Sinclair Shares Soar After Initiating Strategic Review (1)

Sinclair shares jumped 27% in postmarket trading after the company launched a strategic review of its broadcast business and is considering a separation of its Ventures unit.

• Evaluating “all value-enhancing opportunities, including acquisitions, strategic partnerships, and business combinations” for broadcast business
• Ventures may be separated via “spinoff, splitoff or other transaction”
• Broadcast ad revenue rose last quarter y/y
• Ventures includes assets in real estate, private equity and tech

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(Adds shares in first paragraph.)

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Zachary Fleming in New York at zfleming2@bloomberg.net

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