Bankruptcy looms for troubled 58-station operator:
http://www.google.com/hostednews/ap/article/ALeqM5gP9Vql-E4URWo3L1vFj9VKr1l3KgD99DU2CG2
Conference call scheduled for Tuesday:
http://www.sbgi.net/site_mgr/temp/convert conf call_x29f8mpg.shtml
Lots of juicy details in Sinclair's 8-K filing:
http://sbgi.edgarpro.com/redirect_f...rtBy=receivedate&AD=D&startrec=1&res=10&pdf=0
One thing mentioned in the 8-K but not in the AP story is that Sinclair's ABC affiliation agreements run out at the end of the year; Hunt Valley must be terrified of the prospect of losing the ABC affiliation in St. Louis. The Mouse can't be happy to have an affiliate (KDNL) in market #20 without local news; ratings for World News and GMA in the Gateway City are abysmal.
Sinclair has quite a few My Network TV affiliates in its portfolio; that network will cease to exist in its current form this fall.
Followers of Sinclair know that Cunningham Broadcasting is a shell corporation controlled by the Smith family (as is Sinclair) to skirt FCC regulations on ownership limits. Not surprising, then, that a possible BK filing by Cunningham (the apparent trigger for the 8-K disclosure) would cause Sinclair to seek protection as well. I'll be making popcorn around 3PM tomorrow...and you?
http://www.google.com/hostednews/ap/article/ALeqM5gP9Vql-E4URWo3L1vFj9VKr1l3KgD99DU2CG2
Conference call scheduled for Tuesday:
http://www.sbgi.net/site_mgr/temp/convert conf call_x29f8mpg.shtml
Lots of juicy details in Sinclair's 8-K filing:
http://sbgi.edgarpro.com/redirect_f...rtBy=receivedate&AD=D&startrec=1&res=10&pdf=0
One thing mentioned in the 8-K but not in the AP story is that Sinclair's ABC affiliation agreements run out at the end of the year; Hunt Valley must be terrified of the prospect of losing the ABC affiliation in St. Louis. The Mouse can't be happy to have an affiliate (KDNL) in market #20 without local news; ratings for World News and GMA in the Gateway City are abysmal.
Sinclair has quite a few My Network TV affiliates in its portfolio; that network will cease to exist in its current form this fall.
Followers of Sinclair know that Cunningham Broadcasting is a shell corporation controlled by the Smith family (as is Sinclair) to skirt FCC regulations on ownership limits. Not surprising, then, that a possible BK filing by Cunningham (the apparent trigger for the 8-K disclosure) would cause Sinclair to seek protection as well. I'll be making popcorn around 3PM tomorrow...and you?
