04:22 PM EDT, 03/28/2024 (MT Newswires) -- Sinclair (SBGI) and its senior lenders struck a cooperation agreement that took effect Wednesday, Bloomberg News reported Thursday, citing people with knowledge of the matter.

The cooperation pact is open to holders of the television broadcasters' term loans, according to the sources. Sinclair had term loans at the end of 2023 totaling around $2.68 billion and maturing between September 2026 and April 2029, according to the company's 2023 annual report.

The company is also mulling divestment of its Tennis Channel network after drawing interests from buyers, Bloomberg reported.

Sinclair did not immediately respond to a request from MT Newswires seeking comment.

Sinclair shares were up 2% in Thursday's regular session.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)