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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
REVENUES:        
Media revenues $ 777 $ 819 $ 1,547 $ 1,611
Non-media revenues 7 10 13 16
Total revenues 784 829 1,560 1,627
OPERATING EXPENSES:        
Media programming and production expenses 420 425 838 833
Media selling, general and administrative expenses 200 194 392 390
Amortization of program costs 17 18 36 37
Non-media expenses 13 13 24 25
Depreciation of property and equipment 24 25 50 50
Corporate general and administrative expenses 45 50 97 108
Amortization of definite-lived intangible assets 35 38 71 76
Loss on asset dispositions and other, net 9 2 17 2
Total operating expenses 763 765 1,525 1,521
Operating income 21 64 35 106
OTHER INCOME (EXPENSE):        
Interest expense including amortization of debt discount and deferred financing costs (82) (76) (226) (152)
Gain on extinguishment of debt 4 0 6 1
(Loss) income from equity method investments (1) 78 (7) 92
Other expense, net (18) (42) (84) (2)
Total other expense, net (97) (40) (311) (61)
(Loss) income before income taxes (76) 24 (276) 45
INCOME TAX BENEFIT (PROVISION) 14 (5) 60 (1)
NET (LOSS) INCOME (62) 19 (216) 44
Net income attributable to the noncontrolling interests (2) (2) (4) (4)
NET (LOSS) INCOME ATTRIBUTABLE TO SINCLAIR $ (64) $ 17 $ (220) $ 40
EARNINGS PER COMMON SHARE ATTRIBUTABLE TO SINCLAIR:        
Basic earnings per share (in dollars per share) $ (0.91) $ 0.27 $ (3.20) $ 0.61
Diluted earnings per share (in dollars per share) $ (0.91) $ 0.27 $ (3.20) $ 0.61
Basic weighted average common shares outstanding (in shares) 69,589 66,189 68,545 65,172
Diluted weighted average common and common equivalent shares outstanding (in shares) 69,589 66,189 68,545 65,296