Q4 2025 Earnings Presentation February 25, 2026 Disclaimer Forward-Looking Statements & Non-GAAP Financial Measures The matters discussed in this presentation, particularly those in the section labeled "Guidance," include forward-looking statements regarding, among other things, future operating results. When used in this presentation, the words "outlook," "intends to," "believes," "anticipates," "expects," "achieves," "estimates," and similar expressions are intended to identify forward-looking statements. ...

BALTIMORE, Feb. 25, 2026 (GLOBE NEWSWIRE) -- Sinclair, Inc. (Nasdaq: SBGI), the "Company" or "Sinclair," today reported financial results for the three and twelve months ended December 31, 2025. Highlights: Met or exceeded guidance on all key financial metricsFull year Adjusted EBITDA of $483 millionFull-year core advertising revenue grew by $71 million over 2024 CEO Comment: “Sinclair delivered a strong fourth quarter, with total revenue exceeding the midpoint of guidance and Adjusted EBITDA above expectat ...

“Liberty’s Voice with Mark Levin” Available 3 Times Per WeekNEW YORK, Feb. 17, 2026 (GLOBE NEWSWIRE) -- Cumulus Media’s (OTCQB: CMLS) Westwood One today announced the launch of a new digital video series from their legacy host, Mark Levin. Liberty’s Voice with Mark Levin will publish vodcast episodes three times per week – Monday through Wednesday – and will be available on both YouTube and Rumble in digital video format with future expansion on other platforms. For the first time, Levin will offer audience ...

Core Insights - Salem Media announced two key leadership appointments in the Pittsburgh market, promoting Jason Mosher to Regional General Manager and naming Dave Cuddihy as General Sales Manager [1][2]. Group 1: Leadership Appointments - Jason Mosher will oversee the Pittsburgh market in addition to Atlanta, providing strategic leadership and operational oversight [1][3]. - Dave Cuddihy, a Pittsburgh native, will lead local advertising sales and strategic business development for Salem's Pittsburgh portfolio, which includes WORD-FM, WPGP-AM, and WPIT [2][3]. Group 2: Strategic Focus - Cuddihy brings over 20 years of media and advertising leadership experience, enhancing Salem's commitment to integrated marketing solutions across broadcast and digital platforms [2][3]. - Mosher emphasized the company's commitment to growth in Pittsburgh and plans to expand the local team by hiring additional media strategists [4]. Group 3: Company Overview - Salem Media is recognized as a premier multimedia company specializing in Christian and conservative content, reaching millions daily through its national radio network and digital platforms [4].

Core Viewpoint - The article compares Fox Corporation (FOX) and Fox (FOXA) to determine which stock is more attractive to value investors [1] Group 1: Zacks Rank and Earnings Outlook - Fox Corporation has a Zacks Rank of 2 (Buy), indicating a positive earnings estimate revision trend, while Fox has a Zacks Rank of 3 (Hold) [3] - The improving earnings outlook for FOX suggests it is a more favorable option for investors [7] Group 2: Valuation Metrics - FOX has a forward P/E ratio of 12.51, compared to FOXA's forward P/E of 14.18 [5] - FOX's PEG ratio is 7.92, while FOXA's PEG ratio is 8.52, indicating FOX may be undervalued relative to its expected EPS growth [5] - FOX has a P/B ratio of 2.35, whereas FOXA has a P/B of 2.61, further supporting FOX's valuation attractiveness [6] - These metrics contribute to FOX's Value grade of B and FOXA's Value grade of C [6]

Core Viewpoint - Donald Trump endorsed Nexstar's proposed $6.2 billion merger with Tegna, which would create a broadcasting entity reaching 80% of U.S. TV households, emphasizing the need for increased competition against major national networks [1][2]. Group 1: Merger Details - The merger would allow Nexstar to acquire 265 stations across 44 states and the District of Columbia, significantly expanding its reach compared to other station groups [2]. - Nexstar requires a waiver from the FCC due to the current ownership cap that limits entities from owning stations covering more than 39% of the country [2]. Group 2: Regulatory Environment - The FCC is currently reviewing the merger and considering lifting the ownership cap, with Chairman Brendan Carr expressing support for Trump's endorsement [3][4]. - Interest groups have been actively campaigning for and against the merger, with some ads targeting Trump directly, suggesting that the merger could help "defeat fake news" [5][7]. Group 3: Opposition and Concerns - Newsmax, led by a friend of Trump, has urged the FCC to reject the merger, arguing it would lead to increased media consolidation at the expense of localism [7][9]. - Concerns have been raised that Nexstar's dominance could limit local news diversity and increase retransmission fees for non-broadcast providers [8]. Group 4: Political and Industry Reactions - Trump's previous concerns about lifting the ownership cap align with the views of some conservative voices who argue that the merger could harm competition and increase consumer costs [9]. - The National Association of Broadcasters is advocating for lifting the ownership cap while navigating First Amendment concerns related to recent FCC actions [11].

