Update 1: Sinclair Broadcast Reports Quarter Loss

[davidinalameda]

http://www.forbes.com/business/businesstech/feeds/ap/2005/02/10/ap1820065.html

Television-station operator Sinclair Broadcast Group Inc. fell to a loss in its latest quarter due to a $44.1 million write-down of goodwill.

The company also said it expects first-quarter revenue below year-ago levels amid a continued slowdown in automobile advertising, its largest advertising category, as well as declines in telecommunications and movie advertising.

The Baltimore-based television broadcast company on Thursday said it lost $2.59 million, or 6 cents a share, on revenue of $188.1 million in the fourth quarter.


boo-freaking hoo

[fooj]

1. What a pity!

[stanwyck]

3. karma

they wouldn't permit the airing of the names of the soldiers who have died in Iraq. Right. We shouldn't be allowed to know....who these men and women are...who have died while in our country's military service. Afterall, Sinclair is in the news business.

[LynnTheDem]

2. AWWWWWWWWWWwwwwwwwwwwwwwwww!

All your Q reports are gonna show losses, Sinclair. You wanna be a rightwing partisan lying propaganda-pushing bush-pimp, do what all the other rightwing partisan lying propaganda-pushing bush-pimps do; get White House press creds and become a fake reporter.

[thefloyd]

4. Write down in Goodwill

is interesting. Goodwill is a value of a companies intangibles. I wonder if Sinclair is looking for a buyer?

[LynnTheDem]

5. Had that thought; goodwill usually only written down when a co is sold.

Difference between book worth & purchase price.

But goodwill can be written down if it's deemed obviously overstated; so his public auditors may have demanded the write-down.

VERY interesting, either way.

[thefloyd]

7. What do you think about Sinclair

increasing the dividend based on the sale of an asset. If that is not a
recipe of failure I do not know what is

[LynnTheDem]

10. How and what kind of dividend, and on CS or PS?

I'm not aware of the details on that. But normally a company wouldn't increase any dividend based on the sale of an asset. Unless the value received was bloody huge...selling off a nation or something, lol!

My guess -and as I don't know the financial details of this dividend it's only a guess- would be an increase to keep SHers happy & quiet, or it's the bush/Enron accounting trick of paying out funds before the known upcoming crash. Steal the money before the arsonist burns down the bank & bank records.

[paineinthearse]

6. FCC deals Sinclair a blow

See http://www.democraticunderground.com/discuss/duboard.php?az=post&forum=109

[Roland99]

8. Uh...bad link...that's a link to post a new msg.

[Roland99]

9. Soros should buy it and create some true independent media