Sinclair Broadcast Group Eliminates 200 Jobs

Sinclair Broadcast Group has eliminated 200 jobs, or 7% of its work force, and suspended its quarterly dividend to cut costs as it expects falling advertising revenues this year amid a recession.

Besides layoffs, the Hunt Valley, Maryland broadcaster is cutting back on capital expenditures, freezing salaries, lowering promotional spending and travel.

Such moves are expected to save the company $19 million, but it is not enough to offset the decline in advertising, particularly in a non-election year, Sinclair said.

The Sinclair Broadcast Group is the operator of the largest number of local television stations in the US, with a total of 57 stations across the country in 35 small and medium markets, many of which are located in the South and the Midwest. Broadcasts by SBG stations can be received by 24% of American households.