On March 30, with COVID-19 pandemic concerns cratering media industry stocks and questions galore arising over the company’s acquisition of Regional Sports Networks (RSNs) from FOX, Sinclair Broadcast Group took its lumps on the Nasdaq GlobalSelect market.
The company’s stock dipped to $12.25, a price last seen roughly eight years ago.
Nine months later, SBGI has rebounded so strongly that it is just pennies away from its year-to-date high, and is priced stronger than in the days before the virus’s arrival in the U.S.
