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NOTES PAYABLE AND COMMERCIAL BANK FINANCING (Tables)
 12 Months Ended
Dec. 31, 2025
Debt Instrument [Line Items]  
Schedule of Notes Payable, Finance leases, and Commercial Bank Financing
Notes payable, finance leases, and commercial bank financing (including “finance leases to affiliates”) consisted of the following as of December 31, 2025 and 2024 (in millions):
 20252024
Credit Agreements:
Term Loan B-2, due September 30, 2026 (a)$— $1,175 
Term Loan B-3, due April 1, 2028 (a)3 714 
Term Loan B-4, due April 21, 2029 (a)— 731 
Term Loan B-6, due December 31, 2029 (a)706 — 
Term Loan B-7, due December 31, 2030 (a)726 — 
STG Notes:
5.125% Senior notes, due February 15, 2027 (a) (b)
— 274 
5.500% Senior notes, due March 1, 2030
485 485 
4.125% Senior Secured Notes, due December 1, 2030 (a)
— 737 
4.125% Unsecured Notes, due December 1, 2030 (a)
4 — 
9.750% Second Lien Senior Secured Notes, due February 15, 2033 (a)
432 — 
8.125% First-Out First Lien Secured Notes, due February 15, 2033 (a)
1,430 — 
4.375% Second-Out First Lien Secured Notes, due December 31, 2032 (a)
238 — 
A/R Facility375 — 
Debt of variable interest entities6 7 
Finance leases24 30 
Finance leases - affiliate9 12 
Total outstanding principal4,438 4,165 
Less: Deferred financing costs and discounts(55)(36)
Less: Current portion(22)(35)
Less: Finance leases - affiliate, current portion(3)(3)
Net carrying value of long-term debt$4,358 $4,091 
 
(a)Sinclair Television Group, Inc. (“STG”) completed a series of financing transactions, including a new money financing and debt recapitalization, during the year ended December 31, 2025. See Credit Agreements and Notes below.
(b)In April 2025 and October 2025, STG repurchased $81 million and the remaining $89 million, respectively, aggregate principal amount of the 5.125% Senior Notes due 2027. See Credit Agreements and Notes below.
Schedule of Bank Credit Agreement, Notes Payable, and Finance Leases
Debt under the New Credit Agreement, Amended Credit Agreement, notes payable, and finance leases as of December 31, 2025 matures as follows (in millions):
 Notes and 
Credit Agreements		Finance LeasesTotal
2026$17 $10 $27 
202718 8 26 
2028392 6 398 
2029692 6 698 
20301,186 5 1,191 
2031 and thereafter2,100 5 2,105 
Total minimum payments4,405 40 4,445 
Less: Deferred financing costs and discounts(55)— (55)
Less: Amount representing future interest— (7)(7)
Net carrying value of total debt$4,350 $33 $4,383 
Schedule of Stated and Weighted Average Effective Interest Rates
The stated and weighted average effective interest rates on the above obligations are as follows, for the years ended December 31, 2025 and 2024:
Weighted Average Effective Rate
Stated Rate20252024
Credit Agreements:
Term Loan B-2
SOFR plus 2.50%
6.91%8.17%
Term Loan B-3
SOFR plus 3.00%
6.98%8.64%
Term Loan B-4 (a)
SOFR plus 3.75%
8.51%9.83%
Term Loan B-6 (a)
SOFR plus 3.30%
7.30%—%
Term Loan B-7 (a)
SOFR plus 4.10%
8.37%—%
Revolving Credit Facility (a) (b)
SOFR plus 2.00%
—%—%
STG Notes:
5.125% Unsecured Notes
5.13%5.33%5.33%
5.500% Unsecured Notes
5.50%5.66%5.66%
4.125% Secured Notes
4.13%4.31%4.31%
4.125% Unsecured Notes
4.13%4.31%—%
9.750% Secured Notes
9.75%10.17%—%
8.125% Secured Notes
8.13%8.29%—%
4.375% Secured Notes
4.38%4.52%—%
A/R Facility
SOFR plus 1.25%
6.91%—%
(a)Interest rate terms on the STG Term Loan B-4, B-6, and B-7, the revolving credit facility, and the A/R Facility (as defined below) include additional customary credit spread adjustments.
(b)We incur a commitment fee on undrawn capacity of 0.25%, 0.375%, or 0.50% if our first lien leverage ratio (as defined in the New Credit Agreement) is less than or equal to 2.75x, less than or equal to 3.0x but greater than 2.75x, or greater than 3.0x, respectively. As of December 31, 2025, there were no outstanding borrowings, $1 million in letters of credit outstanding, and $612 million available under the revolving credit facility. As of December 31, 2024, there were no outstanding borrowings, $1 million in letters of credit outstanding, and $649 million available under the revolving credit facility. The total revolving credit facility contains two tranches, one for $575 million which matures on February 12, 2030 and one for $37.5 million which matures on April 21, 2027. See Credit Agreements and Notes below for further information.
