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, 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.