TVNewser LostRemote AgencySpy PRNewser FishbowlNY FishbowlDC SocialTimes AllTwitter AllFacebook InsideFacebook InsideSocialGames InsideMobileApps

Posts Tagged ‘David Smith’

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.”

Sinclair CEO: ‘There is Significant Value’ in a National Rollout of NewsChannel 8

Sinclair Broadcast Group president and CEO David Smith says there is “significant value” in expanding NewsChannel 8, Allbritton’s regional cable channel in Washington, D.C., to other markets. Smith discussed the possibility this morning in remarks to investors, Broadcasting & Cable‘s Michael Malone reports:

“Because Allbritton has limited reach, the channel has yet to be fully developed outside the D.C. area,” Smith said. “We believe we have a distinct opportunity to accomplish that.”

Smith described NewsChannel 8 as a “launching point” for a national news channel, airing both within the Sinclair group and on MVPD systems for a “unique hybrid model.” Smith threw out a $300 million figure for incremental revenue garnered from the MVPDs for carriage, using CNN’s 57 cents a sub as a model.

“The takeaway is, we believe there is significant value we can unlock when we couple the cable channel with the rest of our news channels and roll it out to more than just D.C.,” said Smith.

In a statement announcing Sinclair’s acquisition of Allbritton’s eight stations, Smith said he was “especially excited” about the addition of NewsChannel8.

Sinclair to Buy Allbritton Stations for $985 Million

Sinclair Broadcasting has announced it has entered into a definitive agreement to buy the stock of Perpetual Corporation and equity interest of Charleston Television, LLC, both owned by Allbritton for an aggregate purchase of $985 million.

Allbritton owns seven ABC affiliates including WJLA in Washington, D.C. and KATV in Little Rock, AR, as well as NewsChannel 8, a 24 hour cable news network covering Washington, D.C.

David Smith, the President and CEO of Sinclair, says he is “especially excited” about adding Albritton’s 24-hour news channel to Sinclair. “We are especially excited to acquire the NewsChannel 8 local news channel, not only for the content it can provide our existing news stations, but moreover because their regional cable presence provides the perfect platform should we decide to expand it into other markets, especially given the amount of local news we produce across our entire portfolio.”

If approved by the FCC, which should occur by the end of the year, Sinclair will own or provide sales and programming services to 149 television stations in 76 markets across the country.

You can see the list of Allbritton’s stations after the jump.

Read more

Sinclair Buys Nation’s Largest Supplier of TV Transmission Towers

Sinclair Broadcast Group is not just focusing on buying up TV stations. The station group has announced the purchased of Dielectric, the largest maker of TV, radio and wireless transmission towers in the US, from SPX Corporation.

“Dielectric has supplied more than two-thirds of the TV industry’s high power antennas and its name is synonymous with expert engineering and quality products,” Sinclair President and CEO David Smith said in a statement. “Further, if and when a spectrum repack occurs, Dielectric will be there to support that effort.”

>RELATED: Sinclair Buys Four Titan Stations, Agrees to Operate Two Read more

Sinclair Buys Four Titan Stations, Agrees to Operate Two

Sinclair Broadcast Group has announced it will buy the stock and broadcast assets of four Titan Broadcast Management TV stations and assume Titan’s agreements to provide sales and services to two others.

“We are pleased to bring the TTBG stations into the Sinclair portfolio,” said David Smith, president and CEO of Sinclair in a statement. “They will complement the California properties we are acquiring from Fisher, as well as add to our Iowa presence and give us our first stations in Nebraska. We welcome all of them to the Sinclair group.”

The six stations are in three markets reaching 1% of US TV households. Sinclair put the purchase price at $115.35 million and expects the transaction to close and fund late in the third quarter early in the fourth quarter of 2013 pending FCC approval. Read more

Sinclair Broadcast Revenues Rise 33% in Q1

Sinclair Broadcast Group reported net broadcast revenues of $259.2 million in the first quarter of 2013, an increase of 32.5% on the year-ago quarter.

Sinclair’s operating income in the first quarter of 2013 increased to $63.7 million from $59.9 million in the first quarter of 2012. Local net broadcast revenues, which include local time sales, retransmission revenues and other broadcast revenues were up 32.8% for the quarter. National net broadcast revenues were up 31.5%.

