Sinclair, Inc. (NASDAQ: SBGI) has released preliminary unaudited local media segment fourth quarter 2024 media revenues and certain media operating expenses. The company expects local media segment media revenues to be between $931 million to $933 million for the three months ended December 31, 2024, which is lower than the previously disclosed guidance of $936 million to $945 million.
This includes political advertising revenue of approximately $203 million (versus previously disclosed guidance of $204 million), core (non-political) advertising revenue of $300 million to $301 million (versus previously disclosed guidance of $307 million to $315 million), distribution revenue of $392 million to $393 million (versus guidance of $386 million to $388 million), and other media revenue of approximately $37 million (versus previously disclosed guidance of $38 million).
Additionally, the company expects fourth quarter 2024 local media segment combined preliminary media programming and production expenses and media selling, general, and administrative expenses of $580 million to $582 million, which compares favorably to the previously disclosed guidance of a total of $589 million to $590 million for the total of these two expense line items.
The preliminary results described in this press release are unaudited estimates and are subject to revision until the company completes its standard closing process, including the completion of all of its controls procedures. The company plans to report its fourth quarter 2024 earnings results on February 26, 2025, followed by a conference call to discuss the results.
The call will be webcast live and can be accessed at www.sbgi.net under the subtitle “investor relations/events and presentations.” The company's press release and any non-GAAP reconciliations will also be available on the website. As a result of these announcements, the company's shares have moved -1.1% on the market, and are now trading at a price of $14.85. Check out the company's full 8-K submission here.
