Contact: Chris Ripley, Chief Financial Officer
Lucy Rutishauser, SVP-Corporate Finance & Treasurer
SINCLAIR REPORTS FOURTH QUARTER 2015 FINANCIAL RESULTS
- REPORTS $0.61 DILUTED EARNINGS PER SHARE
- DECLARES $0.165 QUARTERLY DIVIDEND PER SHARE
BALTIMORE (February 24, 2016) — Sinclair Broadcast Group, Inc. (Nasdaq: SBGI), the “Company” or “Sinclair,” today reported financial results for the three and twelve months ended December 31, 2015.
“Sinclair continues to introduce industry-leading initiatives that expand our viewing and advertising platforms. Most notable, we are creating low-cost original programming, adding unique news content, launching various network platforms, and expanding our digital strategies on multiple devices,” commented David Smith, President and CEO of Sinclair. “We continue to advocate for regulatory reform to allow broadcast television to compete on a level playing field with other forms of media, and we are making great strides on behalf of the industry to bring the Next Generation Broadcast Platform and its many potential business use cases to the consumer.
In January 2016, we announced the acquisition of Tennis Channel, one of the only independently-owned major sports networks. Unlike many cable networks that are secularly challenged, Tennis Channel is under-distributed yet has unique live sports content, a passionate fan base and an established brand. We have already secured commitments from multi-video program distributors expanding Tennis Channel’s distribution footprint from 30 million homes to 50 million to drive viewership, affiliate fees and advertising revenues.”
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