Sinclair Broadcast Group says that their 3rd quarter revenue is up almost 35%.
The company pulled in $303.0 million for the 3rd quarter versus $225.0 million in the prior year period.
The company announced that because it made so much money, it will hire back all the staffers it laid off in Seattle and Portland.
Yeah right..... and if you believe that you haven't been working in TV very long.
In fact the company says the exact opposite.
CEO David Smith said they will continue to consolidate. In other words, more layoffs.
“We are pleased with our solid third quarter results and expect to continue to grow our revenue share and provide additional value to our shareholders through our station acquisitions and the synergies and efficiencies of scale that we are creating as we continue to consolidate. Including all pending station acquisitions, we are the largest and one of the most diversified TV broadcasters in the country and have been the most active TV broadcasting consolidator with over $3.0 billion in assets purchased and announced.
Isn't it great when a TV company brags about laying people off.
How the hell do these people sleep at night?