Sinclair up after report says firm explores selling about 30% of its broadcast stations

Sinclair

09/05/2024 19:23

(Updates)
    ** Shares of media firm Sinclair  SBGI.O  rise 17.5% to
$15.60
    ** CNBC reports Sinclair is looking to sell more than 30% of
its 185 owned or operated broadcast stations, citing people
familiar with the matter
    ** Co has hired Moelis as its investment banker and has
identified more than 60 stations in various regions of the
United States that it would be willing to sell - CNBC
    ** Sinclair did not immediately respond to a Reuters request
for comment, while Moelis declined to comment
    ** Up to last close, SBGI up ~2% YTD

 (Reporting by Jaspreet Singh in Bengaluru)
 ((Jaspreet.Singh@thomsonreuters.com ; https://twitter.com/i_jass))