Sinclair, Inc. Increases Third Quarter and Full-Year 2024 Political Revenue Expectations; Reiterates Prior Net Retrans Forecast
2024年9月20日 - 5:15AM
ビジネスワイヤ(英語)
Sinclair, Inc. (Nasdaq: SBGI), the "Company," today announced
that it is increasing its advertising guidance for the third
quarter 2024 to account for stronger-than-expected political
revenues. The Company’s updated expectation for third quarter
political advertising revenue is approximately $140 million to $145
million, up from the previously announced forecast range of $113
million to $128 million. Expectations for Local Media segment third
quarter core advertising revenue are $285 million to $293 million,
with the midpoint down slightly compared to the previously
announced forecast range of $288 million to $300 million, due to
crowd-out from the increased political advertising. The updated
expectation represents Local Media segment core advertising growth
of 2% to 4% year-over-year. In total, the Company now anticipates
Local Media advertising revenue during the third quarter to be
within a range of $425 million to $438 million, up from the
expectation of a range of $401 million to $428 million, as
previously provided on August 7, 2024.
The Company’s updated full-year political revenue expectation is
now $442 million to $469 million, up from the previously-disclosed
forecast range of $385 million to $410 million.
Recent retransmission agreement renewal activity has been
in-line with expectations and the Company is reaffirming its
previously provided 2-year compounded annualized mid-single digit
percent growth rate for net retrans from 2023 through 2025.
The Company will provide financial and operating results for the
third quarter 2024 on Wednesday, November 6, 2024.
Forward-Looking
Statements:
The matters discussed in this news release, particularly those
in the section labeled “Outlook,” include forward-looking
statements regarding, among other things, future operating results.
When used in this news release, the words “outlook,” “intends to,”
“believes,” “anticipates,” “expects,” “achieves,” “estimates,” and
similar expressions are intended to identify forward-looking
statements. Such statements are subject to a number of risks and
uncertainties. Actual results in the future could differ materially
and adversely from those described in the forward-looking
statements as a result of various important factors, including and
in addition to the assumptions set forth therein, but not limited
to, the rate of decline in the number of subscribers to services
provided by traditional and virtual multi-channel video programming
distributors (“Distributors”); the Company’s ability to generate
cash to service its substantial indebtedness; the successful
execution of outsourcing agreements; the successful execution of
retransmission consent agreements; the successful execution of
network and Distributor affiliation agreements; the Company’s
ability to identify and consummate acquisitions and investments, to
manage increased financial leverage resulting from acquisitions and
investments, and to achieve anticipated returns on those
investments once consummated; the Company’s ability to compete for
viewers and advertisers; pricing and demand fluctuations in local
and national advertising; the appeal of the Company’s programming
and volatility in programming costs; material legal, financial and
reputational risks and operational disruptions resulting from a
breach of the Company’s information systems; the impact of FCC and
other regulatory proceedings against the Company; compliance with
laws and uncertainties associated with potential changes in the
regulatory environment affecting the Company’s business and growth
strategy; the impact of pending and future litigation claims
against the Company; the Company’s limited experience in operating
or investing in non-broadcast related businesses; and any risk
factors set forth in the Company’s recent reports on Form 10-Q
and/or Form 10-K, as filed with the Securities and Exchange
Commission. There can be no assurances that the assumptions and
other factors referred to in this release will occur. The Company
undertakes no obligation to publicly release the result of any
revisions to these forward-looking statements except as required by
law.
Category: Financial
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version on businesswire.com: https://www.businesswire.com/news/home/20240919077985/en/
Investor Contacts: Chris King, VP,
Investor Relations Billie-Jo McIntire, AVP, Investor Relations
(410) 568-1500
Media Contact: Jessica Bellucci
jbellucci-c@sbgtv.com
Sinclair (NASDAQ:SBGI)
過去 株価チャート
から 10 2024 まで 11 2024
Sinclair (NASDAQ:SBGI)
過去 株価チャート
から 11 2023 まで 11 2024