Sinclair Broadcast Group, Inc. (SBGI) - NASDAQ
  • 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
  • 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
  • Wed, Mar. 2, 10:23 AM
    | Wed, Mar. 2, 10:23 AM
  • 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
  • Wed, Jan. 27, 4:30 PM
    • After some lengthy talks, Sinclair Broadcast Group (SBGI +1.7%) has agreed to acquire the Tennis Channel for $350M.
    • The company -- the nation's biggest local broadcaster -- says it will benefit from more than $200M of net operating loss carry-forward, which Sinclair estimates to be worth about $65M in present value.
    • Sinclair had begun talks as of September with the various private-equity owners of the network, including Apollo Partners and Bain Capital Ventures, as well as smaller stakeholders DirecTV (NYSE:T) and Dish Network (NASDAQ:DISH).
    • The deal includes established over-the-top subscription services, TC Plus and TV Everywhere, and the channel has rights to 90% of all televised tennis in the U.S.
    • "The Company expects 2015 pro forma operating cash flow for the contracted subscriber increases (including the additional license fees and advertising revenues resulting from such increased carriage), to be approximately $60M, the synergies of which will be phased in over 18 months, and resulting in a 2015 pro forma purchase multiple, including the present value of the NOLs, of 4.8x and approximately $0.40 of incremental cash flow per share," says Sinclair CFO Chris Ripley.
    • The company will discuss the acquisition in a conference call set for tomorrow at 9 a.m. ET.
    • Previously: WSJ: Sinclair in talks to acquire Tennis Channel (Sep. 21 2015)
    | Wed, Jan. 27, 4:30 PM | 4 Comments
  • Oct. 1, 2015, 9:59 AM
    • Local broadcast firms Sinclair Broadcast Group (SBGI -0.8%) and Gray Television (GTN -0.4%) have agreed to swap TV stations, as Gray makes a number of moves to facilitate regulatory approvals from its $442.5M acquisition of Schurz Communications.
    • Sinclair is taking on the broadcast assets of WSBT, in South Bend-Elkhart, Ind., and agreed to sell Gray the broadcast assets of WLUC in Marquette, Mich.
    • Gray agreed to sell KAKE-TV in the Wichita, Kan., market to Lockwood Broadcast Group in exchange for Lockwood's WBXX-TV in Knoxville, Tenn. It's also sending KOTA-TV of Rapid City, S.D., to Legacy Broadcasting, and will take on KYES-TV in Anchorage, Alaska.
    • The South Bend DMA is about four times larger than Marquette, and Sinclair says the transaction should be accretive to annual cash flows by about $1M after synergies.
    • The moves are pending antitrust and FCC approvals, and are expected to close roughly by the end of the year.
    • Previously: Gray Television paying $442.5M for Schurz TV, radio stations (Sep. 14 2015)
    | Oct. 1, 2015, 9:59 AM
  • Sep. 21, 2015, 3:36 PM
    • Sinclair Broadcast Group (SBGI +0.6%), the nation's biggest local broadcaster, has held talks to acquire the Tennis Channel, The Wall Street Journal reports.
    • Sinclair has engaged in multiple rounds of talks with the various private-equity owners of the network, which include Apollo Global Management and Bain Capital Ventures. DirecTV (NYSE:T) and Dish Network (NASDAQ:DISH) also have small stakes.
    • The ownership is seeking a healthy premium, asking $500M or more for the Tennis Channel.
    • It would be a bid for more content by Sinclair, which is dependent on the big four broadcasters for much of what it puts on TV.
    | Sep. 21, 2015, 3:36 PM | 2 Comments
  • Jun. 23, 2014, 11:14 AM
    • Media General (MEG -0.9%) announces it will purchase the ABC affiliate in Harrisburg, Pennsylvania for $83.4M in cash.
    • The station is owned by Allbritton Communication which is being acquired by Sinclar Broadcasting Group (SBGI +0.3%).
    • The sale is part of Sinclair's plan to divest assets in connection with the merger.
    | Jun. 23, 2014, 11:14 AM
  • Jul. 29, 2013, 10:05 AM
    • Sinclair Broadcast Group (SBGI +0.8%) will buy 8 TV stations for $985M.
    • The deal, which is slated to close in Q4, will include 7 ABC stations and NewsChannel 8 in Washington D.C.
    • Sinclair's acquisitions continue a strong trend of consolidation in the industry.
    | Jul. 29, 2013, 10:05 AM
  • Jun. 21, 2013, 4:49 AM
    Tribune Co. (TRBMF.PK), Meredith (MDP), Sinclair Broadcast Group (SBGI) and Nexstar Broadcasting Group (NXST) are among those expected to bid for some or all of Local TV's 19 television stations, which are forecast to attract $2-2.5B in an auction. The final offers are due in today. The sale is the latest in a series of transactions involving TV broadcasters in the wake of rising fees, with Gannet last week agreeing to acquire Belo for $1.5B plus debt.
    | Jun. 21, 2013, 4:49 AM
  • Apr. 11, 2013, 9:43 AM

    Sinclair Broadcast Group (SBGI +6.9%) acquires Fisher Communications (FSCI +0.9%) in a $373.3M deal. Apparently Sinclair wasn't joking when it said in February its previous acquisitions had "put very little stress at all" on its ability to make additional acquisitions. FSCI shareholders will get $41 in cash for their shares.

    | Apr. 11, 2013, 9:43 AM | 1 Comment
  • Jul. 19, 2012, 9:31 AM

    Sinclair Broadcast Group (SBGI +0.5%) buys six TV stations owned by Newport Television for $412.5M in a deal expected to close by the end of the year. The stations as a group reach 3% of U.S. households.

    | Jul. 19, 2012, 9:31 AM
  • Nov. 2, 2011, 9:03 AM

    Sinclair Broadcast (SBGI) says it is buying eight television stations in seven U.S. markets from Freedom Communications for $385M. Also, Sinclair announces Q3 EPS of $0.24, vs. $0.18 in the year-ago period, and revenue of $180.9M, vs. $186.5M a year ago. Both figures exceeded analyst expectations. (PR)

    | Nov. 2, 2011, 9:03 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