by [Taylor Van Sickle]
![[1]](http://images4.wikia.nocookie.net/__cb20110515151804/logopedia/images/6/67/Sbg.gif){kind=link}
Sinclair Broadcast Group, Inc.
10706 Beaver Dam Road
Hunt Valley, Maryland 21030
(410) 568-1500
David D. Smith, President and CEO of Sinclair Broadcast Group, Inc.
[7]
Executives
David D. Smith: President, Chief Executive Officer, Chairman of the Board and Director – David D. Smith has held his position as President and CEO since 1988. Prior to working for Sinclair he founded Comark Communications, Inc. He played a very important role in the creation and success of Sinclair Broadcast Group, Inc [2].
Frederick G. Smith: Vice President and Director
J. Duncan Smith: Vice President, Secretary and Director
David B. Amy: Vice President and Chief Financial Officer
David R. Bochenek: Vice President and Chief Accounting Officer
Barry M. Faber: Executive Vice President and General Counsel
History
Sinclair Broadcast Group started out as one station in Baltimore, Maryland. The original station was created in 1971 by Julian Sinclair Smith, but it wasn’t until 1986 that his four sons came up with the idea of the Sinclair Broadcast Group. After only 10 years Sinclair Broadcast Group became the largest commercial television broadcasting company not to be owned by a network in the country. Sinclair Broadcast Group faced some rough times during 2001, but was able to make it through and by 2006 had become the largest FOX and MyNetworkTV affiliate groups. They also became the second largest ABC affiliate and the third largest affiliate for the CW network in the United States. The success of Sinclair Broadcast Group in the past is not surprising when looking at their continued success in 2012 [4].
Company Overview
- Sinclair Broadcast Group, Inc. Network Affiliates [3]
The Sinclair Broadcast Group, Inc. is headed by President and CEO, David Smith. David Smith has been President and CEO since 1988 and has contributed exponentially to the company. He has also served at Chairman of the Board since 1990. He has helped build Sinclair Broadcast Group since the start of the company. As one of the leading television broadcasting companies in the United States, Sinclair Broadcast Group manages 74 television stations within 45 markets. The broadcasting company includes FOX, ABC, CW, CBS, MTV, NBC, MyTV, and Azteca affiliates. Sinclair operates 20 FOX stations, 18 MyTV, 11 ABC, 14 CW, 9 CBS, 1 NBC, and 1 Azteca. With these networks Sinclair is able to reach about 26.3% of households in the country [3]. Sinclair Broadcast Group, Inc. continues to grow in size and range. They reach a large amount of households in the country and continue to increase the number of people that they reach.
Competitors
Recent News
August 13th, 2012 Sinclair Broadcast Group’s retransmission consent agreement with Dish Network was about to end and the two companies were in talks to either create a new one or Dish would stop carrying some of Sinclair’s stations. To be exact if the companies did not create a new retransmission consent agreement Dish would stop broadcasting 70 of Sinclair’s stations. Later Sinclair Broadcast Group announced its agreement with Dish Network to create a new retransmission consent agreement [5].
September 19th, 2012 Michael Simon was named Director of Advanced Technology for Sinclair Broadcast Group. Previous positions include Manager of Advanced Technology for Rohde & Schwarz, Lead Application Engineer for Harris Corporation, and Chief Engineer for Sinclair’s Pittsburgh market. In this position Mr. Simon will be in charge of developing new technologies to further advance the broadcasting company’s business. Sinclair’s Vice President of Advanced Technology, Mark Aitken said that, “Sinclair is probing the fundamental technologies that will enable us to leverage future business-enabling technologies,” which Mr. Simon will contribute to greatly [5.1].
October 12th, 2012 Sinclair Broadcast Group decided to close their previous contribution of $500 million of senior unsecured notes. By closing this offer, Sinclair Broadcast Group used the profits to then buy multiple stations from Newport Television LLC. Also, they intended to use the profits from this to pay off outstanding debt and for other company purposes [5.2].
