Sinclair wants to sell more than 30% of its 185 owned or operated broadcast stations across the US through investment bank Moe-liss & Co. The stations considered for sale generate an estimated $1.5 billion in combined revenue for 2023-2024 and are located in major markets like Minneapolis, Portland, Pittsburgh, Austin, and Fresno. Sinclair is open to selling all or some of the 60+ stations that have been identified as potential sales. The potential sales come amid tensions within Sinclair's owning Smith family and losses of over 70% in market value over 5 years.
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00:00 It's Benzinga and here's what's on the block.
00:02 Sinclair is looking to sell more than 30% of its 185 owned or operated broadcast stations
00:08 across the U.S. through its investment bank, MOLUS and company. The stations considered for
00:13 sale generate an estimated $1.5 billion in combined revenue for 2023 and 2024 and are
00:20 located in major markets like Minneapolis, Portland, Pittsburgh, Austin, and Fresno.
00:25 Sinclair is open to selling all or some of its 60+ stations that have been identified as potential
00:30 sales. The potential sales do come with the tensions that Sinclair's owning family,
00:35 Smith family, and also the losses of over 70% in market value over 5 years.
00:41 For all things money, visit Benzinga.com