Sinclair reports smaller loss as ads increase

February 18, 2010

Sinclair Broadcast Group Inc. reported a smaller quarterly loss Wednesday, thanks to improved spending by automotive advertisers. The Hunt Valley-based operator of 58 television stations posted a net loss of $67.8 million in the three months that ended Dec. 31, or a loss of 85 cents per common share, compared with a fourth quarter net loss of $283.5 million, or $3.46 per share, in 2008. Net broadcast revenue fell a less-than-expected 6.4 percent, to $153.9 million for the quarter, from $164.4 million in the fourth quarter of 2009. The company had initially expected revenues to fall as much as 12.8 percent.

- Lorraine Mirabella

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