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 has appointed Cindi Dias as the new Vice President and General Manager of KBAK (CBS) and KBFX (FOX) in Bakersfield, California. Dias, who previously served as the General Sales Manager for 17 years, brings 30 years of broadcast and multimedia sales experience to her new role. Rob Weisbord, Sinclair's Chief Operating Officer and President of Local Media, praised Dias's deep market relationships and successful management record.
Dias's career spans 26 years with KBAK and KBFX in Bakersfield, following earlier roles at Petry Television in Los Angeles and as an account executive for KERO and KSMJ radio in Bakersfield. In her statement, Dias expressed commitment to the Bakersfield community, employees, and advertisers, emphasizing her focus on innovation and world-class marketing opportunities to serve the community and adapt to the evolving broadcasting landscape.
Saankhya Labs, Free Stream Technologies, and Sinclair Inc. (SBGI) are collaborating to develop low-cost Direct-to-Mobile (D2M) devices for consumer trials in India. These devices will use Saankhya's Pruthvi-3 ATSC 3.0 chipsets, supporting India's semiconductor and self-reliance initiatives. The partnership aims to launch various D2M-enabled devices, including smartphones, USB dongles, STB/Gateways, and feature phones, demonstrating interoperability with mobile system-on-a-chip suppliers holding over 70% global market share.
Consumer trials are set to begin in the first half of 2025, targeting India's 300 million feature phone users. This initiative aligns with India's push for mobile technology expansion and Prime Minister Modi's vision for India's 'Techade'. The collaboration leverages Saankhya's end-to-end D2M technology expertise and Sinclair's experience with ATSC 3.0 standard deployment.
Sinclair has announced that Full Measure with Sharyl Attkisson will return for its tenth season starting on September 8. Hosted by award-winning journalist Sharyl Attkisson, the 30-minute weekly investigative news program airs on Sinclair television stations and live online. The show covers topics such as immigration, government waste, national security, and whistleblower reports. Season 10 will begin with a focus on immigration's impact on the upcoming presidential race and Europe's changing politics. SVP of News, Scott Livingston, notes the show's success in delivering impactful journalism. Since its 2015 launch, Full Measure has seen audience growth, including a 38% increase in total audience share. Attkisson and Executive Producer Batt Humphreys express gratitude for Sinclair's support and the audience's desire for independent reporting.
TBD., Sinclair's free broadcast network, has announced a deal with NBCUniversal Global TV Distribution to add previous seasons of Saturday Night Live to its daily schedule starting fall 2024. The network, which has seen a 122% ratings growth in the P25-54 demographic since 2023, will feature classic episodes from Seasons 4-37 and various 'Best of' specials alongside its existing comedy lineup.
SNL is scheduled to debut on TBD. on September 30, 2024, with a special all-day marathon of 'Best of' specials, before moving to its regular time slot on October 1. The network plans to air iconic sketches and characters, as well as assemble custom lineups for holidays and special occasions.
Sinclair Broadcasting Group (SBGI) has announced that two of its stations, WCHS in Charleston and WPDE in Myrtle Beach, have been honored with National Edward R. Murrow Awards by the Radio Television Digital News Association (RTDNA). WCHS won in the Best Hard News category for their story on serial rapist Charles Woods, while WPDE received the Excellence in Video award for 'Painting the Preserve'.
Earlier this year, 15 Sinclair-owned or operated content centers received a total of 22 Regional Edward R. Murrow Awards. Scott Livingston, Senior Vice President of News, emphasized the company's commitment to impactful local journalism and expressed pride in the award-winning work produced by WCHS and WPDE.
Sinclair is expanding its podcast division with new sports programming featuring top athletes, coaches, and experts. Launching on August 21 is 'The Triple Option', hosted by Urban Meyer, Mark Ingram II, and Rob Stone, offering analysis on college football, NFL, and leadership. On September 5, 'Throwbacks' with Matt Leinart and Jerry Ferrara will debut, combining sports opinions with family adventures.
The company has secured sponsorships from brands like Wendy's, BetMGM, NHTSA, and ZipRecruiter. Sinclair aims to leverage its linear, digital, and social assets for promotion and sales efforts. The podcasts will be available on YouTube, Apple Podcasts, Spotify, and other platforms, with short-form content across social channels. This expansion is part of Sinclair's evolution into a cross-media platform company, offering audiences unparalleled access to athletes and sports content.
Comet, a leading sci-fi and fantasy broadcast network, announced the success of Comet Fest 2024 and plans for Comet Fest 2025. The 2024 event, focusing on AI-themed franchises, saw a 40% year-over-year audience increase, attracting over 3.5 million viewers. Key highlights include:
- 102% increase in Persons 18-49 ratings
- Introduction of Hailee, an AI host and chatbot
- First-ever live event at Fine Arts Theater in Beverly Hills
- Double and triple-digit increases across P18-49 and P25-54 demographics
Comet Fest 2025 is set for next August, celebrating the Jurassic Park franchise.
WBFF's Project Baltimore, a special investigative reporting unit, has received two News & Documentary Emmy® Award nominations from The National Academy of Television Arts & Sciences (NATAS). The nominations are for Outstanding Regional Documentary and Outstanding Regional News Story: Investigative. Since its inception in 2017, Project Baltimore has garnered numerous accolades, including 4 National Investigative Reporters and Editors awards, 5 National Headliner awards, and 41 regional Emmy Awards. Scott Livingston, Senior Vice President of News, praised the team's commitment to impactful local reporting. The awards ceremony will take place on September 25 and 26.
Sinclair (Nasdaq: SBGI) has declared a quarterly cash dividend of $0.25 per share on its Class A and Class B common stock. The dividend is payable on September 13, 2024, to shareholders of record as of August 30, 2024. Sinclair is a diversified media company and leading provider of local news and sports, owning or operating 185 television stations in 86 markets. The company also owns Tennis Channel, multiple multicast networks, and 21 regional sports network brands. Sinclair delivers content through various platforms, including over-the-air, multi-channel video program distributors, and NewsON, the largest streaming aggregator of local news content.
Sinclair (Nasdaq: SBGI) reported its Q2 2024 financial results, showcasing impressive performance across various metrics. Total revenues increased by 8% to $829 million compared to $768 million in Q2 2023. Media revenues also saw an 8% rise, reaching $819 million. Notably, total advertising revenues climbed by 11% to $343 million. Distribution revenues grew by 4% to $435 million.
The company achieved an operating income of $64 million, a significant improvement from a $3 million loss in the prior year period. Net income was $17 million, a turnaround from an $89 million loss. Adjusted EBITDA rose by 42% to $158 million.
Sinclair has secured $146 million in political advertising for H2 2024, a substantial increase from $78 million in 2020. The full-year political advertising guidance is now projected to be between $385 million to $410 million, a 10% to 17% growth compared to 2020. The CEO, Chris Ripley, highlighted strong momentum and multiple cash flow drivers for a robust finish to the year.
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