Sinclair Broadcast Group says it agreed to settle three derivative lawsuits that were brought by investors in connection with Sinclair’s efforts to gain regulatory approval for the acquisition of Tribune Media. Sinclair was unable to get approval for the $3.9 billion deal and Tribune was acquired by Nexstar Media.
The broadcast group tells analysts it expects third quarter broadcasting revenues to be up 6%-10% pro forma to $777 million-$805 million.
Distribution and political revenue push that total up 75%, while the company’s total revenue climbs 66% to $1.3 billion.
Sinclair has repeatedly defended the independence and objectivity of the local news reporting that is carried on its many stations. But its nationally distributed news and commentary programs, produced in Washington has stayed largely faithful to President Trump’s pronouncements about the virus. Above, Sinclair TV hosts Sharyl Attkisson and Eric Bolling.
Station groups say they will send fewer correspondents to August’s largely virtualized political conventions and centralize their reporting resources. At the same time, they see local coverage opportunities of the conventions expanding, largely down to use of the remote production technology they’ve already been mastering for months during the pandemic.
Sinclair Broadcast Group will not air a report prepared for Eric Bolling’s America This Week that blames Dr. Anthony Fauci, the nation’s top infectious diseases expert, for creating the COVID-19 pandemic. In a tweet late Monday, Sinclair said that given the nature of Judy Mikovits’ claims to Bolling, the segment was “not appropriate” to air, adding: “We also reiterate our appreciation for all that Dr. Fauci and his team have accomplished for the health and wellbeing of Americans and people worldwide.”
Sinclair Broadcast Group has reversed course and has “decided to delay” a scheduled episode of America This Week with Eric Bolling reporting a discredited conspiracy theory that Dr. Anthony Fauci was responsible for creating the coronavirus. It said in a tweet: “We will spend the coming days bringing together other viewpoints and provide additional context. All stations have been notified not to air this and will instead be re-airing last week’s episode in its place.”
Around 10 markets should be on-air with 3.0 broadcasts by the end of the third quarter and perhaps 20 by year’s end, according to representatives of Pearl TV and BitPath. Broadcasters are also exploring the full capabilities of the NextGen standard with several new initiatives this summer, including the launch of a NextGen-capable smartphone and a trial of advanced alerting capabilities in Washington, D.C. Above, one of the six 2020 LG OLED sets that have earned the NextGen TV logo from the Consumer Technology Association.
With the Major League Baseball season about to belatedly begin, analyst Steven Cahall of Wells Fargo calculates that regional sports networks will cost Sinclair Broadcast Group $130 million in cash when the baseball, hockey and basketball seasons end.
TVNewsCheck will consider how news organizations are turning remote production outposts into permanent at-home studios, while Sinclair will present episode two of a series on monetizing NextGen TV. SMPTE has two events this week, MFM continues a series of for-credit sessions for finance managers and SVG presents its annual Sports Content Management conference in virtual form. For more events, plus dates, times and registration links, visit TVNewsCheck’s Virtual Events Directory.
Leading executives in the spot TV advertising ecosystem will talk about ways to entice a larger number of marketers to invest in local TV during a TVNewsCheck webinar on Aug. 6. The event, which will focus on short- and long-term issues facing the industry, will feature (top, l-r): Frank Friedman, E.W. Scripps; Jane Meyerson, ICON International; Joe Cerone, Zenith; (bottom, l-r): Rob Weisbord, Sinclair Broadcast Group; Mark Gorman, Matrix Solutions and Ted Kramer, ProvantageX. Register here.
Sinclair’s sharing system fosters a culture of collaboration. Every station group shares content in some fashion, but Sinclair has made it a priority and built an elaborate system to get the job done.
Media and entertainment veteran Steve Rosenberg will lead the company’s RSNs, Stadium and high school sports divisions. He succeeds the retiring Jeff Krolik.
The station group reups eight of its CBS affils plus another to which it provides services.
A deep bench of business, advertising, transportation, computing, media and technology experts from a variety of industries will be participating and taking questions in this six-episode, bi-weekly series beginning Tuesday, July 7, 2 to 3:30 p.m. ET.
In the initial phase, it will air weekday mornings from 6 to 9 across Sinclair’s CW and MNT affiliates, as well as on STIRR, Sinclair’s free, over-the-top streaming platform. It’s hiring to fill 25 new positions to staff the new initiative.
One Media, which is owned by Sinclair Broadcast Group, said the FCC should adopt the “modest” modifications to its plan for deployment of the ATSC 3.0 advanced broadcast transmission standard, but should also look to be a little less modest, including recognizing the value of distributed transmission to localism. That came in comments on the FCC’s recent rulemaking.
“Most local TV news marketing doesn’t drive viewership.” That’s a startling statement from Marv Danielski, who directs news promotion for Sinclair Broadcast Group’s stations. But in this Market Share Executive Interview, he reveals what he has found does work in 30 years in the trenches.
