Sinclair Broadcast (SBGI)

Sinclair Broadcast Group, Inc. is a diversified media company and leading provider of local sports and news. The Company owns and/or operates 23 RSN brands; owns, operates and/or provides services to 190 television stations in 88 markets; is a leading local news provider in the country; owns multiple national networks; and has TV stations affiliated with all the major broadcast networks. Sinclair’s content is delivered via multiple-platforms, including over-the-air, multi-channel video program distributors, and digital platforms. Sinclair, either directly or through its venture subsidiaries, makes equity investments in strategic companies.

Company profile

Ticker

SBGI

Exchange

NASDAQ

Website

www.sbgi.net

CEO

Christopher Ripley

Incorporated

Maryland

Location

Maryland

Fiscal year end

Dec 31

Sector

Information > Television Broadcasting

Industry (SIC)

Television Broadcasting Stations

Paramount Global • Fox • Tribune Media • Liberty Media Corp. • TEGNA • Central European Media Enterprises • Gray Television • E.W. Scripps • Nexstar Media • Entravision Communications ...

SEC CIK

0000912752

Corporate docs

Articles of Incorporation & Bylaws

Underwriting Agreements

Plans of Reorganization

Indentures

Material Contracts & Credit Agreements

Subsidiaries Lists

Subsidiaries

Acrodyne Technical Services, LLC • Allegiance Capital L.P. • Amplify IP, LLC • Diamond Sports Topco, LLC • Diamond Digital Group, LLC • Diamond Sports Holdings, LLC • Diamond Sports Intermediate Holdings • Diamond Sports Intermediate Holdings, LLC • Diamond Sports Finance Company • Diamond Sports Group, LLC ...

IRS number

521494660

SEC advisor number

801-112035

FINRA CRD number

290206

AUM ?

$74.36M (as of 1 Jan 20)

Accounts

2 (as of 1 Jan 20)

Employees

4 (3 investment advisory or research)

Address

Sinclair Broadcast
10706 BEAVER DAM ROAD
HUNT VALLEY
MD 21030

Phone

4105681500

Brochures

Sinclair 2020 Adv Part II (29 Mar 20)

SBGI stock data

1M 1Y 5Y

News

From Benzinga Pro

'Sinclair CEO: Tennis Channel to Launch Direct-to-Consumer Streamer in Late 2023/Early 2024' -The Streamable Report

3 Aug 22

https://thestreamable.com/news/sinclair-ceo-tennis-channel-to-launch-direct-to-consumer-streamer-in-late-2023-early-2024

Recap: Sinclair Broadcast Group Q2 Earnings

3 Aug 22

Sinclair Broadcast Group (NASDAQ:SBGI) reported its Q2 earnings results on Wednesday, August 3, 2022 at 07:30 AM. Here's what investors need to know about the announcement. Earnings Sinclair Broadcast Group reported an EPS of $-0.03.

Earnings Scheduled For August 3, 2022

3 Aug 22

Companies Reporting Before The Bell • Fresh Del Monte Produce (NYSE:FDP) is likely to report quarterly earnings at $0.79 per share on revenue of $1.15 billion.

Sinclair Announces Agreements With Korean Broadcasters To Further NextGen Broadcasting; Terms Not Disclosed

1 Aug 22

Streaming Service Bally Sports+ Launches

23 Jun 22

Press releases

From Benzinga Pro

Sinclair Stations WGME/Portland, ME and KOMO/Seattle Win RTDNA National Edward R. Murrow Awards

11 Aug 22

WGME Wins Overall Excellence KOMO Wins Best Sports Reporting Sinclair Broadcast Group (NASDAQ:SBGI) is proud to announce WGME in Portland, ME and KOMO in Seattle, WA have been honored by the Radio Television Digital

Sinclair and Diamond Sports Group to Host Second Quarter 2022 Financial Results Conference Call on August 18, 2022 at 9:00 a.m. (Eastern Time)

