Sinclair (NASDAQ:SBGI) said on Tuesday that Sinclair Television Group and certain affiliated entities have  entered into a Transaction Support Agreement with certain of STG's secured creditors on the principal terms of new money financings and a debt recapitalization to strengthen the company’s balance sheet and better position it for long-term

In an effort to boost its liquidity and better position itself for long-term growth, Sinclair Television Group and certain affiliates have entered into a "transaction support" agreement with some of its creditors for new financing and debt recapitalization to strengthen its balance sheet.

The transactions, as contemplated in the TSA, demonstrate the strong support of our creditors in positioning the Company for long-term success by enhancing its financial liquidity and flexibility,” said Chris Ripley,