Sinclair Broadcast Group has reissued its fourth quarter
forecast to reflect the improving economy. The broadcaster expects net broadcast
revenues to be approximately $153.8 million, or 6.5% lower than the previous
year's fourth quarter. This is an improvement over its guidance from Nov. 4,
which estimated net broadcast revenues to be $143.3 to $146.3 million, or 11.0%
to 12.8% down from the same period in 2008.
Auto advertising has fueled the improved forecast; Sinclair
expects the category to be down by approximately 4% in the fourth quarter
versus its prior estimate of a decrease in the high teen percents.
Asrecently as July, Sinclair discussed the possibility of entering into
bankruptcy protection.
Sinclair also reported that the affiliation agreements with ABC for nine
affiliated stations Sinclair owns and/or operates have been extended for one
month while the two sides continue to negotiate. The affiliation agreements had
been due to expire on Dec. 31, 2009.
Sinclair will report fourth quarter results on Feb. 17, 2010.
