sbgi-20240508

0001971213-24-000033.txt : 20240508 0001971213-24-000033.hdr.sgml : 20240508 20240508161959 ACCESSION NUMBER: 0001971213-24-000033 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 15 CONFORMED PERIOD OF REPORT: 20240508 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20240508 DATE AS OF CHANGE: 20240508 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Sinclair, Inc. CENTRAL INDEX KEY: 0001971213 STANDARD INDUSTRIAL CLASSIFICATION: TELEVISION BROADCASTING STATIONS [4833] ORGANIZATION NAME: 06 Technology IRS NUMBER: 921076143 STATE OF INCORPORATION: MD FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 333-271072 FILM NUMBER: 24926481 BUSINESS ADDRESS: STREET 1: 10706 BEAVER DAM ROAD CITY: HUNT VALLEY STATE: MD ZIP: 21030 BUSINESS PHONE: 410-568-1711 MAIL ADDRESS: STREET 1: 10706 BEAVER DAM ROAD CITY: HUNT VALLEY STATE: MD ZIP: 21030 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Sinclair Broadcast Group, LLC CENTRAL INDEX KEY: 0000912752 STANDARD INDUSTRIAL CLASSIFICATION: TELEVISION BROADCASTING STATIONS [4833] ORGANIZATION NAME: 06 Technology IRS NUMBER: 521494660 STATE OF INCORPORATION: MD FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-26076 FILM NUMBER: 24926482 BUSINESS ADDRESS: STREET 1: 10706 BEAVER DAM ROAD CITY: HUNT VALLEY STATE: MD ZIP: 21030 BUSINESS PHONE: 4105681500 MAIL ADDRESS: STREET 1: 10706 BEAVER DAM ROAD CITY: HUNT VALLEY STATE: MD ZIP: 21030 FORMER COMPANY: FORMER CONFORMED NAME: SINCLAIR BROADCAST GROUP INC DATE OF NAME CHANGE: 19930928 8-K 1 sbgi-20240508.htm 8-K sbgi-20240508

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form 8-K

CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d)

OF THE SECURITIES EXCHANGE ACT OF 1934


May 8, 2024
Date of Report (Date of earliest event reported)

Sinclair, Inc.

(Exact name of registrant as specified in its charter)

Maryland

333-271072

92-1076143

(State or other jurisdiction of incorporation)

(Commission File Number)

(I.R.S. Employer Identification Number)

Sinclair Broadcast Group, LLC

(Exact name of registrant as specified in its charter)

Maryland

000-26076

52-1494660

(State or other jurisdiction of incorporation)

(Commission File Number)

(I.R.S. Employer Identification Number)

10706 Beaver Dam Road Hunt Valley, MD 21030

(Address of principal executive offices and zip code)

(410) 568-1500

(Registrants' telephone number, including area code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Sinclair, Inc.

Title of each class

Trading Symbol

Name of each exchange on which registered

Class A Common Stock, par value $ 0.01 per share

SBGI

The NASDAQ Stock Market LLC

Sinclair Broadcast Group, LLC

Title of each class

Trading Symbol

Name of each exchange on which registered

None

N/A

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2). Sinclair, Inc. ☐ Sinclair Broadcast Group, LLC ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. Sinclair, Inc. ☐ Sinclair Broadcast Group, LLC ☐

Item 2.02 Results of Operations and Financial Condition.

On May 8, 2024, Sinclair, Inc. (the "Company") announced via press release the Company’s financial results for the first quarter ended March 31, 2024. The financial results of the Company’s wholly-owned subsidiary, Sinclair Broadcast Group, LLC (“SBG”), are reflected within the Company’s financial results. A copy of the Company’s press release is attached hereto as Exhibit 99.1. The information contained herein and the attached exhibit are furnished under this Item 2.02 of Form 8-K and are furnished to, but for purposes of Section 18 of the Securities Exchange Act of 1934 shall not be deemed filed with, the Securities and Exchange Commission. The information contained herein and in the accompanying exhibit shall not be incorporated by reference to any filing of the Company or SBG, whether made before or after the date hereof, regardless of any general incorporation language in such filing, unless expressly incorporated by specific reference to such filing.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

The following exhibit related to Item 2.02 shall be deemed to be furnished and not filed.


Exhibit No.						Description
99.1						Press Release (dated May 8, 2024).

104						Cover Page Interactive Data File (embedded within the Inline XBRL document).

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

SINCLAIR, INC.

SINCLAIR BROADCAST GROUP, LLC

By: /s/ David R. Bochenek

Name: David R. Bochenek

Title: Senior Vice President / Chief Accounting Officer

Dated: May 8, 2024

EX-99 2 exhibit991-1q24pressreleas.htm EX-99 Document

News Release

SINCLAIR REPORTS FIRST QUARTER 2024 FINANCIAL RESULTS

BALTIMORE (May 8, 2024) - Sinclair, Inc. (Nasdaq: SBGI), the "Company" or "Sinclair," today reported financial results for the three months ended March 31, 2024.

Highlights:

•Met or exceeded first quarter guidance on Revenue, Media Expenses and Adjusted EBITDA

•Launched NextGen data solutions platform, Broadspan

•Settled all Diamond Sports Group, LLC (DSG) related outstanding litigation claims

•As of May 1, the Company has pre-booked $77 million in political advertising for the second half of the year through Election Day; this compares to $21 million as of May 1, 2020 and $28 million as of May 1, 2022

CEO Comment:

"Sinclair delivered solid first quarter results, meeting guidance expectations in our local media segment and exceeding Adjusted EBITDA expectations at Tennis Channel in the quarter. Core advertising trends remain solid in most categories, with our effective yield management and sales training processes driving industry-leading core growth over the past several quarters. We have significant retransmission agreements renewing this year, of which we are 42% completed as of the beginning of May. We continue to expect a mid-single digit two-year growth in net retransmission revenues from 2023 to 2025. We also announced the launch of Broadspan, our NextGen data solutions platform, that will deliver a unified suite of products to the marketplace, and at the same time announced our first NextGen commercial partner, Edgio. The time for the NextGen data distribution opportunity is now. The broadcast data distribution model has many benefits, such as a more efficient distribution of mass-consumption data, improved customer experience, and lower cost of data delivery compared to traditional one-to-one wireless solutions. We are very excited to see what the future holds for NextGen over the coming quarters and years. In summary, Sinclair is in a strong position for both the short and long term, with our emphasis on growing net retransmission revenues and maintaining industry leadership in core advertising revenue growth. Our strategic focus aligns with the anticipation of a record-breaking presidential election year, contributing to robust growth in Adjusted EBITDA throughout 2024. We have laid the groundwork for a promising future, and we are excited about the opportunities that lie ahead of us."

Recent Company Developments:

Content and Distribution:

•In January, Hulu launched carriage of Tennis Channel, T2, Comet and CHARGE! on Hulu + Live TV.

