Sinclair reports media revenue above expectations

Sinclair Broadcast Group Inc. SBGI, +4.10% reported Thursday second-quarter media revenue of $721 million, above the FactSet consensus of $712.9 million. The TV broadcasting company said complete quarterly results will be reported on Aug. 7. Separately, Sinclair said it has entered into a agreement with Charter Communications Inc. CHTR, +1.49% for the continued carriage of its TV stations and the Tennis Channel, and for the carriage of its Marquee Sports Network when it launches in the first quarter of 2020. Sinclair’s stock, which slipped 0.4% in light premarket trading, has more than doubled this year (up 118%), while Charter shares have rallied 43% and the Dow Jones Industrial Average DJIA, +0.29% has gained 15%.

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