TV station owner Sinclair plans to branch into nonbroadcast business through billion-dollar private-equity fund

Media company Sinclair may be best known for its empire of television stations and local news programming across the United States, its founders’ conservative bent and its recent failed foray into regional sports network ownership. Now, officials say the Hunt Valley-based company’s future will become more tied to industries outside broadcast. Instead of buying more television stations, the company is shifting its investment strategy to acquire growing, nonbroadcast businesses, Sinclair President and CEO Chris Ripley said in a recent interview.