Sinclair Broadcast (SBGI) 10-Q 7 Aug 15 2015 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2015	Jul. 31, 2015
Entity Listings
Entity Registrant Name	SINCLAIR BROADCAST GROUP INC
Entity Central Index Key	912,752
Document Type	10-Q
Document Period End Date	Jun. 30, 2015
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q2
Class A Common Stock
Entity Listings
Entity Common Stock, Shares Outstanding		69,566,025
Class B Common Stock
Entity Listings
Entity Common Stock, Shares Outstanding		25,928,357

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
CURRENT ASSETS:
Cash and cash equivalents	$ 64,579	$ 17,682
Accounts receivable, net of allowance for doubtful accounts of $4,500 and $4,246, respectively	384,570	383,503
Current portion of program contract costs	44,538	88,198
Income taxes receivable	0	3,314
Prepaid expenses and other current assets	41,661	21,338
Deferred barter costs	8,451	5,626
Assets held for sale	0	6,504
Total current assets	543,799	526,165
ASSETS HELD FOR SALE	1,843	8,817
PROGRAM CONTRACT COSTS, less current portion	24,013	38,531
PROPERTY AND EQUIPMENT, net	741,854	752,538
Restricted Cash and Investments	1,500	0
GOODWILL	1,951,302	1,964,553
BROADCAST LICENSES	130,915	135,075
DEFINITE-LIVED INTANGIBLE ASSETS, net	1,792,919	1,818,263
OTHER ASSETS	192,836	166,386
Total assets	5,380,981	5,410,328
CURRENT LIABILITIES:
Accounts payable	17,844	12,248
Accrued liabilities	218,395	246,123
Income taxes payable	18,691	0
Current portion of notes payable, capital leases and commercial bank financing	61,935	113,116
Current portion of notes and capital leases payable to affiliates	2,881	2,625
Current portion of program contracts payable	62,311	104,922
Deferred barter revenues	8,135	5,806
Deferred tax liabilities	6,689	6,689
Liabilities held for sale	0	2,477
Total current liabilities	396,881	494,006
LONG-TERM LIABILITIES:
Notes payable, capital leases and commercial bank financing, less current portion	3,808,085	3,754,822
Notes payable and capital leases to affiliates, less current portion	16,775	16,309
Program contracts payable, less current portion	49,586	60,605
Deferred tax liabilities	584,883	602,243
Other long-term liabilities	78,512	77,000
Total liabilities	$ 4,934,722	$ 5,004,985
COMMITMENTS AND CONTINGENCIES
SINCLAIR BROADCAST GROUP SHAREHOLDERS’ EQUITY:
Additional paid-in capital	$ 981,607	$ 979,202
Accumulated deficit	(507,215)	(545,820)
Accumulated other comprehensive loss	(6,287)	(6,455)
Total Sinclair Broadcast Group shareholders’ equity	469,059	427,882
Noncontrolling interests	(22,800)	(22,539)
Total equity	446,259	405,343
Total liabilities and equity	5,380,981	5,410,328
Class A Common Stock
SINCLAIR BROADCAST GROUP SHAREHOLDERS’ EQUITY:
Common Stock	695	696
Class B Common Stock
SINCLAIR BROADCAST GROUP SHAREHOLDERS’ EQUITY:
Common Stock	$ 259	$ 259

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Accounts receivable, allowance for doubtful accounts	$ 4,500	$ 4,246
Total assets of variable interest entities	155,300	163,300
Total liabilities of variable interest entities	$ 28,800	$ 30,000
Class A Common Stock
Common Stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common Stock, shares authorized	500,000,000	500,000,000
Common Stock, shares issued	69,535,162	69,578,899
Common Stock, shares outstanding	69,535,162	69,578,899
Class B Common Stock
Common Stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common Stock, shares authorized	140,000,000	140,000,000
Common Stock, shares issued	25,928,357	25,928,357
Common Stock, shares outstanding	25,928,357	25,928,357

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
REVENUES:
Station broadcast revenues, net of agency commissions	$ 502,338	$ 404,151	$ 966,501	$ 778,032
Revenues realized from station barter arrangements	30,373	33,336	51,332	57,361
Other operating divisions revenues	21,456	17,649	41,109	32,391
Total revenues	554,167	455,136	1,058,942	867,784
OPERATING EXPENSES:
Station production expenses	181,088	134,303	352,103	261,342
Station selling, general and administrative expenses	102,801	82,595	204,688	164,520
Expenses recognized from station barter arrangements	26,381	29,528	43,793	51,005
Amortization of program contract costs and net realizable value adjustments	29,782	23,574	60,173	47,515
Other operating divisions expenses	16,666	14,453	32,489	26,778
Depreciation of property and equipment	25,273	25,252	50,462	49,630
Corporate general and administrative expenses	14,154	15,820	30,170	31,655
Amortization of definite-lived intangible assets	39,445	24,989	79,425	49,717
Research and development expenses	4,237	1,583	6,752	1,583
Total operating expenses	439,827	352,097	860,055	683,745
Operating income	114,340	103,039	198,887	184,039
OTHER INCOME (EXPENSE):
Interest expense and amortization of debt discount and deferred financing costs	(47,664)	(40,121)	(94,312)	(79,659)
Income from equity and cost method investments	2,007	742	5,153	840
Other income, net	1,050	1,015	1,268	1,932
Total other expense, net	(44,607)	(38,364)	(87,891)	(76,887)
Income before income taxes	69,733	64,675	110,996	107,152
INCOME TAX PROVISION	(23,334)	(23,074)	(39,761)	(37,894)
NET INCOME	46,399	41,601	71,235	69,258
Net income attributable to the noncontrolling interests	(612)	(266)	(1,166)	(765)
NET INCOME ATTRIBUTABLE TO SINCLAIR BROADCAST GROUP	$ 45,787	$ 41,335	$ 70,069	$ 68,493
Dividends declared per share	$ 0.165	$ 0.15	$ 0.33	$ 0.3
BASIC AND DILUTED EARNINGS PER COMMON SHARE ATTRIBUTABLE TO SINCLAIR BROADCAST GROUP:
Basic earnings per share (in dollars per share)	0.48	0.43	0.74	0.70
Diluted earnings per share (in dollars per share)	$ 0.48	$ 0.42	$ 0.73	$ 0.69
Weighted average common shares outstanding (in shares)	95,307	97,174	95,219	97,994
Weighted average common and common equivalent shares outstanding (in shares)	96,050	97,864	95,911	98,678

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Statement of Comprehensive Income [Abstract]
Net income	$ 46,399	$ 41,601	$ 71,235	$ 69,258
Amortization of net periodic pension benefit costs, net of taxes	84	167	168	80
Unrealized gain on investments, net of taxes	0	479	0	604
Comprehensive income	46,483	42,247	71,403	69,942
Comprehensive income attributable to the noncontrolling interests	(612)	(266)	(1,166)	(765)
Comprehensive income attributable to Sinclair Broadcast Group	$ 45,871	$ 41,981	$ 70,237	$ 69,177

CONSOLIDATED STATEMENT OF EQUIT

CONSOLIDATED STATEMENT OF EQUITY (DEFICIT) - USD ($) $ in Thousands	Total	Additional Paid-In Capital	Accumulated Deficit	Accumulated Other Comprehensive Loss	Noncontrolling Interests	Class A Common Stock	Class A Common StockCommon Stock	Class B Common Stock	Class B Common StockCommon Stock
BALANCE at Dec. 31, 2013	$ 405,704	$ 1,094,918	$ (696,996)	$ (2,553)	$ 9,334		$ 741		$ 260
BALANCE (in shares) at Dec. 31, 2013							74,145,569		26,028,357
Increase (Decrease) in Stockholders' Equity
Dividends declared and paid on Class A and Class B Common Stock	(29,284)		(29,284)
Repurchases of Class A Common Stock	(82,371)	(82,342)					$ (29)
Repurchases of Class A Common Stock (in shares)							(2,910,106)
Class A Common Stock issued pursuant to employee benefit plans	7,525	7,523					$ 2
Class A Common Stock issued pursuant to employee benefit plans (in shares)							155,182
Tax benefit on share based awards	1,361	1,361
Distributions to noncontrolling interests	(2,704)				(2,704)
Other comprehensive income	684			684
Net income	69,258		68,493		765
BALANCE at Jun. 30, 2014	370,173	1,021,460	(657,787)	(1,869)	7,395		$ 714		$ 260
BALANCE (in shares) at Jun. 30, 2014							71,390,645		26,028,357
BALANCE at Dec. 31, 2014	405,343	979,202	(545,820)	(6,455)	(22,539)		$ 696		$ 259
BALANCE (in shares) at Dec. 31, 2014						69,578,899	69,578,899	25,928,357	25,928,357
Increase (Decrease) in Stockholders' Equity
Dividends declared and paid on Class A and Class B Common Stock	(31,464)		(31,464)
Repurchases of Class A Common Stock	$ (7,803)	(7,800)					$ (3)
Repurchases of Class A Common Stock (in shares)	(300,000)						(304,787)
Class A Common Stock issued pursuant to employee benefit plans	$ 9,512	9,510					$ 2
Class A Common Stock issued pursuant to employee benefit plans (in shares)							261,050
Tax benefit on share based awards	695	695
Distributions to noncontrolling interests	(2,464)				(2,464)
Other comprehensive income	168			168
Issuance of subsidiary stock awards	1,037				1,037
Net income	71,235		70,069		1,166
BALANCE at Jun. 30, 2015	$ 446,259	$ 981,607	$ (507,215)	$ (6,287)	$ (22,800)		$ 695		$ 259
BALANCE (in shares) at Jun. 30, 2015						69,535,162	69,535,162	25,928,357	25,928,357

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
CASH FLOWS FROM (USED IN) OPERATING ACTIVITIES:
Net income	$ 71,235	$ 69,258
Adjustments to reconcile net income to net cash flows from operating activities:
Depreciation of property and equipment	50,462	49,630
Amortization of definite-lived intangible and other assets	79,425	49,717
Amortization of program contract costs and net realizable value adjustments	60,173	47,515
Stock-based compensation expense	11,577	8,430
Deferred tax benefit	(17,368)	(10,569)
Change in assets and liabilities, net of acquisitions:
Decrease in accounts receivable	3,433	7,162
Increase in prepaid expenses and other current assets	(18,755)	(11,643)
Decrease in accounts payable and accrued liabilities	(27,139)	(331)
Increase in income taxes payable	17,705	16,995
Payments on program contracts payable	(55,676)	(47,381)
Real estate held for development and sale	(4,389)	(6,052)
Other, net	7,333	7,253
Net cash flows from operating activities	178,016	179,984
CASH FLOWS FROM (USED IN) INVESTING ACTIVITIES:
Acquisition of property and equipment	(47,062)	(26,587)
Payments for acquisition of assets in other operating divisions	0	(8,273)
Purchase of alarm monitoring contracts	(16,673)	(7,835)
Distributions from equity and cost method investees	8,168	1,522
Investments in equity and cost method investees	(37,809)	(6,167)
Proceeds from termination of life insurance policies	0	17,042
Other, net	3,483	(1,008)
Net cash flows used in investing activities	(89,893)	(31,306)
CASH FLOWS FROM (USED IN) FINANCING ACTIVITIES:
Proceeds from notes payable, commercial bank financing and capital leases	364,853	102,724
Repayments of notes payable, commercial bank financing and capital leases	(360,480)	(21,114)
Dividends paid on Class A and Class B Common Stock	(31,464)	(29,284)
Repurchase of outstanding Class A Common Stock	(7,803)	(82,371)
Noncontrolling interests distributions	(2,464)	(3,953)
Other, net	(3,868)	762
Net cash flows used in financing activities	(41,226)	(33,236)
NET INCREASE IN CASH AND CASH EQUIVALENTS	46,897	115,442
CASH AND CASH EQUIVALENTS, beginning of period	17,682	280,104
CASH AND CASH EQUIVALENTS, end of period	$ 64,579	$ 395,546

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
	Jun. 30, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Principles of Consolidation The consolidated financial statements include our accounts and those of our wholly-owned and majority-owned subsidiaries and variable interest entities (VIEs) for which we are the primary beneficiary. Noncontrolling interests represents a minority owner’s proportionate share of the equity in certain of our consolidated entities. All intercompany transactions and account balances have been eliminated in consolidation. Interim Financial Statements The consolidated financial statements for the three and six months ended June 30, 2015 and 2014 are unaudited. In the opinion of management, such financial statements have been presented on the same basis as the audited consolidated financial statements and include all adjustments, consisting only of normal recurring adjustments necessary for a fair statement of the consolidated balance sheets, consolidated statements of operations, consolidated statements of comprehensive income, consolidated statement of equity (deficit) and consolidated statements of cash flows for these periods as adjusted for the adoption of recent accounting pronouncements discussed below. As permitted under the applicable rules and regulations of the Securities and Exchange Commission (SEC), the consolidated financial statements do not include all disclosures normally included with audited consolidated financial statements and, accordingly, should be read together with the audited consolidated financial statements and notes thereto in our Annual Report on Form 10-K for the year ended December 31, 2014 filed with the SEC. The consolidated statements of operations presented in the accompanying consolidated financial statements are not necessarily representative of operations for an entire year. Variable Interest Entities In determining whether we are the primary beneficiary of a VIE for financial reporting purposes, we consider whether we have the power to direct the activities of the VIE that most significantly impact the economic performance of the VIE and whether we have the obligation to absorb losses or the right to receive returns that would be significant to the VIE. We consolidate VIEs when we are the primary beneficiary. The assets of each of our consolidated VIEs can only be used to settle the obligations of the VIE. All the liabilities are non-recourse to us except for certain debt of VIEs which we guarantee. Third-party station licensees. Certain of our stations provide services to other station owners within the same respective market, such as LMAs, where we provide programming, sales, operational and administrative services, and JSAs and SSAs, where we provide non-programming, sales, operational and administrative services. In certain cases, we have also entered into purchase agreements or options to purchase, the license related assets of the licensee. We typically own the majority of the non-license assets of the stations and in some cases where the licensee acquired the license assets concurrent with our acquisition of the non-license assets of the station, we have provided guarantees to the bank for the licensee’s acquisition financing. The terms of the agreements vary, but generally have initial terms of over five years with several optional renewal terms. As of June 30, 2015 and December 31, 2014 , we have concluded that 37 of these licensees are VIEs. Based on the terms of the agreements and the significance of our investment in the stations, we are the primary beneficiary of the variable interests because, subject to the ultimate control of the licensees, we have the power to direct the activities which significantly impact the economic performance of the VIE through the services we provide and because we absorb losses and returns that would be considered significant to the VIEs. Several of these VIEs are owned by a related party, Cunningham Broadcasting Corporation (Cunningham). See Note 8. Related Person Transactions for more information about the arrangements with Cunningham. The net revenues of the stations which we consolidate were $71.8 million and $136.6 million for the three and six months ended June 30, 2015 , and $71.8 million and $138.2 million for the three and six months ended June 30, 2014 , respectively. The fees paid between us and the licensees pursuant to these arrangements are eliminated in consolidation. See Changes in the Rules of Television Ownership and Joint Sale Agreements within Note 6. Commitment and Contingencies for discussion of recent changes in FCC rules related to JSAs. Up until third quarter of 2014, we had consolidated Cunningham (parent entity), in addition to their stations that we perform services for, as we had previously determined that it was a VIE because it had insufficient equity at risk. As of September 30, 2014, we concluded that Cunningham was no longer a VIE given its significant equity at risk in assets that we have no involvement with, and deconsolidated this entity, along with WTAT and WYZZ, stations that Cunningham acquired from us in July 2014 and November 2013, respectively, with which we have no continuing involvement. As a result of the deconsolidation, we recorded the difference between the proceeds received from Cunningham for the sale of WTAT and WYZZ to additional paid in capital in the consolidated balance sheet, as well as reflected the noncontrolling interest deficit of the remaining Cunningham VIEs which represents their significant cumulative distributions made to Cunningham (parent entity) that were previously eliminated in consolidation. As of the dates indicated, the carrying amounts and classification of the assets and liabilities of the VIEs mentioned above which have been included in our consolidated balance sheets for the periods presented (in thousands): June 30, December 31, ASSETS CURRENT ASSETS: Cash and cash equivalents $ 490 $ 491 Accounts receivable 19,307 19,521 Current portion of program contract costs 8,570 9,544 Prepaid expenses and other current assets 435 297 Total current assets 28,802 29,853 PROGRAM CONTRACT COSTS, less current portion 4,866 6,922 PROPERTY AND EQUIPMENT, net 9,012 9,716 GOODWILL 787 787 BROADCAST LICENSES 16,960 16,935 DEFINITE-LIVED INTANGIBLE ASSETS, net 87,974 96,732 OTHER ASSETS 6,924 2,376 Total assets $ 155,325 $ 163,321 LIABILITIES CURRENT LIABILITIES: Accounts payable $ 39 $ 68 Accrued liabilities 1,431 1,297 Current portion of notes payable, capital leases and commercial bank financing 3,673 3,659 Current portion of program contracts payable 8,172 9,714 Total current liabilities 13,315 14,738 LONG-TERM LIABILITIES: Notes payable, capital leases and commercial bank financing, less current portion 26,321 28,640 Program contracts payable, less current portion 10,520 10,161 Long term liabilities 8,670 8,739 Total liabilities $ 58,826 $ 62,278 The amounts above represent the consolidated assets and liabilities of the VIEs described above, for which we are the primary beneficiary, and have been aggregated as they all relate to our broadcast business. Excluded from the amounts above are payments made to Cunningham under the LMA which are treated as a prepayment of the purchase price of the stations and capital leases between us and Cunningham which are eliminated in consolidation. The cumulative payments made under these LMAs that were treated as a prepayment of purchase price as of June 30, 2015 and December 31, 2014 , which are excluded from liabilities above, were $36.0 million and $34.4 million , respectively. The total capital lease liabilities, net of capital lease assets, excluded from the above were $4.3 million for June 30, 2015 and December 31, 2014 . Also excluded from the amounts above are liabilities associated with the certain outsourcing agreements and purchase options with certain VIEs totaling $78.9 million and $78.1 million as of June 30, 2015 and December 31, 2014 , respectively, as these amounts are eliminated in consolidation. The risk and reward characteristics of the VIEs are similar. Other investments. We have investments in other real estate ventures and investment companies which are considered VIEs. However, we do not participate in the management of these entities including the day-to-day operating decisions or other decisions which would allow us to control the entity, and therefore, we are not considered the primary beneficiary of these VIEs. We account for these entities using the equity or cost method of accounting. The carrying amounts of our investments in these VIEs for which we are not the primary beneficiary as of June 30, 2015 and December 31, 2014 was $19.3 million and $22.7 million , respectively, which are included in other assets in the consolidated balance sheets. Our maximum exposure is equal to the carrying value of our investments. The income and loss related to these investments are recorded in income from equity and cost method investments in the consolidated statement of operations. We recorded income of $2.6 million and $5.5 million for the three and six months ended June 30, 2015 , and income of $0.7 million and $0.9 million for the three and six months ended June 30, 2014 , respectively, related to these investments. Recent Accounting Pronouncements In May 2014, the FASB issued guidance on revenue recognition for revenue from contracts with customers. This guidance requires an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers and will replace most existing revenue recognition guidance when it becomes effective. The new standard effective for annual reporting periods beginning after December 15, 2016. In July 2015, the FASB decided to defer the effective date by one year to the annual reporting period beginning after December 15, 2017, however, early adoption as of the original effective date will be permitted. The standard permits the use of either the retrospective or cumulative effect transition method. We are currently evaluating the impact of this guidance on our financial statements. In August 2014, the FASB issued guidance on disclosure of uncertainties about an entity’s ability to continue as a going concern. The new standard is effective for the annual period ending after December 15, 2016, and for annual periods and interim periods thereafter. We are currently evaluating the impact of this new guidance on our financial statements. In February 2015, the FASB issued new guidance that amends the current consolidation guidance on the determination of whether an entity is a variable interest entity. This new standard is effective for the annual period beginning after December 15, 2016. Early adoption is allowed, including in any interim period. We are currently evaluating the impact of this new guidance on our financial statements. In April 2015, the FASB issued guidance related to the presentation of debt issuance costs in the balance sheet. The guidance requires costs paid to third parties that are directly attributable to issuing a debt instrument to be presented as a direct deduction from the carrying value of the debt as opposed to an asset. The new standard is effective for the annual reporting periods beginning after December 15, 2015 with early adoption permitted, and is required to be applied retrospectively. We have applied the change in accounting as of June 30, 2015 with retrospective application to prior periods. As such, within our consolidated balance sheet as of December 31, 2014, we have decreased the amounts previously reported as other assets and notes payable, capital leases and commercial bank financing, less current portion by $41.8 million . The change in accounting principle does not have an impact on our statements of operations or cash flows. Use of Estimates The preparation of financial statements in accordance with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses in the consolidated financial statements and in the disclosures of contingent assets and liabilities. Actual results could differ from those estimates. Revenue Recognition Total revenues include: (i) cash and barter advertising revenues, net of agency commissions; (ii) retransmission consent fees; (iii) network compensation; (iv) other broadcast revenues and (v) revenues from our other operating divisions. Advertising revenues, net of agency commissions, are recognized in the period during which time spots are aired. Our retransmission consent agreements contain both advertising and retransmission consent elements. We have determined that our retransmission consent agreements are revenue arrangements with multiple deliverables. Advertising and retransmission consent deliverables sold under our agreements are separated into different units of accounting at fair value. Revenue applicable to the advertising element of the arrangement is recognized similar to the advertising revenue policy noted above. Revenue applicable to the retransmission consent element of the arrangement is recognized over the life of the agreement. Network compensation revenue is recognized over the term of the contract. All other revenues are recognized as services are provided. Share Repurchase Program On October 28, 1999, we announced a $150.0 million share repurchase program, which was renewed on February 6, 2008. On March 20, 2014, the Board of Directors authorized an additional $150.0 million share repurchase authorization. There is no expiration date and currently, management has no plans to terminate this program. For the six months ended June 30, 2015 , we have purchased approximately 0.3 million shares for $7.8 million . As of June 30, 2015 , the total remaining authorization was $126.6 million . Income Taxes Our income tax provision for all periods consists of federal and state income taxes. The tax provision for the six months ended June 30, 2015 and 2014 is based on the estimated effective tax rate applicable for the full year after taking into account discrete tax items and the effects of the noncontrolling interests. We provide a valuation allowance for deferred tax assets if we determine that it is more likely than not that some or all of the deferred tax assets will not be realized. In evaluating our ability to realize net deferred tax assets, we consider all available evidence, both positive and negative, including our past operating results, tax planning strategies and forecasts of future taxable income. In considering these sources of taxable income, we must make certain judgments that are based on the plans and estimates used to manage our underlying businesses on a long-term basis. A valuation allowance has been provided for deferred tax assets related to a substantial portion of our available state net operating loss (NOL) carryforwards, based on past operating results, expected timing of the reversals of existing temporary book/tax basis differences, alternative tax strategies and projected future taxable income. Our effective income tax rate for the three months ended June 30, 2015 was less than the statutory rate primarily due to a decrease in our income tax provision resulting from certain state law changes. Our effective income tax rate for the six months ended June 30, 2015 exceeded the statutory rate primarily due to an increase in income tax provision resulting from a settlement of a state income tax position. Our effective income tax rate for the three months and six months ended June 30 2014 approximated the statutory rate. We believe it is reasonably possible that our liability for unrecognized tax benefits related to continuing operations could be reduced by up to $5.7 million , in the next twelve months, as a result of expected statute of limitations expirations, the application of limits under available state administrative practice exceptions, and the resolution of examination issues and settlements with federal and certain state tax authorities. Reclassificiations Certain reclassifications have been made to prior years' consolidated financial statements to conform to the current year's presentation.

