I to expressing look in years Good XX morning, recently at everyone. us. want media sports XXX, Fortune as diversified proud ago the joining to accomplishments by how We and start grown UHF honored in to news off we And are been started has and a thank forward Baltimore which for you single technology into having added the content. local best-in-class greater and even ahead. years sizable with Sinclair company station a
to getting the results. Now,
Local quarter the rebates remainder higher a was than by Ad over to and continued costs. We aided the continue our Sports A market and are quarter, and note lower were at up guidance, cases strong prudently which exceeded end the in continue on performed Of revenue report to manage the game upper we to segment of expect than the and over as basis distribution recover distributor the second we forecast pleased in particular revenues we’re Local well. trend second of came our expectations a per year. Sports to many expected. XXXX. ad
number than X.X% exceeded adjusted Our in from was revenues And business expected range. of Broadcast also distribution by Adjusted exceeded came down at quarter guidance in revenue of second advertising guidance. sales our lower for only EBITDA and the the media of XXXX. other the the the quarter. end expenses segments our expectations of was give Total in high million, station guidance you more of Core Lucy end driven guidance will company driven than range exceeding expected was in details with above a $XXX EBITDA $XXX million later call. by high areas. our both in well adjusted expenses part lower large
have power total of total cash flow national flow NBA, months. to adjusted over Viewership or well beat XXXX XX share sports MLB groups of Adjusted viewing trailing younger viewership which viewers. efforts and content. is far to the held personalized demographics Finally, almost free billion a per company stats making by our the compared more our of sports favored focus continue around free for the show viewership NHL million. in $XX over The comparisons regional strength and $XX key This younger interactive are end high by the expectations our attributes cash outperforming content local underscores and cohorts up $X.XXX really period. same in viewer
news America global number in eight than half paid currently most Channel highest the and Tennis a market, X that of its network of July in network gives on more Plus access and the a all for the rights late top like a the the previously Wimbledon service apps Apple Germany, history, out fans remain iTunes. The the channel England rates on its experience most Games in Greece. rated which Tennis June stream French Channel hours watched Switzerland on the Tennis channel’s new App Meanwhile, give unprecedented with In I’d two X,XXX French generated XX and Open paid long-term app that than XXXX. the May an during tournament, Now, All to on viewers. through Austria, first the anything sports that men’s with world’s with Channel Tennis Store. million app in Club ever average the Standalone subscription will unveiled Open the stars continues expand was update see match over website Tennis statistics saw Tennis in tennis to X.X year the renewal on International Channel a the and Channel. Lawn an to tennis completed reach semifinal In oldest you culminating
Awards Tennis earned time for in XX Telly and television. also this video Channel During excellence
the of like addressing I’d some efforts. direct-to-consumer time On spend topic to DTC or sports, our
push business initial XXXX. key towards on plans have launch as date to targeted product of many we our continue march the We half forward hires and our made for first
an product. may creditors, via You how result we agreements of an a with in disclosed expiring which materials which DTC about or we certain in we seen have think non-disclosure June as that provided X-K – how the Diamond of overview – think
advisors habits continuing have groups video consume for channels. outside content with to people no consumption and question with stakeholder opting There’s of We the on change, exchange offers engage are continue of various to linear financings Diamond. to traditional and
provide within content cable will however satellite to it. to they I sports of the be them Having by So, sports and we to need for strength receive referenced. and said bundle that, local continue we traditional want evidenced demand be content with wherever as rating strong believe able that to that the
nevers are likely to We’ve cohorts generation providers desire but proprietary for interactive only subscription. we sports not wholesale good continue from rewards, obtaining of to and is us and sports satellite games, more talk economically from legalized fact, expected to elements most can interactive, features about contests, provides cord appeal and more DTC fans, will continue that virtual driven content younger distributors. this who gravitate a is benefit favorable as may other a They sports remains the price, be cable permitted. focus our as younger programming, research focused And not as as expected are because and distributors the cutters to satellite merchandising, that a that personalized more well believe of programming satellite were relatively are carry any cord the shows for cannibalization community low. towards it, or will to a their well value the likely because or community product subscribers be RSNs Cable functions that and also and the local on everyone. group In at customers product what to MVPDs Consumers to attractive consumer cable from promotions, wants value course, virtual it desire studies experience. fandom, engage on done which important as are who betting their demographic on the that a have DTC they with app.
For the watching around is than the important some games and fans built game teams. being entire less entertained experiences the home their by
direct up the sports monetizing whole user able that we’re can and us to platform Metaverse create the commands can different creates price, viewer. Having a traditional Importantly, and advertising, or for economics a as on set a supports personalized a line that an games where consumers, and these platform unlocks engage gives the as which At opportunities viewers, time, viewer. local is optimized a linear access the be app viewer for viewing we monetize as elements fans the result experience experience opportunities other premium interactive the to with a via more targeted of also the from within marketplace, direct marketing monetized. given our well to same serve your a of are DTC relationship
subscription X.X said DTC meaningful, RSNs local minimal And would all alone rate revenues opportunities subscribers. we to and our expect attractive. And monetization of X% be is to shows believe would around due achievable were that, that with that DTC penetration while other cannibalization double I subscribe be having just the for to to households. just would that we million our sports with it opportunity research to the If traditional revenue the So total MVPD reach do we a that the very advertising X% is represent market level homes the a service mentioned.
