Sinclair Broadcast Group, which is paying $985 million for Allbritton's TV holdings, intends to use the latter's NewsChannel 8 to create a national news network to rival CNN and Fox News, Sinclair CEO David Smith said. The network will leverage content from Sinclair's 101 news-producing stations in 71 markets, Smith added. "The story is not that we're buying Allbritton. We're looking at NewsChannel 8 as an opportunity for the broadcast industry to create something that's never been created at the local level," he said.
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