ACQUISITIONS

ACQUISITIONS	6 Months Ended
	Jun. 30, 2015
Business Combinations [Abstract]
ACQUISITIONS	ACQUISITIONS: During 2014, we acquired a total of 21 stations in 15 markets for a purchase price of $1,434.5 million plus working capital of $47.2 million . All of these acquisitions provide expansion into additional markets and increases value based on the synergies we are achieving. 2014 Acquisitions Allbritton. Effective August 1, 2014, we completed the acquisition of all of the outstanding common stock of Perpetual Corporation and equity interest of Charleston Television, LLC (together the “Allbritton Companies”) for $985.0 million plus working capital of $50.1 million . The Allbritton Companies owned and operated nine television stations in the following seven markets, all of which were affiliated with ABC: Washington, DC; Birmingham, AL; Harrisburg, PA; Little Rock / Pine Bluff, AR; Tulsa, OK; Roanoke / Lynchburg, VA; and Charleston, SC. Also included in the purchase was NewsChannel 8, a 24 -hour cable/satellite news network covering the Washington, D.C. metropolitan area. We financed the total purchase price with proceeds from the issuance of 5.625% senior unsecured notes, a draw on our amended bank credit agreement, and cash on hand. In connection with the acquisition, we sold the acquired assets related to the Harrisburg, PA station effective September 1, 2014. See Note 3. Dispositions of Assets for further discussion. MEG Stations. Effective December 19, 2014, we completed the acquisition of four television stations in three markets from Media General, Inc. (MEG Stations) for a purchase price of $207.5 million less working capital of $1.6 million . The acquired stations are located in the following markets: Providence, RI / New Bedford, MA; Green Bay / Appleton, WI; and Savannah, GA. Simultaneously, we sold to Media General, our television stations in Tampa, FL and Colorado Springs, CO. See Note 3. Dispositions of Assets for further discussion. We financed the purchase price, net of the proceeds received from the sale of those stations, with borrowings under our revolving credit facility. KSNV. Effective November 1, 2014, we completed the acquisition of certain of assets of KSNV (NBC) in Las Vegas, NV from Intermountain West Communications Company (Intermountain West) for $118.5 million less working capital of $0.2 million . In conjunction with the purchase, we assumed the rights under the affiliation agreement with NBC and swapped our KVMY call letters for the KSNV call letters. Intermountain West continues to own and operate the station under the KVMY call letters and we do not provide any programming or sales services to this station. We financed the total purchase price with cash on hand and borrowings under our revolving credit facility. Other 2014 Acquisitions. During the year ended December 31, 2014 , we acquired certain assets related to eight other television stations in the following four markets: Wilkes Barre / Scranton, PA; Tallahassee, FL; Gainesville, FL; and Macon, GA. The purchase price for these stations was $123.5 million less working capital of $1.1 million which was financed with cash on hand and borrowings under our revolving credit facility. The following tables summarize the allocated fair value of acquired assets and assumed liabilities, including the net assets of consolidated VIEs (in thousands): MEG Stations KSNV Allbritton Other Total 2014 acquisitions Accounts receivable $ — $ — $ 38,542 $ — $ 38,542 Prepaid expenses and other current assets 476 67 19,890 79 20,512 Program contract costs 1,954 482 1,204 2,561 6,201 Property and equipment 23,462 8,300 46,600 8,400 86,762 Broadcast licenses 100 — 13,700 125 13,925 Definite-lived intangible assets 125,200 62,700 564,100 71,025 823,025 Other assets — — 20,352 1,500 21,852 Assets held for sale — — 83,200 — 83,200 Accounts payable and accrued liabilities (2,085 ) (277 ) (8,351 ) (1,143 ) (11,856 ) Program contracts payable (1,914 ) (481 ) (1,140 ) (2,554 ) (6,089 ) Deferred tax liability — — (261,291 ) — (261,291 ) Other long term liabilities — (1,200 ) (17,263 ) — (18,463 ) Fair value of identifiable net assets acquired 147,193 69,591 499,543 79,993 796,320 Goodwill 58,698 48,699 535,694 42,443 685,534 Total $ 205,891 $ 118,290 $ 1,035,237 $ 122,436 $ 1,481,854 The allocations presented above are based upon management’s estimate of the fair values using valuation techniques including income, cost and market approaches. In estimating the fair value of the acquired assets and assumed liabilities, the fair value estimates are based on, but not limited to, expected future revenue and cash flows, expected future growth rates, and estimated discount rates. The purchase prices have been allocated to the acquired assets and assumed liabilities based on estimated fair values. The allocations related to the acquisitions are preliminary pending a final determination of the fair values of the assets and liabilities. During the six months ended June 30, 2015 , we made certain immaterial measurement period adjustments to the initial purchase accounting for the acquisitions in 2014, resulting in reclassifications between certain noncurrent assets and noncurrent liabilities, including an decrease to property and equipment of approximately $12.5 million , an decrease to broadcast licenses of $4.1 million , an increase to definite-lived intangible assets of $33.0 million , and a decrease to goodwill of $16.3 million , as well as a corresponding decrease to depreciation of $0.6 million and an increase to amortization of $0.3 million , during the six months ended June 30, 2015 , respectively. The comparable historical periods were not adjusted for these measurement period adjustments as they were not considered to be material. These intangible assets will be amortized over the estimated remaining useful lives of 15 years for network affiliations and 10 - 15 years for the customer relationships. Acquired property and equipment will be depreciated on a straight-line basis over the respective estimated remaining useful lives. Goodwill is calculated as the excess of the consideration transferred over the fair value of the identifiable net assets acquired and represents the future economic benefits expected to arise from other intangible assets acquired that do not qualify for separate recognition, including assembled workforce and noncontractual relationships, as well as expected future synergies. Other intangible assets will be amortized over the respective weighted average useful lives ranging from 14 to 16 years. The following tables summarize the amounts allocated to definite-lived intangible assets representing the estimated fair values and estimated goodwill deductible for tax purposes (in thousands): MEG Stations KSNV Allbritton Other Total 2014 acquisitions Network affiliations $ 54,300 $ 44,775 $ 356,900 $ 42,625 $ 498,600 Customer relationships 47,400 17,925 207,200 27,400 299,925 Other intangible assets 23,500 — — 1,000 24,500 Fair value of identifiable definite-lived intangible assets acquired $ 125,200 $ 62,700 $ 564,100 $ 71,025 $ 823,025 Estimated goodwill deductible for tax purposes $ 58,698 $ 48,699 $ — $ 42,443 $ 149,840 In connection with the acquisitions, for the six months ended June 30, 2014 , we incurred a total of $2.0 million , of costs primarily related to legal and other professional services, which we expensed as incurred and classified as corporate general and administrative expenses in the consolidated statements of operations. Pro Forma Information The following table sets forth unaudited pro forma results of operations for the three and six months ended June 30, 2014 , assuming that the above acquisitions, along with transactions necessary to finance the acquisitions, occurred at the beginning of the year preceding the year of acquisition. The pro forma results exclude acquisitions presented under Other above, as they were deemed not material both individually and in the aggregate (in thousands, except per share data): Three Months Ended June 30, Six Months Ended 2014 2014 Total revenues $ 528,490 $ 1,000,920 Net Income $ 40,361 $ 67,817 Net Income attributable to Sinclair Broadcast Group $ 40,095 $ 67,052 Basic earnings per share attributable to Sinclair Broadcast Group $ 0.41 $ 0.68 Diluted earnings per share attributable to Sinclair Broadcast Group $ 0.41 $ 0.68 This pro forma financial information is based on historical results of operations, adjusted for the allocation of the purchase price and other acquisition accounting adjustments, and is not indicative of what our results would have been had we operated the businesses since the beginning of the annual period presented because the pro forma results do not reflect expected synergies. The pro forma adjustments reflect depreciation expense, amortization of intangibles and amortization of program contract costs related to the fair value adjustments of the assets acquired, additional interest expense related to the financing of the transactions, and exclusion of nonrecurring financing and transaction related costs. Depreciation and amortization expense are higher than amounts recorded in the historical financial statements of the acquirees due to the fair value adjustments recorded for long-lived tangibles and intangible assets in purchase accounting. The pro forma revenues exclude the revenues of WHTM-TV (ABC) in Harrisburg/Lancaster/York, PA, WTTA-TV (MNT) in Tampa, FL, and KXRM/KXTU (FOX) in Colorado Springs, CO which were sold in connection with the above acquisitions.

DISPOSITION OF ASSETS

DISPOSITION OF ASSETS	6 Months Ended
	Jun. 30, 2015
Discontinued Operations and Disposal Groups [Abstract]
DISPOSITION OF ASSETS	DISPOSITION OF ASSETS: Dispositions Related to Station Acquisitions As discussed in Note 2. Acquisitions , in December 2014, we completed the acquisition of certain broadcast assets from Media General. Simultaneously, we sold to Media General the broadcast assets of WTTA (MNT) in Tampa, FL and KXRM/KXTU (FOX) in Colorado Springs, CO for $93.1 million less working capital of $0.6 million . Concurrent with the acquisition of the Allbritton companies discussed in Note 2. Acquisitions , due to FCC multiple ownership rules, we sold WHTM (ABC) in Harrisburg/Lancaster/York, PA to Media General in September 2014 for $83.4 million , less working capital of $0.2 million and the non-license assets of WTAT (FOX) in Charleston, SC to Cunningham for $14.0 million , effective August 1, 2014. WHTM was acquired from the Allbritton companies and assets of WHTM were classified as assets held for sale in the Allbritton purchase price allocation. We did not recognize a gain or loss on this transaction. Prior to the sale of WTAT, we operated the station under an LMA and purchase agreement with Cunningham. This sale was accounted for as a transaction between parties under common control. See Note 8. Related Person Transaction for further discussion. Assets Held for Sale In accordance with Financial Accounting Standards Board’s (FASB) guidance on reporting assets held for sale, we reported our assets and liabilities related to Triangle Sign & Service, LLC (Triangle) as held for sale in the accompanying consolidated balance sheet as of December 31, 2014 . It is no longer our intent to divest of Triangle and therefore the assets and liabilities are not classified as held for sale as of June 30, 2015 . The results of operations related to Triangle are included within the results of continuing operations as the criteria for classification as discontinued operations was not met. As of December 31, 2014 , the major classes of assets and liabilities of the group reported as held for sale on the accompanying consolidated balance sheet are shown below (in thousands): December 31, 2014 Assets: Accounts receivable $ 5,101 Prepaid expenses and other current assets 1,403 Total current assets held for sale 6,504 Property and equipment (a) 1,036 Goodwill 2,975 Definite-lived intangible assets 2,962 Total assets held for sale $ 13,477 Liabilities: Accounts payable $ 1,096 Accrued liabilities 1,360 Current portion of notes payable, capital leases and commercial bank financing 21 Total liabilities held for sale $ 2,477 (a) Excluded from the above is $1.8 million in held for sale assets as of June 30, 2015 and December 31, 2014 related to certain real estate assets within our broadcast segment.

GOODWILL, BROADCAST LICENCES AN

GOODWILL, BROADCAST LICENCES AND OTHER INTANGIBLE ASSETS	6 Months Ended
	Jun. 30, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL, BROADCAST LICENSES AND OTHER INTANGIBLE ASSETS	GOODWILL, BROADCAST LICENSES AND OTHER INTANGIBLE ASSETS: Goodwill, which arises from the purchase price exceeding the assigned value of the net assets of an acquired business, represents the value attributable to unidentifiable intangible elements being acquired. Goodwill totaled $1,951.3 million and $1,964.6 million at June 30, 2015 and December 31, 2014 , respectively. The change in the carrying amount of goodwill related to continuing operations was as follows (in thousands): Broadcast Other Operating Divisions Consolidated Balance at December 31, 2014 Goodwill $ 2,377,613 $ 513 $ 2,378,126 Accumulated impairment losses (413,573 ) — (413,573 ) 1,964,040 513 1,964,553 Measurement period adjustments related to 2014 acquisitions (a) (16,226 ) — (16,226 ) Change in assets held for sale (b) — 2,975 2,975 Balance at June 30, 2015 Goodwill 2,361,387 3,488 2,364,875 Accumulated impairment losses (413,573 ) — (413,573 ) $ 1,947,814 $ 3,488 $ 1,951,302 (a) Amounts relate to immaterial measurement period adjustments related to 2014 acquisitions as discussed in Note 2. Acquisitions . (b) During the six months ended June 30, 2015 , we concluded that the assets of Triangle were no longer classified as assets held for sale. See Note 3. Disposition of Assets for further discussion. As of June 30, 2015 and December 31, 2014 , the carrying amount of our broadcast licenses was as follows (in thousands): June 30, 2015 Balance at December 31, 2014 $ 135,075 Sale of broadcast assets (75 ) Measurement period adjustments related to 2014 acquisitions (a) (4,085 ) Balance at June 30, 2015 $ 130,915 (a) Amounts relate to immaterial measurement period adjustments related to 2014 acquisitions as discussed in Note 2. Acquisitions . The following table shows the gross carrying amount and accumulated amortization of definite-lived intangibles (in thousands): As of June 30, 2015 Gross Carrying Value Accumulated Amortization Net Amortized intangible assets: Network affiliation (a) $ 1,388,691 $ (303,590 ) $ 1,085,101 Customer relationships (a) 766,979 (199,687 ) 567,292 Other (b) 215,359 (74,833 ) 140,526 Total $ 2,371,029 $ (578,110 ) $ 1,792,919 As of December 31, 2014 Gross Carrying Value Accumulated Amortization Net Amortized intangible assets: Network affiliation (a) $ 1,396,792 $ (257,526 ) $ 1,139,266 Customer relationships (a) 749,292 (177,453 ) 571,839 Other (b) 174,442 (67,284 ) 107,158 Total $ 2,320,526 $ (502,263 ) $ 1,818,263 (a) Changes between the gross carrying value from December 31, 2014 to June 30, 2015, relate to immaterial measurement period adjustments related to 2014 acquisitions as discussed in Note 2. Acquisitions . (b) The increase in other intangible assets includes $16.7 million in additions from other operating divisions in 2015, and measurement period adjustment as discussed in Note 2. Acquisitions . We did not have any indicators of impairment for goodwill, broadcast licenses, definite-lived intangibles, or other long-lived assets in any interim period during the six months ended June 30, 2015 .

NOTES PAYABLE AND COMMERCIAL BA

NOTES PAYABLE AND COMMERCIAL BANK FINANCINGS	6 Months Ended
	Jun. 30, 2015
Debt Disclosure [Abstract]
NOTES PAYABLE AND COMMERCIAL BANK FINANCING	NOTES PAYABLE AND COMMERCIAL BANK FINANCING: As of June 30, 2015 we had $329.7 million and $1,370.3 million outstanding under our term loan A and term loan B, net of $2.3 million and $16.4 million deferred financing costs and debt discounts, respectively. As discussed under Recent Accounting Pronouncements in Note 1. Summary of Significant Accounting Policies , we early adopted the FASB issued guidance related to the presentation of debt issuance costs in the balance sheet. The guidance requires costs paid to third parties that are directly attributable to issuing a debt instrument to be presented as a direct deduction from the carrying value of the debt as opposed to an asset. Effective April 30, 2015, we entered into an amendment and restatement of our bank credit agreement. Pursuant to the Amendment, we raised an additional $350.0 million of incremental term loan B commitments, which mature in July 2021 and bear interest at LIBOR plus 2.75% with a 0.75% LIBOR floor. The incremental term loan B borrowings were issued under substantially the same terms as the existing term loan B agreement. The proceeds, net of issuance costs, from the amendment of term loan B were used to pay down the outstanding balance under our revolving credit facility, and for general corporate purposes. As of June 30, 2015, we had $482.9 million borrowing capacity under our revolving credit facility. We incurred $3.6 million of financing costs in connection with the amendment which are presented net of the carrying value of the debt in the consolidated balance sheet.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	6 Months Ended
	Jun. 30, 2015
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES: Litigation We are a party to lawsuits and claims from time to time in the ordinary course of business. Actions currently pending are in various stages and no material judgments or decisions have been rendered by hearing boards or courts in connection with such actions. After reviewing developments to date with legal counsel, our management is of the opinion that the outcome of our pending and threatened matters will not have a material adverse effect on our consolidated balance sheets, consolidated statements of operations or consolidated statements of cash flows. Various parties have filed petitions to deny our applications or our LMA partners’ applications for the following stations’ license renewals: WXLV-TV, Winston-Salem, North Carolina; WMYV-TV, Greensboro, North Carolina; WLFL-TV, Raleigh / Durham, North Carolina; WRDC-TV, Raleigh / Durham, North Carolina; WLOS-TV, Asheville, North Carolina; WCIV-TV, Charleston, South Carolina (formerly WMMP-TV); WMYA-TV, Anderson, South Carolina; WICS-TV Springfield, Illinois; WBFF-TV, Baltimore, Maryland; WTTE-TV, Columbus, Ohio; WRGT-TV, Dayton, Ohio; WVAH-TV, Charleston / Huntington, West Virginia; WCGV-TV, Milwaukee, Wisconsin; and WTTO-TV in Birmingham, AL. The FCC is in the process of considering the renewal applications and we believe the petitions have no merit. Changes in the Rules of Television Ownership and Joint Sale Agreements On March 12, 2014, the FCC issued a public notice on the processing of broadcast television applications proposing sharing arrangements and contingent interests. The public notice indicated that the FCC will closely scrutinize any broadcast assignment or transfer application that proposes that two or more stations in the same market will enter into an agreement to share facilities, employees and/or services or to jointly acquire programming or sell advertising including through a JSA, LMA or similar agreement and enter into an option, right of first refusal, put /call arrangement or other similar contingent interest, or a loan guarantee. We cannot now predict what actions the FCC may require in connection with the processing of applications for FCC consent to future transactions. In addition, on April 15, 2014, the FCC issued an order amending its multiple ownership rules to provide that, where two television stations are located in the same market, and a party with an attributable interest in one station sells more than 15% of the ad time per week of the other station, the party selling such ad time shall be treated as if it had an attributable ownership interest in the second station. The imputed ownership interest would be evaluated to determine whether it complies with the FCC’s ownership rules that limit the number of stations in which parties may hold attributable interests. The amended rule also requires that every JSA contain certain certifications that the licensee maintains ultimate control of the station subject to such contract, that such JSAs be filed with the Commission and made available for public review, and that JSAs that existed on the effective date of the new rule have two years to be terminated, amended or otherwise come into compliance with the new rules. Under the Satellite Television Extension and Localism Act Reauthorization (STELAR), which became law on December 4, 2014, Congress extended the period of time for parties to preexisting JSAs to come into compliance with the new rules for an additional six months, until December 19, 2016. A bill has been introduced into Congress proposing to permanently grandfather preexisting JSAs, but we cannot predict its likelihood of enactment. The new rule is the subject of an appeal to the United States Court of Appeals for the District of Columbia Circuit. We cannot predict the outcome of that appeal. Among other things, the new JSA rule could limit our ability to create duopolies or other two-station operations in certain markets. We are currently evaluating whether to seek one or more waivers of the new rules, or to modify or terminate our current JSAs. We cannot predict whether we will be able to terminate or restructure such arrangements on terms that are as advantageous to us as the current arrangements. The revenues of these JSA arrangements we earned were $11.8 million and $11.5 million three months ended June 30, 2015 and 2014 and $22.7 million and $22.1 million for the six months ended June 30, 2015 and 2014 , respectively.

