Sinclair Broadcast Group #1- Stern

Samuel Stern

Sinclair Broadcast Group Inc. Logo (Photo courtesy of [1]

Company Background
The Sinclair Broadcast Group Inc. (SBG), is the largest broadcaster of television content in the United States. Sinclair owns and operates the majority of 164 television stations in 79 US markets, and owns the rest through local marketing agreements. The company reaches the largest and smallest US markets and controls the largest number of ABC, CBS, CW, FOX and MYTV affiliates in the country. Sinclair also operates 3 radio stations in the Seattle-Tacoma Market [3].

SBG Network Affiliates (photo courtesy of [2]

 The Maryland-based broadcaster is the nation’s leading local news provider, has recently begun the distribution of premium college and high-school sports programming, and operates the American Sports Network and the Ring of Honor Wrestling league.  After making making several lucrative deals to acquire stations in new markets, including a re-negotiation with DISH Network, Sinclair now reaches 37.6% of U.S. television households. Recent success has given Sinclair the opportunity to pursue new business ventures and acquire new assets [4].
One Media

ONEMedia logo, one of Sinclair’s most recent technology investments [19]

Sinclair also makes strategic equity investments through its Business Venture subsidiary. The company holds interests in multiple media and technology companies such as Acrodyne Services, ONEMedia, and Dielectric, as well as in real estate properties [5] (Scroll to investments).

David D Smith, President & CEO (Photo courtesy of [6]

  • David D. Smith, President & CEO
  • Frederick G Smith, Vice President
  • Dr. J Duncan Smith, Vice President
  • David B. Amy, Executive VP & COO
  • Christopher S. Ripley, CFO





For further Bio’s of Sinclair Executives:


Julian Sinclair Smith

Julian Sinclair Smith, Founder (photo courtesy of [10]

  In 1971, Julian Sinclair Smith started the Chesapeake Television Corporation, which operated one station in Baltimore. That one station would eventually be the cornerstone of the nation’s largest broadcast company. Julian’s sons David, Fred, and Duncan would take over the company, and in the early 1980’s change the name to the Sinclair Broadcast Company, Inc. David D. Smith took over the company as president and CEO. Throughout the 1990’s, the brothers would go on a buying spree of content that allowed Sinclair to dominate the industry, increasing its number of television stations from 3 to 59. They purchased content in markets across the country, large and small. The passage of the Telecommunications Act of 1996 allowed for some deregulation of buying control by the FCC, which allowed the company to make more important station acquisitions. This entrepreneurial attitude and progressive vision is still integrated throughout the company today [9].


The Sinclair Broadcast Group Inc. went public in 1995 and is currently traded on the NASDAQ Global Select Market at $35.36 per share. The company has just released its Third Quarter Financial Results, revealing that the executives expectations were exceeded over the past year. Compared to the 3rd quarter of 2014, Sinclair realized a massive 10.8% revenue increase of $548.4 million versus $495.0 million the year before. The total yearly revenue increased 17.9% to $1.6 billion, versus $1.36 billion in the prior year period [7].

According to a late September Financial presentation at the Deutsche Bank Leveraged Financial conference, Sinclair reported a large increase in the amount of money the company can use to pursue its current ventures and find opportunities to enhance shareholder value, purchase more assets, and branch out to other revenue streams [8].

 This influx of revenue has allowed Sinclair to work on technological advances to the company, a new initiative it has been following over the last year.

Key Initiatives 

Sinclair has been on a buying spree throughout the past quarter.

The American Sports Network (ASN), Sinclair’s premiere sports division, broadcasts sports from 18 different NCAA athletic conferences [12]. The games are aired over stations that Sinclair owns or are syndicated through non-Sinclair stations. The ASN, launched in 2014, just made two deals in September with ESPN to carry Mid-American Conference football and basketball games, and to broadcast 10 American Athletic Conference Men’s basketball games per year on the large new sports platform [11].

File:American Sports Network Logo.jpg - Wikipedia, the free ...

American Sports Network logo (photo courtesy of [15]

Sinclair is being aggressive in order to bolster the progress of the ASN. They are currently negotiating a $500 million deal to buy the Tennis Channel, which operates 90% of Tennis content in the U.S. reaching 35 million homes [13].

On October 31st, the first-ever 24/7 Sci-fi multi-channel network was launched through a joint venture between Sinclair, MGM, and Michael Eisner’s Tornante investment company. The network is called COMET, and was the largest multicast channel release ever, reaching over 60% of the country [16]. The deal notes an effort by Sinclair to own its content due to the fact that it has almost reached the FCC limit for television ownership.

North Logo

COMET logo, Sinclair’s newly owned Sci-fi Network (photo courtesy of [14]

On November 4th, Sinclair closed a deal with Pappas Telecasting and Lincoln Broadcasting in Central Nebraska to purchase a Fox affiliate and multiple ABC affiliated news stations. Sinclair purchased the stations for $31.25 million and the FCC has approved the deal [17]. This is a basic transaction for Sinclair in their pursuit of owning  broadcast platforms in more markets.



