Sinclair Broadcast Group has upgraded its public guidance for its fourth quarter results.
“An inflow of last minute unexpected political ads” is responsible for the boost, the company said.
On Oct. 13, Sinclair projected fourth quarter net broadcast revenues to be down mid- to high-single-digit percents, as compared to the fourth quarter 2007 take of $165.7 million, due to marketplace volatility.
Sinclair expects its fourth quarter net broadcast revenues to be down only low- to mid-single-digit percents.
“Forecasting for the fourth quarter has been made difficult due to a lack of visibility as it relates to the political advertising spending and timing, as well as the unpredictable effect of the current economic environment on the core business,” Sinclair said.
The company will release its final third quarter results and offer more detailed guidance on Nov. 5.