Sinclair Broadcast (SBGI) 10-Q 9 Aug 17 2017 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2017	Aug. 04, 2017
Entity Information [Line Items]
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	Jun. 30, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q2
Amendment Flag	false
Class A Common Stock
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding (shares)		77,029,824
Class B Common Stock
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding (shares)		25,670,684

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands		Jun. 30, 2017	Dec. 31, 2016
CURRENT ASSETS:
Cash and cash equivalents		$ 796,047	$ 259,984
Restricted cash		2,000	200
Accounts receivable, net of allowance for doubtful accounts of $2,621 and $2,124, respectively		537,286	513,954
Current portion of program contract costs		28,267	83,601
Income taxes receivable		11,670	5,500
Prepaid expenses and other current assets		36,343	36,067
Deferred barter costs		10,829	5,782
Total current assets		1,422,442	905,088
PROGRAM CONTRACT COSTS, less current portion		5,080	8,919
PROPERTY AND EQUIPMENT, net		705,483	717,576
RESTRICTED CASH		1,496	0
GOODWILL		2,002,809	1,990,746
INDEFINITE-LIVED INTANGIBLE ASSETS		160,357	156,306
DEFINITE-LIVED INTANGIBLE ASSETS, net		1,725,508	1,944,403
NOTES RECEIVABLE FROM AFFILIATES		19,500	19,500
OTHER ASSETS		246,861	220,630
Total assets	[1]	6,289,536	5,963,168
CURRENT LIABILITIES:
Accounts payable and accrued liabilities		290,758	322,505
Income taxes payable		0	23,491
Current portion of notes payable, capital leases and commercial bank financing		168,279	171,131
Current portion of notes and capital leases payable to affiliates		2,424	3,604
Current portion of program contracts payable		65,102	109,702
Deferred barter revenues		10,925	6,040
Total current liabilities		537,488	636,473
LONG-TERM LIABILITIES:
Notes payable, capital leases and commercial bank financing, less current portion		3,884,159	4,014,932
Notes payable and capital leases to affiliates, less current portion		13,213	14,181
Program contracts payable, less current portion		42,072	53,836
Deferred tax liabilities		601,078	609,317
Other long-term liabilities		86,554	76,493
Total liabilities	[1]	5,164,564	5,405,232
COMMITMENTS AND CONTINGENCIES (See Note 4)
SINCLAIR BROADCAST GROUP SHAREHOLDERS’ EQUITY:
Additional paid-in capital		1,346,657	843,691
Accumulated deficit		(188,701)	(255,804)
Accumulated other comprehensive loss		(807)	(807)
Total Sinclair Broadcast Group shareholders’ equity		1,158,176	587,983
Noncontrolling interests		(33,204)	(30,047)
Total equity		1,124,972	557,936
Total liabilities and equity		6,289,536	5,963,168
Assets of variable interest entities		134,700	142,300
Liabilities of variable interest entities		29,400	40,900
Class A Common Stock
SINCLAIR BROADCAST GROUP SHAREHOLDERS’ EQUITY:
Common Stock		770	646
Class B Common Stock
SINCLAIR BROADCAST GROUP SHAREHOLDERS’ EQUITY:
Common Stock		$ 257	$ 257
[1]	Our consolidated total assets as of June 30, 2017 and December 31, 2016 include total assets of variable interest entities (VIEs) of $134.7 million and $142.3 million, respectively, which can only be used to settle the obligations of the VIEs. Our consolidated total liabilities as of June 30, 2017 and December 31, 2016 include total liabilities of the VIEs of $29.4 million and $40.9 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	Jun. 30, 2017	Dec. 31, 2016
Accounts receivable, allowance for doubtful accounts	$ 2,621	$ 2,124
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)	76,993,826	64,558,207
Common Stock, shares outstanding (shares)	76,993,826	64,558,207
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)	25,670,684	25,670,684
Common Stock, shares outstanding (shares)	25,670,684	25,670,684

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
REVENUES:
Media revenues	$ 631,822	$ 606,268	$ 1,234,308	$ 1,137,591
Revenues realized from station barter arrangements	32,460	34,003	60,030	60,513
Other non-media revenues	15,008	26,263	34,887	47,319
Total revenues	679,290	666,534	1,329,225	1,245,423
OPERATING EXPENSES:
Media production expenses	268,992	243,620	527,147	459,497
Media selling, general and administrative expenses	127,046	128,488	251,767	243,497
Expenses realized from barter arrangements	27,550	29,259	50,795	52,184
Amortization of program contract costs and net realizable value adjustments	28,896	30,821	59,915	64,281
Other non-media expenses	14,731	19,761	31,976	37,458
Depreciation of property and equipment	23,603	24,409	47,584	48,444
Corporate general and administrative expenses	25,051	14,279	45,627	35,620
Amortization of definite-lived intangible and other assets	43,377	45,625	88,931	89,390
Research and development expenses	1,345	1,209	2,502	2,310
Gain on asset dispositions	(150)	(11)	(53,497)	(2,671)
Total operating expenses	560,441	537,460	1,052,747	1,030,010
Operating income	118,849	129,074	276,478	215,413
OTHER INCOME (EXPENSE):
Interest expense and amortization of debt discount and deferred financing costs	(50,959)	(53,916)	(108,277)	(103,331)
Loss from extinguishment of debt	0	0	(1,404)	0
Income from equity and cost method investments	1,462	943	141	1,366
Other income, net	1,563	1,104	3,259	1,566
Total other expense, net	(47,934)	(51,869)	(106,281)	(100,399)
Income before income taxes	70,915	77,205	170,197	115,014
INCOME TAX PROVISION	(24,880)	(26,605)	(53,459)	(38,785)
NET INCOME	46,035	50,600	116,738	76,229
Net income attributable to the noncontrolling interests	(1,390)	(1,181)	(14,891)	(2,670)
NET INCOME ATTRIBUTABLE TO SINCLAIR BROADCAST GROUP	$ 44,645	$ 49,419	$ 101,847	$ 73,559
Dividends declared per share (USD per share)	$ 0.180	$ 0.180	$ 0.360	$ 0.345
BASIC AND DILUTED EARNINGS PER COMMON SHARE ATTRIBUTABLE TO SINCLAIR BROADCAST GROUP:
Basic earnings per share (USD per share)	0.43	0.52	1.04	0.77
Diluted earnings per share (USD per share)	$ 0.43	$ 0.52	$ 1.03	$ 0.77
Weighted average common shares outstanding (shares)	102,649	95,026	97,668	94,922
Weighted average common and common equivalent shares outstanding (shares)	103,665	95,934	98,707	95,819

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Statement of Comprehensive Income [Abstract]
Net income	$ 46,035	$ 50,600	$ 116,738	$ 76,229
Comprehensive income	46,035	50,600	116,738	76,229
Comprehensive income attributable to the noncontrolling interests	(1,390)	(1,181)	(14,891)	(2,670)
Comprehensive income attributable to Sinclair Broadcast Group	$ 44,645	$ 49,419	$ 101,847	$ 73,559

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
Increase (Decrease) in Stockholders' Equity
Cumulative effect of adoption of new accounting standards	$ 2,264	$ 431	$ 1,833
BALANCE (shares) at Dec. 31, 2015							68,792,483		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	(32,781)		(32,781)
Repurchases of Class A Common Stock (in shares)							(384,700)
Repurchases of Class A Common Stock	(11,247)	(11,243)					$ (4)
Class A Common Stock issued pursuant to employee benefit plans (shares)							327,167
Repurchases of Class A Common Stock	12,907	12,904					$ 3
Distributions to noncontrolling interests	(4,370)				(4,370)
Issuance of subsidiary stock awards	214				214
Net income	76,229		73,559		2,670
BALANCE (shares) at Jun. 30, 2016							68,734,950		25,928,357
BALANCE at Jun. 30, 2016	542,894	964,818	(394,418)	(834)	(27,618)		$ 687		$ 259
BALANCE (shares) at Dec. 31, 2016						64,558,207	64,558,207	25,670,684	25,670,684
BALANCE at Dec. 31, 2016	557,936	843,691	(255,804)	(807)	(30,047)		$ 646		$ 257
Increase (Decrease) in Stockholders' Equity
Dividends declared and paid on Class A and Class B Common Stock	(34,744)		(34,744)
Class A Common Stock issued pursuant to employee benefit plans (shares)							435,619
Repurchases of Class A Common Stock	15,207	15,203					$ 4
Distributions to noncontrolling interests	(18,048)				(18,048)
Issuance of common stock, net of issuance costs (in shares)							12,000,000
Issuance of common stock, net of issuance costs	487,883	487,763					$ 120
Net income	116,738		101,847		14,891
BALANCE (shares) at Jun. 30, 2017						76,993,826	76,993,826	25,670,684	25,670,684
BALANCE at Jun. 30, 2017	$ 1,124,972	$ 1,346,657	$ (188,701)	$ (807)	$ (33,204)		$ 770		$ 257

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
CASH FLOWS FROM (USED IN) OPERATING ACTIVITIES:
Net income	$ 116,738	$ 76,229
Adjustments to reconcile net income to net cash flows from operating activities:
Depreciation of property and equipment	47,584	48,444
Amortization of definite-lived intangible and other assets	88,931	89,390
Amortization of program contract costs and net realizable value adjustments	59,915	64,281
Loss on extinguishment of debt, non-cash portion	(1,404)	0
Stock-based compensation expense	11,448	9,969
Deferred tax benefit	(8,211)	(2,797)
Change in assets and liabilities, net of acquisitions:
Increase in accounts receivable	(26,295)	(46,242)
Increase in prepaid expenses and other current assets	(694)	(5,617)
(Decrease) increase in accounts payable and accrued liabilities	(23,410)	18,903
Net change in net income taxes payable/receivable	(29,661)	9,389
Payments on program contracts payable	(57,152)	(57,242)
Gain on asset dispositions	(53,497)	(2,671)
Other, net	14,382	7,622
Net cash flows from operating activities	141,482	209,658
CASH FLOWS FROM (USED IN) INVESTING ACTIVITIES:
Acquisition of property and equipment	(33,507)	(49,786)
Acquisition of businesses, net of cash acquired	(28,329)	(423,104)
Purchase of alarm monitoring contracts	(5,682)	(21,616)
Proceeds from sale of non-media business	192,639	0
Investments in equity and cost method investees	(20,690)	(21,843)
Loans to affiliates	0	(19,500)
Other, net	(3,064)	7,399
Net cash flows from (used in) investing activities	101,367	(528,450)
CASH FLOWS FROM (USED IN) FINANCING ACTIVITIES:
Proceeds from notes payable and commercial bank financing	163,089	607,555
Repayments of notes payable, commercial bank financing and capital leases	(301,168)	(279,575)
Proceeds from the sale of Class A Common Stock	487,883	0
Dividends paid on Class A and Class B Common Stock	(34,744)	(32,781)
Distributions to noncontrolling interests	(18,048)	(4,170)
Repurchase of outstanding Class A Common Stock	0	11,247
Other, net	(3,798)	(7,235)
Net cash flows from financing activities	293,214	272,547
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	536,063	(46,245)
CASH AND CASH EQUIVALENTS, beginning of period	259,984	149,972
CASH AND CASH EQUIVALENTS, end of period	$ 796,047	$ 103,727

NATURE OF OPERATIONS AND SUMMAR

NATURE OF OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
	Jun. 30, 2017
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. (the Company) is a diversified television broadcasting company with national reach and 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 June 30, 2017 , 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 agreements commonly referred to as 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 shared services agreements (SSAs)) to 173 stations in 81 markets. These stations broadcast 528 channels, as of June 30, 2017 . For the purpose of this report, these 173 stations and 528 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 and six months ended June 30, 2017 and 2016 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, 2016 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. 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 when, 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 we absorb losses and returns that would be considered significant to the VIEs. The fees paid between us and the licensees pursuant to these arrangements are eliminated in consolidation. Several of these VIEs are owned by a related party, Cunningham Broadcasting Corporation (Cunningham). See Note 7. Related Person Transactions for more information about the arrangements with Cunningham. See Changes in the Rules of Television Ownership, Joint Sales Agreements, Retransmission Consent Negotiations, and National Ownership Cap within Note 4. Commitments and Contingencies for discussion of recent changes in Federal Communications Commission (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): June 30, December 31, ASSETS CURRENT ASSETS: Accounts receivable 21,725 21,879 Other current assets 4,991 12,076 Total current assets 26,716 33,955 PROGRAM CONTRACT COSTS, less current portion 1,171 2,468 PROPERTY AND EQUIPMENT, net 6,620 2,996 GOODWILL AND INDEFINITE-LIVED INTANGIBLE ASSETS 16,475 16,475 DEFINITE-LIVED INTANGIBLE ASSETS, net 78,134 79,509 OTHER ASSETS 5,601 6,871 Total assets $ 134,717 $ 142,274 LIABILITIES CURRENT LIABILITIES: Other current liabilities $ 14,692 $ 18,992 LONG-TERM LIABILITIES: Notes payable, capital leases and commercial bank financing, less current portion 18,088 19,449 Program contracts payable, less current portion 10,885 14,353 Other long-term liabilities 8,842 12,921 Total liabilities $ 52,507 $ 65,715 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 LMAs and certain outsourcing agreements 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 and certain JSAs as of June 30, 2017 and December 31, 2016 , which are excluded from liabilities above, were $42.4 million and $40.8 million , respectively. The total capital lease liabilities, net of capital lease assets, excluded from the above were $4.5 million for both the years ended June 30, 2017 and December 31, 2016 , respectively. Also excluded from the amounts above are liabilities associated with certain outsourcing agreements and purchase options with certain VIEs totaling $76.7 million and $74.5 million as of June 30, 2017 and December 31, 2016 , 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 June 30, 2017 and December 31, 2016 are $109.0 million and $117.0 million , respectively, and are included in other assets in the consolidated balance sheets. Our maximum exposure is equal to the carrying value of our investments. The income and loss related to these investments are recorded in income from equity and cost method investments in the consolidated statement of operations. We recorded income of $3.8 million and $3.5 million for the three and six months ended June 30, 2017 , and $0.9 million and $1.2 million for the three and six months ended June 30, 2016 , 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 will be effective for annual reporting periods beginning after December 15, 2017. The standard permits the use of either the retrospective or cumulative effect transition method. Since ASU 2014-09 was issued, several additional ASUs have been issued and incorporated within ASC 606 to clarify various elements of the guidance. We do not currently believe that the adoption of this guidance will have a material impact on our station advertising or retransmission consent revenue; however, we have not finalized our assessment of the impact of this guidance on our consolidated financial statements. 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 new guidance 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 August 2016, the FASB issued new guidance related to the classification of certain cash receipts and cash payments. The new standard, which includes eight specific cash flow issues with the objective of reducing the existing diversity in practice as to how cash receipts and cash payments are represented in the statement of cash flow. The new standard is effective for fiscal year beginning after December 15, 2017, including the 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 October 2016, the FASB issued new guidance related to the accounting for income tax consequences of intra-entity transfers of assets other than inventory. Currently the recognition of current and deferred income taxes for an intra-entity are prohibited until the asset has been sold to an outside party. This update requires an entity to recognize the income tax consequences of an intra-entity transfer of an asset other than inventory when the transfer occurs. We adopted this guidance during the first quarter of 2017. The impact of the adoption did not have a material impact on our financial statements. In October 2016, the FASB issued new guidance which relates to related party considerations in the variable interest entities assessment. The new standard is effective for the interim and annual periods beginning after December 15, 2017. We adopted this guidance during the first quarter of 2017. The impact of the adoption did not have a material impact on our financial statements. In November 2016, FASB issued new guidance related to the classification and presentation of changes in restricted cash on the statement of cash flows. This new standard requires that a statement of cash flow explain change during the period in the total of cash, cash equivalents, and amounts generally described as restricted cash or restricted cash equivalents. Amounts generally described as restricted cash and restricted cash equivalents should be included with cash and cash equivalents when reconciling from period to period as shown on the cash flow. The new standard is effective for the fiscal year beginning after December 15, 2017, including the interim periods within that reporting period. Early adoption is permitted. We do not expect this guidance to have a material impact on our financial statements. In January 2017, the FASB issued guidance which clarifies the definition of a business with additional guidance to assist entities with evaluating whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. The new standard should be applied prospectively and is effective for the interim and annual periods beginning after December 31, 2017. We do not expect the adoption of this guidance will have a material impact on our financial statements. In January 2017, the FASB issued guidance which eliminates the requirement to calculate the implied fair value of goodwill to measure a goodwill impairment charge. The new standard should be applied prospectively and is effective for the interim and annual periods beginning after December 31, 2019. Early adoption is permitted. We adopted this guidance during the first quarter of 2017. The impact of the adoption did not have a material impact on our financial statements. In May 2017, the FASB issued new guidance which relates to stock based compensation and clarifies when to account for a change to the terms or conditions of a share-based payment award as a modification. Under the new guidance, modification accounting is required only if the fair value, the vesting conditions, or the classification of the award (as equity or liability) changes as a result of the change in terms or conditions. The new standard is effective for the interim and annual periods beginning after December 15, 2017. We adopted this guidance during the second quarter of 2017. The impact of the adoption did not have a material impact on our financial statements. Revenue Recognition Total revenues include: (i) station advertising revenue, net of agency commissions; (ii) barter advertising revenues; (iii) retransmission consent fees; (iv) network compensation; (v) other media revenues and (vi) 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 and six months ended June 30, 2017 and 2016 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 and six months ended June 30, 2017 and 2016 , approximated the statutory rate. Equity Offering On March 15, 2017, we issued and sold 12.0 million shares of Class A Common stock to the public at a price of $42.00 per share. The proceeds from the offering, net of financing costs, were approximately $487.9 million and are intended to fund future potential acquisitions and general corporate purposes. Share Repurchase Program On March 20, 2014, the Board of Directors authorized a $150.0 million share repurchase authorization. On September 6, 2016 the Board of Directors authorized an additional $150.0 million shares repurchases authorization. There is no expiration date and currently, management has no plans to terminate this program. In August 2017, we repurchased an additional 0.2 million shares of Class A Common Stock for $7.8 million . The total remaining repurchase authorization is $111.4 million . Subsequent Events In August 2017, our Board of Directors declared a quarterly dividend of $0.18 per share, payable on September 15, 2017 to holders of record at the close of business on September 1, 2017. Reclassifications Certain reclassifications have been made to prior years' consolidated financial statements to conform to the current year's presentation.