•In March, the Company reached a comprehensive, multiyear distribution agreement with Charter Communications, Inc. for continued carriage of Sinclair’s owned local broadcast stations and Tennis Channel.

•In May, the Company reached a comprehensive, multiyear distribution agreement with Cox Communications, Inc. for continued carriage of Sinclair’s owned local broadcast stations and Tennis Channel.

•Year-to-date, Sinclair's newsrooms have won a total of 47 journalism awards.

Community:

•In April, the Company held its second annual Sinclair Day of Service, whereby all employees were encouraged to volunteer that day for charitable causes. Over 1,300 employees volunteered a total of more than 3,700 hours that day.

Investment Portfolio:

•During the first quarter, the Company made capital investments of approximately $2 million in minority investments and received distributions, including exit payments, of approximately $52 million.

NextGen Broadcasting (ATSC 3.0):

•In April, the Company announced the launch of its Broadspan datacasting platform to enable data distribution capability across all current Sinclair NextGen Broadcast (ATSC 3.0) markets where it serves as the host station. Edgio, Inc., a leading content delivery network, will become the Company's first NextGen commercial partner.

•To date, the Company has launched NextGen Broadcast in 44 markets, including the recent launch of Portland, ME. NextGen Broadcast is now available in 75% of the TV households in Sinclair's licensed footprint.

Financial Results:

Three Months Ended March 31, 2024 Consolidated Financial Results:

•Total revenues increased 3% to $798 million versus $773 million in the prior year period. Media revenues increased 3% to $792 million versus $766 million in the prior year period.

•Total advertising revenues of $321 million increased 4% versus $309 million in the prior year period. Core advertising revenues, which exclude political revenues, were down 3% in the first quarter to $297 million versus $306 million in the prior year period.

•Distribution revenues of $436 million increased versus $426 million in the prior year period.

•Operating income of $42 million, including non-recurring transaction, implementation, legal, regulatory and other costs ("Adjustments") of $6 million, increased versus an operating income of $21 million in the prior year period, which included Adjustments of $6 million. Operating income, when excluding the Adjustments, was $48 million compared to operating income, excluding the Adjustments, of $27 million in the prior year period.

•Net income attributable to the Company was $23 million versus net income of $185 million in the prior year period. Excluding Adjustments, the Company had net income of $27 million.

•Adjusted EBITDA increased 13% to $136 million from $120 million in the prior year period.

•Diluted earnings per common share was $0.35 as compared to diluted earnings per common share of $2.64 in the prior year period. On a per-diluted-share basis, the impact of Adjustments was $(0.07), and the impact of Adjustments in the prior year period was $(0.07).

Segment financial information is included in the following tables for the periods presented. The Local Media segment consists primarily of broadcast television stations, which the Company owns, operates or to which the Company provides services, and includes multicast networks and original content. The Local Media segment assets are owned and operated by Sinclair Broadcast Group, LLC (SBG). The Tennis segment consists primarily of Tennis Channel, a cable network which includes coverage of most of tennis' top tournaments and original professional sport and tennis lifestyle shows; the Tennis Channel International subscription and streaming service; Tennis Channel Plus streaming service; T2 FAST, a 24-hours a day free ad-supported streaming television channel; and Tennis.com. Other includes non-broadcast digital solutions, technical services, and other non-media investments. For periods presented subsequent to June 1, 2023 (the date of the reorganization), the assets of the Tennis segment and Other are owned and operated by Sinclair Ventures, LLC (Ventures). The highlights below include the divestiture of Stadium (May 2, 2023).


Three months ended March 31, 2024	Local Media		Tennis		Other		Corporate and Eliminations		Consolidated
($ in millions)

Distribution revenue	$	384	$	52	$	—	$	—	$	436
Core advertising revenue	284		10		6		(3)		297
Political advertising revenue	24		—		—		—		24

Other media revenue	35		1		—		(1)		35
Media revenues	$	727	$	63	$	6	$	(4)	$	792
Non-media revenue	—		—		9		(3)		6
Total revenues	$	727	$	63	$	15	$	(7)	$	798

Media programming and production expenses	$	383	$	25	$	—	$	—	$	408
Media selling, general and administrative expenses	183		12		5		(4)		196
Non-media expenses	2		—		12		(2)		12
Program contract payments	22		—		—		—		22
Corporate general and administrative expenses	41		1		—		16		58
Stock-based compensation	25		—		—		3		28
Non-recurring transaction, implementation, legal, regulatory and other costs	7		—		(1)		—		6
Adjusted EBITDA(a)	$	128	$	25	$	(3)	$	(14)	$	136

Interest expense (net)(b)	$	69	$	—	$	(4)	$	—	$	65
Capital expenditures	21		—		—		—		21
Distributions to the noncontrolling interests	2		—		—		—		2
Cash distributions from equity investments	26		—		51		—		77

Net cash taxes paid									—

Note: Certain amounts may not summarize to totals due to rounding differences.

(a)Adjusted EBITDA is defined as earnings before interest, tax, depreciation and amortization, and non-recurring transaction, implementation, legal, regulatory and other costs, as well as certain non-cash items such as stock-based compensation expense and other gains and losses; less program contract payments. Refer to the reconciliation at the end of this press release and the Company’s website. In the above table, Adjusted EBITDA equals total revenues minus media programming and production expenses, media selling, general and administrative expenses, non-media expenses, program contract payments, and corporate general and administrative expenses; plus stock-based compensation and non-recurring transaction, implementation, legal, regulatory and other costs.

(b)Interest expense (net) excludes deferred financing costs, original issue discount amortization, and other non-cash interest expense, and is net of interest income.


Three months ended March 31, 2023	Local Media		Tennis		Other		Corporate and Eliminations		Consolidated
($ in millions)

Distribution revenue	$	381	$	45	$	—	$	—	$	426
Core advertising revenue	293		9		6		(2)		306
Political advertising revenue	3		—		—		—		3

Other media revenue	28		1		3		(1)		31
Media revenues	$	705	$	55	$	9	$	(3)	$	766
Non-media revenue	—		—		8		(1)		7
Total revenues	$	705	$	55	$	17	$	(4)	$	773


Media programming and production expenses	$	371	$	22	$	8	$	(3)	$	398
Media selling, general and administrative expenses	175		10		6		—		191
Non-media expenses	6		—		6		—		12
Program contract payments	23		—		—		—		23
Corporate general and administrative expenses	32		—		—		26		58
Stock-based compensation	13		1		—		9		23
Non-recurring transaction, implementation, legal, regulatory and other costs	4		—		—		2		6
Adjusted EBITDA(a)	$	115	$	24	$	(3)	$	(16)	$	120


Interest expense (net)(b)	$	64	$	—	$	(5)	$	—	$	59
Capital expenditures	19		—		—		1		20
Distributions to the noncontrolling interests	4		—		—		—		4
Cash distributions from equity investments	—		—		36		—		36

Net cash taxes paid									2

Note: Certain amounts may not summarize to totals due to rounding differences.