EARNINGS PER SHARE

EARNINGS PER SHARE	6 Months Ended
	Jun. 30, 2015
Earnings Per Share [Abstract]
EARNINGS PER SHARE	EARNINGS PER SHARE The following table reconciles income (numerator) and shares (denominator) used in our computations of basic and diluted earnings per share for the periods presented (in thousands): Three Months Ended Six Months Ended 2015 2014 2015 2014 Income (Numerator) Net Income $ 46,399 $ 41,601 $ 71,235 $ 69,258 Net (income) loss attributable to noncontrolling interests (612 ) (266 ) (1,166 ) (765 ) Numerator for diluted earnings per common share available to common shareholders $ 45,787 $ 41,335 $ 70,069 $ 68,493 Shares (Denominator) Weighted-average common shares outstanding 95,307 97,174 95,219 97,994 Dilutive effect of stock-settled appreciation rights, restricted stock awards and outstanding stock options 743 690 692 684 Weighted-average common and common equivalent shares outstanding 96,050 97,864 95,911 98,678 There were no anti-dilutive shares for three and six months ended June 30, 2015 and 2014 .

RELATED PERSON TRANSACTIONS

RELATED PERSON TRANSACTIONS	6 Months Ended
	Jun. 30, 2015
Related Party Transactions [Abstract]
RELATED PERSON TRANSACTIONS	. RELATED PERSON TRANSACTIONS Transactions with our controlling shareholders David, Frederick, J. Duncan and Robert Smith (collectively, the controlling shareholders) are brothers and hold substantially all of the Class B Common Stock and some of our Class A Common Stock. We engaged in the following transactions with them and/or entities in which they have substantial interests. Leases. Certain assets used by us and our operating subsidiaries are leased from Cunningham Communications Inc., Keyser Investment Group, Gerstell Development Limited Partnership and Beaver Dam, LLC (entities owned by the controlling shareholders). Lease payments made to these entities were $1.2 million and $1.3 million for the three months ended June 30, 2015 and 2014 , and $2.6 million and $2.8 million for the six months ended June 30, 2015 and 2014 , respectively. Charter Aircraft. We lease aircraft owned by certain controlling shareholders. We incurred expenses of $0.3 million for both the three months ended June 30, 2015 and 2014 , and $0.6 million for both the six months ended June 30, 2015 and 2014 , respectively. Cunningham Broadcasting Corporation As of June 30, 2015 , Cunningham was the owner-operator and FCC licensee of: WNUV-TV Baltimore, Maryland; WRGT-TV Dayton, Ohio; WVAH-TV Charleston, West Virginia; WMYA-TV Anderson, South Carolina; WTTE-TV Columbus, Ohio; WDBB-TV Birmingham, Alabama; WBSF-TV Flint, Michigan; and WGTU-TV/WGTQ-TV Traverse City/Cadillac, Michigan (collectively, the Cunningham Stations), as well as WTAT-TV Charleston, South Carolina, and WYZZ Peoria/Bloomington, IL. During the first quarter of 2013, the estate of Carolyn C. Smith, a mother of our controlling shareholders, distributed all of the non-voting stock owned by the estate to our controlling shareholders, and a portion was repurchased by Cunningham for $1.7 million in the aggregate. During the second quarter of 2014, Cunningham purchased the remaining amount of non-voting stock from the controlling shareholders for an aggregate purchase price of $2.0 million . The estate of Mrs. Smith currently owns all of the voting stock. The sale of the voting stock by the estate to an unrelated party is pending approval of the FCC. We also had options from the trusts, which granted us the right to acquire, subject to applicable FCC rules and regulations, 100% of the voting and nonvoting stock of Cunningham, up until September 30, 2014, when these options were terminated. As discussed under Variable Interest Entities in Note 1: Summary of Significant Accounting Policies , during the third quarter of 2014, we deconsolidated Cunningham Broadcasting Corporation as we determined it was no longer a VIE. We continue to consolidate certain of its subsidiaries with which we continue to have variable interests through various arrangements related to the Cunningham Stations discussed further below. As of June 30, 2015 , certain of our stations provide programming, sales and managerial services pursuant to LMAs to six of the Cunningham stations: WNUV-TV, WRGT-TV, WVAH-TV, WMYA-TV, WTTE-TV, and WDBB-TV (collectively, the Cunningham LMA Stations). Each of these LMAs has a current term that expires on July 1, 2016 and there are three additional 5 - year renewal terms remaining with final expiration on July 1, 2031. We also executed purchase agreements to acquire the license related assets of these stations from Cunningham, which grant us the right to acquire, and grant Cunningham the right to require us to acquire, subject to applicable FCC rules and regulations, 100% of the capital stock or the assets of these individual subsidiaries of Cunningham. Our applications to acquire these license related assets are pending FCC approval. The LMA and purchase agreement with WTAT-TV was terminated concurrent with Cunningham’s purchase of the non-license assets of this station from us for $14.0 million l effective August 1, 2014. We no longer have any continuing involvement in the operations of this station. Pursuant to the terms of the LMAs, options and other agreements, beginning on January 1, 2013, we were obligated to pay Cunningham an annual LMA fee for the television stations equal to the greater of (i) 3% of each station’s annual net broadcast revenue and (ii) $5.0 million . The aggregate purchase price of the television stations, which was originally $78.5 million pursuant to certain acquisition or merger agreements subject to 6% annual increases, was decreased by each payment made by us to Cunningham, through 2012, of $29.1 million in the aggregate. Additionally, we reimburse these Cunningham LMA Stations for 100% of their operating costs. In July 2014, concurrent with the termination of the LMA with WTAT-TV, the total LMA fee for the remaining Cunningham LMA Stations was reduced by $4.7 million to remove the fee associated with WTAT-TV. The remaining aggregate purchase price of these stations, excluding WTAT-TV, as of June 30, 2015 was approximately $53.6 million . We made payments to Cunningham under our LMAs with these stations of $2.1 million for both the three months ended June 30, 2015 and 2014 , respectively, and $4.4 million and $5.4 million for the six months ended June 30, 2015 and 2014 , respectively. For the three months ended June 30, 2015 and 2014 , Cunningham LMA Stations provided us with approximately $24.1 million and $29.2 million , respectively, and approximately $45.9 million and $56.4 million for the six months ended June 30, 2015 and 2014 , respectively, of total revenue. Cunningham owns the license related assets of WBSF-TV and WGTU-TV/WGTQ-TV. We provide certain non-programming related sales, operational and administrative services to these stations pursuant to certain outsourcing agreements. The agreements with WBSF-TV and WGTU-TV/WGTQ-TV expire in November 2021 and August 2023, respectively, and each has renewal provisions for successive eight year periods. Additionally, we have provided a guarantee on the bank debt of these licensees of $2.9 million as of June 30, 2015 . Under these arrangements, we earned $1.0 million and $1.1 million from the services we performed for these stations for the three months ended June 30, 2015 and 2014 , respectively, and $2.2 million and $1.9 million for the six months ended June 30, 2015 and 2014 , respectively. As we consolidate the licensees as VIEs, the amounts we earn under the arrangements are eliminated in consolidation and the gross revenues of the stations are reported within our consolidated statement of operations. Our consolidated revenues related to these stations include $1.9 million for both the three months ended June 30, 2015 and 2014 , respectively, and $3.7 million and $3.4 million for the six months ended June 30, 2015 and 2014 , respectively. Atlantic Automotive Corporation We sold advertising time to and purchased vehicles and related vehicle services from Atlantic Automotive Corporation (Atlantic Automotive), a holding company that owns automobile dealerships and an automobile leasing company. David D. Smith, our President and Chief Executive Officer, has a controlling interest in, and is a member of the Board of Directors of Atlantic Automotive. We received payments for advertising totaling $0.1 million for both the three months ended June 30, 2015 and 2014 , and $0.2 million and $0.1 million for the six months ended June 30, 2015 and 2014 , respectively. Additionally, in August 2011, Atlantic Automotive entered into an office lease agreement with Towson City Center, LLC (Towson City Center), a subsidiary of one of our real estate ventures. Atlantic Automotive paid $0.3 million in rent during the both three months ended June 30, 2015 and 2014 , and $0.6 million and $0.5 million for the six months ended June 30, 2015 and 2014 , respectively. Leased property by real estate ventures Certain of our real estate ventures have entered into leases with entities owned by David Smith to lease restaurant space. There are leases for three restaurants in a building owned by one of our consolidated real estate ventures in Baltimore, MD. Total rent received under these leases was $0.2 million and $0.1 million for the three months ended June 30, 2015 and 2014 , and $0.3 million and $0.2 million for the six months ended June 30, 2015 and 2014 , respectively. There is also one lease for a restaurant in a building owned by one of our real estate ventures, accounted for under the equity method, in Towson, MD. This investment received less than $0.1 million in rent pursuant to the lease for both the three months ended June 30, 2015 and 2014 , and $0.1 million for both the six months ended June 30, 2015 and 2014 , respectively.

SEGMENT DATA

SEGMENT DATA	6 Months Ended
	Jun. 30, 2015
Segment Reporting [Abstract]
SEGMENT DATA	SEGMENT DATA We measure segment performance based on operating income (loss). Our broadcast segment includes stations in 79 markets located throughout the continental United States. Our other operating divisions primarily consist of sign design and fabrication; regional security alarm operating and bulk acquisitions; manufacturing and service of broadcast antennas; service of broadcast transmitters; real estate ventures; and other private equity investments. All of our other operating divisions are located within the United States. Corporate costs primarily include our costs to operate as a public company and to operate our corporate headquarters location. Other Operating Divisions and Corporate are not reportable segments but are included for reconciliation purposes. We had approximately $225.9 million and $172.2 million of intercompany loans between the broadcast segment, other operating divisions and corporate as of June 30, 2015 and 2014 , respectively. We had $5.6 million and $5.1 million in intercompany interest expense related to intercompany loans between the broadcast segment, other operating divisions and corporate for the three months ended June 30, 2015 and 2014 , respectively. We had $10.8 million and $10.0 million in intercompany interest expense for the six months ended June 30, 2015 and 2014 , respectively. All other intercompany transactions are immaterial. Segment financial information is included in the following tables for the periods presented (in thousands): For the three months ended June 30, 2015 Broadcast Other Operating Divisions Corporate Consolidated Revenue $ 532,711 $ 21,456 $ — $ 554,167 Depreciation of property and equipment 24,341 653 279 25,273 Amortization of definite-lived intangible assets and other assets 37,232 2,213 — 39,445 Amortization of program contract costs and net realizable value adjustments 29,782 — — 29,782 General and administrative overhead expenses 11,303 1,265 1,586 14,154 Operating income (loss) 119,801 642 (6,103 ) 114,340 Interest expense — 1,161 46,503 47,664 Income from equity and cost method investments — 2,007 — 2,007 Assets 4,845,685 379,867 155,429 5,380,981 For the three months ended June 30, 2014 Broadcast Other Operating Divisions Corporate Consolidated Revenue $ 437,487 $ 17,649 $ — $ 455,136 Depreciation of property and equipment 24,422 563 267 25,252 Amortization of definite-lived intangible assets and other assets 23,351 1,638 — 24,989 Amortization of program contract costs and net realizable value adjustments 23,574 — — 23,574 General and administrative overhead expenses 14,253 416 1,151 15,820 Operating income (loss) 105,460 580 (3,001 ) 103,039 Interest expense — 1,031 39,090 40,121 Income from equity and cost method investments — 742 — 742 For the six months ended June 30, 2015 Broadcast Other Operating Divisions Corporate Consolidated Revenue $ 1,017,833 $ 41,109 $ — $ 1,058,942 Depreciation of property and equipment 48,525 1,379 558 50,462 Amortization of definite-lived intangible assets and other assets 75,123 4,302 — 79,425 Amortization of program contract costs and net realizable value adjustments 60,173 — — 60,173 General and administrative overhead expenses 26,208 1,524 2,438 30,170 Operating income (loss) 207,249 1,386 (9,748 ) 198,887 Interest expense — 2,236 92,076 94,312 Income from equity and cost method investments — 5,153 — 5,153 Assets 4,845,685 379,867 155,429 5,380,981 For the six months ended June 30, 2014 Broadcast Other Operating Divisions Corporate Consolidated Revenue $ 835,393 $ 32,391 $ — $ 867,784 Depreciation of property and equipment 47,939 1,157 534 49,630 Amortization of definite-lived intangible assets and other assets 46,514 3,203 — 49,717 Amortization of program contract costs and net realizable value adjustments 47,515 — — 47,515 General and administrative overhead expenses 28,982 668 2,005 31,655 Operating income (loss) 187,580 581 (4,122 ) 184,039 Interest expense — 1,950 77,709 79,659 Income from equity and cost method investments — 840 — 840

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	6 Months Ended
	Jun. 30, 2015
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	FAIR VALUE MEASUREMENTS: Accounting guidance provides for valuation techniques, such as the market approach (comparable market prices), the income approach (present value of future income or cash flow), and the cost approach (cost to replace the service capacity of an asset or replacement cost). A fair value hierarchy using three broad levels prioritizes the inputs to valuation techniques used to measure fair value. The following is a brief description of those three levels: • Level 1: Observable inputs such as quoted prices (unadjusted) in active markets for identical assets or liabilities. • Level 2: Inputs other than quoted prices that are observable for the asset or liability, either directly or indirectly. These include quoted prices for similar assets or liabilities in active markets and quoted prices for identical or similar assets or liabilities in markets that are not active. • Level 3: Unobservable inputs that reflect the reporting entity’s own assumptions. The carrying value and fair value of our notes and debentures for the periods presented (in thousands): As of June 30, 2015 As of December 31, 2014 Carrying Value Fair Value Carrying Value Fair Value Level 2: 6.375% Senior Unsecured Notes due 2021 $ 350,000 $ 363,909 $ 350,000 $ 355,800 6.125% Senior Unsecured Notes due 2022 500,000 513,750 500,000 503,475 5.625% Senior Unsecured Notes due 2024 550,000 544,500 550,000 532,813 5.375% Senior Unsecured Notes due 2021 600,000 605,490 600,000 595,068 Term Loan A 331,995 328,884 348,073 341,982 Term Loan B 1,386,626 1,381,122 1,035,883 1,029,997 Revolving credit facility — — 338,000 338,000 Debt of variable interest entities 28,425 28,425 30,167 30,167 Debt of other operating divisions 133,674 133,674 118,822 118,822

