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's STIRR has enhanced its content on STIRR City channels by introducing locally-produced news specials. Beginning July 1 and 8, Baltimore audiences will see the documentary Baltimore is Dying and the town hall special Your Voice, Your Future Town Hall: City in Crisis. STIRR City Baltimore features over 10 hours of daily news and aims to provide regionally relevant content. The service, boasting over 7 million downloads, offers 100+ free channels including significant local programming.
Sinclair Broadcast Group (Nasdaq: SBGI) announced the launch of local news operations at its FOX 29 WUTV in Buffalo, NY, starting July 1, 2021. The station will air nightly newscasts at 10 p.m., providing comprehensive local news coverage alongside reports from Sinclair's network of stations. The launch includes a digital platform, 'Buffalo Plus,' focused on Buffalo Bills and Sabres coverage. The team will be led by experienced journalists, including News Director Kelly Holland, emphasizing Sinclair's commitment to local journalism and timely reporting.
Sinclair Broadcast Group (Nasdaq: SBGI) held its Annual Shareholders' Meeting, where shareholders elected ten Directors, including Executive Chairman David D. Smith. The meeting also ratified PricewaterhouseCoopers as the independent accounting firm for fiscal year 2021 and approved amendments to the Employee Stock Purchase Plan and the Long-Term Incentive Plan to increase share issuance. A detailed vote tabulation will be submitted in a Current Report on Form 8-K.
Sinclair Broadcast Group (Nasdaq: SBGI) has launched the "Sinclair Cares: Roll Up Your Sleeves" campaign in collaboration with the American Red Cross. This initiative, which began on World Blood Donor Day and runs until July 23, aims to bolster U.S. blood supplies through donations, volunteer work, and financial contributions. The campaign highlights the ongoing blood shortage exacerbated by the COVID-19 pandemic and emphasizes the critical need for donations. In 2020, the campaign successfully collected around 2,000 units of blood, and this year aims to increase participation via Sinclair's extensive media platforms.
Sinclair Broadcast Group (Nasdaq: SBGI) has announced its annual stockholders meeting, set for June 28th, to be webcast at www.sbgi.net starting at 10 a.m. ET. Certain Board members and senior management will attend virtually, encouraging stockholders to do the same. Participants cannot vote or revoke proxies during the webcast but are urged to cast votes using methods outlined in proxy materials. Sinclair operates 185 TV stations and 21 regional sports networks, providing extensive local news and sports content across multiple platforms.
Sinclair Broadcast Group (Nasdaq: SBGI) has achieved a significant milestone by being included in the prestigious Fortune 500 list for the first time, ranking 465. This recognition underscores the company's remarkable growth from a local broadcaster to a diversified media and technology leader. With a robust portfolio including 185 local television stations and 19 Bally Sports networks, Sinclair continues to innovate in local sports broadcasting. CEO Chris Ripley emphasized the importance of their dedicated employees in reaching this achievement.
Sinclair Broadcast Group (Nasdaq: SBGI) announced the upcoming retirement of Barry Faber, President of Distribution and Network Relations, effective June 25, 2021. Faber, who has been with the Company for 25 years, played a crucial role in its growth and transformation within the broadcasting industry, overseeing significant acquisitions and advocating for compensation from pay-TV providers. Post-retirement, he will serve as a consultant for Sinclair. The Company will announce a successor later this year.
Sinclair Broadcast Group (Nasdaq: SBGI) announced that its stations WBFF in Baltimore and WKRC in Cincinnati received four National Headliner Awards for investigative journalism impacting local communities. WBFF's Project Baltimore earned three honors, including two first-place awards for its series 'Shredding' and the documentary 'Registered & Enrolled', alongside a second-place award for public service. WKRC secured second place in health reporting for 'Spotlight on America: Chamber of Hope'. Additionally, Sinclair received 37 Regional Edward R. Murrow Awards for journalistic excellence, reinforcing its commitment to impactful news coverage.
Sinclair Broadcast Group (Nasdaq: SBGI) has announced the promotion of Courtney Youngblood to Vice President & General Manager of WLOS (ABC) in Asheville, North Carolina. Youngblood, who has been with Sinclair for over 20 years, will also oversee WMYA (MyNet affiliate). President Rob Weisbord highlighted her extensive experience in television sales and familiarity with the Asheville market as key qualifications. Youngblood expressed enthusiasm for her expanded role at WLOS, emphasizing the station's commitment to excellence in serving the community.
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