(02-26-2021 12:25 PM)JRsec Wrote:  

(02-26-2021 10:32 AM)orangefan Wrote:  Sinclair Plunges on Dim Outlook for Sports Networks
https://www.yahoo.com/finance/news/sincl...05147.html

Quote:Sinclair Broadcast Group Inc. suffered its worst stock rout since last June after giving a bleak outlook for its sports networks, a business it acquired for $9.6 billion less than two years ago.

The company’s forecast for the networks was “really pretty abysmal,” with the midpoint representing at least a 30% drop from this past year, said Geetha Ranganathan, an analyst at Bloomberg Intelligence.

The sports-network business is suffering from cord cutting, “and that’s not going to stop any time soon,” she said. Sinclair also lost some distributors, including Dish Network Corp., Alphabet Inc.’s YouTube TV and Walt Disney Co.’s Hulu.

“There’s just this big cloud hanging over the sports networks,” she said.

This is what happens when you buy a dying model a year or two before a pandemic shuts down a large portion of your inventory.

...and then try to raise the price.

(02-26-2021 02:53 PM)Hokie Mark Wrote:  ...and then try to raise the price.

Substantially.

F*** Sinclair. They do awful counterproductive work on their news conglomerate network too. Scripting then force feeding national news into hundreds of local affiliates just pollutes the locals with the same fetid garbage that the federal level news drowns in on a daily basis.

(02-26-2021 02:55 PM)georgia_tech_swagger Wrote:  

(02-26-2021 02:53 PM)Hokie Mark Wrote:  ...and then try to raise the price.

Substantially.

F*** Sinclair. They do awful counterproductive work on their news conglomerate network too. Scripting then force feeding national news into hundreds of local affiliates just pollutes the locals with the same fetid garbage that the federal level news drowns in on a daily basis.

Agreed. Couldn't happen to a better group of folks. Disney really dodged a bullet when the FTC or DOJ required them to divest this asset. The other former Fox cable assets acquired in the deal all provided programming for the Disney streaming services, including Nat Geo for Disney+, FX for Hulu, and its international networks for Star and Hotstar. The Fox RSNs would have increased Disney's exposure to the very risk it was trying to transition away from with its streaming strategy -- revenue attrition in its linear networks. The path for replacing declining linear network revenue with streaming revenue is far murkier for sports networks like the Fox RSNs and ESPN than entertainment networks.