Sinclair Raises Political Ad Revenue Expectations

By Stephen Nakrosis

Sinclair on Thursday said it was increasing its political advertising revenue guidance for the third quarter and full year.

The broadcasting company said it now expects third-quarter political advertising revenue of $140 million to $145 million, up from previous guidance for $113 million to $128 million. For the full year, Sinclair is expecting political advertising revenue of $442 million to $469 million, up from $385 million to $410 million.

With just over seven weeks until the Presidential election between Vice-President Kamala Harris and former President Donald Trump, polls indicate the outcome will be close.

The company said the midpoint is down slightly for local media segment third-quarter core advertising revenue. It now expects $285 million to $293 million, from a previous range of $288 million to $300 million, citing the crowd-out from increased political advertising.

Sinclair, owner of the Tennis Channel and other stations, operates and provides services to television stations in 86 markets affiliated with all the major broadcast networks.

Write to Stephen Nakrosis at stephen.nakrosis@wsj.com

(END) Dow Jones Newswires

September 19, 2024 17:01 ET (21:01 GMT)

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