The unit will invest in emerging digital technologies and digital content companies, focusing on companies with products or services that support and expand Sinclair’s digital capabilities and non-linear platform.
The division will be overseen by three Sinclair executives: David Amy, Sinclair’s COO; Chris Ripley, Sinclair’s CFO; and Rob Weisbord, Sinclair Digital Group’s COO.
David Smith, president/chief executive officer of Sinclair Broadcast Group, stated: “We currently have several potential investments in the Digital Ventures pipeline whose emphases are on advancing advertiser reach, enhancing the users’ digital experience, and/or improving our digital content.”
He adds: “Expansion of our digital footprint is integral to our longer-term growth plan, especially as viewing consumption trends evolve.”
Sinclair owns and operates, programs or provides sales services to 162 TV stations in 79 markets. Sinclair's television group reaches approximately 37.5% of U.S. TV homes.
The company says in its 2014 fourth quarter, digital revenue grew 71%. Last year, Sinclair closed major TV station acquisitions including outlets from Allbritton Communications.