sinclair elects board and ratifies proposals at annual meeting

Sinclair, Inc. (NASDAQ:SBGI), a media company currently trading at $13.04 and showing signs of undervaluation according to InvestingPro Fair Value metrics, held its annual stockholders’ meeting on Thursday, where multiple proposals were put to vote and successfully passed, according to a recent SEC filing. The meeting, which took place on June 5, 2025, saw the election of nine directors to the company’s board, the ratification of its independent auditors, and approval of other key proposals.

The election of directors was the first proposal, with all nominated individuals securing their positions for a term ending at the next annual meeting in 2026. The directors elected include David D. Smith, Frederick G. Smith, J. Duncan Smith, Robert E. Smith, Laurie R. Beyer, Benjamin S. Carson, Sr., Howard E. Friedman, Daniel C. Keith, and Benson E. Legg. The voting results showed a substantial majority in favor of each nominee. The board will oversee a company that maintains strong liquidity with a current ratio of 2.08, indicating healthy short-term financial stability.

The second proposal involved the ratification of PricewaterhouseCoopers LLP as Sinclair’s independent registered public accounting firm for the fiscal year ending December 31, 2025. This proposal was approved with 271,271,328 votes in favor, 655,810 against, and 53,629 abstentions.

Stockholders also approved a non-binding advisory vote on executive compensation, as outlined in the company’s Compensation Discussion and Analysis. The proposal received 260,660,171 votes in favor, 1,168,293 against, and 81,436 abstentions.

The final proposal sought approval for an amendment to Sinclair’s Articles of Amendment and Restatement of Incorporation. This amendment aims to expand the definition of "Permitted Transferees" for the company’s Class B Common Stock. The proposal passed with 245,995,904 votes in favor, 10,995,019 against, and 4,918,977 abstentions.

These decisions reflect the stockholders’ support for the company’s current leadership and strategic direction. The outcomes are based on a press release statement included in the SEC filing. Notably, Sinclair maintains a significant 7.79% dividend yield and has consistently paid dividends for 16 consecutive years. For deeper insights into Sinclair’s financial health and growth prospects, including additional ProTips and comprehensive analysis, visit InvestingPro, where you’ll find detailed research reports and expert commentary on this and 1,400+ other US stocks.

In other recent news, Sinclair Broadcast Group reported stable media revenues for the first quarter of 2025, meeting expectations, with a notable $15 million increase in distribution revenues compared to the previous year. However, the company experienced a decline in consolidated adjusted EBITDA by $27 million year-over-year, despite exceeding its guidance by $9 million. Looking forward, Sinclair anticipates a slight decrease in media revenues for the second quarter of 2025 due to macroeconomic uncertainties affecting advertising visibility. In corporate developments, Sinclair announced the appointment of Daniel Maas as Vice President of Business Development for AMP (OTC:AMLTF) Media, aiming to expand its digital content offerings. Additionally, Sinclair shareholders elected nine directors, including key executives, and ratified PricewaterhouseCoopers LLP as the auditor for fiscal year 2025. The shareholders also approved an amendment to broaden the definition of "Permitted Transferees" for the company’s Class B Common Stock. Analyst firms have not recently upgraded or downgraded Sinclair’s stock, but the company remains optimistic about potential regulatory changes that could impact the broadcasting industry positively.

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