Sinclair Discussing Going Private
Believing Sinclair’s stock price undermines its performance, Sinclair Broadcast Group CEO David Smith said the company has discussed going private. Smith’s revelations occured on a conference call discussing the company’s first quarter results, which saw broadcast revenues up 8.5%.
"Anybody that’s looking at the Sinclair stock today would have to say there’s a tremendous amount of value," Smith told investors. "[But] for whatever reason, the valuations just don’t show up from a market standpoint in our equity."
MediaPost has more on Smith’s musings [registration required].