CONDENSED CONSOLIDATING FINANCI

CONDENSED CONSOLIDATING FINANCIAL STATEMENTS	6 Months Ended
	Jun. 30, 2015
Condensed Financial Information of Parent Company Only Disclosure [Abstract]
CONDENSED CONSOLIDATING FINANCIAL STATEMENTS	CONDENSED CONSOLIDATING FINANCIAL STATEMENTS: Sinclair Television Group, Inc. (STG), a wholly-owned subsidiary and the television operating subsidiary of Sinclair Broadcast Group, Inc. (SBG), is the primary obligor under the Bank Credit Agreement, the 5.375% Notes, the 5.625% Notes, 6.125% Notes, and 6.375% Notes. Our Class A Common Stock and Class B Common Stock as of June 30, 2015 , were obligations or securities of SBG and not obligations or securities of STG. SBG is a guarantor under the Bank Credit Agreement, the 5.375% Notes, 5.625% Notes, 6.125% Notes, and 6.375% Notes. As of June 30, 2015 , our consolidated total debt, net of deferred financing costs and debt discounts, of $3,889.7 million included $3,751.7 million related to STG and its subsidiaries of which SBG guaranteed $3,701.3 million . SBG, KDSM, LLC, a wholly-owned subsidiary of SBG, and STG’s wholly-owned subsidiaries (guarantor subsidiaries), have fully and unconditionally guaranteed, subject to certain customary automatic release provisions, all of STG’s obligations. Those guarantees are joint and several. There are certain contractual restrictions on the ability of SBG, STG or KDSM, LLC to obtain funds from their subsidiaries in the form of dividends or loans. The following condensed consolidating financial statements present the consolidated balance sheets, consolidated statements of operations and consolidated statements of cash flows of SBG, STG, KDSM, LLC and the guarantor subsidiaries, the direct and indirect non-guarantor subsidiaries of SBG and the eliminations necessary to arrive at our information on a consolidated basis. These statements are presented in accordance with the disclosure requirements under SEC Regulation S-X, Rule 3-10. CONDENSED CONSOLIDATING BALANCE SHEET AS OF JUNE 30, 2015 (in thousands) (unaudited) Sinclair Sinclair Guarantor Non- Eliminations Sinclair Cash $ — $ 49,400 $ 1,068 $ 14,111 $ — $ 64,579 Accounts and other receivables — — 356,389 29,418 (1,237 ) 384,570 Other current assets 2,456 15,466 63,074 22,866 (9,212 ) 94,650 Total current assets 2,456 64,866 420,531 66,395 (10,449 ) 543,799 Property and equipment, net 3,416 21,783 551,889 172,701 (7,935 ) 741,854 Assets held for sale — — 1,843 — — 1,843 Investment in consolidated subsidiaries 438,600 3,476,007 4,079 — (3,918,686 ) — Goodwill — — 1,947,027 4,275 — 1,951,302 Broadcast licenses — — 113,955 16,960 — 130,915 Definite-lived intangible assets — — 1,659,249 197,479 (63,809 ) 1,792,919 Other long-term assets 59,027 636,526 115,999 151,204 (744,407 ) 218,349 Total assets $ 503,499 $ 4,199,182 $ 4,814,572 $ 609,014 $ (4,745,286 ) $ 5,380,981 Accounts payable and accrued liabilities $ 161 $ 42,461 $ 181,306 $ 26,381 $ (14,070 ) $ 236,239 Current portion of long-term debt 217 49,547 1,437 10,734 — 61,935 Current portion of affiliate long-term debt 1,556 — 1,136 1,409 (1,220 ) 2,881 Other current liabilities 1,208 — 87,741 8,362 (1,485 ) 95,826 Total current liabilities 3,142 92,008 271,620 46,886 (16,775 ) 396,881 Long-term debt — 3,623,777 33,592 150,716 — 3,808,085 Affiliate long-term debt 2,700 — 12,216 358,791 (356,932 ) 16,775 Other liabilities 28,598 29,278 1,019,773 170,322 (534,990 ) 712,981 Total liabilities 34,440 3,745,063 1,337,201 726,715 (908,697 ) 4,934,722 Total Sinclair Broadcast Group equity (deficit) 469,059 454,119 3,477,371 (90,747 ) (3,840,743 ) 469,059 Noncontrolling interests in consolidated subsidiaries — — — (26,954 ) 4,154 (22,800 ) Total liabilities and equity (deficit) $ 503,499 $ 4,199,182 $ 4,814,572 $ 609,014 $ (4,745,286 ) $ 5,380,981 CONDENSED CONSOLIDATING BALANCE SHEET AS OF DECEMBER 31, 2014 (in thousands) Sinclair Sinclair Guarantor Non- Eliminations Sinclair Cash $ — $ 3,394 $ 1,749 $ 12,539 $ — $ 17,682 Accounts and other receivables — 164 359,486 25,111 (1,258 ) 383,503 Other current assets 5,741 12,996 98,751 12,721 (11,733 ) 118,476 Assets held for sale — — — 6,504 — 6,504 Total current assets 5,741 16,554 459,986 56,875 (12,991 ) 526,165 Property and equipment, net 3,949 17,554 569,372 168,762 (7,099 ) 752,538 Assets held for sale — — 1,843 6,974 — 8,817 Investment in consolidated subsidiaries 395,225 3,585,037 3,978 — (3,984,240 ) — Goodwill — — 1,963,254 1,299 — 1,964,553 Broadcast Licenses — — 118,115 16,960 — 135,075 Definite-lived intangible assets — — 1,698,919 184,441 (65,097 ) 1,818,263 Other long-term assets 65,988 555,877 132,611 121,273 (670,832 ) 204,917 Total assets $ 470,903 $ 4,175,022 $ 4,948,078 $ 556,584 $ (4,740,259 ) $ 5,410,328 Accounts payable and accrued liabilities $ 541 $ 46,083 $ 201,102 $ 24,325 $ (13,680 ) $ 258,371 Current portion of long-term debt 529 42,953 1,302 68,332 — 113,116 Current portion of affiliate long-term debt 1,464 — 1,182 1,026 (1,047 ) 2,625 Other current liabilities 1,208 — 107,867 9,749 (1,407 ) 117,417 Liabilities held for sale — — — 2,477 — 2,477 Total current liabilities 3,742 89,036 311,453 105,909 (16,134 ) 494,006 Long-term debt — 3,638,286 34,338 82,198 — 3,754,822 Affiliate long-term debt 3,508 — 12,802 319,901 (319,902 ) 16,309 Other liabilities 35,771 28,856 1,003,213 169,935 (497,927 ) 739,848 Total liabilities 43,021 3,756,178 1,361,806 677,943 (833,963 ) 5,004,985 Total Sinclair Broadcast Group equity (deficit) 427,882 418,844 3,586,272 (94,632 ) (3,910,484 ) 427,882 Noncontrolling interests in consolidated subsidiaries — — — (26,727 ) 4,188 (22,539 ) Total liabilities and equity (deficit) $ 470,903 $ 4,175,022 $ 4,948,078 $ 556,584 $ (4,740,259 ) $ 5,410,328 CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME FOR THE THREE MONTHS ENDED JUNE 30, 2015 (in thousands) (unaudited) Sinclair Sinclair Guarantor Non- Eliminations Sinclair Net revenue $ — $ — $ 522,405 $ 52,908 $ (21,146 ) $ 554,167 Program and production — — 180,033 20,550 (19,495 ) 181,088 Selling, general and administrative 1,457 11,429 100,579 3,683 (193 ) 116,955 Depreciation, amortization and other operating expenses 266 809 109,201 32,135 (627 ) 141,784 Total operating expenses 1,723 12,238 389,813 56,368 (20,315 ) 439,827 Operating (loss) income (1,723 ) (12,238 ) 132,592 (3,460 ) (831 ) 114,340 Equity in earnings of consolidated subsidiaries 46,369 85,483 (50 ) — (131,802 ) — Interest expense (106 ) (44,969 ) (1,165 ) (7,470 ) 6,046 (47,664 ) Other income (expense) 944 444 203 1,466 — 3,057 Total other income (expense) 47,207 40,958 (1,012 ) (6,004 ) (125,756 ) (44,607 ) Income tax benefit (provision) 303 19,584 (44,899 ) 1,678 — (23,334 ) Net income (loss) 45,787 48,304 86,681 (7,786 ) (126,587 ) 46,399 Net income attributable to the noncontrolling interests — — — (646 ) 34 (612 ) Net income (loss) attributable to Sinclair Broadcast Group $ 45,787 $ 48,304 $ 86,681 $ (8,432 ) $ (126,553 ) $ 45,787 Comprehensive income (loss) $ 46,483 $ 48,315 $ 86,756 $ (7,786 ) $ (127,285 ) $ 46,483 CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME FOR THE THREE MONTHS ENDED JUNE 30, 2014 (in thousands) (unaudited) Sinclair Sinclair Guarantor Non- Eliminations Sinclair Net revenue $ — $ — $ 430,334 $ 47,527 $ (22,725 ) $ 455,136 Program and production — 114 133,440 21,492 (20,743 ) 134,303 Selling, general and administrative 1,155 14,000 80,324 3,511 (575 ) 98,415 Depreciation, amortization and other operating expenses 267 1,138 93,889 24,805 (720 ) 119,379 Total operating expenses 1,422 15,252 307,653 49,808 (22,038 ) 352,097 Operating (loss) income (1,422 ) (15,252 ) 122,681 (2,281 ) (687 ) 103,039 Equity in earnings of consolidated subsidiaries 42,662 75,388 — — (118,050 ) — Interest expense (149 ) (37,082 ) (1,224 ) (6,974 ) 5,308 (40,121 ) Other income (expense) 941 86 465 285 (20 ) 1,757 Total other income (expense) 43,454 38,392 (759 ) (6,689 ) (112,762 ) (38,364 ) Income tax benefit (provision) (697 ) 19,209 (43,691 ) 2,105 — (23,074 ) Net income (loss) 41,335 42,349 78,231 (6,865 ) (113,449 ) 41,601 Net income attributable to the noncontrolling interests — — — (299 ) 33 (266 ) Net income (loss) attributable to Sinclair Broadcast Group $ 41,335 $ 42,349 $ 78,231 $ (7,164 ) $ (113,416 ) $ 41,335 Comprehensive income (loss) $ 42,247 $ 42,515 $ 78,231 $ (5,887 ) $ (114,859 ) $ 42,247 CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME FOR THE SIX MONTHS ENDED JUNE 30, 2015 (in thousands) (unaudited) Sinclair Sinclair Guarantor Non- Eliminations Sinclair Net revenue $ — $ — $ 999,076 $ 99,912 $ (40,046 ) $ 1,058,942 Program and production — — 349,727 40,399 (38,023 ) 352,103 Selling, general and administrative 2,501 26,212 199,927 6,323 (105 ) 234,858 Depreciation, amortization and other operating expenses 533 1,584 211,560 60,385 (968 ) 273,094 Total operating expenses 3,034 27,796 761,214 107,107 (39,096 ) 860,055 Operating (loss) income (3,034 ) (27,796 ) 237,862 (7,195 ) (950 ) 198,887 Equity in earnings of consolidated subsidiaries 70,693 149,948 (100 ) — (220,541 ) — Interest expense (207 ) (88,842 ) (2,341 ) (14,176 ) 11,254 (94,312 ) Other income (expense) 2,294 291 266 3,570 — 6,421 Total other income (expense) 72,780 61,397 (2,175 ) (10,606 ) (209,287 ) (87,891 ) Income tax benefit (provision) 323 40,199 (83,277 ) 2,994 — (39,761 ) Net income (loss) 70,069 73,800 152,410 (14,807 ) (210,237 ) 71,235 Net income attributable to the noncontrolling interests — — — (1,200 ) 34 (1,166 ) Net income (loss) attributable to Sinclair Broadcast Group $ 70,069 $ 73,800 $ 152,410 $ (16,007 ) $ (210,203 ) $ 70,069 Comprehensive income (loss) $ 71,403 $ 73,817 $ 152,561 $ (14,807 ) $ (211,571 ) $ 71,403 CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME FOR THE SIX MONTHS ENDED JUNE 30, 2014 (in thousands) (unaudited) Sinclair Sinclair Guarantor Non- Eliminations Sinclair Net revenue $ — $ — $ 820,414 $ 88,954 $ (41,584 ) $ 867,784 Program and production — 190 260,173 39,903 (38,924 ) 261,342 Selling, general and administrative 2,040 28,545 160,826 5,911 (1,147 ) 196,175 Depreciation, amortization and other operating expenses 534 2,245 180,279 43,965 (795 ) 226,228 Total operating expenses 2,574 30,980 601,278 89,779 (40,866 ) 683,745 Operating (loss) income (2,574 ) (30,980 ) 219,136 (825 ) (718 ) 184,039 Equity in earnings of consolidated subsidiaries 69,349 137,652 — — (207,001 ) — Interest expense (308 ) (73,830 ) (2,466 ) (13,527 ) 10,472 (79,659 ) Other income (expense) 1,587 382 558 285 (40 ) 2,772 Total other income (expense) 70,628 64,204 (1,908 ) (13,242 ) (196,569 ) (76,887 ) Income tax benefit (provision) 439 36,476 (76,733 ) 1,924 — (37,894 ) Net income (loss) 68,493 69,700 140,495 (12,143 ) (197,287 ) 69,258 Net income attributable to the noncontrolling interests — — — (798 ) 33 (765 ) Net income (loss) attributable to Sinclair Broadcast Group $ 68,493 $ 69,700 $ 140,495 $ (12,941 ) $ (197,254 ) $ 68,493 Comprehensive income (loss) $ 69,942 $ 69,780 $ 140,495 $ (11,539 ) $ (198,736 ) $ 69,942 CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS FOR THE SIX MONTHS ENDED JUNE 30, 2015 (in thousands) (unaudited) Sinclair Sinclair Guarantor Non- Eliminations Sinclair NET CASH FLOWS (USED IN) FROM OPERATING ACTIVITIES $ (142 ) $ (70,337 ) $ 265,762 $ (24,664 ) $ 7,397 $ 178,016 CASH FLOWS (USED IN) FROM INVESTING ACTIVITIES: Acquisition of property and equipment — (5,852 ) (40,875 ) (1,097 ) 762 (47,062 ) Purchase of alarm monitoring contracts — — — (16,673 ) — (16,673 ) Distributions from equity and costs method investees 3,486 500 — 4,182 — 8,168 Investments in equity and cost method investees — (4,401 ) (33 ) (33,375 ) — (37,809 ) Other, net — (1,461 ) 4,788 156 — 3,483 Net cash flows (used in) from investing activities 3,486 (11,214 ) (36,120 ) (46,807 ) 762 (89,893 ) CASH FLOWS FROM (USED IN) FINANCING ACTIVITIES: Proceeds from notes payable, commercial bank financing and capital leases — 349,562 — 15,291 — 364,853 Repayments of notes payable, commercial bank financing and capital leases (312 ) (357,328 ) (611 ) (2,229 ) — (360,480 ) Dividends paid on Class A and Class B Common Stock (31,464 ) — — — — (31,464 ) Repurchase of outstanding Class A Common Stock (7,803 ) — — — — (7,803 ) Increase (decrease) in intercompany payables 37,036 138,814 (230,262 ) 62,571 (8,159 ) — Other, net (801 ) (3,491 ) 550 (2,590 ) — (6,332 ) Net cash flows (used in) from financing activities (3,344 ) 127,557 (230,323 ) 73,043 (8,159 ) (41,226 ) NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS — 46,006 (681 ) 1,572 — 46,897 CASH AND CASH EQUIVALENTS, beginning of period — 3,394 1,749 12,539 — 17,682 CASH AND CASH EQUIVALENTS, end of period $ — $ 49,400 $ 1,068 $ 14,111 $ — $ 64,579 CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS FOR THE SIX MONTHS ENDED JUNE 30, 2014 (in thousands) (unaudited) Sinclair Sinclair Guarantor Non- Eliminations Sinclair NET CASH FLOWS (USED IN) FROM OPERATING ACTIVITIES $ (2,354 ) $ (73,198 ) $ 232,107 $ 19,126 $ 4,303 $ 179,984 CASH FLOWS (USED IN) FROM INVESTING ACTIVITIES: Acquisition of property and equipment — (2,935 ) (21,993 ) (1,659 ) — (26,587 ) Purchase of alarm monitoring contracts — — — (7,835 ) — (7,835 ) Decrease in restricted cash — (900 ) 217 — — (683 ) Investments in equity and cost method investees — — — (6,167 ) — (6,167 ) Payments for acquisition of assets in other operating divisions — — — (8,273 ) — (8,273 ) Proceeds from termination of life insurance policies — 17,042 — — — 17,042 Other, net 1,000 — 264 (67 ) — 1,197 Net cash flows (used in) from investing activities 1,000 13,207 (21,512 ) (24,001 ) — (31,306 ) CASH FLOWS FROM (USED IN) FINANCING ACTIVITIES: Proceeds from notes payable, commercial bank financing and capital leases — 91,796 — 10,928 — 102,724 Repayments of notes payable, commercial bank financing and capital leases (268 ) (17,056 ) (482 ) (3,308 ) — (21,114 ) Dividends paid on Class A and Class B Common Stock (29,284 ) — — — — (29,284 ) Repurchase of outstanding Class A Common Stock (82,371 ) — — — — (82,371 ) Increase (decrease) in intercompany payables 111,767 130,501 (238,219 ) 254 (4,303 ) — Other, net 1,510 (235 ) — (4,466 ) — (3,191 ) Net cash flows (used in) from financing activities 1,354 205,006 (238,701 ) 3,408 (4,303 ) (33,236 ) NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS — 145,015 (28,106 ) (1,467 ) — 115,442 CASH AND CASH EQUIVALENTS, beginning of period — 237,974 28,594 13,536 — 280,104 CASH AND CASH EQUIVALENTS, end of period $ — $ 382,989 $ 488 $ 12,069 $ — $ 395,546

SUMMARY OF SIGNIFICANT ACCOUN19

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	6 Months Ended
	Jun. 30, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Principles of Consolidation	Principles of Consolidation The consolidated financial statements include our accounts and those of our wholly-owned and majority-owned subsidiaries and variable interest entities (VIEs) for which we are the primary beneficiary. Noncontrolling interests represents a minority owner’s proportionate share of the equity in certain of our consolidated entities. All intercompany transactions and account balances have been eliminated in consolidation.
Variable Interest Entities	Variable Interest Entities In determining whether we are the primary beneficiary of a VIE for financial reporting purposes, we consider whether we have the power to direct the activities of the VIE that most significantly impact the economic performance of the VIE and whether we have the obligation to absorb losses or the right to receive returns that would be significant to the VIE. We consolidate VIEs when we are the primary beneficiary. The assets of each of our consolidated VIEs can only be used to settle the obligations of the VIE. All the liabilities are non-recourse to us except for certain debt of VIEs which we guarantee. Third-party station licensees. Certain of our stations provide services to other station owners within the same respective market, such as LMAs, where we provide programming, sales, operational and administrative services, and JSAs and SSAs, where we provide non-programming, sales, operational and administrative services. In certain cases, we have also entered into purchase agreements or options to purchase, the license related assets of the licensee. We typically own the majority of the non-license assets of the stations and in some cases where the licensee acquired the license assets concurrent with our acquisition of the non-license assets of the station, we have provided guarantees to the bank for the licensee’s acquisition financing. The terms of the agreements vary, but generally have initial terms of over five years with several optional renewal terms. As of June 30, 2015 and December 31, 2014 , we have concluded that 37 of these licensees are VIEs. Based on the terms of the agreements and the significance of our investment in the stations, we are the primary beneficiary of the variable interests because, subject to the ultimate control of the licensees, we have the power to direct the activities which significantly impact the economic performance of the VIE through the services we provide and because we absorb losses and returns that would be considered significant to the VIEs. Several of these VIEs are owned by a related party, Cunningham Broadcasting Corporation (Cunningham). See Note 8. Related Person Transactions for more information about the arrangements with Cunningham. The net revenues of the stations which we consolidate were $71.8 million and $136.6 million for the three and six months ended June 30, 2015 , and $71.8 million and $138.2 million for the three and six months ended June 30, 2014 , respectively. The fees paid between us and the licensees pursuant to these arrangements are eliminated in consolidation. See Changes in the Rules of Television Ownership and Joint Sale Agreements within Note 6. Commitment and Contingencies for discussion of recent changes in FCC rules related to JSAs. Up until third quarter of 2014, we had consolidated Cunningham (parent entity), in addition to their stations that we perform services for, as we had previously determined that it was a VIE because it had insufficient equity at risk. As of September 30, 2014, we concluded that Cunningham was no longer a VIE given its significant equity at risk in assets that we have no involvement with, and deconsolidated this entity, along with WTAT and WYZZ, stations that Cunningham acquired from us in July 2014 and November 2013, respectively, with which we have no continuing involvement. As a result of the deconsolidation, we recorded the difference between the proceeds received from Cunningham for the sale of WTAT and WYZZ to additional paid in capital in the consolidated balance sheet, as well as reflected the noncontrolling interest deficit of the remaining Cunningham VIEs which represents their significant cumulative distributions made to Cunningham (parent entity) that were previously eliminated in consolidation. As of the dates indicated, the carrying amounts and classification of the assets and liabilities of the VIEs mentioned above which have been included in our consolidated balance sheets for the periods presented (in thousands): June 30, December 31, ASSETS CURRENT ASSETS: Cash and cash equivalents $ 490 $ 491 Accounts receivable 19,307 19,521 Current portion of program contract costs 8,570 9,544 Prepaid expenses and other current assets 435 297 Total current assets 28,802 29,853 PROGRAM CONTRACT COSTS, less current portion 4,866 6,922 PROPERTY AND EQUIPMENT, net 9,012 9,716 GOODWILL 787 787 BROADCAST LICENSES 16,960 16,935 DEFINITE-LIVED INTANGIBLE ASSETS, net 87,974 96,732 OTHER ASSETS 6,924 2,376 Total assets $ 155,325 $ 163,321 LIABILITIES CURRENT LIABILITIES: Accounts payable $ 39 $ 68 Accrued liabilities 1,431 1,297 Current portion of notes payable, capital leases and commercial bank financing 3,673 3,659 Current portion of program contracts payable 8,172 9,714 Total current liabilities 13,315 14,738 LONG-TERM LIABILITIES: Notes payable, capital leases and commercial bank financing, less current portion 26,321 28,640 Program contracts payable, less current portion 10,520 10,161 Long term liabilities 8,670 8,739 Total liabilities $ 58,826 $ 62,278 The amounts above represent the consolidated assets and liabilities of the VIEs described above, for which we are the primary beneficiary, and have been aggregated as they all relate to our broadcast business. Excluded from the amounts above are payments made to Cunningham under the LMA which are treated as a prepayment of the purchase price of the stations and capital leases between us and Cunningham which are eliminated in consolidation. The cumulative payments made under these LMAs that were treated as a prepayment of purchase price as of June 30, 2015 and December 31, 2014 , which are excluded from liabilities above, were $36.0 million and $34.4 million , respectively. The total capital lease liabilities, net of capital lease assets, excluded from the above were $4.3 million for June 30, 2015 and December 31, 2014 . Also excluded from the amounts above are liabilities associated with the certain outsourcing agreements and purchase options with certain VIEs totaling $78.9 million and $78.1 million as of June 30, 2015 and December 31, 2014 , respectively, as these amounts are eliminated in consolidation. The risk and reward characteristics of the VIEs are similar. Other investments. We have investments in other real estate ventures and investment companies which are considered VIEs. However, we do not participate in the management of these entities including the day-to-day operating decisions or other decisions which would allow us to control the entity, and therefore, we are not considered the primary beneficiary of these VIEs. We account for these entities using the equity or cost method of accounting. The carrying amounts of our investments in these VIEs for which we are not the primary beneficiary as of June 30, 2015 and December 31, 2014 was $19.3 million and $22.7 million , respectively, which are included in other assets in the consolidated balance sheets. Our maximum exposure is equal to the carrying value of our investments. The income and loss related to these investments are recorded in income from equity and cost method investments in the consolidated statement of operations. We recorded income of $2.6 million and $5.5 million for the three and six months ended June 30, 2015 , and income of $0.7 million and $0.9 million for the three and six months ended June 30, 2014 , respectively, related to these investments.
Recent Accounting Pronouncements	Recent Accounting Pronouncements In May 2014, the FASB issued guidance on revenue recognition for revenue from contracts with customers. This guidance requires an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers and will replace most existing revenue recognition guidance when it becomes effective. The new standard effective for annual reporting periods beginning after December 15, 2016. In July 2015, the FASB decided to defer the effective date by one year to the annual reporting period beginning after December 15, 2017, however, early adoption as of the original effective date will be permitted. The standard permits the use of either the retrospective or cumulative effect transition method. We are currently evaluating the impact of this guidance on our financial statements. In August 2014, the FASB issued guidance on disclosure of uncertainties about an entity’s ability to continue as a going concern. The new standard is effective for the annual period ending after December 15, 2016, and for annual periods and interim periods thereafter. We are currently evaluating the impact of this new guidance on our financial statements. In February 2015, the FASB issued new guidance that amends the current consolidation guidance on the determination of whether an entity is a variable interest entity. This new standard is effective for the annual period beginning after December 15, 2016. Early adoption is allowed, including in any interim period. We are currently evaluating the impact of this new guidance on our financial statements. In April 2015, the FASB issued guidance related to the presentation of debt issuance costs in the balance sheet. The guidance requires costs paid to third parties that are directly attributable to issuing a debt instrument to be presented as a direct deduction from the carrying value of the debt as opposed to an asset. The new standard is effective for the annual reporting periods beginning after December 15, 2015 with early adoption permitted, and is required to be applied retrospectively. We have applied the change in accounting as of June 30, 2015 with retrospective application to prior periods. As such, within our consolidated balance sheet as of December 31, 2014, we have decreased the amounts previously reported as other assets and notes payable, capital leases and commercial bank financing, less current portion by $41.8 million . The change in accounting principle does not have an impact on our statements of operations or cash flows.
Use of Estimates	Use of Estimates The preparation of financial statements in accordance with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses in the consolidated financial statements and in the disclosures of contingent assets and liabilities. Actual results could differ from those estimates.
Revenue Recognition	Revenue Recognition Total revenues include: (i) cash and barter advertising revenues, net of agency commissions; (ii) retransmission consent fees; (iii) network compensation; (iv) other broadcast revenues and (v) revenues from our other operating divisions. Advertising revenues, net of agency commissions, are recognized in the period during which time spots are aired. Our retransmission consent agreements contain both advertising and retransmission consent elements. We have determined that our retransmission consent agreements are revenue arrangements with multiple deliverables. Advertising and retransmission consent deliverables sold under our agreements are separated into different units of accounting at fair value. Revenue applicable to the advertising element of the arrangement is recognized similar to the advertising revenue policy noted above. Revenue applicable to the retransmission consent element of the arrangement is recognized over the life of the agreement. Network compensation revenue is recognized over the term of the contract. All other revenues are recognized as services are provided.
Share Repurchase Program	Share Repurchase Program On October 28, 1999, we announced a $150.0 million share repurchase program, which was renewed on February 6, 2008. On March 20, 2014, the Board of Directors authorized an additional $150.0 million share repurchase authorization. There is no expiration date and currently, management has no plans to terminate this program. For the six months ended June 30, 2015 , we have purchased approximately 0.3 million shares for $7.8 million . As of June 30, 2015 , the total remaining authorization was $126.6 million .
Income Taxes	Income Taxes Our income tax provision for all periods consists of federal and state income taxes. The tax provision for the six months ended June 30, 2015 and 2014 is based on the estimated effective tax rate applicable for the full year after taking into account discrete tax items and the effects of the noncontrolling interests. We provide a valuation allowance for deferred tax assets if we determine that it is more likely than not that some or all of the deferred tax assets will not be realized. In evaluating our ability to realize net deferred tax assets, we consider all available evidence, both positive and negative, including our past operating results, tax planning strategies and forecasts of future taxable income. In considering these sources of taxable income, we must make certain judgments that are based on the plans and estimates used to manage our underlying businesses on a long-term basis. A valuation allowance has been provided for deferred tax assets related to a substantial portion of our available state net operating loss (NOL) carryforwards, based on past operating results, expected timing of the reversals of existing temporary book/tax basis differences, alternative tax strategies and projected future taxable income. Our effective income tax rate for the three months ended June 30, 2015 was less than the statutory rate primarily due to a decrease in our income tax provision resulting from certain state law changes. Our effective income tax rate for the six months ended June 30, 2015 exceeded the statutory rate primarily due to an increase in income tax provision resulting from a settlement of a state income tax position. Our effective income tax rate for the three months and six months ended June 30 2014 approximated the statutory rate. We believe it is reasonably possible that our liability for unrecognized tax benefits related to continuing operations could be reduced by up to $5.7 million , in the next twelve months, as a result of expected statute of limitations expirations, the application of limits under available state administrative practice exceptions, and the resolution of examination issues and settlements with federal and certain state tax authorities.
Reclassifications	Reclassificiations Certain reclassifications have been made to prior years' consolidated financial statements to conform to the current year's presentation.