(b)Interest expense (net) excludes deferred financing costs, original issue discount amortization, and other non-cash interest expense, and is net of interest income.

Consolidated Balance Sheet and Cash Flow Highlights of the Company:

•Total Company debt as of March 31, 2024 was $4,149 million, of which $4,134 million is SBG debt and $15 million is Ventures debt.

•In January, the Company repurchased $27 million of Term B Loans due 2026 for $25 million in cash.

•Cash and cash equivalents for the Company as of March 31, 2024 was $655 million, of which $337 million is SBG cash and $318 million is Ventures cash.

•As of March 31, 2024, 42.3 million Class A common shares and 23.8 million Class B common shares were outstanding, for a total of 66.1 million common shares.

•In March, the Company paid a quarterly cash dividend of $0.25 per share.

•Capital expenditures for the first quarter of 2024 were $21 million.

•In March, the Company paid $50 million toward the total $495 million global settlement amount related to the litigation filed by Diamond Sports Group, LLC and DSG’s wholly-owned subsidiary, Diamond Sports Net, LLC, in July 2023, which settlement includes an amendment to the management services agreement between Sinclair Television Group, LLC (STG) and DSG. The initial $50 million was funded by Ventures.

•In April, the Company settled in cash the remaining $445 million global settlement amount, settling all claims associated with the litigation, without admitting fault or wrongdoing. Of the $445 million payment, $347 million was funded by STG and $98 million by Ventures. After factoring in corresponding tax benefits, additional management services agreement payments to STG of approximately $26 million to $62 million, and other miscellaneous items to be received by Sinclair in connection with the settlement, the net cost to Sinclair is expected to be approximately $250 million to $325 million. Including value to be received, the net amount for STG is expected to be approximately 55% to 60% of the total net cost with Ventures funding the remainder.

Notes:

Certain reclassifications have been made to prior years' financial information to conform to the presentation in the current year.

Outlook:

The Company currently expects to achieve the following results for the three months ending June 30, 2024 and the twelve months ending December 31, 2024.


For the three months ending June 30, 2024 ($ in millions)	Local Media	Tennis	Other	Corporate and Eliminations	Consolidated

Core advertising revenue	$294 to 304	$16	$8	$(5)	$312 to 323
Political advertising revenue	$29 to 35				$29 to 35
Advertising revenue	$323 to 339	$16	$8	$(5)	$341 to 358
Distribution revenue	$383 to 385	$52	—	—	$435 to 437
Other media revenue	$38	$1	—	$(2)	$37
Media revenues	$744 to 763	$68	$8	$(7)	$813 to 832
Non-media revenue	—	—	$11	$(1)	$10
Total revenues	$744 to 763	$68	$19	$(7)	$823 to 843


Media programming & production expenses and media selling, general and administrative expenses	$571 to 574	$62	$6	$(7)	$632 to 635
Non-media expenses	$2	—	$15	—	$17
Program contract payments	$20	—	—	—	$20
Corporate overhead	$26	—	$1	$13	$40
Stock-based compensation	$10	—	—	—	$10
Non-recurring transaction and transition services, implementation, legal, and regulatory costs	$10	—	$1	—	$11
Adjusted EBITDA(a)	$142 to 164	$6	$(3)	$(13)	$132 to 155

Interest expense (net)(b)	$71	—	$(4)	—	$67
Total capital expenditures	$27 to 29	$1	—	—	$28 to 30
Distributions to the noncontrolling interests	$3	—	—	—	$3
Cash distributions from equity investments	—	—	$4	—	$4

Net cash tax payments					$7

Note: Certain amounts may not summarize to totals due to rounding differences.

(a)Adjusted EBITDA is defined as earnings before interest, tax, depreciation and amortization, and non-recurring transaction, implementation, legal, regulatory and other costs, as well as certain non-cash items such as stock-based compensation expense and other gains and losses; less program contract payments. In the above table, Adjusted EBITDA equals total revenues minus media programming and production expenses, media selling, general and administrative expenses, non-media expenses, program contract payments, and corporate general and administrative expenses; plus stock-based compensation and non-recurring transaction, implementation, legal, regulatory and other costs.

(b)Interest expense (net) excludes deferred financing costs, original issue discount amortization, and other non-cash interest expense, and is net of interest income.

For the twelve months ending December 31, 2024 ($ in millions)

Consolidated

Media programming & production expenses and media selling, general and administrative expenses

$2,481 to 2,484

Non-media expenses

$59

Program contract payments

$80

Corporate overhead

$168 to 169

Stock based compensation included in corporate, media, and non-media expenses above

$53

Non-recurring transaction, implementation, legal, and regulatory costs included in corporate, media, and non-media expenses above

$34

Interest expense (net)(a)

$270

Total capital expenditures

$105 to 110

Distributions to noncontrolling interests

$10

Cash distributions from equity investments

$83

Net cash tax payments

$165 to 175

Note: Certain amounts may not summarize to totals due to rounding differences.

(a)Interest expense (net) excludes deferred financing costs, original issue discount amortization, and other non-cash interest expense, and is net of interest income.

Sinclair Conference Call:

The senior management of Sinclair will hold a conference call to discuss the Company's first quarter 2024 results on Wednesday, May 8, 2024, at 4:30 p.m. ET. The call will be webcast live and can be accessed at www.sbgi.net under "Investor Relations/Events and Presentations." After the call, an audio replay will remain available at www.sbgi.net. The press and the public will be welcome on the call in a listen-only mode. The dial-in number is (888) 506-0062, with entry code 195393.

About Sinclair:

Sinclair, Inc. is a diversified media company and a leading provider of local news and sports. The Company owns, operates and/or provides services to 185 television stations in 86 markets affiliated with all the major broadcast networks; owns Tennis Channel and multicast networks Comet, CHARGE!, TBD., and The Nest; and owns and provides services to 21 regional sports network brands. Sinclair’s content is delivered via multiple platforms, including over-the-air, multi-channel video program distributors, and the nation’s largest streaming aggregator of local news content, NewsON. The Company regularly uses its website as a key source of Company information which can be accessed at www.sbgi.net.

