Sinclair Broadcast Group Revenues, Income Up For Second Quarter

Q2 Up

SINCLAIR BROADCAST GROUP, INC. second quarter 2019 total revenues increased 5.6% year-to-year to $771 million, with net income attributable to the company up from $28 million to $42 million (27 to 45 cents/diluted share). Media revenues rose 3.6% to $721 million, despite a drop in political revenues for the off-year from $28 million to $3 million. Digital revenues jumped 30%.

Results for the company's radio properties in SEATTLE were not disclosed.

"We continue to make great strides in the transformation of SINCLAIR to a diversified media company," said Pres./CEO CHRIS RIPLEY. "We have closed on the bond financing and successfully syndicated the bank financing to fund the acquisition of the FOX RSNs, which we anticipate, subject to regulatory approval, will close during the third quarter of 2019. On the broadcast side, we achieved, and in some cases exceeded, our second quarter guidance in all key financial metrics, and we renewed a multi-year carriage agreement with one of the country's largest multi-video program distributors. As a leading news organization, our stations have won 328 news awards so far this year."

The company's board also declared a 20 cents/share quarterly cash dividend on its Class A and Class B common stock, payable SEPTEMBER 16th to shareholders of record as of AUGUST 30th.

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