SEGMENT DATA (Tables)

6 Months Ended

Jun. 30, 2024

Segment data

Schedule of Segment Financial Information

Segment financial information is included in the following tables for the periods presented (in millions):

As of June 30, 2024	Local Media		Tennis		Other & Corporate		Eliminations		Consolidated
Assets	$	4,418	$	307	$	964	$	(3)	$	5,686

For the three months ended June 30, 2024	Local Media		Tennis		Other & Corporate		Eliminations			Consolidated
Revenue	$	750	$	67	$	20	$	(8)	(a)	$	829
Depreciation of property and equipment and amortization of definite-lived intangibles and other assets	58		6		—		(1)			63
Amortization of program costs	18		—		—		—			18
Corporate general and administrative expenses	29		—		21		—			50
Operating income (loss)	83		1		(20)		—			64
Interest expense including amortization of debt discount and deferred financing costs	76		—		—		—			76
Income from equity method investments	—		—		78		—			78
For the six months ended June 30, 2024	Local Media		Tennis		Other & Corporate		Eliminations			Consolidated
Revenue	$	1,477	$	130	$	35	$	(15)	(a)	$	1,627
Depreciation of property and equipment and amortization of definite-lived intangibles and other assets	116		11		1		(2)			126
Amortization of program costs	37		—		—		—			37
Corporate general and administrative expenses	70		1		37		—			108
Loss on asset dispositions and other, net of impairment	—		—		2		—			2
Operating income (loss)	124		21		(39)		—			106
Interest expense including amortization of debt discount and deferred financing costs	152		—		—		—			152
(Loss) income from equity method investments	—		(1)		93		—			92

For the three months ended June 30, 2023	Local Media		Tennis		Other & Corporate		Eliminations			Consolidated
Revenue	$	699	$	60	$	14	$	(5)	(a)	$	768
Depreciation of property and equipment and amortization of definite-lived intangibles and other assets	67		5		1		—			73
Amortization of program costs	19		—		—		—			19
Corporate general and administrative expenses	46		—		16		—			62
(Gain) loss on asset dispositions and other, net of impairment	(2)		—		7		—			5
Operating income (loss)	22		3		(28)		—			(3)
Interest expense including amortization of debt discount and deferred financing costs	76		—		—		—			76
Loss from equity method investments	—		—		(1)		—			(1)
For the six months ended June 30, 2023	Local Media		Tennis		Other & Corporate		Eliminations			Consolidated
Revenue	$	1,404	115		31		(9)		(a)	$	1,541
Depreciation of property and equipment and amortization of definite-lived intangibles and other assets	126		10		3		(1)			138
Amortization of program costs	41		—		—		—			41
Corporate general and administrative expenses	78		—		42		—			120
(Gain) loss on asset dispositions and other, net of impairment	(3)		—		14		—			11
Operating income (loss)	63		21		(66)		—			18
Interest expense including amortization of debt discount and deferred financing costs	150		—		—		—			150
Income from equity method investments	—		—		30		—			30

(a)Includes $3 million and $5 million for the three and six months ended June 30, 2024, respectively, and $2 million and $3 million for the three and six months ended June 30, 2023, respectively, of revenue for services provided by other to local media, which is eliminated in consolidation.

Sinclair Broadcast Group, LLC

Segment data

Schedule of Segment Financial Information

Segment financial information is included in the following tables for the periods presented (in millions):

As of June 30, 2024	Local Media		Corporate		Consolidated
Assets	$	4,439	$	85	$	4,524

For the three months ended June 30, 2024	Local Media		Corporate		Consolidated
Revenue	$	750	$	—	$	750
Depreciation of property and equipment and amortization of definite-lived intangibles and other assets	58		—		58
Amortization of program costs	18		—		18
Corporate general and administrative expenses	29		6		35
Operating income (loss)	83		(6)		77
Interest expense including amortization of debt discount and deferred financing costs	76		—		76
For the six months ended June 30, 2024	Local Media		Corporate		Consolidated
Revenue	$	1,477	—		1,477
Depreciation of property and equipment and amortization of definite-lived intangibles and other assets	116		—		116
Amortization of program costs	37		—		37
Corporate general and administrative expenses	70		6		76
Operating income (loss)	124		(6)		118
Interest expense including amortization of debt discount and deferred financing costs	152		—		152

For the three months ended June 30, 2023	Local Media		Other & Corporate (a)		Eliminations			Consolidated
Revenue	$	699	$	47	$	(3)		$	743
Depreciation of property and equipment and amortization of definite-lived intangibles and other assets	67		3		—			70
Amortization of program costs	19		—		—			19
Corporate general and administrative expenses	46		12		—			58
(Gain) loss on asset dispositions and other, net of impairment	(2)		6		—			4
Operating income (loss)	22		(18)		—			4
Interest expense including amortization of debt discount and deferred financing costs	76		—		—			76
For the six months ended June 30, 2023	Local Media		Other & Corporate (a)		Eliminations			Consolidated
Revenue	$	1,404	119		(7)		(b)	$	1,516
Depreciation of property and equipment and amortization of definite-lived intangibles and other assets	126		10		(1)			135
Amortization of program costs	41		—		—			41
Corporate general and administrative expenses	78		38		—			116
(Gain) loss on asset dispositions and other, net of impairment	(3)		13		—			10
Operating income (loss)	63		(38)		—			25
Interest expense including amortization of debt discount and deferred financing costs	150		—		—			150
Income from equity method investments	—		31		—			31

(a)Represents the activity in tennis, non-broadcast digital and internet solutions, technical services, and non-media investments (collectively, other) prior to the Reorganization on June 1, 2023 and the activity in corporate prior and subsequent to the Reorganization. See Company Reorganization within Note 1. Nature of Operations and Summary of Significant Accounting Policies.

(b)Includes $1 million for the six months ended June 30, 2023 of revenue for services provided by local media to other, which is eliminated in consolidation.