BALTIMORE, July 11, 2019 /PRNewswire/ -- Sinclair
Broadcast Group, Inc. (Nasdaq: SBGI), the "Company" or "Sinclair,"
today released preliminary Media Revenues for the three months
ended June 30, 2019 of approximately
$721 million, which is in line with
the Company's previously released outlook of $716 million to $725
million.
The Company also announced that it has entered into a multi-year
agreement with Charter Communications, Inc. for the continued
carriage of the Company's broadcast television stations and Tennis
Channel, as well as carriage of Marquee Sports Network when it
launches in the first quarter of 2020. The agreement also
provides for a term extension for the carriage of currently carried
FOX regional sports networks (the "RSNs") that is effective upon
the Company closing on its pending acquisition of the RSNs from the
Walt Disney Company.
The preliminary Media Revenue results described in this press
release are estimates only and are subject to revision until the
Company completes its close processes. The Company will
report its complete second quarter 2019 earnings results at 7:30
a.m. ET on Wednesday, August 7, 2019,
followed by a conference call to discuss the results at
9:00 a.m. ET. The call will be
webcast live and can be accessed at www.sbgi.net under "Investors/
Webcasts." The dial-in number for the earnings call is
888-428-7458.
If you plan to participate on the conference call, please call
two minutes prior to the start time and tell the conference
operator that the subject of the conference is the "Sinclair
Earnings Conference Call."
If you cannot listen to the live webcast or participate in the
live conference call, a replay of the call and the earnings release
will be available on Sinclair Broadcast Group's web site at
www.sbgi.net. This will be the only venue through which a replay
will be available.
Members of the news media will be welcome on the call in a
listen-only mode. Key executives will be made available to
members of the news media, time permitting, following the
conference call.
Sinclair is one of the largest and most diversified television
broadcasting companies in the country. The Company owns, operates
and/or provides services to 191 television stations in 89 markets.
Sinclair is a leading local news provider in the country and is
dedicated to impactful journalism with a local focus. The Company
has multiple national networks, live local sports production, as
well as stations affiliated with all the major networks. Sinclair's
content is delivered via multiple-platforms, including
over-the-air, multi-channel video program distributors, and digital
platforms. The Company regularly uses its website as a key source
of Company information and can be accessed at
www.sbgi.net.
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, risks associated with the ability to
consummate the pending RSN acquisition and the timing of the
closing thereof; the risk that a regulatory approval that may be
required for the pending RSN acquisition is delayed, the impact of
changes in national and regional economies, the completion of the
FCC spectrum repack, the volatility in the U.S. and global
economies and financial credit markets which impact our ability to
forecast or refinance our indebtedness as it comes due, successful
execution of outsourcing agreements, pricing and demand
fluctuations in local and national advertising, volatility in
programming costs, the market acceptance of new programming, the CW
Television and MyNetworkTV programming, our news share strategy,
our sales initiatives, the execution of retransmission consent
agreements, our ability to identify and consummate investments in
attractive non-television assets and to achieve anticipated returns
on those investments once consummated, the impact of pending and
future litigation claims against the Company, uncertainties
associated with potential changes in the regulatory environment
affecting our business and growth strategy, 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.
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SOURCE Sinclair Broadcast Group, Inc.