Our timing on adding Sinclair Broadcast Group (SBGI) to Northlake’s portfolio proved poor. Over the past few weeks, we sold SBGI at a loss and reinvested in Nexstar Media Group (NXST). Like SBGI, NXST owns local TV stations around the country, generally in small to mid-size markets. The bull case is also similar: extraordinarily high […]
Sinclair Broadcasting (SBGI) reported 1Q17 earnings in line with analyst estimates. Guidance for the second quarter appears a little light although management reiterated all guidance for 2017 and 2018 suggesting it is mostly timing issues. The stock is responding poorly to the earnings report and was falling heading into the report. The timing of Northlake’s […]
Sinclair Broadcasting (SBGI) has been added to Northlake’s individual stock portfolio. We expect transformational acquisitions to increase the company’s free cash flow by 25-50% over the next two years. Free cash flow per share could average $6-7 on a pro forma basis for the 2017/2018 TV station cycle. We believe this will drive the shares […]
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