Sinclair Broadcast Announces A New Broadcast Affiliate Distribution Agreement With Tegna To Expand Clearances For Nest
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Sinclair Broadcast Group (NASDAQ:SBGI) has announced a new distribution agreement with TEGNA to expand the reach of its multicast network, The Nest, to 79% of US OTA TV households, making it available in 44 of the top-50 markets. This expansion includes 35 additional channels in major markets. Additionally, Sinclair's Comet network will be upgraded on TEGNA's KHOU TV in Houston. The Nest, launched in Oct '23, offers a variety of programming and is part of Sinclair's growing portfolio of multicast networks, which have seen significant year-over-year growth.
February 20, 2024 | 4:40 pm
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Sinclair Broadcast Group's new agreement with TEGNA significantly expands the reach of The Nest, making it available in 44 of the top-50 US markets and potentially boosting Sinclair's advertising revenue and market presence.
The expansion of The Nest to 79% of US OTA TV households through the agreement with TEGNA significantly increases Sinclair's market coverage, potentially attracting more advertisers due to the increased audience reach. This could lead to higher advertising revenues for Sinclair. Additionally, the upgrade of the Comet network in Houston represents a strategic improvement in a major market. The overall growth of Sinclair's multicast networks, as indicated by the year-over-year growth figures, suggests a positive trend that could be further bolstered by this expansion.
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