Sinclair Broadcast Group said Wednesday that its third-quarter profit soared to $31.6 million from a year-earlier $3.5 million, lifted by gains associated with the sale of some assets and a reduction in expenses.

Revenue slipped to $165.8 million from a year-earlier figure of $168.1 million, hurt by weak advertising revenue and the absence of significant political advertising revenue in the period.

The company said local advertising revenue rose nearly 1 percent, but national advertising tumbled 16 percent in the period.