David Amy, vice chairman of Sinclair Broadcasting Group Inc., sold $1.2 million worth of stock, according to a filing with the Securities and Exchange Commission.
Between March 2 and March 3, Amy sold 3,334 shares at a price of $40.08 and an additional 28,000 at a price of $40.87.
The entire exchange has a total value of $1,278,054.
Sinclair Broadcasting was founded in 1986 and owns and operates 173 stations and 508 channels. Sinclair is one of the largest and most diversified broadcast companies in the country.
On March 1, Sinclair Broadcast Group acquired the assets of Tennis Media company, the owner of Tennis magazine and Tennis.com.
According to a press release, “The acquisition will create a unified media platform that combines Tennis.com, the most visited online tennis platform in the world, and Tennis magazine, the sport’s most circulated print publication, with Sinclair’s Tennis Channel.”
March 1 was also a day of acquisition rumors for the broadcast company. According to reports, Sinclair Broadcast Group approached Chicago-based Tribune Media Co. about a possible merger or acquisition.
Sinclair Broadcasting trades on Nasdaq under the ticker SBGI. Shares are trading at $41.15 midday Friday, up 0.61 percent, or 25 cents.
