Sinclair Shares Sink As Political Harms Q4


Sinclair Broadcast Group investors went into sell mode immediately after Wednesday’s Opening Bell on Wall Street, sending SBGI shares down by more than 8% some 45 minutes into the company’s quarterly earnings call with Wall Street analysts.

At the Closing Bell, Sinclair finished with a 6.2% drop in value, to $33.80, with a further three-cent dip in immediate after-hours trading on Nasdaq.

Why were stockholders skittish, even as the company appears ever-closer to its merger with Tribune Media and announcement regarding affiliation agreements with FOX is expected to come shortly? Total revenue was down in Q4, although net income was up.

Blame politics.

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