Keith Weissman of Sibilla Capital Management presented his in-depth investment thesis on Sinclair Broadcast Group (Nasdaq: SBGI) at Best Ideas 2018.
Sinclair Broadcast Group (Nasdaq: SBGI) is one of the largest broadcast TV operators in the U.S.
The company is in the process of acquiring Tribune Media, which will bring total station count to 233 stations covering 108 markets, not accounting for possible divestitures. The acquisition will diversify the company and add stations in major markets in which the company lacks a presence. The increased scale will provide additional leverage with advertisers and cable companies in addition to cost efficiency in producing content.
The regulatory environment under Donald Trump made the pending acquisition of Tribune possible and provides the company with a fertile environment for growth over the next few years. The FCC has relaxed several rules, which favors Sinclair. Keith believes the benefits of the Tribune acquisition and beyond are not captured in the recent stock price.
About the instructor:
Keith Weissman is a Senior Analyst and Director of Research at Sibilla Capital. Keith is also the co-Founder of Quadrant 1, an advanced finance training company. He has more than 15 years of experience in equity research and principle investment. His approach to fundamental analysis has been developed over his career having looked at investment opportunities across a variety of sectors from both the perspective of a market-oriented and private equity investor. Prior to joining Sibilla, Mr. Weissman served as a research analyst at CLSA Asia-Pacific Markets covering companies in the aerospace sector. During his time at CLSA, he developed a comprehensive framework for analyzing investment opportunities which serves as the basis for fundamental research performed at Sibilla. Before transitioning to CLSA, he closed over $1 billion in principle investments. In doing so, Mr. Weissman developed deep due diligence and valuation skills that formed the foundation of his approach to investment research.Mr. Weissman holds a Master’s in Business Administration from Columbia Business School and a Bachelor of Science degree in Economics from the Wharton School of the University of Pennsylvania. In addition, he is a CFA charter holder, a CPA license holder and is an adjunct professor in the Gabelli School of Business at Fordham University, the Zicklin School of Business at Baruch College, and the Lubin School of Business at Pace University. He has lectured on topics such as corporate valuation, investment analysis, portfolio management, banking and central bank policy, the securities industry, and risk management.
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