Core Viewpoint - President Donald Trump has endorsed Nexstar Media's proposed $6.2 billion acquisition of Tegna, reversing his earlier criticism of the deal [1][3]. Group 1: Deal Overview - The Nexstar-Tegna deal involves Nexstar acquiring Tegna's 64 stations, which will expand Nexstar's reach to cover approximately 80% of the country [2]. - The acquisition was announced in August 2025 and is expected to close in the second half of 2026 [2]. Group 2: Industry Context - The proposed deal is part of a broader trend of media consolidation as the industry faces challenges from cord-cutting [4]. - Nexstar's CEO, Perry Sook, emphasized the importance of broadcast news for democracy and local news, aiming to compete with Big Tech in the media landscape [5].

Core Insights - Salem Media announced the retirement of Val Carolin after over 40 years in the broadcast media industry, effective January 30, 2026 [1] - The company has promoted Jason Mosher to Regional General Manager, overseeing the Atlanta and Pittsburgh markets, and Mike Murphy to Regional General Manager, adding Cleveland to his existing responsibilities in the Twin Cities market [3][5] - These leadership changes are aimed at ensuring continuity and positioning Salem for continued growth in key markets [5] Leadership Changes - Val Carolin's retirement marks the end of a significant era for Salem Media, with President of Broadcast Media Allen Power praising Carolin's leadership style [1] - Jason Mosher's promotion reflects his results-driven approach and consistent performance, which are expected to benefit the company in his new role [1] - Mike Murphy's promotion is based on his diligent leadership and commitment to Salem's mission, enhancing his oversight capabilities [3] Company Overview - Salem Media is recognized as America's premier multimedia company specializing in Christian and conservative content, reaching millions daily through its national radio network, digital platforms, and publishing brands [5]

Core Insights - TEGNA, Inc. has launched new mobile apps across 50 markets, enhancing real-time access to local news and weather stories [1][4] - The transformation of local stations into 24/7 story-first newsrooms is central to TEGNA's strategy, allowing for immediate delivery of local stories [2][3] User Engagement and Performance - During the testing phase in four beta markets, video plays increased by over tenfold, and user sessions rose by 40% [4] - The app emphasizes digital design and user experience, aiming to provide real-time video updates from local reporters [5] Technological Advancements - TEGNA has reimagined the software powering local teams to enable true 24/7 news coverage, utilizing cutting-edge technology to free up time for content creation [5] Key Features of the Mobile App - The app includes elegant design, fast loading times, localized onboarding, and active customization for user preferences [10] - It offers a personalized home feed, story summaries, a social-native vertical video player, and best-in-class local weather features [10] - Additional features include topic exploration hubs and integrated advertising solutions for brands [10] Company Overview - TEGNA operates 64 television stations in 51 U.S. markets, reaching over 100 million people monthly through various platforms [7]

Core Insights - Gray Media, Inc. will release its earnings results for the quarter ended December 31, 2025, on February 26, 2026 [1] - The company will host a conference call to discuss its operating results on the same day at 11:00 a.m. Eastern Time [2] Company Overview - Gray Media, Inc. is a multimedia company based in Atlanta, Georgia, and is the largest owner of top-rated local television stations and digital assets in the U.S. [3] - The company serves 113 television markets, reaching approximately 37 percent of U.S. television households [3] - Gray Media's portfolio includes 78 markets with the top-rated television station and 99 markets with the first and/or second highest-rated television station in 2024 [3] - The company owns the largest Telemundo Affiliate group with 44 markets and operates Gray Digital Media, a full-service digital agency [3] - Additional media properties include video production companies Raycom Sports, Tupelo Media Group, and PowerNation Studios, along with studio production facilities Assembly Atlanta and Third Rail Studios [3]