10 Best Broadcasting Stocks to Buy

7. Sinclair Inc. (NASDAQ:SBGI)

Market Cap: $943.64 million

Number of Hedge Fund Holders: 10

Sinclair Inc. (NASDAQ:SBGI) is a telecommunications conglomerate and a leading television broadcasting company that provides local news and entertainment, committed to quality journalism.

It is expanding its podcast division with new sports shows featuring top athletes and coaches. It aims to provide exclusive access to the stories of athletes and games. The company has 183 operating stations covering 38% of US television households. Over 50% of their news operations rank number one or two.

The company believes that 80% of adults (18 or older) spend an average of 4 hours per day watching broadcast television. Live sports programming is one of the most important assets here. 97/100 most-watched telecasts in 2023 were on broadcast TV, with 96 being sports content. Therefore, it expects strong sports ratings from the biggest events of the year, as evidenced by the Paris Summer Olympics ratings on NBC, which are up 80% compared to the 2021 games.

By August, the company had $146 million in political advertising booked for the second half of 2024, almost double the amount in 2020. Driven through these events, the Q2 2024 revenue also looked good at $829.00 million, projecting an 8% year-over-year growth. The earnings per share were $0.27.

Sinclair Inc. (NASDAQ:SBGI) partnered with Feeding America to help provide 1.2 million meals to children and families, with $25,000 donations to the campaign. It also won the National Edward R. Murrow Awards for outstanding journalism at WCHS and WPDE television stations. Earlier this year, 15 of its content centers were honored with Regional Edward R. Murrow Awards. Such moves and achievements highlight that the company is positioned for further growth, making it a top broadcasting stock to buy. The company is held by 10 hedge funds, as of Q2 2024.