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.
Sinclair Broadcast Group (NASDAQ: SBGI) announces WGME in Portland, ME, and KOMO in Seattle, WA, have won National Edward R. Murrow Awards from the RTDNA. WGME earned the award for Overall Excellence in Small Market Television, while KOMO's Eric’s Heroes series was recognized for Best Sports Reporting. Additionally, Sinclair's newsrooms collectively received 22 Regional Edward R. Murrow Awards this year, showcasing their commitment to exceptional local journalism.
Sinclair Broadcast Group, Inc. (SBGI) announced a conference call to discuss Diamond Sports Intermediate Holdings LLC's second quarter financial results on August 18, 2022, at 9:00 a.m. ET. Interested parties can access the call via the company's website, where Diamond's Consolidated Financial Statements and management's discussion will be posted. A replay of the call will also be available on the website. The call will accommodate media members in a listen-only mode. This announcement reflects Sinclair’s ongoing commitment to shareholder communication and transparency.
Sinclair Broadcast Group (Nasdaq: SBGI) announced the appointment of Richard Cooke as VP of Audio Programming and Lou Ferrara as VP of Consumer Data and Strategy. Cooke will enhance the company's audio content strategy, leveraging his experience from Cadence13 and FOX Sports. Ferrara will focus on consumer data platforms to improve personalized services. These roles aim to boost Sinclair's digital audience and revenue growth, with a commitment to expanding first-party data capabilities.
Sinclair Broadcast Group (SBGI) declared a $0.25 quarterly cash dividend on its Class A and Class B common stock. This dividend is payable on September 15, 2022, to shareholders on record as of September 1, 2022. Sinclair operates 185 television stations across 86 markets and owns networks like Tennis Channel and Stadium, making it a significant player in the media industry.
Sinclair Broadcast Group (Nasdaq: SBGI) reported its financials for Q2 and the first half of 2022, highlighting significant changes due to the deconsolidation of its local sports segment. For Q2, total revenues dropped 48% to $837 million, while advertising revenue decreased by 25% to $366 million. However, political advertising surged to a record $54 million. The net loss attributable to the Company was $11 million, a notable improvement from a $332 million loss in the previous year. The Company repurchased $118 million in notes and aims to further enhance digital revenue.
Sinclair Broadcast Group (SBGI) has announced agreements with Korean Broadcasting System (KBS) and Munhwa Broadcasting Corporation (MBC) to develop and implement NextGen Broadcast (ATSC 3.0) technologies in Korea and the U.S. This collaboration aims to create innovative business models, including Data Distribution as a Service (DDaaS). Recent demonstrations in Seoul showcased enhanced GPS capabilities using this new technology. Sinclair's executives emphasize the revenue potential from NextGen applications and the importance of cooperation with South Korean partners in this evolving broadcast landscape.
Sinclair Broadcast Group (Nasdaq: SBGI) has appointed Stephen Clare as Vice President of Finance, overseeing Financial Planning and Business Development. Clare joins from Audacy, bringing extensive media financial expertise. He previously held executive roles at Media General and LIN Media and has a history with Sinclair as Assistant Controller. Lucy Rutishauser, CFO of Sinclair, expressed enthusiasm for Clare's return. Sinclair operates 185 television stations and several national networks, delivering content via various platforms.
Sinclair Broadcast Group (NASDAQ: SBGI) has appointed Diana Wilkin as the new Vice President/General Manager of KOKH/FOX and KOCB/CW in Oklahoma City. Wilkin, previously a Managing Partner at Twelve 24 Media, brings extensive media experience, having held leadership roles at CBS and FOX. Sinclair's COO, Rob Weisbord, expressed confidence in her ability to enhance local news operations. Wilkin is a graduate of the University of Southern California and remains active in various broadcasting associations.
Sinclair Broadcast Group (NASDAQ: SBGI) will announce its second quarter 2022 earnings on August 3, 2022, at 7:30 a.m. ET. A conference call to discuss the results will follow at 9:00 a.m. ET. Interested parties can access the live webcast and find more information on the company's website. A replay of the call will also be available on the website. Members of the media are invited to join in a listen-only mode, and executives will be available for questions afterward.
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