Shares of Sinclair Broadcast Group leapt nearly 5 percent after the company announced Wednesday that TV station acquisitions and strong political advertising boosted its sales and earnings in the fourth quarter.
The Hunt Valley-based TV station owner's stock closed up $1.26 at $28.05 a share in Nasdaq trading.
Sinclair's income soared to $95.4 million in the three months that ended Dec. 31, from $2.3 million in the final three months of 2013, the company said. Earnings per share were 98 cents, up from 2 cents.
Sales rose nearly 44 percent to $613.8 million in the October-to-December period, compared with sales of $427.7 million in the last quarter of 2013. Annual sales...