Sinclair, Inc. reports news across its diversified media business, including local television stations affiliated with major broadcast networks, Tennis Channel, multicast networks CHARGE, Comet, ROAR and The Nest, and AMP Media digital content and podcasts. Company updates commonly address advertising revenue, distribution revenue, political advertising cycles, live sports programming, station operations and portfolio actions involving media or broadcast-technology assets.
Recurring Sinclair announcements also include quarterly financial results, cash dividends on its Class A and Class B common stock, debt and liquidity actions, investor conference participation, and community initiatives under the Sinclair Cares brand.
Sinclair Broadcast Group (Nasdaq: SBGI) has announced the promotion of Courtney Youngblood to Vice President & General Manager of WLOS (ABC) in Asheville, North Carolina. Youngblood, who has been with Sinclair for over 20 years, will also oversee WMYA (MyNet affiliate). President Rob Weisbord highlighted her extensive experience in television sales and familiarity with the Asheville market as key qualifications. Youngblood expressed enthusiasm for her expanded role at WLOS, emphasizing the station's commitment to excellence in serving the community.
Sinclair Broadcast Group (Nasdaq: SBGI) has achieved remarkable recognition with 18 of its newsrooms receiving the prestigious RTDNA Regional Edward R. Murrow Award, totaling 37 awards. Noteworthy stations include WJLA with 6 awards and KOMO with 4. WEAR, WJAR, and WSTM received the Overall Excellence Award, while other stations excelled in areas such as Investigative journalism. CEO Chris Ripley emphasized the significance of these awards in highlighting community issues. Sinclair continues to commit to local news and investigative efforts, underlining its role in strengthening community relations.
Sinclair Broadcast Group (Nasdaq: SBGI) has declared a quarterly cash dividend of $0.20 per share on its Class A and Class B common stock. This dividend is set to be paid on June 15, 2021, to shareholders of record as of the close of business on June 1, 2021.
Sinclair continues to be a major player in the media sector, with ownership and operation of 21 regional sports networks and 186 television stations across 87 markets. Its diverse media offerings include local news and national networks, delivered through various platforms.
Sinclair Broadcast Group (SBGI) reported a 6% revenue decline to $1.511 billion for Q1 2021. The operating income plummeted to $35 million from $327 million in Q1 2020, mainly due to $32 million in non-recurring costs. A net loss of $12 million was recorded, contrasting with a $123 million income in the previous year. Adjusted EBITDA fell 35% to $182 million. Despite challenges, CEO Chris Ripley noted a recovery in the advertising market and optimism for continued growth, aided by the recent Bally Sports rebranding and the launch of the Bally Sports App.
Sinclair Broadcast Group (Nasdaq: SBGI) is expanding its original news program, The National Desk, to evening hours starting September 27, 2021. This program will air from 10 p.m.-12 a.m. EDT and 7 p.m.-9 p.m. PDT across 68 stations and Sinclair's digital platforms. Since its launch in January 2021, the program has been well-received for providing local and national news without commentary. Mike Garber will lead the evening content, and a new website and app will be introduced for better access to news. Sinclair aims to continue delivering valuable and immediate news coverage.
Sinclair Broadcast Group (Nasdaq: SBGI) announced significant achievements at the Cynopsis Sports Media Awards, receiving nine awards, including "RSN of the Year" for Bally Sports. Bally Sports Florida led with seven awards, encompassing notable recognitions for local sports programming. Additionally, Tennis Channel's Ken Solomon was honored as a "Hall of Fame Luminary" for innovation in tennis broadcasting. Sinclair's High School Sports Division was acknowledged for its creative programming during the pandemic. These awards highlight Sinclair's commitment to sports broadcasting and audience engagement.
Sinclair Broadcast Group (Nasdaq: SBGI) will announce its first quarter 2021 earnings on May 5, 2021, at 7:30 a.m. ET, followed by a conference call at 9:00 a.m. ET. Investors can join the call via a live webcast available at www.sbgi.net under 'Investors/Webcasts.' The call's dial-in number is 877-407-8033, and participants are advised to connect two minutes early. A replay will be accessible on the company's website. Media representatives can listen but must be in listen-only mode. Further company information is also found on its website.
Sinclair Broadcast Group (Nasdaq: SBGI) has expanded its Board of Directors from nine to eleven members, welcoming Laurie R. Beyer as its first female director. Her appointment, following the unanimous recommendation of independent board members, aims to enhance governance and diversify the board’s experience. Currently the CFO of Greater Baltimore Medical Center, Beyer brings extensive financial expertise. She will stand for re-election at the next annual shareholder meeting. The board also plans to fill an additional vacancy with a suitable candidate in the future.
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Sinclair Broadcast Group (NASDAQ: SBGI) announced that its professional wrestling promotion, Ring of Honor (ROH), will celebrate its 500th episode on April 15, airing from 6 p.m. to 9 p.m. ET. The event features ten classic matches and two new marquee matches chosen by fans. Notable matches include Jay Briscoe vs. Matt Hardy and The Young Bucks vs. reDRagon. Additionally, an Episode 500 watch party will take place for HonorClub members. This milestone showcases Sinclair's commitment to ROH and highlights the show's popularity since its premiere in 2011.