SUMMARY OF SIGNIFICANT ACCOUN20

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	6 Months Ended
	Jun. 30, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of carrying amounts and classification of assets and liabilities of VIEs	As of the dates indicated, the carrying amounts and classification of the assets and liabilities of the VIEs mentioned above which have been included in our consolidated balance sheets for the periods presented (in thousands): June 30, December 31, ASSETS CURRENT ASSETS: Cash and cash equivalents $ 490 $ 491 Accounts receivable 19,307 19,521 Current portion of program contract costs 8,570 9,544 Prepaid expenses and other current assets 435 297 Total current assets 28,802 29,853 PROGRAM CONTRACT COSTS, less current portion 4,866 6,922 PROPERTY AND EQUIPMENT, net 9,012 9,716 GOODWILL 787 787 BROADCAST LICENSES 16,960 16,935 DEFINITE-LIVED INTANGIBLE ASSETS, net 87,974 96,732 OTHER ASSETS 6,924 2,376 Total assets $ 155,325 $ 163,321 LIABILITIES CURRENT LIABILITIES: Accounts payable $ 39 $ 68 Accrued liabilities 1,431 1,297 Current portion of notes payable, capital leases and commercial bank financing 3,673 3,659 Current portion of program contracts payable 8,172 9,714 Total current liabilities 13,315 14,738 LONG-TERM LIABILITIES: Notes payable, capital leases and commercial bank financing, less current portion 26,321 28,640 Program contracts payable, less current portion 10,520 10,161 Long term liabilities 8,670 8,739 Total liabilities $ 58,826 $ 62,278

ACQUISITIONS (Tables)

ACQUISITIONS (Tables)	6 Months Ended
	Jun. 30, 2015
Business Combinations [Abstract]
Schedule of allocated fair value of acquired assets and liabilities assumed	The following tables summarize the allocated fair value of acquired assets and assumed liabilities, including the net assets of consolidated VIEs (in thousands): MEG Stations KSNV Allbritton Other Total 2014 acquisitions Accounts receivable $ — $ — $ 38,542 $ — $ 38,542 Prepaid expenses and other current assets 476 67 19,890 79 20,512 Program contract costs 1,954 482 1,204 2,561 6,201 Property and equipment 23,462 8,300 46,600 8,400 86,762 Broadcast licenses 100 — 13,700 125 13,925 Definite-lived intangible assets 125,200 62,700 564,100 71,025 823,025 Other assets — — 20,352 1,500 21,852 Assets held for sale — — 83,200 — 83,200 Accounts payable and accrued liabilities (2,085 ) (277 ) (8,351 ) (1,143 ) (11,856 ) Program contracts payable (1,914 ) (481 ) (1,140 ) (2,554 ) (6,089 ) Deferred tax liability — — (261,291 ) — (261,291 ) Other long term liabilities — (1,200 ) (17,263 ) — (18,463 ) Fair value of identifiable net assets acquired 147,193 69,591 499,543 79,993 796,320 Goodwill 58,698 48,699 535,694 42,443 685,534 Total $ 205,891 $ 118,290 $ 1,035,237 $ 122,436 $ 1,481,854
Schedule of allocated to definite-lived intangible assets	The following tables summarize the amounts allocated to definite-lived intangible assets representing the estimated fair values and estimated goodwill deductible for tax purposes (in thousands): MEG Stations KSNV Allbritton Other Total 2014 acquisitions Network affiliations $ 54,300 $ 44,775 $ 356,900 $ 42,625 $ 498,600 Customer relationships 47,400 17,925 207,200 27,400 299,925 Other intangible assets 23,500 — — 1,000 24,500 Fair value of identifiable definite-lived intangible assets acquired $ 125,200 $ 62,700 $ 564,100 $ 71,025 $ 823,025 Estimated goodwill deductible for tax purposes $ 58,698 $ 48,699 $ — $ 42,443 $ 149,840
Schedule of unaudited pro forma results of operations	The following table sets forth unaudited pro forma results of operations for the three and six months ended June 30, 2014 , assuming that the above acquisitions, along with transactions necessary to finance the acquisitions, occurred at the beginning of the year preceding the year of acquisition. The pro forma results exclude acquisitions presented under Other above, as they were deemed not material both individually and in the aggregate (in thousands, except per share data): Three Months Ended June 30, Six Months Ended 2014 2014 Total revenues $ 528,490 $ 1,000,920 Net Income $ 40,361 $ 67,817 Net Income attributable to Sinclair Broadcast Group $ 40,095 $ 67,052 Basic earnings per share attributable to Sinclair Broadcast Group $ 0.41 $ 0.68 Diluted earnings per share attributable to Sinclair Broadcast Group $ 0.41 $ 0.68

DISPOSITION OF ASSETS (Tables)

DISPOSITION OF ASSETS (Tables)	6 Months Ended
	Jun. 30, 2015
Discontinued Operations and Disposal Groups [Abstract]
Schedule of major classes of assets and liabilities of the group reported as held for sale	As of December 31, 2014 , the major classes of assets and liabilities of the group reported as held for sale on the accompanying consolidated balance sheet are shown below (in thousands): December 31, 2014 Assets: Accounts receivable $ 5,101 Prepaid expenses and other current assets 1,403 Total current assets held for sale 6,504 Property and equipment (a) 1,036 Goodwill 2,975 Definite-lived intangible assets 2,962 Total assets held for sale $ 13,477 Liabilities: Accounts payable $ 1,096 Accrued liabilities 1,360 Current portion of notes payable, capital leases and commercial bank financing 21 Total liabilities held for sale $ 2,477 (a) Excluded from the above is $1.8 million in held for sale assets as of June 30, 2015 and December 31, 2014 related to certain real estate assets within our broadcast segment.

GOODWILL, BROADCAST LICENCES 23

GOODWILL, BROADCAST LICENCES AND OTHER INTANGIBLE ASSETS (Tables)	6 Months Ended
	Jun. 30, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill	The change in the carrying amount of goodwill related to continuing operations was as follows (in thousands): Broadcast Other Operating Divisions Consolidated Balance at December 31, 2014 Goodwill $ 2,377,613 $ 513 $ 2,378,126 Accumulated impairment losses (413,573 ) — (413,573 ) 1,964,040 513 1,964,553 Measurement period adjustments related to 2014 acquisitions (a) (16,226 ) — (16,226 ) Change in assets held for sale (b) — 2,975 2,975 Balance at June 30, 2015 Goodwill 2,361,387 3,488 2,364,875 Accumulated impairment losses (413,573 ) — (413,573 ) $ 1,947,814 $ 3,488 $ 1,951,302 (a) Amounts relate to immaterial measurement period adjustments related to 2014 acquisitions as discussed in Note 2. Acquisitions . (b) During the six months ended June 30, 2015 , we concluded that the assets of Triangle were no longer classified as assets held for sale. See Note 3. Disposition of Assets for further discussion.
Schedule of Indefinite-Lived Intangible Assets	As of June 30, 2015 and December 31, 2014 , the carrying amount of our broadcast licenses was as follows (in thousands): June 30, 2015 Balance at December 31, 2014 $ 135,075 Sale of broadcast assets (75 ) Measurement period adjustments related to 2014 acquisitions (a) (4,085 ) Balance at June 30, 2015 $ 130,915 (a)
Finite-lived Intangible Assets Amortization	The following table shows the gross carrying amount and accumulated amortization of definite-lived intangibles (in thousands): As of June 30, 2015 Gross Carrying Value Accumulated Amortization Net Amortized intangible assets: Network affiliation (a) $ 1,388,691 $ (303,590 ) $ 1,085,101 Customer relationships (a) 766,979 (199,687 ) 567,292 Other (b) 215,359 (74,833 ) 140,526 Total $ 2,371,029 $ (578,110 ) $ 1,792,919 As of December 31, 2014 Gross Carrying Value Accumulated Amortization Net Amortized intangible assets: Network affiliation (a) $ 1,396,792 $ (257,526 ) $ 1,139,266 Customer relationships (a) 749,292 (177,453 ) 571,839 Other (b) 174,442 (67,284 ) 107,158 Total $ 2,320,526 $ (502,263 ) $ 1,818,263 (a) Changes between the gross carrying value from December 31, 2014 to June 30, 2015, relate to immaterial measurement period adjustments related to 2014 acquisitions as discussed in Note 2. Acquisitions . (b) The increase in other intangible assets includes $16.7 million in additions from other operating divisions in 2015

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	6 Months Ended
	Jun. 30, 2015
Earnings Per Share [Abstract]
Schedule of reconciliation of income (numerator) and shares (denominator) used in computation of diluted earnings per share	The following table reconciles income (numerator) and shares (denominator) used in our computations of basic and diluted earnings per share for the periods presented (in thousands): Three Months Ended Six Months Ended 2015 2014 2015 2014 Income (Numerator) Net Income $ 46,399 $ 41,601 $ 71,235 $ 69,258 Net (income) loss attributable to noncontrolling interests (612 ) (266 ) (1,166 ) (765 ) Numerator for diluted earnings per common share available to common shareholders $ 45,787 $ 41,335 $ 70,069 $ 68,493 Shares (Denominator) Weighted-average common shares outstanding 95,307 97,174 95,219 97,994 Dilutive effect of stock-settled appreciation rights, restricted stock awards and outstanding stock options 743 690 692 684 Weighted-average common and common equivalent shares outstanding 96,050 97,864 95,911 98,678

SEGMENT DATA (Tables)

SEGMENT DATA (Tables)	6 Months Ended
	Jun. 30, 2015
Segment Reporting [Abstract]
Schedule of segment financial information	Segment financial information is included in the following tables for the periods presented (in thousands): For the three months ended June 30, 2015 Broadcast Other Operating Divisions Corporate Consolidated Revenue $ 532,711 $ 21,456 $ — $ 554,167 Depreciation of property and equipment 24,341 653 279 25,273 Amortization of definite-lived intangible assets and other assets 37,232 2,213 — 39,445 Amortization of program contract costs and net realizable value adjustments 29,782 — — 29,782 General and administrative overhead expenses 11,303 1,265 1,586 14,154 Operating income (loss) 119,801 642 (6,103 ) 114,340 Interest expense — 1,161 46,503 47,664 Income from equity and cost method investments — 2,007 — 2,007 Assets 4,845,685 379,867 155,429 5,380,981 For the three months ended June 30, 2014 Broadcast Other Operating Divisions Corporate Consolidated Revenue $ 437,487 $ 17,649 $ — $ 455,136 Depreciation of property and equipment 24,422 563 267 25,252 Amortization of definite-lived intangible assets and other assets 23,351 1,638 — 24,989 Amortization of program contract costs and net realizable value adjustments 23,574 — — 23,574 General and administrative overhead expenses 14,253 416 1,151 15,820 Operating income (loss) 105,460 580 (3,001 ) 103,039 Interest expense — 1,031 39,090 40,121 Income from equity and cost method investments — 742 — 742 For the six months ended June 30, 2015 Broadcast Other Operating Divisions Corporate Consolidated Revenue $ 1,017,833 $ 41,109 $ — $ 1,058,942 Depreciation of property and equipment 48,525 1,379 558 50,462 Amortization of definite-lived intangible assets and other assets 75,123 4,302 — 79,425 Amortization of program contract costs and net realizable value adjustments 60,173 — — 60,173 General and administrative overhead expenses 26,208 1,524 2,438 30,170 Operating income (loss) 207,249 1,386 (9,748 ) 198,887 Interest expense — 2,236 92,076 94,312 Income from equity and cost method investments — 5,153 — 5,153 Assets 4,845,685 379,867 155,429 5,380,981 For the six months ended June 30, 2014 Broadcast Other Operating Divisions Corporate Consolidated Revenue $ 835,393 $ 32,391 $ — $ 867,784 Depreciation of property and equipment 47,939 1,157 534 49,630 Amortization of definite-lived intangible assets and other assets 46,514 3,203 — 49,717 Amortization of program contract costs and net realizable value adjustments 47,515 — — 47,515 General and administrative overhead expenses 28,982 668 2,005 31,655 Operating income (loss) 187,580 581 (4,122 ) 184,039 Interest expense — 1,950 77,709 79,659 Income from equity and cost method investments — 840 — 840

FAIR VALUE MEASUREMENTS_ (Table

FAIR VALUE MEASUREMENTS: (Tables)	6 Months Ended
	Jun. 30, 2015
Fair Value Disclosures [Abstract]
Schedule of carrying value and fair value of notes and debentures	The carrying value and fair value of our notes and debentures for the periods presented (in thousands): As of June 30, 2015 As of December 31, 2014 Carrying Value Fair Value Carrying Value Fair Value Level 2: 6.375% Senior Unsecured Notes due 2021 $ 350,000 $ 363,909 $ 350,000 $ 355,800 6.125% Senior Unsecured Notes due 2022 500,000 513,750 500,000 503,475 5.625% Senior Unsecured Notes due 2024 550,000 544,500 550,000 532,813 5.375% Senior Unsecured Notes due 2021 600,000 605,490 600,000 595,068 Term Loan A 331,995 328,884 348,073 341,982 Term Loan B 1,386,626 1,381,122 1,035,883 1,029,997 Revolving credit facility — — 338,000 338,000 Debt of variable interest entities 28,425 28,425 30,167 30,167 Debt of other operating divisions 133,674 133,674 118,822 118,822

