Sinclair Revenues Rise In First Quarter

Q1 Revenues Up

SINCLAIR BROADCAST GROUP, INC. first quarter 2019 total revenues rose 8.5% to $722.1 million, with net income falling from $43.1 million (which included gains on asset sales and incentive auction spectrum sales) to $21.7 million (42 to 23 cents/diluted share).  SINCLAIR does not report the results from its radio properties, News-Talk KVI-A, News KOMO-A-F and Hot AC KPLZ (STAR 101.5)/SEATTLE.

"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," said Pres./CEO CHRIS RIPLEY.  "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."

Also, the SINCLAIR Board of Directors has declared a quarterly cash dividend of 20 cents per share on the Company's Class A and Class B common stock, payable on JUNE 17th to shareholders of record on MAY 31st.

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