Key Takeaways From Sinclair Broadcast's Ransomware Attack

• Sinclair Broadcast Group Inc (NASDAQ: SBGI) detected and began investigating and taking steps to contain a potential security incident on October 16.

• On October 17, Sinclair detected that ransomware encrypted specific servers and workstations in its environment and disrupted particular office and operational networks.

• The company confirmed that data also was taken from its network.

• Sinclair is working to determine what information the data contained and take other actions based on its review.

• Sinclair engaged cybersecurity forensic firm Legal counsel and other incident response professionals. It also notified law enforcement and other governmental agencies.

• The forensic investigation remains ongoing.

• The event has disrupted and may continue to disrupt parts of the company's business. It is working diligently to restore operations quickly and securely.

• Sinclair is yet to understand the incident's impact on the company's business, operations, or financial results.

• Price Action: SBGI shares traded lower by 2.87% at $26.41 on the last check Monday.

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