ACQUISITIONS AND DISPOSITIONS OF ASSETS (Tables)

9 Months Ended

Sep. 30, 2020

Business Combinations [Abstract]

Schedule of Allocated Fair Value of Acquired Assets and Liabilities Assumed

The following table summarizes the fair value of acquired assets, assumed liabilities, and noncontrolling interests of the Acquired RSNs (in millions):

Cash and cash equivalents	$	824
Accounts receivable, net	606
Prepaid expenses and other current assets	175
Property and equipment, net	25
Customer relationships, net	5,439
Other definite-lived intangible assets, net	1,286
Other assets	52
Accounts payable and accrued liabilities	(181		)
Other long-term liabilities	(396		)
Goodwill	2,615
Fair value of identifiable net assets acquired	$	10,445
Redeemable noncontrolling interests	(380		)
Noncontrolling interests	(248		)
Gross purchase price	$	9,817
Purchase price, net of cash acquired	$	8,993

Business Acquisition, Pro Forma Information

The table below sets forth unaudited pro forma results of operations, assuming that the RSN Acquisition, along with transactions necessary to finance the acquisition, occurred at the beginning of the period presented (in millions, except per share data):

	Three Months Ended   September 30, 2019			Nine Months Ended   September 30, 2019
Total revenue	$	1,632		$	5,067
Net income	$	9		$	434
Net (loss) income attributable to Sinclair Broadcast Group	$	(41	)	$	274
Basic earnings per share attributable to Sinclair Broadcast Group	$	(0.44	)	$	2.98
Diluted earnings per share attributable to Sinclair Broadcast Group	$	(0.44	)	$	2.94