Sinclair has taken advantage of its recent success to pursue initiatives that technologically advance the company and continue its dominance over the broadcast industry. One way to increase its footprint in an increasingly digitized world is the ability to broadcast and advertise on mobile platforms and enhance the broadcast experience. ONEMedia is working with all levels of the broadcast industry, from content producers to distributors, to design the “Next Level Broadcast Platform” that integrates mobile devices, creates an Ultra High Definition layout to broadcast, and creates new business models that improve upon the current structure of the industry [18].

Marketron's Logo

Marketron Logo, Sinclair’s newest business partner. (Photo courtesy of [25]

In late November, Sinclair and the leading media software provider Marketron negotiated a multi-year contract for Sinclair’s stations to use Marketron’s location-based mobile advertising. By studying demographics and utilizing mobile networks, Marketron allows advertisers to maximize accuracy and reach. This is a tactical move for Sinclair as it adds revenue streams by attracting potential advertisers to Sinclair’s growing reach [20].

Sinclair was recently part of a Memorandum of Understanding (MOU) with Pearl TV, a partnership of 9 leading broadcast companies, and Samsung Electronics America, the nation’s leader in television sales for the last 9 years [26]. The MOU will sustain technological advances in the industry and look to develop new ways to broadcast premium content to consumers. The three companies will implement the Advanced Television Systems Committee (ATSC) to overlook and advance the technical standards for broadcasting [21].

Image result for samsung logo

SAMSUNG Electronics Logo (photo courtesy of [22]

To more accurately monitor the affect of these technological advancements on consumers, Sinclair signed a new deal with Rentrak, a demographic rating service, on November 11th. Rentrak has already been working with Sinclair on a smaller deal, but will now cover all of Sinclair’s stations. Rentrak will provide Sinclair with accurate qualitative data from large sample sizes that will benefit all of Sinclair’s advertisers [23].

Sinclair is looking to consolidate the growing responsibilities of the company in order to streamline the organization of new assets. On September 10th, Jerry Lilly, a former CNN executive, was named to the new position of Vice President of Operations. He will work closely with the VP of Data Systems and the VP of Engineering to incorporate new workflows into the company and ensure that Sinclair’s TV facilities around the country are equipped with the most up-to-date technology [24].

The buying spree that Sinclair has been on recently has brought it close to the FCC station ownership cap of 39% of TV homes [27]. The company will look to start owning more of its content to create revenue streams, while still upholding its current re-transmisison and affiliate contracts that have put Sinclair at the top of the broadcast industry.


(photos contain URL)

[1] SBG Logo. 

[2] SBG Network Affiliate Logos.

[3] SBG Summary Page.

[4] SBG Company News Release. Sinclair Broadcast Group Announces Agreement to Swap Television Stations With Gray Television,

 [5] SBG Investment Information, (Scroll to investment information).

[6] David D. Smith Photo.*750.jpg?v=1. 

[7] SBG Third Quarter Earnings Call (2015),

[8] SBG Financial Report (2015). Deutsche Bank Leveraged Financial Conference Presentation.

[9] SBG History (2015). 

[10] Julian Sinclair Smith Photo (2015). 

[11] Kuperberg, J. (2015). Sinclair’s American Sports Network to Televise AAC Men’s Basketball Games, Broadcasting & Cable.

[12] American Sports Network Conferences (2015).

[13] Cynopsis Media (2015). Sinclair Hits the Market, Cynopsis,

[14] COMET Network Logo (2015).

[15] American Sports Network Logo (2015). 

[16] SBG News Release (2015). SBG and MGM Announce COMET, First-Ever Science Ficiton Multi-Channel Network, to Premiere October 31st.

[17] McAdams, D. D. (2015). Sinclair to Buy Pappas Stations for $31.25 million, TV Technology,

[18] SBG ONEMedia Information (2015).,

[19] ONEMedia Company Logo (2015). 

[20] Lafayette, J. (2015). Sinclair Signs Exclusive Deal with Marketron, Broadcasting & Cable,

[21] SBG News Release (2015). Samsung, Pearl TV and Sinclair Broadcast Group Announce MOU to Speed Development and Implementation of Next-Gen Broadcast UHDTV Standards.

[22] SAMSUNG Electronics Logo (2015),,

[23] Lafayette, J. (2015). Sinclair Signs New Deal for Data From Rentrak. Broadcasting & Cable. 

[24] SBG Company News Release (2015). Sinclair Names Jerry Lilly To The Newly Created Position Of Vice President Of Operations. 

[25] Marketron Company Logo (2015).

[26] Tendra, J. (2015). Memorandum of Understanding Form. Sample Template.

[27] Halonen, D. (2013). FCC Mulls Hard 39% Cap on TV Ownership. TVNews Check.

Hearst Television

By Apollonia Maldonato
Hearst TV

Photo courtesy of

Hearst Television Inc.

300 W 57th St.

New York, NY, 10019 United States

(212) 887-6800

About Hearst Television Inc. [1]

Hearst Television Inc. is the broadcasting arena of the Hearst Corporation. It is comprised of 29 television stations and two radio stations. Its stations reach as many as 18% of households in the United States spanning over two dozen markets. It is one of the nation’s largest television groups. The company owns several ABC and NBC affiliate stations. They also have two radio stations in Baltimore as well as two CBS affiliate stations. Hearst Television leads the convergence of local broadcast television and the Internet through its partnership with Internet Broadcasting. The company started trading privately in 2009 after becoming privately owned by Hearst Corporation.