Sinclair, Inc. and Subsidiaries

Preliminary Unaudited Consolidated Statements of Operations

(In millions, except share and per share data)


	Three Months Ended March 31,
	2024		2023
REVENUES:
Media revenues	$	792	$	766
Non-media revenues	6		7
Total revenues	798		773

OPERATING EXPENSES:
Media programming and production expenses	408		398
Media selling, general and administrative expenses	196		191
Amortization of program contract costs	19		22
Non-media expenses	12		12
Depreciation of property and equipment	25		24
Corporate general and administrative expenses	58		58
Amortization of definite-lived intangible assets	38		41


Loss on asset dispositions and other, net of impairment	—		6

Total operating expenses	756		752
Operating income	42		21

OTHER INCOME (EXPENSE):
Interest expense including amortization of debt discount and deferred financing costs	(76)		(74)
Gain on extinguishment of debt	1		—
Income from equity method investments	14		31
Other income, net	40		11
Total other expense, net	(21)		(32)
Income (loss) before income taxes	21		(11)
INCOME TAX BENEFIT	4		204
NET INCOME	25		193
Net loss attributable to the redeemable noncontrolling interests	—		4
Net income attributable to the noncontrolling interests	(2)		(12)
NET INCOME ATTRIBUTABLE TO SINCLAIR	$	23	$	185
EARNINGS PER COMMON SHARE ATTRIBUTABLE TO SINCLAIR:
Basic earnings per share	$	0.35	$	2.65
Diluted earnings per share	$	0.35	$	2.64
Basic weighted average common shares outstanding (in thousands)	64,156		69,744
Diluted weighted average common and common equivalent shares outstanding (in thousands)	64,403		69,864

The Company considers Adjusted EBITDA to be an indicator of the Company's operating performance and the ability to service its debt. The Company also believes that Adjusted EBITDA is frequently used by industry analysts, investors and lenders as a measure of valuation and ability to service its debt. The Company also discloses segment Adjusted EBITDA as an indicator of the operating performance of its segments in accordance with ASC 280, Segment Reporting.

Non-GAAP measures are not formulated in accordance with GAAP, are not meant to replace GAAP financial measures and may differ from other companies’ uses or formulations. The Company does not provide reconciliations on a forward-looking basis. Further discussions and reconciliations of the Company's non-GAAP financial measures to comparable GAAP financial measures can be found on its website www.sbgi.net.

Sinclair, Inc. and Subsidiaries

Reconciliation of Non-GAAP Measurements - Unaudited

All periods reclassified to conform with current year GAAP presentation

(in millions)


	Three Months Ended March 31,
	2024		2023
Reconciliation of Net Income to Adjusted EBITDA
Net income attributable to Sinclair	$	23	$	185
Add: Loss from redeemable noncontrolling interests	—		(4)
Add: Income from noncontrolling interests	2		12
Add: Income tax benefit	(4)		(204)
Add: Other income	(28)		—
Add: Income from equity method investments	(14)		(31)
Add: (Income) loss from other investments and impairments	(2)		1
Add: Gain on extinguishment of debt/insurance proceeds	(2)		—
Add: Interest expense	76		74
Less: Interest income	(9)		(12)

Less: Loss on asset dispositions and other, net of impairment	—		6
Add: Amortization of intangible assets & other assets	38		41

Add: Depreciation of property & equipment	25		24
Add: Stock-based compensation	28		23
Add: Amortization of program contract costs	19		22
Less: Cash film payments	(22)		(23)
Add: Non-recurring transaction, implementation, legal, regulatory and other costs	6		6
Adjusted EBITDA	$	136	$	120


Three months ended March 31, 2024	Local Media		Tennis		Other		Corporate and Eliminations		Consolidated
($ in millions)






Total revenues	$	727	$	63	$	15	$	(7)	$	798


Media programming and production expenses	383		25		—		—		408
Media selling, general and administrative expenses	183		12		5		(4)		196
Depreciation and amortization expenses	58		5		1		(1)		63
Amortization of program contract costs	19		—		—		—		19
Corporate general and administrative expenses	41		1		—		16		58
Non-media expenses	2		—		12		(2)		12


Operating income (loss)	$	41	$	20	$	(3)	$	(16)	$	42

Reconciliation of GAAP Operating Income to Adjusted EBITDA:
Operating income (loss)	$	41	$	20	$	(3)	$	(16)	$	42
Depreciation and amortization expenses	58		5		1		(1)		63
Amortization of program contract costs	19		—		—		—		19


Program contract payments	(22)		—		—		—		(22)
Stock-based compensation	25		—		—		3		28
Adjustments	7		—		(1)		—		6
Adjusted EBITDA	$	128	$	25	$	(3)	$	(14)	$	136


Three months ended March 31, 2023	Local Media		Tennis		Other		Corporate and Eliminations		Consolidated
($ in millions)
Total revenues	$	705	$	55	$	17	$	(4)	$	773
Media programming and production expenses	371		22		8		(3)		398
Media selling, general and administrative expenses	175		10		6		—		191
Depreciation and amortization expenses	59		5		2		(1)		65
Amortization of program contract costs	22		—		—		—		22
Corporate general and administrative expenses	32		—		—		26		58
Non-media expenses	6		—		6		—		12
(Gain) loss on asset dispositions and other, net of impairment	(1)		—		7		—		6
Operating income (loss)	$	41	$	18	$	(12)	$	(26)	$	21

Reconciliation of GAAP Operating Income to Adjusted EBITDA:
Operating income (loss)	$	41	$	18	$	(12)	$	(26)	$	21
Depreciation and amortization expenses	59		5		2		(1)		65
Amortization of program contract costs	22		—		—		—		22
(Gain) loss on asset dispositions and other, net of impairment	(1)		—		7		—		6
Program contract payments	(23)		—		—		—		(23)
Stock-based compensation	13		1		—		9		23
Adjustments	4		—		—		2		6
Adjusted EBITDA	$	115	$	24	$	(3)	$	(16)	$	120

Forward-Looking Statements:

The matters discussed in this news release, particularly those in the section labeled “Outlook,” include forward-looking statements regarding, among other things, future operating results. When used in this news release, the words “outlook,” “intends to,” “believes,” “anticipates,” “expects,” “achieves,” “estimates,” and similar expressions are intended to identify forward-looking statements. Such statements are subject to a number of risks and uncertainties. Actual results in the future could differ materially and adversely from those described in the forward-looking statements as a result of various important factors, including and in addition to the assumptions set forth therein, but not limited to, the rate of decline in the number of subscribers to services provided by traditional and virtual multi-channel video programming distributors (“Distributors”); the Company’s ability to generate cash to service its substantial indebtedness; the successful execution of outsourcing agreements; the successful execution of retransmission consent agreements; the successful execution of network and Distributor affiliation agreements; the Company’s ability to identify and consummate acquisitions and investments, to manage increased financial leverage resulting from acquisitions and investments, and to achieve anticipated returns on those investments once consummated; the Company’s ability to compete for viewers and advertisers; pricing and demand fluctuations in local and national advertising; the appeal of the Company’s programming and volatility in programming costs; material legal, financial and reputational risks and operational disruptions resulting from a breach of the Company’s information systems; the impact of FCC and other regulatory proceedings against the Company; compliance with laws and uncertainties associated with potential changes in the regulatory environment affecting the Company’s business and growth strategy; the impact of pending and future litigation claims against the Company; the Company’s limited experience in operating or investing in non-broadcast related businesses; and any risk factors set forth in the Company’s recent reports on Form 10-Q and/or Form 10-K, as filed with the Securities and Exchange Commission. There can be no assurances that the assumptions and other factors referred to in this release will occur. The Company undertakes no obligation to publicly release the result of any revisions to these forward-looking statements except as required by law.

