Contact: Chris Ripley, President & Chief Executive Officer
Lucy Rutishauser, SVP Chief Financial Officer
SINCLAIR REPORTS FIRST QUARTER 2017 FINANCIAL RESULTS
• REPORTS $0.61 DILUTED EARNINGS PER SHARE
• DECLARES $0.18 QUARTERLY DIVIDEND PER SHARE
BALTIMORE (May 3, 2017) – Sinclair Broadcast Group, Inc. (Nasdaq: SBGI), the “Company” or “Sinclair,” today reported financial results for the three months ended March 31, 2017.
“2017 is shaping up to be a pivotal year with the FCC’s recent reinstatement of the UHF discount, expected approval of ATSC 3.0 (Next Generation Broadcast Platform), and much needed modernization of antiquated broadcast regulations. Positive movements by the FCC on these fronts will allow us, among other things, to better serve our local communities through increased investment in local news and other quality local programming,” commented David Smith, Executive Chairman. “In anticipation of ATSC 3.0’s approval, we have been laying the groundwork for development of a nationwide network, design of 3.0 chipsets, and will be testing single frequency network technology and advanced business models later this summer. The Next Gen technology will transform how we interact with consumers and allow us to implement value-enhancing business models as the convergence and emergence of alternative platforms and companies proliferate.”
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