ACQUISITIONS AND DISPOSITION OF

ACQUISITIONS AND DISPOSITION OF ASSETS	6 Months Ended
	Jun. 30, 2017
Business Combinations [Abstract]
ACQUISITIONS AND DISPOSITION OF ASSETS	ACQUISITIONS AND DISPOSITION OF ASSETS: 2017 Acquisitions. During 2017, we acquired certain media assets for an aggregated $23 million , less working capital of $2.8 million , with an additional $6 million earn-out potential based on certain contingencies . The transactions were funded with cash on hand. Tennis Channel. In March 2016, we acquired all of the outstanding common stock of Tennis Channel (Tennis), a cable network which includes coverage of the top 100 tennis tournaments and original professional sport and tennis lifestyle shows, for $350.0 million plus a working capital adjustment of $9.2 million . The transaction 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 6. Segment Data . The following table summarizes 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 6,518 Property and equipment 5,964 Definite-lived intangible assets 272,686 Indefinite-lived intangible assets 23,400 Other assets 619 Accounts payable and accrued liabilities (7,414 ) Capital leases (115 ) Deferred tax liability (16,991 ) Other long term liabilities (1,669 ) Fair value of identifiable net assets acquired 305,738 Goodwill 53,427 Total $ 359,165 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 definite-lived intangible assets of $272.7 million related primarily to customer relationships, which represent existing advertiser relationships and contractual relationships with multi-channel video programming distributors (MVPDs) and will be amortized over a weighted average useful life of 15 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. Goodwill will not be deductible for tax purposes. In connection with the acquisition, for the year ended December 31, 2016, we incurred a total of $0.2 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 of Tennis included in our consolidated statements of operations, were $36.5 million and $69.3 million for the three and six months ended June 30, 2017 , and $27.5 million and $35.1 million for the three and six months ended June 30, 2016 , respectively. Our consolidated statements of operations included operating loss of Tennis of $2.0 million and operating income of $5.2 million for the three and six months ended June 30, 2017 , respectively, and an operating loss of $9.7 million and $11.1 million for the three and six months ended June 30, 2016 , respectively. Other 2016 Acquisitions. During the year ended December 31, 2016, we acquired certain television station related assets for an aggregate purchase price of $72.0 million less working capital of $0.1 million . We also exchanged certain broadcast assets which had a carrying value of $23.8 million with another broadcaster for no cash consideration, and recognized a gain on the derecognition of those broadcast assets of $4.4 million , respectively. Pro Forma Information. The following table sets forth unaudited results of operations, 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 other acquisitions discussed above, as they were deemed not material both individually and in the aggregate (in thousands, except per share data): For the six months ended June 30, 2016 Total revenues $ 1,259,915 Net Income $ 75,322 Net Income attributable to Sinclair Broadcast Group $ 72,652 Basic earnings per share attributable to Sinclair Broadcast Group $ 0.77 Diluted earnings per share attributable to Sinclair Broadcast Group $ 0.76 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. Alarm Funding Sale. In March 2017, we sold Alarm Funding Associates LLC (Alarm) for $200.0 million less working capital and transaction costs of $5.0 million . We recognized a gain on the sale of Alarm of $53.0 million of which $12.3 million was attributable to noncontrolling interests which is included in the gain on asset dispositions and net income attributable to the noncontrolling interest, respectively, on the consolidated statement of operations. Pending Acquisitions. In April 2017, we entered into a definitive agreement to purchase the stock of Bonten Media Group Holdings, Inc. (Bonten) and Cunningham entered into a definitive agreement to purchase the membership interest of Esteem Broadcasting for an aggregate purchase price of $240 million . Bonten owns 14 television stations in 8 markets and provides services to 4 stations pursuant to the joint sales agreement with Esteem Broadcasting. On June 30, 2017, the FCC approved the transaction. The transaction is expected to close during the third quarter of 2017, subject to customary closing conditions. We expect to fund the purchase price through cash on hand. In May 2017, we entered into a definitive agreement to acquire the stock of Tribune Media Company (Tribune) for $43.50 per share, for an aggregate purchase price of approximately $3.9 billion , plus the assumption or refinancing of approximately $2.7 billion in net debt. Under the terms of the agreement, Tribune stockholders will receive $35.00 in cash and 0.23 shares of Sinclair Class A common stock for each share of Tribune Class A common stock and Class B common stock they own. Tribune owns or operates 42 television stations in 33 markets, cable network WGN America, digital multicast network Antenna TV, minority stakes in the TV Food Network, ThisTV, and CareerBuilder, and a variety of real estate assets. Tribune’s stations consists of 14 FOX, 12 CW, 6 CBS, 3 ABC, 2 NBC, 3 MyNetworkTV affiliates and 2 independent stations. We expect the transaction will close by year-end 2017, subject to approval by Tribune’s stockholders, as well as customary closing conditions, including antitrust clearance and approval by the FCC. We expect to fund the purchase price through a combination of cash on hand, fully committed debt financing, and by accessing the capital markets. See Note 3. Notes Payable and Commercial Bank Financing for further discussion on debt financing.

NOTES PAYABLE AND COMMERCIAL BA

NOTES PAYABLE AND COMMERCIAL BANK FINANCING	6 Months Ended
	Jun. 30, 2017
Debt Disclosure [Abstract]
NOTES PAYABLE AND COMMERCIAL BANK FINANCING	NOTES PAYABLE AND COMMERCIAL BANK FINANCING: Bank Credit Agreement On January 3, 2017, we amended our bank credit agreement. We extended the maturity date of the Term Loan B from April 9, 2020 and July 31, 2021 to January 3, 2024. In connection with the extension, we added additional operating flexibility, including a reduction in certain pricing terms related to Term Loan B and our existing revolving credit facility (Revolver) and revisions to certain covenant ratio requirements. The Term Loan B and Revolver bear interest at LIBOR plus 2.25% and 2.00% , respectively. Prior to July 3, 2017, if we repay, refinance, substitute, or replace the Term Loan B, we are subject to a prepayment premium of 1% of the aggregate principal balance of the repayment. We incurred approximately $11.6 million of financing costs in connection with the amendment, of which $3.4 million related to an original issuance discount, $7.7 million was expensed, and $0.5 million was capitalized as a deferred financing cost as of June 30, 2017 . Additionally, unamortized deferred financing costs of $1.4 million were written off as loss on extinguishment in the consolidated statement of operations in the first quarter of 2017 related to this amendment. As of June 30, 2017 and December 31, 2016 the Term Loan B balance net of deferred financing costs and debt discounts was $1,349.6 million and $1,353.5 million , respectively. As of June 30, 2017 and December 31, 2016 , there was no outstanding balance under our revolving credit facility. As of June 30, 2017 , we had $484.4 million of borrowing capacity under our revolving credit facility. Commitment Letters and Incremental Term B Facility related to Tribune Acquisition In connection with the pending acquisition of Tribune discussed in Note 2. Acquisitions and Disposition of Assets , we entered into financing commitment letters (Commitment Letters) with certain financial institutions for (i) a seven -year senior secured incremental term loan B facility of up to $3.747 billion (Incremental Term Loan B Facility) and (ii) a one -year senior unsecured term loan bridge facility of up to $785 million (Bridge Facility) and, together with the Incremental Term B Facility, collectively the (Facilities), convertible into a nine -year extended term loan, for purposes of financing a portion of the cash consideration payable under the terms of the agreement of plan merger between the Company and Tribune (Merger Agreement) and to pay or redeem certain indebtedness of Tribune and its subsidiaries. The Commitment Letters also contemplate certain amendments to our existing credit agreement, as subsequently amended (Existing Credit Agreement) in connection with the Tribune Acquisition to permit the acquisition and to provide for the Incremental Term B Facility in accordance with the terms of the Existing Credit Agreement. The Commitment Letters also provide for the syndication of an incremental revolving credit loan facility commitment of up to $225 million (Incremental Revolving Commitments) to be provided in accordance with the terms of the Existing Credit Agreement. The provision of the Incremental Revolving Commitments is not a condition of the Incremental Term B Facility or the Bridge Facility. The Incremental Term Loan B Facility will be subject to representations, warranties and covenants that, subject to certain agreed modifications, will be substantially similar to those in the Existing Credit Agreement. The documentation for the Bridge Facility shall, except as otherwise agreed, be based on and consistent with the indenture governing our 5.125% Senior Notes due 2027, dated as of August 30, 2016, among STG and U.S. Bank National Association, as trustee ( 5.125% Notes Indenture), and shall in any case, except as expressly agreed, be no less favorable to us than the 5.125% Notes Indenture. The funding of the Facilities is subject to our compliance with customary terms and conditions precedent as set forth in the Commitment Letters, including, among others, (i) the execution and delivery by us of definitive documentation consistent with the Commitment Letters and (ii) that the acquisition of Tribune shall have been, or substantially simultaneously with the funding under the Facilities shall be, consummated in accordance with the terms of the Merger Agreement without giving effect to any amendments or waivers that are material and adverse to the parties to the Commitment Letters. In June 2017, Tribune commenced a consent solicitation, seeking consents from the holders of Tribune notes to amend certain provisions of the indenture governing Tribune's 5.875% Senior Notes due 2022 (Tribune notes), to (i) eliminate any requirement for Tribune to make a "Change of Control Offer," to holders of Tribune notes in connection with the transactions, (ii) clarify the treatment under the Tribune notes of the proposed structure of the transactions and to facilitate the integration of Tribune and its subsidiaries and the Tribune notes with and into the Company's debt capital structure, and (iii) eliminate the expense associated with producing and filing with the SEC separate financial reports for STG, a wholly-owned subsidiary and the television operating subsidiary of the Company, as successor issuer of the Tribune notes, if the Company or any other parent entity of the successor issuer of the Tribune notes, in its sole discretion, provides an unconditional guarantee of the payment obligations of the successor issuer under the Tribune notes. In June 2017, Tribune received the requisite consent from the holders of the Notes and executed a supplemental indenture to amend these provisions of the Tribune indenture. The Company paid a consent fee of $8.25 million to the consenting holders of the Notes.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	6 Months Ended
	Jun. 30, 2017
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. The FCC has undertaken an investigation in response to a complaint it received alleging possible violations of the FCC’s sponsorship identification rules by the Company and certain of its subsidiaries. We cannot predict the outcome of any potential FCC action related to this matter but it is possible that such action could include fines and/or compliance programs. Changes in the Rules of Television Ownership, Local Marketing Agreements, Joint Sales Agreements, Retransmission Consent Negotiations, and National Ownership Cap Certain of our stations have entered into what have commonly been referred to as local marketing agreements or LMAs. One typical type of LMA is a programming agreement between two separately owned television stations serving the same market, whereby the licensee of one station programs substantial portions of the broadcast day and sells advertising time during such programming segments on the other licensee’s station subject to the latter licensee’s ultimate editorial and other controls. We believe these arrangements allow us to reduce our operating expenses and enhance profitability. In 1999, the FCC established a new local television ownership rule which made LMAs attributable. However, the rule grandfathered LMAs that were entered into prior to November 5, 1996, and permitted the applicable stations to continue operations pursuant to the LMAs until the conclusion of the FCC’s 2004 biennial review. The FCC stated it would conduct a case-by-case review of grandfathered LMAs and assess the appropriateness of extending the grandfathering periods. The FCC did not initiate any review of grandfathered LMAs in 2004 or as part of its subsequent quadrennial reviews. We do not know when, or if, the FCC will conduct any such review of grandfathered LMAs. Currently, all of our LMAs are grandfathered under the local television ownership rule because they were entered into prior to November 5, 1996. If the FCC were to eliminate the grandfathering of these LMAs, we would have to terminate or modify these LMAs. 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 2015 retransmission consent negotiation, an MVPD filed a complaint with the FCC accusing us of violating this rule. Although we reached agreement with the MVPD, the FCC initiated an investigation. In order to resolve the investigation and all other pending matters before the FCC's Media Bureau (including the grant of all outstanding renewals and dismissal or cancellation of all outstanding adversarial pleadings or forfeitures before the Media Bureau), the Company, on July 29, 2016, without any admission of liability, entered into a consent decree with the FCC pursuant to which the Company paid a fine and agreed to be subject to ongoing compliance monitoring by the FCC for a period of 36 months . 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 sought comment on new factors and evidence to consider in the FCC's 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. On July 14, 2016, then-Chairman Wheeler announced that the FCC would not, at such time, proceed to adopt additional rules governing good faith negotiations of retransmission consent. No formal action has yet been taken on this Proposed Rulemaking, and we cannot predict if the full Commission will agree to terminate the Rulemaking without action. In August 2016, the FCC completed both its 2010 and 2014 quadrennial reviews of its media ownership rules and issued an order (the "Ownership Order") which left most of the existing multiple ownership rules intact, but amended the rules to provide for the attribution of JSAs where two television stations are located in the same market, and a party with an attributable ownership interest in one station sells more than 15% of the advertising time per week of the second station. The Ownership Order also provides that JSAs that existed prior to March 31, 2014, will not be counted as attributable and may remain in place until October 1, 2025, at which point they must be terminated, amended or otherwise come into compliance with the rules. These "grandfathered" JSAs may be transferred or assigned without terminating the grandfathering status relief. Among other things, the television JSA attribution rule could limit our future ability to create duopolies or other two-station operations in certain markets. 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 revenues of these JSA arrangements we earned during the three and six months ended June 30, 2017 were $16.1 million and $29.2 million , and $14.3 million and $26.4 million during the three and six months ended June 30, 2016 , respectively. The Ownership Order is the subject of an appeal to the U.S. Court of Appeals for the Third Circuit and of Petitions for Reconsideration before the FCC. We cannot predict the outcome of that appeal or petitions. If we are required to terminate or modify our LMAs or JSAs, our business could be affected in the following ways: Losses on investments . In some cases, we own the non-license assets used by the stations we operate under LMAs and JSAs. If certain of these arrangements are no longer permitted, we could be forced to sell these assets, restructure our agreements or find another use for them. If this happens, the market for such assets may not be as good as when we purchased them and, therefore, we cannot be certain of a favorable return on our original investments. Termination penalties . If the FCC requires us to modify or terminate existing LMAs or JSAs before the terms of the agreements expire, or under certain circumstances, we elect not to extend the terms of the agreements, we may be forced to pay termination penalties under the terms of some of our agreements. Any such termination penalties could be material. On September 6, 2016, the FCC released an order eliminating the UHF discount (the "UHF Discount Order"). The UHF discount allowed television station owners to discount the coverage of UHF stations when calculating compliance with the FCC’s national ownership cap, which prohibits a single entity from owning television stations that reach, in total, more than 39% of all the television households in the nation. All but 28 of the stations we currently own and operate, or to which we provide programming services are UHF. On April 20, 2017, the FCC acted on a Petition for Reconsideration of the UHF Discount Order and adopted an Order on Reconsideration which reinstated the UHF Discount, to become effective June 5, 2017. The Order on Reconsideration also announced the FCC's plans to open a rulemaking proceeding later this year to consider whether to modify the national audience reach rule, including the UHF discount. A petition for judicial review of the Order on Reconsideration was filed at the U.S. Court of Appeals for the D.C. Circuit on May 12, 2017. The court has granted Sinclair leave to intervene in the proceedings in support of the FCC. On May 26, 2017, the petitioners in that case filed an emergency motion with the court seeking a stay of the Order on Reconsideration pending judicial review. On June 1, 2017, the D.C. Circuit Court of Appeals entered an administrative stay of the Order on Reconsideration, which was to take effect on June 5, 2017, pending its review of the emergency stay motion. On June 15, 2017, the D.C. Circuit Court of Appeals issued an order dissolving the administrative stay and denying the emergency stay motion. The Order on Reconsideration became effective immediately upon release of the court's order, as a result of which the UHF discount remains in effect. The Petition for Review in the D.C. Circuit of Appeals remains pending at this time, and we cannot predict the outcome of that proceeding. With the application of the UHF discount, counting all our present stations, and including the pending Bonten transaction, we would reach approximately 25% of U.S. households. With the pending Tribune transaction, absent divestitures, we would exceed the 39% cap, even with the application of the UHF discount. Changes to the national ownership cap could limit our ability to make television station acquisitions. Congress authorized the FCC to conduct so-called “incentive auctions” to auction and re-purpose broadcast television spectrum for mobile broadband use. Pursuant to the auction, television broadcasters submitted bids to receive compensation for relinquishing all or a portion of its rights in the television spectrum of their full-service and Class A stations. Low power stations were not eligible to participate in the auction and are not protected and therefore may be displaced or forced to go off the air as a result of the post-auction repacking process. On April 13, 2017, the FCC issued a public notice which announced the conclusion of the spectrum auction. In July 2017, we received $310.7 million of gross proceeds from the auction. The results of the auction are not expected to produce any material change in operations of the Company as there is no change in on air operations. In the repacking process associated with the auction, the FCC has reassigned some stations to new post-auction channels. We do not expect reassignment to new channels to have a material impact on our coverage. We received letters from the FCC in February 2017 notifying us that 93 of our stations have been assigned to new channels. The legislation authorizing the incentive auction provides the FCC with a $1.75 billion fund to reimburse reasonable costs incurred by stations that are reassigned to new channels in the repack. We cannot predict whether the fund will be sufficient to reimburse all of our expenses related to the repack.