Key Executives:

David J. Barrett [2], Chairman and Chief Executive Officer of Hearst Television Inc. began working for Hearst Corporation in 1984 as the general manager of the company’s Baltimore radio stations. He was appointed CEO of the company in 2001. Barrett has received several awards in the industry including being inducted into the Broadcasting & Cable Hall of Fame in 2008 and being named Broadcasting & Cable magazine’s 2004 “Broadcaster of the Year.” jordan wertlieb- HearstJordan Wertlieb [3],  President of Hearst Television, began working for Hearst Corporation 1993 and was named the company’s president in December 2012. He also serves as the President- Chairman of the NBC Affiliate board.Frank Biancuzzo- Hearst

Frank Biancuzzo [4], Senior Vice President of Hearst Television, began working for the company in 1995 when he served as the Vice President of Marketing and Promotion. He later became the President of the Hearst Television ABC station in Milwaukee from 2002 until 2007. He was appointed to be a Senior Vice President in 2007. He also has a role of Hearst Television Group Head.john drain- Hearst

John J. Drain [5], Senior Vice President of Finance, began working at Hearst in 2010 when he was appointed the Senior VP of Finance. Before working for Hearst Television, he was the Vice President of Finance and Administration for the advertising sales division of Comcast Cable Corporation, Comcast Spotlight.

Click for more information on important people at Hearst Television

Competition [6]

Some major industry competitors of Hearst Television are:

  • Sinclair Broadcast Group Inc.
  • Raycom Media Inc.
  • Local TV, LLC

Financials [7]

The last annual report available to the public was published in 2008. During this year the the company had earned $755,738 in revenue. In 2009, Hearst Corporation acquired Hearst- Argyle and it became Hearst Television, a wholly owned component of the company. Since the acquisition, it is no longer a publically traded company and its financial statements are unavailable. However, according to Crain’s New York Business, the company has earned a revenue of almost $10 billion, a $1 billion increase from its 2012 revenue which was slightly more than $9 billion. [8]

Brief History [9]

Hearst argyle

Photo courtesy of

Hearst Corporation was founded in 1928 when it entered the broadcasting world by acquiring WSOE Radio Milwaukee. Since its original acquisition, the company has bought out dozens of other TV and radio stations. Hearst merged with Argyle Television in 1997 to form Hearst- Argyle Television. The company was publicly traded, first on Nasdaq until 1998 and then transferred to the New York Stock Exchange where it was public until 2009 when the company became wholly owned by Hearst Corporation. The name was officially changed to Hearst Television.

Hearst Television’s Current Expenditures:

Hearst Television’s Upward Spiral

cronkie award

Photo courtesy of

Although Hearst Television is not a commonly spoke of company, its role in political coverage through the years has made Hearst Television a staple in news broadcasting. A challenge for the entirety of Hearst Corporation is finding new businesses that can help define the future of Hearst. The company is currently spiraling upwards, and Hearst Corporation CEO, Steven Swartz and Hearst Television CEO, David Barrett, are striving to find new ways to keep the company heading in this direction. The company has won six consecutive Walter Cronkite Awards for its coverage of politics and is the media leader in political coverage. The Hearst Television group has been successful in local advertising as well as solid coverage of elections. [10]

Improving the TV Viewing Experience

An article published by TV Technology on November 7 stated that Hearst Television Inc has fully incorporated Matrix Solutions’s web-based media CRM and sales analytics solution into all of its TV stations. The complete implementation process took a total of ten weeks to complete. According to Al Lustgarten, vice president of IT for Hearst Television, “Hearst Television’s objective was to find a CRM solution with a partner that understands the broadcast business model and could provide software as a service model.” The Matrix system allows access by means of the web or mobile device. It normalizes data saving time in analyzing it. This is extremely useful at a corporate level. [11]

Hearst vs. Aereo: A Copyright Fight


Hearst Television appeared in federal last month in a plea to shut down the internet streaming website startup, Aereo. The federal court denied Hearst’s request and decision could lead to a supreme court case. The website is unlawfully using copyrighted content from WCVB, Hearst Television’s ABC affiliate Boston TV station, for profit. The law suit was originally filed by Hearst in July. The Judge had decided that the compnay did not make its case and the victory went to Aereo. However, other major broadcasters are fighting the same battle with Aereo’s, so-called, unconstitutional practices. [12]

A Visit to UNC Chapel Hill

Just last week, Hearst Televsion CEO, David Barrett and ABC News President, Ben Sherwood  headlined at the Wade H. Hargrove Communications Law and Policy Colloquium at University of North Carolina, Chapel Hill. The two men shared their own remarks on what they believed would be the “Future of Televsion News.” they then engaged in an open discussion with the audience. During his visit, Barrett shared a conversation with Dean Susan King of the UNC School of Journalism and Mass Communication. The two discussed disruptive media in today’s culture as well as the reputation Hearst strives to uphold in society. [13]

