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Sinclair to Buy Raycom Station for $85M

Sinclair Broadcast Group announced Tuesday that it will buy the assets of WTVR, the CBS affiliate in the Richmond-Petersburg, Va., market, from Raycom Media for $85 million.

Pending Federal Communications Commission approval, the purchase is expected to close during the third quarter of 2008 and will bring to 59 the total number of stations under Sinclair’s purview.

Sinclair also announced that it will simultaneously sell the license assets of its Richmond Fox affiliate, WRLH, but will continue to provide sales and other nonprogramming services to the station.