Is Sinclair Giving Up on Broadcasting?

Sinclair’s CEO does not seem very bullish on broadcasting.

Sinclair’s Chris Ripley says that he wants his company to focus on areas outside of broadcasting.

“As we looked at our business, it became increasingly clear that from a regulatory perspective, broadcasting is not in a good position,” Ripley told the Baltimore Sun.

“Our core business and our legacy might be in media and broadcasting, but at the end of the day we’re looking to make Sinclair a success in any industry that it’s in,” Ripley added. “If there are better investment opportunities in other industries, then we should pursue those rather than just blindly saying we’re a broadcaster, and this is all we’re going to do.”

When one of the biggest owners of TV stations is basically punting on broadcasting, it’s not a good sign.

H/T The Desk