|Over a week ago|
ViacomCBS, Sinclair Broadcast announce affiliation renewal agreement » 09:1706/3006/30/20
VIACA, VIAC, SBGI
ViacomCBS (VIACA, VIAC)…
ViacomCBS (VIACA, VIAC) and Sinclair Broadcast Group (SBGI) announced a multi-year agreement to renew eight CBS network affiliations for Sinclair stations, including two top-50 market affiliates, KUTV in Salt Lake City, UT and KEYE-TV in Austin, TX. The companies said in a release, "ViacomCBS also reached agreement to renew the affiliation of WTVH in Syracuse, NY to which Sinclair provides services. The 9 markets combined reach 3% of the U.S. audience, serving over 3 million television households. The agreement consists of renewals for CBS affiliates KUTV in Salt Lake City, UT; KEYE in Austin, TX; WGME in Portland, ME; WTVH in Syracuse, NY; KGAN in Cedar Rapids, IA; WSBT in South Bend, IN; KRCG in Columbia, MO; KHQA in Quincy, IL; and KTVO in Ottumwa, IA."
Sinclair Broadcast the 'obvious winner' in baseball's return, says Benchmark » 09:5906/2406/24/20
Benchmark analyst Daniel…
Benchmark analyst Daniel Kurnos said the MLB and the MLBPA agreeing to a 60 game season should have positive ramifications for the entire broadcast universe, but he sees Sinclair Broadcast Group (SBGI) as "the obvious winner," although he added that "the rebate math is bound to make both the quarterly and annual results really messy." Regional sports network advertising is likely to come back meaningfully in Q3 and into Q4, Sinclair will have a greater shot at keeping a larger portion of distribution revenue, and the timing "seems ideal" given the pending Comcast (CMCSA) negotiation at the end of July, Kurnos tells investors. While he lowered the firm's price target on Sinclair Broadcast to $30 from $35 to fix some "double-counting issues" in his prior model, Kurnos keeps a Buy rating on Sinclair shares.
MLBPA agrees to report to training camps by July 1 for 60-game season, ESPN says » 18:0706/2306/23/20
DIS, FOX, FOXA, VIAC, VIACA, SBGI, CMCSA, CMCSK, T
The Major League Baseball…
The Major League Baseball Players Association has agreed to report to training camps by July 1 and play a shortened season with 60 games, though an official agreement has not yet been finalized, ESPN's Jeff Passan reports, citing sources. Major League Baseball will return a week from tomorrow following one last health-and-safety hurdle, Passan notes. Publicly traded companies that broadcast MLB games include Disney (DIS), Fox (FOXA), CBS (VIAC), Sinclair Broadcast (SBGI), NBC (CMCSA), and AT&T (T). Reference Link
Cinedigm partners with Team Whistle to accelerate Whistle TV » 06:1506/2206/22/20
CIDM, SSNLF, SBGI
Cinedigm (CIDM) announced…
Cinedigm (CIDM) announced a partnership with Team Whistle to accelerate the distribution of its Whistle TV streaming service. Whistle TV is an OTT Linear and VOD sports and entertainment network featuring Whistle original shows and premium library content from studios, networks and leagues across the industry. Whistle TV fills a void in the market by combining brand safe sports, entertainment and lifestyle content. Whistle TV is currently live on Samsung (SSNLF) TV Plus, Vizio SmartCast and Sinclair Broadcast Group's (SBGI) STIRR. Cinedigm will work with Team Whistle to significantly expand Whistle TV's nationwide distribution on linear, AVOD and SVOD platforms on connected TVs, digital set-top boxes, media-streaming devices, and web-based and online OTT services. Further extending the partnership, Cinedigm will also distribute select Whistle TV films and series in North America across the broader OTT landscape.
MLB, MLBPA near deal to play 2020 season, MLB Network says » 14:5506/1706/17/20
DIS, FOX, FOXA, VIAC, VIACA, SBGI, CMCSA, CMCSK, T
Major League Baseball and…
Major League Baseball and the Major League Baseball Players' Association are nearing a deal to play the 2020 season, MLB Network's Jon Heyman reports, citing players. An agreement is expected to be for prorated pay and include expanded playoffs, Heyman says. Heyman noted in a separate tweet that, as part of the pending agreement, the union has agreed to waive any grievance. Publicly traded companies that broadcast MLB games include Disney (DIS), Fox (FOXA), CBS (VIAC), Sinclair Broadcast (SBGI), NBC (CMCSA), and AT&T (T). Reference Link
Sinclair Broadcast to hire 25 employees for new headline news service » 09:4206/1706/17/20
Sinclair Broadcast Group…
Sinclair Broadcast Group announced that it will be launching a headline news service scheduled to premiere in early 2021. This new program will report on the news as it happens. In the initial phase, the headline news service will air weekday mornings from 6:00 - 9:00 a.m. across Sinclair's CW and MY network affiliates, as well as on STIRR, Sinclair's free, over-the-top streaming platform. The headline news service will primarily focus on and elevate commentary-free content provided by Sinclair's extensive network of local broadcast stations, and will also offer original content produced specifically for the program. Further, it will bring some of the most important national stories to audiences as well, making it one of the only platforms available that can simultaneously provide both local and national perspectives on the day's most pressing news. In addition to the main anchor, the service will feature a LIVE Desk tasked with reporting new details and insights on significant stories throughout the day. This will provide audiences with an informative look at the day ahead in real time, giving them the facts to help determine what to anticipate with developing stories. As part of this effort, the company also announced it will be hiring 25 new positions to staff this new initiative. Job postings will go live on 6/17 and roles include: Anchors; Producers; Reporters; Editors; Photographers; Directors.
|Over a month ago|
Cinedigm's Bob Ross channel available on Sinclair Broadcast's STIRR service » 09:1905/1905/19/20
Cinedigm (CIDM) announced…
Cinedigm (CIDM) announced the launch of the Bob Ross Channel on STIRR, an ad-supported, live and on-demand streaming service. The channel is now live and can be accessed on STIRR via iOS and Android devices, as well as Amazon Fire TV, Apple TV, and online at www.STIRR.com. The Bob Ross Channel will showcase the series' memorable moments and incredible paintings, featuring approximately 380 classic episodes and delivering hours of quality entertainment that is enjoyable for the whole family. As part of Cinedigm's agreement with Bob Ross, Inc., Cinedigm will also produce and distribute special messages of support for public television on the channel, as well as spots highlighting official Bob Ross painting products, and Bob Ross Certified Instructors.
Sinclair Broadcast withdraws FY20 guidance » 07:3505/0605/06/20
Withdrawing all fiscal…
Withdrawing all fiscal year 2020 previously-issued guidance due to the COVID-19 pandemic impact and lack of visibility on resumption of professional sports.
Sinclair Broadcast reports Q1 EPS $1.35, may not compare to consensus 2c » 07:3405/0605/06/20
Reports Q1 revenue…
Reports Q1 revenue $1.61B, consensus $1.65B.
Sinclair Broadcast price target lowered to $17 from $22 at B. Riley FBR » 09:1605/0505/05/20
B. Riley FBR analyst Zack…
B. Riley FBR analyst Zack Silver lowered the firm's price target on Sinclair Broadcast to $17 from $22 and keeps a Neutral rating on the shares. The analyst took down estimates into the Q1 results for the TV broadcasters to reflect an updated view on potential COVID-related impacts to core advertising, subscriber counts, and sporting event cancellations. The analyst, however, sees current expectations for Q1 as achievable.