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INCOME TAXES (Tables)
 12 Months Ended
Dec. 31, 2025
Operating Loss Carryforwards [Line Items]  
Schedule of (Benefit) Provision For Income Taxes
The (benefit) provision for income taxes consisted of the following for the years ended December 31, 2025, 2024, and 2023 (in millions):
 202520242023
Current provision (benefit) for income taxes:   
Federal$48 $(10)$5 
State19 4 (5)
 67 (6)— 
Deferred (benefit) provision for income taxes:   
Federal(84)86 (342)
State(37)(4)(16)
 (121)82 (358)
(Benefit) provision for income taxes$(54)$76 $(358)
Schedule of Federal Tax Rate Reconciliation
A reconciliation of the provision for income taxes to the amount computed by applying the 21% statutory U.S. federal income tax rate to income before taxes for the year ended December 31, 2025, after the prospective adoption of ASU 2023-09, is as follows (in millions, except percentages):
 20252025
Tax Expense/(Benefit)Estimated Tax Rate
U.S. federal statutory tax rate$(32)21.0 %
State income taxes, net of federal tax benefit (a) (b)(22)14.5 %
Tax credits (federal R&D credit)(4)2.7 %
Nontaxable or nondeductible items:
Executive compensation6 (3.7)%
Other— (0.3)%
Changes in unrecognized tax benefits2 (1.2)%
Other adjustments:
Pending tax refunds interest income(6)3.8 %
Effect of consolidated VIEs3 (1.8)%
Other(1)0.6 %
Effective income tax rate$(54)35.6 %
(a)The 2025 state jurisdiction that contributes to the majority (greater than 50%) of the tax effect in this category is Maryland.
(b)Includes a $23 million decrease in valuation allowance primarily as a result of a change in recent years from cumulative loss to cumulative earnings in certain state jurisdictions.
A reconciliation of the provision for income taxes to the amount computed by applying the 21% statutory U.S. federal income tax rate to income before taxes for years ended December 31, 2024 and 2023, prior to the prospective adoption of ASU 2023-09, is as follows:
 20242023
U.S. federal statutory tax rate21.0 %21.0 %
Adjustments:
State income taxes, net of federal tax benefit (a)5.1 %4.6 %
Valuation allowance (b)(4.9)%30.6 %
Pending tax refunds interest income (c)(3.4)%— %
Federal tax credits(1.5)%0.6 %
Other2.8 %(0.5)%
Effective income tax rate19.1 %56.3 %
(a)Included in state income taxes are deferred income tax effects related to certain acquisitions, intercompany mergers, tax elections, law changes and/or impact of changes in apportionment.
(b)Our 2024 income tax provision includes a $19 million decrease in valuation allowance primarily as a result of a change in recent years from cumulative loss to cumulative earnings in certain state jurisdictions, and a remeasurement of state net deferred tax assets due to state apportionment updates. Our 2023 income tax provision includes a $212 million decrease related to the release of valuation allowance associated with the federal interest expense carryforwards under the IRC Section 163(j).
(c)Our 2024 income tax provision includes a $14 million accrual of interest income attributable to prior years’ pending income tax refund claims, including an immaterial $7.5 million correcting adjustment related to the accrual of interest income attributable to prior years’ pending income tax refund claims.
Schedule of Total Deferred Tax Assets And Deferred Tax Liabilities Total deferred tax assets and deferred tax liabilities as of December 31, 2025 and 2024 were as follows (in millions):
 20252024
Deferred Tax Assets:  
Net operating losses:  
Federal$10 $86 
State119 149 
Investment in Bally's securities54 62 
IRC Section 163(j) interest expense carryforward38 139 
Operating lease liabilities32 38 
Capitalized research and development expenses10 52 
Tax Credits1 91 
Other59 42 
 323 659 
Valuation allowance for deferred tax assets(74)(101)
Total deferred tax assets$249 $558 
Deferred Tax Liabilities:  
Goodwill and intangible assets$(344)$(360)
Property & equipment, net(86)(93)
Operating lease assets(26)(32)
Investment in Diamond— (405)
Other(6)(3)
Total deferred tax liabilities(462)(893)
Net deferred tax liabilities$(213)$(335)
Schedule of Unrecognized Tax Benefit Activity
The following table summarizes the activity related to our accrued unrecognized tax benefits for the years ended December 31, 2025, 2024, and 2023 (in millions):
 202520242023
Balance at January 1,$15 $14 $17 
Additions related to current year tax positions— 1 1 
Reductions related to settlements with taxing authorities— — (2)
Reductions related to expiration of the applicable statute of limitations— — (2)
Balance at December 31,$15 $15 $14 
Schedule of Net Cash Income Taxes Paid
The net cash income taxes paid by the Company for the year ended December 31, 2025 were as follows (in millions):

