-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, S2h28lN6gyYmCa6RHWPIkTA00mtY1bE6dXB5RBSPz7CF+9RUcEsK4Dv5zQyxcCQk z/oIXxSO0ao9S4dU3+YXzA== 0001005150-96-000362.txt : 19961023 0001005150-96-000362.hdr.sgml : 19961023 ACCESSION NUMBER: 0001005150-96-000362 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19961018 ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 19961022 SROS: NONE FILER: COMPANY DATA: COMPANY CONFORMED NAME: SINCLAIR BROADCAST GROUP INC CENTRAL INDEX KEY: 0000912752 STANDARD INDUSTRIAL CLASSIFICATION: TELEVISION BROADCASTING STATIONS [4833] IRS NUMBER: 521494660 STATE OF INCORPORATION: MD FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-26076 FILM NUMBER: 96646091 BUSINESS ADDRESS: STREET 1: 2000 WEST 41ST ST CITY: BALTIMORE STATE: MD ZIP: 21211 BUSINESS PHONE: 4104675005 MAIL ADDRESS: STREET 1: 2000 W 41ST ST CITY: BALTIMORE STATE: MD ZIP: 21211 8-K 1 FORM 8-K ================================================================================ SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of Report (Date of earliest event reported) October 18, 1996 Commission File Number 000-26071 SINCLAIR BROADCAST GROUP, INC. (Exact name of registrant) Maryland 52-1494660 (State of organization) (I.R.S. Employer Identification Number) 2000 West 41st Street, Baltimore, Maryland 21211 (Address of principal executive offices and zip code) (410) 467-5005 (Registrant's telephone Number) ================================================================================ ITEM 5. OTHER EVENTS Sinclair Broadcast Group, Inc., incorporates herein by reference the information contained in the press release filed as Exhibit 99 to this Current Report. ITEM 7. EXHIBITS Sequentially Exhibit No. Numbered Page ----------- ------------- 99 Press Release by Sinclair Broadcast Group, Inc., dated October 18, 1996 .......................... 5 SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. SINCLAIR BROADCAST GROUP, INC. BY: /s/ DAVID B. AMY ------------------------------ David B. Amy Chief Financial Officer/ Principal Accounting Officer Dated: October 21, 1996 EX-99 2 EXHIBIT 99 NEWS RELEASE - ------------ Contact: David Amy, Chief Financial Officer Patrick Talamantes, Dir. of Corporate Finance Phone: (410) 467-5005 SINCLAIR BROADCAST GROUP (SBGI) DISCUSSES THIRD QUARTER 1996 BROADCAST CASH FLOW October 18, 1996 -- Baltimore -- Sinclair Broadcast Group, Inc. (the "Company") announced today that it estimates pro forma broadcast cash flow (BCF) for the three months ended September 30, 1996 to be 4%-5% below the three months ended September 30, 1995 based upon a preliminary review of its operating results. On an actual basis, however, the Company's reported BCF will nearly double due to various acquisitions completed during 1996, including the River City acquisition. The loss of the Company's NBC affiliation in Raleigh, NC, and the loss of its Fox affiliation in Birmingham, AL, resulted in a decline in advertising revenues as the Company anticipated. The loss of the network affiliations in these markets resulted from the acquisitions by NBC and Fox, respectively, of stations in those markets. These factors coupled with a lack of growth in non-Olympics television advertising will result in the Company realizing flat pro forma third quarter 1996 revenues compared to third quarter 1995. The primary reason for the increase in costs was the higher quality syndicated programs the Company has purchased, which resulted in an increase in program payments during the third quarter of 1996 as compared to the same period of 1995. SBGI does, however, expect modest pro forma growth in revenues and BCF for the fourth quarter 1996 over the fourth quarter 1995. As previously discussed at the initial press conference announcing the River City acquisition, the Company expects $3-5 million in cost reductions on an annualized basis. The Company has not yet completed the agreements to realize these savings and they are not reflected in the Company's operating results. Sinclair Broadcast Group, Inc. is one of the nation's largest broadcast groups, owning and/or providing programming services to 28 television stations in 20 separate markets, and owning, providing sales and programming services to, or having options to acquire, 33 radio stations in 8 separate markets. The television group reaches 14.82% of U.S. television households and includes ABC, CBS, Fox, and UPN affiliates. The radio group is one of the top twenty groups in the United States. The matters discussed in this report are foward-looking statements. Such statements are subject to a number of risks and uncertainties, such as the impact of changes in national and regional economics, successful integration of acquired television and radio stations (including achievement of synergies and cost reductions), pricing fluctuations in local and national advertising and volatility in programming costs. Additional risk factors regarding the Company are set forth in the registration statement on Form S-3 filed with the Securities and Exchange Commission on September 18, 1996 (as amended). Page 5 of 5 -----END PRIVACY-ENHANCED MESSAGE-----