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 (Nasdaq: SBGI) reported its financials for Q2 and the first half of 2022, highlighting significant changes due to the deconsolidation of its local sports segment. For Q2, total revenues dropped 48% to $837 million, while advertising revenue decreased by 25% to $366 million. However, political advertising surged to a record $54 million. The net loss attributable to the Company was $11 million, a notable improvement from a $332 million loss in the previous year. The Company repurchased $118 million in notes and aims to further enhance digital revenue.
Sinclair Broadcast Group (SBGI) has announced agreements with Korean Broadcasting System (KBS) and Munhwa Broadcasting Corporation (MBC) to develop and implement NextGen Broadcast (ATSC 3.0) technologies in Korea and the U.S. This collaboration aims to create innovative business models, including Data Distribution as a Service (DDaaS). Recent demonstrations in Seoul showcased enhanced GPS capabilities using this new technology. Sinclair's executives emphasize the revenue potential from NextGen applications and the importance of cooperation with South Korean partners in this evolving broadcast landscape.
Sinclair Broadcast Group (Nasdaq: SBGI) has appointed Stephen Clare as Vice President of Finance, overseeing Financial Planning and Business Development. Clare joins from Audacy, bringing extensive media financial expertise. He previously held executive roles at Media General and LIN Media and has a history with Sinclair as Assistant Controller. Lucy Rutishauser, CFO of Sinclair, expressed enthusiasm for Clare's return. Sinclair operates 185 television stations and several national networks, delivering content via various platforms.
Sinclair Broadcast Group (NASDAQ: SBGI) has appointed Diana Wilkin as the new Vice President/General Manager of KOKH/FOX and KOCB/CW in Oklahoma City. Wilkin, previously a Managing Partner at Twelve 24 Media, brings extensive media experience, having held leadership roles at CBS and FOX. Sinclair's COO, Rob Weisbord, expressed confidence in her ability to enhance local news operations. Wilkin is a graduate of the University of Southern California and remains active in various broadcasting associations.
Sinclair Broadcast Group (NASDAQ: SBGI) will announce its second quarter 2022 earnings on August 3, 2022, at 7:30 a.m. ET. A conference call to discuss the results will follow at 9:00 a.m. ET. Interested parties can access the live webcast and find more information on the company's website. A replay of the call will also be available on the website. Members of the media are invited to join in a listen-only mode, and executives will be available for questions afterward.
Sinclair Broadcast Group (NASDAQ: SBGI) has announced several promotions within its finance team. Daniel Gallagher is now VP, Operations Controller; Derek Nance rises to VP, Corporate Controller; Sheila Holland becomes AVP/Digital Controller; Chris Hummel is appointed AVP/Shared Services Controller; Chad Kornke steps up to AVP/Assistant Treasurer; and Billie-Jo McIntire is now AVP, Investor Relations. EVP & CFO Lucy Rutishauser praised the team for their contributions in complex accounting and business improvements as Sinclair continues to evolve.
Sinclair Broadcast Group (NASDAQ: SBGI) has appointed Joni Rippen as Vice President/General Manager of KHGI and KFXL in the Lincoln-Hastings-Kearney region of Nebraska. Rippen brings over 15 years of experience in sales leadership at these stations. Sinclair's COO, Rob Weisbord, expressed confidence in her ability to lead, highlighting her strong local roots. Rippen aims to enhance service to the community while leading the talented station team. Sinclair Broadcast Group operates numerous regional sports networks and television stations across the U.S.
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Sinclair Broadcast Group, Inc. (Nasdaq: SBGI) has appointed Robert Croteau as Vice President/General Manager of WRGB/CBS6 and WCWN/CW15 in Albany, NY. Croteau, who was previously Director of Sales at the stations, has nearly two decades of executive sales experience in the Albany market. Sinclair's COO, Rob Weisbord, praised Croteau's commitment and successful track record. Croteau expressed enthusiasm about leading the stations into the future, honoring their nearly 100-year history.
Four television stations in San Antonio, Texas, including KABB (FOX), WOAI-TV (NBC), KMYS (DABL), and KCWX (MyNet), have launched broadcasting with NEXTGEN TV technology. This upgrade provides viewers with enhanced video quality, advanced emergency alerts, and improved audio features, creating a more immersive viewing experience. The new service, powered by ATSC 3.0, follows a decade of development and is already available in over 45 cities nationwide. Viewers are encouraged to check for NEXTGEN TV compatibility and rescan their devices for uninterrupted service.