Sinclair Stock Price, News & Analysis

Sinclair Broadcast Group (Nasdaq: SBGI) has endorsed the Avanci Broadcast Licensing Platform aimed at ATSC 3.0 technologies, which simplifies the licensing of mobile broadcast technology across millions of devices. This initiative is expected to streamline the process for consumer equipment manufacturers, facilitating the deployment of next-generation broadcast services. ATSC 3.0 offers enhancements like improved audio/video quality, robust mobile reception, better spectrum efficiency, and personalized services. The platform sets uniform royalty rates for patents, aiding manufacturers in adopting advanced broadcasting technology.

Sinclair Broadcast Group (Nasdaq: SBGI) has appointed Logan Argo as the new VP/General Manager of KVII in Amarillo, TX and KVIH in Clovis, NM. Previously the Director of Sales since 2018, Argo aims to drive growth through effective sales marketing and community engagement. COO Rob Weisbord emphasized Argo's proven success in generating revenue. Argo expressed enthusiasm about leading the team and continuing to enhance the station's local news offerings. Sinclair operates 185 television stations and various media networks, ensuring a strong presence in the local broadcasting sector.

Sinclair Broadcast Group's multicast networks, including Comet, CHARGE!, and TBD, are seeing significant ratings growth in 2023. Averaging over 2.6 million viewers daily with just 7% audience duplication, the networks reported a 30% increase in prime time viewership year-over-year, while average cable networks declined by 23%. Notable increases include 54% for CHARGE!, 5% for Comet, and 50% for TBD. The launch of new series like Without a Trace and Stargate SG-1 contributed to these gains. Sinclair aims to expand its local broadcast affiliates and continues to thrive in the OTA sector.

Sinclair Broadcast Group (Nasdaq: SBGI) has declared a quarterly cash dividend of $0.25 per share for its Class A and Class B common stock. This dividend will be payable on March 17, 2023, to shareholders on record as of the close of business on March 3, 2023. Sinclair is a leading diversified media company, operating 185 television stations across 86 markets and owning multiple sports networks. The company's content is available through various platforms, including a significant streaming aggregator of local news, NewsON.

Sinclair Broadcast Group (Nasdaq: SBGI) reported financial results for Q4 and FY 2022, highlighting significant changes due to the deconsolidation of its local sports segment as of March 1, 2022. Q4 total revenues fell 35% to $960 million, while media revenues decreased 35% to $952 million. However, excluding the local sports segment, revenues increased 18% and media revenues rose 19% year-over-year. Significant achievements included record advertising revenue growth of 58% in Q4 and a net income of $55 million compared to a loss of $89 million a year ago. For FY 2023, Sinclair expects total revenues between $768 million and $787 million for Q1.

Sinclair Broadcast Group (NASDAQ: SBGI) recently appointed Susan Connor as VP/General Manager of KMPH (FOX) and KFRE (CW) in Fresno/Visalia, CA. Connor, previously VP/GM at KTVL (CBS) in Medford, OR, is recognized for her successful track record in growing media stations. Her leadership at KTVL since 2019 has been noted as particularly impactful. Rob Weisbord, COO and President of Broadcast, expressed enthusiasm for her transition to the new role, emphasizing Connor's skills and community engagement. Sinclair operates 185 TV stations across 86 markets, providing local news and sports.

Sinclair Broadcast Group continues to expand its multicast television networks, adding new broadcast affiliates that will increase nationwide coverage by 2.4 million TV households by Q2 2023. This brings the total new coverage since 2022 to nearly 17 million households. Key partnerships with Nexstar, Gray, and Entravision include major DMAs such as San Francisco, Phoenix, and San Diego. The networks COMET, CHARGE!, and TBD are gaining traction, capitalizing on the decreasing popularity of cable TV. With this growth, Sinclair aims to strengthen its position in the broadcast market.