Conversation between David Barrett and Dean of UNC Chapel Hill School of Journalism

Support of New Technologies: Investment in Roku

Roku Box- amazon

Photo courtesy of

Roku, an internet set-top box company, had earned $60 million in funding. One of the companies that invested in Roku was Hearst Television. The company sells softball size boxes that allow consumers to stream music and videos. Roku is currently collaborating with consumer-electronics to have merchandise with Roku readily installed.The Senior Managing Director at Hearst, Ken Bronfin, said in a statement about Roku’s product that Hearst is very impressed about the unique position that Roku has constructed in the media market and they anticipate working with them to develop other innovative services for television audiences. CEO of Roku is grateful for the recognition of his brand’s potential success in the market and belief in the Roku platform. Hearst’s, along with other companys’ generous funding was necessary for this product to potentially re-frame future television consumer experiences. [14]

Hearst Ahead of the Times: The Next Generation Newsroom

Hearst Television’s new project, The Next Generaton Newsroom, is giving reporters, photographers, and producers the latest technology so they can update news on all platforms. The state of the arc technology has changed the way the newsrooms operate. Although the consumers do notice the change, they expect it. Brian Bracco, Vice President of News at Hearst Television Inc. states that with all of the new platforms and methods of spreading news, there is no more exciting time than the present to be in the media business. [15]

Watch “The Next Generation Newsroom” Video


Over the years, Hearst Television has developed innovative ways to better the TV viewing experience. The company has earned a renowned reputation due to its outstanding coverage on politics. Hearst continues to strive to be one of the best television companies in this fast paced world. 


[1] About Hearst Televsion

[2] David J. Barrett

[3] Jordan Wertlieb

[4] Frank Biancuzzo

[5] John J. Drain

[6] Competition

[7] Financial Information

[8] More Financials

[9] History of Hearst

[10] Hearst on a role

[11] Implementing Matrix Solutions

[12] Lawsuit with Aereo

[13] A Visit to UNC Chapel Hill

[14] Investment in Roku

[15] Next Generation Newsroom

Sinclair Broadcast Group


This gallery contains 16 photos.

By Zack Phillips Sinclair Broadcast Group, Inc. 10706 Beaver Dam Road Hunt Valley, Maryland 21030 (410) 568-1500 ABOUT THE COMPANY [2]: Sinclair Broadcast Group, Inc. (SBG), founded in 1986, currently owns, operates, programs, or provides sales services to 163 … Continue reading

Hearst Television, Inc.

By Val Wasserstein
hearst logo1

[12] Hearst Television, Inc. logo on their homepage

Hearst Television, Inc.
300 West 57th Street
New York, NY 10019-3789
Tel: (212) 887-6800/Fax: (212) 887-6855

Hearst Corporation: Overview 


[13] Hearst Corporation official logo

Hearst Corporation dates all the way back to 1887 when William Randolph Hearst founded the company as an owner of newspapers. Today, the company’s holdings include a wide variety of media such as newspapers, magazines, television stations, cable networks, business publishing, Internet businesses, and real estate. Hearst prides itself on becoming one of the nation’s largest diversified media and information companies. [1]

Hearst Television: Company Overview

Hearst Television, Inc., wholly owned by Hearst Corporation, holds 29 television stations and 2 radio stations across the United States. This broadcasting company was formerly known as Hearst-Argyle Television, Inc. and later changed its name to Hearst Television, Inc. in June 2009. The company was founded in 1994. The television stations are viewed in approxiately 18% of US homes making Hearst Television, Inc. one of the largest US television station groups. Hearst Television Inc. owns 13 ABC affiliated channels, 10 NBC affiliated channels, and 2 CBS affiliated channels. The company is also known for its integration of local broadcast television and the Internet through its partnership with Internet Broadcasting. Hearst Television Inc. is also a leader in the “application of digital broadcast spectrum for new local informational services.” [2]

Picture 2

[14] Affiliates of Hearst Television, Inc.

Hearst Television Inc. employs approximately 3,000 full-time employees and their major competitors include Sinclair Broadcast Group Inc., Raycom Media Inc., and Local TV, LLC. [3]

Hearst Television station group has won a multitude of awards. The company has been given six consecutive Walter Cronkite Awards (presented by University of Southern California’s Annenberg School for Communication) for their excellence in television political journalism. The stations also have receeived awards for excellence in journalism, programming, and community service (e.g. the Peabody, the duPont-Columbia University Journalism Award, the Sigma Delta Chi Award, the Garbiel, the Ad Council Silver Bell, the National Headliner Award, the Edward R. Murrow Award and the Emmy). [4] 


David J. Barrett-- Chairman & CEO, Hearst Television Inc.

[15] Chairman & CEO, Hearst Television Inc. — David J. Barrett

“The advent of new media platforms is an exciting opportunity for Hearst Television to further advance engagement with local communities. Technology is providing us with new opportunities to reach our viewers, enhance our news-gathering efforts,and provide a broad range of advertising and marketing solutions for our customers.” [5]

 –David J. Barrett, Chairman & CEO, Hearst Television Inc. 

