Sinclair Swings to Q1 Profit

May 4, 2005  •  Post A Comment

Sinclair Broadcast group reported Wednesday that it swung to a profit in the first quarter, thanks to lower expenses and a gain on investments.

The Baltimore-based owner of 61 television stations reported a profit of nearly $9 million, compared with a year-ago loss of $2.3 million. Revenue was generally flat at $164.7 million.

The company said its results included the positive impact of Sinclair’s Fox stations carrying this year’s Super Bowl, which contributed $4 million in advertising revenue, compared with $100,000 booked in 2004’s big game. Overall, local advertising sales were generally flat, while national advertising sales fell 3.5 percent, largely due to the lack of political advertising. Excluding political, national advertising revenue was generally flat.