EARNINGS PER SHARE

EARNINGS PER SHARE	6 Months Ended
	Jun. 30, 2017
Earnings Per Share [Abstract]
EARNINGS PER SHARE	EARNINGS PER SHARE: The following table reconciles income (numerator) and shares (denominator) used in our computations of basic and diluted earnings per share for the periods presented (in thousands): Three Months Ended Six Months Ended 2017 2016 2017 2016 Income (Numerator) Net Income $ 46,035 $ 50,600 $ 116,738 $ 76,229 Net income attributable to noncontrolling interests (1,390 ) (1,181 ) (14,891 ) (2,670 ) Numerator for basic and diluted earnings per common share available to common shareholders $ 44,645 $ 49,419 $ 101,847 $ 73,559 Shares (Denominator) Weighted-average common shares outstanding 102,649 95,026 97,668 94,922 Dilutive effect of stock-settled appreciation rights, restricted stock awards and outstanding stock options 1,016 908 1,039 897 Weighted-average common and common equivalent shares outstanding 103,665 95,934 98,707 95,819 There were no shares for the three and six months ended June 30, 2017 , and 525,000 shares for the three and six months ended June 30, 2016 which had an anti-dilutive effect on the equivalent shares outstanding and therefore excluded from the diluted effect above.

SEGMENT DATA

SEGMENT DATA	6 Months Ended
	Jun. 30, 2017
Segment Reporting [Abstract]
SEGMENT DATA	SEGMENT DATA: We measure segment performance based on operating income (loss). Our broadcast segment includes stations in 81 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 $172.7 million and $226.4 million of intercompany loans between the broadcast segment, other, and corporate as of June 30, 2017 and 2016 , respectively. We had $4.2 million and $6.1 million in intercompany interest expense related to intercompany loans between the broadcast segment, other, and corporate for the three months ended June 30, 2017 and 2016 , respectively. We had $9.9 million and $12.1 million in intercompany interest expense for the the six months ended June 30, 2017 and 2016 , respectively. All other intercompany transactions are immaterial. Segment financial information is included in the following tables for the periods presented (in thousands): For the three months ended June 30, 2017 Broadcast Other Corporate Consolidated Revenue $ 617,985 $ 61,305 $ — $ 679,290 Depreciation of property and equipment 21,559 1,819 225 23,603 Amortization of definite-lived intangible assets and other assets 38,298 5,079 — 43,377 Amortization of program contract costs and net realizable value adjustments 28,896 — — 28,896 General and administrative overhead expenses 22,349 273 2,429 25,051 Research and development — 1,345 — 1,345 Operating income (loss) 131,284 (9,781 ) (2,654 ) 118,849 Interest expense 1,329 216 49,414 50,959 Income from equity and cost method investments — 1,462 — 1,462 Assets 4,675,262 768,572 845,702 6,289,536 For the three months ended June 30, 2016 Broadcast Other Corporate Consolidated Revenue $ 608,169 $ 58,365 $ — $ 666,534 Depreciation of property and equipment 22,526 1,617 266 24,409 Amortization of definite-lived intangible assets and other assets 38,551 7,074 — 45,625 Amortization of program contract costs and net realizable value adjustments 30,821 — — 30,821 General and administrative overhead expenses 12,995 283 1,001 14,279 Research and development — 1,209 — 1,209 Operating income (loss) 145,400 (15,059 ) (1,267 ) 129,074 Interest expense 1,411 1,555 50,950 53,916 Income from equity and cost method investments — 943 — 943 Six months ended June 30, 2017 Broadcast Other Corporate Consolidated Revenue $ 1,210,409 $ 118,816 $ — $ 1,329,225 Depreciation of property and equipment 43,505 3,588 491 47,584 Amortization of definite-lived intangible assets and other assets 76,624 12,307 — 88,931 Amortization of program contract costs and net realizable value adjustments 59,915 — — 59,915 General and administrative overhead expenses 41,340 561 3,726 45,627 Research and development — 2,502 — 2,502 Operating income (loss) 245,827 34,868 (a) (4,217 ) 276,478 Interest expense 2,695 1,429 104,153 108,277 Income from equity and cost method investments — 141 — 141 (a) - Includes gain on the sale of Alarm of $53.0 million of which $12.3 million was attributable to noncontrolling interests. See Note 2. Acquisitions and Disposition of Assets . Six months ended June 30, 2016 Broadcast Other Corporate Consolidated Revenue $ 1,155,002 $ 90,421 $ — $ 1,245,423 Depreciation of property and equipment 45,274 2,638 532 48,444 Amortization of definite-lived intangible assets and other assets 78,321 11,069 — 89,390 Amortization of program contract costs and net realizable value adjustments 64,281 — — 64,281 General and administrative overhead expenses 33,431 839 1,350 35,620 Research and development — 2,310 — 2,310 Operating income (loss) 243,451 (26,156 ) (1,882 ) 215,413 Interest expense 2,893 3,031 97,407 103,331 Income from equity and cost method investments — 1,366 — 1,366

RELATED PERSON TRANSACTIONS

RELATED PERSON TRANSACTIONS	6 Months Ended
	Jun. 30, 2017
Related Party Transactions [Abstract]
RELATED PERSON TRANSACTIONS	RELATED PERSON TRANSACTIONS: Transactions with our controlling shareholders David, Frederick, J. Duncan and Robert Smith (collectively, the controlling shareholders) are brothers and hold substantially all of the Class B Common Stock and some of our Class A Common Stock. We engaged in the following transactions with them and/or entities in which they have substantial interests. Leases. Certain assets used by us and our operating subsidiaries are leased from Cunningham Communications Inc., Keyser Investment Group, Gerstell Development Limited Partnership and Beaver Dam, LLC (entities owned by the controlling shareholders). Lease payments made to these entities were $1.2 million and $1.3 million for the three months ended June 30, 2017 and 2016 , and $2.5 million and $2.5 million for the six months ended June 30, 2017 and 2016 , respectively. Charter Aircraft. We lease aircraft owned by certain controlling shareholders. For all leases, we incurred expenses of $0.4 million and $0.3 million for the three months ended June 30, 2017 and 2016 , and $0.9 million and $0.7 million for the for the six months ended June 30, 2017 and 2016 , respectively. Cunningham Broadcasting Corporation Cunningham owns a portfolio of television stations including: WNUV-TV Baltimore, Maryland; WRGT-TV Dayton, Ohio; WVH-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). Certain of our stations provide services to these Cunningham Stations pursuant to LMAs or JSAs and SSAs. See Note 1. Nature of Operations and Summary of Significant Accounting Policies , for further discussion of the scope of services provided under these types of arrangements. The estate of Carolyn C. Smith, the mother of our controlling shareholders, currently owns all of the voting stock of the Cunningham Stations. 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. The services provided to WNUV-TV, WMYA-TV, WTTE-TV, WRGT-TV and WVAH-TV are governed by a master agreement which has a current term that expires on July 1, 2023 and there are two additional 5 - year renewal terms remaining with final expiration on July 1, 2033. 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. Pursuant to the terms of this agreement we are obligated to pay Cunningham an annual 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 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 June 30, 2017 was approximately $ 53.6 million . Additionally, we provide services to WDBB-TV pursuant to an LMA, which expires April 22, 2025, and own a purchase option to acquire for $0.2 million . We paid Cunningham under these agreements, $1.9 million and $2.3 million for the three months ended June 30, 2017 and 2016 , and $3.9 million and $4.5 million for the six months ended June 30, 2017 and 2016 , respectively. 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. We earned $1.4 million and $1.5 million from the services we performed for these stations for both the three months ended June 30, 2017 and 2016 , and $2.8 million for both the six months ended June 30, 2017 and 2016 , respectively. As we consolidate the licensees as VIEs, the amounts we earn or pay 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 the Cunningham Stations include $26.9 million and $30.9 million for the three months ended June 30, 2017 and 2016 , and $53.0 million and $58.5 million for the six months ended June 30, 2017 and 2016 , 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. Interest income was $0.2 million for both the three months ended June 30, 2017 and 2016 and $0.5 million for both the for the six months ended June 30, 2017 and 2016 , respectively. In April 2016, we entered into an agreement with Cunningham to provide master control equipment and provide master control services to a station in Johnstown, PA with which they have a time brokerage agreement that expires in April 2019 . Under the agreement, Cunningham will pay us an initial fee of $0.7 million and $0.2 million annually for master control services plus the cost to maintain and repair the equipment. Also, in August 2016, we entered into an agreement, expiring October 2021, with Cunningham to provide a news share service with their station in Johnstown, PA beginning in October 2016 for an annual fee of $1.0 million per year. Atlantic Automotive Corporation We sell advertising time to Atlantic Automotive Corporation (Atlantic Automotive), a holding company that owns automobile dealerships and an automobile leasing company. David D. Smith, our Executive Chairman, has a controlling interest in, and is a member of the Board of Directors of Atlantic Automotive. We received payments for advertising totaling $0.2 million for both the three months ended June 30, 2017 and 2016 , and $0.3 million and $0.2 million , for the six months ended June 30, 2017 and 2016 , respectively. Additionally, Atlantic Automotive leases office space owned by one of our consolidated real estate ventures in Towson, Maryland. In May 2017, our consolidated real estate ventures sold their investment. See Leased property by real estate ventures below for discussion on the sale our consolidated real estate ventures' investment. Atlantic Automotive paid $0.1 million and $0.2 million in rent during the three months ended June 30, 2017 and 2016 , and $0.4 million and $0.5 million for the six months ended June 30, 2017 and 2016 , respectively. Leased property by real estate ventures Certain of our real estate ventures have entered into leases with entities owned by David D. Smith to lease space. There are leases for space 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 and $0.2 million for the three months ended June 30, 2017 and 2016 , and $0.2 million and $0.3 million for the six months ended June 30, 2017 and 2016 , respectively. One of our real estate ventures, accounted for under the equity method, owned a building in Towson, MD, which leased restaurant space to entities owned by David D. Smith up until May 2017, when the property was sold to an unrelated party. This investment received less than $0.1 million and $0.1 million in rent pursuant to the lease for the three months ended June 30, 2017 and 2016 , and $0.1 million and $0.2 million for the six months ended June 30, 2017 and 2016 , respectively. Payments for services provided by the restaurants to us was less than $0.1 million for both the three months ended June 30, 2017 and 2016 , and six months ended June 30, 2017 and 2016 . Other transactions with equity method investments In April 2017, we made a $15.0 million investment in 120 Sports LLC, a multi-platform sports network branded as Stadium, which we account for under the equity method. We entered into a services agreement with the entity to provide certain linear distribution, engineering advertising, traffic, sales, and promotional services. For the three months ended June 30, 2017 , we did not receive any consideration pursuant to the services agreement.

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	6 Months Ended
	Jun. 30, 2017
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 fair value of our notes payable, capital leases, and commercial bank financing are considered Level 2 measurements within the fair value hierarchy. The carrying value and fair value of our notes and debentures for the periods presented (in thousands): As of June 30, 2017 As of December 31, 2016 Carrying Value (a) Fair Value Carrying Value (a) Fair Value 6.125% Senior Unsecured Notes due 2022 500,000 521,495 500,000 521,240 5.875% Senior Unsecured Notes due 2026 350,000 358,239 350,000 351,456 5.625% Senior Unsecured Notes due 2024 550,000 565,615 550,000 562,755 5.375% Senior Unsecured Notes due 2021 600,000 617,016 600,000 617,892 5.125% Senior Unsecured Notes due 2027 400,000 387,188 400,000 382,028 Term Loan A 251,448 251,656 272,198 271,517 Term Loan B 1,363,150 1,363,150 1,365,625 1,364,841 Debt of variable interest entities 21,456 21,456 23,198 23,198 Debt of other operating divisions 26,313 26,313 135,211 135,211 (a) Amounts are carried net of debt discount and deferred financing cost, which are excluded in the above table, of $42.4 million as of June 30, 2017 and $43.4 million as of December 31, 2016.

