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BALTIMORE - Sinclair, Inc. (NASDAQ:SBGI), a major player in the broadcasting industry, has announced the retirement of Dave Schwartz, Corporate Senior Vice President/Station Operations, effective June 30. Schwartz, who has been with Sinclair since 2004, has played a significant role in the company’s broadcast operations for over two decades.
During his tenure, Schwartz was instrumental in guiding Sinclair’s operational strategy and supporting local stations through phases of growth and technological change. His leadership and deep understanding of the local broadcast landscape have been credited with strengthening the company’s position in the market, contributing to its current annual revenue of $3.5 billion and healthy gross profit margin of nearly 50%.
Rob Weisbord, COO and President of Local Media at Sinclair, expressed gratitude for Schwartz’s contributions, highlighting his exceptional leadership and positive influence on the company. "His deep understanding of the local broadcast business, combined with his passion for people and community, helped make Sinclair stronger at every level," Weisbord stated.
Before his time at Sinclair, Schwartz held various leadership roles in the industry, including Vice President of Sales at WRBW-TV in Orlando and Senior Vice President and Director of Sales at Seltel national rep firm. He began his media sales career in 1979.
Reflecting on his retirement, Schwartz shared his appreciation for the experiences and relationships he formed at Sinclair, expressing pride in the content created and the impact made on local viewers.
Sinclair owns and operates a vast network of television stations and is known for its ownership of the Tennis Channel and multiple multicast networks. The company also operates NewsON, a significant streaming aggregator of local news content. This announcement is based on a press release statement from Sinclair, Inc.
In other recent news, Sinclair Inc. reported its financial projections for the first quarter of 2025, with expected revenues ranging from $765 million to $779 million and EBITDA estimates between $90 million and $102 million. Guggenheim Securities maintained a Buy rating on Sinclair, though it lowered the stock’s price target from $19 to $17, reflecting a cautious outlook due to weaker core advertising trends and minimal political advertising revenue. Analysts at Guggenheim anticipate revenues of approximately $773 million and EBITDA around $96 million, aligning closely with Sinclair’s guidance. Despite the adjustments, Guggenheim forecasts a robust average annual free cash flow of $347 million for the 2024/25 cycle, translating to about $5.16 per share, representing a 35% FCF yield.
Additionally, Sinclair announced the promotion of Christina Tesauro to Senior Vice President of Sales for the Tennis Channel. Tesauro has been with Sinclair since 2018, contributing significantly to the network’s growth and strategic partnerships. In other developments, Sinclair’s Executive Vice President and CFO, Lucy Rutishauser, announced her retirement. The company has begun searching for her successor while Rutishauser will continue as a senior advisor post-retirement. Sinclair’s leadership praised her contributions, including a recent $4 billion restructuring of the company’s balance sheet. These updates reflect Sinclair’s ongoing efforts to navigate industry challenges and maintain its financial health.
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