RICHMOND, Va. - Sinclair Broadcast (NASDAQ:SBGI) Group, Inc. (NASDAQ: SBGI) has named Shuneca Harrington as the new Vice President and General Manager of WRLH/FOX located in Richmond, VA. Harrington rejoins the company after a tenure as Director of Sales at WRAL/NBC and WRAZ/FOX in Raleigh, NC.
Rob Weisbord, Sinclair's Chief Operating Officer and President of Local Media, expressed confidence in Harrington's capabilities, emphasizing her data-driven approach and creative leadership skills. Weisbord anticipates that Harrington will contribute significantly to the station's growth and success in the Richmond market.
Harrington's career in media began at Sinclair with an Account Executive role at WLFL in Raleigh. She has accumulated extensive experience in sales leadership positions across various markets, including Columbus, GA, Portsmouth, VA, and Raleigh, NC.
Upon her appointment, Harrington shared her enthusiasm for returning to Sinclair and leading the team at WRLH. She looks forward to engaging with the Richmond community and working with the station's viewers, advertisers, and partners.
Harrington's academic background includes a BA in Mass Communications from Brenau University. Her commitment to public service is evident through her involvement in Delta Sigma Theta Sorority and her volunteer work with United Way.
Sinclair Broadcast Group is known for its diversified media operations, providing services to 185 television stations across 86 markets, and owning multiple networks and regional sports network brands. The company also operates NewsON, a significant streaming aggregator for local news content.
This leadership change at WRLH is based on a press release statement from Sinclair Broadcast Group.
InvestingPro Insights
As Sinclair Broadcast Group, Inc. (NASDAQ: SBGI) welcomes Shuneca Harrington to spearhead WRLH/FOX, the financial landscape of the company presents a mixed picture. Sinclair's management has shown confidence in its strategies by aggressively buying back shares, a move that often signals a belief in the company's undervaluation or strong future prospects. Moreover, the company has recently seen a significant return over the last week, with a price total return of 8.89%, showcasing a potential uptick in investor confidence.
From a financial standpoint, Sinclair's market capitalization stands at 856.72 million USD, reflecting its current market valuation. Despite experiencing a revenue decline of 20.21% in the last twelve months as of Q4 2023, the company maintains a substantial gross profit margin of 44.48%. This indicates that while top-line growth has been challenged, Sinclair is still able to retain a significant portion of its sales as gross profit.
The dividend yield of 7.42% underscores Sinclair's commitment to returning value to shareholders, a sentiment further bolstered by the company's history of maintaining dividend payments for 15 consecutive years. This could be particularly attractive to income-focused investors.
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