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Sinclair, Now A Major Player In Sports, Posts Strong Q1

Sinclair Broadcast Group, which last week reached a deal to buy 21 RSNs from Disney, posted "stronger revenue" in Q1 as media operations "increased in the quarter" ending March 31. Revenue rose 8.5% to $722.1M, "above the consensus forecast" of $706.7M. Revenue from Super Bowl LIII was $5M in the period, less than the $7M "generated a year earlier from the Super Bowl" and '18 Pyeongchang Games. During the quarter, Sinclair "announced a joint venture" with the Cubs for the '20 launch of Marquee Sports Network (WALL STREET JOURNAL, 5/9).

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