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Sinclair credits RSNs purchase as Q1 revenue grows 123% to US$1.6bn

Getty ImagesSinclair Broadcast Group’s revenue surpassed US$1. 6 billion for the first quarter of 2020, representing a 123 per cent mark-up compared to the same period last year. According to Sinclair’s latest financial statement, the increase was driven by the US media company’s US$10. 6 billion acquisition of 21 regional sports networks (RSNs) from Disney last August. Speaking during an earnings call on 6th May, Sinclair chief executive Chris Ripley assured investors that the RSNs would continue to be a “strategic asset” as the company navigates the commercial impact of the ongoing coronavirus health crisis. With National Basketball Association (NBA) and National Hockey League (NHL) games among Sinclair’s portfolio of local sports rights in the US, Ripley did warn that the ongoing sports hiatus will likely impact Sinclair’s second-quarter advertising revenues.

Read more at:
https://www.sportspromedia.com/news/sinclair-rsns-2020-q1-revenue-growth-coronavirus-chris-ripley

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