Sinclair Broadcast (SBGI) 10-Q 10 May 16 2016 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2016	May. 09, 2016
Entity Listings
Entity Registrant Name	SINCLAIR BROADCAST GROUP INC
Entity Central Index Key	912,752
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Document Type	10-Q
Document Period End Date	Mar. 31, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q1
Amendment Flag	false
Class A Common Stock
Entity Listings
Entity Common Stock, Shares Outstanding (shares)		69,102,681
Class B Common Stock
Entity Listings
Entity Common Stock, Shares Outstanding (shares)		25,928,357

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands		Mar. 31, 2016	Dec. 31, 2015
CURRENT ASSETS:
Cash and cash equivalents		$ 141,524	$ 149,972
Accounts receivable, net of allowance for doubtful accounts of $3,858 and $4,495, respectively		417,060	424,608
Current portion of program contract costs		62,704	91,466
Income taxes receivable		0	823
Prepaid expenses and other current assets		52,093	26,903
Deferred barter costs		9,151	7,991
Total current assets		682,532	701,763
PROGRAM CONTRACT COSTS, less current portion		14,543	18,996
PROPERTY AND EQUIPMENT, net		723,762	717,137
RESTRICTED CASH		3,000	3,725
GOODWILL		2,081,936	1,931,093
INDEFINITE-LIVED INTANGIBLE ASSETS		167,075	132,465
DEFINITE-LIVED INTANGIBLE ASSETS, net		1,861,444	1,751,570
OTHER ASSETS		212,906	175,566
Total assets	[1]	5,747,198	5,432,315
CURRENT LIABILITIES:
Accounts payable and accrued liabilities		261,888	251,313
Income taxes payable		9,031	0
Current portion of notes payable, capital leases and commercial bank financing		168,388	164,184
Current portion of notes and capital leases payable to affiliates		3,362	3,166
Current portion of program contracts payable		85,779	108,260
Deferred barter revenues		9,258	8,080
Total current liabilities		537,706	535,003
LONG-TERM LIABILITIES:
Notes payable, capital leases and commercial bank financing, less current portion		3,998,674	3,669,160
Notes payable and capital leases to affiliates, less current portion		16,682	17,850
Program contracts payable, less current portion		51,033	56,921
Deferred tax liabilities		551,518	585,072
Other long-term liabilities		71,687	68,631
Total liabilities		$ 5,227,300	$ 4,932,637
COMMITMENTS AND CONTINGENCIES (See Note 4)
SINCLAIR BROADCAST GROUP SHAREHOLDERS’ EQUITY:
Additional paid-in capital		$ 973,663	$ 962,726
Accumulated deficit		(426,731)	(437,029)
Accumulated other comprehensive loss		(834)	(834)
Total Sinclair Broadcast Group shareholders’ equity		547,048	525,810
Noncontrolling interests		(27,150)	(26,132)
Total equity		519,898	499,678
Total liabilities and equity		5,747,198	5,432,315
Class A Common Stock
SINCLAIR BROADCAST GROUP SHAREHOLDERS’ EQUITY:
Common Stock		691	688
Class B Common Stock
SINCLAIR BROADCAST GROUP SHAREHOLDERS’ EQUITY:
Common Stock		$ 259	$ 259
[1]	Our consolidated total assets as of March 31, 2016 and December 31, 2015 include total assets of variable interest entities (VIEs) of $148.0 million and $152.4 million, respectively, which can only be used to settle the obligations of the VIEs. Our consolidated total liabilities as of March 31, 2016 and December 31, 2015 include total liabilities of the VIEs of $34.0 million and $35.6 million, respectively, for which the creditors of the VIEs have no recourse to us. See Note 1. Nature of Operations and Summary of Significant Accounting Policies.

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Accounts receivable, allowance for doubtful accounts	$ 3,858	$ 4,495
Total assets of variable interest entities	148,000	152,400
Total liabilities of variable interest entities	$ 34,000	$ 35,600
Class A Common Stock
Common Stock, par value (USD per share)	$ 0.01	$ 0.01
Common Stock, shares authorized (shares)	500,000,000	500,000,000
Common Stock, shares issued (shares)	69,072,101	68,792,483
Common Stock, shares outstanding (shares)	69,072,101	68,792,483
Class B Common Stock
Common Stock, par value (USD per share)	$ 0.01	$ 0.01
Common Stock, shares authorized (shares)	140,000,000	140,000,000
Common Stock, shares issued (shares)	25,928,357	25,928,357
Common Stock, shares outstanding (shares)	25,928,357	25,928,357

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
REVENUES:
Media revenues	$ 531,323	$ 464,751
Revenues realized from station barter arrangements	26,510	20,959
Other non-media revenues	21,056	19,065
Total revenues	578,889	504,775
OPERATING EXPENSES:
Media production expenses	215,877	171,571
Media selling, general and administrative expenses	115,009	102,241
Expenses recognized from station barter arrangements	22,925	17,412
Amortization of program contract costs and net realizable value adjustments	33,460	30,391
Other non-media expenses	17,697	14,913
Depreciation of property and equipment	24,035	25,189
Corporate general and administrative expenses	21,341	16,038
Amortization of definite-lived intangible and other assets	43,765	39,980
Research and development expenses	1,101	2,515
Gain on asset disposition	(2,660)	(22)
Total operating expenses	492,550	420,228
Operating income	86,339	84,547
OTHER INCOME (EXPENSE):
Interest expense and amortization of debt discount and deferred financing costs	(49,415)	(46,648)
Income from equity and cost method investments	423	3,146
Other income, net	462	218
Total other expense, net	(48,530)	(43,284)
Income before income taxes	37,809	41,263
INCOME TAX PROVISION	(12,180)	(16,427)
NET INCOME	25,629	24,836
Net income attributable to the noncontrolling interests	(1,489)	(554)
NET INCOME ATTRIBUTABLE TO SINCLAIR BROADCAST GROUP	$ 24,140	$ 24,282
Dividends declared per share (USD per share)	$ 0.165	$ 0.165
BASIC AND DILUTED EARNINGS PER COMMON SHARE ATTRIBUTABLE TO SINCLAIR BROADCAST GROUP:
Basic earnings per share (USD per share)	0.25	0.26
Diluted earnings per share (USD per share)	$ 0.25	$ 0.25
Weighted average common shares outstanding (shares)	94,701	95,131
Weighted average common and common equivalent shares outstanding (shares)	95,614	95,771

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Statement of Comprehensive Income [Abstract]
Net income	$ 25,629	$ 24,836
Amortization of net periodic pension benefit costs, net of taxes	0	84
Comprehensive income	25,629	24,920
Comprehensive income attributable to the noncontrolling interests	(1,489)	(554)
Comprehensive income attributable to Sinclair Broadcast Group	$ 24,140	$ 24,366

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 (shares) at Dec. 31, 2014							69,578,899		25,928,357
BALANCE at Dec. 31, 2014	$ 405,343	$ 979,202	$ (545,820)	$ (6,455)	$ (22,539)		$ 696		$ 259
Increase (Decrease) in Stockholders' Equity
Dividends declared and paid on Class A and Class B Common Stock	(15,715)		(15,715)
Repurchases of Class A Common Stock (shares)							(304,787)
Repurchases of Class A Common Stock	(7,803)	(7,800)					$ (3)
Class A Common Stock issued pursuant to employee benefit plans (in shares)							217,803
Class A Common Stock issued pursuant to employee benefit plans	7,826	7,824					$ 2
Tax benefit on share based awards	688	688
Distributions to noncontrolling interests, net	(2,819)				(2,819)
Other comprehensive income	84			84
Net income	24,836		24,282		554
BALANCE (shares) at Mar. 31, 2015							69,491,915		25,928,357
BALANCE at Mar. 31, 2015	412,440	979,914	(537,253)	(6,371)	(24,804)		$ 695		$ 259
BALANCE (shares) at Dec. 31, 2015						68,792,483	68,792,483	25,928,357	25,928,357
BALANCE at Dec. 31, 2015	499,678	962,726	(437,029)	(834)	(26,132)		$ 688		$ 259
Increase (Decrease) in Stockholders' Equity
Dividends declared and paid on Class A and Class B Common Stock	(15,675)		(15,675)
Class A Common Stock issued pursuant to employee benefit plans (in shares)							279,618
Class A Common Stock issued pursuant to employee benefit plans	10,509	10,506	0				$ 3
Distributions to noncontrolling interests, net	(2,713)				(2,713)
Issuance of subsidiary stock awards	206				206
Net income	25,629		24,140		1,489
BALANCE (shares) at Mar. 31, 2016						69,072,101	69,072,101	25,928,357	25,928,357
BALANCE at Mar. 31, 2016	519,898	973,663	(426,731)	$ (834)	$ (27,150)		$ 691		$ 259
Increase (Decrease) in Stockholders' Equity
Cumulative effect of adoption of new accounting standard	$ 2,264	$ 431	$ 1,833

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
CASH FLOWS FROM (USED IN) OPERATING ACTIVITIES:
Net income	$ 25,629	$ 24,836
Adjustments to reconcile net income to net cash flows from operating activities:
Depreciation of property and equipment	24,035	25,189
Amortization of definite-lived intangible and other assets	43,765	39,980
Amortization of program contract costs and net realizable value adjustments	33,460	30,391
Stock-based compensation expense	6,328	7,057
Deferred tax benefit	(957)	(9,963)
Change in assets and liabilities, net of acquisitions:
Decrease in accounts receivable	26,918	19,619
Increase in prepaid expenses and other current assets	(18,933)	(10,472)
Increase (decrease) in accounts payable and accrued liabilities	10,932	(13,185)
Net change in net income taxes payable/receivable	9,854	29,786
Payments on program contracts payable	(28,615)	(27,624)
Other, net	1,599	(1,762)
Net cash flows from operating activities	134,015	113,852
CASH FLOWS FROM (USED IN) INVESTING ACTIVITIES:
Acquisition of property and equipment	(25,851)	(23,648)
Acquisition of businesses, net of cash acquired	(384,659)	(150)
Purchase of alarm monitoring contracts	(7,017)	(5,744)
Investments in equity and cost method investees	(19,874)	(2,945)
Loans to affiliates	(19,500)	0
Other, net	2,265	4,574
Net cash flows used in investing activities	(454,636)	(27,913)
CASH FLOWS FROM (USED IN) FINANCING ACTIVITIES:
Proceeds from notes payable and commercial bank financing	598,850	7,866
Repayments of notes payable, commercial bank financing and capital leases	(261,230)	(25,055)
Dividends paid on Class A and Class B Common Stock	(15,675)	(15,715)
Repurchase of outstanding Class A Common Stock	0	(7,803)
Other, net	(9,772)	(5,071)
Net cash flows from (used in) financing activities	312,173	(45,778)
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS	(8,448)	40,161
CASH AND CASH EQUIVALENTS, beginning of period	149,972	17,682
CASH AND CASH EQUIVALENTS, end of period	$ 141,524	$ 57,843

