Sinclair Broadcast Revs Rocket: 59% Rise In National Ads
Sinclair 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,
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