Sinclair Broadcast Group reported net broadcast revenues of $382.3 million in the fourth quarter of 2013, a 33.2% increase compared to the year-ago quarter.
Operating income for the quarter was $103.3 million, a 13.3% drop compared to the fourth quarter of 2012. The decline was due to the absence of political revenue in the non-election year, as well as one-time acquisition costs and a loss on the sale of WSYT in Syracuse. Local net broadcast revenues were up 58.1% and national net broadcast revenues were down 14.2% because of the drop in political advertising.
“2013 was a historic year for us, including growing broadcast revenues 32.3% to a record-breaking $1.2 billion, and once again leading the industry on station acquisitions,” Sinclair president and CEO David Smith said in a statement. “During the year we closed on the purchase of 63 television stations and added over $1.0 billion in assets, which contributed $148.4 million in revenues in 2013.”