The Sinclair Broadcast Group saw a huge spike in revenues in the fourth quarter, with the surge driven by acquisitions and political advertising, B&C reports.
The company reported “fourth quarter revenues of $613.8 million, an increase of 43.5% over the same quarter in the previous year,” B&C reports. “Net broadcast revenues increased 45.6% to $556.6 million in the quarter. Operating income was $208.9 million, an increase of 102.4%.”
Sinclair owns more TV stations in the U.S. than any other company. According to the Sinclair website, “Sinclair owns and operates, programs or provides sales services to 162 television stations in 79 markets. Sinclair’s television group reaches approximately 37.5% of US television households and includes FOX, ABC, MyTV, CW, CBS, NBC, Univision and Azteca affiliates.”
Said David Smith, Sinclair president and CEO: “We are excited to report record-breaking results for our key financial metrics for 2014, driven by growth from our acquisitions, political advertising, retransmission consent fees and our digital platform. From that, we returned $194 million to our shareholders in the form of opportunistic share buybacks and dividends, which we increased 10% during the year.”
Smith said the company, which closed a nearly $1 billion acquisition of Allbritton in August, will continue to focus on expanding its original content and distribution platforms this year.