NATURE OF OPERATIONS AND SUMMAR

NATURE OF OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	3 Months Ended
	Mar. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
NATURE OF OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NATURE OF OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Nature of Operations Sinclair Broadcast Group, Inc. is a diversified television broadcasting company with national reach with a strong focus on providing high-quality content on our local television stations and digital platforms. The content, distributed through our broadcast platform, consists of programming provided by third-party networks and syndicators, local news, and other original programming produced by us. We also distribute our original programming, and owned and operated network affiliates, on other third-party platforms. Additionally, we own digital media products that are complementary to our extensive portfolio of television station related digital properties. Outside of our media related businesses, we operate technical services companies focused on supply and maintenance of broadcast transmission systems as well as research and development for the advancement of broadcast technology, and we manage other non-media related investments. As of March 31, 2016 , our broadcast distribution platform is a single reportable segment for accounting purposes. It consists primarily of our broadcast television stations, which we own, provide programming and operating services pursuant to local marketing agreements (LMAs), or provide sales services and other non-programming operating services pursuant to other outsourcing agreements (such as joint sales agreements (JSAs) and shares services agreements (SSAs)) to 166 stations in 80 markets. These stations broadcast 471 channels, as of March 31, 2016 . For the purpose of this report, these 166 stations and 471 channels are referred to as “our” stations and channels. 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 interest 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 months ended March 31, 2016 and 2015 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, 2015 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. Third-party station licensees. Certain of our stations provide services to other station owners within the same respective market through agreements, 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 March 31, 2016 and December 31, 2015 , respectively, 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 6. Related Person Transactions for more information about the arrangements with Cunningham. The net revenues of the stations which we consolidate were $71.6 million and $64.8 million for the three months ended March 31, 2016 and 2015 , 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, Joint Sales Agreements, and Retransmission Consent Negotiations within Note 4. Commitments and Contingencies for discussion of recent changes in FCC rules related to JSAs. 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): March 31, December 31, ASSETS CURRENT ASSETS: Cash and cash equivalents $ 490 $ 490 Accounts receivable 16,800 21,719 Current portion of program contract costs 9,989 13,287 Prepaid expenses and other current assets 390 331 Total current assets 27,669 35,827 PROGRAM CONTRACT COSTS, less current portion 3,570 4,541 PROPERTY AND EQUIPMENT, net 9,224 7,609 GOODWILL 791 787 INDEFINITE-LIVED INTANGIBLE ASSETS 15,684 17,599 DEFINITE-LIVED INTANGIBLE ASSETS, net 84,124 79,086 OTHER ASSETS 6,924 6,924 Total assets $ 147,986 $ 152,373 LIABILITIES CURRENT LIABILITIES: Accounts payable and accrued liabilities $ 1,274 $ 1,240 Current portion of notes payable, capital leases and commercial bank financing 3,694 3,687 Current portion of program contracts payable 10,261 12,627 Total current liabilities 15,229 17,554 LONG-TERM LIABILITIES: Notes payable, capital leases and commercial bank financing, less current portion 23,699 24,594 Program contracts payable, less current portion 12,765 13,679 Other long-term liabilities 9,681 8,067 Total liabilities $ 61,374 $ 63,894 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 total payments made under these LMAs as of March 31, 2016 and December 31, 2015 , which are excluded from liabilities above, were $38.4 million and $37.6 million , respectively. The total capital lease liabilities, net of capital lease assets, excluded from the above were $4.4 million and $4.5 million for March 31, 2016 and December 31, 2015 . Also excluded from the amounts above are liabilities associated with certain outsourcing agreements and purchase options with certain VIEs totaling $78.1 million and $72.5 million as of March 31, 2016 and December 31, 2015 , respectively, as these amounts are eliminated in consolidation. The assets of each of these 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. The risk and reward characteristics of the VIEs are similar. Other investments. We have investments in 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 March 31, 2016 and December 31, 2015 are $103.3 million and $18.1 million , respectively, are included in other assets in the consolidated balance sheets. The increase during the first quarter 2016 was due to the adoption of the revised accounting guidance related to consolidation as discussed under Recent Accounting Pronouncements below, which resulted in additional investments being considered VIEs. 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 $0.4 million and $3.3 million for the three months ended March 31, 2016 and 2015 , respectively. 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. Recent Accounting Pronouncements In May 2014, the Financial Accounting Standards Board (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 was to be effective for annual reporting periods beginning after December 15, 2016. In August 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 consolidated 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 consolidated 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. The new standard is effective for the interim and annual periods beginning after December 15, 2015. We adopted this revised guidance on a modified retrospective basis during the three months ended March 31, 2016. As disclosed under Other investments under Variable Interest Entities above, the adoption of the revised guidance resulted in additional investments in real estate ventures and investment companies being considered VIEs, however we concluded that we were not the primary beneficiary of these investments. The revised guidance did not have any other impact on our consolidation conclusions. In February 2016, the FASB issued new guidance related to accounting for leases, which requires the assets and liabilities that arise from leases to be recognized on the balance sheet. Currently only capital leases are recorded on the balance sheet. This update will require the lessee to recognize a lease liability equal to the present value of the lease payments and a right-of-use asset representing its right to use the underlying asset for the lease term for all leases longer than 12 months. For leases with a term of 12 months or less, a lessee is permitted to make an accounting policy election by class of underlying asset not to recognize lease assets and liabilities and recognize the lease expense for such leases generally on a straight-line basis over the lease term. This update will be effective for fiscal periods beginning after December 15, 2018, including interim periods within that reporting period. Early adoption is permitted. We are currently evaluating the impact of this guidance on our consolidated financial statements. In March 2016, the FASB issued new guidance that simplifies several aspects of the accounting for employee share-based payment transactions, including the accounting for income tax effects, forfeitures, the impact of employee income tax withholdings and classification of certain related items in the statement of cash flows. We early adopted this guidance effective January 1, 2016, which did not have a material effect on the consolidated financial statements. The adoption of the various changes in the guidance were applied as required by the guidance either on the prospective, modified retrospective, or full retrospective basis. As shown in the consolidated statement of stockholders' equity, upon adoption, we recorded a $0.4 million increase to additional paid in capital and a $1.8 million decrease in accumulated deficit, net of taxes, to record the cumulative effect of changing the classification of certain liability awards to equity classification. Additionally, for the three months ended March 31, 2015, we reclassified $2.2 million from net cash flows from operating activities to net cash flows from financing activities in our consolidated statement of cash flows related to cash payments made to taxing authorities on certain employees' behalf for shares withheld. Revenue Recognition Total revenues include: (i) cash and barter advertising revenues, net of agency commissions; (ii) retransmission consent fees; (iii) network compensation; (iv) other media revenues and (v) revenues from our other businesses. Advertising revenues, net of agency commissions, are recognized in the period during which advertisements are placed. Some of our retransmission consent agreements contain both advertising and retransmission consent elements. We have determined that these 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 significant revenues are recognized as services are provided. Income Taxes Our income tax provision for all periods consists of federal and state income taxes. The tax provision for the three months ended March 31, 2016 and 2015 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 March 31, 2016 was less than the statutory rate primarily due to a Domestic Production Activities Deduction benefit, partially offset by a provision for state taxes. Our effective income tax rate for the three months ended March 31, 2015 exceeded the statutory rate primarily due to an increase in income tax provision resulting from a settlement of a state income tax position. We believe it is reasonably possible that our liability for unrecognized tax benefits related to continuing operations could be reduced by up to $1.3 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 Certain reclassifications have been made to prior years' consolidated financial statements to conform to the current year's presentation.

ACQUISITIONS

ACQUISITIONS	3 Months Ended
	Mar. 31, 2016
Business Combinations [Abstract]
ACQUISITIONS	ACQUISITIONS: Tennis Channel. In March 2016, we acquired all of the outstanding common stock of Tennis Channel (Tennis) for $350.0 million plus a working capital adjustment of $6.5 million . This was funded through cash on hand and a draw on the Bank Credit Agreement. The acquisition provides an expansion of our network business and increases value based on the synergies we can achieve. Tennis is reported within Other within Note 7. Segment Data . The following tables summarize the allocated fair value of acquired assets and assumed liabilities (in thousands): Cash $ 5,111 Accounts receivable 17,629 Prepaid expenses and other current assets 6,318 Property and equipment 5,964 Definite-lived intangible assets 111,528 Indefinite-lived intangible assets 36,500 Restricted cash 200 Other assets 619 Deferred tax asset 33,678 Accounts payable and accrued liabilities (7,414 ) Capital leases (115 ) Other long term liabilities (1,669 ) Fair value of identifiable net assets acquired 208,349 Goodwill 148,140 Total $ 356,489 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 are preliminary pending a final determination of the fair values of the assets and liabilities. Indefinite-lived intangible assets are comprised of trade names. Customer relationships, which represent existing advertiser relationships and contractual relationships with MVPDs, will be amortized over the estimated remaining useful lives of 10 years. 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. There is no goodwill deductible for tax purposes. Other intangible assets will be amortized over the respective weighted average useful lives ranging from 1 to 10 years. The following table summarizes the amounts allocated to definite-lived intangible assets representing the estimated fair values (in thousands): Customer relationships $ 107,300 Other intangible assets 4,228 Fair value of identifiable definite-lived intangible assets acquired $ 111,528 In connection with the acquisitions, for the three months ended March 31, 2016 , we incurred a total of $0.3 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. Net revenues and an operating loss of the Tennis included in our consolidated statements of operations, were $7.6 million and $1.5 million , for the three months ending March 31, 2016, respectively. Pro Forma Information The following table sets forth unaudited pro forma results of operations for the three months ended March 31, 2016 and 2015, assuming that Tennis, along with transactions necessary to finance the acquisition, occurred at the beginning of the year preceding the year of acquisition. The pro forma results exclude the acquisition of television station acquisitions discussed below, as they were deemed not material both individually and in the aggregate (in thousands, except per share data): Three months ended March 31, 2016 2015 Total revenues $ 593,381 $ 524,282 Net Income $ 25,822 $ 25,404 Net Income attributable to Sinclair Broadcast Group $ 24,333 $ 24,850 Basic earnings per share attributable to Sinclair Broadcast Group $ 0.26 $ 0.26 Diluted earnings per share attributable to Sinclair Broadcast Group $ 0.25 $ 0.26 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 Tennis 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 and amortization of intangible assets 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 tangible and intangible assets in purchase accounting. Television Station Acquisitions. During the three months ended March 31, 2016, we acquired certain television station related assets for an aggregate purchase price of $34.2 million . In conjunction with the acquisition of the television station in South Bend-Elkhart, IN, we simultaneously sold the broadcast assets of our station in Marquette, MI. For the three months ended, March 31, 2016, we recognized a $2.6 million gain on the sale of the television station in Marquette, MI. In May 2016, we acquired KFXL (FOX) and KHGI, KHGI-LD, KWNB and KWNB-LD (ABC), in Lincoln, Nebraska for $31.3 million . The acquisition was funded with cash on hand.

NOTES PAYABLE AND COMMERCIAL BA

NOTES PAYABLE AND COMMERCIAL BANK FINANCINGS	3 Months Ended
	Mar. 31, 2016
Debt Disclosure [Abstract]
NOTES PAYABLE AND COMMERCIAL BANK FINANCING	NOTES PAYABLE AND COMMERCIAL BANK FINANCING: On March 23, 2016, we issued $350.0 million in senior unsecured notes, which bear interest at a rate of 5.875% per annum and mature on March 15, 2026 (the 5.875% Notes), pursuant to an indenture dated March 23, 2016 (the 5.875% Indenture). The 5.875% Notes were priced at 100% of their par value and interest is payable semi-annually on March 15 and September 15, commencing on September 15, 2016. Prior to March 15, 2021, we may redeem the 5.875% Notes, in whole or in part, at any time or from time to time at a price equal to 100% of the principal amount of the 5.875% Notes plus accrued and unpaid interest, if any, to the date of redemption, plus a “make-whole” premium as set forth in the 5.875% Indenture. In addition, on or prior to March 15, 2019, we may redeem up to 35% of the 5.875% Notes, using proceeds of certain equity offerings. If we sell certain of our assets or experience specific kinds of changes of control, the holders of the 5.875% Notes may require us to repurchase some or all of the notes. The proceeds from the offering of the 5.875% Notes, were used to repay amounts under our revolving credit facility and for other general corporate purposes. We incurred $5.9 million of deferred financing costs in connection with the issuance of the 5.875% Notes. As discussed in Note 2. Acquisitions , we completed the acquisition of Tennis in March 2016. The acquisition was funded, in part, by a draw on our revolving line of credit which was repaid using the proceeds from the 5.875% Notes discussed above. As of March 31, 2016 and December 31, 2015 , the outstanding balance under our revolving credit facility was zero . As of March 31, 2016 , we had $483.1 million borrowing capacity under our revolving credit facility.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	3 Months Ended
	Mar. 31, 2016
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 none of our pending and threatened matters are material. Various parties have filed petitions to deny our applications or applications of licensees that we provide services to under LMAs 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; KGAN-TV, Cedar Rapids, Iowa; 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, Joint Sales Agreements, and Retransmission Consent Negotiations In March, 2014, the FCC issued a public notice indicating that it will closely scrutinize any broadcast assignment or transfer application proposing sharing arrangements (such as JSAs, LMAs and other shared services agreements) and contingent interests (such as options). 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, in April, 2014, the FCC issued an order amending its multiple ownership rules to provide that, JSAs 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 order provided that JSAs that existed on the effective date of the new rule, March 31, 2014, had two years to be terminated, amended or otherwise come into compliance with the new rules. Subsequently, Congress adopted, and the President signed into law, legislation that grandfathered preexisting JSAs until October 1, 2025. We cannot predict whether we will be able to terminate or restructure such arrangements prior to October 1, 2025 on terms that are as advantageous to us as the current arrangements. The new rule is the subject of an appeal, which was heard by the United States Court of Appeals for the Third Circuit in April 2016. We cannot predict the outcome of that appeal. Among other things, the new JSA rule could limit our future ability to create duopolies or other two-station operations in certain markets. The revenues of these JSA arrangements we earned were $12.2 million and $10.9 million for the three months ended March 31, 2016 and 2015 , respectively. In February 2015, the FCC issued an order implementing certain statutorily required changes to its rules governing the duty to negotiate retransmission consent agreements in good faith. With these changes, a television broadcast station is prohibited from negotiating retransmission consent jointly with another television station in the same market unless the “stations are directly or indirectly under common de jure control permitted under the regulations of the Commission.” During a recent retransmission consent negotiation, an MVPD filed a complaint with the FCC accusing us of violating this rule. Although we reached agreement with the MVPD and they withdrew their complaint, the FCC is still looking into the allegations made by the MVPD and whether we negotiated in good faith as defined in the rules. We cannot predict the outcome of any potential FCC action, but it is possible that such action could include fines that may be material to our consolidated financial statements. Further, in September 2015, the FCC released a Notice of Proposed Rulemaking in response to a Congressional directive in STELAR to examine the “totality of the circumstances test” for good-faith negotiations of retransmission consent. The proposed rulemaking seeks comment on new factors and evidence to consider in its evaluation of claims of bad faith negotiation, including service interruptions prior to a “marquee sports or entertainment event,” restrictions on online access to broadcast programming during negotiation impasses, broadcasters’ ability to offer bundles of broadcast signals with other broadcast stations or cable networks, and broadcasters’ ability to invoke the FCC’s exclusivity rules during service interruptions. We cannot predict the impact such rulemaking may have on our retransmission consent negotiations.

EARNINGS PER SHARE

EARNINGS PER SHARE	3 Months Ended
	Mar. 31, 2016
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 2016 2015 Income (Numerator) Net Income $ 25,629 $ 24,836 Net (income) loss attributable to noncontrolling interests (1,489 ) (554 ) Numerator for diluted earnings per common share available to common shareholders $ 24,140 $ 24,282 Shares (Denominator) Weighted-average common shares outstanding 94,701 95,131 Dilutive effect of stock-settled appreciation rights, restricted stock awards and outstanding stock options 913 640 Weighted-average common and common equivalent shares outstanding 95,614 95,771 There were 407,479 anti-dilutive shares for the three months ended March 31, 2016 , and 325,000 anti-dilutive shares for the three months ended March 31, 2015 .

RELATED PERSON TRANSACTIONS

RELATED PERSON TRANSACTIONS	3 Months Ended
	Mar. 31, 2016
Related Party Transactions [Abstract]
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 $1.4 million the three months ended March 31, 2016 and 2015 , respectively. In September 2015, we were granted authority by the Federal Communications Commission (FCC) to operate an experimental facility in Washington D.C. and Baltimore markets to implement a Single Frequency Network (SFN) using the base elements of the new ATSC 3.0 transmission standard. In conjunction with this experimental facility, Cunningham Communications, Inc. will be providing tower space without charge. Charter Aircraft. We lease aircraft owned by certain controlling shareholders. We incurred expenses of $0.4 million and $0.3 million for the three months ended March 31, 2016 and 2015 , respectively. Cunningham Broadcasting Corporation Cunningham owns a portfolio of television stations including: 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). The estate of Carolyn C. Smith, the mother of our controlling shareholders, 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. All of the non-voting stock is owned by trusts for the benefit of the children of our controlling shareholders. We consolidate certain subsidiaries of Cunningham, with which we have variable interests through various arrangements related to the Cunningham Stations discussed further below. As of March 31, 2016 , 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. Pursuant to the terms of the LMAs, options and other agreements, we are 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) $4.7 million . The aggregate purchase price of these television stations increases by 6% annually. A portion of the LMA fee is required to be applied to the purchase price to the extent of the 6% increase. The remaining aggregate purchase price of these stations as of March 31, 2016 was approximately $53.6 million . We made payments to Cunningham under our LMAs with these stations of $2.2 million and $2.3 million for the three months ended March 31, 2016 and 2015 , respectively. For the three months ended March 31, 2016 and 2015 , Cunningham LMA Stations provided us with approximately $25.6 million and $21.7 million , respectively, of total revenue. Cunningham also 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 JSAs and SSAs. 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. Under these arrangements, we earned $1.4 million and $1.3 million from the services we performed for these stations for the three months ended March 31, 2016 and 2015 , 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 and $1.7 million for the three months ended March 31, 2016 and 2015 , respectively. During January 2016, Cunningham entered into a promissory note to borrow $19.5 million from us. The note bears interest at a fixed rate of 5.0% per annum (the 5.0% Notes), which is payable quarterly, commencing March 31, 2016. The note matures in January 2021, with additional one year renewal periods upon our approval. In April 2016, we entered into an agreement with Cunningham to sell master control equipment and provide master control services to their station in Johnstown, PA for a period of three years ending in 2019. Under the agreement, Cunningham will purchase the equipment from us for $0.7 million and pay us $0.2 million annually for master control services plus the cost to maintain and repair of the equipment. 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 and $0.4 million for the three months ended March 31, 2016 and 2015 , respectively. No payments for vehicles or vehicle related services were paid to Atlantic Automotive during the three months ended March 31, 2016 . Additionally, Atlantic Automotive leases office space owned by one of our consolidated real estate ventures in Towson, Maryland. Atlantic Automotive paid $0.4 million and $0.1 million in rent during the three months ended March 31, 2016 and 2015 , 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 $0.1 million for both the three months ended March 31, 2016 and 2015 . 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 $0.1 million in rent pursuant to the lease for both the three months ended March 31, 2016 and 2015 . Payments for services provided by these three restaurants to us was zero and less than $0.1 million for the three months ended March 31, 2016 and 2015 , respectively.

