Sinclair explores selling roughly 30% of its broadcast stations, sources say
Publishing timestamp: 2024-05-09 14:00:44
Summary
Sinclair is looking to sell more than 30% of its broadcast stations, including the Tennis Channel, to unlock value and help de-lever. The company has hired Moelis as its investment banker and is also exploring options for its cable TV network. The sale process comes after tension within the Smith family, shareholders, and board directors.
Sentiment: NEUTRAL
Keywords: sinclair broadcast group inc, moelis & co, breaking news: business, media, tegna inc, business news,
Source: https://www.cnbc.com/2024/05/09/sinclair-explores-selling-30percent-of-broadcast-stations.html