Sinclair Stock Price, News & Analysis

At Sinclair Broadcast Group's Annual Shareholders’ Meeting, shareholders elected nine Directors, including David D. Smith as Executive Chairman. The meeting also saw the ratification of PricewaterhouseCoopers, LLP as the independent registered public accounting firm for the 2022 fiscal year. Additionally, the shareholders approved the 2022 Stock Incentive Plan and amendments to the Company's Articles of Incorporation regarding the exculpation of officers and directors. Full voting results will be disclosed in a Current Report on Form 8-K.

The television stations WLOS, WSPA-TV, WHNS, WYFF, and WMYA-TV have launched NextGen TV broadcasting technology in the Greenville-Spartanburg-Asheville market, enhancing viewer experience with improved video quality and sound. Powered by ATSC 3.0, NextGen TV offers features like advanced emergency alerts and the potential for real-time Internet content integration. This upgrade follows a decade of development and is part of a nationwide rollout with service already available in over 45 cities. Viewers in Greenville can learn more at www.WatchNextGenTV.com.

Diamond Sports Group, a subsidiary of Sinclair Broadcast Group (NASDAQ: SBGI), has appointed Michael Schneider as the new Chief Operating Officer and General Manager of Bally Sports+. Schneider will oversee the Bally Sports+ platform, enhancing viewer engagement with live sports content. Previously, he led Hulu's marketing efforts and was part of the PlayStation Vue launch team. Schneider aims to redefine local sports viewing experiences by offering interactive and meaningful ways for fans to connect with their favorite teams.

Sinclair Broadcast Group (NASDAQ: SBGI) has appointed Scott Ehrlich as Chief Innovation Officer, a newly created role aimed at enhancing innovation across the company. This position will lead a dedicated research and development group focusing on content, technology, audience development, and distribution. Ehrlich, who has extensive experience in television and media, previously served as SVP of Growth Networks and Content. His track record includes pioneering efforts in streaming media, notably launching RealNetworks’ SuperPass. The company continues to evolve its media offerings under his leadership.

Sinclair Broadcast Group (NASDAQ: SBGI) has appointed Ryan Moore as Chief Revenue Officer/SVP of Digital Sales and Sports. Moore, who previously served as Senior VP of Digital Sales since 2019, will now oversee revenue and sales strategies for Tennis, Stadium, and Bally Sports, in addition to his existing responsibilities. COO Rob Weisbord lauded Moore’s financial leadership and history in digital revenue strategy. Moore, with a BA in Communications from Seattle University, aims to scale company growth and enhance customer connections.

Sinclair Broadcast Group (Nasdaq: SBGI) declared a quarterly cash dividend of $0.25 per share on its Class A and Class B common stock. This dividend will be payable on June 15, 2022, to shareholders on record as of June 1, 2022. Sinclair operates 21 regional sports networks and 185 television stations across 86 markets, offering a variety of content through multiple platforms, including digital and streaming channels. For more information, visit www.sbgi.net.

Sinclair Broadcast Group (Nasdaq: SBGI) reported its Q1 2022 financial results, highlighting a 7% increase in Broadcast & Other advertising revenue year-over-year. The company recognized a $3.4 billion pre-tax gain from asset dispositions following the recapitalization of its Diamond Sports Group subsidiary. Despite a 14.8% drop in total revenues to $1.288 billion, net income improved significantly to $2.587 billion from a loss of $12 million a year prior. The diluted EPS rose to $35.39 compared to a loss of $0.16, indicating positive momentum ahead.