CONDENSED CONSOLIDATING FINAN27

CONDENSED CONSOLIDATING FINANCIAL STATEMENTS (Tables)	6 Months Ended
	Jun. 30, 2015
Condensed Financial Information of Parent Company Only Disclosure [Abstract]
Schedule of condensed consolidating balance sheet	CONDENSED CONSOLIDATING BALANCE SHEET AS OF JUNE 30, 2015 (in thousands) (unaudited) Sinclair Sinclair Guarantor Non- Eliminations Sinclair Cash $ — $ 49,400 $ 1,068 $ 14,111 $ — $ 64,579 Accounts and other receivables — — 356,389 29,418 (1,237 ) 384,570 Other current assets 2,456 15,466 63,074 22,866 (9,212 ) 94,650 Total current assets 2,456 64,866 420,531 66,395 (10,449 ) 543,799 Property and equipment, net 3,416 21,783 551,889 172,701 (7,935 ) 741,854 Assets held for sale — — 1,843 — — 1,843 Investment in consolidated subsidiaries 438,600 3,476,007 4,079 — (3,918,686 ) — Goodwill — — 1,947,027 4,275 — 1,951,302 Broadcast licenses — — 113,955 16,960 — 130,915 Definite-lived intangible assets — — 1,659,249 197,479 (63,809 ) 1,792,919 Other long-term assets 59,027 636,526 115,999 151,204 (744,407 ) 218,349 Total assets $ 503,499 $ 4,199,182 $ 4,814,572 $ 609,014 $ (4,745,286 ) $ 5,380,981 Accounts payable and accrued liabilities $ 161 $ 42,461 $ 181,306 $ 26,381 $ (14,070 ) $ 236,239 Current portion of long-term debt 217 49,547 1,437 10,734 — 61,935 Current portion of affiliate long-term debt 1,556 — 1,136 1,409 (1,220 ) 2,881 Other current liabilities 1,208 — 87,741 8,362 (1,485 ) 95,826 Total current liabilities 3,142 92,008 271,620 46,886 (16,775 ) 396,881 Long-term debt — 3,623,777 33,592 150,716 — 3,808,085 Affiliate long-term debt 2,700 — 12,216 358,791 (356,932 ) 16,775 Other liabilities 28,598 29,278 1,019,773 170,322 (534,990 ) 712,981 Total liabilities 34,440 3,745,063 1,337,201 726,715 (908,697 ) 4,934,722 Total Sinclair Broadcast Group equity (deficit) 469,059 454,119 3,477,371 (90,747 ) (3,840,743 ) 469,059 Noncontrolling interests in consolidated subsidiaries — — — (26,954 ) 4,154 (22,800 ) Total liabilities and equity (deficit) $ 503,499 $ 4,199,182 $ 4,814,572 $ 609,014 $ (4,745,286 ) $ 5,380,981 CONDENSED CONSOLIDATING BALANCE SHEET AS OF DECEMBER 31, 2014 (in thousands) Sinclair Sinclair Guarantor Non- Eliminations Sinclair Cash $ — $ 3,394 $ 1,749 $ 12,539 $ — $ 17,682 Accounts and other receivables — 164 359,486 25,111 (1,258 ) 383,503 Other current assets 5,741 12,996 98,751 12,721 (11,733 ) 118,476 Assets held for sale — — — 6,504 — 6,504 Total current assets 5,741 16,554 459,986 56,875 (12,991 ) 526,165 Property and equipment, net 3,949 17,554 569,372 168,762 (7,099 ) 752,538 Assets held for sale — — 1,843 6,974 — 8,817 Investment in consolidated subsidiaries 395,225 3,585,037 3,978 — (3,984,240 ) — Goodwill — — 1,963,254 1,299 — 1,964,553 Broadcast Licenses — — 118,115 16,960 — 135,075 Definite-lived intangible assets — — 1,698,919 184,441 (65,097 ) 1,818,263 Other long-term assets 65,988 555,877 132,611 121,273 (670,832 ) 204,917 Total assets $ 470,903 $ 4,175,022 $ 4,948,078 $ 556,584 $ (4,740,259 ) $ 5,410,328 Accounts payable and accrued liabilities $ 541 $ 46,083 $ 201,102 $ 24,325 $ (13,680 ) $ 258,371 Current portion of long-term debt 529 42,953 1,302 68,332 — 113,116 Current portion of affiliate long-term debt 1,464 — 1,182 1,026 (1,047 ) 2,625 Other current liabilities 1,208 — 107,867 9,749 (1,407 ) 117,417 Liabilities held for sale — — — 2,477 — 2,477 Total current liabilities 3,742 89,036 311,453 105,909 (16,134 ) 494,006 Long-term debt — 3,638,286 34,338 82,198 — 3,754,822 Affiliate long-term debt 3,508 — 12,802 319,901 (319,902 ) 16,309 Other liabilities 35,771 28,856 1,003,213 169,935 (497,927 ) 739,848 Total liabilities 43,021 3,756,178 1,361,806 677,943 (833,963 ) 5,004,985 Total Sinclair Broadcast Group equity (deficit) 427,882 418,844 3,586,272 (94,632 ) (3,910,484 ) 427,882 Noncontrolling interests in consolidated subsidiaries — — — (26,727 ) 4,188 (22,539 ) Total liabilities and equity (deficit) $ 470,903 $ 4,175,022 $ 4,948,078 $ 556,584 $ (4,740,259 ) $ 5,410,328
Schedule of condensed consolidating statement of operations and comprehensive income	CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME FOR THE THREE MONTHS ENDED JUNE 30, 2015 (in thousands) (unaudited) Sinclair Sinclair Guarantor Non- Eliminations Sinclair Net revenue $ — $ — $ 522,405 $ 52,908 $ (21,146 ) $ 554,167 Program and production — — 180,033 20,550 (19,495 ) 181,088 Selling, general and administrative 1,457 11,429 100,579 3,683 (193 ) 116,955 Depreciation, amortization and other operating expenses 266 809 109,201 32,135 (627 ) 141,784 Total operating expenses 1,723 12,238 389,813 56,368 (20,315 ) 439,827 Operating (loss) income (1,723 ) (12,238 ) 132,592 (3,460 ) (831 ) 114,340 Equity in earnings of consolidated subsidiaries 46,369 85,483 (50 ) — (131,802 ) — Interest expense (106 ) (44,969 ) (1,165 ) (7,470 ) 6,046 (47,664 ) Other income (expense) 944 444 203 1,466 — 3,057 Total other income (expense) 47,207 40,958 (1,012 ) (6,004 ) (125,756 ) (44,607 ) Income tax benefit (provision) 303 19,584 (44,899 ) 1,678 — (23,334 ) Net income (loss) 45,787 48,304 86,681 (7,786 ) (126,587 ) 46,399 Net income attributable to the noncontrolling interests — — — (646 ) 34 (612 ) Net income (loss) attributable to Sinclair Broadcast Group $ 45,787 $ 48,304 $ 86,681 $ (8,432 ) $ (126,553 ) $ 45,787 Comprehensive income (loss) $ 46,483 $ 48,315 $ 86,756 $ (7,786 ) $ (127,285 ) $ 46,483 CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME FOR THE THREE MONTHS ENDED JUNE 30, 2014 (in thousands) (unaudited) Sinclair Sinclair Guarantor Non- Eliminations Sinclair Net revenue $ — $ — $ 430,334 $ 47,527 $ (22,725 ) $ 455,136 Program and production — 114 133,440 21,492 (20,743 ) 134,303 Selling, general and administrative 1,155 14,000 80,324 3,511 (575 ) 98,415 Depreciation, amortization and other operating expenses 267 1,138 93,889 24,805 (720 ) 119,379 Total operating expenses 1,422 15,252 307,653 49,808 (22,038 ) 352,097 Operating (loss) income (1,422 ) (15,252 ) 122,681 (2,281 ) (687 ) 103,039 Equity in earnings of consolidated subsidiaries 42,662 75,388 — — (118,050 ) — Interest expense (149 ) (37,082 ) (1,224 ) (6,974 ) 5,308 (40,121 ) Other income (expense) 941 86 465 285 (20 ) 1,757 Total other income (expense) 43,454 38,392 (759 ) (6,689 ) (112,762 ) (38,364 ) Income tax benefit (provision) (697 ) 19,209 (43,691 ) 2,105 — (23,074 ) Net income (loss) 41,335 42,349 78,231 (6,865 ) (113,449 ) 41,601 Net income attributable to the noncontrolling interests — — — (299 ) 33 (266 ) Net income (loss) attributable to Sinclair Broadcast Group $ 41,335 $ 42,349 $ 78,231 $ (7,164 ) $ (113,416 ) $ 41,335 Comprehensive income (loss) $ 42,247 $ 42,515 $ 78,231 $ (5,887 ) $ (114,859 ) $ 42,247 CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME FOR THE SIX MONTHS ENDED JUNE 30, 2015 (in thousands) (unaudited) Sinclair Sinclair Guarantor Non- Eliminations Sinclair Net revenue $ — $ — $ 999,076 $ 99,912 $ (40,046 ) $ 1,058,942 Program and production — — 349,727 40,399 (38,023 ) 352,103 Selling, general and administrative 2,501 26,212 199,927 6,323 (105 ) 234,858 Depreciation, amortization and other operating expenses 533 1,584 211,560 60,385 (968 ) 273,094 Total operating expenses 3,034 27,796 761,214 107,107 (39,096 ) 860,055 Operating (loss) income (3,034 ) (27,796 ) 237,862 (7,195 ) (950 ) 198,887 Equity in earnings of consolidated subsidiaries 70,693 149,948 (100 ) — (220,541 ) — Interest expense (207 ) (88,842 ) (2,341 ) (14,176 ) 11,254 (94,312 ) Other income (expense) 2,294 291 266 3,570 — 6,421 Total other income (expense) 72,780 61,397 (2,175 ) (10,606 ) (209,287 ) (87,891 ) Income tax benefit (provision) 323 40,199 (83,277 ) 2,994 — (39,761 ) Net income (loss) 70,069 73,800 152,410 (14,807 ) (210,237 ) 71,235 Net income attributable to the noncontrolling interests — — — (1,200 ) 34 (1,166 ) Net income (loss) attributable to Sinclair Broadcast Group $ 70,069 $ 73,800 $ 152,410 $ (16,007 ) $ (210,203 ) $ 70,069 Comprehensive income (loss) $ 71,403 $ 73,817 $ 152,561 $ (14,807 ) $ (211,571 ) $ 71,403
Schedule of condensed consolidating statement of cash flows	CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS FOR THE SIX MONTHS ENDED JUNE 30, 2015 (in thousands) (unaudited) Sinclair Sinclair Guarantor Non- Eliminations Sinclair NET CASH FLOWS (USED IN) FROM OPERATING ACTIVITIES $ (142 ) $ (70,337 ) $ 265,762 $ (24,664 ) $ 7,397 $ 178,016 CASH FLOWS (USED IN) FROM INVESTING ACTIVITIES: Acquisition of property and equipment — (5,852 ) (40,875 ) (1,097 ) 762 (47,062 ) Purchase of alarm monitoring contracts — — — (16,673 ) — (16,673 ) Distributions from equity and costs method investees 3,486 500 — 4,182 — 8,168 Investments in equity and cost method investees — (4,401 ) (33 ) (33,375 ) — (37,809 ) Other, net — (1,461 ) 4,788 156 — 3,483 Net cash flows (used in) from investing activities 3,486 (11,214 ) (36,120 ) (46,807 ) 762 (89,893 ) CASH FLOWS FROM (USED IN) FINANCING ACTIVITIES: Proceeds from notes payable, commercial bank financing and capital leases — 349,562 — 15,291 — 364,853 Repayments of notes payable, commercial bank financing and capital leases (312 ) (357,328 ) (611 ) (2,229 ) — (360,480 ) Dividends paid on Class A and Class B Common Stock (31,464 ) — — — — (31,464 ) Repurchase of outstanding Class A Common Stock (7,803 ) — — — — (7,803 ) Increase (decrease) in intercompany payables 37,036 138,814 (230,262 ) 62,571 (8,159 ) — Other, net (801 ) (3,491 ) 550 (2,590 ) — (6,332 ) Net cash flows (used in) from financing activities (3,344 ) 127,557 (230,323 ) 73,043 (8,159 ) (41,226 ) NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS — 46,006 (681 ) 1,572 — 46,897 CASH AND CASH EQUIVALENTS, beginning of period — 3,394 1,749 12,539 — 17,682 CASH AND CASH EQUIVALENTS, end of period $ — $ 49,400 $ 1,068 $ 14,111 $ — $ 64,579 CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS FOR THE SIX MONTHS ENDED JUNE 30, 2014 (in thousands) (unaudited) Sinclair Sinclair Guarantor Non- Eliminations Sinclair NET CASH FLOWS (USED IN) FROM OPERATING ACTIVITIES $ (2,354 ) $ (73,198 ) $ 232,107 $ 19,126 $ 4,303 $ 179,984 CASH FLOWS (USED IN) FROM INVESTING ACTIVITIES: Acquisition of property and equipment — (2,935 ) (21,993 ) (1,659 ) — (26,587 ) Purchase of alarm monitoring contracts — — — (7,835 ) — (7,835 ) Decrease in restricted cash — (900 ) 217 — — (683 ) Investments in equity and cost method investees — — — (6,167 ) — (6,167 ) Payments for acquisition of assets in other operating divisions — — — (8,273 ) — (8,273 ) Proceeds from termination of life insurance policies — 17,042 — — — 17,042 Other, net 1,000 — 264 (67 ) — 1,197 Net cash flows (used in) from investing activities 1,000 13,207 (21,512 ) (24,001 ) — (31,306 ) CASH FLOWS FROM (USED IN) FINANCING ACTIVITIES: Proceeds from notes payable, commercial bank financing and capital leases — 91,796 — 10,928 — 102,724 Repayments of notes payable, commercial bank financing and capital leases (268 ) (17,056 ) (482 ) (3,308 ) — (21,114 ) Dividends paid on Class A and Class B Common Stock (29,284 ) — — — — (29,284 ) Repurchase of outstanding Class A Common Stock (82,371 ) — — — — (82,371 ) Increase (decrease) in intercompany payables 111,767 130,501 (238,219 ) 254 (4,303 ) — Other, net 1,510 (235 ) — (4,466 ) — (3,191 ) Net cash flows (used in) from financing activities 1,354 205,006 (238,701 ) 3,408 (4,303 ) (33,236 ) NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS — 145,015 (28,106 ) (1,467 ) — 115,442 CASH AND CASH EQUIVALENTS, beginning of period — 237,974 28,594 13,536 — 280,104 CASH AND CASH EQUIVALENTS, end of period $ — $ 382,989 $ 488 $ 12,069 $ — $ 395,546

SUMMARY OF SIGNIFICANT ACCOUN28

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Additional Information (Details) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2015USD ($)	Jun. 30, 2014USD ($)	Jun. 30, 2015USD ($)licenseshares	Jun. 30, 2014USD ($)	Dec. 31, 2014USD ($)license	Mar. 20, 2014USD ($)	Oct. 28, 1999USD ($)
Variable Interest Entities
Net revenues	$ 502,338	$ 404,151	$ 966,501	$ 778,032
Income from equity and cost method investments	2,007	742	$ 5,153	840
Decrease in accounts payable					$ 41,800
Share Repurchase Program
Share repurchase program, authorized amount						$ 150,000	$ 150,000
Number of shares repurchased | shares			300
Value of shares repurchased			$ 7,803	82,371
Total remaining authorization amount	126,600		$ 126,600
Consolidated VIEs, aggregated
Variable Interest Entities
Initial term of certain outsourcing agreements			5 years
Number of licensees as VIEs | license			37		37
Net revenues	71,800	71,800	$ 136,600	138,200
Consolidated VIEs | Eliminations
Variable Interest Entities
Liabilities associated with the certain outsourcing agreements and purchase options	78,900		78,900		$ 78,100
Consolidated VIEs | Eliminations | Cunningham
Variable Interest Entities
Total payments made under the LMA excluded from liabilities	36,000		36,000		34,400
Total capital leased liabilities excluded from VIE consolidation	4,300		4,300		4,300
VIEs which are not primary beneficiary
Variable Interest Entities
Carrying amount	19,300		19,300		$ 22,700
Income from equity and cost method investments	$ 2,600	$ 700	$ 5,500	$ 900

SUMMARY OF SIGNIFICANT ACCOUN29

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Schedule of Variable Interest Entities Assets and Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014	Jun. 30, 2014	Dec. 31, 2013
CURRENT ASSETS:
Cash and cash equivalents	$ 64,579	$ 17,682	$ 395,546	$ 280,104
Accounts receivable	384,570	383,503
Current portion of program contract costs	44,538	88,198
Prepaid expenses and other current assets	41,661	21,338
Total current assets	543,799	526,165
PROGRAM CONTRACT COSTS, less current portion	24,013	38,531
PROPERTY AND EQUIPMENT, net	741,854	752,538
GOODWILL	1,951,302	1,964,553
BROADCAST LICENSES	130,915	135,075
DEFINITE-LIVED INTANGIBLE ASSETS, net	1,792,919	1,818,263
OTHER ASSETS	192,836	166,386
Total assets	5,380,981	5,410,328
CURRENT LIABILITIES:
Accounts payable	17,844	12,248
Accrued liabilities	218,395	246,123
Current portion of notes payable, capital leases and commercial bank financing	61,935	113,116
Current portion of program contracts payable	62,311	104,922
Total current liabilities	396,881	494,006
LONG-TERM LIABILITIES:
Notes payable, capital leases and commercial bank financing, less current portion	3,808,085	3,754,822
Program contracts payable, less current portion	49,586	60,605
Total liabilities	4,934,722	5,004,985
Consolidated VIEs, aggregated
CURRENT ASSETS:
Cash and cash equivalents	490	491
Accounts receivable	19,307	19,521
Current portion of program contract costs	8,570	9,544
Prepaid expenses and other current assets	435	297
Total current assets	28,802	29,853
PROGRAM CONTRACT COSTS, less current portion	4,866	6,922
PROPERTY AND EQUIPMENT, net	9,012	9,716
GOODWILL	787	787
BROADCAST LICENSES	16,960	16,935
DEFINITE-LIVED INTANGIBLE ASSETS, net	87,974	96,732
OTHER ASSETS	6,924	2,376
Total assets	155,325	163,321
CURRENT LIABILITIES:
Accounts payable	39	68
Accrued liabilities	1,431	1,297
Current portion of notes payable, capital leases and commercial bank financing	3,673	3,659
Current portion of program contracts payable	8,172	9,714
Total current liabilities	13,315	14,738
LONG-TERM LIABILITIES:
Notes payable, capital leases and commercial bank financing, less current portion	26,321	28,640
Program contracts payable, less current portion	10,520	10,161
Long term liabilities	8,670	8,739
Total liabilities	$ 58,826	$ 62,278

SUMMARY OF SIGNIFICANT ACCOUN30

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Income Taxes (Details) $ in Millions	6 Months Ended
	Jun. 30, 2015USD ($)
Maximum
Income taxes
Reduction in liability for unrecognized tax benefits related to continuing operations	$ 5.7

ACQUISITIONS - Additional Infor

ACQUISITIONS - Additional Information (Details) $ in Thousands	Dec. 19, 2014USD ($)stationmarket	Nov. 01, 2014USD ($)	Aug. 01, 2014USD ($)stationmarket	Jun. 30, 2015USD ($)	Jun. 30, 2014USD ($)	Jun. 30, 2015USD ($)	Jun. 30, 2014USD ($)	Dec. 31, 2014USD ($)stationmarket
Acquisitions
Property and equipment				$ (741,854)		$ (741,854)		$ (752,538)
Depreciation				(25,273)	$ (25,252)	(50,462)	$ (49,630)
Costs incurred in corporate, general and administrative expenses							$ 2,000
2014 Acquisitions
Acquisitions
Number of television stations | station								21
Number of markets | market								15
Cash paid								$ 1,434,500
Working capital adjustment								$ 47,200
Property and equipment				$ 12,500		12,500
Decrease Broadcast licenses						4,100
Increase finite-lived intangible assets						33,000
Decrease Goodwill						16,300
Depreciation						600
Amortization						$ 300
Allbritton
Acquisitions
Number of television stations | station			9
Number of markets | market			7
Cash paid			$ 985,000
Working capital adjustment			$ 50,100
Interest rate (as a percent)			5.625%
MEG Stations
Acquisitions
Number of television stations | station	4
Number of markets | market	3
Cash paid	$ 207,500
Working capital adjustment	$ 1,600
KSNV
Acquisitions
Cash paid		$ 118,500
Working capital adjustment		$ 200
Other
Acquisitions
Number of television stations | station								8
Number of markets | market								4
Cash paid								$ 123,500
Working capital adjustment								$ 1,100
Network affiliations | Barrington Broadcasting Company L L C
Acquisitions
Amortization period								15 years
Decaying advertiser base | Barrington Broadcasting Company L L C | Minimum
Acquisitions
Amortization period								10 years
Decaying advertiser base | Barrington Broadcasting Company L L C | Maximum
Acquisitions
Amortization period								15 years
Other intangible assets | Minimum
Acquisitions
Weighted-average useful life subject to amortization acquired								14 years
Other intangible assets | Maximum
Acquisitions
Weighted-average useful life subject to amortization acquired								16 years

ACQUISITIONS - Fair Value of Ac

ACQUISITIONS - Fair Value of Acquired Assets and Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Allocated fair value of acquired assets and assumed liabilities
Goodwill	$ 1,951,302	$ 1,964,553
MEG Stations
Allocated fair value of acquired assets and assumed liabilities
Accounts receivable		0
Prepaid expenses and other current assets		476
Program contract costs		1,954
Property and equipment		23,462
Broadcast licenses		100
Definite-lived intangible assets		125,200
Other assets		0
Assets held for sale		0
Accounts payable and accrued liabilities		(2,085)
Program contracts payable		(1,914)
Deferred tax liability		0
Other long term liabilities		0
Fair value of identifiable net assets acquired		147,193
Goodwill		58,698
Total		205,891
KSNV
Allocated fair value of acquired assets and assumed liabilities
Accounts receivable		0
Prepaid expenses and other current assets		67
Program contract costs		482
Property and equipment		8,300
Broadcast licenses		0
Definite-lived intangible assets		62,700
Other assets		0
Assets held for sale		0
Accounts payable and accrued liabilities		(277)
Program contracts payable		(481)
Deferred tax liability		0
Other long term liabilities		(1,200)
Fair value of identifiable net assets acquired		69,591
Goodwill		48,699
Total		118,290
Allbritton
Allocated fair value of acquired assets and assumed liabilities
Accounts receivable		38,542
Prepaid expenses and other current assets		19,890
Program contract costs		1,204
Property and equipment		46,600
Broadcast licenses		13,700
Definite-lived intangible assets		564,100
Other assets		20,352
Assets held for sale		83,200
Accounts payable and accrued liabilities		(8,351)
Program contracts payable		(1,140)
Deferred tax liability		(261,291)
Other long term liabilities		(17,263)
Fair value of identifiable net assets acquired		499,543
Goodwill		535,694
Total		1,035,237
Other
Allocated fair value of acquired assets and assumed liabilities
Accounts receivable		0
Prepaid expenses and other current assets		79
Program contract costs		2,561
Property and equipment		8,400
Broadcast licenses		125
Definite-lived intangible assets		71,025
Other assets		1,500
Assets held for sale		0
Accounts payable and accrued liabilities		(1,143)
Program contracts payable		(2,554)
Deferred tax liability		0
Other long term liabilities		0
Fair value of identifiable net assets acquired		79,993
Goodwill		42,443
Total		122,436
2014 Acquisitions
Allocated fair value of acquired assets and assumed liabilities
Accounts receivable		38,542
Prepaid expenses and other current assets		20,512
Program contract costs		6,201
Property and equipment		86,762
Broadcast licenses		13,925
Definite-lived intangible assets		823,025
Other assets		21,852
Assets held for sale		83,200
Accounts payable and accrued liabilities		(11,856)
Program contracts payable		(6,089)
Deferred tax liability		(261,291)
Other long term liabilities		(18,463)
Fair value of identifiable net assets acquired		796,320
Goodwill		685,534
Total		$ 1,481,854

ACQUISITIONS - Fair Value Alloc

ACQUISITIONS - Fair Value Allocation of Assets and Goodwill (Details) $ in Thousands	Dec. 31, 2014USD ($)
2014 Acquisitions
Acquisitions
Fair value of identifiable definite-lived intangible assets acquired	$ 823,025
Estimated goodwill deductible for tax purposes	149,840
2014 Acquisitions | Network affiliations
Acquisitions
Fair value of identifiable definite-lived intangible assets acquired	498,600
2014 Acquisitions | Customer relationships
Acquisitions
Fair value of identifiable definite-lived intangible assets acquired	299,925
2014 Acquisitions | Other intangible assets
Acquisitions
Fair value of identifiable definite-lived intangible assets acquired	24,500
MEG Stations
Acquisitions
Fair value of identifiable definite-lived intangible assets acquired	125,200
Estimated goodwill deductible for tax purposes	58,698
MEG Stations | Network affiliations
Acquisitions
Fair value of identifiable definite-lived intangible assets acquired	54,300
MEG Stations | Customer relationships
Acquisitions
Fair value of identifiable definite-lived intangible assets acquired	47,400
MEG Stations | Other intangible assets
Acquisitions
Fair value of identifiable definite-lived intangible assets acquired	23,500
KSNV
Acquisitions
Fair value of identifiable definite-lived intangible assets acquired	62,700
Estimated goodwill deductible for tax purposes	48,699
KSNV | Network affiliations
Acquisitions
Fair value of identifiable definite-lived intangible assets acquired	44,775
KSNV | Customer relationships
Acquisitions
Fair value of identifiable definite-lived intangible assets acquired	17,925
KSNV | Other intangible assets
Acquisitions
Fair value of identifiable definite-lived intangible assets acquired	0
Allbritton
Acquisitions
Fair value of identifiable definite-lived intangible assets acquired	564,100
Estimated goodwill deductible for tax purposes	0
Allbritton | Network affiliations
Acquisitions
Fair value of identifiable definite-lived intangible assets acquired	356,900
Allbritton | Customer relationships
Acquisitions
Fair value of identifiable definite-lived intangible assets acquired	207,200
Allbritton | Other intangible assets
Acquisitions
Fair value of identifiable definite-lived intangible assets acquired	0
Other
Acquisitions
Fair value of identifiable definite-lived intangible assets acquired	71,025
Estimated goodwill deductible for tax purposes	42,443
Other | Network affiliations
Acquisitions
Fair value of identifiable definite-lived intangible assets acquired	42,625
Other | Customer relationships
Acquisitions
Fair value of identifiable definite-lived intangible assets acquired	27,400
Other | Other intangible assets
Acquisitions
Fair value of identifiable definite-lived intangible assets acquired	$ 1,000