###

Investor Contacts:

Christopher C. King, VP, Investor Relations

Billie-Jo McIntire, AVP, Investor Relations

(410) 568-1500

Media Contact:

Sinclair@5wpr.com

Category: Financial

EX-101.SCH 3 sbgi-20240508.xsd XBRL TAXONOMY EXTENSION SCHEMA DOCUMENT 0000001 - Document - Cover Page Cover Page link:presentationLink link:calculationLink link:definitionLink EX-101.DEF 4 sbgi-20240508_def.xml XBRL TAXONOMY EXTENSION DEFINITION LINKBASE DOCUMENT EX-101.LAB 5 sbgi-20240508_lab.xml XBRL TAXONOMY EXTENSION LABEL LINKBASE DOCUMENT Document Period End Date Document Period End Date Pre-commencement Tender Offer Pre-commencement Tender Offer Soliciting Material Soliciting Material City Area Code City Area Code Entity Address, Postal Zip Code Entity Address, Postal Zip Code Entity Central Index Key Entity Central Index Key Entity Address, City or Town Entity Address, City or Town Security Exchange Name Security Exchange Name Title of 12(b) Security Title of 12(b) Security Written Communications Written Communications Document Information [Line Items] Document Information [Line Items] Local Phone Number Local Phone Number Trading Symbol Trading Symbol Entity Incorporation, State or Country Code Entity Incorporation, State or Country Code Entity Address, State or Province Entity Address, State or Province Pre-commencement Issuer Tender Offer Pre-commencement Issuer Tender Offer Cover [Abstract] Cover [Abstract] Entity Emerging Growth Company Entity Emerging Growth Company Entity [Domain] Entity [Domain] Document Type Document Type Amendment Flag Amendment Flag Document Information [Table] Document Information [Table] Entity File Number Entity File Number Legal Entity [Axis] Legal Entity [Axis] Entity Tax Identification Number Entity Tax Identification Number Entity Address, Address Line One Entity Address, Address Line One Sinclair Broadcast Group, LLC Sinclair Broadcast Group, LLC [Member] Sinclair Broadcast Group, LLC Entity Registrant Name Entity Registrant Name EX-101.PRE 6 sbgi-20240508_pre.xml XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE DOCUMENT XML 8 R1.htm IDEA: XBRL DOCUMENT

Cover Page Cover Page	May 08, 2024
Document Information [Line Items]
Document Type	8-K
Document Period End Date	May 08, 2024
Entity Registrant Name	Sinclair, Inc.
Entity Incorporation, State or Country Code	MD
Entity File Number	333-271072
Entity Tax Identification Number	92-1076143
Entity Address, Address Line One	10706 Beaver Dam Road
Entity Address, City or Town	Hunt Valley
Entity Address, State or Province	MD
Entity Address, Postal Zip Code	21030
City Area Code	410
Local Phone Number	568-1500
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Entity Emerging Growth Company	false
Title of 12(b) Security	Class A Common Stock, par value $ 0.01 per share
Trading Symbol	SBGI
Security Exchange Name	NASDAQ
Amendment Flag	false
Entity Central Index Key	0001971213
Sinclair Broadcast Group, LLC
Document Information [Line Items]
Entity Registrant Name	Sinclair Broadcast Group, LLC
Entity Incorporation, State or Country Code	MD
Entity File Number	000-26076
Entity Tax Identification Number	52-1494660
Entity Address, Address Line One	10706 Beaver Dam Road
Entity Address, City or Town	Hunt Valley
Entity Address, State or Province	MD
Entity Address, Postal Zip Code	21030
City Area Code	410
Local Phone Number	568-1500
Entity Emerging Growth Company	false
Entity Central Index Key	0000912752

