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 will be paid on December 15, 2020, to shareholders on record as of December 1, 2020. Sinclair operates 23 regional sports networks and 190 television stations, making it a significant player in local news and sports broadcasting across the U.S.
Sinclair Broadcast Group (Nasdaq: SBGI) reported a 37% increase in Q3 2020 revenues to $1,539 million, largely due to its acquisition of 21 Regional Sports Networks and heightened political advertising. However, it faced a significant operating loss of $4,178 million, driven by a $4,226 million impairment in its Local Sports segment. Excluding adjustments, net income was $161 million, with Consolidated Adjusted EBITDA rising 97% to $736 million. The company looks forward to growth initiatives, including a new sports app and expansion of NEXTGEN TV.
Sinclair Broadcast Group (NASDAQ: SBGI) has appointed John Zeigler as the new Chief Marketing Officer. In this newly established role, Zeigler will spearhead brand marketing strategies for Sinclair's affiliate stations and 21 Regional Sports Networks. Zeigler has a rich background in broadcasting, previously serving as Vice President at the YES Network, where he created an in-house marketing agency. With over 28 Emmy awards, he aims to enhance Sinclair's brand presence and engage audiences nationwide.
Sinclair Broadcast Group (NASDAQ: SBGI) announced that Lucy Rutishauser, its CFO, has been recognized by The Baltimore Sun as one of its 2020 Women to Watch. This accolade highlights her leadership and contributions to the industry, particularly during the COVID-19 pandemic. The award celebrates 25 impactful women in various sectors in the Baltimore region. Chris Ripley, Sinclair's CEO, lauded Rutishauser's role in steering the company towards becoming a Fortune 500 firm. Rutishauser has previously received numerous accolades, including Cynopsis' Top Women in Media for 2020.
Sinclair Broadcast Group (NASDAQ: SBGI) has appointed David Morgan as Vice President of Digital Sports News for its 21 regional sports networks (RSNs). Morgan will manage editorial operations and develop news content strategies while building a national editorial team. His past experience includes leading sports news operations at USA Today Sports Media Group and Yahoo! Sports, and he spent 20 years at the Los Angeles Times. Sinclair aims to enhance digital audience growth and sports coverage across its extensive RSN portfolio.
Sinclair Broadcast Group (NASDAQ: SBGI) announced that its executives, including President and CEO Chris Ripley, will participate in the virtual NAB Show 2020 New York from October 19 to October 29, 2020. The panel discussions will cover various topics such as the future of broadcast and technology’s impact on streaming. Key sessions include Ripley’s participation in "Leadership in a Time of Accelerating Change" on October 21 and "What's Next for Next Gen TV" on October 22. Other executives will address revenue opportunities and content strategies throughout the event.
Sinclair Broadcast Group (NASDAQ: SBGI) will air an exclusive town hall with President Donald Trump on October 21, 2020, at 8:00 p.m. The event, moderated by Eric Bolling, will be broadcast across 55 markets on Sinclair-owned CW and MYNET stations, and also available via Sinclair station websites. The town hall aims to address key issues for the upcoming election, as Trump responds to questions from both Bolling and the audience. Sinclair has also invited Joe Biden's campaign for a similar discussion.
Sinclair Broadcast Group (Nasdaq: SBGI) has completed the acquisition of two Class A television stations, WIAV-CD and WDCO-CD, for $8.5 million. Located in the Washington, DC area, these stations will help showcase NEXTGEN TV technologies. Sinclair aims to utilize one of the stations for advanced 'Broadcast Internet' services under the ATSC 3.0 standard. The acquisition is aligned with Sinclair's broader strategy to integrate NEXTGEN TV across various markets, enhancing the viewing experience and adding innovative features.
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