ACQUISITIONS - Pro Forma Result

ACQUISITIONS - Pro Forma Results (Details) - Jun. 30, 2014 - USD ($) $ / shares in Units, $ in Thousands	Total	Total
Pro Forma Information
Total revenues	$ 528,490	$ 1,000,920
Net Income	40,361	67,817
Net Income attributable to Sinclair Broadcast Group	$ 40,095	$ 67,052
Basic earnings per share attributable to Sinclair Broadcast Group	$ 0.41	$ 0.68
Diluted earnings per share attributable to Sinclair Broadcast Group	$ 0.41	$ 0.68

DISPOSITION OF ASSETS -Addition

DISPOSITION OF ASSETS -Additional Information (Details) - USD ($) $ in Millions	Dec. 31, 2014	Sep. 30, 2014	Aug. 01, 2014
Allbritton
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Working capital adjustment			$ 50.1
MEG Stations | WTTA & KXRM And KXTU
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Price of assets sold	$ 93.1
Working capital adjustment	$ 0.6
MEG Stations | Allbritton | WHTM
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Price of assets sold		$ 83.4
Working capital adjustment		$ 0.2
Cunningham | Allbritton | WTAT
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Price of assets sold			$ 14

DISPOSITION OF ASSETS - Assets

DISPOSITION OF ASSETS - Assets and Liabilities Held for Sale (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Assets:
Accounts receivable		$ 5,101
Prepaid expenses and other current assets		1,403
Total current assets held for sale	$ 0	6,504
Property and equipment		1,036
Goodwill		2,975
Definite-lived intangible assets		2,962
Total assets held for sale		13,477
Liabilities:
Accounts payable		1,096
Accrued liabilities		1,360
Current portion of notes payable, capital leases and commercial bank financing		21
Total liabilities held for sale		2,477
Non License Broadcast Assets
Assets:
Property and equipment	$ 1,800	$ 1,800

GOODWILL, BROADCAST LICENCES 37

GOODWILL, BROADCAST LICENCES AND OTHER INTANGIBLE ASSETS - Change in Carrying Amount of Goodwill (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2015	Dec. 31, 2014
Goodwill [Line Items]
Goodwill, gross	$ 2,364,875	$ 2,378,126
Accumulated impairment losses	(413,573)	(413,573)
Goodwill [Roll Forward]
Goodwill	1,964,553
Goodwill adjustment		(16,226)
Change is assets held for sale		2,975
Goodwill	1,951,302	1,964,553
Other operating divisions segment
Goodwill [Line Items]
Goodwill, gross	3,488	513
Accumulated impairment losses	0	0
Goodwill [Roll Forward]
Goodwill	513
Goodwill adjustment		0
Change is assets held for sale		2,975
Goodwill	3,488	513
Broadcast
Goodwill [Line Items]
Goodwill, gross	2,361,387	2,377,613
Accumulated impairment losses	(413,573)	(413,573)
Goodwill [Roll Forward]
Goodwill	1,964,040
Goodwill adjustment		(16,226)
Change is assets held for sale		0
Goodwill	$ 1,947,814	$ 1,964,040

GOODWILL, BROADCAST LICENCES 38

GOODWILL, BROADCAST LICENCES AND OTHER INTANGIBLE ASSETS - Broadcast Licenses (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2015	Dec. 31, 2014
Indefinite-lived Intangible Assets [Roll Forward]
Measurement period adjustments related to 2014 acquisitions (a)		$ 16,226
Broadcast Rights
Indefinite-lived Intangible Assets [Roll Forward]
Broadcast licenses, beginning balance	$ 135,075
Sale of broadcast assets	(75)
Measurement period adjustments related to 2014 acquisitions (a)	(4,085)
Broadcast licenses, ending balance	$ 130,915	$ 135,075

GOODWILL, BROADCAST LICENCES 39

GOODWILL, BROADCAST LICENCES AND OTHER INTANGIBLE ASSETS - Definite Lived Intangible Assets (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2015	Dec. 31, 2014
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	$ 2,371,029	$ 2,320,526
Accumulated Amortization	(578,110)	(502,263)
Net finite-lived intangible assets	1,792,919	1,818,263
Network affiliations
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	1,388,691	1,396,792
Accumulated Amortization	(303,590)	(257,526)
Net finite-lived intangible assets	1,085,101	1,139,266
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	766,979	749,292
Accumulated Amortization	(199,687)	(177,453)
Net finite-lived intangible assets	567,292	571,839
Other intangible assets
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	215,359	174,442
Accumulated Amortization	(74,833)	(67,284)
Net finite-lived intangible assets	140,526	$ 107,158
Intangible asset additions	$ 16,700

NOTES PAYABLE AND COMMERCIAL 40

NOTES PAYABLE AND COMMERCIAL BANK FINANCINGS (Details) - USD ($) $ in Millions	Apr. 30, 2015	Jun. 30, 2015
Notes Payable And Commercial Bank Financing
Long-term debt outstanding		$ 3,889.7
Medium-term Notes [Member] | Term Loan A
Notes Payable And Commercial Bank Financing
Long-term debt outstanding		329.7
Deferred finance costs and debt discounts		2.3
Medium-term Notes [Member] | Term Loan B
Notes Payable And Commercial Bank Financing
Long-term debt outstanding		1,370.3
Deferred finance costs and debt discounts		$ 16.4
Bank Credit Agreement | Term Loan B
Notes Payable And Commercial Bank Financing
Additional debt commitment	$ 350
Financing costs	$ 3.6
Bank Credit Agreement | Term Loan B | LIBOR
Notes Payable And Commercial Bank Financing
Interest rate margin (as a percent)	2.75%
LIBOR floor (as a percent)	0.75%
Bank Credit Agreement | Revolving credit facility
Notes Payable And Commercial Bank Financing
Current borrowing capacity	$ 482.9

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015USD ($)waiver	Jun. 30, 2014USD ($)	Jun. 30, 2015USD ($)waiver	Jun. 30, 2014USD ($)	Mar. 12, 2015station	Apr. 15, 2014station
COMMITMENTS AND CONTINGENCIES
Number of television stations in the same market entering into an agreement					2
Number of television stations with attributable interest						1
Percentage of ad time to be considered an owner						15.00%
Number of waivers sought | waiver	1		1
Revenue | $	$ 554,167	$ 455,136	$ 1,058,942	$ 867,784
JSA
COMMITMENTS AND CONTINGENCIES
Revenue | $	$ 11,800	$ 11,500	$ 22,700	$ 22,100

EARNINGS PER SHARE (Details)

EARNINGS PER SHARE (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Income (Numerator)
Net Income	$ 46,399	$ 41,601	$ 71,235	$ 69,258
Net (income) loss attributable to noncontrolling interests	(612)	(266)	(1,166)	(765)
Numerator for diluted earnings available to common shareholders	$ 45,787	$ 41,335	$ 70,069	$ 68,493
Shares (Denominator)
Weighted average common shares outstanding	95,307,000	97,174,000	95,219,000	97,994,000
Dilutive effect of stock settled appreciation rights, restricted stock awards and outstanding stock options (in shares)	743,000	690,000	692,000	684,000
Weighted-average common and common equivalent shares outstanding	96,050,000	97,864,000	95,911,000	98,678,000
Additional Disclosures
Potentially antidilutive dilutive securities excluded from calculation of diluted earnings per share (in shares)	0	0	0	0

RELATED PERSON TRANSACTIONS (De

RELATED PERSON TRANSACTIONS (Details) $ in Thousands	1 Months Ended	3 Months Ended			6 Months Ended
	Jul. 31, 2014USD ($)	Jun. 30, 2015USD ($)restaurantitem	Jun. 30, 2014USD ($)	Mar. 31, 2013USD ($)	Jun. 30, 2015USD ($)restaurantitem	Jun. 30, 2014USD ($)	Sep. 30, 2014	Aug. 01, 2014USD ($)	Dec. 31, 2012USD ($)	Nov. 05, 2009USD ($)
Related person transactions
Revenue		$ 554,167	$ 455,136		$ 1,058,942	$ 867,784
Entities owned by the controlling shareholders | Leased assets or facilities
Related person transactions
Amount paid		1,200	1,300		2,600	2,800
Controlling shareholders | Maximum | Charter Aircraft
Related person transactions
Aircraft expense		$ 300	300		$ 600	600
Cunningham
Related person transactions
Right to acquire capital stock (as a percent)							100.00%
Price of assets sold										$ 78,500
Price for which nonvoting stock was purchased			2,000	$ 1,700
Annual increase in aggregate purchase price (as a percent)		6.00%			6.00%
Remaining purchase price		$ 53,600			$ 53,600
Revenue		24,100	29,200		45,900	56,400
Cunningham | LMA
Related person transactions
Right to acquire capital stock (as a percent)							100.00%
Amount paid	$ 4,700	$ 2,100	2,100		$ 4,400	5,400
Price of assets sold								$ 14,000
Number of stations to which programming, sales and managerial services were provided by the entity | item					6
Number of additional renewal terms | item					3
Agreement renewal period					5 years
Operating costs reimbursement (as a percent)		100.00%			100.00%
Cunningham | Minimum | LMA
Related person transactions
Percentage of net broadcast revenue used to determine annual LMA fees required to be paid		3.00%			3.00%
Amount used to determine annual LMA fees required to be paid		$ 5,000			$ 5,000
Cunningham | Maximum
Related person transactions
Amount of purchase price reduction from quarterly installments									$ 29,100
Cunningham license related assets
Related person transactions
Agreement renewal period					8 years
Amount of guarantee on the bank debt		2,900			$ 2,900
Revenue		1,900	1,900		3,700	3,400
Amount received		1,000	1,100		2,200	1,900
Atlantic Automotive | Leased assets or facilities
Related person transactions
Annual rent		$ 300	300		$ 600	500
Number of real estate ventures | item		1			1
Atlantic Automotive | Maximum | Advertising time
Related person transactions
Amount received		$ 100	100		$ 200	100
President and Chief Executive Officer | Leased assets or facilities | Real estate ventures in Baltimore, MD
Related person transactions
Number of restaurants owned by a related party | restaurant		3			3
Number of real estate ventures | item		1			1
President and Chief Executive Officer | Leased assets or facilities | Real estate ventures in Towson, MD
Related person transactions
Annual rent		$ 100	100		$ 100	100
Number of restaurants owned by a related party | restaurant		1			1
Number of real estate ventures | item		1			1
President and Chief Executive Officer | Maximum | Leased assets or facilities | Real estate ventures in Baltimore, MD
Related person transactions
Amount received		$ 200	$ 100		$ 300	$ 200

SEGMENT DATA - Additional Infor

SEGMENT DATA - Additional Information (Details) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015USD ($)item	Jun. 30, 2014USD ($)	Jun. 30, 2015USD ($)item	Jun. 30, 2014USD ($)
Segment data
Intercompany loans	$ 225.9	$ 172.2	$ 225.9	$ 172.2
Intercompany interest expense	$ 5.6	$ 5.1	$ 10.8	$ 10
Operating segments | Broadcast
Segment data
Number of markets | item	79		79

SEGMENT DATA - Segment Financia

SEGMENT DATA - Segment Financial Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Segment data
Revenue	$ 554,167	$ 455,136	$ 1,058,942	$ 867,784
Depreciation of property and equipment	25,273	25,252	50,462	49,630
Amortization of definite-lived intangible assets and other assets	39,445	24,989	79,425	49,717
Amortization of program contract costs and net realizable value adjustments	29,782	23,574	60,173	47,515
General and administrative overhead expenses	14,154	15,820	30,170	31,655
Operating income (loss)	114,340	103,039	198,887	184,039
Interest expense	47,664	40,121	94,312	79,659
Income from equity and cost method investments	2,007	742	5,153	840
Assets	5,380,981		5,380,981		$ 5,410,328
Operating segments | Broadcast
Segment data
Revenue	532,711	437,487	1,017,833	835,393
Depreciation of property and equipment	24,341	24,422	48,525	47,939
Amortization of definite-lived intangible assets and other assets	37,232	23,351	75,123	46,514
Amortization of program contract costs and net realizable value adjustments	29,782	23,574	60,173	47,515
General and administrative overhead expenses	11,303	14,253	26,208	28,982
Operating income (loss)	119,801	105,460	207,249	187,580
Interest expense	0	0	0	0
Income from equity and cost method investments	0	0	0	0
Assets	4,845,685		4,845,685
Operating segments | Other operating divisions segment
Segment data
Revenue	21,456	17,649	41,109	32,391
Depreciation of property and equipment	653	563	1,379	1,157
Amortization of definite-lived intangible assets and other assets	2,213	1,638	4,302	3,203
Amortization of program contract costs and net realizable value adjustments	0	0	0	0
General and administrative overhead expenses	1,265	416	1,524	668
Operating income (loss)	642	580	1,386	581
Interest expense	1,161	1,031	2,236	1,950
Income from equity and cost method investments	2,007	742	5,153	840
Assets	379,867		379,867
Corporate
Segment data
Revenue	0	0	0	0
Depreciation of property and equipment	279	267	558	534
Amortization of definite-lived intangible assets and other assets	0	0	0	0
Amortization of program contract costs and net realizable value adjustments	0	0	0	0
General and administrative overhead expenses	1,586	1,151	2,438	2,005
Operating income (loss)	(6,103)	(3,001)	(9,748)	(4,122)
Interest expense	46,503	39,090	92,076	77,709
Income from equity and cost method investments	0	$ 0	0	$ 0
Assets	$ 155,429		$ 155,429

FAIR VALUE MEASUREMENTS (Detail

FAIR VALUE MEASUREMENTS (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
5.375% Senior Unsecured Notes due 2021
FAIR VALUE MEASUREMENTS:
Interest rate (as a percent)	5.375%	5.375%
5.625% Senior Unsecured Notes due 2024
FAIR VALUE MEASUREMENTS:
Interest rate (as a percent)	5.625%	5.625%
6.125% Senior Unsecured Notes due 2022
FAIR VALUE MEASUREMENTS:
Interest rate (as a percent)	6.125%	6.125%
6.375% Senior Unsecured Notes due 2021
FAIR VALUE MEASUREMENTS:
Interest rate (as a percent)	6.375%	6.375%
Level 2 | Carrying Value | Revolving credit facility
FAIR VALUE MEASUREMENTS:
Fair Value	$ 0	$ 338,000
Level 2 | Carrying Value | 5.375% Senior Unsecured Notes due 2021
FAIR VALUE MEASUREMENTS:
Fair Value	600,000	600,000
Level 2 | Carrying Value | 5.625% Senior Unsecured Notes due 2024
FAIR VALUE MEASUREMENTS:
Fair Value	550,000	550,000
Level 2 | Carrying Value | 6.125% Senior Unsecured Notes due 2022
FAIR VALUE MEASUREMENTS:
Fair Value	500,000	500,000
Level 2 | Carrying Value | 6.375% Senior Unsecured Notes due 2021
FAIR VALUE MEASUREMENTS:
Fair Value	350,000	350,000
Level 2 | Carrying Value | Term Loan A
FAIR VALUE MEASUREMENTS:
Fair Value	331,995	348,073
Level 2 | Carrying Value | Term Loan B
FAIR VALUE MEASUREMENTS:
Fair Value	1,386,626	1,035,883
Level 2 | Carrying Value | Debt of variable interest entities
FAIR VALUE MEASUREMENTS:
Fair Value	28,425	30,167
Level 2 | Carrying Value | Debt of other operating divisions
FAIR VALUE MEASUREMENTS:
Fair Value	133,674	118,822
Level 2 | Fair Value | Revolving credit facility
FAIR VALUE MEASUREMENTS:
Fair Value	0	338,000
Level 2 | Fair Value | 5.375% Senior Unsecured Notes due 2021
FAIR VALUE MEASUREMENTS:
Fair Value	605,490	595,068
Level 2 | Fair Value | 5.625% Senior Unsecured Notes due 2024
FAIR VALUE MEASUREMENTS:
Fair Value	544,500	532,813
Level 2 | Fair Value | 6.125% Senior Unsecured Notes due 2022
FAIR VALUE MEASUREMENTS:
Fair Value	513,750	503,475
Level 2 | Fair Value | 6.375% Senior Unsecured Notes due 2021
FAIR VALUE MEASUREMENTS:
Fair Value	363,909	355,800
Level 2 | Fair Value | Term Loan A
FAIR VALUE MEASUREMENTS:
Fair Value	328,884	341,982
Level 2 | Fair Value | Term Loan B
FAIR VALUE MEASUREMENTS:
Fair Value	1,381,122	1,029,997
Level 2 | Fair Value | Debt of variable interest entities
FAIR VALUE MEASUREMENTS:
Fair Value	28,425	30,167
Level 2 | Fair Value | Debt of other operating divisions
FAIR VALUE MEASUREMENTS:
Fair Value	$ 133,674	$ 118,822

CONDENSED CONSOLIDATING FINAN47

CONDENSED CONSOLIDATING FINANCIAL STATEMENTS - Additional Information (Details) - USD ($) $ in Millions	Jun. 30, 2015	Dec. 31, 2014
Notes Payable And Commercial Bank Financing
Total debt	$ 3,889.7
5.375% Senior Unsecured Notes due 2021
Notes Payable And Commercial Bank Financing
Interest rate (as a percent)	5.375%	5.375%
6.125% Senior Unsecured Notes due 2022
Notes Payable And Commercial Bank Financing
Interest rate (as a percent)	6.125%	6.125%
6.375% Senior Notes due 2021
Notes Payable And Commercial Bank Financing
Interest rate (as a percent)	6.375%	6.375%
Sinclair Television Group, Inc.
Notes Payable And Commercial Bank Financing
Amount of debt guaranteed by parent	$ 3,751.7
Sinclair Television Group, Inc. | 5.375% Senior Unsecured Notes due 2021
Notes Payable And Commercial Bank Financing
Interest rate (as a percent)	5.375%
Sinclair Television Group, Inc. | 5.625% Senior Unsecured Notes, due 2024
Notes Payable And Commercial Bank Financing
Interest rate (as a percent)	5.625%
Sinclair Television Group, Inc. | 6.125% Senior Unsecured Notes due 2022
Notes Payable And Commercial Bank Financing
Interest rate (as a percent)	6.125%
Sinclair Television Group, Inc. | 6.375% Senior Notes due 2021
Notes Payable And Commercial Bank Financing
Interest rate (as a percent)	6.375%
Guarantor Subsidiaries and KDSM, LLC | 5.375% Senior Unsecured Notes due 2021
Notes Payable And Commercial Bank Financing
Interest rate (as a percent)	5.375%
Guarantor Subsidiaries and KDSM, LLC | 5.625% Senior Unsecured Notes, due 2024
Notes Payable And Commercial Bank Financing
Interest rate (as a percent)	5.625%
Guarantor Subsidiaries and KDSM, LLC | 6.125% Senior Unsecured Notes due 2022
Notes Payable And Commercial Bank Financing
Interest rate (as a percent)	6.125%
Guarantor Subsidiaries and KDSM, LLC | 6.375% Senior Notes due 2021
Notes Payable And Commercial Bank Financing
Interest rate (as a percent)	6.375%
Sinclair Broadcast Group, Inc
Notes Payable And Commercial Bank Financing
Amount of debt guaranteed by parent	$ 3,701.3