EXCEL 9 Financial_Report.xlsx IDEA: XBRL DOCUMENT begin 644 Financial_Report.xlsx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end XML 10 Show.js IDEA: XBRL DOCUMENT // Edgar(tm) Renderer was created by staff of the U.S. Securities and Exchange Commission. Data and content created by government employees within the scope of their employment are not subject to domestic copyright protection. 17 U.S.C. 105. var Show={};Show.LastAR=null,Show.showAR=function(a,r,w){if(Show.LastAR)Show.hideAR();var e=a;while(e&&e.nodeName!='TABLE')e=e.nextSibling;if(!e||e.nodeName!='TABLE'){var ref=((window)?w.document:document).getElementById(r);if(ref){e=ref.cloneNode(!0); e.removeAttribute('id');a.parentNode.appendChild(e)}} if(e)e.style.display='block';Show.LastAR=e};Show.hideAR=function(){Show.LastAR.style.display='none'};Show.toggleNext=function(a){var e=a;while(e.nodeName!='DIV')e=e.nextSibling;if(!e.style){}else if(!e.style.display){}else{var d,p_;if(e.style.display=='none'){d='block';p='-'}else{d='none';p='+'} e.style.display=d;if(a.textContent){a.textContent=p+a.textContent.substring(1)}else{a.innerText=p+a.innerText.substring(1)}}} XML 11 report.css IDEA: XBRL DOCUMENT /* Updated 2009-11-04 */ /* v2.2.0.24 */ /* DefRef Styles */ ..report table.authRefData{ background-color: #def; border: 2px solid #2F4497; font-size: 1em; position: absolute; } ..report table.authRefData a { display: block; font-weight: bold; } ..report table.authRefData p { margin-top: 0px; } ..report table.authRefData .hide { background-color: #2F4497; padding: 1px 3px 0px 0px; text-align: right; } ..report table.authRefData .hide a:hover { background-color: #2F4497; } ..report table.authRefData .body { height: 150px; overflow: auto; width: 400px; } ..report table.authRefData table{ font-size: 1em; } /* Report Styles */ ..pl a, .pl a:visited { color: black; text-decoration: none; } /* table */ ..report { background-color: white; border: 2px solid #acf; clear: both; color: black; font: normal 8pt Helvetica, Arial, san-serif; margin-bottom: 2em; } ..report hr { border: 1px solid #acf; } /* Top labels */ ..report th { background-color: #acf; color: black; font-weight: bold; text-align: center; } ..report th.void { background-color: transparent; color: #000000; font: bold 10pt Helvetica, Arial, san-serif; text-align: left; } ..report .pl { text-align: left; vertical-align: top; white-space: normal; width: 200px; white-space: normal; /* word-wrap: break-word; */ } ..report td.pl a.a { cursor: pointer; display: block; width: 200px; overflow: hidden; } ..report td.pl div.a { width: 200px; } ..report td.pl a:hover { background-color: #ffc; } /* Header rows... */ ..report tr.rh { background-color: #acf; color: black; font-weight: bold; } /* Calendars... */ ..report .rc { background-color: #f0f0f0; } /* Even rows... */ ..report .re, .report .reu { background-color: #def; } ..report .reu td { border-bottom: 1px solid black; } /* Odd rows... */ ..report .ro, .report .rou { background-color: white; } ..report .rou td { border-bottom: 1px solid black; } ..report .rou table td, .report .reu table td { border-bottom: 0px solid black; } /* styles for footnote marker */ ..report .fn { white-space: nowrap; } /* styles for numeric types */ ..report .num, .report .nump { text-align: right; white-space: nowrap; } ..report .nump { padding-left: 2em; } ..report .nump { padding: 0px 0.4em 0px 2em; } /* styles for text types */ ..report .text { text-align: left; white-space: normal; } ..report .text .big { margin-bottom: 1em; width: 17em; } ..report .text .more { display: none; } ..report .text .note { font-style: italic; font-weight: bold; } ..report .text .small { width: 10em; } ..report sup { font-style: italic; } ..report .outerFootnotes { font-size: 1em; } XML 13 FilingSummary.xml IDEA: XBRL DOCUMENT 3.24.1.u1 html 2 22 1 false 1 0 false 0 false false R1.htm 0000001 - Document - Cover Page Cover Page Sheet http://www.sbgi.net/role/CoverPageCoverPage Cover Page Cover Page Cover 1 false false All Reports Book All Reports [ix-0514-Hidden-Fact-Eligible-For-Transform] WARN: 6 fact(s) appearing in ix:hidden were eligible for transformation: dei:CityAreaCode, dei:EntityAddressAddressLine1, dei:EntityAddressCityOrTown, dei:EntityAddressPostalZipCode, dei:EntityAddressStateOrProvince, dei:LocalPhoneNumber - sbgi-20240508.htm 4 sbgi-20240508.htm sbgi-20240508.xsd sbgi-20240508_def.xml sbgi-20240508_lab.xml sbgi-20240508_pre.xml http://xbrl.sec.gov/dei/2023 true false JSON 16 MetaLinks.json IDEA: XBRL DOCUMENT { "version": "2.2", "instance": { "sbgi-20240508.htm": { "nsprefix": "sbgi", "nsuri": "http://www.sbgi.net/20240508", "dts": { "inline": { "local": [ "sbgi-20240508.htm" ] }, "schema": { "local": [ "sbgi-20240508.xsd" ], "remote": [ "http://www.xbrl.org/2003/xbrl-instance-2003-12-31.xsd", "http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd", "http://www.xbrl.org/2003/xl-2003-12-31.xsd", "http://www.xbrl.org/2003/xlink-2003-12-31.xsd", "http://www.xbrl.org/2005/xbrldt-2005.xsd", "http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd", "http://www.xbrl.org/lrr/role/net-2009-12-16.xsd", "https://www.xbrl.org/dtr/type/2020-01-21/types.xsd", "https://www.xbrl.org/dtr/type/2022-03-31/types.xsd", "https://xbrl.sec.gov/dei/2023/dei-2023.xsd" ] }, "definitionLink": { "local": [ "sbgi-20240508_def.xml" ] }, "labelLink": { "local": [ "sbgi-20240508_lab.xml" ] }, "presentationLink": { "local": [ "sbgi-20240508_pre.xml" ] } }, "keyStandard": 22, "keyCustom": 0, "axisStandard": 1, "axisCustom": 0, "memberStandard": 0, "memberCustom": 1, "hidden": { "total": 9, "http://xbrl.sec.gov/dei/2023": 9 }, "contextCount": 2, "entityCount": 1, "segmentCount": 1, "elementCount": 28, "unitCount": 0, "baseTaxonomies": { "http://xbrl.sec.gov/dei/2023": 34 }, "report": { "R1": { "role": "http://www.sbgi.net/role/CoverPageCoverPage", "longName": "0000001 - Document - Cover Page Cover Page", "shortName": "Cover Page Cover Page", "isDefault": "true", "groupType": "document", "subGroupType": "", "menuCat": "Cover", "order": "1", "firstAnchor": { "contextRef": "c-1", "name": "dei:DocumentType", "unitRef": null, "xsiNil": "false", "lang": "en-US", "decimals": null, "ancestors": [ "span", "div", "body", "html" ], "reportCount": 1, "baseRef": "sbgi-20240508.htm", "first": true, "unique": true }, "uniqueAnchor": { "contextRef": "c-1", "name": "dei:DocumentType", "unitRef": null, "xsiNil": "false", "lang": "en-US", "decimals": null, "ancestors": [ "span", "div", "body", "html" ], "reportCount": 1, "baseRef": "sbgi-20240508.htm", "first": true, "unique": true } } }, "tag": { "dei_AmendmentFlag": { "xbrltype": "booleanItemType", "nsuri": "http://xbrl.sec.gov/dei/2023", "localname": "AmendmentFlag", "presentation": [ "http://www.sbgi.net/role/CoverPageCoverPage" ], "lang": { "en-us": { "role": { "terseLabel": "Amendment Flag", "label": "Amendment Flag", "documentation": "Boolean flag that is true when the XBRL content amends previously-filed or accepted