Maryland’s Sinclair Broadcasting, which owns and/or operates 193 television stations around the US covering 40% of the American population, announced that it will lay off about 600 people, or 5% of its workforce, the Baltimore Sun reports.
“The impact of the COVID-19 pandemic continues to be felt across all sectors of the economy, something that can have a profound impact on a company as diversified as ours,” the company said in a statement to The Baltimore Sun. “In response to this, we are currently undergoing enterprise-wide reductions across our workforce, including corporate headquarters, to ensure we are well-positioned for future success.”
Sinclair reported a $4.2 billion loss in 3rd quarter 2020 as it wrote off its purchase of the Fox Sports regional channels and the Fox College Sports network. It also saw a decrease of 7% in advertising revenue in the 4th quarter 2020.
Nationally, Sinclair employs around 9,200 people and has 2,200 freelancers. The controversial conservative company requires that it’s local affiliates follow strict pro-Republican editorial guidelines dictated from its headquarters. This includes airing “must run” pre-produced pieces masquerading as “local news” or editorial comments.
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