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. (SBGI) is a leading force in broadcast media and sports programming, operating one of America's largest television station groups. This news hub provides investors and industry observers with direct access to official corporate announcements and verified media coverage.
Our curated collection serves as a reliable resource for tracking financial results, strategic partnerships, regulatory updates, and leadership developments. You'll find timely updates on earnings reports, content distribution agreements, technology investments, and market expansion initiatives that shape Sinclair's position in the evolving media landscape.
All content is sourced from verified corporate communications and reputable financial publications. For stakeholders monitoring broadcast industry trends or evaluating SBGI's competitive strategy, this page offers organized access to both recent developments and historical context.
Bookmark this page for streamlined tracking of Sinclair's operational milestones and regulatory filings. Check back regularly for updates on how America's largest television station operator navigates digital transformation and content distribution challenges.
Sinclair (Nasdaq: SBGI) reported its Q3 2024 financial results, showing a 20% increase in total revenues to $917 million compared to the prior year. Media revenues also rose by 20% to $908 million. Total advertising revenues surged by 42% to $433 million, with core advertising revenues growing by 1% year-over-year to $295 million. Political advertising revenues reached $138 million, a 31% increase over 2020. Distribution revenues rose by 5% to $434 million.
The company achieved an adjusted EBITDA of $249 million, up 72% from the previous year. Operating income increased to $179 million from $37 million, while net income attributable to Sinclair was $94 million, reversing a net loss of $46 million in the prior year. Diluted EPS was $1.43, up from a loss of $0.74 per share.
For the first nine months of 2024, total revenues increased by 10% to $2.544 billion, with adjusted EBITDA up 45% to $546 million. The company expects full-year adjusted EBITDA to increase by 54% to 56% year-over-year.
Tennis Channel is launching a direct-to-consumer streaming service on November 12, combining its 24-hour network with extensive live and on-demand content. The service will be available nationwide for $109.99 annually or $9.99 monthly through the Tennis Channel app and website. The platform will offer over 10,000 hours of tennis content, including live matches from over 100 tournaments, replays, highlights, and exclusive commentary. Current subscribers will receive the flagship channel at no extra charge, while cable and satellite customers will get authenticated access to enhanced content. The service covers ATP, WTA, Davis Cup, Billie Jean King Cup, United Cup, and Laver Cup events.
NewsON, a leading local news streaming service, has launched its free app on VIZIO TVs. The ad-supported platform provides access to over 285 trusted TV stations across 135+ markets, covering 90% of the U.S. The service includes live newscasts, on-demand content, and 190+ local stations offering FAST channels. Features include weather forecasts, breaking news, and trending stories through What'sON. The expansion aims to enhance local news accessibility, particularly during critical events like elections and severe weather.
Sinclair is expanding its podcast division with the launch of 'Unfiltered Soccer with Landon Donovan and Tim Howard' on November 12. The show features U.S. soccer legends sharing insights, analysis, and stories about MLS, English Premier League, Champions League, and international competitions. The multi-platform program will be available on Apple Podcasts, Spotify, YouTube, and other platforms, with content distributed across various social media channels. This launch follows the success of Sinclair's existing podcasts 'The Triple Option' and 'Throwbacks', with new episodes releasing every Tuesday.
Sinclair subsidiary ONE Media Technologies has appointed Matthew Goldman as Vice President of Strategic and Technical Initiatives. In this new role, Goldman will lead advanced operational technologies implementation, including High Dynamic Range Video (HDR) and ATSC 3.0 NextGen Broadcasting initiatives. Goldman, who joined Sinclair in 2021, brings over 30 years of digital television systems experience, including significant contributions to MPEG-2 Systems standards and ATSC protocols. He holds multiple Technology & Engineering Emmy® Awards and will report to Mark Aitken, SVP of Advanced Technology at Sinclair and President of ONE Media Technologies.
Sinclair has announced that Lucy Rutishauser, the company's EVP and CFO, has been appointed to the Business Advisory Council of ATSC, the broadcast Standards Association. As a council member, Rutishauser will provide strategic insights to connect business and technology sectors, expanding ATSC standards across industries and regions.
ATSC 3.0, also known as NextGen TV in the US and DTV+ in Brazil, is designed to enhance over-the-air TV with improved video quality, interactive features, and internet integration. It offers benefits such as:
- Enhanced public safety through advanced emergency alert systems
- Broadcast Positioning System as a complement to GPS
- Improved viewer experience with 4K, HDR, and immersive audio
- New revenue opportunities for broadcasters, including targeted advertising
Rutishauser expressed excitement about joining the council during this transformative period for the broadcast industry, highlighting ATSC 3.0's potential across various sectors.
WBFF/FOX 45 Baltimore has announced the launch of 'Spotlight on Maryland', a new investigative journalism unit aimed at exposing inefficiencies in state, county, and local governments. This initiative expands on the station's existing investigative reporting, covering topics such as allocation of taxpayer funds to non-profits, campaign finance practices, corruption, and government inefficiency across Maryland.
The station is expanding its staff to include additional investigative reporters and researchers for this unit. This new project builds upon the success of WBFF's Project Baltimore, which has received numerous awards for its investigative reporting on Baltimore area public school systems since 2017.
Scott Livingston, Senior Vice President of News for Sinclair, emphasized the importance of providing viewers with information to check government power and hold elected leaders accountable. The station aims to continue its legacy of community advocacy through unique reporting on under-examined issues and promoting public engagement on governmental abuses.
Sinclair Broadcast Group and Nebraska Public Media have launched the first free Broadcast-Enabled Streaming TV (BEST) Channel in Omaha, Nebraska. This innovative service allows Nebraska Public Media's PBS and local programming to be hosted on Sinclair's KPTM FOX 42 station as a free, virtual channel using NEXTGEN broadcast technology (ATSC 3.0).
BEST channels transmit programming directly over-the-air to smart TVs using the host broadcaster's NEXTGEN broadcast data channel capacity. Viewers with NEXTGEN TVs can easily access these channels through their programming guide. This launch is part of a broader agreement between Sinclair and America's Public Television Stations (APTS) to provide free carriage of APTS member stations in markets where Sinclair has deployed ATSC 3.0 and a public television station has not.
Sinclair, Inc. (Nasdaq: SBGI) has announced it will report its third quarter 2024 earnings results on Wednesday, November 6, 2024, at 4:00 p.m. ET. This will be followed by a conference call at 4:30 p.m. ET to discuss the results. The call will be webcast live and can be accessed at www.sbgi.net under 'Investor Relations/Events and Presentations'. For those participating via phone, the dial-in number is 888-506-0062 with entry code 791357.
A replay of the call will be available on Sinclair's website, which will be the only venue for replay access. The company's press release and any non-GAAP reconciliations will also be available on the website. News media are welcome to join the call in listen-only mode, with key executives available for questions afterwards, time permitting.
Sinclair has announced the return of its News Academy, offering free virtual workshops for college students interested in journalism careers. The 90-minute sessions will cover reporting, producing, and weather and will run from November 19-21, 2023. The Reporter Academy, now in its fourth year, will focus on reporting basics and investigative storytelling across multiple platforms. The Producer Academy, in its seventh year, caters to students interested in digital or broadcast news producing. The Weather Academy, introduced last year, returns for its second annual session.
These interactive workshops provide students with insights into Sinclair's modern content centers and the opportunity to engage with industry-leading teams. Sessions will cover topics such as what to expect in the first year of work, how to excel in various roles, and how to prepare resumes and reels. The academies are open to both undergraduate and graduate students, who must register by November 18 using a .edu email address.
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