Slight Uptick In Sinclair TV Revs, Digital Soars

Sinclair Broadcast Group revenues inched up just 2% for its second-quarter results, with lower net income. The stock market wasn’t impressed.

The mid-day stock price of the big TV station group -- which is looking to complete a deal to acquire Tribune Media -- was down 3% in mid-Wednesday trading to $35.70.

Total revenues gained 1.9% to $679.3 million; net income was down 9% to $46.0 million. Both results beat analysts expectations.

Sinclair, like other TV station groups, expectedly dipped in political advertising revenues. Sinclair’s pulled in $5.4 million versus $16.7 million.

Political advertising comparisons are expected to be more difficult in the coming periods. The company estimates $7.5 million to $9 million in political revenues, as compared to $45 million in third-quarter 2016.

Overall, media revenue in the second quarter -- before barter deals -- improved 4.2% to $631.8 million. Sinclair said second-quarter digital ad revenues gained 40% over the same period a year before.

Going forward, the company expects flat advertising revenues in the third quarter -- due to the absence of $11 million in Olympic advertising revenue gained a year ago.

Sinclair says “core” advertising would be flat-to-low single-digit percentages.

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