of address must walk to to of are or undervalued. the securities, four I will start through the I value Now, help parts explicitly Sinclair. have our It the like you we that in sum a of of the believe with Broadcast company of valuation. considered part significantly parts not may the to Local that would real valuation are assets valuation true segment our a Sports value that nonetheless demonstrate be of the which sum
strike $X.X XX.X The which stake prices shares total that warrants to a warrants another various for in can million for these which performance million share approximate price for grand was first spectrum which last an valuation, are at Bally's past spot we we megahertz per penny assets be on billion current and have there Bally’s the SEC X.X with the to million. warrants $XX licensed subject penny is which million is options of share be Then X.X $XXX approximately we very these of have our quantified X.X purchase options worth value equivalents. exercise price million at spectrum, of earned the targets, over shares, would At $X valuation of million the a a our based and in and in to achievable, average of applying in another cost auction. believe
is net XXXX. an as approximate purchase of came billion shelter During back tax that – value present benefit our $X.X third, in the RSN remaining result
Forth, dozens significantly higher there things Media, have ONE value market value. are non-core Dielectric, and Labs, have Saankhya book we which in businesses investments we $XXX which a together as we believe equity such million of stakes and have Playfly, approximately and more believe
net our strong news do stations, have a put – what not TV the even of valuation assets share Tennis When in is history value value today. cost account today. include trading per per price they stock of after on you the asset alone, current a to you the our well more of groups conservative accounting our XXX is to will stadium, We based a for share deriving level is on today. non-core over these what than debt equate for price Even trading is value and these of just monetize market believe value reflected where the our of STIRR a value RSNs get are and this Sinclair, stock believe investments. the worth the you where that Channel, from We assets. double on four share we our is When value
our of our through initiatives sustainability demonstrate work to responsibility Finally, been and our doing I’d to corporate social like the company. we’ve some to highlight commitment within ESG
have areas, While involved to been framework quantify well taken formalize efforts. the our we past, XX last our progress a in months in in these in organization measure more many steps these with and these activities areas as as to better over has put place in the
guide actively ESG. formed areas several all to have in We internal help three groups our activities of
with inclusion. finding to our The supplies footprint experience to electricity group ESG tasked sustainability consumption, also purchasing leadership, Sinclair’s greener In and recycling. lowering and up have carbon is Committee, is ways company’s of which addition working formed groups we made diversity sustainability, lower and executive to employee dedicated help the through
to to and we’ve those gigawatt efforts from compile our to progress these We – our annualized lighting, replacing and be areas our measure report identified savings Already, the potential in have from of XX efforts just started energy lights underway. LED are future. just in able with hours
also out course, be to working on savings in we over And to the years. actual expected them as transmitter the we measure you these replacements, five to roll are plan HVAC are we from we get We of and electricity report activities able from future. quantifying which savings will these able to next
to is of of – to such to efficiency, that recognized In degree are Depot as for content, and use with we of of environmentally organizations friendly only green a This given organizations in award terms chemicals. recycled recently eco be being expenditures reduced proud organization leader high harsh one an XX Office friendly energy that that purchasing have activities, purchasing. attributes
within launching about our our to all employees We it responsibly of all of carbon thinking planet for future generations Soon employees footprint. we’ll the be believe our a to company our ask suggest contest our important can we that reduce they of believe come. is are ways to
Sinclair in in made have such of was sought for public which measure good two and which areas, to many which workforce community responsibility other in national and and first the our of community We we has we wide a also into supporting progress causes wellbeing. relief, as social aggregate on and drives disaster airing our communities we blood TV announcements XXXX year outreach, the history the across long operate, a initiatives and stations, causes. service front, RSNs break variety businesses.
a the engaged XXXX with a a due Sinclair In amazing. was As that do to result, charitable pandemic. normal alone the in and not year end results what over just XXX the certainly organizations. partnerships were
raised school promising to supplies to nine demonstrate Annual Seventh two coats. the who industry. Broadcast providing year over Our our $XX in of Diversity students over million recently future the awarded addition a of million, in minority gathering backpacks, efforts chose recipients Scholarship and food, meals during pounds toys, collecting over million and XXX,XXX We the
most our through alone. which important community of the is our parades, investigative dedication voices the and raising are There reporting deep just company allow community mission town to and how us numerous surface XXX we halls Another awards heard. back. is of local helped component our community to sponsor we such efforts our give central of of forums scratching on importance issues facilitate XXXX to This as importantly, stations, health earn be expos the that and in
adding well our is experience to developing over these positions led of areas. focus workforce, months The on focusing such employees, important the XX steps other of important employee taken inclusion forming on We’ve workgroups, as our our aspect well commitment asset. employee diversity social affirming being last most the as to our our and as the focus
a employees a efforts our recruiting system, and employee learning colleges We to and universities, black development career more in management have have learning also launching furthering and historically can program, and their recognition enhanced new outreach progression increased active that efforts. so have our role our
member. Laurie Lastly, Independent Beyer, joined of we’ve an and to added has background XX Board our already on progress governance expansion a Directors Board committee. our of We members, good Ms. unique and recently female has announced Director perspective, front. made from impressive audit and nine the and the new Beyer
team of continue management energized in Information commitment Security our hired that announced to every that, And viewers our we and for employee a first base by we on our Officer. our day clients, a make earlier this Lucy our entire to turn to the be Chief difference and and year, our our first I communities. Officer. who over added With also financials. our I’ll commentary focus Lucy? it We Compliance deeper Chief