BALTIMORE – Sinclair Broadcast Group has announced the launch of a new division that will invest in emerging digital technologies and digital companies, Sinclair Digital Ventures.
SDV will focus on companies with products or services that support and expand Sinclair’s digital capabilities and non-linear footprint. Jason Smith will serve as director of SDV. The division will be overseen by David Amy, Sinclair’s COO, Chris Ripley, Sinclair’s CFO, and Rob Weisbord, COO of Sinclair Digital Group.
“Expansion of our digital footprint is integral to our longer term growth plan, especially as viewing consumption trends evolve,” said David Smith, Sinclair’s president and CEO. “Sinclair Digital Ventures’ focus is to seek partner companies whose products or services can help engage customers and advertisers on multiple screens – web, social media and mobile apps.”
Among the entities Sinclair is investing in is ONE Media, an Austin, Texas-based company developing next generation broadcast technology. Sinclair is a co-investor in the startup along with Coherent Logix, also of Austin.
Sinclair Broadcast Group is a nationwide television broadcast company, reaching approximately 37.5 percent of U.S. television households and includes affiliates from FOX, ABC, MyTV, CW, CBS, NBC, Univision and Azteca.
Sinclair's total 2014 revenues totaled $1.977 billion, a 45 percent increase from 2013, with a five percent share increase in the fourth quarter alone thanks to TV station acquisitions and political advertising.
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