Sinclair Broadcast Group is reportedly considering selling more than 30% of its broadcast stations according to CNBC.
The broadcast group, which owns 185 stations in 86 markets has already identified about 60 stations it could sell, according to CNBC’s source, who added that the station group has hired Moelis to broker the transactions. The stations are affiliates of Fox, NBC, ABC, CBS and the CW and if sold together their average revenue for 2023 and 2024 is an estimated $1.56 billion, according to the source. The stations are located in Minneapolis; Portland, Ore.; Pittsburgh; Austin, Texas and Fresno, Calif., among others. Bloomberg has previously reported that the company is also considering a sale of the Tennis Channel.
