Sinclair Reports Third Quarter 2015 Financial Results
Contact: Chris Ripley, Chief Financial Officer
Lucy Rutishauser, SVP-Corporate Finance & Treasurer
SINCLAIR REPORTS THIRD QUARTER 2015 FINANCIAL RESULTS
- REPORTS $0.45 DILUTED EARNINGS PER SHARE
- DECLARES $0.165 QUARTERLY DIVIDEND PER SHARE
BALTIMORE (November 4, 2015) — Sinclair Broadcast Group, Inc. (Nasdaq: SBGI), the “Company” or “Sinclair,” today reported financial results for the three and nine months ended September 30, 2015.
“Not only did our financial performance in the third quarter exceed our expectations, but we continued to expand our national footprint through additional station acquisitions, to enhance our digital distribution platform with the launch of our content and video management systems, and to offer more news, local sports and entertainment content to our viewers. In addition, we returned just over half of our discretionary cash flow to our shareholders in the quarter,” commented David Smith, President and CEO of Sinclair.
Mr. Smith continued, “We are equally excited about recent milestones on the adoption of the Next Generation Broadcast Platform, which we expect will redefine and increase the competitiveness and business use cases of television broadcasting in the future. ATSC 3.0 is an “all-IP” system, supporting broadcast and broadband hybrid services. The Advanced Television Systems Committee’s elevation of the Physical Layer of ATSC 3.0 to Candidate Standard status now clears the way for the Federal Communications Commission to consider and adopt new rules to allow television broadcasters to better compete with other forms of media, telecom and technology companies in providing consumers a more robust and efficient delivery pipeline.”
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