Sinclair Explores Sale of Over 30% of Broadcast Stations, Amid Tensions and Financial Losses from fire sales and service corp Watch Video
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⏲ Duration: 0:45 👁 View: 2.9M times ✓ Published: 11-May-2024
Description: Sinclair wants to sell more than 30% of its 185 owned or operated broadcast stations across the US through investment bank Moe-liss & Co. The stations considered for sale generate an estimated $1.5 billion in combined revenue for 2023-2024 and are located in major markets like Minneapolis, Portland, Pittsburgh, Austin, and Fresno. Sinclair is open to selling all or some of the 60+ stations that have been identified as potential sales. The potential sales come amid tensions within Sinclair's owning Smith family and losses of over 70% in market value over 5 years.