Broadcasting Office
David J. Barrett,
Chairman & CEO of Hearst Television, Inc.
Jordan Wertlieb, President of Hearst Television, Inc.
Frank Biancuzzo,
Senior Vice President of Hearst Television, Inc.
John J. Drain,
Senior Vice President, Finance of Hearst Television, Inc.
Roger Keating,
Senior Vice President of Hearst Television, Inc.


TV Stations
WCVB – Boston, MA – ABC affiliate
WMUR – Manchester, NH – ABC affiliate
WMOR – Tampa-St. Petersburg, FL – NC affiliate
WESH – Orlando, FL – NBC affiliate
WKCF – Orlando, FL – CW affiliate
WTAE – Pittsburgh, PA – ABC affiliate
WBAL – Baltimore, MD – NBC affiliate
WYFF – Greenville-Spartanburg, SC – NBC affiliate
WPBF – West Palm Beach, FL – ABC affiliate
WGAL – Lancaster, PA – NBC affiliate
WXII – Greensboro/Winston-Salem, NC – NBC affiliate
WLKY – Louisville, KY – CBS affiliate
WMTW – Portland-Auburn, ME – ABC affiliate
WPTZ – Burlington, VT – NBC affiliate
WNNE – Plattsburgh, NY – NBC affiliate
KMBC – Kansas City, MO – ABC affiliate
KCWE – Kansas City, MO – CW affiliate
WISN – Milwaukee, WI – ABC affiliate
WLWT – Cincinnati, OH – NBC affiliate
KOCO – Oklahoma City, OK – ABC affiliate
WDSU – New Orleans, LA – NBC affiliate
KCCI – Des Moines, IA – CBS affiliate
KETV – Omaha, NE – ABC affiliate
WAPT – Jackson, MS – ABC affiliate
KHBS – Fort Smith, AR – ABC affiliate
KHOG – Fayettville, AR – ABC affiliate
KCRA – Sacramento/Stockton/Modesto, CA – NBC affiliate
KQCA – Sacramento/Stockton/Modesto, CA – MNT affiliate
KOAT – Albuquerque, NM – ABC affiliate
KITV – Honolulu, HI – ABC affiliate
KSBW – Monterey-Salinas, CA – NBC affiliate

WBAL 1090 – Baltimore, MD
WIYY 97.9 – Baltimore MD [6]


On June 3, 2009 the Hearst Corporation acquired outstanding shares of Series A Common Stock of Hearst-Argyle that it did not already own. Since August 5, 2009, Hearst Television Inc., once the company merged to be a wholly-owned subsidiary of Hearst, stopped filing and sharing periodic and annual reports to the public making it no longer a SEC reporting company. [7]

In Recent News

On December 6, 2012 Hearst Corporation announced new executive leadership positions. David J. Barrett would be the new chairman and CEO of Hearst Television and Jordan Wertlieb would become president. All changes were effective immediately. [8]

In Hearst Corporation CEO Frank A. Bennack Jr.’s 2012 Annual Review letter, he emphasized how much the year brought on “tremendous growth for Hearst Television’s on-air and digital revenues.” It was reported that eighty percent of Hearst Television Inc.’s newscasts hold first or second place rankings. [9]


[16] Hearst Television Inc.’s 2012 Annual Review Letter

The election year of 2012 also helped the company with stations in key primary and swing states, redesigned websites and the new Election 2012 app. The app allowed for consumers to access “up-to-the-minute and in-depth election-related national content as well as content from the company’s news stations in 25 markets stretching from Portland, Maine to Honolulu.” [10]


[17] Election 2012 app for iPhones & smartphones

On April 3, 2013 Hearst Television Inc. announced the renewal of its alliance with PolitiFact, the fact checking website of the Tampa Bay Times. “In one recurring feature of the exclusive partnership, Hearst Television’s Washington, D.C., Bureau produced segments on PolitiFact’s fact-checking about the presidential campaign using the website’s much-discussed ‘Truth-O-Meter‘.” [11] 


[18] PolitiFact logo


[1] Hearst Corporation 

[2] Hearst Television: About Our Company

[3] Hoovers Company Profile: Hearst Television Inc. 

[4] Hearst Television: About Our Company

[5] Hearst Corporation: Hearst Television, Inc. 

[6] Hearst Television Inc.: Our Stations

[7] Hearst Television: Annual Reports 

[8] Hearst Television, Inc. – Press Release

[9] Hearst 2012 Annual Review 

[10] Hearst Television, Inc. – Press Release

[11] Hearst TV and PolitiFact Renew Alliance

[12] Hearst Television Image

[13] Hearst Corporation Image

[14] Hearst Television: About Our Company Image

[15] David J. Barrett Image

[16] Hearst Corporation 2012 Annual Review Image 

[17] Election 2012 App Image

[18] PolitiFact Image

Sinclair Broadcast Group

S. Catherine McCabe

Sinclair Broadcasting Group

– Image courtesy of


The Sinclair Broadcast Group, Inc., based in Baltimore, Maryland, is a diverse television broadcasting company, which owns and operates over one hundred stations in over sixty markets around the country. It also provides programming and sales services for its stations under local market agreements (LMA), a concept that was pioneered by SBG in the 1990s. It reaches almost 30% of households in the United States and is one of the biggest broadcasting groups in the country. [1]


The Sinclair Broadcast Group, Inc., was founded in 1986 by the four sons of Julian Sinclair Smith, a pioneer in ultra high frequency (UHF) television broadcasting. Julian Smith started the company as the Chesapeake Television Corporation in 1971; under which name Sinclair broadcasted one of the first UHF stations in the country from their flagship station WBFF-TV. UHF broadcasting immediately became a major part in the television industry and started to become more involved with their father’s company in the 1980s.

