Sinclair Broadcasting revenues drop

Source: The Hill | May 5, 2021 | Thomas Moore

Sinclair posted a first-quarter revenue drop of 6 percent, or $1.5 million, compared with the first quarter of 2020, the company said Wednesday.

In addition, the company posted a net loss of $12 million in the first quarter of this year, compared to net income of $123 million in the first quarter of 2020.

In its statement accompanying the numbers, the company blamed the results on a lack of political ad revenue, distributors dropping some of the company’s regional sports network brands and higher subscriber churn in the pay TV industry.

A day before posting the results, Sinclair announced it was expanding its national news show “The National Desk.”

The show is adding two hours in the evening from 10 p.m. to midnight ET. in addition to its current time slot of 6 a.m. to 9 a.m. ET.

“The National Desk” runs on local TV stations Sinclair owns in 87 U.S. markets and also on Sinclair’s free streaming platform “STIRR” as well as its news websites.

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