BALTIMORE - Sinclair Broadcast Group (NASDAQ:SBGI) has entered into a new distribution agreement with ABC Owned Television Stations, broadening the reach of its free, over-the-air network, CHARGE!, into major U.S. markets.
Starting today, CHARGE! will be available on specific digital subchannels across eight ABC powerhouse stations, entering over four million additional over-the-air TV households and approximately 3.73 million pay TV/cable households.
The agreement positions CHARGE! on Diginet 3 channels in several large markets, including New York, Los Angeles, Chicago, and Philadelphia, among others. CHARGE! is known for its lineup of popular police procedural franchises, such as "Law & Order: Criminal Intent" and "CSI NY." The expansion brings the network's over-the-air availability to 109 U.S. markets, including nine of the top ten.
Lee Schlazer, SVP of Distribution at Sinclair, expressed enthusiasm about the launch and the strategic initiative to secure prime positioning for CHARGE! on ABC's leading stations. This move is part of Sinclair's ongoing efforts to grow its multicast networks and capitalize on successful programming that has consistently driven audience growth.
Sinclair Broadcast Group is recognized as a diversified media company, operating and providing services to 185 television stations in 86 markets, affiliated with all major broadcast networks. It also owns multiple multicast networks and the nation's largest streaming aggregator of local news content, NewsON.
ABC Owned Television Stations, part of Disney Entertainment Television, are known for their leadership in local news and information. With a collective reach to all U.S. television households, the stations have a strong presence in streaming channels, social media, and syndicated daytime series production.
The announcement of this partnership is based on a press release statement and further details, including program schedules and channel locations, can be found on the CHARGE! network's website.
InvestingPro Insights
Sinclair Broadcast Group's (NASDAQ:SBGI) latest distribution agreement with ABC Owned Television Stations not only extends CHARGE!'s programming reach but also comes at a time when the company is showing interesting financial dynamics. Here's what the real-time data from InvestingPro reveals:
InvestingPro Data:
- Market Cap (Adjusted): 833.82M USD
- Revenue (last twelve months as of Q4 2023): 3134M USD
- Dividend Yield (as of the latest dividend date in 2024): 7.42%
These figures suggest that despite a challenging revenue trend, with a decrease of 20.21% over the last twelve months, Sinclair maintains a strong commitment to returning value to shareholders through its significant dividend yield. The company's market capitalization reflects a sizeable presence in the media industry, which could be bolstered by the strategic expansion of CHARGE!.
InvestingPro Tips:
- Sinclair's management has demonstrated confidence in the company's future through aggressive share buybacks.
- The company has seen a significant return over the last week, with a 1 Week Price Total Return of 8.89%.
The buyback initiative, coupled with the recent price performance, indicates management's belief in the intrinsic value of Sinclair's shares. Investors looking for additional insights can find more InvestingPro Tips for Sinclair Broadcast Group, such as the company's expected profitability this year and its ability to maintain dividend payments for 15 consecutive years, at https://www.investing.com/pro/SBGI. There are 8 additional InvestingPro Tips available, which can be accessed with a subscription. Use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.