Julian Smith’s sons began acquiring other UHF stations and quickly saw the Chesapeake Television Corporation become a major consolidator in the industry. The name was changed to the Sinclair Broadcast Group in 1985. In 1990 the Smith brothers bought the remaining shares of SBG, owned by their parents, and immediately began acquiring more stations. It was not long before SBG became one of the largest media distributers in the country. [2]

– Image courtesy of

Smith Brothers

 David D. Smith

David D. Smith is currently serving as the President and Chief Executive Officer of the Sinclair Broadcast Group and has held the position since 1988. He was a major part it’s founding in 1986 and has help a position on the Board of Directors since. Before Sinclair, Smith was an officer and director at Comark Communications, a manufacturer of high power transmitters for UHF television companies, which he founded. [3]

Frederick G. Smith

Dr. Frederick G. Smith was an oral and maxillofacial surgeon before coming to Sinclair as the Vice President. He took that position in 1990 and has served on the Board of Directors since 1986. Dr. Smith also serves as a director or trustee of Sinclair Ventures, Inc., the Freven Foundation, Gerstell Academy, University of Maryland at Baltimore Foundation, St. Joseph’s Hospital, The Sinclair Relief Fund, Bay Television Inc., Cunningham Communications Inc., Gerstell Development, LP, Keyser Investment Group, Inc. and Beaver Dam, LLC. [3]

J. Duncan Smith

J. Duncan Smith who started off building and operating television stations in Pittsburgh, PA; Columbus, OH; Bloomington, IN; and multiple cities in Florida, now serves as the Vice President, Secretary and a Director of Sinclair. He has been with Sinclair since it’s founding  in 1986. Before Sinclair, Duncan also worked with David at Comark Communications. [3]

Robert E. Smith

Robert E. Smith served as the Vice President and Treasurer of Sinclair from 1988 to 1998. he later resigned from this position to shift focus to a commercial real estate investment firm which he started. He still holds a position on the Board of Directors which he has held since 1986.  Before Sinclair, Robert also worked at Comark Communications with his brothers. [3]


-Image courtesy of

Sinclair has stations in over sixty markets across the country and they have agreements with 8 different networks. These include 27 FOX, 20 MyTV, 20 CW, 17 ABC, 15 CBS, 11 NBC, 1 Azteca and 1 Independent affiliate. [4]


In the past Sinclair has made very strategic investments over a variety of different industries. They currently hold interest in over five different companies. These include: [5]

  • Sterling Venture Partners a private equity firm that invests $5 million to $100 million in early-stage and expansion-stage health care, software, education, industrial technology and business services companies.

    -Image courtesy of

  • Allegiance Capital a private mezzanine venture capital fund, which invests in the subordinated debt and equity of privately held companies.

    -Image courtesy of

  • Patriot Capital provides structured debt and mezzanine financing to small businesses.

    -Image courtesy of

  • Ring of Honor wrestling programing known for its athleticism and professional wrestling.

    -Image courtesy of

  • Triangle Sign and Service private company that fabricates, installs and services commercial signs across the country.

    – Image courtesy of

  • Alarm Funding Associates security funding and acquisition company helping full service alarm operating companies.

    – Image courtesy of

    Bay Creek a planned community on almost 1,800 acres surrounding Cape Charles.


    -Image courtesy of

In Recent News

       On May 21st, 2011 Sinclair announced the acquisition of the “Ring of Honor” wrestling franchise. It is the third largest wrestling promotion in the country. Sinclair believes their backing and the power of the relationship between television and wrestling will allow ROH to become a household brand. It will premiere on Sinclair’s vast network of stations, as well as access for people outside of their markets online. ROH will be led by Chief Operating Officer, Joe Koff who was previously the director of sales at Sinclair Broadcasting Group. [6]

On September 8th, 2011 it was announced that Sinclair would be purchasing Four Points Media group for $200 million from affiliates of Cerberus Capital Management, L.P. In this deal they acquired seven different stations from five extremely strong markets in Salt Lake City, West Palm Beach Austin, Texas and Providence, Rhode Island. The acquisition was finalized in January 2012 when they finally received approval from the FCC. [7] [8]

         On November 2nd, 2011 Sinclair purchased the broadcast assets of Freedom Communications for $385 million. Freedom Communications reaches over 2% of households over seven different markets. The FCC granted them approval for this deal on March 13, 2012 even though Sinclair had already been managing all of Freedom Communications’ stations since December of 2011. [9]

