term B-1 loans and to redeem STG’s outstanding 5.875% senior notes due 2026. The Term B-4 Loans will mature on April 21, 2029 and will bear interest, at the option of STG, at Term SOFR plus 3.75% (subject to customary credit spread adjustments) or at base rate plus 2.75%. This description of the Fourth Amendment is only a summary, and is qualified in its entirety by reference to the complete amendment, a copy of which will be filed today with the Securities and Exchange Commission (“SEC”) as an exhibit to a Current Report on Form 8-K. Forward-Looking Statements: The matters discussed in this news release include forward-looking statements regarding, among other things, future events and actions. When used in this news release, the words “outlook,” “intends to,” “believes,” “anticipates,” “expects,” “achieves,” “estimates,” and similar expressions are intended to identify forward-looking statements. Such statements are subject to a number of risks and uncertainties. Actual results in the future could differ materially and adversely from those described in the forward-looking statements as a result of various important factors, including and in addition to the assumptions set forth therein, but not limited to: the potential impacts of the COVID-19 pandemic on our business operations, financial results and financial position and on the world economy, including the significant disruption to the operations of the professional sports leagues, need to provide rebates to our distributors related to canceled professional sporting events, and loss of advertising revenue due to postponement or cancellation of professional sporting events, and reduced consumer spending as a result of shelter in place and stay at home orders; our ability to generate cash to service our substantial indebtedness; successful execution of outsourcing agreements; the successful execution of retransmission consent agreements; the successful execution of network affiliation and distribution agreements; the successful execution of media rights agreements with professional sports teams; the impact of OTT and other emerging technologies and their potential impact on cord-cutting; the impact of distributors offering "skinny" programming bundles that may not include all programming of our networks; pricing and demand fluctuations in local and national advertising; the successful implementation and consumer adoption of our sports direct to consumer platform; volatility in programming costs; the market acceptance of new programming; our ability to identify and consummate acquisitions and investments, to manage increased leverage resulting from acquisitions and investments, and to achieve anticipated returns on those investments once consummated; the impact of pending and future litigation claims against the Company; the ongoing assessment of the October cybersecurity event, material legal, financial and reputational risks resulting from a breach of the Company's information systems, and operational disruptions due to the cybersecurity event; the impact of FCC and other regulatory proceedings against the Company, uncertainties associated with potential changes in the regulatory environment affecting our business and growth strategy; and any risk factors set forth in the Company's recent reports on Form 10-Q and/or Form 10-K, as filed with the Securities and Exchange Commission. There can be no assurances that the assumptions and other factors referred to in this release will occur. The Company undertakes no obligation to publicly release the result of any revisions to these forward-looking statements except as required by law. Contacts

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  • When was KOMO Newsradio founded?

    KOMO Newsradio was founded in 1953.

  • Where is KOMO Newsradio's headquarters?

    KOMO Newsradio's headquarters is located at 140 4th Avenue, N, Seattle.

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