February 28, 2018 / 12:40 PM / 9 months ago

BRIEF-Sinclair Reports Q4 Earnings Per Share $4.32

Feb 28 (Reuters) - Sinclair Broadcast Group Inc:

* SINCLAIR REPORTS FOURTH QUARTER AND FULL YEAR 2017 FINANCIAL RESULTS

* Q4 REVENUE FELL 8 PERCENT TO $734 MILLION

* ‍PENDING ACQUISITION OF TRIBUNE IS NOT REFLECTED IN COMPANY’S GUIDANCE​

* SINCLAIR BROADCAST - ‍CONTINUE TO WORK WITH GOVERNMENTAL AGENCIES TOWARDS SUCCESSFUL ACQUISITION OF TRIBUNE MEDIA , EXPECTED TO CLOSE IN Q2 OF 2018​

* SEES Q1 2018 ‍MEDIA REVENUES ARE EXPECTED TO BE APPROXIMATELY $638 MILLION TO $644 MILLION​

* QTRLY ‍NET INCOME INCLUDED A $272 MILLION NON-RECURRING TAX BENEFIT​

* SINCLAIR BROADCAST - ‍Q1 2018 OFF TO SLOWER THAN EXPECTED START DUE TO LOW PERCENT OF NBC AFFILIATES WHICH IS NETWORK THAT AIRED SUPER BOWL,OLYMPICS​

* QTRLY ‍NET INCOME INCLUDED A $225 MILLION GAIN RECOGNIZED FOR VACATING SPECTRUM IN CERTAIN MARKETS​

* SINCLAIR BROADCAST - ‍LOOKING FORWARD TO GROWTH DRIVERS FROM UPCOMING MID-TERM ELECTIONS, POSITIVE EFFECTS FROM TAX REFORM, A GROWING ECONOMY​

* ‍GAIN OF APPROXIMATELY $83 MILLION IS EXPECTED TO BE RECOGNIZED RELATED TO SALE OF SPECTRUM IN MILWAUKEE IN Q1​

* SEES ‍Q1 2018 APPROXIMATELY $8 MILLION IN POLITICAL REVENUES AS COMPARED TO $2 MILLION IN Q1 OF 2017​

* ‍2018 MEDIA EXPENSES, INCLUDING TRADE EXPENSE, ARE EXPECTED TO BE APPROXIMATELY $1,813 MILLION TO $1,817 MILLION​

* ‍2018 TOTAL CAPEX IS EXPECTED TO BE APPROXIMATELY $179 MILLION TO $189 MILLION​

* ‍TOTAL CAPITAL EXPENDITURES ARE EXPECTED TO BE APPROXIMATELY $42 MILLION FOR Q1 2018​

* Q4 REVENUE VIEW $732.1 MILLION — THOMSON REUTERS I/B/E/S Source text for Eikon: Further company coverage: (Reuters.Brief@thomsonreuters.com)

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