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Q2 Earnings: Sinclair Net Broadcast Revenues Up 28%

Sinclair Broadcast Group reported $279.3 million in net broadcast revenues for the second quarter of 2013, a 28.4% increase on the year-ago quarter. The company had operating income of $84.3 million for the quarter, compared to $71.9 million in the second quarter of 2012.

Local net broadcast revenues, which includes local time sales, retransmission revenues and other broadcast revenues, were up 35.9% in the second quarter. National broadcast revenues were up 7%. Political revenues declined in the non-election year: the company reported $1.5 million this quarter, compared to $11.4 million for the year-ago quarter.

“The first half of 2013 has been very successful for the Company, not only with respect to the Company’s results but on growing our platform through additional acquisitions of broadcast assets, especially our most recently announced planned acquisitions of the Allbritton stations and their local news cable/satellite channel,” Sinclair president and CEO David Smith said in a statement. “…We are excited about the successes we have achieved and the additional value that we have created and anticipate creating for our shareholders.”

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