SEGMENT DATA

SEGMENT DATA	3 Months Ended
	Mar. 31, 2016
Segment Reporting [Abstract]
SEGMENT DATA	SEGMENT DATA: We measure segment performance based on operating income (loss). Our broadcast segment includes stations in 80 markets located throughout the continental United States. Other primarily consists of original networks and content, digital and internet solutions, technical services and other non-media investments. All of our businesses 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 and Corporate are not reportable segments but are included for reconciliation purposes. We had approximately $226.3 million and $207.0 million of intercompany loans between the broadcast segment, other and corporate as of March 31, 2016 and 2015 , respectively. We had $6.1 million and $5.2 million in intercompany interest expense related to intercompany loans between the broadcast segment, other and corporate for the three months ended March 31, 2016 and 2015 , 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 March 31, 2016 Broadcast Other Corporate Consolidated Revenue $ 546,833 $ 32,056 $ — $ 578,889 Depreciation of property and equipment 22,748 1,021 266 24,035 Amortization of definite-lived intangible assets and other assets 39,770 3,995 — 43,765 Amortization of program contract costs and net realizable value adjustments 33,460 — — 33,460 General and administrative overhead expenses 20,447 545 349 21,341 Research and development — 1,101 — 1,101 Operating income (loss) 98,041 (11,087 ) (615 ) 86,339 Interest expense 1,482 1,476 46,457 49,415 Income from equity and cost method investments — 423 — 423 Assets 4,807,977 754,875 184,346 5,747,198 For the three months ended March 31, 2015 Broadcast Other Corporate Consolidated Revenue $ 485,052 $ 19,723 $ — $ 504,775 Depreciation of property and equipment 24,177 733 279 25,189 Amortization of definite-lived intangible assets and other assets 37,891 2,089 — 39,980 Amortization of program contract costs and net realizable value adjustments 30,391 — — 30,391 General and administrative overhead expenses 14,907 279 852 16,038 Research and development — 2,515 — 2,515 Operating income (loss) 92,042 (6,364 ) (1,131 ) 84,547 Interest expense — 1,075 45,573 46,648 Income from equity and cost method investments — 3,146 — 3,146

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	3 Months Ended
	Mar. 31, 2016
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 March 31, 2016 As of December 31, 2015 Carrying Value Fair Value Carrying Value Fair Value Level 2: 6.375% Senior Unsecured Notes due 2021 $ 350,000 $ 373,625 $ 350,000 $ 367,325 6.125% Senior Unsecured Notes due 2022 500,000 526,250 500,000 512,500 5.875% Senior Unsecured Notes due 2026 350,000 360,063 — — 5.625% Senior Unsecured Notes due 2024 550,000 559,284 550,000 539,000 5.375% Senior Unsecured Notes due 2021 600,000 619,500 600,000 605,658 Term Loan A 304,433 301,008 313,620 308,916 Term Loan B 1,372,711 1,367,706 1,376,007 1,365,461 Debt of variable interest entities 25,811 25,811 26,682 26,682 Debt of other operating divisions 122,637 122,637 120,969 120,969

CONDENSED CONSOLIDATING FINANCI

CONDENSED CONSOLIDATING FINANCIAL STATEMENTS	3 Months Ended
	Mar. 31, 2016
Condensed Financial Information of Parent Company Only Disclosure [Abstract]
CONDENSED CONSOLIDATED 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, 6.375% Notes, and 5.875% Notes. Our Class A Common Stock and Class B Common Stock as of March 31, 2016 , 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, 6.375% Notes, and 5.875% Notes. As of March 31, 2016 , our consolidated total debt, net of deferred financing costs and debt discounts, of $4,187.1 million included $4,061.6 million related to STG and its subsidiaries of which SBG guaranteed $4,010.6 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 MARCH 31, 2016 (in thousands) (unaudited) Sinclair Sinclair Guarantor Non- Eliminations Sinclair Cash $ — $ 105,318 $ 10,053 $ 26,153 $ — $ 141,524 Accounts receivable 18 — 391,581 26,719 (1,258 ) 417,060 Other current assets 1,787 6,831 97,006 20,871 (2,547 ) 123,948 Total current assets 1,805 112,149 498,640 73,743 (3,805 ) 682,532 Property and equipment, net 2,618 20,224 566,467 143,272 (8,819 ) 723,762 Investment in consolidated subsidiaries 521,328 3,774,538 4,179 — (4,300,045 ) — Goodwill — — 2,077,657 4,279 — 2,081,936 Indefinite-lived intangible assets — — 151,366 15,709 — 167,075 Definite-lived intangible assets — — 1,709,430 214,842 (62,828 ) 1,861,444 Other long-term assets 51,166 726,459 108,028 148,980 (804,184 ) 230,449 Total assets $ 576,917 $ 4,633,370 $ 5,115,767 $ 600,825 $ (5,179,681 ) $ 5,747,198 Accounts payable and accrued liabilities $ 106 $ 73,501 $ 165,791 $ 26,053 $ (3,563 ) $ 261,888 Current portion of long-term debt — 59,938 1,728 106,722 — 168,388 Current portion of affiliate long-term debt 1,701 — 1,450 1,714 (1,503 ) 3,362 Other current liabilities — — 93,742 10,326 — 104,068 Total current liabilities 1,807 133,439 262,711 144,815 (5,066 ) 537,706 Long-term debt — 3,925,163 32,263 41,248 — 3,998,674 Affiliate long-term debt 1,272 — 13,712 372,008 (370,310 ) 16,682 Other liabilities 26,790 30,020 1,049,026 174,761 (606,359 ) 674,238 Total liabilities 29,869 4,088,622 1,357,712 732,832 (981,735 ) 5,227,300 Total Sinclair Broadcast Group equity (deficit) 547,048 544,748 3,758,055 (100,419 ) (4,202,384 ) 547,048 Noncontrolling interests in consolidated subsidiaries — — — (31,588 ) 4,438 (27,150 ) Total liabilities and equity (deficit) $ 576,917 $ 4,633,370 $ 5,115,767 $ 600,825 $ (5,179,681 ) $ 5,747,198 CONDENSED CONSOLIDATING BALANCE SHEET AS OF DECEMBER 31, 2015 (in thousands) Sinclair Sinclair Guarantor Non- Eliminations Sinclair Cash $ — $ 115,771 $ 235 $ 33,966 $ — $ 149,972 Accounts receivable — 1,775 390,142 33,949 (1,258 ) 424,608 Other current assets 3,648 5,172 99,118 23,278 (4,033 ) 127,183 Total current assets 3,648 122,718 489,495 91,193 (5,291 ) 701,763 Property and equipment, net 2,884 20,336 559,042 143,667 (8,792 ) 717,137 Investment in consolidated subsidiaries 497,262 3,430,434 4,179 — (3,931,875 ) — Goodwill — — 1,926,814 4,279 — 1,931,093 Indefinite-lived intangible assets — — 114,841 17,624 — 132,465 Definite-lived intangible assets — — 1,602,454 206,975 (57,859 ) 1,751,570 Other long-term assets 52,128 673,915 110,507 140,910 (779,173 ) 198,287 Total assets $ 555,922 $ 4,247,403 $ 4,807,332 $ 604,648 $ (4,782,990 ) $ 5,432,315 Accounts payable and accrued liabilities $ 104 $ 49,428 $ 179,156 $ 27,462 $ (4,837 ) $ 251,313 Current portion of long-term debt — 57,640 1,611 106,358 (1,425 ) 164,184 Current portion of affiliate long-term debt 1,651 — 1,311 456 (252 ) 3,166 Other current liabilities — — 103,627 12,713 — 116,340 Total current liabilities 1,755 107,068 285,705 146,989 (6,514 ) 535,003 Long-term debt — 3,594,218 32,743 42,199 — 3,669,160 Affiliate long-term debt 1,857 — 14,240 366,042 (364,289 ) 17,850 Other liabilities 26,500 28,866 1,060,211 171,102 (576,055 ) 710,624 Total liabilities 30,112 3,730,152 1,392,899 726,332 (946,858 ) 4,932,637 Total Sinclair Broadcast Group equity (deficit) 525,810 517,251 3,414,433 (91,703 ) (3,839,981 ) 525,810 Noncontrolling interests in consolidated subsidiaries — — — (29,981 ) 3,849 (26,132 ) Total liabilities and equity (deficit) $ 555,922 $ 4,247,403 $ 4,807,332 $ 604,648 $ (4,782,990 ) $ 5,432,315 CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME FOR THE THREE MONTHS ENDED MARCH 31, 2016 (in thousands) (unaudited) Sinclair Sinclair Guarantor Non- Eliminations Sinclair Net revenue $ — $ — $ 545,113 $ 52,250 $ (18,474 ) $ 578,889 Media production expenses — — 209,725 24,381 (18,229 ) 215,877 Selling, general and administrative 1,002 22,099 111,107 2,162 (20 ) 136,350 Depreciation, amortization and other operating expenses 266 1,190 108,478 30,855 (466 ) 140,323 Total operating expenses 1,268 23,289 429,310 57,398 (18,715 ) 492,550 Operating (loss) income (1,268 ) (23,289 ) 115,803 (5,148 ) 241 86,339 Equity in earnings of consolidated subsidiaries 24,287 74,855 50 — (99,192 ) — Interest expense (94 ) (46,363 ) (1,202 ) (7,897 ) 6,141 (49,415 ) Other income (expense) 1,142 118 (11 ) (364 ) — 885 Total other income (expense) 25,335 28,610 (1,163 ) (8,261 ) (93,051 ) (48,530 ) Income tax benefit (provision) 73 23,103 (38,180 ) 2,824 — (12,180 ) Net income (loss) 24,140 28,424 76,460 (10,585 ) (92,810 ) 25,629 Net income attributable to the noncontrolling interests — — — (899 ) (590 ) (1,489 ) Net income (loss) attributable to Sinclair Broadcast Group $ 24,140 $ 28,424 $ 76,460 $ (11,484 ) $ (93,400 ) $ 24,140 Comprehensive income (loss) $ 24,140 $ 28,424 $ 76,460 $ (10,585 ) $ (92,810 ) $ 25,629 CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME FOR THE THREE MONTHS ENDED MARCH 31, 2015 (in thousands) (unaudited) Sinclair Sinclair Guarantor Non- Eliminations Sinclair Net revenue $ — $ — $ 476,670 $ 47,004 $ (18,899 ) $ 504,775 Media production expenses — — 170,249 19,849 (18,527 ) 171,571 Selling, general and administrative 1,045 14,783 99,723 2,640 88 118,279 Depreciation, amortization and other operating expenses 266 775 101,428 28,250 (341 ) 130,378 Total operating expenses 1,311 15,558 371,400 50,739 (18,780 ) 420,228 Operating (loss) income (1,311 ) (15,558 ) 105,270 (3,735 ) (119 ) 84,547 Equity in earnings of consolidated subsidiaries 24,325 64,465 (50 ) — (88,740 ) — Interest expense (102 ) (43,873 ) (1,176 ) (6,706 ) 5,209 (46,648 ) Other income (expense) 1,350 (154 ) 64 2,104 — 3,364 Total other income (expense) 25,573 20,438 (1,162 ) (4,602 ) (83,531 ) (43,284 ) Income tax benefit (provision) 20 20,615 (38,377 ) 1,315 — (16,427 ) Net income (loss) 24,282 25,495 65,731 (7,022 ) (83,650 ) 24,836 Net income attributable to the noncontrolling interests — — — (554 ) — (554 ) Net income (loss) attributable to Sinclair Broadcast Group $ 24,282 $ 25,495 $ 65,731 $ (7,576 ) $ (83,650 ) $ 24,282 Comprehensive income (loss) $ 24,920 $ 25,579 $ 65,731 $ (7,576 ) $ (83,734 ) $ 24,920 CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS FOR THE THREE MONTHS ENDED MARCH 31, 2016 (in thousands) (unaudited) Sinclair Sinclair Guarantor Non- Eliminations Sinclair NET CASH FLOWS FROM(USED IN) OPERATING ACTIVITIES $ 823 $ (20,655 ) $ 145,404 $ 779 $ 7,664 $ 134,015 CASH FLOWS FROM (USED IN) INVESTING ACTIVITIES: Acquisition of property and equipment — (1,479 ) (23,239 ) (1,323 ) 190 (25,851 ) Acquisition of businesses, net of cash acquired — — (374,284 ) (10,375 ) — (384,659 ) Purchase of alarm monitoring contracts — — — (7,017 ) — (7,017 ) Investments in equity and cost method investees — (10,000 ) (47 ) (9,827 ) — (19,874 ) Loans to affiliates — (19,500 ) — — — (19,500 ) Other, net 1,197 — (210 ) 1,278 — 2,265 Net cash flows from (used in) investing activities 1,197 (30,979 ) (397,780 ) (27,264 ) 190 (454,636 ) CASH FLOWS (USED IN) FROM FINANCING ACTIVITIES: Proceeds from notes payable, commercial bank financing and capital leases — 595,000 — 3,850 — 598,850 Repayments of notes payable, commercial bank financing and capital leases — (257,682 ) (461 ) (3,087 ) — (261,230 ) Dividends paid on Class A and Class B Common Stock (15,675 ) — — — — (15,675 ) Increase (decrease) in intercompany payables 15,368 (290,337 ) 262,392 20,489 (7,912 ) — Other, net (1,713 ) (5,800 ) 263 (2,580 ) 58 (9,772 ) Net cash flows (used in) from financing activities (2,020 ) 41,181 262,194 18,672 (7,854 ) 312,173 NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS — (10,453 ) 9,818 (7,813 ) — (8,448 ) CASH AND CASH EQUIVALENTS, beginning of period — 115,771 235 33,966 — 149,972 CASH AND CASH EQUIVALENTS, end of period $ — $ 105,318 $ 10,053 $ 26,153 $ — $ 141,524 CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS FOR THE THREE MONTHS ENDED MARCH 31, 2015 (in thousands) (unaudited) Sinclair Sinclair Guarantor Non- Eliminations Sinclair NET CASH FLOWS (USED IN) FROM OPERATING ACTIVITIES $ 8,824 $ (25,325 ) $ 139,443 $ (13,488 ) $ 4,398 $ 113,852 CASH FLOWS (USED IN) FROM INVESTING ACTIVITIES: Acquisition of property and equipment — (2,912 ) (20,309 ) (635 ) 208 (23,648 ) Payments for acquisition of television stations — — (150 ) — — (150 ) Purchase of alarm monitoring contracts — — — (5,744 ) — (5,744 ) Distributions from equity and costs method investees 1,425 419 — 2,308 — 4,152 Investments in equity and cost method investees — (1,100 ) — (1,845 ) — (2,945 ) Other, net — — 422 — — 422 Net cash flows (used in) from investing activities 1,425 (3,593 ) (20,037 ) (5,916 ) 208 (27,913 ) CASH FLOWS FROM (USED IN) FINANCING ACTIVITIES: Proceeds from notes payable, commercial bank financing and capital leases — — — 7,866 — 7,866 Repayments of notes payable, commercial bank financing and capital leases (508 ) (23,514 ) 56 (1,089 ) — (25,055 ) Dividends paid on Class A and Class B Common Stock (15,715 ) — — — — (15,715 ) Repurchase of outstanding Class A Common Stock (7,803 ) — — — — (7,803 ) Increase (decrease) in intercompany payables 15,323 84,589 (120,275 ) 24,969 (4,606 ) — Other, net (1,546 ) — — (3,525 ) — (5,071 ) Net cash flows (used in) from financing activities (10,249 ) 61,075 (120,219 ) 28,221 (4,606 ) (45,778 ) NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS — 32,157 (813 ) 8,817 — 40,161 CASH AND CASH EQUIVALENTS, beginning of period — 3,394 1,749 12,539 — 17,682 CASH AND CASH EQUIVALENTS, end of period $ — $ 35,551 $ 936 $ 21,356 $ — $ 57,843

