Deborah Yeboah's questions to Sinclair Inc (SBGI) leadership • Q4 2024
Question
Deborah Yeboah of Wells Fargo inquired about Sinclair's potential M&A strategy, asking if the company would be a buyer or seller amid potential FCC deregulation and how much of its Ventures cash might be allocated to acquisitions versus shareholder returns.
Answer
President and CEO Christopher Ripley explained that Sinclair is optimistic about deregulation and is considering three types of M&A: buying in JSAs, station swaps, and large-scale transactions. He stated the company is prepared to be either a buyer or a seller to maximize shareholder value. Ripley also clarified that while the cash at the Ventures segment provides flexibility, it is not necessarily earmarked for M&A, and shareholder returns are also being actively considered now that the refinancing is complete.