“We are excited the Barrington Broadcasting, Fisher Communications and certain of the COX Media Group stations will soon be joining us. We intend to continue analyzing and evaluating opportunities to aquire additional television station assets towards creating greater scale for our operations and  value for our shareholders,” Sinclair president and CEO David Smith said in a statement.

Sinclair CEO: More Acquisitions Planned

As we told you yesterday, Sinclair Broadcast Group is paying $373 million for Fisher Communications, the Seattle-based owner of 20 television stations and 3 radio stations. The Seattle Times notes “local media ownership takes a hit” with the merger:

When KOMO-TV owner Fisher Communications becomes part of the much larger Sinclair Broadcast Group of Baltimore this fall, Seattle will lose its last locally owned network television station. It also will lose a corporate name that played a prominent part in the region’s economy for just over a century.

[...] Fisher has about 775 employees nationally and does not disclose how many are at its Seattle headquarters. Asked whether those core employees will keep their jobs, a Fisher spokesman said, “It is premature to speculate about integration planning.”

Sinclair’s hometown newspaper, The Baltimore Sun, reports the company — which will reach 34 percent of the airwaves after the FCC’s approval of the sale — has no plans to stop expanding:

But during a conference call with analysts, [Wells Fargo senior analyst Marci] Ryvicker questioned whether Sinclair’s acquisitions would soon be limited by Federal Communications Commission rules saying a single owner’s group of stations cannot reach more than 39 percent of all TV households.

“Now that [stations] cover 34 percent of the country, how much more can you do?” she asked.

“We can do a lot more,” responded [Sinclair CEO David] Smith, explaining that the percentage of household coverage, as calculated by the FCC, would be far below 34 percent because the FCC counts UHF stations, or Ultra High Frequency, as half of a non-UHF station. Read more

Sinclair Broadcast Group to Acquire Fisher Communications for $373M

Sinclair Broadcast Group is buying Fisher Communications for $373.3 million, the two companies announced Thursday.

Fisher owns 20 television stations in eight markets, reaching 3.9% of U.S. TV households (full list is after the jump). The transaction also includes three radio stations in Seattle. As part of the terms of the agreement, Fisher will provide “certain operating services” for three TV stations in Eugene, Ore. –  KMTR, KMCB and KTCW — after the transaction is approved by the FCC.

TVNewsCheck reports Sinclair won a bidding war with LIN Media for the station group “in a deal finalized in the wee hours of Tuesday night.”

“Sinclair is the largest independent TV broadcaster in the country, and we believe its commitment to the industry — along with its greater scale and sizable resources — will provide our stations, team members and business partners with new opportunities to flourish,” Fisher president and CEO Colleen B. Brown said in a statement. Read more

Sinclair Local, National Revenue Grows in Q4

In the fourth quarter of 2012, Sinclair Broadcast Groups’ local net broadcast revenues were up 33.7% and national net broadcast revenues were up 58.8% compared to the year-ago quarter.

Sinclair had operating income of $119.1 million in the fourth quarter of 2012, compared to operating income of $63.5 million during the year-ago quarter. Net income also rose to $59 million vs. $22.7 million. Political revenues were $54.1 million for the quarter and $96.9 million for the year.

“2012 was a remarkable year for our Company,” David Smith, President-CEO of Sinclair, said in a statement. “We successfully closed on 30 TV stations, recorded record levels of political advertising, benefited from a rebound in the automotive advertising category, and achieved historic levels in key financial metrics.

Sinclair, CCA CEOs Planning Station Group Launch

David Smith, president and CEO of Sinclair Broadcast Group is planning a new station group venture focused on smaller market stations, according to Broadcasting & Cable. Steve Pruett, CEO of Communications Corp. of America and chairman of the Fox affiliates board, will play a “prominent role” in building the group, B&C reports:

The principals in the new venture, which is as yet untitled, seek to launch in the coming months with at least 20 stations. Smith called talk of the new venture “rank speculation.” He would not comment further, citing his role in a publicly traded company. Pruett, who is the Fox affiliates board chairman, could not be reached for comment. The Barrington station group is on the block and is believed to have attracted the interest of the new venture. Barrington’s executives could not be reached for comment.

The CCA stations are also being shopped. CCA owns or operates 25 stations, in Texas, Louisiana and Evansville, Ind., and their market size and affiliate mix could make them a fit for the new group. A quartet of Cox stations may also be on the startup principals’ wish list. A Cox executive would not comment.

<< PREVIOUS PAGENEXT PAGE >>