On September 8, 2011, Sinclair entered into an agreement to purchase all of the assets of Four Points Media Group from Cerberus Capital Management for $200 million. The Federal Trade Commission (FTC) gave its antitrust approval of the deal in late September; as a result, that October 1, Sinclair took over the management of the stations from the Nexstar Broadcasting Group through time brokerage agreements Cerberus would then pay Nexstar a portion of Sinclair's purchase price – $6.7 million – to terminate the outsourcing agreement, which was set to expire in March 2012, five months early. Sinclair would also supply working capital to the stations in consideration of service fees and performance incentives through the LMAs. The group deal was officially completed on January 1, 2012, after the FCC approved it on December 21, 2011. On November 2, 2011, it was announced that Sinclair would purchase all eight television stations owned by Freedom Communications in a move for Freedom to eliminate its debt. The purchase was valued at $385 million, and at the time, Sinclair was the ninth largest broadcasting group in the United States. Sinclair took over the operations of the Freedom stations on December 1, 2011, through time brokerage agreements. The deal was granted approval by the FCC on March 13, 2012, and was consummated on April 1.