Welcome to our dedicated page for Sinclair news (Ticker: SBGI), a resource for investors and traders seeking the latest updates and insights on Sinclair stock.
Sinclair, Inc. (NASDAQ: SBGI) is a prominent media company and the owner-operator of the second largest portfolio of television stations in the United States. With 185 full power stations situated in 86 markets, Sinclair has a sprawling network that significantly influences the broadcasting landscape. The company operates approximately 600 channels, of which 150 are affiliated with major national broadcasters such as Fox, ABC, CBS, and NBC. Additionally, Sinclair aligns over 80 channels with networks like The CW (Nexstar) and MyNetworkTV (Fox).
Beyond traditional television stations, Sinclair boasts ownership of the Tennis Channel and holds stakes in Marquee Sports Network and YES Network, thus providing a diversified range of sports content. This content is distributed to pay-TV providers, further extending Sinclair’s reach and impact in the media sector.
Sinclair's financial strategy has recently been a focal point, especially concerning its approach to managing debt maturities. A noteworthy development is the supportive stance of Chatham Asset Management, LLC, one of Sinclair's largest creditors. Chatham has proposed a public or private exchange of Sinclair's existing debt securities into new junior lien bonds, aiming to streamline the refinancing process and bolster market confidence.
Sinclair remains committed to maintaining a robust operational framework while addressing financial obligations efficiently. The firm's extensive network and strategic partnerships underscore its pivotal role in American broadcasting, making it a significant entity to watch in the media industry.
Nashville PBS and Sinclair Broadcast Group (NASDAQ: SBGI) have launched WNPT-VC, a new virtual ATSC 3.0 channel broadcasting on virtual channel 8-11. The channel mirrors Nashville PBS' main channel content while utilizing NEXTGEN TV technology, which combines over-the-air broadcasting with internet capabilities.
The new service offers enhanced features including:
- Higher-quality video with HDR capabilities
- Immersive audio
- Improved accessibility through closed captions
- Interactive program guides
This launch represents the first NEXTGEN implementation in Nashville and the second nationwide under Sinclair's agreement with America's Public Television Stations (APTS) to provide free carriage of APTS member stations in markets where Sinclair has deployed ATSC 3.0.
Sinclair has announced a significant network distribution agreement with FOX Television Stations to expand TBD TV's reach. Starting January 15, 2025, TBD TV will be available on FOX affiliates in five major markets: New York, Los Angeles, Chicago, Atlanta, and Phoenix, adding 22 million TV households to its coverage.
TBD TV, known for comedy programming and being the second youngest multicast network, will feature daily broadcasts of 'Saturday Night Live' in NY, LA, and Chicago, where SNL traditionally performs above NBC's national average. The network has shown strong growth, achieving its highest ratings in November with a 114% year-over-year increase in Total Day ratings for P25-54.
NewsON, a leading local news streaming service, has launched an upgraded app on Roku featuring enhanced user interface and new features. The service provides ad-supported access to local news content from over 285 TV stations across 135+ markets, covering more than 90% of the U.S.
Key enhancements include: interactive weather features with radar maps and forecasts; a Trending Stations Map for breaking news navigation; 'What'sON' - a new original series with daily themed content; and mobile-specific features for iOS and Android including short-form content, polls, user commenting, and push alerts. The service remains free to download with no login required across multiple platforms including Roku, Amazon FireTV, Samsung, Android TV, VIZIO, Web, iOS and Android, with an LG app in development.
Airtasker (ASX: ART) has secured $12 million in media capital through partnerships with Sinclair Broadcast Group (NASDAQ:SBGI) and Mercurius Media Capital LP. This brings Airtasker USA's total media capital raised in 2024 to $21.75 million.
The partnerships include $6 million in advertising inventory from Sinclair, accessing 185 TV stations across 86 US markets, and $6 million in premium advertising inventory from Mercurius. These deals follow earlier $9.75 million partnerships with iHeartMedia and TelevisaUnivision.
Since September, Airtasker's Los Angeles market has shown significant growth with +172% in posted tasks, +223% in GMV, +98% in user sign-ups, and +66% in Tasker sign-ups. The company reports 3M Taskers across US, UK, and Australia, with US completed tasks up 306% YoY.
Sinclair has announced that 'The Triple Option' podcast will broadcast live from the Army-Navy Game Media Row presented by USAA on December 13, 2024, from 12-1:30pm ET. The special broadcast, hosted by Urban Meyer, Mark Ingram II, and Rob Stone, will take place at the Military Women's Memorial in Arlington National Cemetery. USAA CEO Wayne Peacock will be a featured guest on the show.
The live broadcast will be available on the podcast's YouTube, X, and Facebook platforms (@3xoptionshow), with an on-demand version available later. USAA will maintain a strong presence across Sinclair's owned/operated station websites throughout December, with the partnership developed in collaboration with Publicis Lion Company.
Sinclair CEO Chris Ripley has congratulated Commissioner Brendan Carr on his appointment as Chairman of the Federal Communications Commission (FCC). Ripley expressed the company's intention to collaborate with Carr to enhance local broadcasting by promoting fair competition and eliminating unnecessary regulatory barriers that impede investment and innovation.
Sinclair Inc (SBGI) and the Indian Institute of Technology Bombay have signed a Memorandum of Understanding to collaborate on wireless broadcast technology development, focusing on ATSC 3.0 standard enhancements for Broadcast-to-Everything (B2X) applications. The partnership aims to advance capabilities in traffic management, 5G network integration, spectrum utilization, and low-latency datacasting. With India's large mobile and TV market, B2X technology promises to address network congestion and improve service quality. The collaboration will contribute to emergency management, remote education, agricultural techniques, and AI-based broadcasting applications.
Sinclair (Nasdaq: SBGI) has declared a quarterly cash dividend of $0.25 per share on both Class A and Class B common stock. The dividend will be paid on December 16, 2024, to shareholders of record as of December 2, 2024. Sinclair operates 185 television stations across 86 markets, owns Tennis Channel, and several multicast networks including Comet, CHARGE!, TBD., and The Nest. The company delivers content through multiple platforms, including over-the-air, multi-channel video program distributors, and NewsON.
Sinclair (Nasdaq: SBGI) reported its Q3 2024 financial results, showing a 20% increase in total revenues to $917 million compared to the prior year. Media revenues also rose by 20% to $908 million. Total advertising revenues surged by 42% to $433 million, with core advertising revenues growing by 1% year-over-year to $295 million. Political advertising revenues reached $138 million, a 31% increase over 2020. Distribution revenues rose by 5% to $434 million.
The company achieved an adjusted EBITDA of $249 million, up 72% from the previous year. Operating income increased to $179 million from $37 million, while net income attributable to Sinclair was $94 million, reversing a net loss of $46 million in the prior year. Diluted EPS was $1.43, up from a loss of $0.74 per share.
For the first nine months of 2024, total revenues increased by 10% to $2.544 billion, with adjusted EBITDA up 45% to $546 million. The company expects full-year adjusted EBITDA to increase by 54% to 56% year-over-year.
Tennis Channel is launching a direct-to-consumer streaming service on November 12, combining its 24-hour network with extensive live and on-demand content. The service will be available nationwide for $109.99 annually or $9.99 monthly through the Tennis Channel app and website. The platform will offer over 10,000 hours of tennis content, including live matches from over 100 tournaments, replays, highlights, and exclusive commentary. Current subscribers will receive the flagship channel at no extra charge, while cable and satellite customers will get authenticated access to enhanced content. The service covers ATP, WTA, Davis Cup, Billie Jean King Cup, United Cup, and Laver Cup events.
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