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 completed the acquisition of two Class A television stations, WIAV-CD and WDCO-CD, for $8.5 million. Located in the Washington, DC area, these stations will help showcase NEXTGEN TV technologies. Sinclair aims to utilize one of the stations for advanced 'Broadcast Internet' services under the ATSC 3.0 standard. The acquisition is aligned with Sinclair's broader strategy to integrate NEXTGEN TV across various markets, enhancing the viewing experience and adding innovative features.
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On Oct. 8, 2020, five major television stations in Oklahoma City launched NEXTGEN TV, based on ATSC 3.0 technology, marking a significant broadcast upgrade. Stations include KOCO-TV (ABC), KFOR-TV (NBC), KOKH-TV (Fox), KOCB (CW), and KAUT (IND). The technology features immersive 4K video, mobile broadcasting, and enhanced emergency alerts. Nexstar Media and Sinclair Broadcast Group emphasize the rollout’s efficiency, aimed at providing better viewing experiences and new services for advertisers. This launch is part of a broader trend towards innovative broadcasting in the digital age.
Sinclair Broadcast Group (Nasdaq: SBGI) will announce its third quarter 2020 earnings on November 4, 2020, at 7:30 a.m. ET. This will be followed by a conference call at 9:00 a.m. ET to discuss the results. Interested parties can access the call via www.sbgi.net or by dialing 877-407-8033. A replay will be available on the company's website post-call. Members of the media are invited to listen, and key executives will be available for questions afterward.
On October 6, 2020, four major television stations in Austin, TX, including KXAN-TV, KEYE-TV, KNVA, and KBVO-CD, launched NEXTGEN TV, a groundbreaking broadcast technology. This upgrade, based on ATSC 3.0 standards, supports features such as immersive audio, 4K video, and mobile broadcasting. The initiative aims to enhance viewer experiences and integrate with future 5G services. The planning was spearheaded by BitPath, highlighting a commitment to improving technology in the local broadcasting landscape. This development signifies a pivotal step in television broadcasting.
Sinclair Broadcast Group (NASDAQ: SBGI) has appointed Darrell Davis as Vice President of Enterprise Business Transformation. In this role, he will implement a comprehensive business transformation program aimed at enhancing profitability and operational efficiency across Sinclair's functions. Davis, a seasoned professional with over 35 years of experience, previously led process improvement initiatives that resulted in over $300M in savings. He will report to Brian Bark, Chief Information Officer of Sinclair.
Sinclair Broadcast Group (NASDAQ: SBGI) announced the hiring of award-winning anchor Jan Jeffcoat as the main anchor for its upcoming headline news service, set to launch in early 2021. Jeffcoat, with over 19 years of experience in television, will lead a dynamic news reporting initiative focused on timely journalism. Alongside Cayle Thompson, also joining as a live desk anchor, the service will air on weekday mornings and aim to deliver critical news coverage. Sinclair's extensive local broadcasting network will support this new initiative, enhancing viewer access to breaking news.
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Sinclair Broadcast Group (Nasdaq: SBGI) announced that starting tomorrow, YouTube TV will stop carrying its regional sports networks (RSNs) due to an inability to reach a distribution agreement. This includes several FOX RSNs, meaning subscribers will lose access to prior recordings. Despite this setback, Sinclair is continuing discussions with YouTube TV to restore these networks. Barry Faber, Sinclair's President of Distribution & Network Relations, expressed disappointment but emphasized the commitment to keep the public informed about ongoing negotiations.
On September 25, 2020, Sinclair Broadcast Group (NASDAQ: SBGI) announced that its indirect subsidiary, Diamond Sports Finance SPV, LLC, has secured a $250 million accounts receivable securitization facility. This three-year facility allows Diamond Sports Group to obtain low-cost funding by selling receivables, which it can then borrow against from third-party financial institutions. Credit Suisse AG is the administrative agent, while Guggenheim Securities LLC acted as the financial advisor for the transaction.