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

The deal is designed to strengthen the TV station owner's balance sheet and better position itself for long-term growth

Sinclair Inc.'s "Sinclair Television Group Inc." group and "certain affiliated entities" have entered into a Transaction Support Agreement with a group of secured creditors — including lenders holding term loads under its existing credit facilities and some noteholders on the terms of new money financings.

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,

A "comprehensive, multi-year agreement" is now in place that prevents any Sinclair Inc. from engaging in a "Great Affiliate Swap" for the foreseeable future. The Baltimore-headquartered broadcast TV station owner successfully renewed a new agreement with NBCUniversal that keeps station affiliation agreements in place for Sinclair's 21 stations carrying NBC network programming.