Sinclair Discussing Going Private
Believing Sinclair’s stock price undermines its performance, Sinclair Broadcast Group CEO David Smith said the company has discussed going private. Smith’s revelations occured on a conference call discussing the company’s first quarter results, which saw broadcast revenues up 8.5%.
"Anybody that’s looking at the Sinclair stock today would have to say there’s a tremendous amount of value," Smith told investors. "[But] for whatever reason, the valuations just don’t show up from a market standpoint in our equity."
MediaPost has more on Smith’s musings [registration required].
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Michael Malone, senior content producer at B+C/Multichannel News, covers network programming, including entertainment, news and sports on broadcast, cable and streaming; and local broadcast television. He hosts the podcasts Busted Pilot, about what’s new in television, and Series Business, a chat with the creator of a new program, and writes the column “The Watchman.” He joined B+C in 2005. His journalism has also appeared in The New York Times, The Philadelphia Inquirer, Playboy and New York magazine.
By Jens Koerner