US-based television and telecommunications company Sinclair Broadcast Group has launched a corporate venturing arm dubbed Sinclair Digital Ventures.
The new unit will seek out and invest in digital technologies and digital content startups, with a particular focus on products and services that could support and improve Sinclair’s own digital product offering.
Sinclair Digital Ventures will be managed by David Amy, chief operating officer at Sinclair, Chris Ripley, the corporate’s chief financial officer, and Rob Weisbord, chief operating officer of Sinclair Digital Group, a digital agency subsidiary of Sinclair.
David Smith, president and chief executive of Sinclair Broadcast Group, said: “Expansion of our digital footprint is integral to our longer term growth plan, especially as viewing consumption trends evolve.
“Sinclair Digital Ventures’ focus is to seek partner companies whose products or services can help engage consumers and advertisers on multiple screens – web, social media and mobile apps.
“We currently have several potential investments in the Digital Ventures pipeline whose emphases are on advancing advertiser reach, enhancing the users’ digital experience, and/or improving our digital content. With this announcement, we look forward to initiating conversations with other such partners.”