Sinclair Broadcast Group said its shareholders elected the nominated nine directors at the company’s annual shareholders’ meeting on June 4. The elected directors are David D. Smith, executive chairman, chairman of the board of the company; Frederick G. Smith, director and vice president of the company; J. Duncan Smith, director, vice president and secretary of […]
Krolik, 63, managed the RSNs for nearly 15 years, and led the group during the sale from Fox to Disney and the subsequent sale from Disney to Sinclair.
Powered by ATSC 3.0, Sinclair’s KSNV (NBC) and KVCW (CW), Nexstar’s KLAS (CBS) and Scripps’ KTNV (ABC) are now broadcasting with the new NextGen TV technology.
Democratic FCC Commissioners Geoffrey Starks and Jessica Rosenworcel condemn the $48 million settlement, saying the agency’s Republican majority ignored the FCC’s own rules and bent the facts to assist Sinclair “with sweeping its past digressions under the rug.”
Sinclair Broadcast Group announced today that its in-person annual stockholders meeting, scheduled for June 4, will also be webcast on its website, www.sbgi.net. The announcement said: “In accordance with an Executive Order issued by Maryland Gov. Larry Hogan, only 10 persons are permitted to physically attend the company’s annual meeting of stockholders, inclusive of members […]
FCC watchers have been itching to get a look at the consent decree between Sinclair and the FCC resolving multiple investigations, but will have to wait a few days more, according to an FCC spokesperson, who said the FCC is waiting for commissioners to finish their statements before releasing it.
Sinclair Broadcast Group shares were up more than 10% in early trading Monday after reports that its Chicago-area regional sports network was close to a carriage deal with Comcast. Comcast, the largest cable operator in the Chicago region had been slow to reach a carriage agreement with Sinclair’s Marquee Sports Network, the RSN it jointly owns with the Chicago Cubs. But reports over the weekend that the two may be close to a deal helped goose the stock.
Sinclair Broadcast Group will pay more than 1,000 of its eligible freelance sports broadcast technicians $2,500 each in the second phase of its assistance program. A company spokesman said Friday that the payment will total more than $3 million as a response to the COVID-19 pandemic. The payment is coming nearly two months after Sinclair offered the technicians an interest-free advance of $2,500 to the network freelancers who work at its Fox regional sports networks and Marquee Sports Network.
The FCC consent decree is largest ever paid by a broadcaster and stems from its negotiations to buy Tribune. “Sinclair’s conduct during its attempt to merge with Tribune was completely unacceptable,” said FCC Chairman Ajit Pai. “Today’s penalty, along with the failure of the Sinclair-Tribune transaction, should serve as a cautionary tale to other licensees seeking commission approval of a transaction in the future.”
Analysts are assured that small- and medium-size businesses will return to television advertising as the economy reopens. Meanwhile, Sinclair’s sales reps are using this pause to demonstrate what services those businesses may be able to use to aid in reopening. In addition, auto dealers will now need to move their 2020 model inventory off their lots.
Distribution and digital revenue push that total up 134%, while the company’s total revenue climbs 123% to $1.6 billion.
Sinclair says KVCW, the company’s CW affiliate in Las Vegas, will begin broadcasting in ATSC 3.0 on May 26, marking the company’s first commercial deployment of the NextGen TV standard. KVCW was originally scheduled to launch 3.0 broadcasts just prior to the NAB Show in April, but the launch was delayed due to the coronavirus pandemic, which also resulted in the cancellation of the annual event.
Sinclair Broadcast Group has appointed Tige Jones station manager of its CBS affiliate KHQA Quincy, Ill. (DMA 174). In addition, Rick Lipps, currently general manager of Sinclair’s Champaign/Springfield/Decatur, Ill., properties, will now expand his territory to oversee the Quincy, market. In making the announcement, Rob Weisbord, Sinclair president of local news and marketing services, said: […]
The data being sourced locally by Nexstar, Sinclair and Quincy Media journalists supports more accurate and timely community-focused reporting.
The 4-8-minute television segments will be aired live on Baltimore’s Fox affiliate WBFF and will be shared as potential news and digital content for use by 73 Sinclair television station newsrooms across the U.S.
The union representing sports broadcast technicians is launching ads on cable TV as it ratchets up a fight with regional sports network owner Sinclair.
Sinclair’s streaming STIRR service added a coronavirus channel last month, stitching together daily press conferences on the pandemic from around the country. That content will evolve as the pandemic continues, STIRR’s GM says.
More than 15,000 people have signed a petition from the International Alliance of Theatrical Stage Employees asking Sinclair Broadcast Group to improve its recent offer to unemployed broadcast technicians. The petition was circulated after IATSE criticized Sinclair’s plan to loan money in response to the coronavirus pandemic through a multi-million-dollar emergency fund that offers an interest-free advance of $2,500 to the 1,000 sports network freelancers who work at its Fox regional sports networks and Marquee Sports Network.
The station group moves him from GM of its Flint, Mich., properties to oversee its ABC-Univision duopoly in Washington state.
Sinclair Broadcast Group announced “significant changes” to the content of three, company-owned multicast networks: Comet, Charge! and TBD. The channels, which are available to the vast majority of households across the U.S., will now carry some of the most popular classic television series, as well as TBD’s first-ever original series, The Link. The new programming […]