Sinclair is exploring selling a 30% stake in broadcast stations

Signs stand outside Sinclair Broadcast Group Inc.’s headquarters. In Cockeysville, Maryland, United States, on Friday, August 10, 2018.

Andrew Harrier | Bloomberg | Getty Images

Sinclair, one of the largest U.S. broadcast station owners, is looking to sell more than 30% of its footprint, according to people familiar with the matter.

The company has hired Moelis as an investment banker and has identified more than 60 stations in different regions of the United States that it would be willing to sell, said the people, who asked to remain anonymous because the discussions are private. Sinclair owns or operates 185 television stations in 86 markets.

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