Sinclair Broadcast Group Inc.’sCEO does not believe its local television stations will lead the company’s growth in the next decade, but instead sees investments in industries like real estate, pet cremation, funeral services and digital marketing solutions as the more immediate path to increased revenue.
Sinclair (NYSE: SBGI) recently announced plans to reorganize and remove the word “broadcast” from its name. The plan includes Sinclair separating its local television stations — which includes local ABC affiliate WJLA, based in Arlington, as well as — from the rest of the company, creating two subsidiaries: Sinclair Broadcast and Sinclair Ventures. Sinclair Ventures holds a variety of the company’s nonmedia holdings, as well as the Tennis Channel.
CEO Chris Ripley, in a recent interview with sister publication Baltimore Business Journal, said that while the company has no plans to abandon the local broadcast side of the business, the assets controlled by Sinclair Ventures are expected…
Read the full story from the Washington Business Journal.
