Sinclair Stock Price, News & Analysis

Charleston, WV's leading television stations, including WCHS-TV, WOWK-TV, WSAZ-TV, WQCW, and WVAH-TV, launched NEXTGEN TV, a cutting-edge digital broadcast technology. Following extensive planning, this upgrade utilizes ATSC 3.0 to enhance viewer experience with improved video quality and advanced emergency alerts. As of now, NEXTGEN TV is operational in over 35 cities nationwide, promising a more interactive viewing experience by integrating Internet content. Viewers can learn more about the service and compatible devices at WatchNextGenTV.com.

Sinclair Broadcast Group's national news program, The National Desk, has launched TheNationalDesk.com, offering 24/7 breaking news coverage. Viewers can access live broadcasts, on-demand episodes, and exclusive content for free, without needing subscriptions. Anchored by award-winning journalists, TND aims to deliver impactful news from a local perspective across Sinclair's extensive network of 64 stations in 60 markets. The platform will enhance Sinclair’s existing offerings via digital and streaming services like STIRR.

Sinclair Broadcast Group (NASDAQ: SBGI) has renewed a multi-year agreement with the National Hockey League (NHL) through its subsidiary, Diamond Sports Group. The deal enhances digital and outer market distribution rights, enabling Bally Sports Regional Networks to stream live NHL games directly to consumers in the local territories of 12 NHL teams. Additional rights include post-game highlights and the use of NHL tracking data, maximizing viewer engagement and flexibility.

DISH Network Corporation and Sinclair Broadcast Group announced a multi-year carriage agreement, ensuring Sinclair's 144 local stations across 86 markets will remain available on DISH TV. The Tennis Channel will also continue to be accessible on both DISH TV and SLING TV. Brian Neylon of DISH emphasized the importance of customer focus during negotiations, while Sinclair's William Bell noted the value broadcasters place on local content delivery. This agreement aims to enhance viewing experiences for DISH subscribers.

Sinclair Broadcast Group announced a partnership with Oracle Moat to enhance media performance measurement across its 300+ digital properties. This collaboration aims to provide advertisers with improved transparency and validation of advertising campaigns. Sinclair will deploy Oracle Moat Analytics for metrics related to invalid traffic, viewability, diagnostics, and brand safety. This initiative is expected to optimize advertising performance across Sinclair's diverse digital inventory, which includes news, sports, and connected TV platforms.

Sinclair Broadcast Group (NASDAQ: SBGI) has acquired rights under its accounts receivable securitization facility for approximately $184.4 million, reflecting 101% of the loans' outstanding principal. This acquisition provides greater flexibility for Diamond Sports Group (DSG), raising the facility limit from $250 million to $400 million, eliminating certain amortization events, and extending the maturity date to September 23, 2024. CEO Chris Ripley emphasized this move as a strategic long-term investment.

Sinclair Broadcast Group has declared a quarterly cash dividend of $0.20 per share on its Class A and Class B common stock. This dividend will be payable on December 15, 2021, to shareholders on record as of December 1, 2021. As a diversified media company, Sinclair operates numerous television stations and regional sports networks and is a significant provider of local news. This announcement reflects the company's commitment to returning value to its shareholders.

Sinclair Broadcast Group (Nasdaq: SBGI) reported its Q3 2021 financial results, revealing consolidated revenue of $1,535 million, flat compared to the previous year. The operating income stood at $73 million, recovering from a loss of $4,216 million in Q3 2020, while net income reached $19 million compared to a net loss of $3,256 million last year. Adjusted EBITDA decreased 39% to $451 million. The company faced challenges from auto advertising revenue declines, but core advertising excluding autos grew 11% compared to 2020. Projections for 2022 anticipate further recovery, aided by upcoming political advertising.

Sinclair Broadcast Group has partnered with DAV to celebrate 100 years of advocacy for disabled veterans through a new documentary titled “The Battle Never Ends.” Set to air nationwide starting October 18, the hour-long film chronicles DAV’s contributions to veterans from World War I to today. Narrated by veteran Dale Dye, the documentary aims to raise awareness and support for veterans, aligning with Sinclair's “Sinclair Cares” campaign, running until November 12. The initiative encourages donations to DAV, which serves over a million veterans annually.