The executive secretary of Sinclair Broadcasting Group Inc. sold $2.8 million of shares in the company.
J. Duncan Smith sold 16,471 shares at a price of $40.29 and another 53,529 shares at a price of $40.10, according to a Form 4 filed with the Securities and Exchange Commission.
After gifting his shares, Smith only has 185 shares left.
Sinclair Broadcasting was founded in the 1970s and is one of the leading broadcast companies in the United States. They engage viewers with compelling news, entertainment and sports content, while providing their advertisers means to connect with mass audiences.
On March 1, it was reported that Sinclair and Tribune Media, one of the largest television broadcasting companies, have been communicating regarding a possible a merger or acquisition.
Sinclair Broadcasting shares closed on March 1 at $41.80, up $1.25 or 3.08 percent increase, for the day.
The filing can be found here.
