Please ensure Javascript is enabled for purposes of website accessibility
Fresno's KMPH 26 Could Be on the Block in Possible Sinclair Broadcast Selloff
News
By News
Published 2 weeks ago on
May 14, 2024

Sinclair Broadcast Group mulls selling 30% of its stations, including KMPH 26 in Fresno. The company has lost more than 70% of its market value in the last five years. (Shutterstock)

Share

Getting your Trinity Audio player ready...

Sinclair Broadcast Group, one of the largest owners of broadcast stations in the U.S., is reportedly considering selling more than 30% of its 185 owned or operated stations.

The media giant has enlisted the services of investment bank Moelis to evaluate potential asset sales, including the stations and the Tennis Channel. The stations up for sale include affiliates of Fox, NBC, ABC, CBS, and the CW, and are located in major markets such as Minneapolis, Portland, Pittsburgh, Austin, and Fresno, CNBC reported.

Sinclair CEO Chris Ripley stated during a recent earnings conference call that the company is open to divesting parts of its business.

“As we’ve always stated, we have no sacred cows,” Ripley said. “We want to unlock the sum of the parts valuation that we think we’re grossly undervalued for. And to the extent that asset sales makes sense in order to unlock that value and help us de-lever, then that’s something that we’d be open to as well.”

This move comes after Sinclair’s recent restructuring, which saw the company split into two operating units: the broadcast business and Sinclair Ventures, which includes non-media holdings. The company has lost more than 70% of its market value in the last five years, with a current market capitalization of about $975 million and an enterprise value of about $4.7 billion.

Read more at CNBC.

RELATED TOPICS:

DON'T MISS

Former Fresno Farm Water Manager Pleads Guilty to Federal Water Theft Conspiracy

DON'T MISS

Local Dealership Family Buys Fresno Infiniti. Where Is It Going?

DON'T MISS

California Bill Would End ‘Gender Police’ Reports From Public Schools to Parents

DON'T MISS

Councilmembers Want Answers on Lawsuit. We Have Them.

DON'T MISS

Fresno Toddler Receives Support With a Donated Mobility Ramp

DON'T MISS

Fresno Catholic Diocese Will File Bankruptcy Because of Sexual Abuse Claims: Bishop Brennan

DON'T MISS

Storm Damage Forces Removal of US-Built Gaza Pier for Repairs

DON'T MISS

Lexi Thompson, a 15-Time Winner on the LPGA Tour, Is Retiring From Full-Time Golf at 29

DON'T MISS

Trump Prosecutor Emphasizes ‘Cover-Up’ in Closing Arguments; Defense Targets Key Witness

DON'T MISS

Clovis Detectives Quickly Arrest Suspects in Construction Equipment Theft at Church

UP NEXT

Local Dealership Family Buys Fresno Infiniti. Where Is It Going?

UP NEXT

Councilmembers Want Answers on Lawsuit. We Have Them.

UP NEXT

Fresno Toddler Receives Support With a Donated Mobility Ramp

UP NEXT

Fresno Catholic Diocese Will File Bankruptcy Because of Sexual Abuse Claims: Bishop Brennan

UP NEXT

Storm Damage Forces Removal of US-Built Gaza Pier for Repairs

UP NEXT

Lexi Thompson, a 15-Time Winner on the LPGA Tour, Is Retiring From Full-Time Golf at 29

UP NEXT

Clovis Detectives Quickly Arrest Suspects in Construction Equipment Theft at Church

UP NEXT

Fresno ‘Flirts’ with Hot Weather. When Will Triple Digits Arrive?

UP NEXT

Albert Ruddy, Oscar-Winning Producer of ‘the Godfather’ and ‘Million Dollar Baby,’ Dies at 94

UP NEXT

Who Bears Some Blame for High CA Gas Prices? Look in the Mirror

Councilmembers Want Answers on Lawsuit. We Have Them.

6 hours ago

Fresno Toddler Receives Support With a Donated Mobility Ramp

7 hours ago

Fresno Catholic Diocese Will File Bankruptcy Because of Sexual Abuse Claims: Bishop Brennan

7 hours ago

Storm Damage Forces Removal of US-Built Gaza Pier for Repairs

8 hours ago

Lexi Thompson, a 15-Time Winner on the LPGA Tour, Is Retiring From Full-Time Golf at 29

9 hours ago

Trump Prosecutor Emphasizes ‘Cover-Up’ in Closing Arguments; Defense Targets Key Witness

9 hours ago

Clovis Detectives Quickly Arrest Suspects in Construction Equipment Theft at Church

9 hours ago

Fresno ‘Flirts’ with Hot Weather. When Will Triple Digits Arrive?

10 hours ago

Albert Ruddy, Oscar-Winning Producer of ‘the Godfather’ and ‘Million Dollar Baby,’ Dies at 94

10 hours ago

Who Bears Some Blame for High CA Gas Prices? Look in the Mirror

10 hours ago

Former Fresno Farm Water Manager Pleads Guilty to Federal Water Theft Conspiracy

Dennis Falaschi — indicted two years ago in an alleged $25 million federal water theft — pleaded guilty to a single count of conspiring to s...

4 hours ago

4 hours ago

Former Fresno Farm Water Manager Pleads Guilty to Federal Water Theft Conspiracy

5 hours ago

Local Dealership Family Buys Fresno Infiniti. Where Is It Going?

6 hours ago

California Bill Would End ‘Gender Police’ Reports From Public Schools to Parents

6 hours ago

Councilmembers Want Answers on Lawsuit. We Have Them.

7 hours ago

Fresno Toddler Receives Support With a Donated Mobility Ramp

7 hours ago

Fresno Catholic Diocese Will File Bankruptcy Because of Sexual Abuse Claims: Bishop Brennan

8 hours ago

Storm Damage Forces Removal of US-Built Gaza Pier for Repairs

9 hours ago

Lexi Thompson, a 15-Time Winner on the LPGA Tour, Is Retiring From Full-Time Golf at 29

MENU

CONNECT WITH US

Search

Send this to a friend