NATURE OF OPERATIONS AND SUMM17

NATURE OF OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	3 Months Ended
	Mar. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of Operations	Nature of Operations Sinclair Broadcast Group, Inc. is a diversified television broadcasting company with national reach with a strong focus on providing high-quality content on our local television stations and digital platforms. The content, distributed through our broadcast platform, consists of programming provided by third-party networks and syndicators, local news, and other original programming produced by us. We also distribute our original programming, and owned and operated network affiliates, on other third-party platforms. Additionally, we own digital media products that are complementary to our extensive portfolio of television station related digital properties. Outside of our media related businesses, we operate technical services companies focused on supply and maintenance of broadcast transmission systems as well as research and development for the advancement of broadcast technology, and we manage other non-media related investments. As of March 31, 2016 , our broadcast distribution platform is a single reportable segment for accounting purposes. It consists primarily of our broadcast television stations, which we own, provide programming and operating services pursuant to local marketing agreements (LMAs), or provide sales services and other non-programming operating services pursuant to other outsourcing agreements (such as joint sales agreements (JSAs) and shares services agreements (SSAs)) to 166 stations in 80 markets. These stations broadcast 471 channels, as of March 31, 2016 . For the purpose of this report, these 166 stations and 471 channels are referred to as “our” stations and channels.
Principles of Consolidation and Interim Financial Statements	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 interest 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 months ended March 31, 2016 and 2015 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, 2015 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	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. Third-party station licensees. Certain of our stations provide services to other station owners within the same respective market through agreements, 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 March 31, 2016 and December 31, 2015 , respectively, 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 6. Related Person Transactions for more information about the arrangements with Cunningham. The net revenues of the stations which we consolidate were $71.6 million and $64.8 million for the three months ended March 31, 2016 and 2015 , 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, Joint Sales Agreements, and Retransmission Consent Negotiations within Note 4. Commitments and Contingencies for discussion of recent changes in FCC rules related to JSAs. 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): March 31, December 31, ASSETS CURRENT ASSETS: Cash and cash equivalents $ 490 $ 490 Accounts receivable 16,800 21,719 Current portion of program contract costs 9,989 13,287 Prepaid expenses and other current assets 390 331 Total current assets 27,669 35,827 PROGRAM CONTRACT COSTS, less current portion 3,570 4,541 PROPERTY AND EQUIPMENT, net 9,224 7,609 GOODWILL 791 787 INDEFINITE-LIVED INTANGIBLE ASSETS 15,684 17,599 DEFINITE-LIVED INTANGIBLE ASSETS, net 84,124 79,086 OTHER ASSETS 6,924 6,924 Total assets $ 147,986 $ 152,373 LIABILITIES CURRENT LIABILITIES: Accounts payable and accrued liabilities $ 1,274 $ 1,240 Current portion of notes payable, capital leases and commercial bank financing 3,694 3,687 Current portion of program contracts payable 10,261 12,627 Total current liabilities 15,229 17,554 LONG-TERM LIABILITIES: Notes payable, capital leases and commercial bank financing, less current portion 23,699 24,594 Program contracts payable, less current portion 12,765 13,679 Other long-term liabilities 9,681 8,067 Total liabilities $ 61,374 $ 63,894 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 total payments made under these LMAs as of March 31, 2016 and December 31, 2015 , which are excluded from liabilities above, were $38.4 million and $37.6 million , respectively. The total capital lease liabilities, net of capital lease assets, excluded from the above were $4.4 million and $4.5 million for March 31, 2016 and December 31, 2015 . Also excluded from the amounts above are liabilities associated with certain outsourcing agreements and purchase options with certain VIEs totaling $78.1 million and $72.5 million as of March 31, 2016 and December 31, 2015 , respectively, as these amounts are eliminated in consolidation. The assets of each of these 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. The risk and reward characteristics of the VIEs are similar. Other investments. We have investments in 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.
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.
Recent Accounting Pronouncements	Recent Accounting Pronouncements In May 2014, the Financial Accounting Standards Board (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 was to be effective for annual reporting periods beginning after December 15, 2016. In August 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 consolidated 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 consolidated 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. The new standard is effective for the interim and annual periods beginning after December 15, 2015. We adopted this revised guidance on a modified retrospective basis during the three months ended March 31, 2016. As disclosed under Other investments under Variable Interest Entities above, the adoption of the revised guidance resulted in additional investments in real estate ventures and investment companies being considered VIEs, however we concluded that we were not the primary beneficiary of these investments. The revised guidance did not have any other impact on our consolidation conclusions. In February 2016, the FASB issued new guidance related to accounting for leases, which requires the assets and liabilities that arise from leases to be recognized on the balance sheet. Currently only capital leases are recorded on the balance sheet. This update will require the lessee to recognize a lease liability equal to the present value of the lease payments and a right-of-use asset representing its right to use the underlying asset for the lease term for all leases longer than 12 months. For leases with a term of 12 months or less, a lessee is permitted to make an accounting policy election by class of underlying asset not to recognize lease assets and liabilities and recognize the lease expense for such leases generally on a straight-line basis over the lease term. This update will be effective for fiscal periods beginning after December 15, 2018, including interim periods within that reporting period. Early adoption is permitted. We are currently evaluating the impact of this guidance on our consolidated financial statements. In March 2016, the FASB issued new guidance that simplifies several aspects of the accounting for employee share-based payment transactions, including the accounting for income tax effects, forfeitures, the impact of employee income tax withholdings and classification of certain related items in the statement of cash flows. We early adopted this guidance effective January 1, 2016, which did not have a material effect on the consolidated financial statements. The adoption of the various changes in the guidance were applied as required by the guidance either on the prospective, modified retrospective, or full retrospective basis. As shown in the consolidated statement of stockholders' equity, upon adoption, we recorded a $0.4 million increase to additional paid in capital and a $1.8 million decrease in accumulated deficit, net of taxes, to record the cumulative effect of changing the classification of certain liability awards to equity classification. Additionally, for the three months ended March 31, 2015, we reclassified $2.2 million from net cash flows from operating activities to net cash flows from financing activities in our consolidated statement of cash flows related to cash payments made to taxing authorities on certain employees' behalf for shares withheld.
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 media revenues and (v) revenues from our other businesses. Advertising revenues, net of agency commissions, are recognized in the period during which advertisements are placed. Some of our retransmission consent agreements contain both advertising and retransmission consent elements. We have determined that these 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 significant revenues are recognized as services are provided.
Income Taxes	Income Taxes Our income tax provision for all periods consists of federal and state income taxes. The tax provision for the three months ended March 31, 2016 and 2015 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 March 31, 2016 was less than the statutory rate primarily due to a Domestic Production Activities Deduction benefit, partially offset by a provision for state taxes. Our effective income tax rate for the three months ended March 31, 2015 exceeded the statutory rate primarily due to an increase in income tax provision resulting from a settlement of a state income tax position. We believe it is reasonably possible that our liability for unrecognized tax benefits related to continuing operations could be reduced by up to $1.3 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	Reclassifications Certain reclassifications have been made to prior years' consolidated financial statements to conform to the current year's presentation.

NATURE OF OPERATIONS AND SUMM18

NATURE OF OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	3 Months Ended
	Mar. 31, 2016
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): March 31, December 31, ASSETS CURRENT ASSETS: Cash and cash equivalents $ 490 $ 490 Accounts receivable 16,800 21,719 Current portion of program contract costs 9,989 13,287 Prepaid expenses and other current assets 390 331 Total current assets 27,669 35,827 PROGRAM CONTRACT COSTS, less current portion 3,570 4,541 PROPERTY AND EQUIPMENT, net 9,224 7,609 GOODWILL 791 787 INDEFINITE-LIVED INTANGIBLE ASSETS 15,684 17,599 DEFINITE-LIVED INTANGIBLE ASSETS, net 84,124 79,086 OTHER ASSETS 6,924 6,924 Total assets $ 147,986 $ 152,373 LIABILITIES CURRENT LIABILITIES: Accounts payable and accrued liabilities $ 1,274 $ 1,240 Current portion of notes payable, capital leases and commercial bank financing 3,694 3,687 Current portion of program contracts payable 10,261 12,627 Total current liabilities 15,229 17,554 LONG-TERM LIABILITIES: Notes payable, capital leases and commercial bank financing, less current portion 23,699 24,594 Program contracts payable, less current portion 12,765 13,679 Other long-term liabilities 9,681 8,067 Total liabilities $ 61,374 $ 63,894

ACQUISITIONS (Tables)

ACQUISITIONS (Tables)	3 Months Ended
	Mar. 31, 2016
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 (in thousands): Cash $ 5,111 Accounts receivable 17,629 Prepaid expenses and other current assets 6,318 Property and equipment 5,964 Definite-lived intangible assets 111,528 Indefinite-lived intangible assets 36,500 Restricted cash 200 Other assets 619 Deferred tax asset 33,678 Accounts payable and accrued liabilities (7,414 ) Capital leases (115 ) Other long term liabilities (1,669 ) Fair value of identifiable net assets acquired 208,349 Goodwill 148,140 Total $ 356,489
Schedule of allocated to definite-lived intangible assets	The following table summarizes the amounts allocated to definite-lived intangible assets representing the estimated fair values (in thousands): Customer relationships $ 107,300 Other intangible assets 4,228 Fair value of identifiable definite-lived intangible assets acquired $ 111,528
Schedule of unaudited pro forma results of operations	The following table sets forth unaudited pro forma results of operations for the three months ended March 31, 2016 and 2015, assuming that Tennis, along with transactions necessary to finance the acquisition, occurred at the beginning of the year preceding the year of acquisition. The pro forma results exclude the acquisition of television station acquisitions discussed below, as they were deemed not material both individually and in the aggregate (in thousands, except per share data): Three months ended March 31, 2016 2015 Total revenues $ 593,381 $ 524,282 Net Income $ 25,822 $ 25,404 Net Income attributable to Sinclair Broadcast Group $ 24,333 $ 24,850 Basic earnings per share attributable to Sinclair Broadcast Group $ 0.26 $ 0.26 Diluted earnings per share attributable to Sinclair Broadcast Group $ 0.25 $ 0.26

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	3 Months Ended
	Mar. 31, 2016
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 2016 2015 Income (Numerator) Net Income $ 25,629 $ 24,836 Net (income) loss attributable to noncontrolling interests (1,489 ) (554 ) Numerator for diluted earnings per common share available to common shareholders $ 24,140 $ 24,282 Shares (Denominator) Weighted-average common shares outstanding 94,701 95,131 Dilutive effect of stock-settled appreciation rights, restricted stock awards and outstanding stock options 913 640 Weighted-average common and common equivalent shares outstanding 95,614 95,771

SEGMENT DATA (Tables)

SEGMENT DATA (Tables)	3 Months Ended
	Mar. 31, 2016
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 March 31, 2016 Broadcast Other Corporate Consolidated Revenue $ 546,833 $ 32,056 $ — $ 578,889 Depreciation of property and equipment 22,748 1,021 266 24,035 Amortization of definite-lived intangible assets and other assets 39,770 3,995 — 43,765 Amortization of program contract costs and net realizable value adjustments 33,460 — — 33,460 General and administrative overhead expenses 20,447 545 349 21,341 Research and development — 1,101 — 1,101 Operating income (loss) 98,041 (11,087 ) (615 ) 86,339 Interest expense 1,482 1,476 46,457 49,415 Income from equity and cost method investments — 423 — 423 Assets 4,807,977 754,875 184,346 5,747,198 For the three months ended March 31, 2015 Broadcast Other Corporate Consolidated Revenue $ 485,052 $ 19,723 $ — $ 504,775 Depreciation of property and equipment 24,177 733 279 25,189 Amortization of definite-lived intangible assets and other assets 37,891 2,089 — 39,980 Amortization of program contract costs and net realizable value adjustments 30,391 — — 30,391 General and administrative overhead expenses 14,907 279 852 16,038 Research and development — 2,515 — 2,515 Operating income (loss) 92,042 (6,364 ) (1,131 ) 84,547 Interest expense — 1,075 45,573 46,648 Income from equity and cost method investments — 3,146 — 3,146

