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SBD/May 8, 2014/Finance
Super Bowl Ad Revenue Boosts 21st Century Fox' Q3 Profits, Outweighs Spending On FS1
Published May 8, 2014
SINCLAIR METHOD: In Baltimore, Lorraine Mirabella reports Sinclair Broadcast Group "boosted profit and revenue in the first quarter, citing better-than-expected spending on political advertising, strong gains from Super Bowl and Olympics ads, and lower expenses at many of the company's television stations." The company reported Q1 income of $27.2M, nearly 60% more than the $17M it "earned in the first three months" of '13. The Super Bowl, which "aired on Sinclair's 31 Fox stations," generated $8.2M in sales, compared with $2.5M in last year's first quarter, when the event "aired on Sinclair's 11 CBS stations." The Olympics "aired on the company's 12 NBC stations," bringing in $3.7M (Baltimore SUN, 5/8). At presstime, shares of Sinclair were trading at $27.85 per share, down 1.0% from the close of business yesterday (THE DAILY).