Attempting the business version of the witness protection program, Sinclair Broadcast Group is changing its name to “Sinclair Inc”. In its attempt to reorganize following the disastrous purchase and running into bankruptcy of the regional sports networks, Sinclair thinks this will save the company from almost guaranteed financial ruin? Really?
https://www.baltimoresun.com/business/b ... story.html
Instead of running its “broadcast” division separately, it is merging its TV stations with the RSNs. What that means is its local TV stations will need to subsidize the ongoing operating losses from the RSNs/Diamond Sports Group.
If you were ever considering buying shares of Sinclair Inc. — DON’T! These “financial geniuses” like Chris the Ripper and David “I love prostitutes” Smith are running this company into the ground.
But sure, a name change will fix everything. Idiots!
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New Name, Same Old Sinclair
Re: New Name, Same Old Sinclair
Following today’s announcement, Wall Street gave “Sinclair Inc” a big middle finger with dare dropping nearly five percent. Even investors don’t believe in Sinclair’s reorganization plan.
Re: New Name, Same Old Sinclair
In Sinclair’s announcement, it says it is positioning itself to become a tax exempt organization. That’s laughable since the sole purpose of being traded on the stock market is to push its earnings up for stock holders. There is zero chance that Sinclair Inc will become a “charity” as a commercial TV broadcaster. What are these guys smoking?
https://www.ftvlive.com/sqsp-test/2023/ ... ree-status
Plus in the internal memo distributed to staff yesterday, Chris the Ripper made some very declarative statements… except for two: he doesn’t expect compensation or staffing levels to be affected by the reorganization.
How do we know he’s lying? Oh, maybe the layoffs we’ve seen at 25-66-46 and the newscast cancellations and replacing with the National Desk corporate propaganda newscasts.
You’d have to believe this “reorganization” just materialized to not connect the dots. These changes — both at the local and corporate levels— have been in the works for months now and are clearly connected.
No expected layoffs? Tell that to the 9 people sacked at Sinclair’s Macon, Georgia station:
https://www.ftvlive.com/sqsp-test/2023/ ... o-the-curb
“No expected layoffs”? You can’t believe a single word from the corporate Death Star.
https://www.ftvlive.com/sqsp-test/2023/ ... ree-status
Plus in the internal memo distributed to staff yesterday, Chris the Ripper made some very declarative statements… except for two: he doesn’t expect compensation or staffing levels to be affected by the reorganization.
How do we know he’s lying? Oh, maybe the layoffs we’ve seen at 25-66-46 and the newscast cancellations and replacing with the National Desk corporate propaganda newscasts.
You’d have to believe this “reorganization” just materialized to not connect the dots. These changes — both at the local and corporate levels— have been in the works for months now and are clearly connected.
No expected layoffs? Tell that to the 9 people sacked at Sinclair’s Macon, Georgia station:
https://www.ftvlive.com/sqsp-test/2023/ ... o-the-curb
“No expected layoffs”? You can’t believe a single word from the corporate Death Star.