 2025
Federal$31 
State & local:
California6 
Other8 
Foreign— 
Income taxes, net of amounts refunded$45 
Sinclair Broadcast Group, LLC  
Operating Loss Carryforwards [Line Items]  
Schedule of (Benefit) Provision For Income Taxes
The (benefit) provision for income taxes consisted of the following for the years ended December 31, 2025, 2024, and 2023 (in millions):
 202520242023
Current provision (benefit) for income taxes:   
Federal$37 $(35)$5 
State19 4 (5)
 56 (31)— 
Deferred (benefit) provision for income taxes:
Federal(85)95 (331)
State(34)(4)(28)
 (119)91 (359)
(Benefit) provision for income taxes$(63)$60 $(359)
Schedule of Federal Tax Rate Reconciliation
A reconciliation of the provision for income taxes to the amount computed by applying the 21% statutory U.S. federal income tax rate to income before taxes for the year ended December 31, 2025, after the prospective adoption of ASU 2023-09, is as follows (in millions, except percentages):
20252025
 Tax Expense/(Benefit)Estimated Tax Rate
U.S. federal statutory tax rate$(46)21.0 %
State income taxes, net of federal tax benefit (a) (b)(19)8.6 %
Tax credits (federal R&D credit)(4)1.8 %
Nontaxable or nondeductible items:
Executive compensation6 (2.6)%
Other— (0.1)%
Changes in unrecognized tax benefits2 (0.8)%
Other adjustments:
Pending tax refunds interest income(6)2.7 %
Effective of consolidated VIEs3 (1.3)%
Other1 (0.4)%
Effective income tax rate$(63)28.9 %
(a)The 2025 state jurisdiction that contributes to the majority (greater than 50%) of the tax effect in this category is Maryland.
(b)Includes a $22 million decrease in valuation allowance primarily as a result of a change in recent years from cumulative loss to cumulative earnings in certain state jurisdictions.

A reconciliation of the provision for income taxes to the amount computed by applying the 21% statutory U.S. federal income tax rate to income before taxes for years ended December 31, 2024 and 2023, prior to the prospective adoption of ASU 2023-09, is as follows:
 20242023
U.S. federal statutory tax rate21.0 %21.0 %
Adjustments:
State income taxes, net of federal tax benefit (a)6.0 %4.7 %
Valuation allowance (b)(5.8)%33.5 %
Pending tax refunds interest income (c)(4.6)%— %
Non-deductible items1.9 %(0.6)%
Federal tax credits(1.9)%0.6 %
Adjustment to prior year taxes1.7 %— %
Other2.0 %0.2 %
Effective income tax rate20.3 %59.4 %
(a)Included in state income taxes are deferred income tax effects related to certain acquisitions, intercompany mergers, tax elections, law changes and/or impact of changes in apportionment.
(b)SBG’s 2024 income tax provision includes a $17 million decrease in valuation allowance primarily result of a change in recent years from cumulative loss to cumulative earnings in certain state jurisdictions, and a remeasurement of state net deferred tax assets due to state apportionment updates. SBG’s 2023 income tax provision includes a $212 million decrease related to the release of valuation allowance associated with the federal interest expense carryforwards under the IRC Section 163(j).
(c)SBG’s 2024 income tax provision includes a $14 million accrual of interest income attributable to prior years’ pending income tax refund claims, including an immaterial $7.5 million correcting adjustment related to the accrual of interest income attributable to prior years’ pending income tax refund claims.
Schedule of Total Deferred Tax Assets And Deferred Tax Liabilities Total deferred tax assets and deferred tax liabilities as of December 31, 2025 and 2024 were as follows (in millions):
 20252024
Deferred Tax Assets:
Net operating losses:
Federal$— $75 
State120 149 
IRC Section 163(j) interest expense carryforward52 139 
Operating lease liabilities30 36 
Tax Credits— 90 
Capitalized research and development expenses7 44 
Other41 45 
250 578 
Valuation allowance for deferred tax assets(74)(96)
Total deferred tax assets$176 $482 
Deferred Tax Liabilities:
Goodwill and intangible assets$(320)$(331)
Property & equipment, net(80)(87)
Investment in Diamond— (405)
Operating lease assets(26)(32)
Other(5)— 
Total deferred tax liabilities(431)(855)
Net deferred tax liabilities$(255)$(373)
Schedule of Unrecognized Tax Benefit Activity
The following table summarizes the activity related to SBG’s accrued unrecognized tax benefits for the years ended December 31, 2025, 2024, and 2023 (in millions):
 202520242023
Balance at January 1,$13 $12 $17 
Additions related to current year tax positions1 1 1 
Reductions related to positions transferred to Ventures— — (2)
Reductions related to settlements with taxing authorities— — (2)
Reductions related to expiration of the applicable statute of limitations— — (2)
Balance at December 31,$14 $13 $12 
Schedule of Net Cash Income Taxes Paid
The net cash income taxes paid by the Company for the year ended December 31, 2025 were as follows (in millions):

 2025
Federal$31 
State & local:
California6 
Other8 
Foreign— 
Income taxes, net of amounts refunded$45