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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.
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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 | 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 | 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 | 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 Michael Dresser and Michael Dresser,Sun Staff Writer | August 5, 1995
Bolstered by healthy advertising revenue and successful acquisitions, Sinclair Broadcast Group more than doubled its profits and almost doubled its revenues over the second quarter of last year.The Baltimore-based owner and operator of local television stations reported yesterday that its net income for the quarter that ended June 30 rose to $3 million, or 9 cents a share, up from $1.3 million, or 5 cents a share, the previous year.Its operating cash flow, a closely watched indicator in the broadcast industry, more than doubled, from $14.2 million last year to $29.6 million.
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 Andrew Ratner and Andrew Ratner,SUN STAFF | March 2, 2001
For the second time in three days, a top executive announced his departure from Cockeysville-based Sinclair Broadcast Group Inc. Patrick Talamantes, Sinclair's chief financial officer, is leaving in two weeks to return to his native Northern California to become CFO for the McClatchy Co., a Sacramento-based newspaper chain, Sinclair announced yesterday. Talamantes two days earlier had announced the departure of Barry Drake as chief executive officer of Sinclair's television division. David Smith, chief executive officer, described the back-to-back resignations as a "huge set of coincidences."
BUSINESS
By Andrea F. Siegel and Andrea F. Siegel,SUN STAFF | January 13, 1998
Maryland's intermediate appellate court yesterday refused to block the switch of Channel 54 from affiliation with the United Paramount Network to Warner Brothers.The Court of Special Appeals ruling, anticipated by UPN, may not be appealed. UPN had already found a new local universe for its starship, "Star Trek: Voyager," on Channel 24.The decision also clears the way for the entry Friday of the WB Network, home of "Buffy, the Vampire Slayer," into the Baltimore market."We were confident that we would win," said Michael J. Collins, one of several attorneys for the Sinclair Broadcast Group, which operates WNUV.
BUSINESS
By Mark Ribbing and Mark Ribbing,SUN STAFF | March 23, 1998
In the battle over the future of television, Sinclair Broadcast Group Inc. is sticking to its guns.The Baltimore-based broadcaster has begun transmitting trial signals on digital television and will soon begin demonstrations of the technology.Sinclair's strategy for entering the high-stakes digital market has drawn some criticism and is being watched closely by an industry that is still unsure about just how to use the new technology."Sinclair's at the leading edge of this story," said Harry J. DeMott, an analyst for Credit Suisse First Boston in New York.
ENTERTAINMENT
By David Zurawik and The Baltimore Sun | December 19, 2013
Kai Jackson, whose departure from WJZ after more than 20 years was first reported here last month, said Thursday that he will be joining Sinclair Broadcasting as its national correspondent based in Washington, D.C. "Yes, I'm going to Sinclair," Jackson said in a telephone interview. "I'm really excited. It's a company at the forefront of the industry, and I appreciate that they think I have something to offer. " Jackson said he will start his new job with the Hunt-Valley-based broadcaster Jan. 2. "Kai will be a special correspondent covering stories in the nation's capitol for all of the Sinclair news operations," Scott Livingston, VP for news at Sinclair, said in an email response to The Sun. "He will develop stories that focus on our commitment to advocacy journalism.
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 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.
ENTERTAINMENT
By David Zurawik and The Baltimore Sun | July 29, 2013
You have to admire the financial muscle if nothing else of Baltimore's Sinclair Broadcast Group. How many companies in Baltimore can pony up just under a billion dollars and become headquarters to a high-visibility Washington media institution like WJLA-TV, the ABC affiliate in the nation's capital? That is what happened Monday with the $985 million Sinclair paid for eight Allbritton stations including WJLA (Channel 7) and the D.C. 24-hour cable news outlet NewsChannel 8. (Read the Sun's news account here .)
ENTERTAINMENT
By David Zurawik and The Baltimore Sun | November 7, 2012
The partisan media madness started early Tuesday on the "Fox & Friends" morning show with host Steve Doocy somehow turning a report on midnight voting in Dixville Notch, N.H., into an attack on President Barack Obama for his handling of the September attack on an American consulate in Benghazi, Libya. "Appalling" was the word U.S. Sen. Kelly Ayotte (R-N.H.) used to describe the president's behavior. And, with Doocy priming the pump of vitriol, she was only warming up. Meanwhile, on the other side, former Democratic National Party chair Howard Dean was on MSNBC's "Morning Joe" minutes after the polls opened in Pennsylvania, already alleging voter suppression in Philadelphia based on hearsay.
NEWS
The Baltimore Sun | August 16, 2012
Sinclair Broadcast Group announced Thursday that it has reached a retransmission agreement in principle with the Dish Network and that it has extended the existing pact by two weeks to allow the negotiation of a final contract. The agreement had been set to expire at 12:01 a.m. Thursday. Retransmission contracts set the fees that cable and satellite TV providers pay broadcast stations to include their signals in channel lineups. The agreement allows Dish, which has about 14 million customers nationwide, to carry 70 television stations that Sinclair provides service to or owns.
ENTERTAINMENT
By David Zurawik, The Baltimore Sun | January 20, 2012
It's Saturday night at Canton's Du Burns Arena, and Mike "The Prodigy" Bennett flexes and preens as his opponent, Ring of Honor champion Jay Lethal, staggers across the mat. As the bad-boy wrestler's scantily clad girlfriend-valet joins the gloating, fans erupt in an angry chant of "You suck, you suck. " Those in the front row yell the loudest - pounding the metal dividers surrounding the ring in time with the chant. Welcome to the new - and, at the same time, very old - world of TV wrestling, as the Sinclair Broadcast Group embraces the original programming business that comes with chokeholds and body slams.
BUSINESS
By Andrea K. Walker and Andrea K. Walker,SUN STAFF | May 5, 2005
Is Sinclair Broadcast Group Inc., accused by critics of behaving like a private company at times, ready to become a private entity? That seemed to be the million-dollar question during the Hunt Valley broadcast company's conference call yesterday to discuss first-quarter earnings. The company tossed cold water on the idea as quickly as it entertained it, however. Sinclair executives have long asserted that the company's stock is undervalued. Its shares rose 51 cents, or nearly 7 percent, yesterday to close at $8. The company believes its worth is closer to $12. Barton Crockett, an analyst with JPMorgan, asked hypothetically why the company doesn't revert to private status if it believes it isn't earning its worth in the public markets.
BUSINESS
By Lorraine Mirabella, The Baltimore Sun | March 11, 2012
The head of Sinclair Broadcast Group has a definite idea about television's future: It will be a mobile medium. And he doesn't need industry research to tell him so. David D. Smith, president and chief executive of the Hunt Valley-based broadcaster, recalls an experiment he conducted during a trade show: He set a portable TV down in a bar and then watched as people gathered around, asking where they could get one. "People who say they won't...
ENTERTAINMENT
By David Zurawik, The Baltimore Sun | January 20, 2012
It's Saturday night at Canton's Du Burns Arena, and Mike "The Prodigy" Bennett flexes and preens as his opponent, Ring of Honor champion Jay Lethal, staggers across the mat. As the bad-boy wrestler's scantily clad girlfriend-valet joins the gloating, fans erupt in an angry chant of "You suck, you suck. " Those in the front row yell the loudest - pounding the metal dividers surrounding the ring in time with the chant. Welcome to the new - and, at the same time, very old - world of TV wrestling, as the Sinclair Broadcast Group embraces the original programming business that comes with chokeholds and body slams.
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