|By PR Newswire||
|February 26, 2014 04:08 PM EST||
BALTIMORE, Feb. 26, 2014 /PRNewswire/ -- Sinclair Broadcast Group, Inc. (Nasdaq: SBGI) announced the promotion of David B. Amy to Executive Vice President and Chief Operating Officer of Sinclair from Executive Vice President and Chief Financial Officer, and names Christopher Ripley as Chief Financial Officer, effective April 2, 2014. The announcement was made by David Smith, President and Chief Executive Officer of Sinclair.
"In response to the growth of the Company and looking ahead to all that we intend to accomplish, the Board of Directors recognized the need to split David Amy's responsibilities into the two distinct positions he was serving," commented David Smith. "We are excited to create this new position which will report directly to me and the Board. David has been an instrumental decision maker for us for many years, most recently leading us through the consolidation, and planning our path for future growth. Given his knowledge of our Company and the industry, we have the utmost confidence in his abilities to oversee our operations, a job he has been indirectly performing for years."
In his new capacity, Mr. Amy will have direct oversight for the operations, and continued oversight of human resources and the financial disciplines.
"We are pleased to announce the addition of Chris Ripley as Chief Financial Officer to our team," Mr. Smith continued. "As a former Managing Director at UBS Investment Bank's Global Media Group, Chris brings additional experience in formulating financial and strategic alternatives and transactions, as well as industry knowledge having covered many media companies outside of broadcasting. We believe this knowledge and skill set will be of the utmost value to us as we look to evolve our content and distribution platforms and ready for spectrum opportunities. Chris will report directly to me, David Amy and the Board."
"After over a decade covering Sinclair and the TV broadcasting industry as an investment banker, I am excited to join Sinclair at this stage in the industry's development and see a bright future for the Company's expansion opportunities," commented Mr. Ripley. "I am honored to be joining one of the best and most forward-thinking executive and finance teams in the media business."
Mr. Ripley will assume the direct oversight of the accounting, treasury, tax, finance and purchasing functions.
Mr. Amy most recently served as Executive Vice President and Chief Financial Officer of Sinclair since 2001. Prior to that, he served as Executive Vice President from 1999 to 2001 and as Vice President and CFO from 1998 to 1999. Prior to that, he served as CFO from 1994 to 1998. In addition, he serves as Secretary of Sinclair Television Group, Inc., a wholly-owned subsidiary that owns and operates our broadcasting operations. Mr. Amy has 30 years of broadcast experience, having joined Sinclair in 1984 as a Business Manager for WPMY (formerly WPTT-TV) in Pittsburgh, Pennsylvania. Mr. Amy received his Masters in Business Administration degree from the University of Pittsburgh in 1981. Mr. Amy serves as a member of the Board of Directors of KDSM, LLC, and The Maryland Science Center. He is also a member of the Board of Managers of Triangle Sign & Service, LLC and Chairman of the Board of Managers of Alarm Funding Associates, LLC.
Mr. Ripley most recently and from 2013 served as Founder and Managing Partner of Canor LLC, a boutique media/entertainment advisory firm. From 2001 to 2013, he was a Managing Director at UBS Investment Bank's Global Media Group and served as Head of the Los Angeles office where he managed, advised and/or structured various financings and merger and acquisition transactions, managed bankers and support staff, and oversaw regulatory and compliance matters for the office. From 2000 to 2001, he was a Principal in Prime Ventures LLC, a venture capital firm where he was involved in capital investment decisions, business development, M&A, and organizational structuring. Prior to that and from 1998, Mr. Ripley worked in the investment banking division of Donaldson, Lufkin & Jenrette Securities Corporation. Mr. Ripley graduated from the University of Western Ontario, Richard Ivey School of Business, with a Bachelor of Arts in Honors Business Administration. He holds Series 7 and Series 24 licenses.
Sinclair Broadcast Group, Inc. is headquartered in Hunt Valley, Maryland, north of Baltimore, Maryland, and has other executive offices in Tampa, Florida, Chicago, Illinois and Seattle, Washington. Sinclair is one of the largest and most diversified television broadcasting companies, having affiliations with all of the major networks. For more information, please visit Sinclair's website at www.sbgi.net.
SOURCE Sinclair Broadcast Group, Inc.
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