Sinclair Reports First Quarter 2019 Financial Results

News Release


SINCLAIR REPORTS FIRST QUARTER 2019 FINANCIAL RESULTS

• INCREASES TOTAL REVENUE BY 9% COMPARED TO PRIOR YEAR
• ANNOUNCES QUARTERLY DIVIDEND PER SHARE OF $0.20

BALTIMORE (May 8, 2019) – Sinclair Broadcast Group, Inc. (Nasdaq: SBGI), the “Company” or “Sinclair,” today reported financial results for the three months ended March 31, 2019.

CEO Comment:

“This is a very exciting time for Sinclair led by our recent announcement to acquire 21 Regional Sports Networks, industry collaboration on the implementation of the ATSC 3.0 broadcast standard, and continued success of our local news organization,” commented Chris Ripley, President and Chief Executive Officer. “We are transforming the Company, diversifying our content sources and revenue mix, and building a leading local news and sports organization on all platforms. In addition, during the first quarter, we launched our free, linear and on-demand multi-channel streaming service, STIRR, which is exceeding initial expectations. We announced a joint venture with the Chicago Cubs for the launch in 2020 of Marquee Sports Network, and entered into a definitive agreement to purchase 21 RSNs for a very attractive and accretive $9.6 billion purchase price, representing a $10.6 billion enterprise value. Meanwhile, we also exceeded our guidance for the first quarter in the key financial metrics.”

Read more…Q1 19 FINAL

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