BALTIMORE—As it announced new debt offerings, Sinclair, Inc. released released preliminary unaudited Local Media segment fourth-quarter 2024 media revenues and certain media operating expenses that show the company will product slightly lower than expected local media revenue. The preliminary figures show distribution revenue higher than expected while non-political ad revenue indicated a weakening ad market.
Most 2025 projections of local broadcast-TV ad revenue have indicated that core advertising excluding political will decline for the industry in 2025.
Sinclair expects Local Media segment media revenues to be $931 million to $933 million for the three months ended Dec. 31, 2024, down modestly from the company’s previously disclosed guidance of $936 million to $945 million. This includes political advertising revenue of approximately $203 million (versus previously disclosed guidance of $204 million), core (nonpolitical) advertising revenue of $300 million to $301 million (versus previously disclosed guidance of $307 million to $315 million) and distribution revenue of $392 million to $393 million (versus guidance of $386 million to $388 million), as well as other media revenue of approximately $37 million (versus previously disclosed guidance of $38 million), the company reported.
In addition, the company expects fourth-quarter 2024 Local Media segment combined preliminary media programming and production expenses and media selling, general and administrative expenses of $580 million to $582 million, which compares favorably to the company’s previously disclosed guidance of a total of $589 million to $590 million for the total of these two expense line items.
The company plans to report its fourth-quarter 2024 earnings results at 4 p.m. ET on Wednesday, Feb. 26, 2025, followed by a conference call to discuss the results at 4:30 pm ET. The preliminary results are unaudited estimates only and are subject to revision, the company stressed.
