Sinclair owns a piece of YES Network.
On Wednesday afternoon Sinclair Broadcasting Group (SBG) released its fourth quarter earnings for 2020. And they weren’t great.
Sinclair owns and/or operates 21 regional sports network brands (RSNs), including a 20 percent equity stake in the Yankee Entertainment and Sports (YES) Network. SBG bought into YES in August of 2019.
Delays in the '21 NBA & NHL season openers resulted in a -$46m loss for Sinclair (owner of 21 RSNs) in Q4 (YoY). Lost game inventory in 2020 also resulted in 2020 distributor rebates equal to $420m, up $49m from Q3 estimates. #RSNs #mediarights pic.twitter.com/ZaEkvWHMZD
— Daniel Cohen (@AnotherDanCohen) February 24, 2021
We’ll see how the start of the NBA, NHL and (hopefully on time) MLB seasons help revenues in the first quarter of 2021. Obviously the full season inventory of games for the NHL and NBA seasons will never be realized for 2020-21 but baseball is planning on a full 162-game campaign.