submission." } } }, "auth_ref": [] }, "dei_CityAreaCode": { "xbrltype": "normalizedStringItemType", "nsuri": "http://xbrl.sec.gov/dei/2023", "localname": "CityAreaCode", "presentation": [ "http://www.sbgi.net/role/CoverPageCoverPage" ], "lang": { "en-us": { "role": { "terseLabel": "City Area Code", "label": "City Area Code", "documentation": "Area code of city" } } }, "auth_ref": [] }, "dei_CoverAbstract": { "xbrltype": "stringItemType", "nsuri": "http://xbrl.sec.gov/dei/2023", "localname": "CoverAbstract", "lang": { "en-us": { "role": { "terseLabel": "Cover [Abstract]", "label": "Cover [Abstract]", "documentation": "Cover page." } } }, "auth_ref": [] }, "dei_DocumentInformationLineItems": { "xbrltype": "stringItemType", "nsuri": "http://xbrl.sec.gov/dei/2023", "localname": "DocumentInformationLineItems", "presentation": [ "http://www.sbgi.net/role/CoverPageCoverPage" ], "lang": { "en-us": { "role": { "terseLabel": "Document Information [Line Items]", "label": "Document Information [Line Items]", "documentation": "Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table." } } }, "auth_ref": [] }, "dei_DocumentInformationTable": { "xbrltype": "stringItemType", "nsuri": "http://xbrl.sec.gov/dei/2023", "localname": "DocumentInformationTable", "presentation": [ "http://www.sbgi.net/role/CoverPageCoverPage" ], "lang": { "en-us": { "role": { "terseLabel": "Document Information [Table]", "label": "Document Information [Table]", "documentation": "Container to support the formal attachment of each official or unofficial, public or private document as part of a submission package." } } }, "auth_ref": [] }, "dei_DocumentPeriodEndDate": { "xbrltype": "dateItemType", "nsuri": "http://xbrl.sec.gov/dei/2023", "localname": "DocumentPeriodEndDate", "presentation": [ "http://www.sbgi.net/role/CoverPageCoverPage" ], "lang": { "en-us": { "role": { "terseLabel": "Document Period End Date", "label": "Document Period End Date", "documentation": "For the EDGAR submission types of Form 8-K: the date of the report, the date of the earliest event reported; for the EDGAR submission types of Form N-1A: the filing date; for all other submission types: the end of the reporting or transition period. The format of the date is YYYY-MM-DD." } } }, "auth_ref": [] }, "dei_DocumentType": { "xbrltype": "submissionTypeItemType", "nsuri": "http://xbrl.sec.gov/dei/2023", "localname": "DocumentType", "presentation": [ "http://www.sbgi.net/role/CoverPageCoverPage" ], "lang": { "en-us": { "role": { "terseLabel": "Document Type", "label": "Document Type", "documentation": "The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word 'Other'." } } }, "auth_ref": [] }, "dei_EntityAddressAddressLine1": { "xbrltype": "normalizedStringItemType", "nsuri": "http://xbrl.sec.gov/dei/2023", "localname": "EntityAddressAddressLine1", "presentation": [ "http://www.sbgi.net/role/CoverPageCoverPage" ], "lang": { "en-us": { "role": { "terseLabel": "Entity Address, Address Line One", "label": "Entity Address, Address Line One", "documentation": "Address Line 1 such as Attn, Building Name, Street Name" } } }, "auth_ref": [] }, "dei_EntityAddressCityOrTown": { "xbrltype": "normalizedStringItemType", "nsuri": "http://xbrl.sec.gov/dei/2023", "localname": "EntityAddressCityOrTown", "presentation": [ "http://www.sbgi.net/role/CoverPageCoverPage" ], "lang": { "en-us": { "role": { "terseLabel": "Entity Address, City or Town", "label": "Entity Address, City or Town", "documentation": "Name of the City or Town" } } }, "auth_ref": [] }, "dei_EntityAddressPostalZipCode": { "xbrltype": "normalizedStringItemType", "nsuri": "http://xbrl.sec.gov/dei/2023", "localname": "EntityAddressPostalZipCode", "presentation": [ "http://www.sbgi.net/role/CoverPageCoverPage" ], "lang": { "en-us": { "role": { "terseLabel": "Entity Address, Postal Zip Code", "label": "Entity Address, Postal Zip Code", "documentation": "Code for the postal or zip code" } } }, "auth_ref": [] }, "dei_EntityAddressStateOrProvince": { "xbrltype": "stateOrProvinceItemType", "nsuri": "http://xbrl.sec.gov/dei/2023", "localname": "EntityAddressStateOrProvince", "presentation": [ "http://www.sbgi.net/role/CoverPageCoverPage" ], "lang": { "en-us": { "role": { "terseLabel": "Entity Address, State or Province", "label": "Entity Address, State or Province", "documentation": "Name of the state or province." } } }, "auth_ref": [] }, "dei_EntityCentralIndexKey": { "xbrltype": "centralIndexKeyItemType", "nsuri": "http://xbrl.sec.gov/dei/2023", "localname": "EntityCentralIndexKey", "presentation": [ "http://www.sbgi.net/role/CoverPageCoverPage" ], "lang": { "en-us": { "role": { "terseLabel": "Entity Central Index Key", "label": "Entity Central Index Key", "documentation": "A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK." } } }, "auth_ref": [ "r1" ] }, "dei_EntityDomain": { "xbrltype": "domainItemType", "nsuri": "http://xbrl.sec.gov/dei/2023", "localname": "EntityDomain", "presentation": [ "http://www.sbgi.net/role/CoverPageCoverPage" ], "lang": { "en-us": { "role": { "terseLabel": "Entity [Domain]", "label": "Entity [Domain]", "documentation": "All the names of the entities being reported upon in a document. Any legal structure used to conduct activities or to hold assets. Some examples of such structures are corporations, partnerships, limited liability companies, grantor trusts, and other trusts. This item does not include business and geographical segments which are included in the geographical or business segments domains." } } }, "auth_ref": [] }, "dei_EntityEmergingGrowthCompany": { "xbrltype": "booleanItemType", "nsuri": "http://xbrl.sec.gov/dei/2023", "localname": "EntityEmergingGrowthCompany", "presentation": [ "http://www.sbgi.net/role/CoverPageCoverPage" ], "lang": { "en-us": { "role": { "terseLabel": "Entity Emerging Growth Company", "label": "Entity Emerging Growth Company", "documentation": "Indicate if registrant meets the emerging growth company criteria." } } }, "auth_ref": [ "r1" ] }, "dei_EntityFileNumber": { "xbrltype": "fileNumberItemType", "nsuri": "http://xbrl.sec.gov/dei/2023", "localname": "EntityFileNumber", "presentation": [ "http://www.sbgi.net/role/CoverPageCoverPage" ], "lang": { "en-us": { "role": { "terseLabel": "Entity File Number", "label": "Entity File Number", "documentation": "Commission file number. The field allows up to 17 characters. The prefix may contain 1-3 digits, the sequence number may contain 1-8 digits, the optional suffix may contain 1-4 characters, and the fields are separated with a hyphen." } } }, "auth_ref": [] }, "dei_EntityIncorporationStateCountryCode": { "xbrltype": "edgarStateCountryItemType", "nsuri": "http://xbrl.sec.gov/dei/2023", "localname": "EntityIncorporationStateCountryCode", "presentation": [ "http://www.sbgi.net/role/CoverPageCoverPage" ], "lang": { "en-us": { "role": { "terseLabel": "Entity Incorporation, State or Country Code", "label": "Entity Incorporation, State or Country Code", "documentation": "Two-character EDGAR code representing