2021 Cyberattack Cost Sinclair $ 63M in Lost Ad Revenue

BALTIMORE—A cyberattack ransomware in October 2021 cost Sinclair Broadcast Group $ 63 million in lost revenue for the broadcast group and has cost the company $ 11 million to date, it said in its latest quarterly report.

The attack, which plagued the company’s internal operations for several weeks forced Sinclair to have to produce its news on internal networks. The company says it has since implemented extra security measures. Sinclair said it paid no ransom, and was able to restore its network from backups, but the disruption impacted revenues and expenses.

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