It’s been said that Sinclair Inc. was considering the sale of broadcast television stations it believed to be non-essential to the company, freeing up cash as it invests in ATSC 3.0’s rollout across the U.S. and in a handful of other countries. The company is also looking to put its Bally Sports era squarely in the past, given the financial challenges associated with its regional sports network acquisition and spin into a subsidiary operation.
Now, Sinclair is turning to a former Bally Sports sales executive as it agrees to sell five television stations, including its Milwaukee property.
In a deal struck on Friday and submitted Tuesday (3/11) with the FCC for its regulatory approval, Sinclair is agreeing to part ways with the following stations:
- WVTV-TV “CW18” in Milwaukee
- WICS-TV “ABC 20” in Springfield, Ill., and semi-satellite WICD-TV in Champaign-Urbana, Ill.
- KHQA-TV in Hannibal, Mo., which broadcasts on Channel 7 as a dual ABC and CBS affiliate serving Quincy, Ill.
- KTVO-TV in Ottumwa, Iowa, which also serves Kirksville, Mo., on Channel 3 as a dual ABC and CBS affiliate.
The buyer is Rincon Broadcasting Group, an entity led by Todd Parkin.
Parkin in January 2025 was named VP of Growth and Managing Director of Media at Think, a Baltimore-based consultancy. In taking the role, Parkin was tasked with oversight and expansion of the company’s media consulting services division, specializing in advising media networks including broadcast and sports networks, streaming companies and studios.
Prior to joining Think, Parkin was Senior Vice President of Sports Operations at Bally Sports, where he managed the RSNs, rising from Vice President of Ad Sales, Pricing and Strategy at Ballys.
Before that, Parkin worked at MGM Studios as Senior Vice President of Domestic Networks.
From 2009 to 2013, Parkin was CEO of PBC Broadcasting, a company he acquired and grew under his leadership.
With Lauren Lynch Flick at Pillsbury Law serving as Parkin’s legal counsel, Rincon is agreeing to pay Sinclair $29.4 million for the stations.
Parkin reserves the right to pay it all at once or establish a Promissory Note and a payment schedule.
There is no broker or finder associated with this transaction.
A Sinclair representative did not immediately respond to RBR+TVBR’s request for comment on the transaction.
