Business
Sinclair Announces Holding Company Reorganization
To Rename Company as Sinclair, Inc. BALTIMORE--(BUSINESS WIRE)-- Sinclair Broadcast Group, Inc. (“Sinclair Broadcast”) (Nasdaq: SBGI) announced today that it
About this update from Sinclair, Inc.
[{"type":"text","content":"\nTo Rename Company as Sinclair, Inc.\n\n\n BALTIMORE--(BUSINESS WIRE)--\nSinclair Broadcast Group, Inc. (“Sinclair Broadcast”) (Nasdaq: SBGI) announced today that it intends to implement a reorganization in which a new holding company, Sinclair, Inc. (“New Sinclair”), would become the publicly-traded parent of Sinclair Broadcast and its subsidiaries (the “Reorganization”).\n\nThis press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230403005381/en/These are simplified illustrations of our business structure before and after the Reorganization. (Graphic: Business Wire)\nBeyond its familiar broadcast business, Sinclair Broadcast and its affiliates own, manage and/or operate technical and software services companies, intellectual property for the advancement of broadcast technology, and other media and non-media related businesses and assets including real estate, venture capital, private equity, and direct investments. These other businesses and assets include, among other things, Compulse, a marketing technology and managed services company, and Tennis Channel. As part of the Reorganization, these other businesses and assets will be held by New Sinclair through a new subsidiary to be known as Sinclair Ventures, rather than by Sinclair Broadcast or its direct subsidiary, Sinclair Television Group, Inc.\n\n\n“We believe the new structure will provide greater flexibility for creating value within the company. The new structure simplifies the corporate structure and improves the transparency of financial disclosures on the value drivers of the company,” commented Christopher S. Ripley, President and CEO of the company. “We believe these other assets, some of which are currently buried in the broadcast division, can receive greater visibility outside the ‘broadcast’ umbrella, while Sinclair Broadcast will become a broadcast-focused subsidiary for which stockholders can better value its true performance. In short, we believe a holding company structure can unlock unrecognized value and provide structural flexibility for the growth and monetization of our current and potential future media and non-media businesses.”\n\n\nIn the Reorganization, each outstanding share of Sinclair Broadcast’s Class A common stock and Class B common stock would be exchanged automatically on a one-for-one ...