Sinclair’s Q3 Revenue Decline

Sinclair, the television broadcaster, reported a 16% decline in revenue for the third quarter, primarily due to weaker advertising income. According to The Desk, the company’s total revenue for Q3 was $773 million, with $765 million coming from its media business, which saw a 16% year-over-year dip.

Impact of Jimmy Kimmel Boycott

The boycott of Jimmy Kimmel’s show by Sinclair’s ABC stations, as well as those owned by Nexstar, made international headlines. As reported by The New York Times, the decision to pull the show was made after a controversial monologue, with both companies citing the remarks as insensitive.

Financial Results and Forecast

Sinclair’s financial results for Q3 showed a net loss, with the company forecasting fourth-quarter revenue between $815 million and $851 million. As outlined in Sinclair’s financial report, the company expects adjusted EBITDA to range from $132 million to $154 million for the fourth quarter.

Market Implications

The decline in revenue and the boycott of Jimmy Kimmel’s show have significant implications for the media industry. With the rise of streaming services and changing viewer habits, traditional broadcasters like Sinclair face increasing challenges in maintaining revenue and relevance.