Q3 Earnings: Sinclair Net Broadcast Revenues Up 35%


By Merrill Knox Comment

sinclair logoSinclair Broadcast Group reported net broadcast revenues of $303 million for the third quarter of 2013, a +34.7% increase compared to the year-ago quarter.

Net income was $36.3 million for the quarter, up from $26.2 million in the third quarter of 2012. In the non-election year, political revenues were $2.7 million, down from $27.8 million in the year-ago period. Local net broadcast revenues were up +53.3%, while national net broadcast revenues were down -7%. In terms of advertising, automotive, services, grocery, media, furniture and home products were up on a same-station basis, while telecommunications and paid programming were down.

“We are pleased with our solid third quarter results and expect to continue to grow our revenue share and provide additional value to our shareholders through our station acquisitions and the synergies and efficiencies of scale that we are creating as we continue to consolidate,” SBG president and CEO David Smith said in a statement. “…As we look ahead, we are beginning to assess other possible avenues for growth after the after the industry consolidates, including enhancing our original content offerings and distribution, the pursuit of strategic partnerships and monetizing spectrum holdings, all with the intent of creating additional value for our shareholders.”