The Latest Breaking News from Sinclair

BALTIMORE — Baltimore voters will be asked this fall to decide if the city’s future elected leaders should be limited to two terms, the only successful question to emerge from multiple petition drives to put issues on the ballot this year.

After a corporate reorganization involving its regional sports networks, Sinclair Broadcast Group is on solid footing, even in the face of a potential recession, the company’s CEO told shareholders Thursday.

CHICAGO — When the Chicago Cubs announced they were leaving their old TV home to start their own network, it was viewed by some as a prudent business decision that would create another vital revenue stream.

Sinclair Broadcast Group said it earned $2.59 billion — yes, with a B — in the first quarter as it “deconsolidated” its local sports segment from its financial statements.

Sinclair Broadcast Group, Inc (NASDAQ:SBGI) reported a first-quarter FY21 revenue decline of 14.8% year-on-year to $1.29 billion, missing the consensus of $1.53 billion. Total advertising revenues of $371 million were inline Y/Y. Distribution revenues of $873 million declined 21.3% Y/Y. Adjusted operating income increased 70% Y/Y to $114 million. EPS was $35.39 versus…

While Sinclair Broadcast Group Inc (NASDAQ: SBGI) is a diversified media company, providing high-quality content via its local television stations, sports networks and digital platforms, the market seems to be valuing it as a traditional television broadcaster, according to EF Hutton.

Sinclair Broadcast Group Inc (NASDAQ:SBGI) reported a fourth-quarter FY21 revenue decline of 2% year-on-year to $1.48 billion, missing the consensus of $1.56 billion. Lost revenues due to the cyber incident and the absence of political revenues in a non-political year affected the revenue growth. Total advertising revenues of $383 million decreased 31% Y/Y.…