Sinclair Elects Board and Ratifies Independent Auditor

Rhea-AI Summary

Sinclair (Nasdaq: SBGI) announced the election of nine Directors at its Annual Stockholders' Meeting, including David D. Smith as Executive Chairman. Stockholders ratified PricewaterhouseCoopers LLP as the independent auditor for the 2024 fiscal year and approved an advisory vote on executive compensation. Sinclair, a diversified media company, operates 185 television stations in 86 markets and owns the Tennis Channel and several multicast networks. The vote results will be reported on Form 8-K filed with the SEC.

Positive

• Nine Directors elected including experienced leaders like David D. Smith, Frederick G. Smith, and Dr. Ben Carson.
• Stockholders ratified PricewaterhouseCoopers LLP as independent auditor, ensuring continued financial oversight.
• Approval of the advisory vote on executive compensation enhances corporate governance.
• Sinclair operates 185 television stations in 86 markets, showing extensive reach and influence in the media industry.
• Sinclair owns notable media assets such as Tennis Channel and several multicast networks, diversifying its content portfolio.

Negative

• Advisory vote on executive compensation is non-binding, indicating enforceability regarding compensation practices.
• No new financial performance metrics or revenue updates were provided, leaving investors without recent financial insights.
• Potential for shareholder dissent or dissatisfaction not addressed in the announcement, leading to possible future conflicts.

Board Votes to Hold Annual Advisory Vote on Executive Compensation

BALTIMORE--(BUSINESS WIRE)-- Sinclair, Inc. (the “Company”) (Nasdaq: SBGI) announced that its stockholders elected the nominated nine Directors at the Company’s Annual Stockholders’ Meeting held yesterday. The elected Directors are Mr. David D. Smith, Executive Chairman, Chairman of the Board of the Company; Mr. Frederick G. Smith, Director and Vice President of the Company; Mr. J. Duncan Smith, Director, Vice President and Secretary of the Company; Mr. Robert E. Smith, Director; Ms. Laurie R. Beyer, Director; Dr. Benjamin S. Carson, Sr., Director; Mr. Howard E. Friedman, Director; Mr. Daniel C. Keith, Director; and Hon. Benson E. Legg, Director.

The stockholders also ratified the appointment of PricewaterhouseCoopers LLP as the Company’s independent registered public accounting firm for the fiscal year ending December 31, 2024, and approved the non-binding advisory vote on executive compensation.

A tabulation of the votes on these matters will be included in a Current Report on Form 8-K to be filed with the Securities and Exchange Commission.

About Sinclair, Inc.

Sinclair, Inc. (Nasdaq: SBGI) is a diversified media company and a leading provider of local news and sports. The Company owns, operates and/or provides services to 185 television stations in 86 markets affiliated with all the major broadcast networks; and owns Tennis Channel and multicast networks Comet, CHARGE!, TBD., and The Nest. Sinclair’s content is delivered via multiple platforms, including over-the-air, multi-channel video program distributors, and the nation’s largest streaming aggregator of local news content, NewsON. The Company regularly uses its website as a key source of Company information which can be accessed at www.sbgi.net.

Category: Financial

View source version on businesswire.com: https://www.businesswire.com/news/home/20240612153892/en/

Chris King, VP, Investor Relations

Billie-Jo McIntire, AVP, Investor Relations

(410) 568-1500

Source: Sinclair, Inc.

FAQ

What recent changes occurred in Sinclair's Board of Directors?

Sinclair elected nine Directors at its Annual Stockholders' Meeting, including David D. Smith as Executive Chairman.

Who is Sinclair's independent auditor for the fiscal year ending December 31, 2024?

PricewaterhouseCoopers LLP was ratified as Sinclair's independent auditor for the fiscal year ending December 31, 2024.

What was approved during Sinclair's Annual Stockholders' Meeting?

Stockholders approved the election of Directors, ratified PricewaterhouseCoopers LLP as auditor, and approved an advisory vote on executive compensation.

How many television stations does Sinclair operate?

Sinclair operates 185 television stations in 86 markets.

What media assets does Sinclair own?

Sinclair owns the Tennis Channel and several multicast networks including Comet, CHARGE!, TBD., and The Nest.