Sinclair Broadcast Group, Inc. (SBGI) - NASDAQ
  • Yesterday, 3:21 PM
    • Sinclair Broadcast Group (SBGI -1%) says it's settled some longstanding (and more recent) matters with the FCC via a consent decree.
    • Sinclair will pay $9.495M as part of the settlement, and the FCC will dismiss all pending claims against Sinclair in its Media Bureau and issue license renewals for 90 TV stations.
    • The matters in question related to content broadcast on Sinclair stations, technical issues around local marketing agreements, and rules on joint retransmission consent talks.
    • Sinclair is the nation's biggest local broadcaster, and so more likely to run afoul of restrictions on local ownership at the FCC.
    | Yesterday, 3:21 PM
  • Fri, Jul. 1, 3:33 PM
    • The FCC says it will reveal the names of bidders in the forward auction portion of the broadcast incentive spectrum auction, setting the start of the next phase likely in mid-July.
    • There are about 100 parties eligible to bid and they have a payment due by 5 p.m. today, which will validate a final list. A 15-business-day period has to follow public notice of the bidders.
    • The reverse auction concluded this week with the agency needing to raise $88B to cover $86.4B in payments to broadcasters, a sum that could mean changes to the process (including multiple rounds) as the FCC works to scare it up.
    • Spectrum players: VZ, T, TMUS, S, DISH, SBGI, EVC, CMCSA, CHTR, NXST, CBS, MEG
    | Fri, Jul. 1, 3:33 PM | 30 Comments
  • Wed, Jun. 29, 7:45 PM
    • The FCC has set the cost of the spectrum being sold in the broadcast spectrum incentive auction at a whopping $86.4B -- a sum that wireless carriers may balk at.
    • That means that the FCC might have to sell less spectrum than had been expected, or use multiple rounds to settle bidding by broadcasters.
    • The current stage is the reverse auction, where broadcasters bid low to give up their low-band airwaves to the FCC -- and participation has been strong from broadcasters who might have "significantly inflated expectations," says analyst Roger Entner. That's to be followed by a forward auction round of bidding by carriers.
    • A second round of reverse auction with the broadcasters may be needed, which could slow the entire process into 2017.
    • Spectrum players: VZ, T, TMUS, S, DISH, SBGI, EVC, CMCSA, CHTR, NXST, CBS, MEG
    | Wed, Jun. 29, 7:45 PM | 38 Comments
  • Tue, Jun. 28, 11:44 AM
    • Sinclair Broadcast Group (SBGI +2%) will likely use proceeds from the FCC's broadcast incentive auction to go shopping for firms, CTFN reports.
    • The most likely targets are TV stations it can acquire that are trading at lower multiples than Sinclair is, a source says -- a better buy than repurchasing Sinclair at its multiple (about 7.5 times 2016 EBITDA, still low compared to peers).
    • Sinclair could draw about $2B at auction and pursue acquisitions of a few hundred million dollars for station owners trading around 6-7 times EBITDA.
    • The nation's biggest local broadcaster could also get more spectrum, as it's also a buyer in the forward auction as well as a seller in the reverse auction.
    | Tue, Jun. 28, 11:44 AM | 1 Comment
  • Wed, May 4, 10:33 AM
    • Sinclair Broadcast Group (NASDAQ:SBGI) has swung 3% each way today and is currently down 1% despite Q1 earnings that were upbeat and featured a 9% hike to its quarterly dividend.
    • Net income fell 0.8% but beat expectations on a per-share basis. Operating income was up 2.1% to $86.3M.
    • Revenue breakout: Media revenues, $531.3M (up 14.3%); revenues from station barter, $26.5M (up 26.5%); other non-media, $21.1M (up 10%).
    • It's guiding to Q2 media revenues (pre-barter) rising 18.9%-19.8% to $598.3M-$603M, and barter and trade revenue of about $36M. Capex is expected to come in at $27M. For the full year, it sees an effective tax rate of 33%.
    • Press Release
    | Wed, May 4, 10:33 AM
  • Wed, May 4, 7:42 AM
    • Sinclair Broadcast (NASDAQ:SBGI) declares $0.18/share quarterly dividend, 9.1% increase from prior dividend of $0.165.
    • Forward yield 2.21%
    • Payable June 15; for shareholders of record June 1; ex-div May 27.
    | Wed, May 4, 7:42 AM
  • Wed, May 4, 7:35 AM
    • Sinclair Broadcast (NASDAQ:SBGI): Q1 EPS of $0.25 beats by $0.01.
    • Revenue of $578.89M (+14.7% Y/Y) beats by $9.46M.
    • Press Release
    | Wed, May 4, 7:35 AM
  • Tue, May 3, 5:30 PM
  • Wed, Mar. 23, 4:55 PM
    • Sinclair Broadcast Group (NASDAQ:SBGI) has closed a private offering of senior unsecured notes offered by its Sinclair Television Group subsidiary.
    • The $350M private offering, of notes due 2026, were priced at 100% of par with interest of 5.875%/year.
