Sinclair Names Scott Shapiro Executive Vice President, Corporate Development and Strategy

Rhea-AI Summary

Sinclair Broadcast Group, Inc. (Nasdaq: SBGI) appointed Scott Shapiro as Executive Vice President of Corporate Development and Strategy. Shapiro, previously serving as Senior Vice President and Chief Development Officer, will manage strategic investments and acquisitions. President & CEO Chris Ripley emphasized Shapiro's critical role in Sinclair's transformation into a diversified media company, highlighting successful acquisitions like Bally Sports. Shapiro has been with Sinclair since 2011 and has significantly contributed to launching various networks and channels.

Positive

• Appointment of Scott Shapiro as Executive Vice President to drive strategic investments.
• Successful acquisition of Bally Sports, enhancing Sinclair's market position.
• Shapiro's extensive experience in corporate development supports future growth.

Negative

• None.

BALTIMORE--(BUSINESS WIRE)-- Sinclair Broadcast Group, Inc. (Nasdaq: SBGI) today announced Scott Shapiro has been elevated to Executive Vice President, Corporate Development and Strategy. In the role, Shapiro will be responsible for managing and executing large strategic investments and acquisitions and formulating and facilitating organic opportunities. He will continue to report into Chris Ripley, President & CEO of Sinclair. Previously, Shapiro served as Sinclair’s Senior Vice President, Chief Development Officer, and CFO/COO of Diamond Sports Group.

In making the announcement, Ripley said, “Scott is an integral part of the future of our business and the transformation of Sinclair into a diversified media company. We thank Scott for helping to acquire Bally Sports and stepping in to serve as Diamond Sports Group’s CFO/COO through its transition to an independent company. We are thrilled he will now return his entire focus to Sinclair, and we look forward to his leadership as we continue to drive growth and innovation across the company.”

Shapiro commented, “I am incredibly fortunate to work for such a dynamic and forward-looking company; we have acquired television stations, the Tennis Channel and ad tech companies, launched multiple networks, and deployed capital across a variety of industries to get smarter about what the future could look like for Sinclair. We have a tremendous platform to build upon and a dedicated team that comes in every day with the mindset to accomplish big things.”

Shapiro joined Sinclair in 2011 and after fulfilling various roles in finance, launched the Corporate Development team in 2015 where he was promoted to Vice President in 2016, Senior Vice President in 2019, and named Senior Vice President, Chief Development Officer in 2020. In addition to his corporate development role, he has spent the last several years on innovative initiatives such as the launch of multicast channels Comet, CHARGE!, TBD and Stadium, as well as the creation and launch of Marquee Sports Network and the Bally Sports+ direct-to-consumer platform.

He previously worked in Institutional Equity Research at Morgan Stanley and Prudential Equity Group. Shapiro additionally has an audit and tax background, working for both KPMG LLP and PricewaterhouseCoopers LLP. He holds a Bachelor of Arts degree in History from the University of Rochester and a Master of Business Administration from the University of Virginia’s Darden School of Business.

About Sinclair Broadcast Group, Inc.

Sinclair Broadcast Group, Inc. 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; owns multiple national networks including Tennis Channel and Stadium; has TV stations affiliated with all the major broadcast networks and owns and/or operates 21 regional sports network brands. Sinclair’s content is delivered via multiple platforms, including over-the-air, multi-channel video program distributors, and digital and streaming platforms NewsON and STIRR. The Company regularly uses its website as a key source of Company information which can be accessed at www.sbgi.net.

Category: General

View source version on businesswire.com: https://www.businesswire.com/news/home/20221208005560/en/

Media:

Jessica Bellucci

Jbellucci-c@sbgtv.com

Investor Relations:

Steven Zenker, VP, Investor Relations

Billie-Jo McIntire, AVP, Investor Relations

(410) 568-1500

Source: Sinclair Broadcast Group, Inc.

FAQ

Who is Scott Shapiro in relation to Sinclair Broadcast Group?

Scott Shapiro has been appointed as Executive Vice President of Corporate Development and Strategy at Sinclair Broadcast Group.

What is Sinclair Broadcast Group's stock symbol?

The stock symbol for Sinclair Broadcast Group is SBGI.

What are Scott Shapiro's responsibilities at Sinclair?

Scott Shapiro will manage strategic investments and acquisitions as well as organic growth opportunities.

What major acquisition did Sinclair Broadcast Group achieve recently?

Sinclair Broadcast Group successfully acquired Bally Sports.

What role did Chris Ripley play in Scott Shapiro's appointment?

Chris Ripley, President & CEO of Sinclair, announced Scott Shapiro's appointment, highlighting his integral role in the company's future.