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Sinclair, Inc. - SBGI STOCK NEWS

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.

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NewsON, the largest free multiplatform streaming service for local news in the US, has partnered with News Press & Gazette (NPG) to add eight new stations to its lineup. The new stations cover markets in California, Colorado, Idaho, Missouri, Oregon, and Texas. This expansion aligns with NewsON's goal of increasing the reach and impact of local news.

NewsON now offers content from 286 local TV stations, covering 91% of the US population. The service provides live and on-demand local newscasts, FAST channels, and news clips from over 23 television broadcast ownership groups. NewsON is available on various platforms, including Roku, Amazon Fire TV, Samsung, Android TV, Web, iOS, and Android mobile devices, with additional apps for Vizio and LG in development.

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Sinclair (Nasdaq: SBGI) will release its second quarter 2024 earnings results on August 7, 2024, at 4:00 p.m. ET. This will be followed by a conference call at 4:30 p.m. ET, which will be webcast live on their website under 'Investor Relations/Events and Presentations'.

Investors can join the call by dialing 888-506-0062 and using entry code 355312. A replay of the call will be available on Sinclair's website, which also hosts the press release and non-GAAP reconciliations.

News media members can join the call in a listen-only mode, with key executives available for questions if time allows.

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Sinclair has announced that its broadcasting subsidiaries, WBFF in Baltimore and WJLA in Washington DC, have been honored with 29 Capital Emmy awards by The National Capital Chesapeake Bay Chapter of The National Academy of Television Arts & Sciences. WBFF secured 17 awards, including Best Evening Newscast, while WJLA won 12 awards, with highlights such as Best Investigative News. The awards recognize exceptional journalism in Maryland, Virginia, and Washington, DC. The achievements underline the dedication of Sinclair's journalists to impactful investigative and accountability reporting.

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Jerald “Jerry” Fritz, Executive Vice President for Strategic and Legal Affairs at ONE Media Technologies, a subsidiary of Sinclair, announced his retirement effective July 1. Fritz has had a prolific 55-year career in the broadcast and communications industries. Over the past decade, he contributed significantly to ONE Media's strategic planning and the adoption of the ATSC 3.0 digital broadcast standard. Fritz's achievements were recently recognized by the North American Broadcasters Association with the International Achievement Award. Previously, Fritz held key roles at Allbritton Communications, POLITICO, and served as Chief of Staff to FCC Chairman Mark Fowler, where he played a important part in deregulating the broadcasting and telecommunications sectors. His contributions have left a lasting impact on the industry.

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Major broadcasters in the Myrtle Beach-Florence market, including WPDE-TV, WBTW, WHMC, and WWMB, launched NextGen TV, a new digital broadcast technology powered by ATSC 3.0. This upgrade delivers improved video quality, enhanced sound, and advanced emergency alerts. The launch follows a decade of research and significant planning, with BitPath coordinating efforts across the stations. Viewers can access the new service by rescanning their TV sets, while cable and satellite subscribers require no adjustments. NextGen TV is already available in over 70 cities nationwide, covering 75% of viewers.

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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.

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Chatham Asset Management, a significant creditor of Sinclair (NASDAQ: SBGI), addressed a letter to Sinclair's CEO, Christopher Ripley, and the Board of Directors concerning the company's debt maturities. Chatham, holding over $500 million in Sinclair’s debt, supports a traditional refinancing approach, such as a public or private exchange of existing debt into new junior lien bonds, instead of complex methods that could divide the company's collateral. Chatham believes this approach would lower leverage and preserve collateral, benefiting stakeholders and bolstering market confidence. They caution that complex refinancing could stress the company’s debt and equity further. Chatham remains committed to aiding Sinclair in managing its upcoming debt maturities efficiently.

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Sinclair has been awarded 22 Regional Edward R. Murrow Awards for Outstanding Journalism, recognizing 15 of its content centers. These awards, given by the Radio Television Digital News Association (RTDNA), honor excellence in categories such as Overall Excellence, Best Newscast, Breaking News, Hard News, News Series, News Documentary, Investigative Reporting, Feature Reporting, and Podcast. Scott Livingston, Sinclair's Senior Vice President of News, expressed pride in the achievements and the dedication of their staff. The awards highlight Sinclair's commitment to delivering high-quality, impactful local journalism.

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Sinclair has proudly announced that it has been awarded 16 Telly Awards, which honor excellence in video and television content globally. Sinclair's COO and President of Local Media, Rob Weisbord, emphasized the company's dedication to producing impactful and innovative content. The awards include multiple categories, with some notable winners being WKEF for media promotion, KFOX for low-budget and sports content, and Full Measure with Sharyl Attkisson for various news and feature stories. The accolades highlight Sinclair's diverse achievements in media and video journalism.

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Sinclair, Inc. (Nasdaq: SBGI) reported Q1 2024 financial results, meeting guidance on Revenue, Media Expenses, and Adjusted EBITDA. The company settled all DSG litigation claims, pre-booked $77 million in political advertising for the second half of 2024, and launched NextGen data solutions platform, Broadspan. CEO expects mid-single digit growth in net retransmission revenues and announced strategic focus on core advertising revenue growth.

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FAQ

What is Sinclair, Inc.?

Sinclair, Inc. is a major media company and the owner-operator of one of the largest portfolios of television stations in the U.S.

How many television stations does Sinclair operate?

Sinclair operates 185 full power television stations across 86 markets in the United States.

With which national broadcasters are Sinclair's channels affiliated?

Sinclair's channels are affiliated with Fox, ABC, CBS, NBC, The CW (Nexstar), and MyNetworkTV (Fox).

What sports networks does Sinclair own or have stakes in?

Sinclair owns the Tennis Channel and holds stakes in Marquee Sports Network and YES Network.

Who is a major creditor of Sinclair, Inc.?

Chatham Asset Management, LLC is one of the largest creditors of Sinclair, Inc.

What recent financial strategy has Sinclair implemented?

Sinclair is focusing on debt refinancing options, including a proposed exchange of existing debt securities into new junior lien bonds, as suggested by Chatham Asset Management.

What is the significance of Sinclair in the media industry?

Sinclair plays a pivotal role in American broadcasting with a vast network of stations, diverse content offerings, and strategic partnerships.

How does Sinclair distribute its sports content?

Sinclair distributes its sports content through pay-TV providers, leveraging its ownership and stakes in various sports networks.

Sinclair, Inc.

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