Sinclair, Comcast beat FCC clock, quietly sign retrans deal
Perhaps Comcast (Nasdaq: CMCSA), as the new owner of a broadcast group, was trying to lead the way for the cable industry. Perhaps Sinclair Broadcast Group (Nasdaq: SBGI), a long-time cable adversary, was wary of what the FCC might propose when it met to consider the retransmission dilemma. Whatever the case, the cable operator and the broadcaster sat down and negotiated a retransmission "agreement-in-principle" just moments before the FCC started considering retrans rules changes.
Covering 36 Sinclair TV stations in 22 markets over an unnamed time frame, the agreement, according to Television Broadcast, was "achieved quietly."
The deal met the approval of Wells Fargo analyst Marci Ryvicker who told the publication that one deal "gives us hope that (Sinclair's) other major contract coming due later this year (Cox Communications) will also be completed in a timely manner."
- Television Broadcast has this story