    • Proceeds will go to repay its revolving debt and for other general purposes. At last report, the company had $3.89B in debt against $119.39M in cash. Debt/equity is at 862.
    | Wed, Mar. 23, 4:55 PM
  • Wed, Mar. 9, 2:50 PM
    • Sinclair Broadcast Group (SBGI +2.2%) has priced its previously announced debt offering.
    • The private offering of $350M in senior unsecured notes will be sold at 100% of par value, bearing 5.875% annual interest. The notes mature in 2026.
    • The company's Sinclair Television Group is selling the notes, proceeds of which will be used to pay down a revolver.
    | Wed, Mar. 9, 2:50 PM
  • Wed, Mar. 9, 10:47 AM
    • Sinclair Broadcast Group (SBGI +2.1%) is launching a private offering for $350M in debt.
    • The offering comes via its wholly owned subsidiary, Sinclair Television Group. The company will offer $350M in senior unsecured notes, to mature in 2026, and use proceeds to pay down amounts under its revolving credit facility and for general purposes.
    • Total debt at Sinclair was last reported at $3.89B, with debt/equity of 862%.
    | Wed, Mar. 9, 10:47 AM | 1 Comment
  • Mon, Mar. 7, 3:51 PM
    • Tribune Media (NYSE:TRCO) -- which jumped last Monday after an earnings beat and news that it would explore a sale that could include a split-up -- may be trying to sell itself in one piece, CTFN reports.
    • Parts may be a little more valuable separately, but the assets are diverse and an all-at-once sale will be easier to pull off, banker sources say.
    • One said that Tribune parts are worth about $2B-$3B more than current enterprise value.
    • Private equity may take on the task of buying the whole company and then splitting it for value. A total sale would be complicated by complicated ownership rules regarding Tribune's broadcast station portfolio; eventual buyers for those could include Sinclair (NASDAQ:SBGI), Media Genera (NYSE:MEG), Nexstar (NASDAQ:NXST) and Hubbard.
    • TRCO is up 28.9% since last week's report.
    • Previously: Tribune Media +9.3%; Q4 beats, exploring sale (Feb. 29 2016)
    | Mon, Mar. 7, 3:51 PM
  • Mon, Mar. 7, 3:39 PM
    • Sinclair Broadcast Group (NASDAQ:SBGI) is taking more small steps into new media, with an investment in mobile video company Burst.
    • Terms were undisclosed. Sinclair's using its Sinclair Digital Ventures unit to take the stake.
    • Burst's specialty is rapidly gathering mobile video from reporters, social teams and users, and then allowing for routing that content out through various platforms.
    • Media services agency Horizon Media also took a stake in Burst, the company said.
    • Sinclair last week closed on its acquisition of the Tennis Channel, and in April led a $2M seed round for ScoreStream, focused on sourcing information from high school sports.
    • Previously: Sinclair Broadcast Group closes $350M buy of Tennis Channel (Mar. 02 2016)
    | Mon, Mar. 7, 3:39 PM
  • Wed, Mar. 2, 10:23 AM
    | Wed, Mar. 2, 10:23 AM
  • Thu, Feb. 25, 8:36 PM
    • Broadcast players in a critical FCC spectrum auction will get their chance to declare themselves in for the sale -- during just a 32-hour window in which to get in, or stay out.
    • The FCC has set 10 a.m. March 28 for the start of a commitment window for its broadcast incentive auction set to begin the next day. Broadcasters can start locking in commitment elections from then until 6 p.m. the following day.
    • Stations will be able to preview the "commitment module" starting March 24, but will need to act fast the next week in order to lock themselves in to selling airwaves. Late stations will be barred from the auction.
    • Spectrum players: VZ, T, TMUS, S, DISH, SBGI, EVC, CMCSA, CHTR, NXST
    • Previously: FBR: Airwaves auction could bolster Dish Network (Feb. 19 2016)
    | Thu, Feb. 25, 8:36 PM | 14 Comments
  • Thu, Feb. 25, 11:13 AM
    • The FTC has signed off on Sinclair Broadcast Group's (SBGI +1.1%) purchase of the Tennis Channel.
    • Sinclair came to a $350M agreement last month to buy the channel from its owners, a mix of private-equity firms and smaller stakeholders DirecTV (NYSE:T) and Dish Network (NASDAQ:DISH).
    • The FTC gave the deal early termination of its antitrust review. Sinclair will get the channel along with its OTT services, TC Plus and TV Everywhere, and expects to benefit from more than $200M of net operating loss carry-forwards.
    • Previously: Sinclair Broadcast Group seals $350M deal for Tennis Channel (Jan. 27 2016)
    | Thu, Feb. 25, 11:13 AM
Company Description
Sinclair Broadcast Group, Inc. engages in diversified television broadcasting operations. It provides certain programming, operating and sales services to television stations. The company was founded by Julian Sinclair Smith in 1986 and is headquartered in Hunt Valley, MD.
Sector: Services
Industry: Broadcasting - TV
Country: United States