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 (Nasdaq: SBGI) has declared a quarterly cash dividend of $0.20 per share for its Class A and Class B common stock. This dividend is set to be paid on March 24, 2021, to shareholders on record as of March 10, 2021. Sinclair continues to be a significant player in the media landscape, operating 21 regional sports network brands and 186 television stations across 87 markets, delivering content through various platforms including digital.
Sinclair Broadcast Group (Nasdaq: SBGI) reported a 7% decline in Q4 revenue year-over-year, totaling $1,512 million, despite a significant rise in political advertising due to the election cycle. Operating income rose to $641 million from $322 million, while net income surged to $467 million compared to $44 million previously. Adjusted EBITDA increased by 37% to $617 million. Looking ahead, Sinclair is optimistic about 2021 with new agreements in sports betting and content distribution, alongside a revamped streaming app for regional sports networks.
Sinclair Broadcast Group and Bally's Corporation announced the launch of the new Bally Sports logo, replacing the existing FOX Sports branding for Sinclair's regional sports networks (RSNs). The rebranding aims to create a cohesive partnership and enhance the viewer experience. The transition includes new geographic names for specific RSNs and the discontinuation of some part-time channels to streamline offerings. The partnership, announced in November 2020, plans to revolutionize U.S. sports betting and gamification content, integrating Bally's unique offerings with Sinclair's live coverage.
Sinclair Broadcast Group (NASDAQ: SBGI) announced the appointment of Jeffrey Lewis as Chief Compliance Officer, a new role aimed at strengthening corporate compliance functions. Lewis will oversee areas such as regulatory adherence, code of conduct, and privacy, reporting directly to President and CEO Chris Ripley. His extensive experience includes senior compliance roles at AT&T and legal expertise from the SEC. Lewis aims to enhance existing compliance practices amid increased regulatory scrutiny. Sinclair's diverse media operations include 188 television stations and multiple regional sports networks.
Sinclair Broadcast Group (Nasdaq: SBGI) will announce its fourth quarter 2020 earnings results on February 24, 2021, at 7:30 a.m. ET. A conference call to discuss these results will follow at 9:00 a.m. ET. Interested participants can access the call via webcast at www.sbgi.net or by dialing 877-407-8033. Media members may attend in a listen-only mode. A replay of the call will be available exclusively on the company's website after the event.
Sinclair Broadcast Group (NASDAQ: SBGI) is set to launch its original news program, The National Desk, on January 18, 2021. Airing weekday mornings, it will be available on 68 Sinclair stations, including MY and CW channels, as well as on STIRR and Sinclair's news websites. Hosted by Jan Jeffcoat, the program aims to provide commentary-free news coverage, focusing on local stories that resonate nationally. Sinclair's goal is to connect local narratives with broader national conversations, enhancing public access to timely and accurate news.
Sinclair-owned WXLV-TV, the ABC affiliate for Winston-Salem, Greensboro, and High Point, will launch local newscasts on January 18. The new programming aims to provide educational and timely news, airing weekdays at 6:00 p.m. and 11:00 p.m. in partnership with ABC News. News Director Jake Peterson emphasizes the need for informative content that engages the Triad community, while General Manager Allison Aldridge highlights their commitment to advocacy and audience interaction. Chief Meteorologist Jonathan Weant will lead the weather department, bringing local expertise to the forecasts.
Sinclair Broadcast Group (Nasdaq: SBGI) has appointed Billy Robbins as Vice President & General Manager of WBFF in Baltimore, Maryland. With 17 years of experience at Sinclair, Robbins aims to strengthen the station's leadership in local news and programming, including popular shows like Jeopardy! and Wheel of Fortune. His previous roles include General Sales Manager and Station Manager. Sinclair operates numerous television stations and regional sports networks, enhancing its position as a leading provider of local news and sports content.
COLUMBUS, Ohio, Jan. 7, 2021 /PRNewswire/ -- Four leading local TV stations in Columbus, WSYX, WCMH-TV, WWHO, and WTTE, launched NEXTGEN TV, an advanced digital broadcast technology. This upgrade facilitates features like 4K video, immersive audio, personalized tools, and advanced emergency alerts. Powered by ATSC 3.0, it aims to integrate with 5G and broadband services. The launch, coordinated by BitPath, ensures ongoing accessibility for all viewers. Rescan instructions for antenna users can be found at fcc.gov/rescan.
Sinclair Broadcast Group (Nasdaq: SBGI) announced several promotions within its leadership on December 29, 2020. Key promotions include Paul Nesterovsky to SVP of Tax and Ethan Haire to VP of Associate General Counsel, among others. This restructuring aims to enhance operational efficiency and leadership capability across various departments such as Corporate Development and Marketing. Sinclair remains a major player in local news and sports, operating numerous television stations and regional sports networks nationwide.
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