CONDENSED CONSOLIDATING FINANCI

CONDENSED CONSOLIDATING FINANCIAL STATEMENTS	6 Months Ended
	Jun. 30, 2017
Condensed Financial Information of Parent Company Only Disclosure [Abstract]
CONDENSED CONSOLIDATING FINANCIAL STATEMENTS	CONDENSED CONSOLIDATING FINANCIAL STATEMENTS: 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, 5.625% Notes, 6.125% Notes, 5.875% Notes, 5.125% Notes, and until they were redeemed, the 6.375% Notes. Our Class A Common Stock and Class B Common Stock as of June 30, 2017 , 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, 5.875% Notes, 6.125% Notes, and 5.125% Notes, and until they were redeemed, the 6.375% Notes. As of June 30, 2017 , our consolidated total debt, net of deferred financing costs and debt discounts, of $4,068.1 million included $4,040.9 million related to STG and its subsidiaries of which SBG guaranteed $3,993.9 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. The year-end condensed balance sheet data was derived from audited financial statements, but does not include all disclosures required by accounting principles generally accepted in the United States of America. These statements are presented in accordance with the disclosure requirements under SEC Regulation S-X, Rule 3-10. CONDENSED CONSOLIDATING BALANCE SHEET AS OF JUNE 30, 2017 (in thousands) (unaudited) Sinclair Sinclair Guarantor Non- Eliminations Sinclair Cash $ — $ 755,841 $ 16,256 $ 23,950 $ — $ 796,047 Accounts receivable — — 505,902 32,642 (1,258 ) 537,286 Other current assets 709 2,777 90,821 22,392 (27,590 ) 89,109 Total current assets 709 758,618 612,979 78,984 (28,848 ) 1,422,442 Property and equipment, net 1,374 21,938 561,662 132,573 (12,064 ) 705,483 Investment in consolidated subsidiaries 1,127,687 3,607,749 4,179 — (4,739,615 ) — Goodwill — — 1,998,942 3,867 — 2,002,809 Indefinite-lived intangible assets — — 144,648 15,709 — 160,357 Definite-lived intangible assets — — 1,703,697 83,341 (61,530 ) 1,725,508 Other long-term assets 39,936 810,866 119,298 160,988 (858,151 ) 272,937 Total assets $ 1,169,706 $ 5,199,171 $ 5,145,405 $ 475,462 $ (5,700,208 ) $ 6,289,536 Accounts payable and accrued liabilities $ 440 $ 65,336 $ 213,618 $ 40,129 $ (28,765 ) $ 290,758 Current portion of long-term debt — 160,539 1,829 5,911 — 168,279 Current portion of affiliate long-term debt 793 — 1,323 737 (429 ) 2,424 Other current liabilities — — 66,346 9,681 — 76,027 Total current liabilities 1,233 225,875 283,116 56,458 (29,194 ) 537,488 Long-term debt — 3,812,286 29,162 42,711 — 3,884,159 Affiliate long-term debt — — 12,022 338,965 (337,774 ) 13,213 Other liabilities 10,297 35,730 1,212,811 185,885 (715,019 ) 729,704 Total liabilities 11,530 4,073,891 1,537,111 624,019 (1,081,987 ) 5,164,564 Total Sinclair Broadcast Group equity (deficit) 1,158,176 1,125,280 3,608,294 (110,969 ) (4,622,605 ) 1,158,176 Noncontrolling interests in consolidated subsidiaries — — — (37,588 ) 4,384 (33,204 ) Total liabilities and equity (deficit) $ 1,169,706 $ 5,199,171 $ 5,145,405 $ 475,462 $ (5,700,208 ) $ 6,289,536 CONDENSED CONSOLIDATING BALANCE SHEET AS OF DECEMBER 31, 2016 (in thousands) Sinclair Sinclair Guarantor Non- Eliminations Sinclair Cash $ — $ 232,297 $ 10,675 $ 17,012 $ — $ 259,984 Accounts receivable — — 478,190 37,024 (1,260 ) 513,954 Other current assets 5,561 3,143 124,313 25,406 (27,273 ) 131,150 Total current assets 5,561 235,440 613,178 79,442 (28,533 ) 905,088 Property and equipment, net 1,820 17,925 570,289 131,326 (3,784 ) 717,576 Investment in consolidated subsidiaries 551,250 3,614,605 4,179 — (4,170,034 ) — Goodwill — — 1,986,467 4,279 — 1,990,746 Indefinite-lived intangible assets — — 140,597 15,709 — 156,306 Definite-lived intangible assets — — 1,770,512 233,368 (59,477 ) 1,944,403 Other long-term assets $ 46,586 $ 819,506 $ 103,808 $ 169,817 $ (890,668 ) $ 249,049 Total assets $ 605,217 $ 4,687,476 $ 5,189,030 $ 633,941 $ (5,152,496 ) $ 5,963,168 Accounts payable and accrued liabilities $ 100 $ 69,118 $ 225,645 $ 48,815 $ (21,173 ) $ 322,505 Current portion of long-term debt — 55,501 1,851 113,779 — 171,131 Current portion of affiliate long-term debt 1,857 — 1,514 2,336 (2,103 ) 3,604 Other current liabilities — — 127,967 13,590 (2,324 ) 139,233 Total current liabilities 1,957 124,619 356,977 178,520 (25,600 ) 636,473 Long-term debt — 3,939,463 31,014 44,455 — 4,014,932 Affiliate long-term debt — — 12,663 396,957 (395,439 ) 14,181 Other liabilities 15,277 31,817 1,190,717 183,418 (681,583 ) 739,646 Total liabilities 17,234 4,095,899 1,591,371 803,350 (1,102,622 ) 5,405,232 Total Sinclair Broadcast Group equity (deficit) 587,983 591,577 3,597,659 (134,991 ) (4,054,245 ) 587,983 Noncontrolling interests in consolidated subsidiaries — — — (34,418 ) 4,371 (30,047 ) Total liabilities and equity (deficit) $ 605,217 $ 4,687,476 $ 5,189,030 $ 633,941 $ (5,152,496 ) $ 5,963,168 CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME FOR THE THREE MONTHS ENDED JUNE 30, 2017 (in thousands) (unaudited) Sinclair Sinclair Guarantor Non- Eliminations Sinclair Net revenue $ — $ — $ 647,266 $ 53,034 $ (21,010 ) $ 679,290 Media program and production expenses — — 257,482 30,476 (18,966 ) 268,992 Selling, general and administrative 2,292 22,412 124,450 2,919 24 152,097 Depreciation, amortization and other operating expenses 225 1,651 112,238 26,012 (774 ) 139,352 Total operating expenses 2,517 24,063 494,170 59,407 (19,716 ) 560,441 Operating (loss) income (2,517 ) (24,063 ) 153,096 (6,373 ) (1,294 ) 118,849 Equity in earnings of consolidated subsidiaries 45,927 96,600 93 — (142,620 ) — Interest expense (34 ) (49,379 ) (1,425 ) (4,149 ) 4,028 (50,959 ) Other income (expense) 723 1,128 (1,895 ) 3,069 — 3,025 Total other income (expense) 46,616 48,349 (3,227 ) (1,080 ) (138,592 ) (47,934 ) Income tax benefit (provision) 546 24,636 (51,842 ) 1,780 — (24,880 ) Net income (loss) 44,645 48,922 98,027 (5,673 ) (139,886 ) 46,035 Net income attributable to the noncontrolling interests — — — (1,386 ) (4 ) (1,390 ) Net income (loss) attributable to Sinclair Broadcast Group $ 44,645 $ 48,922 $ 98,027 $ (7,059 ) $ (139,890 ) $ 44,645 Comprehensive income (loss) $ 44,645 $ 48,922 $ 98,027 $ (5,673 ) $ (139,886 ) $ 46,035 CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME FOR THE THREE MONTHS ENDED JUNE 30, 2016 (in thousands) (unaudited) Sinclair Sinclair Guarantor Non- Eliminations Sinclair Net revenue $ — $ — $ 627,517 $ 62,037 $ (23,020 ) $ 666,534 Media program and production expenses — — 235,138 30,440 (21,958 ) 243,620 Selling, general and administrative 1,001 14,121 125,331 2,326 (12 ) 142,767 Depreciation, amortization and other operating expenses 266 1,219 116,970 33,134 (516 ) 151,073 Total operating expenses 1,267 15,340 477,439 65,900 (22,486 ) 537,460 Operating (loss) income (1,267 ) (15,340 ) 150,078 (3,863 ) (534 ) 129,074 Equity in earnings of consolidated subsidiaries 49,136 100,678 69 — (149,883 ) — Interest expense (41 ) (50,908 ) (1,098 ) (8,107 ) 6,238 (53,916 ) Other income (expense) 1,087 148 622 190 — 2,047 Total other income (expense) 50,182 49,918 (407 ) (7,917 ) (143,645 ) (51,869 ) Income tax benefit (provision) 504 18,034 (47,722 ) 2,579 — (26,605 ) Net income (loss) 49,419 52,612 101,949 (9,201 ) (144,179 ) 50,600 Net income attributable to the noncontrolling interests — — — (1,262 ) 81 (1,181 ) Net income (loss) attributable to Sinclair Broadcast Group $ 49,419 $ 52,612 $ 101,949 $ (10,463 ) $ (144,098 ) $ 49,419 Comprehensive income (loss) $ 49,419 $ 52,612 $ 101,949 $ (9,201 ) $ (144,179 ) $ 50,600 CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME FOR THE SIX MONTHS ENDED JUNE 30, 2017 (in thousands) (unaudited) Sinclair Sinclair Guarantor Non- Eliminations Sinclair Net revenue $ — $ — $ 1,262,975 $ 106,420 $ (40,170 ) $ 1,329,225 Media program and production expenses — — 505,686 58,920 (37,459 ) 527,147 Selling, general and administrative 3,588 41,370 246,884 5,552 — 297,394 Depreciation, amortization and other operating expenses 491 3,376 223,467 2,091 (1,219 ) 228,206 Total operating expenses 4,079 44,746 976,037 66,563 (38,678 ) 1,052,747 Operating (loss) income (4,079 ) (44,746 ) 286,938 39,857 (1,492 ) 276,478 Equity in earnings of consolidated subsidiaries 104,116 184,405 143 — (288,664 ) — Interest expense (71 ) (104,083 ) (2,545 ) (11,772 ) 10,194 (108,277 ) Loss from the extinguishment of debt — (1,404 ) — — — (1,404 ) Other income 824 1,928 (1,399 ) 2,047 — 3,400 Total other income (expense) 104,869 80,846 (3,801 ) (9,725 ) (278,470 ) (106,281 ) Income tax benefit (provision) 1,057 49,741 (96,071 ) (8,186 ) — (53,459 ) Net income (loss) 101,847 85,841 187,066 21,946 (279,962 ) 116,738 Net income attributable to the noncontrolling interests — — — (14,879 ) (12 ) (14,891 ) Net income (loss) attributable to Sinclair Broadcast Group $ 101,847 $ 85,841 $ 187,066 $ 7,067 $ (279,974 ) $ 101,847 Comprehensive income (loss) $ 101,847 $ 85,841 $ 187,066 $ 21,946 $ (279,962 ) $ 116,738 CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME FOR THE SIX MONTHS ENDED JUNE 30, 2016 (in thousands) (unaudited) Sinclair Sinclair Guarantor Non- Eliminations Sinclair Net revenue $ — $ — $ 1,172,629 $ 114,287 $ (41,493 ) $ 1,245,423 Media program and production expenses — — 444,864 54,821 (40,188 ) 459,497 Selling, general and administrative 2,003 36,219 236,442 4,487 (34 ) 279,117 Depreciation, amortization and other operating expenses 532 2,410 225,445 63,990 (981 ) 291,396 Total operating expenses 2,535 38,629 906,751 123,298 (41,203 ) 1,030,010 Operating (loss) income (2,535 ) (38,629 ) 265,878 (9,011 ) (290 ) 215,413 Equity in earnings of consolidated subsidiaries 73,424 175,533 119 — (249,076 ) — Interest expense (136 ) (97,271 ) (2,299 ) (16,003 ) 12,378 (103,331 ) Other income (expense) 2,230 267 609 (174 ) — 2,932 Total other income (expense) 75,518 78,529 (1,571 ) (16,177 ) (236,698 ) (100,399 ) Income tax benefit (provision) 576 41,137 (85,902 ) 5,404 — (38,785 ) Net income (loss) 73,559 81,037 178,405 (19,784 ) (236,988 ) 76,229 Net income attributable to the noncontrolling interests — — — (2,161 ) (509 ) (2,670 ) Net income (loss) attributable to Sinclair Broadcast Group $ 73,559 $ 81,037 $ 178,405 $ (21,945 ) $ (237,497 ) $ 73,559 Comprehensive income (loss) $ 73,559 $ 81,037 $ 178,405 $ (19,784 ) $ (236,988 ) $ 76,229 CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS FOR THE SIX MONTHS ENDED JUNE 30, 2017 (in thousands) (unaudited) Sinclair Sinclair Guarantor Non- Eliminations Sinclair NET CASH FLOWS FROM (USED IN) OPERATING ACTIVITIES $ 2,030 $ (91,863 ) $ 232,678 $ (4,671 ) $ 3,308 $ 141,482 CASH FLOWS FROM (USED IN) INVESTING ACTIVITIES: Acquisition of property and equipment (117 ) (3,913 ) (27,596 ) (1,881 ) — (33,507 ) Acquisition of businesses, net of cash acquired — (8,308 ) (20,021 ) — — (28,329 ) Purchase of alarm monitoring contracts — — — (5,682 ) — (5,682 ) Proceeds from sale of non-media business — — — 192,639 — 192,639 Investments in equity and cost method investees (945 ) (481 ) (15,046 ) (4,218 ) — (20,690 ) Other, net 2,266 (8,189 ) 830 2,029 — (3,064 ) Net cash flows from (used in) investing activities 1,204 (20,891 ) (61,833 ) 182,887 — 101,367 CASH FLOWS (USED IN) FROM FINANCING ACTIVITIES: Proceeds from notes payable, commercial bank financing and capital leases — 159,669 — 3,420 — 163,089 Repayments of notes payable, commercial bank financing and capital leases — (186,319 ) (731 ) (114,118 ) — (301,168 ) Proceeds from the issuance of Class A Common Stock 487,883 — — — — 487,883 Dividends paid on Class A and Class B Common Stock (34,744 ) — — — — (34,744 ) Distributions to noncontrolling interests — — — (18,048 ) — (18,048 ) Increase (decrease) in intercompany payables (453,712 ) 662,973 (165,240 ) (40,563 ) (3,458 ) — Other, net (2,661 ) (25 ) 707 (1,969 ) 150 (3,798 ) Net cash flows (used in) from financing activities (3,234 ) 636,298 (165,264 ) (171,278 ) (3,308 ) 293,214 NET INCREASE IN CASH AND CASH EQUIVALENTS — 523,544 5,581 6,938 — 536,063 CASH AND CASH EQUIVALENTS, beginning of period — 232,297 10,675 17,012 — 259,984 CASH AND CASH EQUIVALENTS, end of period $ — $ 755,841 $ 16,256 $ 23,950 $ — $ 796,047 CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS FOR THE SIX MONTHS ENDED JUNE 30, 2016 (in thousands) (unaudited) Sinclair Sinclair Guarantor Non- Eliminations Sinclair NET CASH FLOWS FROM (USED IN) OPERATING ACTIVITIES $ 2,296 $ (81,821 ) $ 282,530 $ (8,483 ) $ 15,136 $ 209,658 CASH FLOWS FROM (USED IN) INVESTING ACTIVITIES: Acquisition of property and equipment — (1,871 ) (45,155 ) (3,206 ) 446 (49,786 ) Acquisition of businesses, net of cash acquired — — (412,729 ) (10,375 ) — (423,104 ) Purchase of alarm monitoring contracts — — — (21,616 ) — (21,616 ) Investments in equity and cost method investees — (10,827 ) — (11,016 ) — (21,843 ) Loans to affiliates — (19,500 ) — — — (19,500 ) Other, net 1,197 3,725 58 2,419 — 7,399 Net cash flows from (used in) investing activities 1,197 (28,473 ) (457,826 ) (43,794 ) 446 (528,450 ) CASH FLOWS (USED IN) FROM FINANCING ACTIVITIES: Proceeds from notes payable, commercial bank financing and capital leases — 595,000 — 12,555 — 607,555 Repayments of notes payable, commercial bank financing and capital leases — (272,672 ) (719 ) (6,184 ) — (279,575 ) Dividends paid on Class A and Class B Common Stock (32,781 ) — — — — (32,781 ) Distributions to noncontrolling interests — — — (4,170 ) — (4,170 ) Repurchase of outstanding Class A Common Stock (11,247 ) — — — — (11,247 ) Increase (decrease) in intercompany payables 42,586 (249,887 ) 181,829 41,172 (15,700 ) — Other, net (2,051 ) (5,681 ) 750 (371 ) 118 (7,235 ) Net cash flows (used in) from financing activities (3,493 ) 66,760 181,860 43,002 (15,582 ) 272,547 NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS — (43,534 ) 6,564 (9,275 ) — (46,245 ) CASH AND CASH EQUIVALENTS, beginning of period — 115,771 235 33,966 — 149,972 CASH AND CASH EQUIVALENTS, end of period $ — $ 72,237 $ 6,799 $ 24,691 $ — $ 103,727

