QuickLinks -- Click here to rapidly navigate through this document

Exhibit 12

SBG
Computation of Ratio of Earnings to Fixed Charges

	3 months ended 3/31/2003			3 months ended 3/31/2002			2002			2001			2000			1999			1998
Income (loss) before provision (benefit) for income taxes from continuing operations		(3,991	)		(1,304	)		(10,143	)		(187,345	)		(34,476	)		(21,542	)		(16,701	)
Fixed Charges		29,802			33,589			126,500			143,574			152,219			181,569			141,704
Earnings available for fixed charges and preferred stock dividends		25,811			32,285			116,357			(43,771	)		117,743			160,027			125,003
Fixed Charges		29,802			33,589			126,500			143,574			152,219			181,569			141,704
Excess of earnings over fixed charges	$	(3,991	)	$	(1,304	)	$	(10,143	)	$	(187,345	)	$	(34,476	)	$	(21,542	)	$	(16,701	)
Ratio of earnings to fixed charges		—			—			—			—			—			—			—
Combined Fixed Charges and Preferred Stock Dividends		33,783			37,570			142,423			159,497			169,341			198,691			158,826
Excess of Fixed Charges over Earnings		7,972			5,285			26,066			203,268			51,598			38,664			33,823
Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends		—			—			—			—			—			—			—

QuickLinks

Exhibit 12

SBG Computation of Ratio of Earnings to Fixed Charges