November 13th, 2012 Sinclair Broadcast Group announced an exciting partnership with DataSphere Technologies. DataSphere Technologies is a marketing company that focuses mainly on local businesses to help them gain exposure. The two companies made an agreement that Sinclair will promote event calendars, and small business marketing solutions over 21 of their markets in the country. This partnership is important for both DataSphere and Sinclair. It offers DataSphere an opportunity to promote their services and get more business. The deal offers Sinclair a way to connect with local businesses in their markets and get advertising for their stations and website [9].
December 1, 2012 Sinclair Broadcast Group has obtained several more stations, while also getting rid of some of its previously existing stations. Through their deal Sinclair gained 6 new stations from Newport Television LLC. Along with the stations Sinclair also purchased Newport’s rights under the local marketing agreements with two stations. Sinclair also obtained Newport’s non-license assets for their station in Rochester for $54 million. While gaining stations, Sinclair also sold some of its preexisting stations. Sinclair made a deal with Deerfield Media, Inc. selling them their station in San Antonio and Cincinnati. Sinclair also sold them license assets to two of their stations. With these stations gains Sinclair added stations to four markets that they presently existed in and added two new markets to their business. The total deal cost them $459.7 million [8].
Finances
In Sinclair Broadcast Group, Inc.’s quarterly numbers, they are doing significantly well this year. Their total revenue over a three-month period this year was $260,489 as opposed to last year’s total revenue of $181,042. Also their total revenue over a nine-month period increased between this year and last year as well from, $552,511 to $736,817 [10].
In November the Board of Directors at Sinclair Broadcast Group, Inc. stated that the company’s Class A and Class B stock will have a $1.00 dividend per share and a quarterly dividend of $0.15 per share [5.3]. Also the company announced that for the third quarter of this year the earned $0.32 per share. This earning did not, however, match the estimated amount of $0.35 per share [10].
Sinclair Broadcast Group, Inc. Stock Information [11]
Sinclair Broadcast Group, Inc. Income Chart [12]
Sinclair Broadcast Group Stock [12]
Sources
1. Google: http://images4.wikia.nocookie.net/__cb20110515151804/logopedia/images/6/67/Sbg.gif
2. Sinclair Broadcast Group Website: http://www.sbgi.net/corp_governance/officers.shtml
3. Sinclair Broadcast Group Website (Company Profile): http://www.sbgi.net/about/profile.shtml
4. Sinclair Broadcast Group Website (History): http://www.sbgi.net/about/history.shtml
5. Sinclair Broadcast Group Website (News Releases): http://www.sbgi.net/site_mgr/temp/Dish%20Aug%202012%2D2%5Fdsrp65vp%2Eshtml
5.1 Sinclair Broadcast Group Website (News Releases): http://www.sbgi.net/site_mgr/temp/Simon%5Fwfbylrjx%2Eshtml
5.2 Sinclair Broadcast Group Website (News Releases): http://www.sbgi.net/site_mgr/temp/2012%20Notes%20Offering%20closing%5F46lhc5gp%2Eshtml
5.3 Sinclair Broadcast Group Website (News Releases): http://www.sbgi.net/site_mgr/temp/CS%2012142012%5Fqvd16wqb%2Eshtml
7. http://www.bizjournals.com/baltimore/news/2012/04/17/sinclair-broadcast-ceo-smith-gets-16.html
8. Bloomberg: http://www.bloomberg.com/article/2012-12-03/a5oA5IyRyJak.html
9. Bloomberg: http://www.bloomberg.com/article/2012-11-13/a9hfDdS2uETk.html
10. New York Times: http://topics.nytimes.com/topics/news/business/companies/sinclair-broadcast-group-inc/index.html
11. New York Times: http://markets.on.nytimes.com/research/stocks/tools/analysis_tools.asp?symbol=SBGI
12. Bloomberg: http://www.bloomberg.com/quote/SBGI:US