         On February 28th, 2013, Sinclair acquired 24 stations from Barrington Broadcasting Group, LLC. for $370 million. Sinclair will buy 18 of the 24 stations and then will operate and provide sales services for the other 6 stations. They are currently waiting on approval of the FCC and antitrust clearance. However, due to FCC rules, Sinclair has chosen to sell it’s FOX affiliate in Syracuse, NY. They will then purchase a MNT affiliate in Syracuse under a local marketing agreement. Sinclair also announced the purchase certain COX Media stations. They are predicting the combination of these two deals will result in about $232 million of increased equity and $2.85 per share. [10]

Sinclair Broadcast Group has a history of struggling to come to retransmission agreements with the different cable providers. In the past they have had issues with both Time Warner Cable and Comcast and most recently they have finished negotiations with Dish Network and DirecTV. During their negotiations with the Dish Network, Sinclair threatened to black out over seventy channels if they did not come to an agreement by August 13, 2012. Dish Network claimed that Sinclair was charging more than any other broadcaster to carry their channels and Sinclair had doubts of whether or not they would be able to come to an agreement. They did not reach an agreement until August 16, 2012, but fortunately there was no lost signal during the extension. Similar circumstances surrounded their retransmission agreement with DirecTV, however they were able to come to an agreement just hours before 87 channels were due to go black. This deal was made on February 28, 2013.  [11] [12]



[1] SBG Company Profile

[2] SBG History

[3] SBG Directors

[4] SBG Affiliates

[5] SBG Investments

[6] SBG News Release- Ring of Honor Acquired

[7] TV News Check- Four Points Media Acquisition

[8] TV News Check-Four Points Media Acquisition

[9] SBG News Release- Freedom Communications acquisition

[10] SBG News Release- Barrington Broadcast Acquisition

[11] The Daily News- Sinclair TV Blackout

[12] TV News Check- Sinclair and DirecTV deal

Sinclair Broadcast Group

by Steven Geer

Logo courtesy of

Headquarters – 10706 Beaver Dam Road, Hunt Valley, Maryland 21030

Telephone  (410)-568-1500

Social Media – LinkedInFacebook, Twitter (@sbgi)

Brief History

David B. Smith, President & CEO – Photo courtesy of Nicholas Griner, Baltimore Business Journal

Sinclair Broadcasting Group is a telecommunications company located in Hunt Valley, Maryland, USA. Founded as Chesapeake Television Corporation in 1971 by Julian Sinclair Smith, its station ownership started in Balitmore (WBFF), Pittsburgh (WPTT/WPMY) and Columbus (WTTE). In 1985, the remaining stocks of the business were bought out by Smith’s four sons and its name was changed to Sinclair Broadcast Group.

Since 1988, David B. Smith has served as President & CEO while the remaining brothers hold executive positions as well. Their leadership brought the company to a new level, expanding both its audience reach and content variety. In 1995, the company became publicly traded on NASDAQ with the symbol SBGI [1][2].

Sinclair Broadcasting was a pioneer of local marketing agreements in the early 1990’s. Though many stations are owned and operated by Sinclair, others are affiliated through LMA’s. Sinclair’s stations are affiliated with major networks like Fox, NBC, CBS, and ABC. Also, this company was one of the first to experiment with “prepackaged” news programs, produced by the news organization, News Central [3].

Sinclair has a diverse array of holdings outside telecommunications as well. Ring of Honor Wrestling is just one of their many subsidiaries. They air the content they produce in certain markets and upload some episodes to YouTube.

Here is Ring Of Honor Episode 54 from October 11, 2012:

Recent Acquisitions and News

A buying spree in 2011 and early 2012 added the assets of Four Points Media Group, the Freedom Communications stations group, and six stations from Newport Television [4][5][6]. Sinclair Broadcast Group now operates the largest number of local television stations in the United States.

Their most recent acquisitions closed December 1, 2012  and include stations in new and previously established markets. In addition to increasing the audience reach of Sinclair 3%, these purchases also increased the number of affiliated stations in Sinclair’s portfolio. Some of the stations now owned by Sinclair are WTTA (MNT) Tampa, KBTV (FOX) Beaumont, WKRC (CBS) Cincinnati, WOAI (NBC) San Antonio, WHP (CBS) Harrisburg, WPMI (NBC) and WJTC (IND) Mobile, KSAS (FOX) Wichita, and WHAM (ABC) Rochester.

See all of Sinclair’s holdings and their information here.

Sinclair’s Markets – Map courtesy of Sinclair Broadcast Group

The failure of New Central and Sinclair’s profile as a “profit first, journalism second” broadcaster prompted the company to shift its focus to quality news in local markets. Sinclair’s recent acquisitions included many local news stations, atypical purchases for the company, but smart because of their powerful local presence. Sinclair has even joined the National Association of Broadcasters, a sign that they’re willingness to participate in Washington alongside competitors [7].

Hurricane Sandy had a large impact on many viewers in Sinclair’s markets, creating an opportunity for the company to serve its local constituents. During the storm, Sinclair provided non-stop coverage by “simulcasting” the news programs online. This allowed those without power to access it using mobiles phones and tablets. Online streaming and other technology platforms are being considered at Sinclair Group. Chief tech executive Del Parks spoke for the company claiming that the multiscreen experience is, “a very personal thing for our news operations.” Simulcasting was also used this fall in local office campaigns within certain Sinclair markets by streaming town hall debates on their website [8].

