Sinclair Broadcast Group based in Cockeysville, MD, said that the cyber attack the company faced in 2021 resulted in $63 million in lost advertising revenue in the fourth quarter, plus other costs of $11 million, reports Broadcasting & Cable.
Some of the losses might be covered by insurance, continued the report, “but Sinclair said it estimates that the incident will have resulted in an unrecoverable net loss of about $24 million.
“The ransomware cyber attack disrupted the computers at Sinclair and its stations,, making it hard for its stations to produce newscasts and feed its programming to distributors including Hulu.
“Station engineers were able to find work arounds until the company was able to restore most of its systems.
Sinclair Broadcast Group is the largest operator of local TV stations in the U.S. with around 190 TV stations broadcasting and some 630 channels. The company serves about 90 markets throughout the U.S. – including Baltimore and Washington, D.C. – and has a national reach of approximately 40% of the country.