U.S. TV station giantSinclair Broadcast Group reported "stronger-than-expected" political advertising revenue in its third quarter and recorded a$4.23 billionimpairment charge related mostly to its regional sports networks business.
Political ad revenue of $109 millionin the third quarter was up sharply from the $6 millionin the year-ago period "due to 2020 being a presidential election year," the company said on Wednesday.
The firm, led by president and CEO Chris Ripley, operates and/or provides services to 190 TV stations in 88 markets, and owns and/or operates 23 regional sports network brands.
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