FAIR VALUE MEASUREMENTS_ (Table

FAIR VALUE MEASUREMENTS: (Tables)	3 Months Ended
	Mar. 31, 2016
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 March 31, 2016 As of December 31, 2015 Carrying Value Fair Value Carrying Value Fair Value Level 2: 6.375% Senior Unsecured Notes due 2021 $ 350,000 $ 373,625 $ 350,000 $ 367,325 6.125% Senior Unsecured Notes due 2022 500,000 526,250 500,000 512,500 5.875% Senior Unsecured Notes due 2026 350,000 360,063 — — 5.625% Senior Unsecured Notes due 2024 550,000 559,284 550,000 539,000 5.375% Senior Unsecured Notes due 2021 600,000 619,500 600,000 605,658 Term Loan A 304,433 301,008 313,620 308,916 Term Loan B 1,372,711 1,367,706 1,376,007 1,365,461 Debt of variable interest entities 25,811 25,811 26,682 26,682 Debt of other operating divisions 122,637 122,637 120,969 120,969

CONDENSED CONSOLIDATING FINAN23

CONDENSED CONSOLIDATING FINANCIAL STATEMENTS (Tables)	3 Months Ended
	Mar. 31, 2016
Condensed Financial Information of Parent Company Only Disclosure [Abstract]
Schedule of condensed consolidating balance sheet	CONDENSED CONSOLIDATING BALANCE SHEET AS OF MARCH 31, 2016 (in thousands) (unaudited) Sinclair Sinclair Guarantor Non- Eliminations Sinclair Cash $ — $ 105,318 $ 10,053 $ 26,153 $ — $ 141,524 Accounts receivable 18 — 391,581 26,719 (1,258 ) 417,060 Other current assets 1,787 6,831 97,006 20,871 (2,547 ) 123,948 Total current assets 1,805 112,149 498,640 73,743 (3,805 ) 682,532 Property and equipment, net 2,618 20,224 566,467 143,272 (8,819 ) 723,762 Investment in consolidated subsidiaries 521,328 3,774,538 4,179 — (4,300,045 ) — Goodwill — — 2,077,657 4,279 — 2,081,936 Indefinite-lived intangible assets — — 151,366 15,709 — 167,075 Definite-lived intangible assets — — 1,709,430 214,842 (62,828 ) 1,861,444 Other long-term assets 51,166 726,459 108,028 148,980 (804,184 ) 230,449 Total assets $ 576,917 $ 4,633,370 $ 5,115,767 $ 600,825 $ (5,179,681 ) $ 5,747,198 Accounts payable and accrued liabilities $ 106 $ 73,501 $ 165,791 $ 26,053 $ (3,563 ) $ 261,888 Current portion of long-term debt — 59,938 1,728 106,722 — 168,388 Current portion of affiliate long-term debt 1,701 — 1,450 1,714 (1,503 ) 3,362 Other current liabilities — — 93,742 10,326 — 104,068 Total current liabilities 1,807 133,439 262,711 144,815 (5,066 ) 537,706 Long-term debt — 3,925,163 32,263 41,248 — 3,998,674 Affiliate long-term debt 1,272 — 13,712 372,008 (370,310 ) 16,682 Other liabilities 26,790 30,020 1,049,026 174,761 (606,359 ) 674,238 Total liabilities 29,869 4,088,622 1,357,712 732,832 (981,735 ) 5,227,300 Total Sinclair Broadcast Group equity (deficit) 547,048 544,748 3,758,055 (100,419 ) (4,202,384 ) 547,048 Noncontrolling interests in consolidated subsidiaries — — — (31,588 ) 4,438 (27,150 ) Total liabilities and equity (deficit) $ 576,917 $ 4,633,370 $ 5,115,767 $ 600,825 $ (5,179,681 ) $ 5,747,198 CONDENSED CONSOLIDATING BALANCE SHEET AS OF DECEMBER 31, 2015 (in thousands) Sinclair Sinclair Guarantor Non- Eliminations Sinclair Cash $ — $ 115,771 $ 235 $ 33,966 $ — $ 149,972 Accounts receivable — 1,775 390,142 33,949 (1,258 ) 424,608 Other current assets 3,648 5,172 99,118 23,278 (4,033 ) 127,183 Total current assets 3,648 122,718 489,495 91,193 (5,291 ) 701,763 Property and equipment, net 2,884 20,336 559,042 143,667 (8,792 ) 717,137 Investment in consolidated subsidiaries 497,262 3,430,434 4,179 — (3,931,875 ) — Goodwill — — 1,926,814 4,279 — 1,931,093 Indefinite-lived intangible assets — — 114,841 17,624 — 132,465 Definite-lived intangible assets — — 1,602,454 206,975 (57,859 ) 1,751,570 Other long-term assets 52,128 673,915 110,507 140,910 (779,173 ) 198,287 Total assets $ 555,922 $ 4,247,403 $ 4,807,332 $ 604,648 $ (4,782,990 ) $ 5,432,315 Accounts payable and accrued liabilities $ 104 $ 49,428 $ 179,156 $ 27,462 $ (4,837 ) $ 251,313 Current portion of long-term debt — 57,640 1,611 106,358 (1,425 ) 164,184 Current portion of affiliate long-term debt 1,651 — 1,311 456 (252 ) 3,166 Other current liabilities — — 103,627 12,713 — 116,340 Total current liabilities 1,755 107,068 285,705 146,989 (6,514 ) 535,003 Long-term debt — 3,594,218 32,743 42,199 — 3,669,160 Affiliate long-term debt 1,857 — 14,240 366,042 (364,289 ) 17,850 Other liabilities 26,500 28,866 1,060,211 171,102 (576,055 ) 710,624 Total liabilities 30,112 3,730,152 1,392,899 726,332 (946,858 ) 4,932,637 Total Sinclair Broadcast Group equity (deficit) 525,810 517,251 3,414,433 (91,703 ) (3,839,981 ) 525,810 Noncontrolling interests in consolidated subsidiaries — — — (29,981 ) 3,849 (26,132 ) Total liabilities and equity (deficit) $ 555,922 $ 4,247,403 $ 4,807,332 $ 604,648 $ (4,782,990 ) $ 5,432,315
Schedule of condensed consolidating statement of operations and comprehensive income	CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME FOR THE THREE MONTHS ENDED MARCH 31, 2016 (in thousands) (unaudited) Sinclair Sinclair Guarantor Non- Eliminations Sinclair Net revenue $ — $ — $ 545,113 $ 52,250 $ (18,474 ) $ 578,889 Media production expenses — — 209,725 24,381 (18,229 ) 215,877 Selling, general and administrative 1,002 22,099 111,107 2,162 (20 ) 136,350 Depreciation, amortization and other operating expenses 266 1,190 108,478 30,855 (466 ) 140,323 Total operating expenses 1,268 23,289 429,310 57,398 (18,715 ) 492,550 Operating (loss) income (1,268 ) (23,289 ) 115,803 (5,148 ) 241 86,339 Equity in earnings of consolidated subsidiaries 24,287 74,855 50 — (99,192 ) — Interest expense (94 ) (46,363 ) (1,202 ) (7,897 ) 6,141 (49,415 ) Other income (expense) 1,142 118 (11 ) (364 ) — 885 Total other income (expense) 25,335 28,610 (1,163 ) (8,261 ) (93,051 ) (48,530 ) Income tax benefit (provision) 73 23,103 (38,180 ) 2,824 — (12,180 ) Net income (loss) 24,140 28,424 76,460 (10,585 ) (92,810 ) 25,629 Net income attributable to the noncontrolling interests — — — (899 ) (590 ) (1,489 ) Net income (loss) attributable to Sinclair Broadcast Group $ 24,140 $ 28,424 $ 76,460 $ (11,484 ) $ (93,400 ) $ 24,140 Comprehensive income (loss) $ 24,140 $ 28,424 $ 76,460 $ (10,585 ) $ (92,810 ) $ 25,629 CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME FOR THE THREE MONTHS ENDED MARCH 31, 2015 (in thousands) (unaudited) Sinclair Sinclair Guarantor Non- Eliminations Sinclair Net revenue $ — $ — $ 476,670 $ 47,004 $ (18,899 ) $ 504,775 Media production expenses — — 170,249 19,849 (18,527 ) 171,571 Selling, general and administrative 1,045 14,783 99,723 2,640 88 118,279 Depreciation, amortization and other operating expenses 266 775 101,428 28,250 (341 ) 130,378 Total operating expenses 1,311 15,558 371,400 50,739 (18,780 ) 420,228 Operating (loss) income (1,311 ) (15,558 ) 105,270 (3,735 ) (119 ) 84,547 Equity in earnings of consolidated subsidiaries 24,325 64,465 (50 ) — (88,740 ) — Interest expense (102 ) (43,873 ) (1,176 ) (6,706 ) 5,209 (46,648 ) Other income (expense) 1,350 (154 ) 64 2,104 — 3,364 Total other income (expense) 25,573 20,438 (1,162 ) (4,602 ) (83,531 ) (43,284 ) Income tax benefit (provision) 20 20,615 (38,377 ) 1,315 — (16,427 ) Net income (loss) 24,282 25,495 65,731 (7,022 ) (83,650 ) 24,836 Net income attributable to the noncontrolling interests — — — (554 ) — (554 ) Net income (loss) attributable to Sinclair Broadcast Group $ 24,282 $ 25,495 $ 65,731 $ (7,576 ) $ (83,650 ) $ 24,282 Comprehensive income (loss) $ 24,920 $ 25,579 $ 65,731 $ (7,576 ) $ (83,734 ) $ 24,920
Schedule of condensed consolidating statement of cash flows	CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS FOR THE THREE MONTHS ENDED MARCH 31, 2016 (in thousands) (unaudited) Sinclair Sinclair Guarantor Non- Eliminations Sinclair NET CASH FLOWS FROM(USED IN) OPERATING ACTIVITIES $ 823 $ (20,655 ) $ 145,404 $ 779 $ 7,664 $ 134,015 CASH FLOWS FROM (USED IN) INVESTING ACTIVITIES: Acquisition of property and equipment — (1,479 ) (23,239 ) (1,323 ) 190 (25,851 ) Acquisition of businesses, net of cash acquired — — (374,284 ) (10,375 ) — (384,659 ) Purchase of alarm monitoring contracts — — — (7,017 ) — (7,017 ) Investments in equity and cost method investees — (10,000 ) (47 ) (9,827 ) — (19,874 ) Loans to affiliates — (19,500 ) — — — (19,500 ) Other, net 1,197 — (210 ) 1,278 — 2,265 Net cash flows from (used in) investing activities 1,197 (30,979 ) (397,780 ) (27,264 ) 190 (454,636 ) CASH FLOWS (USED IN) FROM FINANCING ACTIVITIES: Proceeds from notes payable, commercial bank financing and capital leases — 595,000 — 3,850 — 598,850 Repayments of notes payable, commercial bank financing and capital leases — (257,682 ) (461 ) (3,087 ) — (261,230 ) Dividends paid on Class A and Class B Common Stock (15,675 ) — — — — (15,675 ) Increase (decrease) in intercompany payables 15,368 (290,337 ) 262,392 20,489 (7,912 ) — Other, net (1,713 ) (5,800 ) 263 (2,580 ) 58 (9,772 ) Net cash flows (used in) from financing activities (2,020 ) 41,181 262,194 18,672 (7,854 ) 312,173 NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS — (10,453 ) 9,818 (7,813 ) — (8,448 ) CASH AND CASH EQUIVALENTS, beginning of period — 115,771 235 33,966 — 149,972 CASH AND CASH EQUIVALENTS, end of period $ — $ 105,318 $ 10,053 $ 26,153 $ — $ 141,524 CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS FOR THE THREE MONTHS ENDED MARCH 31, 2015 (in thousands) (unaudited) Sinclair Sinclair Guarantor Non- Eliminations Sinclair NET CASH FLOWS (USED IN) FROM OPERATING ACTIVITIES $ 8,824 $ (25,325 ) $ 139,443 $ (13,488 ) $ 4,398 $ 113,852 CASH FLOWS (USED IN) FROM INVESTING ACTIVITIES: Acquisition of property and equipment — (2,912 ) (20,309 ) (635 ) 208 (23,648 ) Payments for acquisition of television stations — — (150 ) — — (150 ) Purchase of alarm monitoring contracts — — — (5,744 ) — (5,744 ) Distributions from equity and costs method investees 1,425 419 — 2,308 — 4,152 Investments in equity and cost method investees — (1,100 ) — (1,845 ) — (2,945 ) Other, net — — 422 — — 422 Net cash flows (used in) from investing activities 1,425 (3,593 ) (20,037 ) (5,916 ) 208 (27,913 ) CASH FLOWS FROM (USED IN) FINANCING ACTIVITIES: Proceeds from notes payable, commercial bank financing and capital leases — — — 7,866 — 7,866 Repayments of notes payable, commercial bank financing and capital leases (508 ) (23,514 ) 56 (1,089 ) — (25,055 ) Dividends paid on Class A and Class B Common Stock (15,715 ) — — — — (15,715 ) Repurchase of outstanding Class A Common Stock (7,803 ) — — — — (7,803 ) Increase (decrease) in intercompany payables 15,323 84,589 (120,275 ) 24,969 (4,606 ) — Other, net (1,546 ) — — (3,525 ) — (5,071 ) Net cash flows (used in) from financing activities (10,249 ) 61,075 (120,219 ) 28,221 (4,606 ) (45,778 ) NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS — 32,157 (813 ) 8,817 — 40,161 CASH AND CASH EQUIVALENTS, beginning of period — 3,394 1,749 12,539 — 17,682 CASH AND CASH EQUIVALENTS, end of period $ — $ 35,551 $ 936 $ 21,356 $ — $ 57,843

NATURE OF OPERATIONS AND SUMM24

NATURE OF OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Nature of Operations (Details)	Mar. 31, 2016channelstationmarket
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of television stations owned (station) | station	166
Number of markets (market) | market	80
Number of channels (channel) | channel	471

