Biz Briefs

Apr 7, 2003  •  Post A Comment

Sinclair Broadcast Group said Thursday that it is revising its estimates for its first-quarter net broadcast revenues due to the impact of the war in Iraq on advertising spending.
Sinclair did not update or reconfirm its full-year revenue estimates, saying it would wait until there was clarity regarding the war’s progress and longevity. It now estimates first-quarter net broadcast revenues at approximately $152.0 million to $152.3 million, an increase of 5.1 percent to 5.4 percent over last year’s net broadcast revenues of $144.5 million and as compared with the its February estimates of $154.1 million to $154.8 million, or up 6.6 percent to 7.1 percent.
Sinclair will release its first-quarter results on May 8.
Tribune Results Wednesday
Tribune Co. will release first-quarter 2003 earnings Wednesday, April 16, before the market opens. Tribune said that a conference call to discuss the results will be held that day at 8 a.m. (CT) and is making the full text of the earnings announcement and accompanying financial tables available on the company’s Web site www.tribune.com.