BALTIMORE, Nov. 14 /PRNewswire-FirstCall/ -- Sinclair Broadcast Group,
Inc. (Nasdaq: SBGI), announced today that they have purchased approximately
95% of Alarm Funding Associates ("AFA") for approximately $5.5 million.
Alarm Funding is a regional security alarm operating and bulk acquisition
company. Following the investment, the company will continue to be managed
by its current management team.
AFA's strategy is to purchase the recurring monitoring and maintenance
contract revenue streams generated by full service alarm companies, thereby
providing alarm operating companies liquidity to continue to grow. There
are approximately 14,000 individual full service alarm companies in the
country, many looking for ways to use their recurring monthly revenues to
fund their liquidity needs. While the operator continues to provide
installation, service, sales and customer service functions, AFA, primarily
through a third party provider, provides the billing, collection and
monitoring services to the subscriber base.
About Alarm Funding Associates
Alarm Funding Associates is a security funding and acquisition company
dedicated to helping full service alarm operating companies continue their
growth without having to choose between selling out completely or borrowing
capital at unattractive terms. Alarm operating companies continue to
operate under their current brand name; maintain relationships with their
customers; provide service as they've done in the past; and work their
account base for referrals. For more information, visit the Alarm Funding
Associates website at http://www.alarmfundingassociates.com.
About Sinclair
Sinclair Broadcast Group, Inc., one of the largest and most diversified
television broadcasting companies, owns and operates, programs or provides
sales services to 57 television stations in 35 markets. Sinclair's
television group reaches approximately 22% of U.S. television households
and is affiliated with all major networks. Sinclair also holds investments
in various other lines of businesses. For more information, visit the
Sinclair website at http://www.sbgi.net.
SOURCE Sinclair Broadcast Group
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Related links:
http://www.sbgi.net
http://www.alarmfundingassociates.com
http://www.prnewswire.com/comp/110203.html/
CONTACT:
David Amy, EVP & CFO, Sinclair Broadcast
Group, Inc., +1-410-568-1500
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