Sinclair Broadcast Group Inc (SBGI) SEC Filing 10-K Annual report for the fiscal year ending Thursday, December 31, 2015

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Sinclair Broadcast Group Inc
Ticker: SBGI CIK: 912752

Exhibit 99.1

News Release

Contact: Chris Ripley, Chief Financial Officer

Lucy Rutishauser, SVP-Corporate Finance & Treasurer

(410) 568-1500

SINCLAIR REPORTS FOURTH QUARTER 2015 FINANCIAL RESULTS


•	REPORTS $0.61 DILUTED EARNINGS PER SHARE


•	DECLARES $0.165 QUARTERLY DIVIDEND PER SHARE

BALTIMORE (February 24, 2016) -- Sinclair Broadcast Group, Inc. (Nasdaq: SBGI), the “Company” or “Sinclair,” today reported financial results for the three and twelve months ended December 31, 2015.

“Sinclair continues to introduce industry-leading initiatives that expand our viewing and advertising platforms. Most notable, we are creating low-cost original programming, adding unique news content, launching various network platforms, and expanding our digital strategies on multiple devices,” commented David Smith, President and CEO of Sinclair. “We continue to advocate for regulatory reform to allow broadcast television to compete on a level playing field with other forms of media, and we are making great strides on behalf of the industry to bring the Next Generation Broadcast Platform and its many potential business use cases to the consumer.

In January 2016, we announced the acquisition of Tennis Channel, one of the only independently-owned major sports networks. Unlike many cable networks that are secularly challenged, Tennis Channel is under-distributed yet has unique live sports content, a passionate fan base and an established brand. We have already secured commitments from multi-video program distributors expanding Tennis Channel’s distribution footprint from 30 million homes to 50 million to drive viewership, affiliate fees and advertising revenues.”

Three Months Ended December 31, 2015 Financial Results:


•	Total revenues decreased 0.3% to $611.8 million, versus $613.8 million in the prior year period, due to the absence of $68.5 million in political revenues in a non-election year.


•	Operating income, with the absence of political revenues and a $9.3 million one-time expense to terminate an inherited pension plan, was $124.2 million, a decrease of 40.5%, versus operating income of $208.9 million in the prior year period.


•	Net income attributable to the Company was $58.2 million, versus net income of $95.4 million in the prior year period.


•	Diluted earnings per common share were $0.61 as compared to $0.98 in the prior year period.

Year Ended December 31, 2015 Financial Results:


•	Total revenues increased 12.3% to $2.219 billion, versus $1.977 billion in the prior year period.


•	Operating income was $422.7 million, a decrease of 14.5%, versus operating income of $494.7 million in the prior year period.


•	Net income attributable to the Company was $171.5 million, versus net income of $212.3 million in the prior year period.


•	Diluted earnings per common share were $1.79 as compared to $2.17 in the prior year period.

The following information was filed by Sinclair Broadcast Group Inc (SBGI) on Wednesday, February 24, 2016 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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