Excerpted from tvnewscheck.com
Sinclair Broadcast Group this morning reported that its fourth quarter 2018 media revenues grew 22.5% to $848.9 million from $693.1 million in 4Q 2017.
Breaking down the 3Q media revenue:
- Political revenues were $149.6 million versus $15.5 million in 4Q 2017, a non-election year.
- Revenues from digital businesses increased 22.5%.
- Distribution revenues were $334.1 million versus $299.9 million.
- The company’s total 4Q revenues grew 25.4% to $893.3 million from $712.5 million in 4Q 2017.
Sinclair’s 4Q operating income was $263.0 million, including $3 million of legal, regulatory and other non-recurring costs, versus operating income of $357.6 million in the prior year period.
The company’s net income was $206.2 million, versus net income of $443.5 million in the prior year period.
Diluted earnings per common share were $2.10 as compared to $4.32 in the prior year period.
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