NATURE OF OPERATIONS AND SUMM17

NATURE OF OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	6 Months Ended
	Jun. 30, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of Operations	Sinclair Broadcast Group, Inc. (the Company) is a diversified television broadcasting company with national reach and 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 June 30, 2017 , 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 agreements commonly referred to as 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 shared services agreements (SSAs)) to 173 stations in 81 markets. These stations broadcast 528 channels, as of June 30, 2017 . For the purpose of this report, these 173 stations and 528 channels are referred to as “our” stations and channels.
Principles of Consolidation and Interim Financial Statements	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 and six months ended June 30, 2017 and 2016 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, 2016 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. 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 when, 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 we absorb losses and returns that would be considered significant to the VIEs. The fees paid between us and the licensees pursuant to these arrangements are eliminated in consolidation. Several of these VIEs are owned by a related party, Cunningham Broadcasting Corporation (Cunningham).
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 will be effective for annual reporting periods beginning after December 15, 2017. The standard permits the use of either the retrospective or cumulative effect transition method. Since ASU 2014-09 was issued, several additional ASUs have been issued and incorporated within ASC 606 to clarify various elements of the guidance. We do not currently believe that the adoption of this guidance will have a material impact on our station advertising or retransmission consent revenue; however, we have not finalized our assessment of the impact of this guidance on our consolidated financial statements. 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 new guidance 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 August 2016, the FASB issued new guidance related to the classification of certain cash receipts and cash payments. The new standard, which includes eight specific cash flow issues with the objective of reducing the existing diversity in practice as to how cash receipts and cash payments are represented in the statement of cash flow. The new standard is effective for fiscal year beginning after December 15, 2017, including the 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 October 2016, the FASB issued new guidance related to the accounting for income tax consequences of intra-entity transfers of assets other than inventory. Currently the recognition of current and deferred income taxes for an intra-entity are prohibited until the asset has been sold to an outside party. This update requires an entity to recognize the income tax consequences of an intra-entity transfer of an asset other than inventory when the transfer occurs. We adopted this guidance during the first quarter of 2017. The impact of the adoption did not have a material impact on our financial statements. In October 2016, the FASB issued new guidance which relates to related party considerations in the variable interest entities assessment. The new standard is effective for the interim and annual periods beginning after December 15, 2017. We adopted this guidance during the first quarter of 2017. The impact of the adoption did not have a material impact on our financial statements. In November 2016, FASB issued new guidance related to the classification and presentation of changes in restricted cash on the statement of cash flows. This new standard requires that a statement of cash flow explain change during the period in the total of cash, cash equivalents, and amounts generally described as restricted cash or restricted cash equivalents. Amounts generally described as restricted cash and restricted cash equivalents should be included with cash and cash equivalents when reconciling from period to period as shown on the cash flow. The new standard is effective for the fiscal year beginning after December 15, 2017, including the interim periods within that reporting period. Early adoption is permitted. We do not expect this guidance to have a material impact on our financial statements. In January 2017, the FASB issued guidance which clarifies the definition of a business with additional guidance to assist entities with evaluating whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. The new standard should be applied prospectively and is effective for the interim and annual periods beginning after December 31, 2017. We do not expect the adoption of this guidance will have a material impact on our financial statements. In January 2017, the FASB issued guidance which eliminates the requirement to calculate the implied fair value of goodwill to measure a goodwill impairment charge. The new standard should be applied prospectively and is effective for the interim and annual periods beginning after December 31, 2019. Early adoption is permitted. We adopted this guidance during the first quarter of 2017. The impact of the adoption did not have a material impact on our financial statements. In May 2017, the FASB issued new guidance which relates to stock based compensation and clarifies when to account for a change to the terms or conditions of a share-based payment award as a modification. Under the new guidance, modification accounting is required only if the fair value, the vesting conditions, or the classification of the award (as equity or liability) changes as a result of the change in terms or conditions. The new standard is effective for the interim and annual periods beginning after December 15, 2017. We adopted this guidance during the second quarter of 2017. The impact of the adoption did not have a material impact on our financial statements.
Revenue Recognition	Total revenues include: (i) station advertising revenue, net of agency commissions; (ii) barter advertising revenues; (iii) retransmission consent fees; (iv) network compensation; (v) other media revenues and (vi) 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 and six months ended June 30, 2017 and 2016 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 and six months ended June 30, 2017 and 2016 , approximated the statutory rate.
Reclassifications	Certain reclassifications have been made to prior years' consolidated financial statements to conform to the current year's presentation.
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.

NATURE OF OPERATIONS AND SUMM18

NATURE OF OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	6 Months Ended
	Jun. 30, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Carrying Amounts and Classification of Assets and Liabilities of VIEs	As of the dates indicated, the carrying amounts and classification of the assets and liabilities of the VIEs mentioned above which have been included in our consolidated balance sheets for the periods presented (in thousands): June 30, December 31, ASSETS CURRENT ASSETS: Accounts receivable 21,725 21,879 Other current assets 4,991 12,076 Total current assets 26,716 33,955 PROGRAM CONTRACT COSTS, less current portion 1,171 2,468 PROPERTY AND EQUIPMENT, net 6,620 2,996 GOODWILL AND INDEFINITE-LIVED INTANGIBLE ASSETS 16,475 16,475 DEFINITE-LIVED INTANGIBLE ASSETS, net 78,134 79,509 OTHER ASSETS 5,601 6,871 Total assets $ 134,717 $ 142,274 LIABILITIES CURRENT LIABILITIES: Other current liabilities $ 14,692 $ 18,992 LONG-TERM LIABILITIES: Notes payable, capital leases and commercial bank financing, less current portion 18,088 19,449 Program contracts payable, less current portion 10,885 14,353 Other long-term liabilities 8,842 12,921 Total liabilities $ 52,507 $ 65,715

ACQUISITIONS AND DISPOSITION 19

ACQUISITIONS AND DISPOSITION OF ASSETS (Tables)	6 Months Ended
	Jun. 30, 2017
Business Combinations [Abstract]
Schedule of allocated fair value of acquired assets and liabilities assumed	The following table summarizes 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 6,518 Property and equipment 5,964 Definite-lived intangible assets 272,686 Indefinite-lived intangible assets 23,400 Other assets 619 Accounts payable and accrued liabilities (7,414 ) Capital leases (115 ) Deferred tax liability (16,991 ) Other long term liabilities (1,669 ) Fair value of identifiable net assets acquired 305,738 Goodwill 53,427 Total $ 359,165
Summary of Pro Forma Information	The following table sets forth unaudited results of operations, 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 other acquisitions discussed above, as they were deemed not material both individually and in the aggregate (in thousands, except per share data): For the six months ended June 30, 2016 Total revenues $ 1,259,915 Net Income $ 75,322 Net Income attributable to Sinclair Broadcast Group $ 72,652 Basic earnings per share attributable to Sinclair Broadcast Group $ 0.77 Diluted earnings per share attributable to Sinclair Broadcast Group $ 0.76

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	6 Months Ended
	Jun. 30, 2017
Earnings Per Share [Abstract]
Schedule of reconciliation of income (numerator) and shares (denominator) used in computation of diluted earnings per share	The following table reconciles income (numerator) and shares (denominator) used in our computations of basic and diluted earnings per share for the periods presented (in thousands): Three Months Ended Six Months Ended 2017 2016 2017 2016 Income (Numerator) Net Income $ 46,035 $ 50,600 $ 116,738 $ 76,229 Net income attributable to noncontrolling interests (1,390 ) (1,181 ) (14,891 ) (2,670 ) Numerator for basic and diluted earnings per common share available to common shareholders $ 44,645 $ 49,419 $ 101,847 $ 73,559 Shares (Denominator) Weighted-average common shares outstanding 102,649 95,026 97,668 94,922 Dilutive effect of stock-settled appreciation rights, restricted stock awards and outstanding stock options 1,016 908 1,039 897 Weighted-average common and common equivalent shares outstanding 103,665 95,934 98,707 95,819

SEGMENT DATA (Tables)

SEGMENT DATA (Tables)	6 Months Ended
	Jun. 30, 2017
Segment Reporting [Abstract]
Schedule of segment financial information	Segment financial information is included in the following tables for the periods presented (in thousands): For the three months ended June 30, 2017 Broadcast Other Corporate Consolidated Revenue $ 617,985 $ 61,305 $ — $ 679,290 Depreciation of property and equipment 21,559 1,819 225 23,603 Amortization of definite-lived intangible assets and other assets 38,298 5,079 — 43,377 Amortization of program contract costs and net realizable value adjustments 28,896 — — 28,896 General and administrative overhead expenses 22,349 273 2,429 25,051 Research and development — 1,345 — 1,345 Operating income (loss) 131,284 (9,781 ) (2,654 ) 118,849 Interest expense 1,329 216 49,414 50,959 Income from equity and cost method investments — 1,462 — 1,462 Assets 4,675,262 768,572 845,702 6,289,536 For the three months ended June 30, 2016 Broadcast Other Corporate Consolidated Revenue $ 608,169 $ 58,365 $ — $ 666,534 Depreciation of property and equipment 22,526 1,617 266 24,409 Amortization of definite-lived intangible assets and other assets 38,551 7,074 — 45,625 Amortization of program contract costs and net realizable value adjustments 30,821 — — 30,821 General and administrative overhead expenses 12,995 283 1,001 14,279 Research and development — 1,209 — 1,209 Operating income (loss) 145,400 (15,059 ) (1,267 ) 129,074 Interest expense 1,411 1,555 50,950 53,916 Income from equity and cost method investments — 943 — 943 Six months ended June 30, 2017 Broadcast Other Corporate Consolidated Revenue $ 1,210,409 $ 118,816 $ — $ 1,329,225 Depreciation of property and equipment 43,505 3,588 491 47,584 Amortization of definite-lived intangible assets and other assets 76,624 12,307 — 88,931 Amortization of program contract costs and net realizable value adjustments 59,915 — — 59,915 General and administrative overhead expenses 41,340 561 3,726 45,627 Research and development — 2,502 — 2,502 Operating income (loss) 245,827 34,868 (a) (4,217 ) 276,478 Interest expense 2,695 1,429 104,153 108,277 Income from equity and cost method investments — 141 — 141 (a) - Includes gain on the sale of Alarm of $53.0 million of which $12.3 million was attributable to noncontrolling interests. See Note 2. Acquisitions and Disposition of Assets . Six months ended June 30, 2016 Broadcast Other Corporate Consolidated Revenue $ 1,155,002 $ 90,421 $ — $ 1,245,423 Depreciation of property and equipment 45,274 2,638 532 48,444 Amortization of definite-lived intangible assets and other assets 78,321 11,069 — 89,390 Amortization of program contract costs and net realizable value adjustments 64,281 — — 64,281 General and administrative overhead expenses 33,431 839 1,350 35,620 Research and development — 2,310 — 2,310 Operating income (loss) 243,451 (26,156 ) (1,882 ) 215,413 Interest expense 2,893 3,031 97,407 103,331 Income from equity and cost method investments — 1,366 — 1,366

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	6 Months Ended
	Jun. 30, 2017
Fair Value Disclosures [Abstract]
Schedule of carrying value and fair value of notes and debentures	The carrying value and fair value of our notes and debentures for the periods presented (in thousands): As of June 30, 2017 As of December 31, 2016 Carrying Value (a) Fair Value Carrying Value (a) Fair Value 6.125% Senior Unsecured Notes due 2022 500,000 521,495 500,000 521,240 5.875% Senior Unsecured Notes due 2026 350,000 358,239 350,000 351,456 5.625% Senior Unsecured Notes due 2024 550,000 565,615 550,000 562,755 5.375% Senior Unsecured Notes due 2021 600,000 617,016 600,000 617,892 5.125% Senior Unsecured Notes due 2027 400,000 387,188 400,000 382,028 Term Loan A 251,448 251,656 272,198 271,517 Term Loan B 1,363,150 1,363,150 1,365,625 1,364,841 Debt of variable interest entities 21,456 21,456 23,198 23,198 Debt of other operating divisions 26,313 26,313 135,211 135,211 (a) Amounts are carried net of debt discount and deferred financing cost, which are excluded in the above table, of $42.4 million as of June 30, 2017 and $43.4 million as of December 31, 2016.