the state or country of incorporation." } } }, "auth_ref": [] }, "dei_EntityRegistrantName": { "xbrltype": "normalizedStringItemType", "nsuri": "http://xbrl.sec.gov/dei/2023", "localname": "EntityRegistrantName", "presentation": [ "http://www.sbgi.net/role/CoverPageCoverPage" ], "lang": { "en-us": { "role": { "terseLabel": "Entity Registrant Name", "label": "Entity Registrant Name", "documentation": "The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC." } } }, "auth_ref": [ "r1" ] }, "dei_EntityTaxIdentificationNumber": { "xbrltype": "employerIdItemType", "nsuri": "http://xbrl.sec.gov/dei/2023", "localname": "EntityTaxIdentificationNumber", "presentation": [ "http://www.sbgi.net/role/CoverPageCoverPage" ], "lang": { "en-us": { "role": { "terseLabel": "Entity Tax Identification Number", "label": "Entity Tax Identification Number", "documentation": "The Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS." } } }, "auth_ref": [ "r1" ] }, "dei_LegalEntityAxis": { "xbrltype": "stringItemType", "nsuri": "http://xbrl.sec.gov/dei/2023", "localname": "LegalEntityAxis", "presentation": [ "http://www.sbgi.net/role/CoverPageCoverPage" ], "lang": { "en-us": { "role": { "terseLabel": "Legal Entity [Axis]", "label": "Legal Entity [Axis]", "documentation": "The set of legal entities associated with a report." } } }, "auth_ref": [] }, "dei_LocalPhoneNumber": { "xbrltype": "normalizedStringItemType", "nsuri": "http://xbrl.sec.gov/dei/2023", "localname": "LocalPhoneNumber", "presentation": [ "http://www.sbgi.net/role/CoverPageCoverPage" ], "lang": { "en-us": { "role": { "terseLabel": "Local Phone Number", "label": "Local Phone Number", "documentation": "Local phone number for entity." } } }, "auth_ref": [] }, "dei_PreCommencementIssuerTenderOffer": { "xbrltype": "booleanItemType", "nsuri": "http://xbrl.sec.gov/dei/2023", "localname": "PreCommencementIssuerTenderOffer", "presentation": [ "http://www.sbgi.net/role/CoverPageCoverPage" ], "lang": { "en-us": { "role": { "terseLabel": "Pre-commencement Issuer Tender Offer", "label": "Pre-commencement Issuer Tender Offer", "documentation": "Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act." } } }, "auth_ref": [ "r3" ] }, "dei_PreCommencementTenderOffer": { "xbrltype": "booleanItemType", "nsuri": "http://xbrl.sec.gov/dei/2023", "localname": "PreCommencementTenderOffer", "presentation": [ "http://www.sbgi.net/role/CoverPageCoverPage" ], "lang": { "en-us": { "role": { "terseLabel": "Pre-commencement Tender Offer", "label": "Pre-commencement Tender Offer", "documentation": "Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act." } } }, "auth_ref": [ "r4" ] }, "dei_Security12bTitle": { "xbrltype": "securityTitleItemType", "nsuri": "http://xbrl.sec.gov/dei/2023", "localname": "Security12bTitle", "presentation": [ "http://www.sbgi.net/role/CoverPageCoverPage" ], "lang": { "en-us": { "role": { "terseLabel": "Title of 12(b) Security", "label": "Title of 12(b) Security", "documentation": "Title of a 12(b) registered security." } } }, "auth_ref": [ "r0" ] }, "dei_SecurityExchangeName": { "xbrltype": "edgarExchangeCodeItemType", "nsuri": "http://xbrl.sec.gov/dei/2023", "localname": "SecurityExchangeName", "presentation": [ "http://www.sbgi.net/role/CoverPageCoverPage" ], "lang": { "en-us": { "role": { "terseLabel": "Security Exchange Name", "label": "Security Exchange Name", "documentation": "Name of the Exchange on which a security is registered." } } }, "auth_ref": [ "r2" ] }, "sbgi_SinclairBroadcastGroupLLCMember": { "xbrltype": "domainItemType", "nsuri": "http://www.sbgi.net/20240508", "localname": "SinclairBroadcastGroupLLCMember", "presentation": [ "http://www.sbgi.net/role/CoverPageCoverPage" ], "lang": { "en-us": { "role": { "terseLabel": "Sinclair Broadcast Group, LLC", "label": "Sinclair Broadcast Group, LLC [Member]", "documentation": "Sinclair Broadcast Group, LLC" } } }, "auth_ref": [] }, "dei_SolicitingMaterial": { "xbrltype": "booleanItemType", "nsuri": "http://xbrl.sec.gov/dei/2023", "localname": "SolicitingMaterial", "presentation": [ "http://www.sbgi.net/role/CoverPageCoverPage" ], "lang": { "en-us": { "role": { "terseLabel": "Soliciting Material", "label": "Soliciting Material", "documentation": "Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as soliciting material pursuant to Rule 14a-12 under the Exchange Act." } } }, "auth_ref": [ "r5" ] }, "dei_TradingSymbol": { "xbrltype": "tradingSymbolItemType", "nsuri": "http://xbrl.sec.gov/dei/2023", "localname": "TradingSymbol", "presentation": [ "http://www.sbgi.net/role/CoverPageCoverPage" ], "lang": { "en-us": { "role": { "terseLabel": "Trading Symbol", "label": "Trading Symbol", "documentation": "Trading symbol of an instrument as listed on an exchange." } } }, "auth_ref": [] }, "dei_WrittenCommunications": { "xbrltype": "booleanItemType", "nsuri": "http://xbrl.sec.gov/dei/2023", "localname": "WrittenCommunications", "presentation": [ "http://www.sbgi.net/role/CoverPageCoverPage" ], "lang": { "en-us": { "role": { "terseLabel": "Written Communications", "label": "Written Communications", "documentation": "Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act." } } }, "auth_ref": [ "r6" ] } } } }, "std_ref": { "r0": { "role": "http://www.xbrl.org/2003/role/presentationRef", "Publisher": "SEC", "Name": "Exchange Act", "Number": "240", "Section": "12", "Subsection": "b" }, "r1": { "role": "http://www.xbrl.org/2003/role/presentationRef", "Publisher": "SEC", "Name": "Exchange Act", "Number": "240", "Section": "12", "Subsection": "b-2" }, "r2": { "role": "http://www.xbrl.org/2003/role/presentationRef", "Publisher": "SEC", "Name": "Exchange Act", "Number": "240", "Section": "12", "Subsection": "d1-1" }, "r3": { "role": "http://www.xbrl.org/2003/role/presentationRef", "Publisher": "SEC", "Name": "Exchange Act", "Number": "240", "Section": "13e", "Subsection": "4c" }, "r4": { "role": "http://www.xbrl.org/2003/role/presentationRef", "Publisher": "SEC", "Name": "Exchange Act", "Number": "240", "Section": "14d", "Subsection": "2b" }, "r5": { "role": "http://www.xbrl.org/2003/role/presentationRef", "Publisher": "SEC", "Name": "Exchange Act", "Section": "14a", "Number": "240", "Subsection": "12" }, "r6": { "role": "http://www.xbrl.org/2003/role/presentationRef", "Publisher": "SEC", "Name": "Securities Act", "Number": "230", "Section": "425" } } } ZIP 17 0001971213-24-000033-xbrl.zip IDEA: XBRL DOCUMENT begin 644 0001971213-24-000033-xbrl.zip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end XML 19 sbgi-20240508_htm.xml IDEA: XBRL DOCUMENT 0001971213 2024-05-08 2024-05-08 0001971213 sbgi:SinclairBroadcastGroupLLCMember 2024-05-08 2024-05-08 false 0001971213 0000912752 10706 Beaver Dam Road Hunt Valley MD 21030 410 568-1500 8-K 2024-05-08 Sinclair, Inc. MD 333-271072 92-1076143 Sinclair Broadcast Group, LLC MD 000-26076 52-1494660 10706 Beaver Dam Road Hunt Valley MD 21030 410 568-1500 false false false false Class A Common Stock, par value $ 0.01 per share SBGI NASDAQ false false