Sinclair Broadcast Group, Inc. (Nasdaq: SBGI) announced today that its Board of Directors has approved an additional $150.0 million share repurchase authorization to be accessed once its existing authorization is exhausted. Pursuant to the authorization, the Company may repurchase Class A common shares, from time to time, in the open market or through private transactions. The Company currently has approximately $58 million of remaining capacity under its existing authorization.
Sinclair is one of the largest and most diversified television broadcasting companies in the country. Including pending transactions, the Company owns, operates and/or provides services to 173 television stations in 81 markets, broadcasting 481 channels and having affiliations with all the major networks. Sinclair is the leading local news provider in the country, as well as a producer of live sports content. Sinclair's content is delivered via multiple-platforms, including over-the-air, multi-channel video program distributors, and digital platforms. The Company regularly uses its website as a key source of Company information which can be accessed atwww.sbgi.net.
