BALTIMORE - Sinclair Broadcast (NASDAQ:SBGI) Group Inc. (NASDAQ: SBGI), a $1 billion market cap media company generating $3.37 billion in annual revenue, is taking a significant step in its evolution with the launch of two new divisions aimed at enhancing its advertising and content offerings. According to InvestingPro analysis, the company maintains a FAIR financial health score despite operating with significant debt. The company introduced AMP (OTC:AMLTF) Sales & Marketing Solutions and AMP Media, initiatives designed to broaden Sinclair's reach and modernize its engagement with clients and audiences.
AMP Sales & Marketing Solutions is set to transform Sinclair's sales division next month, aiming to provide a more innovative and tech-forward approach to advertising sales and integrated marketing across the United States. Ryan Moore, SVP and Chief Revenue Officer, emphasized that the new division is more than a simple rebranding; it's an overhaul intended to equip sales teams with advanced resources and support for more impactful client service and career development.
Simultaneously, Sinclair is launching AMP Media, which will serve as the umbrella brand for the company's non-news original content. This includes a variety of podcasts such as "The Triple Option," "Throwbacks," and "Unfiltered Soccer with Landon Donovan and Tim Howard," as well as social media verticals. AMP Media aims to blend leading programming and storytelling with innovative technology and creative approaches.
Rob Weisbord, Chief Operating Officer and President of Local Media, stated that these initiatives underscore Sinclair's commitment to transforming its consumer engagement and client value delivery across all media touchpoints. The company's move from traditional broadcasting toward a multi-platform media organization is marked by these new brands, which promise "One Partner, Endless Possibilities." While transforming its business model, Sinclair maintains a notable 6.39% dividend yield and has consistently paid dividends for 15 consecutive years, as revealed by InvestingPro data.
In the coming weeks, Sinclair is set to introduce a new client-facing landing page and launch a comprehensive media campaign to promote AMP. The campaign will span various channels including linear, digital, over-the-top (OTT)/connected TV (CTV), social media, and audio platforms.
Sinclair Broadcast Group operates 185 television stations across 86 markets, along with the Tennis Channel and several multicast networks. Its content is also available through multi-channel video program distributors and NewsON, the nation's largest streaming aggregator of local news content.
This announcement is based on a press release statement from Sinclair Broadcast Group. Trading at $15.07, InvestingPro analysis suggests the stock is currently slightly undervalued, with additional insights available through their comprehensive Pro Research Report, part of their coverage of over 1,400 US equities.
In other recent news, Sinclair Broadcast Group, Inc. has seen significant developments. The company has renewed its NBC affiliation for 21 stations, ensuring continued access to NBC programming for nearly 7 million U.S. households. This includes a diverse group of markets such as San Antonio, TX; Las Vegas, NV; and Providence, RI, among others.
Sinclair, Inc. also reported robust financial results for the third quarter of 2024. The company experienced a 20% increase in consolidated media revenues, reaching $908 million, largely due to a record $138 million in political advertising revenue. Sinclair's adjusted EBITDA also saw a 72% increase compared to the previous year, and its cash holdings rose to $334 million.
In addition, Sinclair has announced partnerships for live sports content and launched two sports podcasts. The company expects net retransmission revenues to grow through 2025, and predicts media revenues between $992 million and $1 billion for Q4. These are just some of the recent developments for Sinclair, Inc.
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