Sinclair Stock Price, News & Analysis

Sinclair has announced the retirement of Dave Howitt, Senior Vice President of Programming, effective March 31, following a career of over 48 years in television, including more than 30 years with the company. Howitt has been instrumental in managing syndicated programming acquisition and scheduling across 43 markets and 90 stations.

Prior to joining Sinclair in 1994, Howitt worked in promotion and programming management at WUAB in Cleveland and WTTV in Indianapolis, gaining experience with companies including United Artists, Gaylord, Cannell, and River City. Following Howitt's departure, the company has promoted Linda Greenwald and Matthew Diehlmann to Directors of Programming.

Sinclair Television Group (SBGI) has announced amendments to its previously announced private exchange offer and consent solicitation through Supplement No. 1. The exchange offer allows eligible holders to swap their existing 4.125% Senior Secured Notes due 2030 for new 4.375% Second-Out First Lien Secured Notes due 2032.

The supplement modifies certain terms of the asset sale covenant and the definition of 'Permitted Liens' applicable to the Exchange Second-Out Notes. The exchange offer is exclusively available to qualified institutional buyers under Rule 144A and non-U.S. persons under Regulation S. J.P. Morgan Securities serves as the sole Dealer Manager for the transaction.

The completion of the exchange offer and consent solicitation remains subject to certain conditions, including the Transactions Condition. The Exchange Second-Out Notes will not be registered under the Securities Act and can only be offered to eligible holders through a private placement.

Sinclair Television Group, a subsidiary of Sinclair Inc. (NASDAQ: SBGI), has priced a private offering of $1.43 billion First-Out First Lien Secured Notes due 2033. The notes are priced at 100% of face value with an 8.125% annual interest rate, payable semi-annually starting August 15, 2025.

The offering is expected to close on February 12, 2025, subject to customary conditions and the completion of other financing transactions under a previously disclosed Transaction Support Agreement. The proceeds will be used to repay $1.175 billion in term loans B-2 under the existing credit agreement, purchase notes from certain Transaction Support Agreement parties, and cover related fees.

The notes will be offered exclusively to qualified institutional buyers and non-U.S. persons, as they are not registered under the Securities Act.

Sinclair (Nasdaq: SBGI) announced that its subsidiary, Sinclair Television Group, plans to offer $1,430 million in First-Out First Lien Secured Notes due 2033 through a private placement. The proceeds will be used to repay $1,175 million of existing term loans B-2, purchase notes from certain Transaction Support Agreement parties, and cover related fees and expenses.

The 2033 Notes will only be offered to qualified institutional buyers under Rule 144A and non-U.S. persons under Regulation S, as they will not be registered under the Securities Act. This offering is subject to market conditions and other factors, and is part of broader financing transactions outlined in a previously disclosed Transaction Support Agreement.

Sinclair Television Group (STG) has launched a private exchange offer for its 4.125% Senior Secured Notes due 2030, offering new 4.375% Second-Out First Lien Secured Notes due 2032. The exchange offer is accompanied by a consent solicitation to modify the existing indenture terms.

Holders who tender their notes before the Early Tender Time (February 7, 2025) will receive $1,000 in new notes per $1,000 of existing notes, while those tendering after will receive $990 in new notes. The exchange offer expires on March 7, 2025.

The company has already secured support from holders representing the required two-thirds majority consent. The new notes will be guaranteed by Sinclair Broadcast Group and its subsidiaries, with interest payable semi-annually at 4.375%. The offer is to qualified institutional buyers and non-U.S. persons under specific regulatory conditions.

Sinclair (NASDAQ: SBGI) has released preliminary unaudited Q4 2024 Local Media segment results, showing revenues slightly below previous guidance. The company expects media revenues of $931-933 million, compared to earlier guidance of $936-945 million.

Key revenue components include:

• Political advertising: $203 million (vs. $204 million guided)
• Core advertising: $300-301 million (vs. $307-315 million guided)
• Distribution revenue: $392-393 million (vs. $386-388 million guided)
• Other media revenue: $37 million (vs. $38 million guided)

Media programming, production, and selling expenses are expected to be $580-582 million, better than the previous guidance of $589-590 million. Full Q4 2024 earnings will be reported on February 26, 2025.

Sinclair (NASDAQ: SBGI) has announced it will release its fourth quarter 2024 earnings results on Wednesday, February 26, 2025, at 4:00 p.m. ET. The company will host a conference call to discuss the results at 4:30 p.m. ET on the same day.

Investors can access the live webcast through Sinclair's website at www.sbgi.net under the Investor Relations/Events and Presentations section. For those participating via phone, the dial-in number is 888-506-0062 with entry code 787591. Participants are advised to call at least two minutes before the start time.

A replay of the call will be exclusively available on Sinclair's website. The company will also make its press release and non-GAAP reconciliations available online. News media representatives are welcome to join the call in listen-only mode, with key executives available for questions afterward, time permitting.

Sinclair Inc., a leading local news and sports media company, has announced multiple executive promotions across its corporate divisions. The promotions span various departments including Corporate Finance, Human Resources, Distribution, Agency Solutions, Advanced Advertising, and Technical Operations.

Key appointments include Billie-Jo McIntire as VP of Corporate Finance, Melissa Medina Yim as VP of Human Resources, and Patrick Baldwin as AVP of Distribution. Within Sinclair Television Group, notable promotions include Antonia DeFeo to SVP of Agency Solutions, JW Linkenauger to SVP of Advanced Advertising Support Operations, and Deidre O'Grady to SVP of Pricing, Planning & Business Operations.

Additional promotions were made in Tennis Channel and Dielectric divisions, with David Monks becoming VP of Research and Strategy, and Kim Savage advancing to VP of Sales and Marketing, respectively.

PBS Reno and Sinclair Broadcast Group (NASDAQ: SBGI) have launched KNPB-VC, a new virtual ATSC 3.0 channel broadcasting on virtual channel 5-11. The channel offers enhanced viewing features including Advanced HDR by Technicolor and mirrors PBS Reno's main channel 5-1 programming.

The NEXTGEN TV technology combines over-the-air broadcasting with internet capabilities, delivering higher-quality video, immersive audio, improved accessibility through closed captions, and interactive program guides. Viewers with NEXTGEN-enabled televisions can access the channel through their programming guide, though they may need to rescan their TVs to access KNPB-VC.

This launch represents the third implementation of Sinclair's agreement with America's Public Television Stations (APTS) to provide free carriage of APTS member stations in markets where Sinclair has deployed NEXTGEN Broadcast Service.