PARAMOUNT GLOBAL AND SINCLAIR, INC. ANNOUNCE CBS TELEVISION NETWORK AFFILIATION AGREEMENTS

Rhea-AI Summary

Paramount and Sinclair have announced multi-year distribution agreements across all 21 CBS network affiliations for Sinclair stations. The agreements cover 23 markets and reach over 10 million television households.

Positive

• Paramount and Sinclair have secured comprehensive distribution agreements for Sinclair stations, covering all 21 CBS network affiliations. This will ensure a wide reach to over 10 million television households across 23 markets.

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• None.

Multi-Year Deals Span 23 CBS Affiliates Serving Over Ten Million Television Households and Includes Several Early Renewals

NEW YORK and BALTIMORE, Oct. 27, 2023 /PRNewswire/ -- Paramount (NASDAQ: PARA; PARAA) and Sinclair, Inc. (NASDAQ: SBGI) ("Sinclair"), today announced comprehensive, multi-year distribution agreements across all 21 CBS network affiliations for Sinclair stations, including six top-50 market affiliates, KUTV in Salt Lake City, UT, KEYE in Austin, TX, WKRC in Cincinnati, OH, WPEC in West Palm Beach, FL, WWMT in Grand Rapids, MI and WHP in Harrisburg, PA. Additionally, Paramount reached an agreement to renew the affiliation of WTVH in Syracuse, NY and WGFL in Gainesville, FL, stations to which Sinclair provides services. 

Sinclair is one of the largest operators of CBS affiliates, and the 23 markets combined reach 8% of the U.S. audience serving over 10 million television households. Sinclair's CBS affiliates will remain locally available to subscribers of Paramount+ with Showtime and will continue to be widely distributed across traditional MVPD and vMVPD platforms.

The agreement consists of renewals for the following CBS affiliates: WRGB in Albany, NY; KEYE in Austin, TX; KBAK in Bakersfield, CA; KFDM in Beaumont, TX; KBOI in Boise, ID; KGAN in Cedar Rapids, IA; WKRC in Cincinnati, OH; KRCG in Columbia, MO; KDBC in El Paso, TX; KVAL in Eugene, OR; WGFL in Gainesville, FL; WWMT in Grand Rapids, MI; WHP in Harrisburg, PA; KTVL in Medford, OR; KTVO in Ottumwa, IA; WGME in Portland, ME; KHQA in Quincy, IL; KUTV in Salt Lake City, UT; KPTH in Sioux City, IA; WSBT in South Bend, IN; WTVH in Syracuse, NY; WPEC in West Palm Beach, FL; and KIMA in Yakima, WA.

About Paramount

Paramount (NASDAQ: PARA; PARAA) is a leading global media, streaming and entertainment company that creates premium content and experiences for audiences worldwide. Driven by iconic consumer brands, its portfolio includes CBS, Showtime Networks, Paramount Pictures, Nickelodeon, MTV, Comedy Central, BET, Paramount+ and Pluto TV. The company holds one of the industry's most extensive libraries of TV and film titles. In addition to offering innovative streaming services and digital video products, Paramount provides powerful capabilities in production, distribution and advertising solutions.

For more information about Paramount, please visit www.paramount.com and follow @ParamountCo on social platforms.

PARA-IR

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; owns Tennis Channel and multicast networks Comet, CHARGE!, TBD and The Nest; and owns and provides services to 21 regional sports network brands. 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. 

 

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SOURCE Paramount Global

What is the scope of the distribution agreements?

The distribution agreements cover all 21 CBS network affiliations for Sinclair stations, reaching over 10 million television households across 23 markets.

Which markets are included in the agreements?

The agreements cover several top-50 market affiliates, including KUTV in Salt Lake City, UT, KEYE in Austin, TX, WKRC in Cincinnati, OH, WPEC in West Palm Beach, FL, WWMT in Grand Rapids, MI, and WHP in Harrisburg, PA.

What is the significance of these agreements for Sinclair?

These agreements solidify Sinclair's position as one of the largest operators of CBS affiliates, ensuring a wide distribution of its content across traditional MVPD and vMVPD platforms.

How will the agreements impact Paramount+ subscribers?

Sinclair's CBS affiliates will remain locally available to subscribers of Paramount+ with Showtime, allowing them to continue accessing the content.

What is the financial impact of these agreements?

The financial details of the agreements have not been disclosed in the press release.