Contact: Chris Ripley, President & Chief Executive Officer
Lucy Rutishauser, SVP Chief Financial Officer
SINCLAIR REPORTS FOURTH QUARTER 2016 FINANCIAL RESULTS
• REPORTS $1.32 DILUTED EARNINGS PER SHARE
• DECLARES $0.18 QUARTERLY DIVIDEND PER SHARE
BALTIMORE (February 22, 2017) – Sinclair Broadcast Group, Inc. (Nasdaq: SBGI), the “Company” or “Sinclair,” today reported financial results for the three months and year ended December 31, 2016.
“With the spectrum auction coming to an end and the potential for deregulation on the horizon, we expect 2017 to be a pivotal year for Sinclair and the broadcast industry,” commented David Smith, Executive Chairman. “Additionally, the Federal Communications Commission is in process of conducting a rulemaking proceeding for the use of ATSC 3.0 (the Next Generation Broadcast Standard), which we expect will result in its approval later this year. The new technology is expected to revolutionize the broadcast industry and provide for new business opportunities, products and services. We anticipate the long-awaited deregulation of the industry’s antiquated rules and the end of the spectrum quiet period to spur consolidation; a positive given that our industry has been prohibited from competing on a level playing field with other forms of media.”
Read more…Q4 16 FINAL