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Sinclair Broadcast says profits soared in fourth quarter
Sinclair Broadcast says profits soared in fourth quarter

Sinclair Broadcast Group Inc. said profits soared in the fourth quarter, capping a presidential election year in which the Hunt Valley TV station owner saw record levels of political advertising, a rebound in auto advertising sales and rapid growth through acquisitions. Net income rose to $59 million, or 73 cents per share, from $22.7 million, or 28 cents per share, in the fourth quarter that ended Dec. 31, the company reported Wednesday. Earnings beat analysts' expectations of 59 cents per share. Net broadcast revenues from continuing operations increased 59 percent to $287.1 million in the quarter, compared with $180.8 million for the fourth quarter of 2011, the company said. The...

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