Sinclair broadcast group, inc. private company information – bloomberg gas station in spanish

Sinclair Broadcast Group, Inc. operates as a television broadcasting company in the United States. It owns or provides various programming, operating, or sales services to television stations. The company broadcasts free over-the-air programming, such as network provided programs, locally-produced news, local sporting events, programming from program service arrangements, syndicated entertainment programs, and internally originated programming to television viewing audiences in the communities through its local television stations. As of December 31, 2017, it owned, operated, and/or provided services to 191 stations in 89 markets, which broadcast 601 channels. The company also owns and opera…

Sinclair Broadcast Group, Inc. operates as a television broadcasting company in the United States. It owns or provides various programming, operating, or sales services to television stations. The company broadcasts free over-the-air programming, such as network provided programs, locally-produced news, local sporting events, programming from program service arrangements, syndicated entertainment programs, and internally originated programming to television viewing audiences in the communities through its local television stations. As of December 31, 2017, it owned, operated, and/or provided services to 191 stations in 89 markets, which broadcast 601 channels. The company also owns and operates various networks carried on distribution platforms; and Tennis Channel, a cable network that includes coverage of various tennis’ top tournaments and original professional sport, and tennis lifestyle shows. In addition, it offers digital agency services; and broadcast related technical services to the broadcast industry, as well as designs and manufactures broadcast systems, including transmitters and antennas. In addition, it provides sign design and fabrication services; and invests in various real estate ventures, including developmental land, and operating commercial and multi-family residential real estate properties and apartments, as well as private equity and structured debt/mezzanine financing investment funds. The company was founded in 1986 and is headquartered in Hunt Valley, Maryland.

Sinclair Broadcast Group, Inc. reported unaudited consolidated financial results for the first quarter ended March 31, 2018. For the quarter, total revenues increased 6.1% to $665.354 million, versus $626.936 million in the prior year period. Operating income was $107.314 million, including a gain of $5 million of one-time transaction costs, versus operating income of $157.629 million in the prior year period, which included $53 million of gains on asset dispositions. Included in operating income is $21 million of gains on asset dispositions, which includes an $83 million cash gain relating to the previously announced sale of spectrum in Milwaukee, which was sold pursuant to the National Broadband Plan, partially offset by a non-cash impairment charge of a non-media related real estate investment. Net income attributable to the company was $43.123 million, against net income of $57.202 million in the prior year period. Diluted earnings per common share were $0.42 as compared to $0.61 in the prior year period. Capital expenditures in the first quarter of 2018 were $19 million with another $3 million related to the spectrum repack. Income before income taxes was $28,366,000 compared to $99,282,000 a year ago. Net income was $43,994,000 compared to $70,703,000 a year ago.

The company provided earnings guidance for the second quarter and for the year of 2018. For second quarter, the company is expecting media revenues to be approximately $684.3 million to $688.4 million, up 7.5% to 8.1% year-over-year. This includes $18 million to $19 million in political revenues as compared to $5 million in the second quarter of 2017 and $318 million of distribution revenues as compared to $279 million in the second quarter of 2017. Net cash taxes paid are expected to be approximately $5 million. Total capital expenditures are expected to be approximately $49 million, of which $16 million relates to the spectrum repack and is expected to be reimbursed by the government. Net interest expense is expected to be approximately $85 million. EBITDA in the second quarter adjusted for $4 million in one-time transaction cost is expected to be approximately $173 million to $176 million versus as reported second quarter 2017 EBITDA of $197 million and $207 million pro forma. The decline is primarily related to timing of ONE Media expenses. Free cash flow in the second quarter, adjusted for one-time costs, is expected to be approximately $86 million to $92 million, 25% to 30% higher than last year pro forma second quarter. Depreciation on property and equipment is expected to be approximately $24 million. Amortization of acquired intangibles is expected to be approximately $43 million.

For 2018, net interest expense is expected to be approximately $250 million. The company’s effective tax rate is expected to be a benefit of approximately low single digit % rate with cash taxes estimated to be $20 million. Total capital expenditures are expected to be approximately $180 million, which includes approximately $65 million related to the spectrum repack which is expected to be reimbursed by the government. EBITDA remains unchanged, and timing of net distribution fees and political revenues which are weighted to the back half of the year. 2017, 2018 pro forma combined free cash flow is estimated at $1 billion to $1,030,000,000. Depreciation on property and equipment is expected to be approximately $102 million. Amortization of acquired intangibles is expected to be approximately $172 million.

Gaian Solutions, Sinclair Broadcast Group and its subsidiary ONE Media 3.0, LLC signed a memorandum of understanding to work together to create a Next Generation Broadcast Platform (NGBP) to support Sinclair’s ATSC 3.0 vision and plan to deploy a proof of concept before the end of the year. NGBP will deliver UHD-quality content, customized IP-based interactive services, personalized and location-based advertising, fixed and mobile broadcast service and emergency alerting. At NAB 2018, Sinclair and Gaian will showcase a suite of new ATSC 3.0 based services including Ad Exchange, Dynamic Ad Insertion (DAI)-Server-side and DAI-Client-side; Data Mining and Analytics; Cloud Playout; Broadcast Localization; Interactive Sports Experience; Social Messaging Stream; and Automotive In-Dash experience. Sinclair and Gaian Solutions envision expanding use of the platform to the rest of the world as Next Gen TV hybrid OTA-OTT network deployments sweep the globe. Gaian Solutions ultimately expects to be able to help in expanding the global ecosystem for next-generation broadcasting using its cloud and advertising innovations.