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. reports news across its diversified media business, including local television stations affiliated with major broadcast networks, Tennis Channel, multicast networks CHARGE, Comet, ROAR and The Nest, and AMP Media digital content and podcasts. Company updates commonly address advertising revenue, distribution revenue, political advertising cycles, live sports programming, station operations and portfolio actions involving media or broadcast-technology assets.
Recurring Sinclair announcements also include quarterly financial results, cash dividends on its Class A and Class B common stock, debt and liquidity actions, investor conference participation, and community initiatives under the Sinclair Cares brand.
Sinclair Broadcast Group (SBGI) has appointed Camie Nicholas as Vice President/General Manager of KSAS (FOX and MyTV) and associated simulcast stations in the Wichita-Hutchinson market. Previously the General Sales Manager since 2017, Nicholas brings a strong revenue growth track record. Sinclair's COO, Rob Weisbord, highlighted her deep local relationships and success in enhancing station revenue. Nicholas expressed gratitude for the internal promotion and eagerness to lead her team.
Sinclair Broadcast Group (NASDAQ: SBGI) has announced that its investigative unit, Project Baltimore, is a finalist for the 2023 Alfred I. duPont-Columbia University Award. This recognition is based on their extensive reporting exposing corruption in the Baltimore Public School System, particularly concerning 'ghost students' and inflated enrollment. The investigation revealed taxpayers paid nearly $93 million for students whose whereabouts were unknown. As a consequence, the Maryland State Department of Education may require the City Schools to repay $1.6 million.
Sinclair Broadcast Group (SBGI) has announced a quarterly cash dividend of $0.25 per share for its Class A and Class B common stock. This dividend is set to be paid on December 15, 2022, to shareholders recorded by December 1, 2022. As a diversified media company, Sinclair operates and provides services to 185 television stations across 86 markets, along with owning several national networks such as the Tennis Channel. Sinclair's content reaches audiences through multiple platforms, including digital and streaming options.
Sinclair Broadcast Group (SBGI) reported its Q3 and YTD financial results for 2022, reflecting significant changes. Total revenues dropped 45% to $843 million, with advertising revenue also decreasing by 16%. However, core advertising revenue rose 14% when excluding local sports. Net income attributable to the company was $21 million, compared to $19 million the previous year. The company has initiated a broad plan to diversify revenue sources, underscoring their growth strategies. Sinclair's cash flow remains strong, with a $1.2 billion investment portfolio and a significant share repurchase program ongoing.
Sinclair Broadcast Group (NASDAQ: SBGI) reported hosting over 300 political events in 2022, including 56 local debates and 169 town hall meetings, enhancing local engagement ahead of midterm elections. A highlight was the debate between Governor Ron DeSantis and Charlie Crist, viewed by nearly 860,000 adults. Sinclair's 'Connect to Congress' initiative enabled 94 interviews with Congress members, fostering direct communication with constituents. This commitment to local news and public service is emphasized by Sinclair’s Senior VP of News, Scott Livingston, underscoring the importance of informing communities.
Sinclair Broadcast Group (NASDAQ: SBGI) has appointed John Manzi as Vice President/General Manager for its stations in Chico, California, including KRCR (ABC), KRVU (MyNet), and KUCO (Univision). Manzi, previously the VP/GM at KSAS and KMTW in Wichita, Kansas, is expected to leverage his leadership skills to enhance revenue and growth. COO Rob Weisbord expressed confidence in Manzi’s ability to replicate his past successes. Sinclair operates 185 television stations across 86 markets and continues to expand its media services.
Sinclair Broadcast Group (NASDAQ: SBGI) has announced growth for its Growth Networks Group, with a focus on the networks Comet, CHARGE!, and TBD. The addition of popular series like Stargate SG-1 and Without a Trace is expected to further drive audience engagement. The networks experienced double-digit ratings increases, with Comet's access up by 31% and CHARGE! also at 31%. With nearly 15 million new TV households added, the networks are set for a robust 2023 programming lineup starting in January.
Sinclair Broadcast Group (SBGI) and Disney Media & Entertainment Distribution (DIS) have announced a multi-year renewal of ABC affiliations across all Sinclair stations through 2026. This extends the partnership and includes renewals for three ABC affiliated stations in Rochester, NY, and Traverse City, MI. Sinclair's SVP, Will Bell, emphasized the value of this relationship in delivering popular entertainment and news programming, while Disney's John Rouse expressed enthusiasm for the continued collaboration to serve local markets effectively.
Sinclair Broadcast Group has partnered with Tennis Channel Studios and DLP Media Group to produce the documentary RIVALS, showcasing the historic football rivalry between Michigan and Ohio State. Premiering on November 5 across multiple platforms, the film features insights from sports legends and aims to explore the impact of sports on society. Notably, it represents TC Studios' debut foray into non-tennis documentaries. Sinclair will promote RIVALS through targeted marketing efforts, including airing trailers in various venues and hosting watch parties.
The television stations in the Wichita-Hutchinson market, including KAKE, KWCH-DT, KSAS-TV, KSNW, KPTS, KSCW-DT, and KMTW, have launched broadcasting with NEXTGEN TV, employing advanced digital broadcast technology. This upgrade aims to enhance viewer experience with improved video quality and sound, and it supports features like advanced emergency alerts. The rollout follows a decade of development, and viewers can receive programming in both NEXTGEN and existing DTV formats. Currently, NEXTGEN TV is operational in over 50 cities across the U.S.