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NEWS
By Jenn Topper and S. Derek Turner | November 6, 2013
So far this year, 223 local TV stations have changed hands. This is the biggest wave of media consolidation ever - and it's all happening in small and mid-level markets, involving companies most people have never heard of. Leading this wave is Hunt Valley-based Sinclair Broadcast Group. Sinclair alone is behind seven deals this year, including a $985-million deal to buy nine stations from Allbritton Communications. But it's not alone; other media companies are also racing to gobble up stations.
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BUSINESS
By Lorraine Mirabella, The Baltimore Sun | August 6, 2014
Sinclair Broadcast Group Inc. turned in a better-than-expected second quarter Wednesday, thanks to strong advertising sales and lower expenses to operate its television stations. The Hunt Valley broadcaster said it earned $41.3 million, or 42 cents per share, in the three months ended June 30, compared with $17.8 million, or 19 cents per share, a year earleir. Wall Street analysts had expected earnings of 37 cents per share. Shares of Sinclair closed up 49 cents each at $32.30 share Wednesday.
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BUSINESS
By Lorraine Mirabella, The Baltimore Sun | March 20, 2014
Sinclair Broadcast Group Inc. offered to restructure its nearly $1 billion planned acquisition of seven ABC affiliates and a Washington-based cable news network, changes it says will satisfy cross-ownership concerns recently raised by the Federal Communications Commission. The Hunt Valley broadcaster also announced Thursday that its board of directors approved spending $150 million more to repurchase shares. In a letter Thursday to the FCC, Sinclair proposed eliminating "shared service agreements," at TV stations in three of the markets where it plans to buy an ABC affiliate from Allbritton Communications.
BUSINESS
By Lorraine Mirabella, The Baltimore Sun | June 23, 2014
Sinclair Broadcast Group Inc. plans to sell two television stations to help the company move ahead with a $1 billion planned purchase of seven ABC affiliates and a Washington-based cable news network. Selling the stations for a combined $97.4 million will allow Sinclair to comply with updated broadcast ownership rules as it aims to win regulatory approval on the purchase from Allbritton Communications by July 27. Sinclair said Monday it expects that deal to close in the third quarter.
BUSINESS
By Lorraine Mirabella, The Baltimore Sun | June 23, 2014
Sinclair Broadcast Group Inc. plans to sell two television stations to help the company move ahead with a $1 billion planned purchase of seven ABC affiliates and a Washington-based cable news network. Selling the stations for a combined $97.4 million will allow Sinclair to comply with updated broadcast ownership rules as it aims to win regulatory approval on the purchase from Allbritton Communications by July 27. Sinclair said Monday it expects that deal to close in the third quarter.
BUSINESS
By Lorraine Mirabella, The Baltimore Sun | May 7, 2014
Sinclair Broadcast Group boosted profit and revenue in the first quarter, citing better-than-expected spending on political advertising, strong gains from Super Bowl and Olympics ads, and lower expenses at many of the company's television stations. The Hunt Valley-based broadcaster reported first-quarter income of $27.2 million, or 27 cents per share, nearly 60 percent more than the $17 million, or 21 cents per share, it earned in the first three months of 2013. The results beat analysts' forecasts of 22 cents per share, yet its stock slid 2 percent Wednesday to close at $28.13 a share.
BUSINESS
By Lorraine Mirabella, The Baltimore Sun | August 6, 2014
Sinclair Broadcast Group Inc. turned in a better-than-expected second quarter Wednesday, thanks to strong advertising sales and lower expenses to operate its television stations. The Hunt Valley broadcaster said it earned $41.3 million, or 42 cents per share, in the three months ended June 30, compared with $17.8 million, or 19 cents per share, a year earleir. Wall Street analysts had expected earnings of 37 cents per share. Shares of Sinclair closed up 49 cents each at $32.30 share Wednesday.
BUSINESS
By Lorraine Mirabella, The Baltimore Sun | March 22, 2014
Sinclair Broadcast Group Inc. is one of several large broadcasters that could be forced to sell television stations or other assets or rethink future acquisitions under new media ownership rules the Federal Communications Commission is set to consider later this month. FCC Chairman Tom Wheeler proposed changes that would restrict the number of TV stations controlled by a single owner in a market, a step designed to protect competition and diversity in local media. Specifically, the FCC is examining broadcasters' use of sharing arrangements for sales as well as facilities and employees.
BUSINESS
By Lorraine Mirabella, The Baltimore Sun | August 3, 2013
Sinclair Broadcast Group's billion-dollar bet on seven ABC affiliates and a regional news network in Washington, D.C., hinges on a plan to transform that network into a national enterprise. Sinclair would use NewsChannel 8 to create a unique hybrid model for cable television news, blending national and international coverage with local news customized for each market. But the channel's success is far from certain, broadcast experts say, and depends on many unknowns, including Sinclair's ability to persuade cable operators to carry the network and the appetite of viewers and advertisers for more news.