11 Aug 22

Sinclair Broadcast Group, Inc. (the "Company") (NASDAQ:SBGI), and the management team of Diamond Sports Intermediate Holdings LLC ("Diamond"), its unconsolidated subsidiary, will host a conference call to discuss

Sinclair Broadcast Group and Feeding America® Provided 1.78 Million Meals to Children Through "Sinclair Cares: Summer Hunger Relief" Initiative

8 Aug 22

This summer, Sinclair Broadcast Group partnered with Feeding America® to launch Sinclair Cares: Summer Hunger Relief, a fundraising campaign to help provide meals to children and families across the U.S. The

Sinclair Announces Expansion of Digital Executive Team

8 Aug 22

Sinclair Declares $0.25 Per Share Quarterly Cash Dividend

3 Aug 22

Analyst ratings and price targets

Last 3 months

Calendar

9 May 22

12 Aug 22

31 Dec 22

Financial summary

Financial statements Chart SBGI financial data

Quarter (USD)	Mar 22	Dec 21	Sep 21	Jun 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Annual (USD)	Dec 21	Dec 20	Dec 19	Dec 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Cash burn rate (est.)	Burn method: Change in cash		Burn method: Operating income		Burn method: FCF (opex + capex)
	Last Q	Avg 4Q	Last Q	Avg 4Q	Last Q	Avg 4Q
Cash on hand (at last report)	521M	521M	521M	521M	521M	521M
Cash burn (monthly)	99.33M	35.33M	(no burn)	(no burn)	(no burn)	(no burn)
Cash used (since last report)	439.15M	156.21M	n/a	n/a	n/a	n/a
Cash remaining	81.85M	364.79M	n/a	n/a	n/a	n/a
Runway (months of cash)	0.8	10.3	n/a	n/a	n/a	n/a

Beta Read what these cash burn values mean

Financial data from company earnings reports.

Recent insider trades

SBGI insider ownership history Insider history

Date	Owner	Security	Transaction	Code	Indirect	10b5-1	$Price	#Shares	$Value	#Remaining
11 Jul 22	Smith David D	Class B Common Stock Class B Common Stock	Grant	Acquire A	Yes	No	0	1,500,000	0	1,500,000
11 Jul 22	Smith David D	Class B Common Stock Class B Common Stock	Gift	Dispose G	No	No	0	1,500,000	0	911,072
11 Jul 22	Smith David D	Class B Common Stock Class B Common Stock	Grant	Acquire A	Yes	No	0	1,500,000	0	1,500,000
11 Jul 22	Smith David D	Class B Common Stock Class B Common Stock	Gift	Dispose G	No	No	0	1,500,000	0	2,411,072
11 Jul 22	Smith David D	Class B Common Stock Class B Common Stock	Grant	Acquire A	Yes	No	0	1,500,000	0	1,500,000
11 Jul 22	Smith David D	Class B Common Stock Class B Common Stock	Gift	Dispose G	No	No	0	1,500,000	0	3,911,072
11 Jul 22	Smith David D	Class B Common Stock Class B Common Stock	Grant	Acquire A	Yes	No	0	1,500,000	0	1,500,000
11 Jul 22	Smith David D	Class B Common Stock Class B Common Stock	Gift	Dispose G	No	No	0	1,500,000	0	5,411,072
11 Jul 22	Smith David D	Class B Common Stock Class B Common Stock	Buy	Acquire P	No	No	20.79	1,500,000	31.19M	6,911,072
11 Jul 22	Smith David D	Class B Common Stock Class B Common Stock	Buy	Acquire P	No	No	20.79	1,500,000	31.19M	5,411,072

Data from 3, 4 and 5 filings. Values as filed, not updated for current price.

