Welcome to DU! The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards. Join the community: Create a free account Support DU (and get rid of ads!): Become a Star Member Latest Breaking News General Discussion The DU Lounge All Forums Issue Forums Culture Forums Alliance Forums Region Forums Support Forums Help & Search

BumRushDaShow

(130,363 posts)
Thu May 9, 2024, 08:04 PM May 9

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

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

22 replies = new reply since forum marked as read
Highlight: NoneDon't highlight anything 5 newestHighlight 5 most recent replies
Sinclair explores selling roughly 30% of its broadcast stations, sources say (Original Post) BumRushDaShow May 9 OP
Be nice if politically neutral people bought the stations Marthe48 May 9 #1
Why? I'll bet they see the future of broadcast radio. And it won't include radio stations. OAITW r.2.0 May 9 #2
TV stations, not radio n/t Doc Sportello May 9 #3
OK, my bad. OAITW r.2.0 May 9 #5
If you search around DU, you'll find there were a bunch of OPs about the evils of Sinclair under 45 BumRushDaShow May 9 #9
Rushbo dying may have caused a ratings slump? Or was he on a different network? Evolve Dammit May 9 #4
I would prefer they were locally owned. LiberalFighter May 9 #6
🎉🎉🎉 HandmaidsTaleUntold May 9 #7
we should all get together, buy one of the stations, and start the... reACTIONary May 9 #8
Open Society Foundations (Alex Soros) has been buying a lot of radio stations recently... pecosbob May 9 #10
Need a wealthy democrat to purchase these oldmanlynn May 10 #11
Those stations are worthless. Aussie105 May 10 #12
Go broke. Reduce poison. oasis May 10 #13
Sinclair must be in trouble if they are willing to sell some of their asets. Mr. Sparkle May 10 #14
Left leaning bigmonk May 10 #15
They were trying to indoctrinate them BumRushDaShow May 10 #17
The old Sinclair gas-stations used to have a Dinosaur logo Seinan Sensei May 10 #16
Hopefully that includes WRGB in the Albany-Schenectady-Troy market nuxvomica May 10 #18
Our long-time local newscaster got fired for refusing to read Sinclair's RW propaganda on the air. Midnight Writer May 10 #19
Good for him! Or her! mahina May 10 #20
Had to go search for it. Joe Crain, WCIS-20, Springfield, IL. Midnight Writer May 11 #21
Thank you and Joe Crain mahina May 11 #22

OAITW r.2.0

(24,891 posts)
2. Why? I'll bet they see the future of broadcast radio. And it won't include radio stations.
Thu May 9, 2024, 08:19 PM
May 9

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.

BumRushDaShow

(130,363 posts)
9. If you search around DU, you'll find there were a bunch of OPs about the evils of Sinclair under 45
Thu May 9, 2024, 09:19 PM
May 9

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

7. 🎉🎉🎉
Thu May 9, 2024, 09:02 PM
May 9

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

reACTIONary

(5,801 posts)
8. we should all get together, buy one of the stations, and start the...
Thu May 9, 2024, 09:14 PM
May 9

... Democratic Underground Broadcast Network! or maybe

pecosbob

(7,555 posts)
10. Open Society Foundations (Alex Soros) has been buying a lot of radio stations recently...
Thu May 9, 2024, 10:10 PM
May 9
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.

Aussie105

(5,530 posts)
12. Those stations are worthless.
Fri May 10, 2024, 05:14 AM
May 10

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.

bigmonk

(58 posts)
15. Left leaning
Fri May 10, 2024, 08:01 AM
May 10

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

nuxvomica

(12,486 posts)
18. Hopefully that includes WRGB in the Albany-Schenectady-Troy market
Fri May 10, 2024, 09:17 AM
May 10

Our local CBS affiliate that airs Sinclair's propaganda.

mahina

(17,797 posts)
20. Good for him! Or her!
Fri May 10, 2024, 04:33 PM
May 10

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

(21,919 posts)
21. Had to go search for it. Joe Crain, WCIS-20, Springfield, IL.
Sat May 11, 2024, 08:27 AM
May 11

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

Kick in to the DU tip jar?

This week we're running a special pop-up mini fund drive. From Monday through Friday we're going ad-free for all registered members, and we're asking you to kick in to the DU tip jar to support the site and keep us financially healthy.

As a bonus, making a contribution will allow you to leave kudos for another DU member, and at the end of the week we'll recognize the DUers who you think make this community great.

Tell me more...

Latest Discussions»Latest Breaking News»Sinclair explores selling...