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.
Diamond Sports Group, LLC, a subsidiary of Sinclair Broadcast Group (NASDAQ: SBGI), has completed transactions expected to enhance liquidity by approximately
Sinclair Broadcast Group (SBGI) announced significant participation in its Exchange Offer, where nearly $3.036 billion of senior secured notes were validly tendered. This represents 99.5% of the outstanding notes not held by the company. The proposal includes amending the existing notes' indenture to allow for new financing arrangements and eliminate restrictive covenants. The Exchange Offer aims to exchange existing senior notes due in 2026 for new second lien secured notes. Holders have until March 14, 2022, to participate in the offer.
Sinclair Broadcast Group, Inc. (NASDAQ: SBGI) has declared a quarterly cash dividend of $0.25 per share, marking a 25% increase from previous distributions. This dividend is payable on March 21, 2022, to shareholders recorded by March 7, 2022. The company operates in diversified media, owning and managing 185 TV stations across 86 markets and several national sports networks like Tennis Channel and Stadium, delivering content through various platforms including digital and streaming.
Sinclair Broadcast Group (Nasdaq: SBGI) reported its Q4 and FY 2021 financial results, showing a 2% decrease in total revenues to $1.476 billion for Q4, primarily impacted by a cyber incident resulting in a projected $24 million net loss. The company raised its quarterly dividend by 25% and ended the year with a $1.4 billion investment portfolio. The adjusted EBITDA for Q4 fell 62% to $234 million, while the total net loss attributable to Sinclair was $89 million. However, core advertising revenues improved by 4%, and expanded agreements with NBA and NHL enhance future prospects.
Sinclair Broadcast Group (Nasdaq: SBGI) has appointed Rob Weisbord as Chief Operating Officer and President of Broadcast. With over 40 years in the industry, Weisbord will oversee the company's operations across its television stations, regional sports networks, and digital platforms, expanding Sinclair's multi-platform content strategy. Celebrated for his leadership since joining Sinclair in 1997, Weisbord previously served as Chief Advertising Revenue Officer. Sinclair operates 185 television stations and several national networks, making it a key player in local news and sports.
Sinclair Broadcast Group (NASDAQ: SBGI) has appointed Todd Bernstein as the Station Manager of WJLA-ABC7 and WJLA-24/7 in Washington, DC. Bernstein, who has over 25 years of experience and has been with WJLA since 2005, was previously the Director of Sales. In his new role, he will oversee sales as well as programming like Government Matters and Good Morning Washington. William Fanshawe, Senior VP and General Manager, praised Bernstein's contributions and leadership capabilities. Sinclair operates 185 television stations and provides various media services across multiple platforms.
Sinclair Broadcast Group announces its next News Reporter Academy virtual session on March 30, aimed at college students interested in news reporting. This interactive workshop will cover essential skills such as news reporting basics, investigative storytelling, social media management, and creating a professional resume. The session is open for 150 students, with registration required by March 25. Sinclair's ongoing commitment to education follows the success of its Producer Academy, enhancing career prospects for future journalists.
Sinclair Broadcast Group (SBGI) announced the upcoming redemption of $31 million in Senior Secured Notes due 2026 on March 2, 2022. This action requires consent from holders of existing 5.375% Secured Notes and lenders of Diamond Sports Group's term loans. The redemption price includes the principal, applicable premium, and accrued interest. Funding will come from cash on hand or net proceeds from a new term loan of at least $635 million. The release also notes potential risks impacting future performance, including COVID-19 effects and significant debt obligations.
Sinclair Broadcast Group (SBGI) announced a private exchange offer for its existing 5.375% Senior Secured Notes due 2026, allowing Eligible Holders to exchange these for new 5.375% Second Lien Secured Notes. The exchange is subject to obtaining consents from 66 2/3% of Existing Secured Notes holders. The offer is linked to a new $635 million term loan and involves amendments to the existing notes’ indenture, reducing restrictive covenants. The exchange offer will expire on March 14, 2022, with early tender considerations available until February 28, 2022.
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