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
Marthe48
(17,179 posts)and then leaned the output left
OAITW r.2.0
(24,891 posts)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
(7,560 posts)OAITW r.2.0
(24,891 posts)My point was radio stations,,,,,I think they are will become audio dinosaurs.
BumRushDaShow
(130,363 posts)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
(16,865 posts)LiberalFighter
(51,500 posts)HandmaidsTaleUntold
(270 posts)Eff those scumbags. Their stations hire 20 years only and never cover anything local and always right wing agenda
reACTIONary
(5,801 posts)... Democratic Underground Broadcast Network! or maybe
pecosbob
(7,555 posts)https://www.nbcnews.com/business/business-news/sinclair-explores-selling-roughly-30-percent-broadcast-stations-rcna151572
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
(116 posts)Then we can start the deprogramming of the MAGA
Aussie105
(5,530 posts)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
(49,543 posts)Mr. Sparkle
(2,966 posts)Good
bigmonk
(58 posts)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
(130,363 posts)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
(378 posts)That would be appropriate
nuxvomica
(12,486 posts)Our local CBS affiliate that airs Sinclair's propaganda.
Midnight Writer
(21,919 posts)mahina
(17,797 posts)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 dont want to post publicly.
Thank you!
(If you dont care to, its ok.)
Aloha kaua
Midnight Writer
(21,919 posts)Actually the weatherman for 15 years, removed after a two minute unauthorized live segment he did criticizing Sinclair after they bought his station.
mahina
(17,797 posts)!
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