Sinclair Broadcast Revs Rocket: 59% Rise In National Ads

by , Feb 6, 2013, 1:27 PM
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ArrowUp-over-Money-AA2Sinclair Broadcast Group made major gains from automotive and political advertising revenues in the fourth quarter of 2012, contributing to sharply higher financial results.

All this contributed to 38% growth in local net broadcast revenues -- which includes advertising sales, retrans and other revenues. National advertising sales did even better -- up 59%.

Political advertising revenues rose 10 times higher than its fourth-quarter 2011 results -- to $54 million from $4.1 million. As with other major TV broadcast station groups, the automotive category has been particularly strong, as well as direct-response marketers.

Ad categories that declined included services, schools, pharmaceuticals, and restaurants.

Overall revenues at Sinclair rocketed up 59% to $287 million. Net income more than doubled to $59 million from almost $23 million in the fourth quarter of 2011.

Sinclair says the start of 2013 should continue to pull in strong advertising results; 11 of its stations are CBS stations. CBS aired the Super Bowl last Sunday.

Sinclair, a big station group based in Baltimore, owns or offers sales services to 87 TV stations in 47 markets. It reaches around 27% of U.S. television homes.

Sinclair's Wednesday midday stock price was 4% higher to $14.75.

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