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SEGMENT DATA
 6 Months Ended
Jun. 30, 2026
Segment Reporting [Abstract]  
SEGMENT DATA
6.              SEGMENT DATA:
 
We measure segment performance based on operating income (loss). For the quarter ended June 30, 2026, we had two reportable segments, local media and tennis. Our local media segment includes our television stations, original networks and content and provides these through free over-the-air programming to television viewing audiences for stations in markets located throughout the continental United States, as well as distributes the content of these stations to MVPDs for distribution to their customers in exchange for contractual fees. See Revenue Recognition under Note 1. Nature of Operations and Summary of Significant Accounting Policies for further detail. Our tennis segment provides viewers coverage of many of tennis’ top tournaments and original professional sports and tennis lifestyle shows. Other and corporate are not reportable segments but are included for reconciliation purposes. Other primarily consists of non-broadcast digital and internet solutions, technical services, and non-media investments. Corporate costs primarily include our costs to operate as a public company and to operate our corporate headquarters location. All our businesses are located within the United States. The local media segment assets are owned and operated by our wholly-owned subsidiary, Sinclair Broadcast Group, LLC (“SBG”), and the assets of the tennis segment and the assets in other and corporate are owned and operated by Ventures.
Segment financial information is included in the following tables for the periods presented (in millions):
As of June 30, 2026Local MediaTennisOther & CorporateEliminationsConsolidated
Assets$4,144 $281 $1,056 $— $5,481 
For the three months ended June 30, 2026Local MediaTennisOther & CorporateEliminationsConsolidated
Revenue$731 $70 $53 $(14)(b)$840 
Media programming and production expenses381 43 — — 424 
Media selling, general and administrative expenses176 19 35 (13)217 
Depreciation of property and equipment and amortization of definite-lived intangibles and other assets58 6 4 — 68 
Amortization of program costs18 — — — 18 
Corporate general and administrative expenses23 — 22 — 45 
Loss on asset dispositions and other, net5 — — — 5 
Other segment items (a)2 — 12 (1)13 
Operating income (loss)$68 $2 $(20)$— $50 
Interest expense including amortization of debt discount and deferred financing costs$80 $— $— $— $80 
Loss from equity method investments— (1)(2)— (3)
Gain on extinguishment of debt13 — — — 13 
Other income, net— — 55 — 55 
Income before income taxes$35 
For the three months ended June 30, 2025Local MediaTennisOther & CorporateEliminationsConsolidated
Revenue$679 $68 $46 $(9)(b)$784 
Media programming and production expenses380 39 1 — 420 
Media selling, general and administrative expenses162 15 31 (8)200 
Depreciation of property and equipment and amortization of definite-lived intangibles and other assets54 5 — — 59 
Amortization of program costs17 — — — 17 
Corporate general and administrative expenses27 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 $— $— $— $82 
Loss from equity method investments— (1)— — (1)
Gain on extinguishment of debt4 — — — 4 
Other income (expense), net3 — (21)— (18)
Loss before income taxes$(76)
For the six months ended June 30, 2026Local MediaTennisOther & CorporateEliminationsConsolidated
Revenue$1,432 $140 $99 $(24)(b)$1,647 
Media programming and production expenses763 73 — — 836 
Media selling, general and administrative expenses347 38 69 (23)431 
Depreciation of property and equipment and amortization of definite-lived intangibles and other assets118 11 4 — 133 
Amortization of program costs36 — — — 36 
Corporate general and administrative expenses57 1 36 — 94 
Loss on asset dispositions and other, net4 — 8 — 12 
Other segment items (a)4 — 25 (1)28 
Operating income (loss)$103 $17 $(43)$— $77 
Interest expense including amortization of debt discount and deferred financing costs$165 $— $— $— $165 
Loss from equity method investments— (1)(3)— (4)
Gain on extinguishment of debt13 — — — 13 
Other income (expense), net4 — (27)— (23)
Loss before income taxes$(102)
For the six months ended June 30, 2025Local MediaTennisOther & CorporateEliminationsConsolidated
Revenue$1,373 $136 $67 $(16)(b)$1,560 
Media programming and production expenses770 66 2 — 838 
Media selling, general and administrative expenses332 33 42 (15)392 
Depreciation of property and equipment and amortization of definite-lived intangibles and other assets110 10 1 — 121 
Amortization of program costs36 — — — 36 
Corporate general and administrative expenses64 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 $— $— $— $226 
Loss from equity method investments— (2)(5)— (7)
Gain on extinguishment of debt6 — — — 6 
Other income (expense), net6 — (90)— (84)
Loss before income taxes$(276)
(a)Other segment items relate primarily to non-media expenses.
(b)Includes $9 million and $17 million for the three and six months ended June 30, 2026, respectively, and $5 million and $9 million for the three and six months ended June 30, 2025, respectively, of revenue for services provided by other to local media, which is eliminated in consolidation.