Institutional ownership, Q1 2022

SBGI institutional ownership history Ownership history

78.5% owned by funds/institutions

13F holders	Current	Prev Q	Change
Total holders	153	166	-7.8%
Opened positions	26	33	-21.2%
Closed positions	39	49	-20.4%
Increased positions	45	43	+4.7%
Reduced positions	45	51	-11.8%

13F shares	Current	Prev Q	Change
Total value	1.03B	1.82B	-43.1%
Total shares	36.86M	45.25M	-18.5%
Total puts	64.6K	308.7K	-79.1%
Total calls	612.9K	545.1K	+12.4%
Total put/call ratio	0.1	0.6	-81.4%

Largest owners	Shares	Value	Change
Vanguard	5.2M	$145.74M	-2.3%
HG Vora Capital Management	4.75M	$133.1M	0.0%
Contrarius Investment Management	4.23M	$118.51M	+1.8%
BLK Blackrock	3.95M	$110.55M	+1.0%
GBL Gamco Investors	2.46M	$68.89M	-0.1%
Vaughan Nelson Investment Management	1.33M	$37.38M	-5.4%
BAC Bank Of America	1.23M	$34.41M	-31.6%
STT State Street	993.9K	$27.85M	+2.7%
Gabelli Funds	928.8K	$26.03M	0.0%
Geode Capital Management	879.29K	$24.64M	+4.0%

Largest transactions	Shares	Bought/sold	Change
MS Morgan Stanley	200.46K	-3.31M	-94.3%
Conifer Management, L.L.C.	0	-2.44M	EXIT
Canada Pension Plan Investment Board	0	-691.55K	EXIT
BCS Barclays	7.68K	-628.11K	-98.8%
BAC Bank Of America	1.23M	-566.01K	-31.6%
Empyrean Capital Partners	0	-524.17K	EXIT
Renaissance Technologies	618.57K	+484K	+359.7%
Nordea Investment Management Ab	0	-452.91K	EXIT
Norges Bank	0	-420.02K	EXIT
Millennium Management	407.07K	+316.12K	+347.6%

Data from 13F filings, for the last complete 13F reporting period. For most recent data, click the ownership history button. Values as filed, not updated for current price. Long positions only.

Financial report summary

Management Discussion

Any references to the second, third, or fourth quarters are to the three months ended June 30, September 30, or December 31, respectively, for the year being discussed. For the quarter ended March 31, 2022, we have two reportable segments, "broadcast" and, prior to Deconsolidation, "local sports," that are disclosed separately from our other and corporate activities.
The operating results of our broadcast segment are usually subject to cyclical fluctuations from political advertising. In even numbered years, political spending is usually significantly higher than in odd numbered years due to advertising expenditures preceding local and national elections. Additionally, every four years, political spending is usually elevated further due to advertising expenditures preceding the presidential election. Also, the second and fourth quarter operating results are usually higher than the first and third quarters’ because advertising expenditures are increased in anticipation of certain seasonal and holiday spending by consumers.
The operating results of our local sports segment are usually subject to cyclical fluctuations based on the timing and overlap of the Major League Baseball ("MLB"), NBA, and NHL seasons. Usually, the second and third quarter operating results are higher than the first and fourth quarter operating results.

Content analysis

Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability	H.S. freshman Avg

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Removed: amortize, arrangement, assume, bargaining, branding, calendar, called, Cape, closing, collective, commenced, commitment, committed, concentration, consideration, cured, CW, cyber, cyclicality, delivered, delivery, dependent, depending, driven, driver, dropping, Eligibility, ending, erosion, exceeded, exceeding, exercisable, existence, fewer, format, Girardeau, historically, identified, incremental, initially, iv, KBSI, KY, legislative, lesser, lowest, macroeconomy, manner, maturing, meet, meeting, migrate, minimum, MO, moderated, monitoring, ongoing, owed, Paducah, penny, perpetual, postponement, preclude, prevailing, reduction, refinancing, refund, regularly, requirement, resumed, returned, revised, Samsung, satisfied, seasonality, seller, standing, successor, sum, sustainability, team, threshold, transferred, transition, unusual, utilize, variety, varying, WDKA, winding, WSYX, ZypMedia

From filing 10-Q 2022 Q1

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