Sinclair Stock Price, News & Analysis

Sinclair has appointed Tanya Winscott as Vice President and General Manager of KMPH/FOX and KFRE/CW in Fresno, CA. The announcement was made by Rob Weisbord, Sinclair's Chief Operating Officer and President of Local Media, who highlighted Winscott's extensive experience in sales and leadership, as well as her understanding of the evolving media landscape.

Prior to this appointment, Winscott served as Director of Sales at KGTV in San Diego and held various positions including Local Sales Manager at KNXV in Phoenix and account executive roles at several Arizona stations. Winscott, who holds a Bachelor's degree in Broadcast Journalism from Arizona State University, expressed enthusiasm about engaging with the Central Valley community and delivering high-quality local news and programming.

Sinclair (Nasdaq: SBGI) has appointed Franco Gentile as Vice President and General Manager of WKRC and WSTR, the company's television stations in Cincinnati. Gentile previously served as VP/GM of KPTM and KXVO in Omaha, NE since 2021, with additional oversight of KHGI and KFXL in Lincoln-Hastings-Kearney market in 2023.

Gentile has been with Sinclair since 2004, holding various sales and leadership positions across Baltimore, Tampa, and Columbus operations. He serves on multiple boards including the Downtown Rotary of Omaha and Nebraska Broadcasters Association. Gentile holds an MBA from the University of Maryland and a BS in Business Administration from Towson University.

Sinclair operates 185 television stations across 86 markets, owns Tennis Channel, and runs several multicast networks including Comet, CHARGE!, TBD, and The Nest.

Sinclair has announced a broadcast affiliate distribution agreement with Nexstar to renew and expand clearances for its free, over-the-air multicast networks: Comet, CHARGE!, TBD, and The Nest. The deal covers over 15M U.S. households, strengthening national coverage in key markets.

CHARGE!, featuring police procedural shows, renewed agreements in Charlotte, Cleveland, New Orleans, and Indianapolis, while adding Springfield and Denver markets. Comet, focusing on sci-fi content, renewed in New Orleans, Indianapolis, Cleveland, and Harlingen. TBD, offering comedy programming, renewed in Kansas City and Sacramento. The Nest, featuring reality and true crime content, secured Chicago market coverage on WGN, achieving full power OTA coverage in top 10 DMAs.

Sinclair (SBGI) has completed a series of transactions to strengthen its balance sheet and enhance financial flexibility. The company executed multiple refinancing moves, including: a $1.43 billion private placement of First-Out First Lien Secured Notes due 2033, establishment of a $575 million first-out first lien revolving credit facility, and refinancing of approximately $1.44 billion in term loans.

The transactions extend the company's closest meaningful maturity to December 2029 and increase the weighted average maturity to 6.6 years. Additional components include an exchange offer for secured notes, private debt repurchases at discounted rates, and a private exchange offer for second lien notes. These moves are designed to reduce first lien net leverage and improve financial optionality, allowing Sinclair to pursue deleveraging opportunities while enhancing stakeholder returns.

Sinclair (Nasdaq: SBGI) announced significant progress in its private debt exchange offer and consent solicitation for Sinclair Television Group. As of February 7, 2025, approximately $267.2 million (36.24%) of outstanding Existing Notes were tendered, while holders of $463.6 million (62.87%) delivered consents without tendering notes.

The company received the required two-thirds majority consent to implement amendments to the existing indenture, which will eliminate restrictive covenants, modify events of default, and release collateral liens. Early participants will receive $1,000 in Exchange Second-Out Notes per $1,000 of Existing Notes, while later participants will receive $990. The early settlement is expected on February 12, 2025, with final settlement scheduled for March 12, 2025.

TBD TV has announced a special marathon celebrating Saturday Night Live's 50th anniversary, featuring 50 iconic episodes airing continuously from February 14-16, 2024. The marathon begins at 6 PM ET on Friday and concludes at 8 PM ET on Sunday, leading into NBC's SNL50: The Anniversary Special.

The event will showcase legendary sketches including More Cowbell, The Californians, Wayne's World, and Weekend Update, featuring performances from stars like John Belushi, Dana Carvey, Will Ferrell, Tina Fey, and Tracy Morgan. Since adding SNL to its lineup in 2024, TBD TV has experienced a 50% year-over-year increase in Prime P25-54 viewers, with January 2025 marking the network's highest Prime P25-54 month ever.

The marathon aligns with TBD TV's strategy of expanding its comedy programming, with SVP of Growth Networks Adam Ware emphasizing the network's commitment to delivering memorable entertainment experiences.

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.