BUSINESS
By Lorraine Mirabella, The Baltimore Sun | August 7, 2013
Sinclair Broadcast Group Inc.'s second-quarter net income fell 41 percent, to $17.8 million, or 19 cents a share, from $30.1 million, or 37 cents a share, in the same period a year earlier but beat Wall Street's expectations. Profits for the three months that ended June 30 included a $16.3 million, onetime loss from the extinguishment of debt, the Hunt Valley-based broadcaster reported. Earnings would have been 30 cents a share without the loss from paying down debt, the company said.
BUSINESS
By Lorraine Mirabella, The Baltimore Sun | May 7, 2014
Sinclair Broadcast Group boosted profit and revenue in the first quarter, citing better-than-expected spending on political advertising, strong gains from Super Bowl and Olympics ads, and lower expenses at many of the company's television stations. The Hunt Valley-based broadcaster reported first-quarter income of $27.2 million, or 27 cents per share, nearly 60 percent more than the $17 million, or 21 cents per share, it earned in the first three months of 2013. The results beat analysts' forecasts of 22 cents per share, yet its stock slid 2 percent Wednesday to close at $28.13 a share.
BUSINESS
By Lorraine Mirabella, The Baltimore Sun | March 22, 2014
Sinclair Broadcast Group Inc. is one of several large broadcasters that could be forced to sell television stations or other assets or rethink future acquisitions under new media ownership rules the Federal Communications Commission is set to consider later this month. FCC Chairman Tom Wheeler proposed changes that would restrict the number of TV stations controlled by a single owner in a market, a step designed to protect competition and diversity in local media. Specifically, the FCC is examining broadcasters' use of sharing arrangements for sales as well as facilities and employees.
BUSINESS
By Lorraine Mirabella, The Baltimore Sun | March 20, 2014
Sinclair Broadcast Group Inc. offered to restructure its nearly $1 billion planned acquisition of seven ABC affiliates and a Washington-based cable news network, changes it says will satisfy cross-ownership concerns recently raised by the Federal Communications Commission. The Hunt Valley broadcaster also announced Thursday that its board of directors approved spending $150 million more to repurchase shares. In a letter Thursday to the FCC, Sinclair proposed eliminating "shared service agreements," at TV stations in three of the markets where it plans to buy an ABC affiliate from Allbritton Communications.
NEWS
By Jenn Topper and S. Derek Turner | November 6, 2013
So far this year, 223 local TV stations have changed hands. This is the biggest wave of media consolidation ever - and it's all happening in small and mid-level markets, involving companies most people have never heard of. Leading this wave is Hunt Valley-based Sinclair Broadcast Group. Sinclair alone is behind seven deals this year, including a $985-million deal to buy nine stations from Allbritton Communications. But it's not alone; other media companies are also racing to gobble up stations.
BUSINESS
By Lorraine Mirabella, The Baltimore Sun | August 3, 2013
Sinclair Broadcast Group's billion-dollar bet on seven ABC affiliates and a regional news network in Washington, D.C., hinges on a plan to transform that network into a national enterprise. Sinclair would use NewsChannel 8 to create a unique hybrid model for cable television news, blending national and international coverage with local news customized for each market. But the channel's success is far from certain, broadcast experts say, and depends on many unknowns, including Sinclair's ability to persuade cable operators to carry the network and the appetite of viewers and advertisers for more news.
BUSINESS
By Lorraine Mirabella, The Baltimore Sun | February 12, 2014
Sinclair Broadcast Group Inc. capped a year of strong broadcast revenue growth and station acquisitions with a 33 percent jump in fourth-quarter sales but a drop in profit as the Hunt Valley company paid off debt. The broadcaster reported income of $2.3 million, or 2 cents per share, in the three months ended Dec. 31, compared with net income of $59 million, or 72 cents per share, in the final three months of 2012. Its shares slid more than 5 percent to close at $26.34 each on the Nasdaq.
BUSINESS
By Lorraine Mirabella, The Baltimore Sun | September 25, 2013
Hunt Valley-based Sinclair Broadcast Group Inc. said Wednesday that it plans to buy eight television stations from New Age Media for $90 million, continuing a string of recent station acquisitions. The stations are spread throughout three markets, Wilkes-Barre/Scranton, Pa., Tallahassee, Fla., and Gainesville, Fla., and give the broadcaster a mix of FOX, MyNetwork, CW, CBS and NBC affiliates. "We are excited to be adding the New Age stations to our portfolio, growing our presence in Pennsylvania and Florida, and further diversifying our affiliation mix," CEO David Smith said in the company's announcement.
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