CONDENSED CONSOLIDATING FINAN23

CONDENSED CONSOLIDATING FINANCIAL STATEMENTS (Tables)	6 Months Ended
	Jun. 30, 2017
Condensed Financial Information of Parent Company Only Disclosure [Abstract]
Schedule of condensed consolidating balance sheet	These statements are presented in accordance with the disclosure requirements under SEC Regulation S-X, Rule 3-10. CONDENSED CONSOLIDATING BALANCE SHEET AS OF JUNE 30, 2017 (in thousands) (unaudited) Sinclair Sinclair Guarantor Non- Eliminations Sinclair Cash $ — $ 755,841 $ 16,256 $ 23,950 $ — $ 796,047 Accounts receivable — — 505,902 32,642 (1,258 ) 537,286 Other current assets 709 2,777 90,821 22,392 (27,590 ) 89,109 Total current assets 709 758,618 612,979 78,984 (28,848 ) 1,422,442 Property and equipment, net 1,374 21,938 561,662 132,573 (12,064 ) 705,483 Investment in consolidated subsidiaries 1,127,687 3,607,749 4,179 — (4,739,615 ) — Goodwill — — 1,998,942 3,867 — 2,002,809 Indefinite-lived intangible assets — — 144,648 15,709 — 160,357 Definite-lived intangible assets — — 1,703,697 83,341 (61,530 ) 1,725,508 Other long-term assets 39,936 810,866 119,298 160,988 (858,151 ) 272,937 Total assets $ 1,169,706 $ 5,199,171 $ 5,145,405 $ 475,462 $ (5,700,208 ) $ 6,289,536 Accounts payable and accrued liabilities $ 440 $ 65,336 $ 213,618 $ 40,129 $ (28,765 ) $ 290,758 Current portion of long-term debt — 160,539 1,829 5,911 — 168,279 Current portion of affiliate long-term debt 793 — 1,323 737 (429 ) 2,424 Other current liabilities — — 66,346 9,681 — 76,027 Total current liabilities 1,233 225,875 283,116 56,458 (29,194 ) 537,488 Long-term debt — 3,812,286 29,162 42,711 — 3,884,159 Affiliate long-term debt — — 12,022 338,965 (337,774 ) 13,213 Other liabilities 10,297 35,730 1,212,811 185,885 (715,019 ) 729,704 Total liabilities 11,530 4,073,891 1,537,111 624,019 (1,081,987 ) 5,164,564 Total Sinclair Broadcast Group equity (deficit) 1,158,176 1,125,280 3,608,294 (110,969 ) (4,622,605 ) 1,158,176 Noncontrolling interests in consolidated subsidiaries — — — (37,588 ) 4,384 (33,204 ) Total liabilities and equity (deficit) $ 1,169,706 $ 5,199,171 $ 5,145,405 $ 475,462 $ (5,700,208 ) $ 6,289,536 CONDENSED CONSOLIDATING BALANCE SHEET AS OF DECEMBER 31, 2016 (in thousands) Sinclair Sinclair Guarantor Non- Eliminations Sinclair Cash $ — $ 232,297 $ 10,675 $ 17,012 $ — $ 259,984 Accounts receivable — — 478,190 37,024 (1,260 ) 513,954 Other current assets 5,561 3,143 124,313 25,406 (27,273 ) 131,150 Total current assets 5,561 235,440 613,178 79,442 (28,533 ) 905,088 Property and equipment, net 1,820 17,925 570,289 131,326 (3,784 ) 717,576 Investment in consolidated subsidiaries 551,250 3,614,605 4,179 — (4,170,034 ) — Goodwill — — 1,986,467 4,279 — 1,990,746 Indefinite-lived intangible assets — — 140,597 15,709 — 156,306 Definite-lived intangible assets — — 1,770,512 233,368 (59,477 ) 1,944,403 Other long-term assets $ 46,586 $ 819,506 $ 103,808 $ 169,817 $ (890,668 ) $ 249,049 Total assets $ 605,217 $ 4,687,476 $ 5,189,030 $ 633,941 $ (5,152,496 ) $ 5,963,168 Accounts payable and accrued liabilities $ 100 $ 69,118 $ 225,645 $ 48,815 $ (21,173 ) $ 322,505 Current portion of long-term debt — 55,501 1,851 113,779 — 171,131 Current portion of affiliate long-term debt 1,857 — 1,514 2,336 (2,103 ) 3,604 Other current liabilities — — 127,967 13,590 (2,324 ) 139,233 Total current liabilities 1,957 124,619 356,977 178,520 (25,600 ) 636,473 Long-term debt — 3,939,463 31,014 44,455 — 4,014,932 Affiliate long-term debt — — 12,663 396,957 (395,439 ) 14,181 Other liabilities 15,277 31,817 1,190,717 183,418 (681,583 ) 739,646 Total liabilities 17,234 4,095,899 1,591,371 803,350 (1,102,622 ) 5,405,232 Total Sinclair Broadcast Group equity (deficit) 587,983 591,577 3,597,659 (134,991 ) (4,054,245 ) 587,983 Noncontrolling interests in consolidated subsidiaries — — — (34,418 ) 4,371 (30,047 ) Total liabilities and equity (deficit) $ 605,217 $ 4,687,476 $ 5,189,030 $ 633,941 $ (5,152,496 ) $ 5,963,168
Schedule of condensed consolidating statement of operations and comprehensive income	CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME FOR THE THREE MONTHS ENDED JUNE 30, 2017 (in thousands) (unaudited) Sinclair Sinclair Guarantor Non- Eliminations Sinclair Net revenue $ — $ — $ 647,266 $ 53,034 $ (21,010 ) $ 679,290 Media program and production expenses — — 257,482 30,476 (18,966 ) 268,992 Selling, general and administrative 2,292 22,412 124,450 2,919 24 152,097 Depreciation, amortization and other operating expenses 225 1,651 112,238 26,012 (774 ) 139,352 Total operating expenses 2,517 24,063 494,170 59,407 (19,716 ) 560,441 Operating (loss) income (2,517 ) (24,063 ) 153,096 (6,373 ) (1,294 ) 118,849 Equity in earnings of consolidated subsidiaries 45,927 96,600 93 — (142,620 ) — Interest expense (34 ) (49,379 ) (1,425 ) (4,149 ) 4,028 (50,959 ) Other income (expense) 723 1,128 (1,895 ) 3,069 — 3,025 Total other income (expense) 46,616 48,349 (3,227 ) (1,080 ) (138,592 ) (47,934 ) Income tax benefit (provision) 546 24,636 (51,842 ) 1,780 — (24,880 ) Net income (loss) 44,645 48,922 98,027 (5,673 ) (139,886 ) 46,035 Net income attributable to the noncontrolling interests — — — (1,386 ) (4 ) (1,390 ) Net income (loss) attributable to Sinclair Broadcast Group $ 44,645 $ 48,922 $ 98,027 $ (7,059 ) $ (139,890 ) $ 44,645 Comprehensive income (loss) $ 44,645 $ 48,922 $ 98,027 $ (5,673 ) $ (139,886 ) $ 46,035 CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME FOR THE THREE MONTHS ENDED JUNE 30, 2016 (in thousands) (unaudited) Sinclair Sinclair Guarantor Non- Eliminations Sinclair Net revenue $ — $ — $ 627,517 $ 62,037 $ (23,020 ) $ 666,534 Media program and production expenses — — 235,138 30,440 (21,958 ) 243,620 Selling, general and administrative 1,001 14,121 125,331 2,326 (12 ) 142,767 Depreciation, amortization and other operating expenses 266 1,219 116,970 33,134 (516 ) 151,073 Total operating expenses 1,267 15,340 477,439 65,900 (22,486 ) 537,460 Operating (loss) income (1,267 ) (15,340 ) 150,078 (3,863 ) (534 ) 129,074 Equity in earnings of consolidated subsidiaries 49,136 100,678 69 — (149,883 ) — Interest expense (41 ) (50,908 ) (1,098 ) (8,107 ) 6,238 (53,916 ) Other income (expense) 1,087 148 622 190 — 2,047 Total other income (expense) 50,182 49,918 (407 ) (7,917 ) (143,645 ) (51,869 ) Income tax benefit (provision) 504 18,034 (47,722 ) 2,579 — (26,605 ) Net income (loss) 49,419 52,612 101,949 (9,201 ) (144,179 ) 50,600 Net income attributable to the noncontrolling interests — — — (1,262 ) 81 (1,181 ) Net income (loss) attributable to Sinclair Broadcast Group $ 49,419 $ 52,612 $ 101,949 $ (10,463 ) $ (144,098 ) $ 49,419 Comprehensive income (loss) $ 49,419 $ 52,612 $ 101,949 $ (9,201 ) $ (144,179 ) $ 50,600 CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME FOR THE SIX MONTHS ENDED JUNE 30, 2017 (in thousands) (unaudited) Sinclair Sinclair Guarantor Non- Eliminations Sinclair Net revenue $ — $ — $ 1,262,975 $ 106,420 $ (40,170 ) $ 1,329,225 Media program and production expenses — — 505,686 58,920 (37,459 ) 527,147 Selling, general and administrative 3,588 41,370 246,884 5,552 — 297,394 Depreciation, amortization and other operating expenses 491 3,376 223,467 2,091 (1,219 ) 228,206 Total operating expenses 4,079 44,746 976,037 66,563 (38,678 ) 1,052,747 Operating (loss) income (4,079 ) (44,746 ) 286,938 39,857 (1,492 ) 276,478 Equity in earnings of consolidated subsidiaries 104,116 184,405 143 — (288,664 ) — Interest expense (71 ) (104,083 ) (2,545 ) (11,772 ) 10,194 (108,277 ) Loss from the extinguishment of debt — (1,404 ) — — — (1,404 ) Other income 824 1,928 (1,399 ) 2,047 — 3,400 Total other income (expense) 104,869 80,846 (3,801 ) (9,725 ) (278,470 ) (106,281 ) Income tax benefit (provision) 1,057 49,741 (96,071 ) (8,186 ) — (53,459 ) Net income (loss) 101,847 85,841 187,066 21,946 (279,962 ) 116,738 Net income attributable to the noncontrolling interests — — — (14,879 ) (12 ) (14,891 ) Net income (loss) attributable to Sinclair Broadcast Group $ 101,847 $ 85,841 $ 187,066 $ 7,067 $ (279,974 ) $ 101,847 Comprehensive income (loss) $ 101,847 $ 85,841 $ 187,066 $ 21,946 $ (279,962 ) $ 116,738 CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME FOR THE SIX MONTHS ENDED JUNE 30, 2016 (in thousands) (unaudited) Sinclair Sinclair Guarantor Non- Eliminations Sinclair Net revenue $ — $ — $ 1,172,629 $ 114,287 $ (41,493 ) $ 1,245,423 Media program and production expenses — — 444,864 54,821 (40,188 ) 459,497 Selling, general and administrative 2,003 36,219 236,442 4,487 (34 ) 279,117 Depreciation, amortization and other operating expenses 532 2,410 225,445 63,990 (981 ) 291,396 Total operating expenses 2,535 38,629 906,751 123,298 (41,203 ) 1,030,010 Operating (loss) income (2,535 ) (38,629 ) 265,878 (9,011 ) (290 ) 215,413 Equity in earnings of consolidated subsidiaries 73,424 175,533 119 — (249,076 ) — Interest expense (136 ) (97,271 ) (2,299 ) (16,003 ) 12,378 (103,331 ) Other income (expense) 2,230 267 609 (174 ) — 2,932 Total other income (expense) 75,518 78,529 (1,571 ) (16,177 ) (236,698 ) (100,399 ) Income tax benefit (provision) 576 41,137 (85,902 ) 5,404 — (38,785 ) Net income (loss) 73,559 81,037 178,405 (19,784 ) (236,988 ) 76,229 Net income attributable to the noncontrolling interests — — — (2,161 ) (509 ) (2,670 ) Net income (loss) attributable to Sinclair Broadcast Group $ 73,559 $ 81,037 $ 178,405 $ (21,945 ) $ (237,497 ) $ 73,559 Comprehensive income (loss) $ 73,559 $ 81,037 $ 178,405 $ (19,784 ) $ (236,988 ) $ 76,229
Schedule of condensed consolidating statement of cash flows	CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS FOR THE SIX MONTHS ENDED JUNE 30, 2017 (in thousands) (unaudited) Sinclair Sinclair Guarantor Non- Eliminations Sinclair NET CASH FLOWS FROM (USED IN) OPERATING ACTIVITIES $ 2,030 $ (91,863 ) $ 232,678 $ (4,671 ) $ 3,308 $ 141,482 CASH FLOWS FROM (USED IN) INVESTING ACTIVITIES: Acquisition of property and equipment (117 ) (3,913 ) (27,596 ) (1,881 ) — (33,507 ) Acquisition of businesses, net of cash acquired — (8,308 ) (20,021 ) — — (28,329 ) Purchase of alarm monitoring contracts — — — (5,682 ) — (5,682 ) Proceeds from sale of non-media business — — — 192,639 — 192,639 Investments in equity and cost method investees (945 ) (481 ) (15,046 ) (4,218 ) — (20,690 ) Other, net 2,266 (8,189 ) 830 2,029 — (3,064 ) Net cash flows from (used in) investing activities 1,204 (20,891 ) (61,833 ) 182,887 — 101,367 CASH FLOWS (USED IN) FROM FINANCING ACTIVITIES: Proceeds from notes payable, commercial bank financing and capital leases — 159,669 — 3,420 — 163,089 Repayments of notes payable, commercial bank financing and capital leases — (186,319 ) (731 ) (114,118 ) — (301,168 ) Proceeds from the issuance of Class A Common Stock 487,883 — — — — 487,883 Dividends paid on Class A and Class B Common Stock (34,744 ) — — — — (34,744 ) Distributions to noncontrolling interests — — — (18,048 ) — (18,048 ) Increase (decrease) in intercompany payables (453,712 ) 662,973 (165,240 ) (40,563 ) (3,458 ) — Other, net (2,661 ) (25 ) 707 (1,969 ) 150 (3,798 ) Net cash flows (used in) from financing activities (3,234 ) 636,298 (165,264 ) (171,278 ) (3,308 ) 293,214 NET INCREASE IN CASH AND CASH EQUIVALENTS — 523,544 5,581 6,938 — 536,063 CASH AND CASH EQUIVALENTS, beginning of period — 232,297 10,675 17,012 — 259,984 CASH AND CASH EQUIVALENTS, end of period $ — $ 755,841 $ 16,256 $ 23,950 $ — $ 796,047 CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS FOR THE SIX MONTHS ENDED JUNE 30, 2016 (in thousands) (unaudited) Sinclair Sinclair Guarantor Non- Eliminations Sinclair NET CASH FLOWS FROM (USED IN) OPERATING ACTIVITIES $ 2,296 $ (81,821 ) $ 282,530 $ (8,483 ) $ 15,136 $ 209,658 CASH FLOWS FROM (USED IN) INVESTING ACTIVITIES: Acquisition of property and equipment — (1,871 ) (45,155 ) (3,206 ) 446 (49,786 ) Acquisition of businesses, net of cash acquired — — (412,729 ) (10,375 ) — (423,104 ) Purchase of alarm monitoring contracts — — — (21,616 ) — (21,616 ) Investments in equity and cost method investees — (10,827 ) — (11,016 ) — (21,843 ) Loans to affiliates — (19,500 ) — — — (19,500 ) Other, net 1,197 3,725 58 2,419 — 7,399 Net cash flows from (used in) investing activities 1,197 (28,473 ) (457,826 ) (43,794 ) 446 (528,450 ) CASH FLOWS (USED IN) FROM FINANCING ACTIVITIES: Proceeds from notes payable, commercial bank financing and capital leases — 595,000 — 12,555 — 607,555 Repayments of notes payable, commercial bank financing and capital leases — (272,672 ) (719 ) (6,184 ) — (279,575 ) Dividends paid on Class A and Class B Common Stock (32,781 ) — — — — (32,781 ) Distributions to noncontrolling interests — — — (4,170 ) — (4,170 ) Repurchase of outstanding Class A Common Stock (11,247 ) — — — — (11,247 ) Increase (decrease) in intercompany payables 42,586 (249,887 ) 181,829 41,172 (15,700 ) — Other, net (2,051 ) (5,681 ) 750 (371 ) 118 (7,235 ) Net cash flows (used in) from financing activities (3,493 ) 66,760 181,860 43,002 (15,582 ) 272,547 NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS — (43,534 ) 6,564 (9,275 ) — (46,245 ) CASH AND CASH EQUIVALENTS, beginning of period — 115,771 235 33,966 — 149,972 CASH AND CASH EQUIVALENTS, end of period $ — $ 72,237 $ 6,799 $ 24,691 $ — $ 103,727

NATURE OF OPERATIONS AND SUMM24

NATURE OF OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Nature of Operations (Narrative) (Details)	Jun. 30, 2017channelstationmarket
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of television stations owned | station	173
Number of markets | market	81
Number of channels | channel	528

NATURE OF OPERATIONS AND SUMM25

NATURE OF OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Variable Interest Entities (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016	Dec. 31, 2016
Variable Interest Entity [Line Items]
Media revenues	$ 679,290	$ 666,534	$ 1,329,225	$ 1,245,423
Income from equity and cost method investments	1,462	943	141	1,366
Eliminations
Variable Interest Entity [Line Items]
Media revenues	(21,010)	(23,020)	$ (40,170)	(41,493)
Consolidated VIEs, aggregated
Variable Interest Entity [Line Items]
Initial term of certain outsourcing agreements			5 years
Consolidated VIEs | Eliminations
Variable Interest Entity [Line Items]
Liabilities associated with the certain outsourcing agreements and purchase options	76,700		$ 76,700		$ 74,500
Consolidated VIEs | Cunningham | Eliminations
Variable Interest Entity [Line Items]
Total payments made under the LMA excluded from liabilities	42,400		42,400		40,800
Total capital leased liabilities excluded from VIE consolidation	4,500		4,500		4,500
VIEs which are not primary beneficiary
Variable Interest Entity [Line Items]
Carrying amount	109,000		109,000		$ 117,000
Income from equity and cost method investments	$ 3,800	$ 900	$ 3,500	$ 1,200

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		Jun. 30, 2017	Dec. 31, 2016
CURRENT ASSETS:
Accounts receivable		$ 537,286	$ 513,954
Other current assets		36,343	36,067
Total current assets		1,422,442	905,088
PROGRAM CONTRACT COSTS, less current portion		5,080	8,919
PROPERTY AND EQUIPMENT, net		705,483	717,576
DEFINITE-LIVED INTANGIBLE ASSETS, net		1,725,508	1,944,403
OTHER ASSETS		246,861	220,630
Total assets	[1]	6,289,536	5,963,168
CURRENT LIABILITIES:
Other current liabilities		76,027	139,233
LONG-TERM LIABILITIES:
Notes payable, capital leases and commercial bank financing, less current portion		3,884,159	4,014,932
Program contracts payable, less current portion		42,072	53,836
Other long-term liabilities		86,554	76,493
Total liabilities	[1]	5,164,564	5,405,232
Consolidated VIEs, aggregated
CURRENT ASSETS:
Accounts receivable		21,725	21,879
Other current assets		4,991	12,076
Total current assets		26,716	33,955
PROGRAM CONTRACT COSTS, less current portion		1,171	2,468
PROPERTY AND EQUIPMENT, net		6,620	2,996
GOODWILL AND INDEFINITE-LIVED INTANGIBLE ASSETS		16,475	16,475
DEFINITE-LIVED INTANGIBLE ASSETS, net		78,134	79,509
OTHER ASSETS		5,601	6,871
Total assets		134,717	142,274
CURRENT LIABILITIES:
Other current liabilities		14,692	18,992
LONG-TERM LIABILITIES:
Notes payable, capital leases and commercial bank financing, less current portion		18,088	19,449
Program contracts payable, less current portion		10,885	14,353
Other long-term liabilities		8,842	12,921
Total liabilities		$ 52,507	$ 65,715
[1]	Our consolidated total assets as of June 30, 2017 and December 31, 2016 include total assets of variable interest entities (VIEs) of $134.7 million and $142.3 million, respectively, which can only be used to settle the obligations of the VIEs. Our consolidated total liabilities as of June 30, 2017 and December 31, 2016 include total liabilities of the VIEs of $29.4 million and $40.9 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 - Equity Offering (Details) - Class A Common Stock - Public Offering $ / shares in Units, shares in Millions, $ in Millions	Mar. 15, 2017USD ($)$ / sharesshares
Subsidiary, Sale of Stock [Line Items]
Sale of stock, number of shares issued (in shares) | shares	12
Sale of stock, price per share (USD per share) | $ / shares	$ 42
Sale of stock, consideration received on transaction | $	$ 487.9

