Sinclair Stock Price, News & Analysis

Sinclair Broadcast Group (Nasdaq: SBGI) has announced promotions for several key executives. Del Parks is elevated to President of Technology, while Mike Kralec becomes SVP, Chief Technology Officer. Jason Smith takes the lead in New Media Enterprises as Head, and Skip Flenniken is named VP, GM of Technology Business Development. In addition, Kevin Cotlove becomes COO of Social, with Amit Mathur named Chief Digital Officer, and Don Roberts rises to SVP, TV Sports Engineering and Production Systems. The changes are part of Sinclair's strategy to evolve and innovate in the media industry.

Diamond Sports Group, LLC, a subsidiary of Sinclair Broadcast Group (NASDAQ: SBGI), has completed transactions expected to enhance liquidity by approximately $1.0 billion over five years. The funding includes a $635 million first lien term loan, improving its balance sheet for long-term growth. CEO Chris Ripley emphasized that this liquidity will support a direct-to-consumer platform and recent digital rights renewals with NHL and NBA, aimed at broadening audience engagement and additional revenue opportunities for Diamond.

Sinclair Broadcast Group (SBGI) announced significant participation in its Exchange Offer, where nearly $3.036 billion of senior secured notes were validly tendered. This represents 99.5% of the outstanding notes not held by the company. The proposal includes amending the existing notes' indenture to allow for new financing arrangements and eliminate restrictive covenants. The Exchange Offer aims to exchange existing senior notes due in 2026 for new second lien secured notes. Holders have until March 14, 2022, to participate in the offer.

Sinclair Broadcast Group, Inc. (NASDAQ: SBGI) has declared a quarterly cash dividend of $0.25 per share, marking a 25% increase from previous distributions. This dividend is payable on March 21, 2022, to shareholders recorded by March 7, 2022. The company operates in diversified media, owning and managing 185 TV stations across 86 markets and several national sports networks like Tennis Channel and Stadium, delivering content through various platforms including digital and streaming.

Sinclair Broadcast Group (Nasdaq: SBGI) reported its Q4 and FY 2021 financial results, showing a 2% decrease in total revenues to $1.476 billion for Q4, primarily impacted by a cyber incident resulting in a projected $24 million net loss. The company raised its quarterly dividend by 25% and ended the year with a $1.4 billion investment portfolio. The adjusted EBITDA for Q4 fell 62% to $234 million, while the total net loss attributable to Sinclair was $89 million. However, core advertising revenues improved by 4%, and expanded agreements with NBA and NHL enhance future prospects.

Sinclair Broadcast Group (Nasdaq: SBGI) has appointed Rob Weisbord as Chief Operating Officer and President of Broadcast. With over 40 years in the industry, Weisbord will oversee the company's operations across its television stations, regional sports networks, and digital platforms, expanding Sinclair's multi-platform content strategy. Celebrated for his leadership since joining Sinclair in 1997, Weisbord previously served as Chief Advertising Revenue Officer. Sinclair operates 185 television stations and several national networks, making it a key player in local news and sports.

Sinclair Broadcast Group (NASDAQ: SBGI) has appointed Todd Bernstein as the Station Manager of WJLA-ABC7 and WJLA-24/7 in Washington, DC. Bernstein, who has over 25 years of experience and has been with WJLA since 2005, was previously the Director of Sales. In his new role, he will oversee sales as well as programming like Government Matters and Good Morning Washington. William Fanshawe, Senior VP and General Manager, praised Bernstein's contributions and leadership capabilities. Sinclair operates 185 television stations and provides various media services across multiple platforms.

Sinclair Broadcast Group announces its next News Reporter Academy virtual session on March 30, aimed at college students interested in news reporting. This interactive workshop will cover essential skills such as news reporting basics, investigative storytelling, social media management, and creating a professional resume. The session is open for 150 students, with registration required by March 25. Sinclair's ongoing commitment to education follows the success of its Producer Academy, enhancing career prospects for future journalists.