NATURE OF OPERATIONS AND SUMM25

NATURE OF OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Variable Interest Entities, Additional Information (Details) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2016USD ($)license	Mar. 31, 2015USD ($)	Dec. 31, 2015USD ($)license
Variable Interest Entity [Line Items]
Media revenues	$ 578,889	$ 504,775
Income from equity and cost method investments	423	3,146
Eliminations
Variable Interest Entity [Line Items]
Media revenues	$ (18,474)	(18,899)
Consolidated VIEs, aggregated
Variable Interest Entity [Line Items]
Initial term of certain outsourcing agreements	5 years
Number of licensees as VIEs (license) | license	37		37
Media revenues	$ 71,600	64,800
Consolidated VIEs | Eliminations
Variable Interest Entity [Line Items]
Liabilities associated with the certain outsourcing agreements and purchase options	78,100		$ 72,500
Consolidated VIEs | Cunningham | Eliminations
Variable Interest Entity [Line Items]
Total payments made under the LMA excluded from liabilities	38,400		37,600
Total capital leased liabilities excluded from VIE consolidation	4,400		4,500
VIEs which are not primary beneficiary
Variable Interest Entity [Line Items]
Carrying amount	103,300		$ 18,100
Income from equity and cost method investments	$ 400	$ 3,300

NATURE OF OPERATIONS AND SUMM26

NATURE OF OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Schedule of Variable Interest Entities Assets and Liabilities (Details) - USD ($) $ in Thousands		Mar. 31, 2016	Dec. 31, 2015	Mar. 31, 2015	Dec. 31, 2014
CURRENT ASSETS:
Cash and cash equivalents		$ 141,524	$ 149,972	$ 57,843	$ 17,682
Accounts receivable		417,060	424,608
Current portion of program contract costs		62,704	91,466
Prepaid expenses and other current assets		52,093	26,903
Total current assets		682,532	701,763
PROGRAM CONTRACT COSTS, less current portion		14,543	18,996
PROPERTY AND EQUIPMENT, net		723,762	717,137
GOODWILL		2,081,936	1,931,093
INDEFINITE-LIVED INTANGIBLE ASSETS		167,075	132,465
DEFINITE-LIVED INTANGIBLE ASSETS, net		1,861,444	1,751,570
OTHER ASSETS		212,906	175,566
Total assets	[1]	5,747,198	5,432,315
CURRENT LIABILITIES:
Current portion of notes payable, capital leases and commercial bank financing		168,388	164,184
Current portion of program contracts payable		85,779	108,260
Total current liabilities		537,706	535,003
LONG-TERM LIABILITIES:
Notes payable, capital leases and commercial bank financing, less current portion		3,998,674	3,669,160
Program contracts payable, less current portion		51,033	56,921
Other long-term liabilities		71,687	68,631
Total liabilities		5,227,300	4,932,637
Consolidated VIEs, aggregated
CURRENT ASSETS:
Cash and cash equivalents		490	490
Accounts receivable		16,800	21,719
Current portion of program contract costs		9,989	13,287
Prepaid expenses and other current assets		390	331
Total current assets		27,669	35,827
PROGRAM CONTRACT COSTS, less current portion		3,570	4,541
PROPERTY AND EQUIPMENT, net		9,224	7,609
GOODWILL		791	787
INDEFINITE-LIVED INTANGIBLE ASSETS		15,684	17,599
DEFINITE-LIVED INTANGIBLE ASSETS, net		84,124	79,086
OTHER ASSETS		6,924	6,924
Total assets		147,986	152,373
CURRENT LIABILITIES:
Accounts payable and accrued liabilities		1,274	1,240
Current portion of notes payable, capital leases and commercial bank financing		3,694	3,687
Current portion of program contracts payable		10,261	12,627
Total current liabilities		15,229	17,554
LONG-TERM LIABILITIES:
Notes payable, capital leases and commercial bank financing, less current portion		23,699	24,594
Program contracts payable, less current portion		12,765	13,679
Other long-term liabilities		9,681	8,067
Total liabilities		$ 61,374	$ 63,894
[1]	Our consolidated total assets as of March 31, 2016 and December 31, 2015 include total assets of variable interest entities (VIEs) of $148.0 million and $152.4 million, respectively, which can only be used to settle the obligations of the VIEs. Our consolidated total liabilities as of March 31, 2016 and December 31, 2015 include total liabilities of the VIEs of $34.0 million and $35.6 million, respectively, for which the creditors of the VIEs have no recourse to us. See Note 1. Nature of Operations and Summary of Significant Accounting Policies.

NATURE OF OPERATIONS AND SUMM27

NATURE OF OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Income Taxes (Details) $ in Millions	12 Months Ended
	Dec. 31, 2016USD ($)
Maximum | Forecast
Income Tax Contingency [Line Items]
Reduction on liability for unrecognized tax benefits	$ 1.3

NATURE OF OPERATIONS AND SUMM28

NATURE OF OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Recent Accounting Pronouncements (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
New Accounting Pronouncement, Early Adoption [Line Items]
Decrease to retained earnings	$ 426,731		$ 437,029
Reclassification from cash provided by (used in) operating activities	(134,015)	$ (113,852)
Reclassification to cash provided by (used in) financing activities	312,173	$ (45,778)
New Accounting Pronouncement, Early Adoption, Effect
New Accounting Pronouncement, Early Adoption [Line Items]
Reclassification from cash provided by (used in) operating activities	2,200
Reclassification to cash provided by (used in) financing activities	2,200
VIEs which are not primary beneficiary
New Accounting Pronouncement, Early Adoption [Line Items]
Carrying amount	103,300		$ 18,100
Additional Paid-In Capital | New Accounting Pronouncement, Early Adoption, Effect
New Accounting Pronouncement, Early Adoption [Line Items]
Increase to additional paid in capital	400
Accumulated Deficit | New Accounting Pronouncement, Early Adoption, Effect
New Accounting Pronouncement, Early Adoption [Line Items]
Decrease to retained earnings	$ 1,800

ACQUISITIONS - 2016 Acquisition

ACQUISITIONS - 2016 Acquisitions Narrative (Details) - USD ($) $ in Thousands	1 Months Ended		3 Months Ended
	May. 31, 2016	Mar. 31, 2016	Mar. 31, 2016	Mar. 31, 2015
Business Acquisition [Line Items]
Acquisition related costs			$ 300
Gain disposition of assets			2,660	$ 22
Business Combination, Pro Forma Information, Revenue of Acquiree since Acquisition Date, Actual			7,600
Business Combination, Pro Forma Information, Earnings or Loss of Acquiree since Acquisition Date, Actual			1,500
Tennis Channel
Business Acquisition [Line Items]
Business combination purchase price		$ 350,000
Working capital adjustment		6,500	6,500
Business Acquisition, Goodwill, Expected Tax Deductible Amount		0	0
Tennis Channel | Customer relationships
Business Acquisition [Line Items]
Amortization period				10 years
Tennis Channel | Other Intangible Assets | Minimum
Business Acquisition [Line Items]
Amortization period				1 year
Tennis Channel | Other Intangible Assets | Maximum
Business Acquisition [Line Items]
Amortization period				10 years
Other Acquisitions In 2016
Business Acquisition [Line Items]
Business combination purchase price		$ 34,200
Gain disposition of assets			$ 2,600
KFXL (FOX) and KHGI, KHGI-LD, KWNB and KWNB-LD (ABC) | Subsequent Event
Business Acquisition [Line Items]
Business combination purchase price	$ 31,300

ACQUISITIONS - Fair Value of Ac

ACQUISITIONS - Fair Value of Acquired Assets and Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Allocated fair value of acquired assets and assumed liabilities
Goodwill	$ 2,081,936	$ 1,931,093
Tennis Channel
Allocated fair value of acquired assets and assumed liabilities
Cash	5,111
Accounts receivable	17,629
Prepaid expenses and other current assets	6,318
Property and equipment	5,964
Definite-lived intangible assets	111,528
Indefinite-lived intangible assets	36,500
Restricted cash	200
Other assets	619
Deferred tax asset	33,678
Accounts payable and accrued liabilities	(7,414)
Capital leases	(115)
Other long term liabilities	(1,669)
Fair value of identifiable net assets acquired	208,349
Goodwill	148,140
Total	$ 356,489

ACQUISITIONS - Fair Value Alloc

ACQUISITIONS - Fair Value Allocation of Assets and Goodwill (Details) - Tennis Channel $ in Thousands	Mar. 31, 2016USD ($)
Business Acquisition [Line Items]
Fair value of identifiable definite-lived intangible assets acquired	$ 111,528
Customer relationships
Business Acquisition [Line Items]
Fair value of identifiable definite-lived intangible assets acquired	107,300
Other intangible assets
Business Acquisition [Line Items]
Fair value of identifiable definite-lived intangible assets acquired	$ 4,228

ACQUISITIONS - Pro Forma Result

ACQUISITIONS - Pro Forma Results (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Pro Forma Information
Total revenues	$ 593,381	$ 524,282
Net Income	25,822	25,404
Net Income attributable to Sinclair Broadcast Group	$ 24,333	$ 24,850
Basic earnings per share attributable to Sinclair Broadcast Group (USD per share)	$ 0.26	$ 0.26
Diluted earnings per share attributable to Sinclair Broadcast Group (USD per share)	$ 0.25	$ 0.26

NOTES PAYABLE AND COMMERCIAL 33

NOTES PAYABLE AND COMMERCIAL BANK FINANCINGS (Details) - USD ($)	Mar. 15, 2021	Mar. 15, 2019	Mar. 23, 2016	Mar. 31, 2016	Dec. 31, 2015
Line of Credit [Member] | Revolving credit facility
Notes Payable And Commercial Bank Financing
Long-term line of credit				$ 0	$ 0
Senior Notes | Senior Unsecured 5.875% Notes [Member]
Notes Payable And Commercial Bank Financing
Debt instrument, face amount			$ 350,000,000
Interest rate			5.875%
Percentage of the price to par value, of debt issued			100.00%
Debt issuance costs incurred			$ 5,900,000
Senior Notes | Senior Unsecured 5.875% Notes [Member] | Forecast
Notes Payable And Commercial Bank Financing
Percentage of the price to par value, of debt issued	100.00%	35.00%
Revolving credit facility | Bank Credit Agreement
Notes Payable And Commercial Bank Financing
Current borrowing capacity				$ 483,100,000

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2016USD ($)	Mar. 31, 2015USD ($)	Apr. 15, 2014station
COMMITMENTS AND CONTINGENCIES
Number of television stations with attributable interest (station) | station			1
Percentage of ad time to be considered an owner			15.00%
Revenue	$ 578,889	$ 504,775
Joint Sales Agreements
COMMITMENTS AND CONTINGENCIES
Revenue	$ 12,200	$ 10,900

EARNINGS PER SHARE (Details)

EARNINGS PER SHARE (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Income (Numerator)
Net Income	$ 25,629	$ 24,836
Net (income) loss attributable to noncontrolling interests	(1,489)	(554)
Numerator for diluted earnings per common share available to common shareholders	$ 24,140	$ 24,282
Shares (Denominator)
Weighted-average common shares outstanding (shares)	94,701,000	95,131,000
Dilutive effect of stock-settled appreciation rights, restricted stock awards and outstanding stock options (shares)	913,000	640,000
Weighted-average common and common equivalent shares outstanding (shares)	95,614,000	95,771,000
Additional Disclosures
Potentially antidilutive dilutive securities excluded from calculation of diluted earnings per share (shares)	407,479	325,000

RELATED PERSON TRANSACTIONS (De

RELATED PERSON TRANSACTIONS (Details)	1 Months Ended		3 Months Ended
	Apr. 30, 2016USD ($)	Jan. 31, 2016USD ($)	Mar. 31, 2016USD ($)real_estate_venturestationrestaurantrenewal	Mar. 31, 2015USD ($)leasereal_estate_venturerestaurant	Dec. 31, 2015leasereal_estate_venture	Jan. 01, 2013USD ($)
Related person transactions
Revenue			$ 578,889,000	$ 504,775,000
Entities owned by the controlling shareholders | Lease Services
Related person transactions
Amount paid			1,200,000	1,400,000
Controlling shareholders | Maximum | Charter Aircraft
Related person transactions
Aircraft expense			$ 400,000	300,000
Affiliated Entity | Cunningham
Related person transactions
Right to acquire capital stock (as a percent)			100.00%
Remaining purchase price			$ 53,600,000
Revenue			25,600,000	21,700,000
Related party promissory note		$ 19,500,000
Loan receivable, interest rate		5.00%
Affiliated Entity | Cunningham | Subsequent Event
Related person transactions
Master control service, contract term	3 years
Proceeds from sale of master control equipment	$ 700,000
Annual revenue from master control services	$ 200,000
Affiliated Entity | Lease Services | Atlantic Automotive Corporation
Related person transactions
Annual rent			400,000	100,000
Affiliated Entity | LMA | Cunningham
Related person transactions
Amount paid			$ 2,200,000	2,300,000
Number of stations to which programming, sales and managerial services were provided by the entity (station) | station			6
Number of additional renewal terms (renewal) | renewal			3
Agreement renewal period			5 years
Affiliated Entity | Minimum | LMA | Cunningham
Related person transactions
Percentage of net broadcast revenue used to determine annual LMA fees required to be paid						3.00%
Amount used to determine annual LMA fees required to be paid						$ 4,700,000
Annual increase in aggregate purchase price						6.00%
Affiliated Entity | Maximum | Advertising time | Atlantic Automotive Corporation
Related person transactions
Amount received			$ 100,000	400,000
Cunningham license related assets | Cunningham
Related person transactions
Agreement renewal period			8 years
Revenue			$ 1,900,000	1,700,000
Amount received			1,400,000	1,300,000
President and Chief Executive Officer | Lease Services
Related person transactions
Payments for services (less than $0.1 million for three months ended 2015)			$ 0	$ 100,000
President and Chief Executive Officer | Lease Services | Real estate ventures in Baltimore, MD
Related person transactions
Number of restaurants owned by a related party (restaurant) | restaurant			3	3
Number of real estate ventures (real_estate_venture) | real_estate_venture			1	1	1
Number of leases (lease) | lease				1	1
President and Chief Executive Officer | Lease Services | Real estate ventures in Towson, MD
Related person transactions
Annual rent			$ 100,000	$ 100,000
President and Chief Executive Officer | Maximum | Lease Services | Real estate ventures in Baltimore, MD
Related person transactions
Amount received			$ 100,000	$ 100,000

SEGMENT DATA - Additional Infor

SEGMENT DATA - Additional Information (Details) $ in Millions	3 Months Ended
	Mar. 31, 2016USD ($)market	Mar. 31, 2015USD ($)
Segment data
Number of markets (market) | market	80
Intercompany loans | $	$ 226.3	$ 207
Intercompany interest expense | $	$ 6.1	$ 5.2
Operating segments | Broadcast
Segment data
Number of markets (market) | market	80