NATURE OF OPERATIONS AND SUMM28

NATURE OF OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Share Repurchase Program (Details) - USD ($) shares in Millions	Aug. 09, 2017	Sep. 30, 2016	Aug. 31, 2017	Mar. 20, 2014
Equity, Class of Treasury Stock [Line Items]
Stock repurchase program, authorized amount				$ 150,000,000
Stock repurchase program, additional authorized repurchase amount		$ 150,000,000
Subsequent Event | Class A Common Stock
Equity, Class of Treasury Stock [Line Items]
Treasury stock, shares acquired (in shares)	0.2
Treasury stock, value acquired	$ 7,800,000
Stock repurchase program, remaining authorized repurchase amount			$ 111,400,000

NATURE OF OPERATIONS AND SUMM29

NATURE OF OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Subsequent Events (Details) - $ / shares	Aug. 09, 2017	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Subsequent Event [Line Items]
Dividends declared per share (USD per share)		$ 0.180	$ 0.180	$ 0.360	$ 0.345
Subsequent Event
Subsequent Event [Line Items]
Dividends declared per share (USD per share)	$ 0.18

ACQUISITIONS AND DISPOSITION 30

ACQUISITIONS AND DISPOSITION OF ASSETS (Narrative) (Details) $ / shares in Units, $ in Thousands	1 Months Ended				3 Months Ended		6 Months Ended		12 Months Ended
	May 31, 2017USD ($)stationmarket$ / sharesshares	Apr. 30, 2017USD ($)stationmarket	Mar. 31, 2017USD ($)	Mar. 31, 2016USD ($)	Jun. 30, 2017USD ($)stationmarket	Jun. 30, 2016USD ($)	Jun. 30, 2017USD ($)stationmarket	Jun. 30, 2016USD ($)	Dec. 31, 2016USD ($)	Mar. 07, 2017USD ($)
Business Acquisition [Line Items]
Acquisition related costs									$ 200
Net revenues					$ 36,500	$ 27,500	$ 69,300	$ 35,100
Operating income (loss)					(2,000)	(9,700)	5,200	(11,100)
Gains of sale of broadcast assets					$ 150	$ 11	$ 53,497	$ 2,671
Number of television stations owned | station					173		173
Number of markets | market					81		81
Tennis Media Company
Business Acquisition [Line Items]
Business combination purchase price			$ 23,000
Earn-out potential					$ 6,000		$ 6,000
Working capital adjustment									2,800
Tennis Channel
Business Acquisition [Line Items]
Business combination purchase price				$ 350,000
Working capital adjustment				9,200
Tennis Channel | Customer relationships
Business Acquisition [Line Items]
Finite-lived intangible assets acquired				$ 272,700
Acquired finite-lived intangible assets, weighted average useful life				15 years
Television Station Acquisitions
Business Acquisition [Line Items]
Business combination purchase price									72,000
Working capital adjustment									100
Bonten
Business Acquisition [Line Items]
Business combination purchase price		$ 240,000
Number of television stations owned | station		14
Number of markets | market		8
Number of stations to which sales services were provided | station		4
Tribune Media Company
Business Acquisition [Line Items]
Business combination purchase price	$ 3,900,000
Number of television stations owned | station	42
Number of markets | market	33
Share price of acquisition | $ / shares	$ 43.50
Assumption of debt from acquisition	$ 2,700,000
Disposal Group, Disposed of by Sale, Not Discontinued Operations | Disposals in 2016
Business Acquisition [Line Items]
Carrying value of broadcast assets exchanged									23,800
Gains of sale of broadcast assets									$ 4,400
Disposal Group, Disposed of by Sale, Not Discontinued Operations | Alarm Funding Associates
Business Acquisition [Line Items]
Sale price of assets sold										$ 200,000
Working capital and transaction costs										$ 5,000
Gain on sale of consolidated non-media business					53,000
Gain on sale attributable to non-controlling interest					$ 12,300
FOX | Tribune Media Company
Business Acquisition [Line Items]
Number of television stations owned | station	14
CW | Tribune Media Company
Business Acquisition [Line Items]
Number of television stations owned | station	12
CBS | Tribune Media Company
Business Acquisition [Line Items]
Number of television stations owned | station	6
ABC | Tribune Media Company
Business Acquisition [Line Items]
Number of television stations owned | station	3
NBC | Tribune Media Company
Business Acquisition [Line Items]
Number of television stations owned | station	2
MyNetworkTV | Tribune Media Company
Business Acquisition [Line Items]
Number of television stations owned | station	3
Independent Station | Tribune Media Company
Business Acquisition [Line Items]
Number of television stations owned | station	2
Tribune Media Company, Stockholders | Tribune Media Company
Business Acquisition [Line Items]
Cash stockholders will receive (in dollars per share) | $ / shares	$ 35
Tribune Media Company, Stockholders | Class A Common Stock | Tribune Media Company
Business Acquisition [Line Items]
Number of shares to be received for a share of acquired stock (in shares) | shares	0.23

ACQUISITIONS AND DISPOSITION 31

ACQUISITIONS AND DISPOSITION OF ASSETS - Fair Value of Acquired Assets and Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016	Jun. 30, 2016
Allocated fair value of acquired assets and assumed liabilities
Goodwill	$ 2,002,809	$ 1,990,746
Tennis Channel
Allocated fair value of acquired assets and assumed liabilities
Cash			$ 5,111
Accounts receivable			17,629
Prepaid expenses and other current assets			6,518
Property and equipment			5,964
Definite-lived intangible assets			272,686
Indefinite-lived intangible assets			23,400
Other assets			619
Accounts payable and accrued liabilities			(7,414)
Capital leases			(115)
Deferred tax liability			(16,991)
Other long term liabilities			(1,669)
Fair value of identifiable net assets acquired			305,738
Goodwill			53,427
Total			$ 359,165

ACQUISITIONS AND DISPOSITION 32

ACQUISITIONS AND DISPOSITION OF ASSETS - Pro Forma Results (Details) $ / shares in Units, $ in Thousands	6 Months Ended
	Jun. 30, 2016USD ($)$ / shares
Business Combinations [Abstract]
Total revenues	$ 1,259,915
Net Income	75,322
Net Income attributable to Sinclair Broadcast Group	$ 72,652
Basic earnings per share attributable to Sinclair (USD per share) | $ / shares	$ 0.77
Diluted earnings per share attributable to Sinclair (USD per share) | $ / shares	$ 0.76

NOTES PAYABLE AND COMMERCIAL 33

NOTES PAYABLE AND COMMERCIAL BANK FINANCING (Details) - USD ($)	Jan. 03, 2017	May 31, 2017	Jun. 30, 2017	Mar. 31, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016	Dec. 31, 2016	Aug. 30, 2016
Debt Instrument [Line Items]
Debt issuance costs incurred			$ 42,400,000			$ 42,400,000		$ 43,400,000
Loss on debt extinguishment			0		$ 0	1,404,000	$ 0
Outstanding debt			$ 4,068,100,000			$ 4,068,100,000
Senior Unsecured Notes | 5.125% Senior Unsecured Notes due 2027
Debt Instrument [Line Items]
Interest rate			5.125%			5.125%			5.125%
Bank Credit Agreement
Debt Instrument [Line Items]
Prepayment premium, percent	1.00%
Debt issuance costs incurred	$ 11,600,000
Debt issuance discount	3,400,000
Financing costs expensed	7,700,000
Financing costs capitalized	$ 500,000
Loss on debt extinguishment				$ 1,400,000
Bank Credit Agreement | Term Loan | Term Loan B
Debt Instrument [Line Items]
Outstanding debt			$ 1,349,600,000			$ 1,349,600,000		1,353,500,000
Bank Credit Agreement | Revolving Credit Facility
Debt Instrument [Line Items]
Outstanding balance			0			0		$ 0
Current borrowing capacity			$ 484,400,000			$ 484,400,000
London Interbank Offered Rate (LIBOR) | Bank Credit Agreement | Term Loan | Term Loan B
Debt Instrument [Line Items]
Basis spread on variable rate	2.25%
London Interbank Offered Rate (LIBOR) | Bank Credit Agreement | Revolving Credit Facility | Revolver
Debt Instrument [Line Items]
Basis spread on variable rate	2.00%
Tribune Media Company | Extended Term Loan
Debt Instrument [Line Items]
Debt instrument, term		9 years
Tribune Media Company | Senior Unsecured Notes | Senior Notes 5.875 Percent Due 2022, Tribune Notes
Debt Instrument [Line Items]
Interest rate			5.875%			5.875%
Consent fee			$ 8,250,000			$ 8,250,000
Tribune Media Company | Secured Debt | Incremental Term B Facility
Debt Instrument [Line Items]
Debt instrument, term		7 years
Maximum borrowing capacity		$ 3,747,000,000
Tribune Media Company | Bridge Loan | Bridge Facility
Debt Instrument [Line Items]
Debt instrument, term		1 year
Maximum borrowing capacity		$ 785,000,000
Tribune Media Company | Line of Credit | Incremental Revolving Commitments
Debt Instrument [Line Items]
Maximum borrowing capacity		$ 225,000,000

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details) $ in Thousands	Jul. 29, 2016	Jul. 31, 2017USD ($)	Feb. 28, 2017USD ($)station	Jun. 30, 2017USD ($)station	Jun. 30, 2016USD ($)	Jun. 30, 2017USD ($)station	Jun. 30, 2016USD ($)	Sep. 06, 2016station
COMMITMENTS AND CONTINGENCIES
Period subject to ongoing compliance monitoring by the FCC	36 months
Net revenue | $				$ 679,290	$ 666,534	$ 1,329,225	$ 1,245,423
FCC national ownership cap, percentage of domestic households reached								39.00%
Number of television stations owned and operated				173		173
Number of stations assigned new channels			93
Broadcast incentive auction, total legislation funds to reimburse stations | $			$ 1,750,000
FCC Consent Decree Settlement
COMMITMENTS AND CONTINGENCIES
Number of television stations owned and operated								28
Percentage of domestic households reached, UHF discount applied								25.00%
LMA
COMMITMENTS AND CONTINGENCIES
Number of separately owned television stations having programming agreement						2
Number of stations that programs substantial portions of broadcast day and sells advertising time						1
Joint Sales Agreements
COMMITMENTS AND CONTINGENCIES
Net revenue | $				$ 16,100	$ 14,300	$ 29,200	$ 26,400
Forecast
COMMITMENTS AND CONTINGENCIES
Broadcast incentive auction, proceeds | $		$ 310,700

EARNINGS PER SHARE (Details)

EARNINGS PER SHARE (Details) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Income (Numerator)
Net Income	$ 46,035	$ 50,600	$ 116,738	$ 76,229
Net income attributable to noncontrolling interests	(1,390)	(1,181)	(14,891)	(2,670)
Numerator for basic and diluted earnings per common share available to common shareholders	$ 44,645	$ 49,419	$ 101,847	$ 73,559
Shares (Denominator)
Weighted-average common shares outstanding (shares)	102,649	95,026	97,668	94,922
Dilutive effect of stock-settled appreciation rights, restricted stock awards and outstanding stock options (shares)	1,016	908	1,039	897
Weighted-average common and common equivalent shares outstanding (shares)	103,665	95,934	98,707	95,819
Additional Disclosures
Potentially antidilutive dilutive securities excluded from calculation of diluted earnings per share (shares)	0	525	0	525

SEGMENT DATA (Narrative) (Detai

SEGMENT DATA (Narrative) (Details) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2017USD ($)market	Jun. 30, 2016USD ($)	Jun. 30, 2017USD ($)market	Jun. 30, 2016USD ($)
Segment data
Number of markets | market	81		81
Intercompany loans | $	$ 172.7	$ 226.4	$ 172.7	$ 226.4
Intercompany interest expense | $	$ 4.2	$ 6.1	$ 9.9	$ 12.1
Operating segments | Broadcast
Segment data
Number of markets | market	81		81

SEGMENT DATA (Details)

SEGMENT DATA (Details) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016	Dec. 31, 2016
Segment data
Revenue		$ 679,290	$ 666,534	$ 1,329,225	$ 1,245,423
Depreciation of property and equipment		23,603	24,409	47,584	48,444
Amortization of definite-lived intangible assets and other assets		43,377	45,625	88,931	89,390
Amortization of program contract costs and net realizable value adjustments		28,896	30,821	59,915	64,281
General and administrative overhead expenses		25,051	14,279	45,627	35,620
Research and development expenses		1,345	1,209	2,502	2,310
Operating income (loss)		118,849	129,074	276,478	215,413
Interest expense		50,959	53,916	108,277	103,331
Income from equity and cost method investments		1,462	943	141	1,366
Assets	[1]	6,289,536		6,289,536		$ 5,963,168
Operating segments | Broadcast
Segment data
Revenue		617,985	608,169	1,210,409	1,155,002
Depreciation of property and equipment		21,559	22,526	43,505	45,274
Amortization of definite-lived intangible assets and other assets		38,298	38,551	76,624	78,321
Amortization of program contract costs and net realizable value adjustments		28,896	30,821	59,915	64,281
General and administrative overhead expenses		22,349	12,995	41,340	33,431
Research and development expenses		0	0	0	0
Operating income (loss)		131,284	145,400	245,827	243,451
Interest expense		1,329	1,411	2,695	2,893
Income from equity and cost method investments		0	0	0	0
Assets		4,675,262		4,675,262
Operating segments | Other
Segment data
Revenue		61,305	58,365	118,816	90,421
Depreciation of property and equipment		1,819	1,617	3,588	2,638
Amortization of definite-lived intangible assets and other assets		5,079	7,074	12,307	11,069
Amortization of program contract costs and net realizable value adjustments		0	0	0	0
General and administrative overhead expenses		273	283	561	839
Research and development expenses		1,345	1,209	2,502	2,310
Operating income (loss)		(9,781)	(15,059)	34,868	(26,156)
Interest expense		216	1,555	1,429	3,031
Income from equity and cost method investments		1,462	943	141	1,366
Assets		768,572		768,572
Corporate
Segment data
Revenue		0	0	0	0
Depreciation of property and equipment		225	266	491	532
Amortization of definite-lived intangible assets and other assets		0	0	0	0
Amortization of program contract costs and net realizable value adjustments		0	0	0	0
General and administrative overhead expenses		2,429	1,001	3,726	1,350
Research and development expenses		0	0	0	0
Operating income (loss)		(2,654)	(1,267)	(4,217)	(1,882)
Interest expense		49,414	50,950	104,153	97,407
Income from equity and cost method investments		0	$ 0	0	$ 0
Assets		845,702		$ 845,702
Alarm Funding Associates | Disposal Group, Disposed of by Sale, Not Discontinued Operations
Segment data
Gain on sale of consolidated non-media business		53,000
Gain on sale attributable to non-controlling interest		$ 12,300
[1]	Our consolidated total assets as of June 30, 2017 and December 31, 2016 include total assets of variable interest entities (VIEs) of $134.7 million and $142.3 million, respectively, which can only be used to settle the obligations of the VIEs. Our consolidated total liabilities as of June 30, 2017 and December 31, 2016 include total liabilities of the VIEs of $29.4 million and $40.9 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.

