AllAnalyst Report
logoMorningstarFebruary 24, 2021

Sinclair, Inc.: Sinclair Posted Flat Fourth-Quarter Results; RSNs Continue to Suffer Amid the Pandemic

Symbols
SBGI
Sector(s)
Communication Services
Rating
Current Price
$12.35
Fair Value
Economic Moat
Stewardship
Summary

Sinclair Broadcast Group is the second-largest television station operator in the U.S., with 191 stations in 89 markets. Of the firm’s 607 channels, 154 are affiliated with the four national broadcasters--Fox (59), ABC (41), CBS (30), and NBC (24)--with another 86 channels on networks aligned with CBS (47 CW channels) and Fox (39 MyNetworkTV channels). Via the 2019 purchase of Fox Sports Networks from Disney, Sinclair is now the largest owner or operator of regional sports networks with 14 Fox-branded RSNs covering 42 NBA, MLB, and NHL teams

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Analyst Profile

Neil Macker

Equity Analyst
Neil Macker, CFA, is a senior equity analyst for Morningstar Research Services LLC, a wholly owned subsidiary of Morningstar, Inc. He covers media/entertainment and video game publishers.Before joining Morningstar in 2014, Macker was a senior equity research associate for FBR & Co., where he covered the telecommunications services sector. Previously, he was an associate equity analyst for R.W. Baird and completed the summer associate rotational program at UBS Investment Bank. Before attending business school, Macker held analytical roles at Corporate Executive Board and Nextel.Macker holds a bachelor’s degree from Carleton College, where he graduated cum laude, and a master’s degree in business administration from The Wharton School of the University of Pennsylvania. He also holds the Chartered Financial Analyst® designation.