SEGMENT DATA - Segment Financia

SEGMENT DATA - Segment Financial Information (Details) - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
Segment data
Revenue		$ 578,889	$ 504,775
Depreciation of property and equipment		24,035	25,189
Amortization of definite-lived intangible assets and other assets		43,765	39,980
Amortization of program contract costs and net realizable value adjustments		33,460	30,391
General and administrative overhead expenses		21,341	16,038
Research and development expenses		1,101	2,515
Operating income (loss)		86,339	84,547
Interest expense		49,415	46,648
Income from equity and cost method investments		423	3,146
Assets	[1]	5,747,198		$ 5,432,315
Operating segments | Broadcast
Segment data
Revenue		546,833	485,052
Depreciation of property and equipment		22,748	24,177
Amortization of definite-lived intangible assets and other assets		39,770	37,891
Amortization of program contract costs and net realizable value adjustments		33,460	30,391
General and administrative overhead expenses		20,447	14,907
Research and development expenses		0	0
Operating income (loss)		98,041	92,042
Interest expense		1,482	0
Income from equity and cost method investments		0	0
Assets		4,807,977
Operating segments | Other Operating Divisions
Segment data
Revenue		32,056	19,723
Depreciation of property and equipment		1,021	733
Amortization of definite-lived intangible assets and other assets		3,995	2,089
Amortization of program contract costs and net realizable value adjustments		0	0
General and administrative overhead expenses		545	279
Research and development expenses		1,101	2,515
Operating income (loss)		(11,087)	(6,364)
Interest expense		1,476	1,075
Income from equity and cost method investments		423	3,146
Assets		754,875
Corporate
Segment data
Revenue		0	0
Depreciation of property and equipment		266	279
Amortization of definite-lived intangible assets and other assets		0	0
Amortization of program contract costs and net realizable value adjustments		0	0
General and administrative overhead expenses		349	852
Research and development expenses		0	0
Operating income (loss)		(615)	(1,131)
Interest expense		46,457	45,573
Income from equity and cost method investments		0	$ 0
Assets		$ 184,346
[1]	Our consolidated total assets as of March 31, 2016 and December 31, 2015 include total assets of variable interest entities (VIEs) of $148.0 million and $152.4 million, respectively, which can only be used to settle the obligations of the VIEs. Our consolidated total liabilities as of March 31, 2016 and December 31, 2015 include total liabilities of the VIEs of $34.0 million and $35.6 million, respectively, for which the creditors of the VIEs have no recourse to us. See Note 1. Nature of Operations and Summary of Significant Accounting Policies.

FAIR VALUE MEASUREMENTS (Detail

FAIR VALUE MEASUREMENTS (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
6.375% Senior Unsecured Notes due 2021
FAIR VALUE MEASUREMENTS:
Interest rate	6.375%	6.375%
6.125% Senior Unsecured Notes due 2022
FAIR VALUE MEASUREMENTS:
Interest rate	6.125%	6.125%
5.875% Senior Unsecured Notes due 2026
FAIR VALUE MEASUREMENTS:
Interest rate	5.875%
5.625% Senior Unsecured Notes due 2024
FAIR VALUE MEASUREMENTS:
Interest rate	5.625%	5.625%
5.375% Senior Unsecured Notes due 2021
FAIR VALUE MEASUREMENTS:
Interest rate	5.375%	5.375%
Level 2 | Carrying Value | 6.375% Senior Unsecured Notes due 2021
FAIR VALUE MEASUREMENTS:
Debt fair value disclosure	$ 350,000	$ 350,000
Level 2 | Carrying Value | 6.125% Senior Unsecured Notes due 2022
FAIR VALUE MEASUREMENTS:
Debt fair value disclosure	500,000	500,000
Level 2 | Carrying Value | 5.875% Senior Unsecured Notes due 2026
FAIR VALUE MEASUREMENTS:
Debt fair value disclosure	350,000	0
Level 2 | Carrying Value | 5.625% Senior Unsecured Notes due 2024
FAIR VALUE MEASUREMENTS:
Debt fair value disclosure	550,000	550,000
Level 2 | Carrying Value | 5.375% Senior Unsecured Notes due 2021
FAIR VALUE MEASUREMENTS:
Debt fair value disclosure	600,000	600,000
Level 2 | Carrying Value | Term Loan A
FAIR VALUE MEASUREMENTS:
Debt fair value disclosure	304,433	313,620
Level 2 | Carrying Value | Term Loan B
FAIR VALUE MEASUREMENTS:
Debt fair value disclosure	1,372,711	1,376,007
Level 2 | Carrying Value | Debt of variable interest entities
FAIR VALUE MEASUREMENTS:
Debt fair value disclosure	25,811	26,682
Level 2 | Carrying Value | Debt of other operating divisions
FAIR VALUE MEASUREMENTS:
Debt fair value disclosure	122,637	120,969
Level 2 | Fair Value | 6.375% Senior Unsecured Notes due 2021
FAIR VALUE MEASUREMENTS:
Debt fair value disclosure	373,625	367,325
Level 2 | Fair Value | 6.125% Senior Unsecured Notes due 2022
FAIR VALUE MEASUREMENTS:
Debt fair value disclosure	526,250	512,500
Level 2 | Fair Value | 5.875% Senior Unsecured Notes due 2026
FAIR VALUE MEASUREMENTS:
Debt fair value disclosure	360,063	0
Level 2 | Fair Value | 5.625% Senior Unsecured Notes due 2024
FAIR VALUE MEASUREMENTS:
Debt fair value disclosure	559,284	539,000
Level 2 | Fair Value | 5.375% Senior Unsecured Notes due 2021
FAIR VALUE MEASUREMENTS:
Debt fair value disclosure	619,500	605,658
Level 2 | Fair Value | Term Loan A
FAIR VALUE MEASUREMENTS:
Debt fair value disclosure	301,008	308,916
Level 2 | Fair Value | Term Loan B
FAIR VALUE MEASUREMENTS:
Debt fair value disclosure	1,367,706	1,365,461
Level 2 | Fair Value | Debt of variable interest entities
FAIR VALUE MEASUREMENTS:
Debt fair value disclosure	25,811	26,682
Level 2 | Fair Value | Debt of other operating divisions
FAIR VALUE MEASUREMENTS:
Debt fair value disclosure	$ 122,637	$ 120,969

CONDENSED CONSOLIDATING FINAN40

CONDENSED CONSOLIDATING FINANCIAL STATEMENTS - Additional Information (Details) - USD ($) $ in Millions	Mar. 31, 2016	Dec. 31, 2015
Notes Payable And Commercial Bank Financing
Total debt	$ 4,187.1
5.375% Senior Unsecured Notes due 2021
Notes Payable And Commercial Bank Financing
Interest rate	5.375%	5.375%
6.125% Senior Unsecured Notes due 2022
Notes Payable And Commercial Bank Financing
Interest rate	6.125%	6.125%
6.375% Senior Notes due 2021
Notes Payable And Commercial Bank Financing
Interest rate	6.375%	6.375%
5.875% Senior Unsecured Notes due 2026
Notes Payable And Commercial Bank Financing
Interest rate	5.875%
Sinclair Television Group, Inc.
Notes Payable And Commercial Bank Financing
Amount of debt guaranteed by parent	$ 4,061.6
Sinclair Television Group, Inc. | 5.375% Senior Unsecured Notes due 2021
Notes Payable And Commercial Bank Financing
Interest rate	5.375%
Sinclair Television Group, Inc. | 5.625% Senior Unsecured Notes, due 2024
Notes Payable And Commercial Bank Financing
Interest rate	5.625%
Sinclair Television Group, Inc. | 6.125% Senior Unsecured Notes due 2022
Notes Payable And Commercial Bank Financing
Interest rate	6.125%
Sinclair Television Group, Inc. | 6.375% Senior Notes due 2021
Notes Payable And Commercial Bank Financing
Interest rate	6.375%
Sinclair Television Group, Inc. | 5.875% Senior Unsecured Notes due 2026
Notes Payable And Commercial Bank Financing
Interest rate	5.875%
Sinclair Broadcast Group, Inc.
Notes Payable And Commercial Bank Financing
Amount of debt guaranteed by parent	$ 4,010.6
Sinclair Broadcast Group, Inc. | 5.375% Senior Unsecured Notes due 2021
Notes Payable And Commercial Bank Financing
Interest rate	5.375%
Sinclair Broadcast Group, Inc. | 5.625% Senior Unsecured Notes, due 2024
Notes Payable And Commercial Bank Financing
Interest rate	5.625%
Sinclair Broadcast Group, Inc. | 6.125% Senior Unsecured Notes due 2022
Notes Payable And Commercial Bank Financing
Interest rate	6.125%
Sinclair Broadcast Group, Inc. | 6.375% Senior Notes due 2021
Notes Payable And Commercial Bank Financing
Interest rate	6.375%
Sinclair Broadcast Group, Inc. | 5.875% Senior Unsecured Notes due 2026
Notes Payable And Commercial Bank Financing
Interest rate	5.875%

CONDENSED CONSOLIDATING FINAN41

CONDENSED CONSOLIDATING FINANCIAL STATEMENTS - Balance Sheet (Details) - USD ($) $ in Thousands		Mar. 31, 2016	Dec. 31, 2015	Mar. 31, 2015	Dec. 31, 2014
CONDENSED CONSOLIDATING BALANCE SHEET
Cash		$ 141,524	$ 149,972	$ 57,843	$ 17,682
Accounts receivable		417,060	424,608
Other current assets		123,948	127,183
Total current assets		682,532	701,763
Property and equipment, net		723,762	717,137
Investment in consolidated subsidiaries		0	0
Goodwill		2,081,936	1,931,093
INDEFINITE-LIVED INTANGIBLE ASSETS		167,075	132,465
Definite-lived intangible assets		1,861,444	1,751,570
OTHER ASSETS		230,449	198,287
Total assets	[1]	5,747,198	5,432,315
Accounts payable and accrued liabilities		261,888	251,313
Current portion of long-term debt		168,388	164,184
Current portion of affiliate long-term debt		3,362	3,166
Other current liabilities		104,068	116,340
Total current liabilities		537,706	535,003
Long-term debt		3,998,674	3,669,160
Affiliate long-term debt		16,682	17,850
Other long-term liabilities		674,238	710,624
Total liabilities		5,227,300	4,932,637
Total Sinclair Broadcast Group equity (deficit)		547,048	525,810
Noncontrolling interests in consolidated subsidiaries		(27,150)	(26,132)
Total liabilities and equity		5,747,198	5,432,315
Reportable legal entities | Sinclair Broadcast Group, Inc.
CONDENSED CONSOLIDATING BALANCE SHEET
Cash		0	0	0	0
Accounts receivable		18	0
Other current assets		1,787	3,648
Total current assets		1,805	3,648
Property and equipment, net		2,618	2,884
Investment in consolidated subsidiaries		521,328	497,262
Goodwill		0	0
INDEFINITE-LIVED INTANGIBLE ASSETS		0	0
Definite-lived intangible assets		0	0
OTHER ASSETS		51,166	52,128
Total assets		576,917	555,922
Accounts payable and accrued liabilities		106	104
Current portion of long-term debt		0	0
Current portion of affiliate long-term debt		1,701	1,651
Other current liabilities		0	0
Total current liabilities		1,807	1,755
Long-term debt		0	0
Affiliate long-term debt		1,272	1,857
Other long-term liabilities		26,790	26,500
Total liabilities		29,869	30,112
Total Sinclair Broadcast Group equity (deficit)		547,048	525,810
Noncontrolling interests in consolidated subsidiaries		0	0
Total liabilities and equity		576,917	555,922
Reportable legal entities | Sinclair Television Group, Inc.
CONDENSED CONSOLIDATING BALANCE SHEET
Cash		105,318	115,771	35,551	3,394
Accounts receivable		0	1,775
Other current assets		6,831	5,172
Total current assets		112,149	122,718
Property and equipment, net		20,224	20,336
Investment in consolidated subsidiaries		3,774,538	3,430,434
Goodwill		0	0
INDEFINITE-LIVED INTANGIBLE ASSETS		0	0
Definite-lived intangible assets		0	0
OTHER ASSETS		726,459	673,915
Total assets		4,633,370	4,247,403
Accounts payable and accrued liabilities		73,501	49,428
Current portion of long-term debt		59,938	57,640
Current portion of affiliate long-term debt		0	0
Other current liabilities		0	0
Total current liabilities		133,439	107,068
Long-term debt		3,925,163	3,594,218
Affiliate long-term debt		0	0
Other long-term liabilities		30,020	28,866
Total liabilities		4,088,622	3,730,152
Total Sinclair Broadcast Group equity (deficit)		544,748	517,251
Noncontrolling interests in consolidated subsidiaries		0	0
Total liabilities and equity		4,633,370	4,247,403
Reportable legal entities | Guarantor Subsidiaries and KDSM, LLC
CONDENSED CONSOLIDATING BALANCE SHEET
Cash		10,053	235	936	1,749
Accounts receivable		391,581	390,142
Other current assets		97,006	99,118
Total current assets		498,640	489,495
Property and equipment, net		566,467	559,042
Investment in consolidated subsidiaries		4,179	4,179
Goodwill		2,077,657	1,926,814
INDEFINITE-LIVED INTANGIBLE ASSETS		151,366	114,841
Definite-lived intangible assets		1,709,430	1,602,454
OTHER ASSETS		108,028	110,507
Total assets		5,115,767	4,807,332
Accounts payable and accrued liabilities		165,791	179,156
Current portion of long-term debt		1,728	1,611
Current portion of affiliate long-term debt		1,450	1,311
Other current liabilities		93,742	103,627
Total current liabilities		262,711	285,705
Long-term debt		32,263	32,743
Affiliate long-term debt		13,712	14,240
Other long-term liabilities		1,049,026	1,060,211
Total liabilities		1,357,712	1,392,899
Total Sinclair Broadcast Group equity (deficit)		3,758,055	3,414,433
Noncontrolling interests in consolidated subsidiaries		0	0
Total liabilities and equity		5,115,767	4,807,332
Reportable legal entities | Non- Guarantor Subsidiaries
CONDENSED CONSOLIDATING BALANCE SHEET
Cash		26,153	33,966	21,356	12,539
Accounts receivable		26,719	33,949
Other current assets		20,871	23,278
Total current assets		73,743	91,193
Property and equipment, net		143,272	143,667
Investment in consolidated subsidiaries		0	0
Goodwill		4,279	4,279
INDEFINITE-LIVED INTANGIBLE ASSETS		15,709	17,624
Definite-lived intangible assets		214,842	206,975
OTHER ASSETS		148,980	140,910
Total assets		600,825	604,648
Accounts payable and accrued liabilities		26,053	27,462
Current portion of long-term debt		106,722	106,358
Current portion of affiliate long-term debt		1,714	456
Other current liabilities		10,326	12,713
Total current liabilities		144,815	146,989
Long-term debt		41,248	42,199
Affiliate long-term debt		372,008	366,042
Other long-term liabilities		174,761	171,102
Total liabilities		732,832	726,332
Total Sinclair Broadcast Group equity (deficit)		(100,419)	(91,703)
Noncontrolling interests in consolidated subsidiaries		(31,588)	(29,981)
Total liabilities and equity		600,825	604,648
Eliminations
CONDENSED CONSOLIDATING BALANCE SHEET
Cash		0	0	$ 0	$ 0
Accounts receivable		(1,258)	(1,258)
Other current assets		(2,547)	(4,033)
Total current assets		(3,805)	(5,291)
Property and equipment, net		(8,819)	(8,792)
Investment in consolidated subsidiaries		(4,300,045)	(3,931,875)
Goodwill		0	0
INDEFINITE-LIVED INTANGIBLE ASSETS		0	0
Definite-lived intangible assets		(62,828)	(57,859)
OTHER ASSETS		(804,184)	(779,173)
Total assets		(5,179,681)	(4,782,990)
Accounts payable and accrued liabilities		(3,563)	(4,837)
Current portion of long-term debt		0	(1,425)
Current portion of affiliate long-term debt		(1,503)	(252)
Other current liabilities		0	0
Total current liabilities		(5,066)	(6,514)
Long-term debt		0	0
Affiliate long-term debt		(370,310)	(364,289)
Other long-term liabilities		(606,359)	(576,055)
Total liabilities		(981,735)	(946,858)
Total Sinclair Broadcast Group equity (deficit)		(4,202,384)	(3,839,981)
Noncontrolling interests in consolidated subsidiaries		4,438	3,849
Total liabilities and equity		$ (5,179,681)	$ (4,782,990)
[1]	Our consolidated total assets as of March 31, 2016 and December 31, 2015 include total assets of variable interest entities (VIEs) of $148.0 million and $152.4 million, respectively, which can only be used to settle the obligations of the VIEs. Our consolidated total liabilities as of March 31, 2016 and December 31, 2015 include total liabilities of the VIEs of $34.0 million and $35.6 million, respectively, for which the creditors of the VIEs have no recourse to us. See Note 1. Nature of Operations and Summary of Significant Accounting Policies.

