With Nexstar Media Group getting Tribune Broadcasting and the Apollo Group/Cox Enterprises operation set to get Nexstar’s necessary divestments to win regulatory approval, what’s up with Sinclair Broadcast Group?
For one, its stock year-to-date is on a roll, recovering to levels last seen when its Tribune merger was still on track.
With minutes remaining in Thursday’s trading on Wall Street, SBGI was down 32 cents to $32.87 on lower-than-average volume of 481,269 shares.
However, Sinclair has been on a roll since Jan. 1 — and since December 17, 2018, to be precise.
At that time, many TV issues were slumping, perhaps due to noise from the White House over television networks’ role in the propagation of “fake news.” Sinclair stock was down to $25.89 — returning to lows seen in late July 2018.
That’s when the company was dealing with the realization that its merger with Tribune Broadcasting was likely off, due to FCC Chairman Ajit Pai’s announcement that an Administrative Law Judge would be reviewing the matter in a hearing order.
At the start of July 2018, Sinclair shares were approaching $33.
Today, that’s exactly where they are — even without Tribune’s holdings in the family.