12 Best Broadcasting Stocks to Buy Right Now

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7. Sinclair Inc. (NASDAQ:SBGI)

Number of Hedge Fund Holders: 18

Sinclair Inc. (NASDAQ:SBGI) is a major US media company that owns and operates local TV stations and digital platforms. It delivers local news and entertainment content, along with national networks like The Tennis Channel and sports programming.

The company’s core advertising revenue experienced a 1% year-over-year increase during Q3 2024, which was an achievement considering the record-high volume of political advertising. Additionally, political advertising revenue reached an all-time high at $138 million. Distribution revenues also saw a positive trend, increasing 5% year-over-year due to the successful renewal rate step-ups and new carriage agreements.

But Q4 is expected to see a decline in core advertising revenue of 5% to 7% due to the crowding-out effect of political advertising on normal advertisers. However, the company is positioned to grow based on its service expansions. For instance, PBS Reno and Sinclair Inc. (NASDAQ:SBGI) launched KNPB-VC in January. This is a new virtual ATSC 3.0 channel. ATSC 3.0 is the next-generation digital television standard in the US, also known as NEXTGEN TV. It offers viewers enhanced picture quality with Advanced HDR and improved accessibility. This launch allows viewers with NEXTGEN TVs to access PBS Reno’s programming seamlessly over the internet.

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