Oft hated media company Sinclair just scooped up ‘Four Points Media’ and the seven station it owns from Cerberus Capital, one of the largest hedge funds. Three of the stations are in Palm Beach County – full power CW affiliate WTVX and two low power station WTCN – MyNetworkTV and WWHB an Azteca affiliate. In all Sinclair will pay $200 million for the stations, a 6.5 multiple of cash flow.
WTVX, WTCN and WWHB were bought by Viacom in 2004 back when the company wanted to make inroads into Palm Beach County and chase after Spanish language ad dollars by taking on Univision and Telemundo but that never transpired. The three TV stations were put up for sale in February of 2007 and in January of 2008 it was announced Cerberus bought the stations.