Sinclair acquires assets of WDKA-TV and KBSI-TV stations

BALTIMORE - Sinclair, Inc. (NASDAQ:SBGI), a media company with a market capitalization of $1.01 billion and a "GOOD" financial health rating according to InvestingPro, announced Tuesday it has acquired the non-licensed assets of WDKA-TV in Paducah, Kentucky, and KBSI-TV in Cape Girardeau, Missouri, with an option to acquire all licensed assets of both stations in the future.

Under the agreement, Sinclair will provide programming, technical, and management services to both television stations. The financial terms of the transaction were not disclosed in the company’s statement. The company maintains strong liquidity with current assets exceeding short-term obligations by more than two times.

The acquisition adds to Sinclair’s existing portfolio of television stations across the United States. Prior to this acquisition, Sinclair owned, operated or provided services to 180 television stations in 82 markets with affiliations to all major broadcast networks.

Sinclair, headquartered in Baltimore, describes itself as a diversified media company focused on local news and sports content. Beyond its television station holdings, the company owns Tennis Channel and several multicast networks including CHARGE, Comet, ROAR, and The Nest. It also operates NewsON, which aggregates local news content for streaming.

The announcement was made through a press release issued by the company.

In other recent news, Sinclair, Inc. has announced the appointment of Narinder Sahai as its new Executive Vice President and Chief Financial Officer, effective immediately. Sahai steps into the role with over 20 years of financial leadership experience, having recently served as CFO of Arcis Golf. Lucy Rutishauser, the outgoing CFO, will remain with Sinclair as Executive Vice President to aid in the transition. Additionally, Sinclair held its annual stockholders’ meeting where nine directors were elected to the company’s board. Notable directors include David D. Smith, Frederick G. Smith, and J. Duncan Smith. The meeting also saw the ratification of the company’s independent auditors. These developments indicate a period of leadership continuity and strategic planning for Sinclair.

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