Sinclair explores selling roughly 30% of its broadcast stations, sources say

[BumRushDaShow]

Source: NBC News/CNBC

May 9, 2024, 5:04 PM EDT


Sinclair, one of the largest owners of broadcast stations in the U.S., is looking to sell more than 30% of its footprint, according to people familiar with the matter.

The company has hired Moelis as its investment banker and has identified more than 60 stations in various regions of the U.S. that it would be willing to sell, said the people, who asked not to be named because the discussions are private. Sinclair owns or operates 185 TV stations in 86 markets.

The stations are a mix of affiliates including Fox, NBC, ABC, CBS and the CW. If sold together, their average revenue for 2023 and 2024 is an estimated $1.56 billion, the people said. Sinclair is willing to sell all or some of the stations, which are in top markets like Minneapolis; Portland, Ore.; Pittsburgh; Austin, Texas and Fresno, Calif., among others.

Sinclair CEO Chris Ripley said Wednesday that the company is open to offloading parts of its business, without providing specifics.

Read more: https://www.nbcnews.com/business/business-news/sinclair-explores-selling-roughly-30-percent-broadcast-stations-rcna151572

[Marthe48]

1. Be nice if politically neutral people bought the stations

and then leaned the output left

[OAITW r.2.0]

2. Why? I'll bet they see the future of broadcast radio. And it won't include radio stations.

I'm 71 and I blue-tooth my phone to listen to what I want to hear. Could be any music that I like....or podcasts. I'm betting that 20 somethings and every age group later, are doing the same thing.

[Doc Sportello]

3. TV stations, not radio n/t

[OAITW r.2.0]

5. OK, my bad.

My point was radio stations,,,,,I think they are will become audio dinosaurs.

[BumRushDaShow]

9. If you search around DU, you'll find there were a bunch of OPs about the evils of Sinclair under 45

and how they essentially made their locally-owned stations' anchors read the same prepared scripts, etc. - https://democraticunderground.com/100210439997

Related - https://deadspin.com/how-americas-largest-local-tv-owner-turned-its-news-anc-1824233490

[Evolve Dammit]

4. Rushbo dying may have caused a ratings slump? Or was he on a different network?

[LiberalFighter]

6. I would prefer they were locally owned.

[HandmaidsTaleUntold]

7. 🎉🎉🎉

Eff those scumbags. Their stations hire 20 years only and never cover anything local and always right wing agenda

[reACTIONary]

8. we should all get together, buy one of the stations, and start the...

... Democratic Underground Broadcast Network! or maybe

[pecosbob]

10. Open Society Foundations (Alex Soros) has been buying a lot of radio stations recently...

https://finance.yahoo.com/news/george-soros-fund-tightens-grip-175358883.html

The reins of Open Society Foundations — which funnels about $1.5 billion a year to liberal causes — were recently handed to Soros’ youngest son, Alex, a 38-year-old NYU grad who said he was picked partially because he is even “more political” than his elderly dad.

https://www.nbcnews.com/business/business-news/sinclair-explores-selling-roughly-30-percent-broadcast-stations-rcna151572

Sinclair has lost more than 70% of its market value in the last five years. The company’s market capitalization is about $975 million with an enterprise value of about $4.7 billion.

They cornered the market in local television and pandered right-wing propaganda along with the weather. Then people quit watching cable TV. So sad...would love to see Sinclair Broadcast Group go away.

[oldmanlynn]

11. Need a wealthy democrat to purchase these

Then we can start the deprogramming of the MAGA

[Aussie105]

12. Those stations are worthless.

They have attracted a certain audience and with MAGAt type thinking on the wane, those stations would need to find a different audience to be financially viable.
They won't be able to do it.

Sinclair is trying to sell a product they know will be worthless soon.
Or at best, a money pit.

[oasis]

13. Go broke. Reduce poison.

[Mr. Sparkle]

14. Sinclair must be in trouble if they are willing to sell some of their asets.

Good

[bigmonk]

15. Left leaning

I think the list of cities are ones that tend to be more liberal. Maybe they don't have an audience in those towns.

[BumRushDaShow]

17. They were trying to indoctrinate them

by force, and by extreme use of propaganda. I posted these links upthread -

- https://democraticunderground.com/100210439997

- https://deadspin.com/how-americas-largest-local-tv-owner-turned-its-news-anc-1824233490

I'll add another I just found - https://thinkprogress.org/sinclair-forces-reporters-to-read-script-about-fake-news-63ae6fcea30e/

(the 2nd link above has a video of Deadspin's compilation of "the script" )

[Seinan Sensei]

16. The old Sinclair gas-stations used to have a Dinosaur logo

That would be appropriate

[nuxvomica]

18. Hopefully that includes WRGB in the Albany-Schenectady-Troy market

Our local CBS affiliate that airs Sinclair's propaganda.

[Midnight Writer]

19. Our long-time local newscaster got fired for refusing to read Sinclair's RW propaganda on the air.

[mahina]

20. Good for him! Or her!

Could you share the name? I think that is a story of courage and I would love to read more about it. You can DM me if you don’t want to post publicly.
Thank you!
(If you dont care to, it’s ok.)
Aloha kaua

[Midnight Writer]

21. Had to go search for it. Joe Crain, WCIS-20, Springfield, IL.

Actually the weatherman for 15 years, removed after a two minute unauthorized live segment he did criticizing Sinclair after they bought his station.

[mahina]

22. Thank you and Joe Crain

!