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Sinclair Broadcast Group

BUSINESS
By Hanah Cho and Hanah Cho,hanah.cho@baltsun.com | March 11, 2009
Sinclair Broadcast Group Inc. reported a net loss of $241.5 million last year mostly because of a huge write-down of the value of goodwill and broadcast licenses. In contrast, the Hunt Valley broadcaster had a profit of $22.7 million in 2007, according to an annual report filed with the Securities and Exchange Commission. The company, one of the largest independent television station owners in the country, took a $463.9 million impairment charge to reflect reduced forecasts for future cash flow and growth rates.
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BUSINESS
By LOS ANGELES TIMES | December 14, 2004
NEW YORK - A coalition of liberal political groups is launching a nationwide protest against Sinclair Broadcast Group, charging that the 62-station TV broadcaster in Hunt Valley, Md., is misusing public airwaves with partisan news programming. The groups, led by Media Matters for America, will announce today a campaign to pressure Sinclair's advertisers with letters. The groups, however, are stopping short of demanding an advertiser boycott. The drive is one of the first broad attempts to re-energize liberal activists after November.
BUSINESS
By Lorraine Mirabella, The Baltimore Sun | May 5, 2010
Hunt Valley-based Sinclair Broadcast Group Inc. reported a first-quarter profit Wednesday, a turnaround from a first-quarter loss in 2009, as sales of television advertising improved. Sinclair, owner or programmer of 58 TV stations including Fox 45 in Baltimore, said it earned net income of $11.5 million, or 14 cents per share, in the three months that ended March 31. The broadcaster had posted a loss of $85.7 million, or $1.06 per share, in the first three months of 2009, largely due to an after-tax, $100.
BUSINESS
January 28, 1998
Sinclair Broadcast Group Inc. said yesterday that it has agreed to sell seven radio stations in Portland, Ore., and Rochester, N.Y., to Entertainment Communications Inc. for $126.5 million in cash.The seven are part of a package of six television and 24 radio stations Sinclair has agreed to buy from Heritage Media Corp. for million.Sinclair has agreed to sell some of the Heritage stations, such as a television station in Oklahoma City, because of federal concentration-of-media regulations.
ENTERTAINMENT
By David Zurawik and The Baltimore Sun | December 22, 2011
Verizon and Sinclair Broadcast Group have reached an agreement, according to Bill Fanshawe, general manager of Baltimore's WBFF and WNUV television stations. WBFF is owned and WNUV is managed by the Hunt Valley based broadcaster. "We have settled," Fanshawe said late Thursday. "So, we are pleased to announce that we have reached an agreemnent in principle for a new deal that will provide for continued carriage of our stations on the FiOS systems after December 31st, 2011. " What that means immediately is that the crawls across the bottom of the screen warning FiOS viewers that they might not be able to see "Glee" and NFL football games after Dec. 31, are history.
BUSINESS
By Mark Ribbing and Mark Ribbing,SUN STAFF | July 3, 1999
Sinclair Broadcast Group Inc. said yesterday that it has completed its $81 million acquisition of three Midwestern television stations from Guy Gannett Communications.Baltimore-based Sinclair does not plan to keep the stations -- WICS-TV of Springfield, Ill.; WICD-TV of Champaign, Ill.; and KGAN of Cedar Rapids, Iowa -- for long.Sinclair picked up the stations as part of a wider $310 million transaction with Guy Gannett, and has said it will sell them off as part of a cost-reduction strategy.
BUSINESS
July 2, 1997
Sinclair Broadcast Group Inc. said yesterday that it has offered more than $500 million for some broadcasting stations and is negotiating other purchases.The Baltimore-based operator of radio and television stations didn't identify the companies with which it's in talks or whether the bid is for TV, radio stations or both.Sinclair has been expanding its broadcasting operations to take advantage of new limits on station ownership in the United States.Sinclair said it hasn't entered into any agreements or letters of intent for the stations.
BUSINESS
June 4, 1996
Sinclair Broadcast Group Inc. has finished the first phase of its acquisition of St. Louis' River City Broadcasting, a deal that will make it the seventh-largest broadcasting company in the nation.Baltimore-based Sinclair completed its acquisition of the "nonlicense assets" of River City on Friday. The assets include office space and television and radio equipment, said Pat Talamantes of River City, who has been named head of investor relations for Sinclair."In terms of the acquisition, this is by far the biggest piece of it," Talamantes said.
BUSINESS
February 5, 1998
Sinclair Broadcast Group Inc. of Baltimore announced yesterday that it has agreed to sell all or part of three small television stations in New England and upstate New York to STC Broadcasting Inc. for $72 million.Sinclair Chief Financial Officer David Amy said his company is selling WPTZ of Plattsburgh, N.Y., and WNNE of Hartford, Vt., and is turning over to STC the management of WFFF of Burlington, Vt.The three stations were part of a package of six television and 24 radio stations Sinclair agreed to buy from Heritage Media Group for $630 million, a deal announced in July.
BUSINESS
By Mark Ribbing and Mark Ribbing,SUN STAFF | April 8, 1999
Sinclair Broadcast Group Inc. said yesterday that it is selling three radio stations in Norfolk, Va.,to Barnstable Broadcasting Inc. for $23.7 million in cash.The Baltimore broadcasting company said it is shedding WFOG-FM and WGH-FM to comply with Federal Communications Commission rules that allow a company to have only four FM radio stations in a single market.As a result of earlier acquisitions, Sinclair found itself with six FM stations in Norfolk. The company plans to keep its other four Norfolk FM stations.
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