Sinclair Shareholders Have Lost More than Half a Billion Dollars in Stock Value Since the Tribune Merger Was Announced

Sinclair’s Value by The Numbers 


WHAT THEY OWN 

  • As of March 9, 2017, David D. Smith owned 10,921,496 shares of Sinclair Broadcast Group Class A stock. Frederick G. Smith owned 4,059,831 shares, J. Duncan Smith owned 7,105,794 shares, and Robert E. Smith owned 6,487,451. Since then, the Class A stock ownership of the brothers has remained largely consistent with the exception of a few small trades. [SCHEDULE 13D, Sinclair Broadcast Group, 03/09/17]

WHAT IT WAS WORTH ON THE DAY THE MERGER WAS ANNOUNCED

WHAT IT IS WORTH NOW AND HOW MUCH THEY HAVE LOST

  • Altogether, shareholders have lost a total of $540,520,660 in Sinclair Broadcast Group Class A stock value since Sinclair announced their intended merger with Tribune Media Company. [Sinclair Broadcast Group, Inc. (SBGI), Yahoo Finance, accessed 07/16/18]
  • Altogether, the brothers combine for a total loss of $201,736,479 in Sinclair Broadcast Group Class A stock value since announcing their intended merger with Tribune Media Company. [Sinclair Broadcast Group, Inc. (SBGI), Yahoo Finance, accessed 07/16/18]

HOW THAT COMPARES

  • Since Sinclair Broadcast Group’s intended merger with Tribune Media was announced, the value of Sinclair’s Class A stock is down more than 20.1 percent. During the same period, the Dow Jones Industrial Average is up 19.54, which means Sinclair is lagging behind the DOW significantly. [Dow Jones Industrial Average (^DJI)Yahoo Finance, accessed 07/17/18.]
  • Even compared to the rest of the broadcasting industry, Sinclair is floundering. On July 17, 2018, Zacks Equity Research reported that “the company’s stock… has lost 12.6% over the past year against the 35.6% gain of the industry.” [Zacks Equity Research, “Sinclair-Tribune Deal in Trouble as FCC Raises Concerns,” Nasdaq.com, 07/17/18]

 

HOW THE NUMBERS BREAKS DOWN

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