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 Broadcast Group (SBGI) announced the return of “Full Measure with Sharyl Attkisson” for its seventh season, starting September 12. This season will launch with an investigation into the US-Mexico border crisis, including record illegal immigration numbers and a rise in Covid-19 cases. The show, which reaches over one million households weekly, has experienced a 26% audience increase since 2020. Attkisson emphasizes the importance of ongoing fact-based reporting, showcasing the program's growth and its commitment to impactful storytelling.
Sinclair Broadcast Group (Nasdaq: SBGI) appointed Franco Gentile as Vice President/General Manager of KPTM (FOX) in Omaha, Nebraska, overseeing services for KXVO (CW affiliate). Gentile, with a strong history at Sinclair since 2004, previously served as Director of Sales in Columbus, Ohio, where he successfully led sales teams. Rob Weisbord, Sinclair's President of Broadcast, expressed confidence in Gentile's ability to enhance station performance. Gentile aims to serve the Omaha community effectively while integrating with local stakeholders.
Bally Sports, part of Sinclair Broadcast Group (NASDAQ: SBGI), has appointed Rebecca O’Sullivan-Schulte as Senior Vice President and General Manager for Bally Sports West, SoCal, and San Diego. Announced by Steve Rosenberg, this decision aims to bolster operations in Southern California, a region O’Sullivan-Schulte is familiar with as a native. With 15 years of experience in the RSN sector, she previously led NBC Sports Washington. Bally Sports operates 19 regional networks, broadcasting over 4,500 local professional sports events annually.
Tennis Channel, owned by Sinclair Broadcast Group (Nasdaq: SBGI), has launched its Tennis Channel International streaming service in the U.K., starting August 19. The service provides exclusive 24-hour coverage of tennis, including original series, documentaries, and live events. Upcoming highlights include the UK Pro League and LTA National League Finals. The service is available for £2.49 per month on various platforms. President Ken Solomon emphasized the global demand for tennis coverage, reflecting successful previous launches in Europe.
Sinclair Broadcast Group (Nasdaq: SBGI) has announced the promotion of Daniel J. Hoffman to Senior Vice President of Sales Transformation, effective immediately. Hoffman, who has over 25 years of experience in the broadcast and cable industry, will lead the integration of data and technology into sales processes. He will retain his current responsibilities overseeing 15 properties across the company. This move follows the retirement of Dan Mellon, enhancing Sinclair's sales strategy and productivity to drive revenue growth.
Sinclair Broadcast Group (Nasdaq: SBGI) has appointed William Bell as the new Head of Distribution and Network Relations. He will manage the distribution of Sinclair's content, including broadcast stations and regional sports networks, reporting to David Gibber. Bell joined Sinclair in 2015 and previously held the role of Director, Senior Corporate Counsel. His leadership aims to enhance Sinclair's market strategies and partnerships in an evolving media landscape, continuing the legacy of former executive Barry Faber.
Sinclair Broadcast Group (Nasdaq: SBGI) announced that it is unlikely to reach a carriage agreement with DISH Network before the current contract expires on August 16, 2021. If negotiations fail, 112 of Sinclair's broadcast TV stations, including major affiliates like ABC, CBS, FOX, and NBC, will be dropped from DISH Network. This loss affects local news, sports programming, and access to the Tennis Channel. Sinclair urges affected subscribers to contact DISH Network regarding the importance of maintaining these channels.
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