Sinclair Broadcast Group, LLC  
Debt Instrument [Line Items]  
Schedule of Notes Payable, Finance leases, and Commercial Bank Financing
Notes payable, finance leases, and commercial bank financing (including “finance leases to affiliates”) consisted of the following as of December 31, 2025 and 2024 (in millions):
 20252024
Credit Agreements:
Term Loan B-2, due September 30, 2026 (a)$— $1,175 
Term Loan B-3, due April 1, 2028 (a)3 714 
Term Loan B-4, due April 21, 2029 (a)— 731 
Term Loan B-6, due December 31, 2029 (a)706 — 
Term Loan B-7, due December 31, 2030 (a)726 — 
STG Notes:
5.125% Senior notes, due February 15, 2027 (a) (b)
— 274 
5.500% Senior notes, due March 1, 2030
485 485 
4.125% Senior Secured Notes, due December 1, 2030 (a)
— 737 
4.125% Unsecured Notes, due December 1,2030 (a)
4 — 
9.750% Second Lien Senior Secured Notes, due February 15, 2033 (a)
432 — 
8.125% First-Out First Lien Secured Notes, due February 15, 2033 (a)
1,430 — 
4.375% Second-Out First Lien Secured Notes, due December 31, 2032 (a)
238 — 
A/R Facility375 — 
Debt of variable interest entities6 7 
Finance leases24 30 
Finance leases - affiliate9 12 
Total outstanding principal4,438 4,165 
Less: Deferred financing costs and discounts(55)(36)
Less: Current portion(22)(35)
Less: Finance leases - affiliate, current portion(3)(3)
Net carrying value of long-term debt$4,358 $4,091 
 
(a)Sinclair Television Group, Inc. (“STG”) completed a series of financing transactions, including a new money financing and debt recapitalization, during the year ended December 31, 2025. See Credit Agreements and Notes below.
(b)In April 2025 and October 2025, STG repurchased $81 million and the remaining $89 million, respectively, aggregate principal amount of the 5.125% Senior Notes due 2027. See Credit Agreements and Notes below.
Schedule of Bank Credit Agreement, Notes Payable, and Finance Leases
 Notes and 
Credit Agreements		Finance LeasesTotal
2026$17 $10 $27 
202718 8 26 
2028392 6 398 
2029692 6 698 
20301,186 5 1,191 
2031 and thereafter2,100 5 2,105 
Total minimum payments4,405 40 4,445 
Less: Deferred financing costs and discounts(55)— (55)
Less: Amount representing future interest— (7)(7)
Net carrying value of total debt$4,350 $33 $4,383 
Schedule of Stated and Weighted Average Effective Interest Rates
The stated and weighted average effective interest rates on the above obligations are as follows, for the years ended December 31, 2025 and 2024:
Weighted Average Effective Rate
Stated Rate20252024
Credit Agreements:
Term Loan B-2
SOFR plus 2.50%
6.91%8.17%
Term Loan B-3
SOFR plus 3.00%
6.98%8.64%
Term Loan B-4 (a)
SOFR plus 3.75%
8.51%9.83%
Term Loan B-6 (a)
SOFR plus 3.30%
7.30%—%
Term Loan B-7 (a)
SOFR plus 4.10%
8.37%—%
Revolving Credit Facility (a) (b)
SOFR plus 2.00%
—%—%
STG Notes:
5.125% Unsecured Notes
5.13%5.33%5.33%
5.500% Unsecured Notes
5.50%5.66%5.66%
4.125% Secured Notes
4.13%4.31%4.31%
4.125% Unsecured Notes
4.13%4.31%—%
9.750% Secured Notes
9.75%10.17%—%
8.125% Secured Notes
8.13%8.29%—%
4.375% Secured Notes
4.38%4.52%—%
A/R Facility
SOFR plus 1.25%
6.91%—%
(a)Interest rate terms on the STG Term Loan B-4, B-6, and B-7, revolving credit facility, and the A/R Facility (as defined below) include additional customary credit spread adjustments.
(b)STG incurs a commitment fee on undrawn capacity of 0.25%, 0.375%, or 0.50% if STG’s first lien leverage ratio (as defined in the New Credit Agreement) is less than or equal to 2.75x, less than or equal to 3.0x but greater than 2.75x, or greater than 3.0x, respectively. As of December 31, 2025, there were no outstanding borrowings, $1 million in letters of credit outstanding, and $612 million available under the revolving credit facility. As of December 31, 2024, there were no outstanding borrowings, $1 million in letters of credit outstanding, and $649 million available under the revolving credit facility. The total revolving credit facility contains two tranches, one for $575 million which expires on February 12, 2030 and one for $37.5 million which expires on April 21, 2027. See Credit Agreements and Notes below for further information.