CONDENSED CONSOLIDATING FINAN48

CONDENSED CONSOLIDATING FINANCIAL STATEMENTS - Balance Sheet (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014	Jun. 30, 2014	Dec. 31, 2013
CONDENSED CONSOLIDATING BALANCE SHEET
Cash	$ 64,579	$ 17,682	$ 395,546	$ 280,104
Accounts and other receivables	384,570	383,503
Other current assets	94,650	118,476
Assets held for sale	0	6,504
Total current assets	543,799	526,165
Property and equipment, net	741,854	752,538
Assets held for sale	1,843	8,817
Investment in consolidated subsidiaries	0	0
Goodwill	1,951,302	1,964,553
Broadcast licenses	130,915	135,075
Definite-lived intangible assets	1,792,919	1,818,263
Other long-term assets	218,349	204,917
Total assets	5,380,981	5,410,328
Accounts payable and accrued liabilities	236,239	258,371
Current portion of long-term debt	61,935	113,116
Current portion of affiliate long-term debt	2,881	2,625
Other current liabilities	95,826	117,417
Liabilities held for sale		2,477
Total current liabilities	396,881	494,006
Long-term debt	3,808,085	3,754,822
Affiliate long-term debt	16,775	16,309
Other liabilities	712,981	739,848
Total liabilities	4,934,722	5,004,985
Total Sinclair Broadcast Group shareholders’ equity	469,059	427,882
Noncontrolling interests in consolidated subsidiaries	(22,800)	(22,539)
Total liabilities and equity	5,380,981	5,410,328
Reportable legal entities | Sinclair Broadcast Group, Inc
CONDENSED CONSOLIDATING BALANCE SHEET
Cash	0	0	0	0
Accounts and other receivables	0	0
Other current assets	2,456	5,741
Assets held for sale		0
Total current assets	2,456	5,741
Property and equipment, net	3,416	3,949
Assets held for sale	0	0
Investment in consolidated subsidiaries	438,600	395,225
Goodwill	0	0
Broadcast licenses	0	0
Definite-lived intangible assets	0	0
Other long-term assets	59,027	65,988
Total assets	503,499	470,903
Accounts payable and accrued liabilities	161	541
Current portion of long-term debt	217	529
Current portion of affiliate long-term debt	1,556	1,464
Other current liabilities	1,208	1,208
Liabilities held for sale		0
Total current liabilities	3,142	3,742
Long-term debt	0	0
Affiliate long-term debt	2,700	3,508
Other liabilities	28,598	35,771
Total liabilities	34,440	43,021
Total Sinclair Broadcast Group shareholders’ equity	469,059	427,882
Noncontrolling interests in consolidated subsidiaries	0	0
Total liabilities and equity	503,499	470,903
Reportable legal entities | Sinclair Television Group, Inc.
CONDENSED CONSOLIDATING BALANCE SHEET
Cash	49,400	3,394	382,989	237,974
Accounts and other receivables	0	164
Other current assets	15,466	12,996
Assets held for sale		0
Total current assets	64,866	16,554
Property and equipment, net	21,783	17,554
Assets held for sale	0	0
Investment in consolidated subsidiaries	3,476,007	3,585,037
Goodwill	0	0
Broadcast licenses	0	0
Definite-lived intangible assets	0	0
Other long-term assets	636,526	555,877
Total assets	4,199,182	4,175,022
Accounts payable and accrued liabilities	42,461	46,083
Current portion of long-term debt	49,547	42,953
Current portion of affiliate long-term debt	0	0
Other current liabilities	0	0
Liabilities held for sale		0
Total current liabilities	92,008	89,036
Long-term debt	3,623,777	3,638,286
Affiliate long-term debt	0	0
Other liabilities	29,278	28,856
Total liabilities	3,745,063	3,756,178
Total Sinclair Broadcast Group shareholders’ equity	454,119	418,844
Noncontrolling interests in consolidated subsidiaries	0	0
Total liabilities and equity	4,199,182	4,175,022
Reportable legal entities | Guarantor Subsidiaries and KDSM, LLC
CONDENSED CONSOLIDATING BALANCE SHEET
Cash	1,068	1,749	488	28,594
Accounts and other receivables	356,389	359,486
Other current assets	63,074	98,751
Assets held for sale		0
Total current assets	420,531	459,986
Property and equipment, net	551,889	569,372
Assets held for sale	1,843	1,843
Investment in consolidated subsidiaries	4,079	3,978
Goodwill	1,947,027	1,963,254
Broadcast licenses	113,955	118,115
Definite-lived intangible assets	1,659,249	1,698,919
Other long-term assets	115,999	132,611
Total assets	4,814,572	4,948,078
Accounts payable and accrued liabilities	181,306	201,102
Current portion of long-term debt	1,437	1,302
Current portion of affiliate long-term debt	1,136	1,182
Other current liabilities	87,741	107,867
Liabilities held for sale		0
Total current liabilities	271,620	311,453
Long-term debt	33,592	34,338
Affiliate long-term debt	12,216	12,802
Other liabilities	1,019,773	1,003,213
Total liabilities	1,337,201	1,361,806
Total Sinclair Broadcast Group shareholders’ equity	3,477,371	3,586,272
Noncontrolling interests in consolidated subsidiaries	0	0
Total liabilities and equity	4,814,572	4,948,078
Reportable legal entities | Non-Guarantor Subsidiaries
CONDENSED CONSOLIDATING BALANCE SHEET
Cash	14,111	12,539	12,069	13,536
Accounts and other receivables	29,418	25,111
Other current assets	22,866	12,721
Assets held for sale		6,504
Total current assets	66,395	56,875
Property and equipment, net	172,701	168,762
Assets held for sale	0	6,974
Investment in consolidated subsidiaries	0	0
Goodwill	4,275	1,299
Broadcast licenses	16,960	16,960
Definite-lived intangible assets	197,479	184,441
Other long-term assets	151,204	121,273
Total assets	609,014	556,584
Accounts payable and accrued liabilities	26,381	24,325
Current portion of long-term debt	10,734	68,332
Current portion of affiliate long-term debt	1,409	1,026
Other current liabilities	8,362	9,749
Liabilities held for sale		2,477
Total current liabilities	46,886	105,909
Long-term debt	150,716	82,198
Affiliate long-term debt	358,791	319,901
Other liabilities	170,322	169,935
Total liabilities	726,715	677,943
Total Sinclair Broadcast Group shareholders’ equity	(90,747)	(94,632)
Noncontrolling interests in consolidated subsidiaries	(26,954)	(26,727)
Total liabilities and equity	609,014	556,584
Eliminations
CONDENSED CONSOLIDATING BALANCE SHEET
Cash	0	0	$ 0	$ 0
Accounts and other receivables	(1,237)	(1,258)
Other current assets	(9,212)	(11,733)
Assets held for sale		0
Total current assets	(10,449)	(12,991)
Property and equipment, net	(7,935)	(7,099)
Assets held for sale	0	0
Investment in consolidated subsidiaries	(3,918,686)	(3,984,240)
Goodwill	0	0
Broadcast licenses	0	0
Definite-lived intangible assets	(63,809)	(65,097)
Other long-term assets	(744,407)	(670,832)
Total assets	(4,745,286)	(4,740,259)
Accounts payable and accrued liabilities	(14,070)	(13,680)
Current portion of long-term debt	0	0
Current portion of affiliate long-term debt	(1,220)	(1,047)
Other current liabilities	(1,485)	(1,407)
Liabilities held for sale		0
Total current liabilities	(16,775)	(16,134)
Long-term debt	0	0
Affiliate long-term debt	(356,932)	(319,902)
Other liabilities	(534,990)	(497,927)
Total liabilities	(908,697)	(833,963)
Total Sinclair Broadcast Group shareholders’ equity	(3,840,743)	(3,910,484)
Noncontrolling interests in consolidated subsidiaries	4,154	4,188
Total liabilities and equity	$ (4,745,286)	$ (4,740,259)

CONDENSED CONSOLIDATING FINAN49

CONDENSED CONSOLIDATING FINANCIAL STATEMENTS - Statement of Operations and Comprehensive Income (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME
Net revenue	$ 554,167	$ 455,136	$ 1,058,942	$ 867,784
Program and production	181,088	134,303	352,103	261,342
Selling, general and administrative	116,955	98,415	234,858	196,175
Depreciation, amortization and other operating expenses	141,784	119,379	273,094	226,228
Total operating expenses	439,827	352,097	860,055	683,745
Operating income	114,340	103,039	198,887	184,039
Equity in earnings of consolidated subsidiaries	0	0	0	0
Interest expense	(47,664)	(40,121)	(94,312)	(79,659)
Other income (expense)	3,057	1,757	6,421	2,772
Total other expense, net	(44,607)	(38,364)	(87,891)	(76,887)
Income tax benefit (provision)	(23,334)	(23,074)	(39,761)	(37,894)
NET INCOME	46,399	41,601	71,235	69,258
Net income attributable to the noncontrolling interests	(612)	(266)	(1,166)	(765)
NET INCOME ATTRIBUTABLE TO SINCLAIR BROADCAST GROUP	45,787	41,335	70,069	68,493
Comprehensive income (loss)	46,483	42,247	71,403	69,942
Reportable legal entities | Sinclair Broadcast Group, Inc
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME
Net revenue	0	0	0	0
Program and production	0	0	0	0
Selling, general and administrative	1,457	1,155	2,501	2,040
Depreciation, amortization and other operating expenses	266	267	533	534
Total operating expenses	1,723	1,422	3,034	2,574
Operating income	(1,723)	(1,422)	(3,034)	(2,574)
Equity in earnings of consolidated subsidiaries	46,369	42,662	70,693	69,349
Interest expense	(106)	(149)	(207)	(308)
Other income (expense)	944	941	2,294	1,587
Total other expense, net	47,207	43,454	72,780	70,628
Income tax benefit (provision)	303	(697)	323	439
NET INCOME	45,787	41,335	70,069	68,493
Net income attributable to the noncontrolling interests	0	0	0	0
NET INCOME ATTRIBUTABLE TO SINCLAIR BROADCAST GROUP	45,787	41,335	70,069	68,493
Comprehensive income (loss)	46,483	42,247	71,403	69,942
Reportable legal entities | Sinclair Television Group, Inc.
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME
Net revenue	0	0	0	0
Program and production	0	114	0	190
Selling, general and administrative	11,429	14,000	26,212	28,545
Depreciation, amortization and other operating expenses	809	1,138	1,584	2,245
Total operating expenses	12,238	15,252	27,796	30,980
Operating income	(12,238)	(15,252)	(27,796)	(30,980)
Equity in earnings of consolidated subsidiaries	85,483	75,388	149,948	137,652
Interest expense	(44,969)	(37,082)	(88,842)	(73,830)
Other income (expense)	444	86	291	382
Total other expense, net	40,958	38,392	61,397	64,204
Income tax benefit (provision)	19,584	19,209	40,199	36,476
NET INCOME	48,304	42,349	73,800	69,700
Net income attributable to the noncontrolling interests	0	0	0	0
NET INCOME ATTRIBUTABLE TO SINCLAIR BROADCAST GROUP	48,304	42,349	73,800	69,700
Comprehensive income (loss)	48,315	42,515	73,817	69,780
Reportable legal entities | Guarantor Subsidiaries and KDSM, LLC
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME
Net revenue	522,405	430,334	999,076	820,414
Program and production	180,033	133,440	349,727	260,173
Selling, general and administrative	100,579	80,324	199,927	160,826
Depreciation, amortization and other operating expenses	109,201	93,889	211,560	180,279
Total operating expenses	389,813	307,653	761,214	601,278
Operating income	132,592	122,681	237,862	219,136
Equity in earnings of consolidated subsidiaries	(50)	0	(100)	0
Interest expense	(1,165)	(1,224)	(2,341)	(2,466)
Other income (expense)	203	465	266	558
Total other expense, net	(1,012)	(759)	(2,175)	(1,908)
Income tax benefit (provision)	(44,899)	(43,691)	(83,277)	(76,733)
NET INCOME	86,681	78,231	152,410	140,495
Net income attributable to the noncontrolling interests	0	0	0	0
NET INCOME ATTRIBUTABLE TO SINCLAIR BROADCAST GROUP	86,681	78,231	152,410	140,495
Comprehensive income (loss)	86,756	78,231	152,561	140,495
Reportable legal entities | Non-Guarantor Subsidiaries
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME
Net revenue	52,908	47,527	99,912	88,954
Program and production	20,550	21,492	40,399	39,903
Selling, general and administrative	3,683	3,511	6,323	5,911
Depreciation, amortization and other operating expenses	32,135	24,805	60,385	43,965
Total operating expenses	56,368	49,808	107,107	89,779
Operating income	(3,460)	(2,281)	(7,195)	(825)
Equity in earnings of consolidated subsidiaries	0	0	0	0
Interest expense	(7,470)	(6,974)	(14,176)	(13,527)
Other income (expense)	1,466	285	3,570	285
Total other expense, net	(6,004)	(6,689)	(10,606)	(13,242)
Income tax benefit (provision)	1,678	2,105	2,994	1,924
NET INCOME	(7,786)	(6,865)	(14,807)	(12,143)
Net income attributable to the noncontrolling interests	(646)	(299)	(1,200)	(798)
NET INCOME ATTRIBUTABLE TO SINCLAIR BROADCAST GROUP	(8,432)	(7,164)	(16,007)	(12,941)
Comprehensive income (loss)	(7,786)	(5,887)	(14,807)	(11,539)
Eliminations
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME
Net revenue	(21,146)	(22,725)	(40,046)	(41,584)
Program and production	(19,495)	(20,743)	(38,023)	(38,924)
Selling, general and administrative	(193)	(575)	(105)	(1,147)
Depreciation, amortization and other operating expenses	(627)	(720)	(968)	(795)
Total operating expenses	(20,315)	(22,038)	(39,096)	(40,866)
Operating income	(831)	(687)	(950)	(718)
Equity in earnings of consolidated subsidiaries	(131,802)	(118,050)	(220,541)	(207,001)
Interest expense	6,046	5,308	11,254	10,472
Other income (expense)	0	(20)	0	(40)
Total other expense, net	(125,756)	(112,762)	(209,287)	(196,569)
Income tax benefit (provision)	0	0	0	0
NET INCOME	(126,587)	(113,449)	(210,237)	(197,287)
Net income attributable to the noncontrolling interests	34	33	34	33
NET INCOME ATTRIBUTABLE TO SINCLAIR BROADCAST GROUP	(126,553)	(113,416)	(210,203)	(197,254)
Comprehensive income (loss)	$ (127,285)	$ (114,859)	$ (211,571)	$ (198,736)

CONDENSED CONSOLIDATING FINAN50

CONDENSED CONSOLIDATING FINANCIAL STATEMENTS - Statement of Cash Flow (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME
NET CASH FLOWS (USED IN) FROM OPERATING ACTIVITIES	$ 178,016	$ 179,984
CASH FLOWS FROM (USED IN) INVESTING ACTIVITIES:
Acquisition of property and equipment	(47,062)	(26,587)
Purchase of alarm monitoring contracts	(16,673)	(7,835)
Distributions from equity and cost method investees	8,168	1,522
Decrease in restricted cash		(683)
Investments in equity and cost method investees	(37,809)	(6,167)
Payments for acquisition of assets in other operating divisions	0	(8,273)
Proceeds from termination of life insurance policies	0	17,042
Other, net	3,483	1,197
Net cash flows used in investing activities	(89,893)	(31,306)
CASH FLOWS FROM (USED IN) FINANCING ACTIVITIES:
Proceeds from notes payable, commercial bank financing and capital leases	364,853	102,724
Repayments of notes payable, commercial bank financing and capital leases	(360,480)	(21,114)
Dividends paid on Class A and Class B common stock	(31,464)	(29,284)
Repurchase of outstanding Class A Common Stock	(7,803)	(82,371)
Increase (decrease) in intercompany payables	0	0
Other, net	(6,332)	(3,191)
Net cash flows used in financing activities	(41,226)	(33,236)
NET INCREASE IN CASH AND CASH EQUIVALENTS	46,897	115,442
CASH AND CASH EQUIVALENTS, beginning of period	17,682	280,104
CASH AND CASH EQUIVALENTS, end of period	64,579	395,546
Reportable legal entities | Sinclair Broadcast Group, Inc
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME
NET CASH FLOWS (USED IN) FROM OPERATING ACTIVITIES	(142)	(2,354)
CASH FLOWS FROM (USED IN) INVESTING ACTIVITIES:
Acquisition of property and equipment	0	0
Purchase of alarm monitoring contracts	0	0
Distributions from equity and cost method investees	3,486
Decrease in restricted cash		0
Investments in equity and cost method investees	0	0
Payments for acquisition of assets in other operating divisions		0
Proceeds from termination of life insurance policies		0
Other, net	0	1,000
Net cash flows used in investing activities	3,486	1,000
CASH FLOWS FROM (USED IN) FINANCING ACTIVITIES:
Proceeds from notes payable, commercial bank financing and capital leases	0	0
Repayments of notes payable, commercial bank financing and capital leases	(312)	(268)
Dividends paid on Class A and Class B common stock	(31,464)	(29,284)
Repurchase of outstanding Class A Common Stock	(7,803)	(82,371)
Increase (decrease) in intercompany payables	37,036	111,767
Other, net	(801)	1,510
Net cash flows used in financing activities	(3,344)	1,354
NET INCREASE IN CASH AND CASH EQUIVALENTS	0	0
CASH AND CASH EQUIVALENTS, beginning of period	0	0
CASH AND CASH EQUIVALENTS, end of period	0	0
Reportable legal entities | Sinclair Television Group, Inc.
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME
NET CASH FLOWS (USED IN) FROM OPERATING ACTIVITIES	(70,337)	(73,198)
CASH FLOWS FROM (USED IN) INVESTING ACTIVITIES:
Acquisition of property and equipment	(5,852)	(2,935)
Purchase of alarm monitoring contracts	0	0
Distributions from equity and cost method investees	500
Decrease in restricted cash		(900)
Investments in equity and cost method investees	(4,401)	0
Payments for acquisition of assets in other operating divisions		0
Proceeds from termination of life insurance policies		17,042
Other, net	(1,461)	0
Net cash flows used in investing activities	(11,214)	13,207
CASH FLOWS FROM (USED IN) FINANCING ACTIVITIES:
Proceeds from notes payable, commercial bank financing and capital leases	349,562	91,796
Repayments of notes payable, commercial bank financing and capital leases	(357,328)	(17,056)
Dividends paid on Class A and Class B common stock	0	0
Repurchase of outstanding Class A Common Stock	0	0
Increase (decrease) in intercompany payables	138,814	130,501
Other, net	(3,491)	(235)
Net cash flows used in financing activities	127,557	205,006
NET INCREASE IN CASH AND CASH EQUIVALENTS	46,006	145,015
CASH AND CASH EQUIVALENTS, beginning of period	3,394	237,974
CASH AND CASH EQUIVALENTS, end of period	49,400	382,989
Reportable legal entities | Guarantor Subsidiaries and KDSM, LLC
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME
NET CASH FLOWS (USED IN) FROM OPERATING ACTIVITIES	265,762	232,107
CASH FLOWS FROM (USED IN) INVESTING ACTIVITIES:
Acquisition of property and equipment	(40,875)	(21,993)
Purchase of alarm monitoring contracts	0	0
Distributions from equity and cost method investees	0
Decrease in restricted cash		217
Investments in equity and cost method investees	(33)	0
Payments for acquisition of assets in other operating divisions		0
Proceeds from termination of life insurance policies		0
Other, net	4,788	264
Net cash flows used in investing activities	(36,120)	(21,512)
CASH FLOWS FROM (USED IN) FINANCING ACTIVITIES:
Proceeds from notes payable, commercial bank financing and capital leases	0	0
Repayments of notes payable, commercial bank financing and capital leases	(611)	(482)
Dividends paid on Class A and Class B common stock	0	0
Repurchase of outstanding Class A Common Stock	0	0
Increase (decrease) in intercompany payables	(230,262)	(238,219)
Other, net	550	0
Net cash flows used in financing activities	(230,323)	(238,701)
NET INCREASE IN CASH AND CASH EQUIVALENTS	(681)	(28,106)
CASH AND CASH EQUIVALENTS, beginning of period	1,749	28,594
CASH AND CASH EQUIVALENTS, end of period	1,068	488
Reportable legal entities | Non-Guarantor Subsidiaries
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME
NET CASH FLOWS (USED IN) FROM OPERATING ACTIVITIES	(24,664)	19,126
CASH FLOWS FROM (USED IN) INVESTING ACTIVITIES:
Acquisition of property and equipment	(1,097)	(1,659)
Purchase of alarm monitoring contracts	(16,673)	(7,835)
Distributions from equity and cost method investees	4,182
Decrease in restricted cash		0
Investments in equity and cost method investees	(33,375)	(6,167)
Payments for acquisition of assets in other operating divisions		(8,273)
Proceeds from termination of life insurance policies		0
Other, net	156	(67)
Net cash flows used in investing activities	(46,807)	(24,001)
CASH FLOWS FROM (USED IN) FINANCING ACTIVITIES:
Proceeds from notes payable, commercial bank financing and capital leases	15,291	10,928
Repayments of notes payable, commercial bank financing and capital leases	(2,229)	(3,308)
Dividends paid on Class A and Class B common stock	0	0
Repurchase of outstanding Class A Common Stock	0	0
Increase (decrease) in intercompany payables	62,571	254
Other, net	(2,590)	(4,466)
Net cash flows used in financing activities	73,043	3,408
NET INCREASE IN CASH AND CASH EQUIVALENTS	1,572	(1,467)
CASH AND CASH EQUIVALENTS, beginning of period	12,539	13,536
CASH AND CASH EQUIVALENTS, end of period	14,111	12,069
Eliminations
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME
NET CASH FLOWS (USED IN) FROM OPERATING ACTIVITIES	7,397	4,303
CASH FLOWS FROM (USED IN) INVESTING ACTIVITIES:
Acquisition of property and equipment	762	0
Purchase of alarm monitoring contracts	0	0
Distributions from equity and cost method investees	0
Decrease in restricted cash		0
Investments in equity and cost method investees	0	0
Payments for acquisition of assets in other operating divisions		0
Proceeds from termination of life insurance policies		0
Other, net	0	0
Net cash flows used in investing activities	762	0
CASH FLOWS FROM (USED IN) FINANCING ACTIVITIES:
Proceeds from notes payable, commercial bank financing and capital leases	0	0
Repayments of notes payable, commercial bank financing and capital leases	0	0
Dividends paid on Class A and Class B common stock	0	0
Repurchase of outstanding Class A Common Stock	0	0
Increase (decrease) in intercompany payables	(8,159)	(4,303)
Other, net	0	0
Net cash flows used in financing activities	(8,159)	(4,303)
NET INCREASE IN CASH AND CASH EQUIVALENTS	0	0
CASH AND CASH EQUIVALENTS, beginning of period	0	0
CASH AND CASH EQUIVALENTS, end of period	$ 0	$ 0