CONDENSED CONSOLIDATING FINAN42

CONDENSED CONSOLIDATING FINANCIAL STATEMENTS - Statement of Operations and Comprehensive Income (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME
Revenue	$ 578,889	$ 504,775
Program and production	215,877	171,571
Selling, general and administrative	136,350	118,279
Depreciation, amortization and other operating expenses	140,323	130,378
Total operating expenses	492,550	420,228
Operating income	86,339	84,547
Equity in earnings of consolidated subsidiaries	0	0
Interest expense	(49,415)	(46,648)
Other income (expense)	885	3,364
Total other expense, net	(48,530)	(43,284)
Income tax benefit (provision)	(12,180)	(16,427)
NET INCOME	25,629	24,836
Net income attributable to the noncontrolling interests	(1,489)	(554)
NET INCOME ATTRIBUTABLE TO SINCLAIR BROADCAST GROUP	24,140	24,282
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest	25,629	24,920
Reportable legal entities | Sinclair Broadcast Group, Inc.
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME
Revenue	0	0
Program and production	0	0
Selling, general and administrative	1,002	1,045
Depreciation, amortization and other operating expenses	266	266
Total operating expenses	1,268	1,311
Operating income	(1,268)	(1,311)
Equity in earnings of consolidated subsidiaries	24,287	24,325
Interest expense	(94)	(102)
Other income (expense)	1,142	1,350
Total other expense, net	25,335	25,573
Income tax benefit (provision)	73	20
NET INCOME	24,140	24,282
Net income attributable to the noncontrolling interests	0	0
NET INCOME ATTRIBUTABLE TO SINCLAIR BROADCAST GROUP	24,140	24,282
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest	24,140	24,920
Reportable legal entities | Sinclair Television Group, Inc.
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME
Revenue	0	0
Program and production	0	0
Selling, general and administrative	22,099	14,783
Depreciation, amortization and other operating expenses	1,190	775
Total operating expenses	23,289	15,558
Operating income	(23,289)	(15,558)
Equity in earnings of consolidated subsidiaries	74,855	64,465
Interest expense	(46,363)	(43,873)
Other income (expense)	118	(154)
Total other expense, net	28,610	20,438
Income tax benefit (provision)	23,103	20,615
NET INCOME	28,424	25,495
Net income attributable to the noncontrolling interests	0	0
NET INCOME ATTRIBUTABLE TO SINCLAIR BROADCAST GROUP	28,424	25,495
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest	28,424	25,579
Reportable legal entities | Guarantor Subsidiaries and KDSM, LLC
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME
Revenue	545,113	476,670
Program and production	209,725	170,249
Selling, general and administrative	111,107	99,723
Depreciation, amortization and other operating expenses	108,478	101,428
Total operating expenses	429,310	371,400
Operating income	115,803	105,270
Equity in earnings of consolidated subsidiaries	50	(50)
Interest expense	(1,202)	(1,176)
Other income (expense)	(11)	64
Total other expense, net	(1,163)	(1,162)
Income tax benefit (provision)	(38,180)	(38,377)
NET INCOME	76,460	65,731
Net income attributable to the noncontrolling interests	0	0
NET INCOME ATTRIBUTABLE TO SINCLAIR BROADCAST GROUP	76,460	65,731
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest	76,460	65,731
Reportable legal entities | Non- Guarantor Subsidiaries
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME
Revenue	52,250	47,004
Program and production	24,381	19,849
Selling, general and administrative	2,162	2,640
Depreciation, amortization and other operating expenses	30,855	28,250
Total operating expenses	57,398	50,739
Operating income	(5,148)	(3,735)
Equity in earnings of consolidated subsidiaries	0	0
Interest expense	(7,897)	(6,706)
Other income (expense)	(364)	2,104
Total other expense, net	(8,261)	(4,602)
Income tax benefit (provision)	2,824	1,315
NET INCOME	(10,585)	(7,022)
Net income attributable to the noncontrolling interests	(899)	(554)
NET INCOME ATTRIBUTABLE TO SINCLAIR BROADCAST GROUP	(11,484)	(7,576)
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest	(10,585)	(7,576)
Eliminations
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME
Revenue	(18,474)	(18,899)
Program and production	(18,229)	(18,527)
Selling, general and administrative	(20)	88
Depreciation, amortization and other operating expenses	(466)	(341)
Total operating expenses	(18,715)	(18,780)
Operating income	241	(119)
Equity in earnings of consolidated subsidiaries	(99,192)	(88,740)
Interest expense	6,141	5,209
Other income (expense)	0	0
Total other expense, net	(93,051)	(83,531)
Income tax benefit (provision)	0	0
NET INCOME	(92,810)	(83,650)
Net income attributable to the noncontrolling interests	(590)	0
NET INCOME ATTRIBUTABLE TO SINCLAIR BROADCAST GROUP	(93,400)	(83,650)
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest	$ (92,810)	$ (83,734)

CONDENSED CONSOLIDATING FINAN43

CONDENSED CONSOLIDATING FINANCIAL STATEMENTS - Statement of Cash Flow (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME
NET CASH FLOWS FROM(USED IN) OPERATING ACTIVITIES	$ 134,015	$ 113,852
CASH FLOWS FROM (USED IN) INVESTING ACTIVITIES:
Acquisition of property and equipment	(25,851)	(23,648)
Acquisition of businesses, net of cash acquired	(384,659)	(150)
Purchase of alarm monitoring contracts	(7,017)	(5,744)
Distributions from equity and costs method investees		4,152
Investments in equity and cost method investees	(19,874)	(2,945)
Loans to affiliates	(19,500)	0
Other, net	2,265	422
Net cash flows used in investing activities	(454,636)	(27,913)
CASH FLOWS FROM (USED IN) FINANCING ACTIVITIES:
Proceeds from notes payable and commercial bank financing	598,850	7,866
Repayments of notes payable, commercial bank financing and capital leases	(261,230)	(25,055)
Dividends paid on Class A and Class B common stock	(15,675)	(15,715)
Increase (decrease) in intercompany payables	0
Repurchase of outstanding Class A Common Stock	0	(7,803)
Increase (decrease) in intercompany payables		0
Other, net	(9,772)	(5,071)
Net cash flows from (used in) financing activities	312,173	(45,778)
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS	(8,448)	40,161
CASH AND CASH EQUIVALENTS, beginning of period	149,972	17,682
CASH AND CASH EQUIVALENTS, end of period	141,524	57,843
Reportable legal entities | Sinclair Broadcast Group, Inc.
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME
NET CASH FLOWS FROM(USED IN) OPERATING ACTIVITIES	823	8,824
CASH FLOWS FROM (USED IN) INVESTING ACTIVITIES:
Acquisition of property and equipment	0	0
Acquisition of businesses, net of cash acquired	0	0
Purchase of alarm monitoring contracts	0	0
Distributions from equity and costs method investees		1,425
Investments in equity and cost method investees	0	0
Loans to affiliates	0
Other, net	1,197	0
Net cash flows used in investing activities	1,197	1,425
CASH FLOWS FROM (USED IN) FINANCING ACTIVITIES:
Proceeds from notes payable and commercial bank financing	0	0
Repayments of notes payable, commercial bank financing and capital leases	0	(508)
Dividends paid on Class A and Class B common stock	(15,675)	(15,715)
Increase (decrease) in intercompany payables	15,368
Repurchase of outstanding Class A Common Stock		(7,803)
Increase (decrease) in intercompany payables		15,323
Other, net	(1,713)	(1,546)
Net cash flows from (used in) financing activities	(2,020)	(10,249)
NET (DECREASE) 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 FROM(USED IN) OPERATING ACTIVITIES	(20,655)	(25,325)
CASH FLOWS FROM (USED IN) INVESTING ACTIVITIES:
Acquisition of property and equipment	(1,479)	(2,912)
Acquisition of businesses, net of cash acquired	0	0
Purchase of alarm monitoring contracts	0	0
Distributions from equity and costs method investees		419
Investments in equity and cost method investees	(10,000)	(1,100)
Loans to affiliates	(19,500)
Other, net	0	0
Net cash flows used in investing activities	(30,979)	(3,593)
CASH FLOWS FROM (USED IN) FINANCING ACTIVITIES:
Proceeds from notes payable and commercial bank financing	595,000	0
Repayments of notes payable, commercial bank financing and capital leases	(257,682)	(23,514)
Dividends paid on Class A and Class B common stock	0	0
Increase (decrease) in intercompany payables	(290,337)
Repurchase of outstanding Class A Common Stock		0
Increase (decrease) in intercompany payables		84,589
Other, net	(5,800)	0
Net cash flows from (used in) financing activities	41,181	61,075
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS	(10,453)	32,157
CASH AND CASH EQUIVALENTS, beginning of period	115,771	3,394
CASH AND CASH EQUIVALENTS, end of period	105,318	35,551
Reportable legal entities | Guarantor Subsidiaries and KDSM, LLC
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME
NET CASH FLOWS FROM(USED IN) OPERATING ACTIVITIES	145,404	139,443
CASH FLOWS FROM (USED IN) INVESTING ACTIVITIES:
Acquisition of property and equipment	(23,239)	(20,309)
Acquisition of businesses, net of cash acquired	(374,284)	(150)
Purchase of alarm monitoring contracts	0	0
Distributions from equity and costs method investees		0
Investments in equity and cost method investees	(47)	0
Loans to affiliates	0
Other, net	(210)	422
Net cash flows used in investing activities	(397,780)	(20,037)
CASH FLOWS FROM (USED IN) FINANCING ACTIVITIES:
Proceeds from notes payable and commercial bank financing	0	0
Repayments of notes payable, commercial bank financing and capital leases	(461)	56
Dividends paid on Class A and Class B common stock	0	0
Increase (decrease) in intercompany payables	262,392
Repurchase of outstanding Class A Common Stock		0
Increase (decrease) in intercompany payables		(120,275)
Other, net	263	0
Net cash flows from (used in) financing activities	262,194	(120,219)
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS	9,818	(813)
CASH AND CASH EQUIVALENTS, beginning of period	235	1,749
CASH AND CASH EQUIVALENTS, end of period	10,053	936
Reportable legal entities | Non- Guarantor Subsidiaries
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME
NET CASH FLOWS FROM(USED IN) OPERATING ACTIVITIES	779	(13,488)
CASH FLOWS FROM (USED IN) INVESTING ACTIVITIES:
Acquisition of property and equipment	(1,323)	(635)
Acquisition of businesses, net of cash acquired	(10,375)	0
Purchase of alarm monitoring contracts	(7,017)	(5,744)
Distributions from equity and costs method investees		2,308
Investments in equity and cost method investees	(9,827)	(1,845)
Loans to affiliates	0
Other, net	1,278	0
Net cash flows used in investing activities	(27,264)	(5,916)
CASH FLOWS FROM (USED IN) FINANCING ACTIVITIES:
Proceeds from notes payable and commercial bank financing	3,850	7,866
Repayments of notes payable, commercial bank financing and capital leases	(3,087)	(1,089)
Dividends paid on Class A and Class B common stock	0	0
Increase (decrease) in intercompany payables	20,489
Repurchase of outstanding Class A Common Stock		0
Increase (decrease) in intercompany payables		24,969
Other, net	(2,580)	(3,525)
Net cash flows from (used in) financing activities	18,672	28,221
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS	(7,813)	8,817
CASH AND CASH EQUIVALENTS, beginning of period	33,966	12,539
CASH AND CASH EQUIVALENTS, end of period	26,153	21,356
Eliminations
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME
NET CASH FLOWS FROM(USED IN) OPERATING ACTIVITIES	7,664	4,398
CASH FLOWS FROM (USED IN) INVESTING ACTIVITIES:
Acquisition of property and equipment	190	208
Acquisition of businesses, net of cash acquired	0	0
Purchase of alarm monitoring contracts	0	0
Distributions from equity and costs method investees		0
Investments in equity and cost method investees	0	0
Loans to affiliates	0
Other, net	0	0
Net cash flows used in investing activities	190	208
CASH FLOWS FROM (USED IN) FINANCING ACTIVITIES:
Proceeds from notes payable and commercial bank financing	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
Increase (decrease) in intercompany payables	(7,912)
Repurchase of outstanding Class A Common Stock		0
Increase (decrease) in intercompany payables		(4,606)
Other, net	58	0
Net cash flows from (used in) financing activities	(7,854)	(4,606)
NET (DECREASE) 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