SEGMENT DATA (Tables)

6 Months Ended

Jun. 30, 2025

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, 2025	Local Media		Tennis		Other & Corporate		Eliminations		Consolidated
Assets	$	4,416	$	286	$	969	$	(1)	$	5,670

For the three months ended June 30, 2025	Local Media		Tennis		Other & Corporate		Eliminations			Consolidated
Revenue	$	679	$	68	$	46	$	(9)	(b)	$	784
Media programming and production expenses	380		39		1		—			420
Media selling, general and administrative expenses	162		15		31		(8)			200
Depreciation of property and equipment and amortization of definite-lived intangibles and other assets	54		5		—		—			59
Amortization of program costs	17		—		—		—			17
Corporate general and administrative expenses	27		1		17		—			45
(Gain) loss on asset dispositions and other, net	(28)		—		37		—			9
Other segment items (a)	2		—		12		(1)			13
Operating income (loss)	$	65	$	8	$	(52)	$	—		$	21
Interest expense including amortization of debt discount and deferred financing costs	$	82	$	—	$	—	$	—		$	82
Loss from equity method investments	—		(1)		—		—			(1)
Gain on extinguishment of debt	4		—		—		—			4
Other income (expense), net	3		—		(21)		—			(18)
Loss before income taxes										$	(76)
For the six months ended June 30, 2025	Local Media		Tennis		Other & Corporate		Eliminations			Consolidated
Revenue	$	1,373	$	136	$	67	$	(16)	(b)	$	1,560
Media programming and production expenses	770		66		2		—			838
Media selling, general and administrative expenses	332		33		42		(15)			392
Depreciation of property and equipment and amortization of definite-lived intangibles and other assets	110		10		1		—			121
Amortization of program costs	36		—		—		—			36
Corporate general and administrative expenses	64		1		32		—			97
(Gain) loss on asset dispositions and other, net	(20)		—		37		—			17
Other segment items (a)	4		—		21		(1)			24
Operating income (loss)	$	77	$	26	$	(68)	$	—		$	35
Interest expense including amortization of debt discount and deferred financing costs	$	226	$	—	$	—	$	—		$	226
Loss from equity method investments	—		(2)		(5)		—			(7)
Gain on extinguishment of debt	6		—		—		—			6
Other income (expense), net	6		—		(90)		—			(84)
Loss before income taxes										$	(276)

For the three months ended June 30, 2024	Local Media		Tennis		Other & Corporate		Eliminations			Consolidated
Revenue	$	750	$	67	$	20	$	(8)	(b)	$	829
Media programming and production expenses	382		43		—		—			425
Media selling, general and administrative expenses	178		17		5		(6)			194
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
Loss on asset dispositions and other, net	—		—		2		—			2
Other segment items (a)	2		—		12		(1)			13
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
Other income (expense), net	2		—		(44)		—			(42)
Income before income taxes										$	24
For the six months ended June 30, 2024	Local Media		Tennis		Other & Corporate		Eliminations			Consolidated
Revenue	$	1,477	$	130	$	35	$	(15)	(b)	$	1,627
Media programming and production expenses	765		68		—		—			833
Media selling, general and administrative expenses	361		29		10		(10)			390
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	—		—		2		—			2
Other segment items (a)	4		—		24		(3)			25
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
Gain on extinguishment of debt	1		—		—		—			1
Other income (expense), net	33		—		(35)		—			(2)
Income before income taxes										$	45

(a)Other segment items relate primarily to non-media expenses.

(b)Includes $5 million and $9 million for the three and six months ended June 30, 2025, respectively, and $3 million and $5 million for the three and six months ended June 30, 2024, 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, 2025	Local Media		Corporate		Consolidated
Assets	$	4,423	$	61	$	4,484

For the three months ended June 30, 2025	Local Media		Corporate		Consolidated
Revenue	$	679	$	—	$	679
Media programming and production expenses	380		—		380
Media selling, general and administrative expenses	162		—		162
Depreciation of property and equipment and amortization of definite-lived intangibles and other assets	54		—		54
Amortization of program costs	17		—		17
Corporate general and administrative expenses	27		—		27
(Gain) loss on asset dispositions and other, net	(28)		37		9
Other segment items (a)	2		—		2
Operating income (loss)	$	65	$	(37)	$	28
Interest expense including amortization of debt discount and deferred financing costs	$	82	$	—	$	82
Gain on extinguishment of debt	4		—		4
Other income, net	3		—		3
Loss before income taxes					$	(47)
For the six months ended June 30, 2025	Local Media		Corporate		Consolidated
Revenue	$	1,373	$	—	$	1,373
Media programming and production expenses	770		—		770
Media selling, general and administrative expenses	332		—		332
Depreciation of property and equipment and amortization of definite-lived intangibles and other assets	110		—		110
Amortization of program costs	36		—		36
Corporate general and administrative expenses	64		—		64
(Gain) loss on asset dispositions and other, net	(20)		37		17
Other segment items (a)	4		—		4
Operating income (loss)	$	77	$	(37)	$	40
Interest expense including amortization of debt discount and deferred financing costs	$	226	$	—	$	226
Gain on extinguishment of debt	6		—		6
Other income, net	6		—		6
Loss before income taxes					$	(174)

For the three months ended June 30, 2024	Local Media		Corporate		Consolidated
Revenue	$	750	$	—	$	750
Media programming and production expenses	382		—		382
Media selling, general and administrative expenses	178		—		178
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
Other segment items (a)	2		—		2
Operating income (loss)	$	83	$	(6)	$	77
Interest expense including amortization of debt discount and deferred financing costs	$	76	$	—	$	76
Other income, net	2		—		2
Income before income taxes					$	3
For the six months ended June 30, 2024	Local Media		Corporate		Consolidated
Revenue	$	1,477	$	—	$	1,477
Media programming and production expenses	765		—		765
Media selling, general and administrative expenses	361		—		361
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
Other segment items (a)	4		—		4
Operating income (loss)	$	124	$	(6)	$	118
Interest expense including amortization of debt discount and deferred financing costs	$	152	$	—	$	152
Gain on extinguishment of debt	1		—		1
Other income, net	33		—		33
Income before income taxes					$	—

(a)Other segment items relate primarily to non-media expenses.