This week it was announced that Sinclair Broadcasting Group will be reorganizing and will create a new publicly traded holding company for its broadcast and other assets.
This new holding company will be called Sinclair Inc. Sinclair will now have two different Sinclair Broadcast Group and Sinclair Ventures.
CEO Chris Ripley said: “We believe the new structure will provide greater flexibility for creating value within the company. The new structure simplifies the corporate structure and improves the transparency of financial disclosures on the value drivers of the company.”
He went on to say: “We believe these other assets, some of which are currently buried in the broadcast division, can receive greater visibility outside the ‘broadcast’ umbrella, while Sinclair Broadcast will become a broad-focused subsidiary for which stockholders can better value its true performance.”
“In short, we believe a holding company structure can unlock unrecognized value and provide structural flexibility for the growth and monetization of our current and potential future media and non-media businesses.”
The reorganization is not expected to yield many changes to the company’s directors, executive officers, or management. For now this seems to be more about a name change and overall structure of the company.