Sinclair Stock Price, News & Analysis

Sinclair Broadcast Group, Inc. (SBGI) announced that its subsidiary, Sinclair Television Group, Inc., plans to amend its credit agreement. This amendment includes new term loans to refinance an existing loan maturing on January 3, 2024, extending the loan's maturity to seven years post-amendment. It also intends to redeem 5.875% senior notes due in 2026 and extend its revolving credit facility's maturity by five years. The amendment is subject to customary market conditions.

Sinclair Broadcast Group (NASDAQ: SBGI) has appointed Hilary Walker as Vice President/General Manager of WTGS (FOX) in Savannah, GA, overseeing services for WGFL (CBS) and WNBW (NBC) in Gainesville, FL. Walker, who previously served as Local Sales Manager at WGFL and WNBW, expressed her excitement to lead the teams and build on their successes. This appointment reflects Sinclair's strategy to strengthen local management and enhance viewer experiences in key markets.

Sinclair Broadcast Group (NASDAQ: SBGI) announced the appointment of Cory Culleton as Vice President/General Manager of WEAR and WFGX in Pensacola, FL. Culleton brings over 20 years of experience in television and digital strategies, previously serving as VP and General Manager in Gainesville, FL. Sinclair's COO, Rob Weisbord, expressed enthusiasm for Culleton's leadership capabilities. Culleton holds a Bachelor of Science in Communications from Liberty University and is focused on enhancing local community relationships.

Sinclair Broadcast Group has successfully raised over $215,000 through its fundraising initiative Sinclair Cares: Ukraine Relief. This effort, in partnership with the Global Red Cross, aims to support humanitarian relief in Ukraine and neighboring countries. Individual donations exceeded $165,000, coupled with a $50,000 match from SBGI. The funds will provide essential aid, including food, fuel, and medical supplies, at a critical time for those in need.

Sinclair Broadcast Group (SBGI) has launched a new business unit named Free State Strategic Services aimed at providing digital marketing and advertising solutions to federal, state, and local government agencies. The initiative involves targeted communication strategies to enhance public engagement.

Led by Brandon Nickerson, the new unit will focus on sectors including defense, healthcare, and education. Corporate VP, Antonia DeFeo, indicated this move aims to expand Sinclair's footprint in the digital marketing space at governmental levels.

Sinclair Broadcast Group announced the launch of NextGen TV, a new digital broadcast technology, across five Albany stations including WTEN (ABC), WRGB (CBS), WXXA-TV (FOX), WCWN (CW), and WMHT (PBS). This upgrade, based on ATSC 3.0, promises improved video quality with vibrant colors and enhanced audio, designed to enhance viewer experience. The transition marks a decade of development and aims to reach audiences across more than 40 cities. Viewers can rescan their TVs for uninterrupted service as the rollout continues.

Sinclair Broadcast Group (Nasdaq: SBGI) announced that Alan B. Frank, Senior Vice President and Group Manager, will be inducted into the Pennsylvania Broadcast Hall of Fame by the Pennsylvania Association of Broadcasters (PAB). This honor recognizes his over 30 years of service and leadership in the broadcasting industry. Frank oversees Sinclair's operations in 14 markets and has a rich 50-year career, with significant contributions in Pennsylvania, Florida, and New York. He will receive the honor at the PAB Gold Medal Dinner on December 15, 2022, in Philadelphia.

Sinclair Broadcast Group (SBGI) announced the completion of its private Exchange Offer, successfully settling approximately $3,036 million of its 5.375% Senior Secured Notes due 2026. By the expiration of the Exchange Offer on March 14, 2022, a total of $3,809,000 of additional notes were exchanged. Following the final settlement on March 16, 2022, about $3,040 million of Exchange Secured Second Lien Notes and $10 million of Existing Secured Notes remain outstanding. The Exchange Notes are fungible but were not registered under the Securities Act.