TV Station Sale Boosts Sinclair’s Q2 Profit

Aug 3, 2005  •  Post A Comment

Sinclair Broadcast Group, the Baltimore-based owner of 61 television stations, said Wednesday that its second-quarter profit surged to $142.6 million from a year-earlier figure of $20.2 million, driven by a $128.5 million gain related to the sale of its Sacramento television station to Viacom earlier this year.

Revenue slipped 2 percent to $163.1 million.

Excluding the one-time gain, Sinclair’s results reflected a mixed bag in the advertising category that was driven in large part by the lack of political advertising spending during the quarter.

But the company’s core advertising areas were also uneven, with the schools, services, fast food and entertainment categories up for the period, while automotive, restaurants, telecommunications and movies were down. Overall, excluding political, local advertising was up 0.3 percent, while national was down nearly 3 percent.