Sinclair Launches Comprehensive Strategic Review for Broadcast Business
To optimize value creation across its portfolio, the Company will simultaneously evaluate separating Ventures through a spin-off, split-off, or other transaction. This dual-track approach reflects the Board's commitment to unlocking the full potential of both businesses, each of which has distinct growth profiles and value drivers.
This unanimous Board mandate provides Sinclair with the flexibility to pursue transformational opportunities without predetermined limitations on transaction structures, enabling the Company to execute the most compelling strategy in today's dynamic broadcast and media landscape.
'Scale wins in today's broadcast industry, and we intend to lead that consolidation,' said Chris Ripley, President & Chief Executive Officer of Sinclair, Inc. 'Our Broadcast business's industry-leading performance positions us as the partner of choice for value creation. Simultaneously, we expect separating Ventures will crystallize significant value that the market has overlooked within our current structure, giving us even more flexibility to drive our broadcast strategy forward.'
Sinclair's Broadcast business has consistently outperformed industry peers, with advertising revenues growing year-over-year in the most recent quarter despite record political displacement. The Company's Ventures portfolio represents significant additional value through its diversified investments in real estate, private equity, and technology.
There is no assurance that the strategic review will result in any transaction or other strategic change, and Sinclair does not intend to disclose developments unless and until the Board approves a specific course of action or the Company otherwise determines that further disclosure is appropriate or required by law.
About Sinclair, Inc.
Sinclair, Inc. is a diversified media company and a leading provider of local news and sports. The Company owns, operates and/or provides services to 178 television stations in 81 markets affiliated with all major broadcast networks; owns Tennis Channel, the premium destination for tennis enthusiasts; multicast networks CHARGE, Comet, ROAR and The Nest; and the nation's largest streaming aggregator of local news content, NewsON. Sinclair's AMP Media produces a growing portfolio of digital content and original podcasts. Additional information about Sinclair can be found at www.sbgi.net.
Forward-Looking Statements
The matters discussed in this news release 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 timing of our review of any strategic alternatives for the Broadcast business segment or potential separation of our Ventures portfolio; whether we will be able to identify or develop any such strategic alternatives; our ability to execute on material aspects of any such strategic alternatives that are identified and pursued or the separation of our Ventures portfolio; whether we can achieve the potential benefits of any such strategic alternatives or separation; the risk that the strategic alternatives and separation review and its announcement could have an adverse effect on the ability of the Company to retain and hire key personnel and maintain relationships with partners, suppliers, employees, shareholders and other business relationships and on its operating results and business generally; the risk the strategic alternatives and separation review could divert the attention and time of the Company's management; 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.
No Offer or Solicitation
This press release is for informational purposes only and shall not constitute an offer to sell or the solicitation of an offer to buy any securities, or a solicitation of any vote or approval.
Category: Financial
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