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Sinclair Broadcast reports lower first-quarter profit as expenses rose
Sinclair Broadcast reports lower first-quarter profit as expenses rose

Hunt Valley-based Sinclair Broadcast Group Inc. reported a 42 percent drop in profit for the first quarter, as operating and interest costs rose and revenue increased but fell short of analysts' expectations. The television station owner and operator said Monday that its income fell to $17 million, or 21 cents per common share, from $29.4 million, or 36 cents per share, during the three months that ended March 31. Its earnings did beat Wall Street's expectations of 17 cents per share, yet its stock fell Monday, closing at $26.69 per share, down 2.9 percent. The sell-off may reflect Sinclair's other announcement Monday that it would offer 14 million Class A shares to...

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