On November 13, 2012 it was announced that Sinclair Broadcasting would be partnering with Datasphere, a technology company aimed at small business solutions in major media and reaching the hyperlocal market. Sinclair’s television station websites will be retrofitted with Datasphere’s event calendars for local event lists in each market. An example of this calendar can be seen on WBFF Baltimore’s event website. This will be used alongside a whole new technology platform at Sinclair Group. It is a full-sized service that connects local small businesses to media companies for advertising needs. Datasphere’s services will be introduced into 21 markets including Austin, Baltimore, Columbus, Dayton, Nashville and San Antonio [9].

Sinclair attends many industry conferences. Their next conference is the JP Morgan Global HYLFC in Miami Beach, February 25-27, 2013.

Financial Overview

Sinclair’s income statement for December 2, 2012 shows the stock price settling at $11.03; this is still low compared to their period of $14.00+ shares back in 2003-2004. This company has battled through the economic recession, however, showing staggering growth in returns over a three year period. In fact, they’ve quadrupled the 3 year return percentage of their competitor Belo Corporation from 2009 to 2012 [10].

SBGI Total Returns Comparison

Chart courtesy of

Three year returns are a significant figure for a long-term shareholder of this company. High returns indicate a growing business. Sinclair has rebounded from the recession and continues to show steady growth.

High third quarter revenues this year were reported following Hurricane Sandy’s aftermath. The 44% increase from $181 million to $260 million was attributed to political advertising associated with the campaign season and a spike in automotive advertising on Sinclair’s stations. After reaching retransmission agreements with networks like Comcast and Dish, Sinclair found that higher retransmissions revenues also contributed to the figure [11][12].

Hear or watch the rebroadcast of the 3rd quarter 2012 earnings results here.

Sinclair’s financial calendar is as follows:

  • February 6, 2013 – Fourth Quarter 2012 Earnings Report
  • May 1, 2013 – First Quarter 2013 Earnings Report
  • June 16, 2013 – Annual Shareholders Meeting
  • August 7, 2013 – Second Quarter 2013 Earnings Report
  • November 6, 2013 – Third Quarter 2013 Earnings Report


Sinclair Broadcasting, though successful and respected in the industry, is not immune to scrutiny by its competition and the public eye. The company is known for blatantly taking sides on social and political issues including political campaigns. A conservative bias can be noticed in the programming Sinclair chooses to air around election time. Even so, they deny any partisanship and claim to only be informing and engaging the public.

Photo courtesy of

The 2012 Presidential Campaign was another opportunity for Sinclair to garner the profits of political advertising at the cost of their audience’s scheduled news programming. The decision to preempt regular programs in order to air the “ABC 6 Election Special – VOTE 2012” didn’t sit well with supporters of Obama [13]. The special was aired in markets all located in battleground states.

A writer for The Baltimore Sun wrote in an article that, “the only thing that was lower than the attack-ad-dominated style of campaigning by both sides was the performance of an increasingly superficial and partisan press,” [14][15]. Sinclair has since rejected the criticism, claiming that the specials were focused on the issues and not so much the candidates, and that the markets where they were aired had more “news value.” [16]

Watch a recap of the election special here.

In a dispute with Dish Network this past August, Sinclair was ready to black out 74 of its stations carried by Dish when they wouldn’t accept a new retransmission agreement. A public exchange of words between the two companies resulted in high tensions and little motivation for Sinclair to bargain with the distributor. Dish claimed that Sinclair was charging more than any other broadcaster, resulting in higher subscription fees for customers. Sinclair, however, views retransmission fees as an important resource for the company. A multi-year consent agreement was finally reached after several weeks. Sinclair has become increasingly aggressive towards television providers and retransmission fees. Similar disputes between Mediacom, Time Warner, and Comcast all ended with agreements favoring Sinclair [17].























Sinclair Broadcast Group

by [Taylor Van Sickle]


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.


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



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.


Media General, Inc.

Hearst Television Inc.

Local TV, LCC


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]. 


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]

With their newly obtained stations Sinclair Broadcast Group, Inc. plans to keep expanding their hold on television broadcasting. The company is well versed in the television broadcasting business and they understand what they need to do to stay successful. Their revenue numbers show increased success throughout the fourth quarter. The company’s stock from the last month has decreased but over the course of this year it has stayed steadily in the same region. Sinclair Broadcast Group, Inc. has been a strong company since its humble beginning as one station in Maryland. There is no doubt that Sinclair Broadcast Group will continue to be a major player in the television broadcasting spectrum.


1. Google:

2. Sinclair Broadcast Group Website:

3. Sinclair Broadcast Group Website (Company Profile):

4. Sinclair Broadcast Group Website (History):

5. Sinclair Broadcast Group Website (News Releases):

5.1 Sinclair Broadcast Group Website (News Releases):

5.2 Sinclair Broadcast Group Website (News Releases):

5.3 Sinclair Broadcast Group Website (News Releases):

6. Hoovers:


8. Bloomberg:

9. Bloomberg:

10. New York Times:

11. New York Times:

12. Bloomberg: