In what would be the latest in a series of transactions, Sinclair Broadcast Group will add several more stations to its rapidly expanding station portfolio, according to industry sources. No word on yet on price.
NAB’s Smith: Ubiquity Is Key To Success
The association’s CEO says broadcasting must be available to all people at all times in all places and on all devices. For all that’s going on at NAB 2012, click here.
David Smith, Sinclair: Turnaround Champs
A mere two-and-a-half years after facing the possibility of massive loan defaults, Smith has guided his group of 68 stations into financial security and positioned it to capitalize on the improving economy. Sinclair has whittled down debt and corresponding leverage ratios significantly, all while steadily upgrading station technology and striking deals that expand its scope and scale. It’s bought 15 stations since last September and is ready to buy more if the deals are right.
Sinclair’s Smith Not Worried About Auctions
CEO David Smith says: “There’s a fundamental disagreement between the Democrats and Republicans” over spectrum auction legislation and he sees no action likely in three-to-five years. He and other execs at the company say this year is shaping up to be a record on-year for political revenues at Sinclair and they have great expectations for the role super PACs will play.
David Smith, president and CEO of Mission Broadcasting, died of a massive heart attack over the weekend. Mission owns 16 stations — based mostly in smaller markets in Pennsylvania, Missouri, and Texas — but they are operated by Nexstar Broadcasting as part of duopolies.
