NEOMatrix 1295 Posted April 2, 2014 Share Posted April 2, 2014 According to the Baltimore Sun, Sinclair Broadcasting Group has filed for Chapter 11 bankruptcy and will have all of its station sold off. David Smith has resigned and went off the grid. Link to comment Share on other sites More sharing options...
Samantha 2878 Posted April 2, 2014 Share Posted April 2, 2014 Fun (real) fact about Sinclair: they spent $2.1 billion on television station acquisitions through Dec. 31, 2013 (source: Sinclair 2013 10-K). Frankly a collapse down the road due to debt issues or a bad economy would not surprise me with this company. Link to comment Share on other sites More sharing options...
NEOMatrix 1295 Posted April 2, 2014 Author Share Posted April 2, 2014 Fun (real) fact about Sinclair: they spent $2.1 billion on television station acquisitions through Dec. 31, 2013 (source: Sinclair 2013 10-K). Frankly a collapse down the road due to debt issues or a bad economy would not surprise me with this company. I think it's coming soon and very soon. Link to comment Share on other sites More sharing options...
Mrtraveler01 737 Posted April 2, 2014 Share Posted April 2, 2014 Fun (real) fact about Sinclair: they spent $2.1 billion on television station acquisitions through Dec. 31, 2013 (source: Sinclair 2013 10-K). Frankly a collapse down the road due to debt issues or a bad economy would not surprise me with this company. I agree, out of all the April Fools day posts, this one would be the most believable just because of all the risk they're taking with piling on the debt to feed their ridiculous acquisitions. Especially considering they were close to filing for Chapter 11 back in 2009. Link to comment Share on other sites More sharing options...
MidwestTV 1173 Posted April 2, 2014 Share Posted April 2, 2014 If only! Hell. But serious question, how much in debt is Sinclair and how are they able to keep operating? Link to comment Share on other sites More sharing options...
Mrtraveler01 737 Posted April 2, 2014 Share Posted April 2, 2014 If only! Hell. But serious question, how much in debt is Sinclair and how are they able to keep operating? Raymie will probably be better able to answer it, but it seems like Sinclair's plan is to buy these stations with debt and hopefully pay off that debt and make a profit with the revenue these additional stations would make with retransmission fees and political advertising. It's a pretty stupid plan but like I said before, these are the same people that almost drove them into Chapter 11 bankruptcy. Link to comment Share on other sites More sharing options...
NEOMatrix 1295 Posted April 2, 2014 Author Share Posted April 2, 2014 Especially considering they were close to filing for Chapter 11 back in 2009. Sinclair nearly collapsed? You would think Massa David would've learned his lesson by now. Link to comment Share on other sites More sharing options...
Mrtraveler01 737 Posted April 2, 2014 Share Posted April 2, 2014 Sinclair nearly collapsed? You would think Massa David would've learned his lesson by now. Yep, seems just like yesterday. http://articles.latimes.com/2009/jul/15/business/fi-ct-sinclair15 http://www.post-gazette.com/business/businessnews/2009/07/15/Sinclair-Broadcast-could-face-Chapter-11/stories/200907150230 Link to comment Share on other sites More sharing options...
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