RELATED PERSON TRANSACTIONS - T

RELATED PERSON TRANSACTIONS - Transactions with our Controlling Shareholders (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Lease Services | Entities owned by the controlling shareholders
Related Party Transaction [Line Items]
Lease payments made to entities	$ 1.2	$ 1.3	$ 2.5	$ 2.5
Charter Aircraft | Controlling shareholders | Maximum
Related Party Transaction [Line Items]
Aircraft expenses	$ 0.4	$ 0.3	$ 0.9	$ 0.7

RELATED PERSON TRANSACTIONS - C

RELATED PERSON TRANSACTIONS - Cunningham Broadcasting Corporation (Details) $ in Thousands	1 Months Ended			3 Months Ended		6 Months Ended
	Aug. 31, 2016USD ($)	Apr. 30, 2016USD ($)	Jan. 31, 2016USD ($)	Jun. 30, 2017USD ($)	Jun. 30, 2016USD ($)	Jun. 30, 2017USD ($)renewal	Jun. 30, 2016USD ($)
Related Party Transaction [Line Items]
Net revenue				$ 679,290	$ 666,534	$ 1,329,225	$ 1,245,423
Affiliated Entity | Cunningham
Related Party Transaction [Line Items]
Agreement renewal period			1 year
Right to acquire capital stock				100.00%		100.00%
Remaining purchase price				$ 53,600		$ 53,600
Purchase options, broadcast stations				200		200
Related party promissory note			$ 19,500
Loan receivable, interest rate			5.00%
Related party interest income				200		$ 500	500
Proceeds from sale of master control equipment		$ 700
Annual revenue from master control services		$ 200
Annual revenue for share service	$ 1,000
Affiliated Entity | Cunningham | LMA
Related Party Transaction [Line Items]
Number of additional renewal terms | renewal						2
Agreement renewal period						5 years
Lease payments made to entities				$ 1,900	2,300	$ 3,900	4,500
Affiliated Entity | Cunningham | LMA | Minimum
Related Party Transaction [Line Items]
Percentage of net broadcast revenue used to determine annual LMA fees required to be paid				3.00%		3.00%
Amount used to determine annual LMA fees required to be paid				$ 4,700		$ 4,700
Annual increase in aggregate purchase price				6.00%		6.00%
Cunningham license related assets | Cunningham
Related Party Transaction [Line Items]
Agreement renewal period						8 years
Amount received				$ 1,400	1,500	$ 2,800	2,800
Net revenue				$ 26,900	$ 30,900	$ 53,000	$ 58,500

RELATED PERSON TRANSACTIONS - A

RELATED PERSON TRANSACTIONS - Atlantic Automotive Corporation (Details) - Atlantic Automotive Corporation - Affiliated Entity $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2017USD ($)real_estate_venture	Jun. 30, 2016USD ($)	Jun. 30, 2017USD ($)real_estate_venture	Jun. 30, 2016USD ($)
Lease Services
Related Party Transaction [Line Items]
Annual rent	$ 0.1	$ 0.2	$ 0.4	$ 0.5
Lease Services | Real estate ventures in Towson, MD
Related Party Transaction [Line Items]
Number of consolidated real estate ventures | real_estate_venture	1		1
Maximum | Advertising time
Related Party Transaction [Line Items]
Amount received	$ 0.2	$ 0.2	$ 0.3	$ 0.2

RELATED PERSON TRANSACTIONS - L

RELATED PERSON TRANSACTIONS - Leased Property by Real Estate Ventures (Details) - President and Chief Executive Officer $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2017USD ($)real_estate_venture	Jun. 30, 2016USD ($)	Jun. 30, 2017USD ($)real_estate_venture	Jun. 30, 2016USD ($)
Lease Services
Related Party Transaction [Line Items]
Payments for services (less than)	$ 0.1	$ 0.1	$ 0.1	$ 0.1
Real estate ventures in Baltimore, MD | Lease Services
Related Party Transaction [Line Items]
Number of consolidated real estate ventures | real_estate_venture	1		1
Real estate ventures in Towson, MD | Lease Services
Related Party Transaction [Line Items]
Number of consolidated real estate ventures | real_estate_venture	1		1
Annual rent	$ 0.1	0.1	$ 0.1	0.2
Maximum | Real estate ventures in Baltimore, MD | Lease Services
Related Party Transaction [Line Items]
Amount received	$ 0.1	$ 0.2	$ 0.2	$ 0.3

RELATED PERSON TRANSACTIONS - O

RELATED PERSON TRANSACTIONS - Other Transactions with Equity Method Investments (Details) $ in Millions	Apr. 30, 2017USD ($)
120 Sports LLC
Schedule of Equity Method Investments [Line Items]
Equity method investment	$ 15

FAIR VALUE MEASUREMENTS (Detail

FAIR VALUE MEASUREMENTS (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016	Aug. 30, 2016
FAIR VALUE MEASUREMENTS:
Debt discount and deferred financing costs	$ 42,400	$ 43,400
Level 2 | Carrying Value | Debt of variable interest entities
FAIR VALUE MEASUREMENTS:
Debt fair value disclosure	21,456	23,198
Level 2 | Carrying Value | Debt of other operating divisions
FAIR VALUE MEASUREMENTS:
Debt fair value disclosure	26,313	135,211
Level 2 | Fair Value | Debt of variable interest entities
FAIR VALUE MEASUREMENTS:
Debt fair value disclosure	21,456	23,198
Level 2 | Fair Value | Debt of other operating divisions
FAIR VALUE MEASUREMENTS:
Debt fair value disclosure	$ 26,313	135,211
Senior Unsecured Notes | 6.125% Senior Unsecured Notes due 2022
FAIR VALUE MEASUREMENTS:
Interest rate	6.125%
Senior Unsecured Notes | 5.875% Senior Unsecured Notes due 2026
FAIR VALUE MEASUREMENTS:
Interest rate	5.875%
Senior Unsecured Notes | 5.625% Senior Unsecured Notes due 2024
FAIR VALUE MEASUREMENTS:
Interest rate	5.625%
Senior Unsecured Notes | 5.375% Senior Unsecured Notes due 2021
FAIR VALUE MEASUREMENTS:
Interest rate	5.375%
Senior Unsecured Notes | 5.125% Senior Unsecured Notes due 2027
FAIR VALUE MEASUREMENTS:
Interest rate	5.125%		5.125%
Senior Unsecured Notes | Level 2 | Carrying Value | 6.125% Senior Unsecured Notes due 2022
FAIR VALUE MEASUREMENTS:
Debt fair value disclosure	$ 500,000	500,000
Senior Unsecured Notes | Level 2 | Carrying Value | 5.875% Senior Unsecured Notes due 2026
FAIR VALUE MEASUREMENTS:
Debt fair value disclosure	350,000	350,000
Senior Unsecured Notes | Level 2 | Carrying Value | 5.625% Senior Unsecured Notes due 2024
FAIR VALUE MEASUREMENTS:
Debt fair value disclosure	550,000	550,000
Senior Unsecured Notes | Level 2 | Carrying Value | 5.375% Senior Unsecured Notes due 2021
FAIR VALUE MEASUREMENTS:
Debt fair value disclosure	600,000	600,000
Senior Unsecured Notes | Level 2 | Carrying Value | 5.125% Senior Unsecured Notes due 2027
FAIR VALUE MEASUREMENTS:
Debt fair value disclosure	400,000	400,000
Senior Unsecured Notes | Level 2 | Fair Value | 6.125% Senior Unsecured Notes due 2022
FAIR VALUE MEASUREMENTS:
Debt fair value disclosure	521,495	521,240
Senior Unsecured Notes | Level 2 | Fair Value | 5.875% Senior Unsecured Notes due 2026
FAIR VALUE MEASUREMENTS:
Debt fair value disclosure	358,239	351,456
Senior Unsecured Notes | Level 2 | Fair Value | 5.625% Senior Unsecured Notes due 2024
FAIR VALUE MEASUREMENTS:
Debt fair value disclosure	565,615	562,755
Senior Unsecured Notes | Level 2 | Fair Value | 5.375% Senior Unsecured Notes due 2021
FAIR VALUE MEASUREMENTS:
Debt fair value disclosure	617,016	617,892
Senior Unsecured Notes | Level 2 | Fair Value | 5.125% Senior Unsecured Notes due 2027
FAIR VALUE MEASUREMENTS:
Debt fair value disclosure	387,188	382,028
Term Loan | Level 2 | Carrying Value | Term Loan A
FAIR VALUE MEASUREMENTS:
Debt fair value disclosure	251,448	272,198
Term Loan | Level 2 | Carrying Value | Term Loan B
FAIR VALUE MEASUREMENTS:
Debt fair value disclosure	1,363,150	1,365,625
Term Loan | Level 2 | Fair Value | Term Loan A
FAIR VALUE MEASUREMENTS:
Debt fair value disclosure	251,656	271,517
Term Loan | Level 2 | Fair Value | Term Loan B
FAIR VALUE MEASUREMENTS:
Debt fair value disclosure	$ 1,363,150	$ 1,364,841

CONDENSED CONSOLIDATING FINAN44

CONDENSED CONSOLIDATING FINANCIAL STATEMENTS (Narrative) (Details) $ in Millions	Jun. 30, 2017USD ($)
Debt Instrument [Line Items]
Debt	$ 4,068.1
Sinclair Television Group, Inc.
Debt Instrument [Line Items]
Amount of debt guaranteed by parent	$ 4,040.9
Sinclair Television Group, Inc. | 5.375% Senior Unsecured Notes due 2021
Debt Instrument [Line Items]
Interest rate	5.375%
Sinclair Television Group, Inc. | 5.625% Senior Unsecured Notes, due 2024
Debt Instrument [Line Items]
Interest rate	5.625%
Sinclair Television Group, Inc. | 6.125% Senior Unsecured Notes due 2022
Debt Instrument [Line Items]
Interest rate	6.125%
Sinclair Television Group, Inc. | 5.875% Senior Unsecured Notes due 2026
Debt Instrument [Line Items]
Interest rate	5.875%
Sinclair Television Group, Inc. | 5.125% Senior Unsecured Notes due 2027
Debt Instrument [Line Items]
Interest rate	5.125%
Sinclair Television Group, Inc. | 6.375% Senior Notes due 2021
Debt Instrument [Line Items]
Interest rate	6.375%
Sinclair Broadcast Group, Inc.
Debt Instrument [Line Items]
Amount of debt guaranteed by parent	$ 3,993.9
Sinclair Broadcast Group, Inc. | 5.375% Senior Unsecured Notes due 2021
Debt Instrument [Line Items]
Interest rate	5.375%
Sinclair Broadcast Group, Inc. | 5.625% Senior Unsecured Notes, due 2024
Debt Instrument [Line Items]
Interest rate	5.625%
Sinclair Broadcast Group, Inc. | 6.125% Senior Unsecured Notes due 2022
Debt Instrument [Line Items]
Interest rate	6.125%
Sinclair Broadcast Group, Inc. | 5.875% Senior Unsecured Notes due 2026
Debt Instrument [Line Items]
Interest rate	5.875%
Sinclair Broadcast Group, Inc. | 5.125% Senior Unsecured Notes due 2027
Debt Instrument [Line Items]
Interest rate	5.125%

CONDENSED CONSOLIDATING FINAN45

CONDENSED CONSOLIDATING FINANCIAL STATEMENTS - Balance Sheet (Details) - USD ($) $ in Thousands		Jun. 30, 2017	Dec. 31, 2016	Jun. 30, 2016	Dec. 31, 2015
CONDENSED CONSOLIDATING BALANCE SHEET
Cash		$ 796,047	$ 259,984	$ 103,727	$ 149,972
Accounts receivable		537,286	513,954
Other current assets		89,109	131,150
Total current assets		1,422,442	905,088
Property and equipment, net		705,483	717,576
Investment in consolidated subsidiaries		0	0
Goodwill		2,002,809	1,990,746
Indefinite-lived intangible assets		160,357	156,306
Definite-lived intangible assets		1,725,508	1,944,403
Other long-term assets		272,937	249,049
Total assets	[1]	6,289,536	5,963,168
Accounts payable and accrued liabilities		290,758	322,505
Current portion of long-term debt		168,279	171,131
Current portion of affiliate long-term debt		2,424	3,604
Other current liabilities		76,027	139,233
Total current liabilities		537,488	636,473
Long-term debt		3,884,159	4,014,932
Affiliate long-term debt		13,213	14,181
Other liabilities		729,704	739,646
Total liabilities	[1]	5,164,564	5,405,232
Total Sinclair Broadcast Group equity (deficit)		1,158,176	587,983
Noncontrolling interests in consolidated subsidiaries		(33,204)	(30,047)
Total liabilities and equity		6,289,536	5,963,168
Reportable legal entities | Sinclair Broadcast Group, Inc.
CONDENSED CONSOLIDATING BALANCE SHEET
Cash		0	0	0	0
Accounts receivable		0	0
Other current assets		709	5,561
Total current assets		709	5,561
Property and equipment, net		1,374	1,820
Investment in consolidated subsidiaries		1,127,687	551,250
Goodwill		0	0
Indefinite-lived intangible assets		0	0
Definite-lived intangible assets		0	0
Other long-term assets		39,936	46,586
Total assets		1,169,706	605,217
Accounts payable and accrued liabilities		440	100
Current portion of long-term debt		0	0
Current portion of affiliate long-term debt		793	1,857
Other current liabilities		0	0
Total current liabilities		1,233	1,957
Long-term debt		0	0
Affiliate long-term debt		0	0
Other liabilities		10,297	15,277
Total liabilities		11,530	17,234
Total Sinclair Broadcast Group equity (deficit)		1,158,176	587,983
Noncontrolling interests in consolidated subsidiaries		0	0
Total liabilities and equity		1,169,706	605,217
Reportable legal entities | Sinclair Television Group, Inc.
CONDENSED CONSOLIDATING BALANCE SHEET
Cash		755,841	232,297	72,237	115,771
Accounts receivable		0	0
Other current assets		2,777	3,143
Total current assets		758,618	235,440
Property and equipment, net		21,938	17,925
Investment in consolidated subsidiaries		3,607,749	3,614,605
Goodwill		0	0
Indefinite-lived intangible assets		0	0
Definite-lived intangible assets		0	0
Other long-term assets		810,866	819,506
Total assets		5,199,171	4,687,476
Accounts payable and accrued liabilities		65,336	69,118
Current portion of long-term debt		160,539	55,501
Current portion of affiliate long-term debt		0	0
Other current liabilities		0	0
Total current liabilities		225,875	124,619
Long-term debt		3,812,286	3,939,463
Affiliate long-term debt		0	0
Other liabilities		35,730	31,817
Total liabilities		4,073,891	4,095,899
Total Sinclair Broadcast Group equity (deficit)		1,125,280	591,577
Noncontrolling interests in consolidated subsidiaries		0	0
Total liabilities and equity		5,199,171	4,687,476
Reportable legal entities | Guarantor Subsidiaries and KDSM, LLC
CONDENSED CONSOLIDATING BALANCE SHEET
Cash		16,256	10,675	6,799	235
Accounts receivable		505,902	478,190
Other current assets		90,821	124,313
Total current assets		612,979	613,178
Property and equipment, net		561,662	570,289
Investment in consolidated subsidiaries		4,179	4,179
Goodwill		1,998,942	1,986,467
Indefinite-lived intangible assets		144,648	140,597
Definite-lived intangible assets		1,703,697	1,770,512
Other long-term assets		119,298	103,808
Total assets		5,145,405	5,189,030
Accounts payable and accrued liabilities		213,618	225,645
Current portion of long-term debt		1,829	1,851
Current portion of affiliate long-term debt		1,323	1,514
Other current liabilities		66,346	127,967
Total current liabilities		283,116	356,977
Long-term debt		29,162	31,014
Affiliate long-term debt		12,022	12,663
Other liabilities		1,212,811	1,190,717
Total liabilities		1,537,111	1,591,371
Total Sinclair Broadcast Group equity (deficit)		3,608,294	3,597,659
Noncontrolling interests in consolidated subsidiaries		0	0
Total liabilities and equity		5,145,405	5,189,030
Reportable legal entities | Non- Guarantor Subsidiaries
CONDENSED CONSOLIDATING BALANCE SHEET
Cash		23,950	17,012	24,691	33,966
Accounts receivable		32,642	37,024
Other current assets		22,392	25,406
Total current assets		78,984	79,442
Property and equipment, net		132,573	131,326
Investment in consolidated subsidiaries		0	0
Goodwill		3,867	4,279
Indefinite-lived intangible assets		15,709	15,709
Definite-lived intangible assets		83,341	233,368
Other long-term assets		160,988	169,817
Total assets		475,462	633,941
Accounts payable and accrued liabilities		40,129	48,815
Current portion of long-term debt		5,911	113,779
Current portion of affiliate long-term debt		737	2,336
Other current liabilities		9,681	13,590
Total current liabilities		56,458	178,520
Long-term debt		42,711	44,455
Affiliate long-term debt		338,965	396,957
Other liabilities		185,885	183,418
Total liabilities		624,019	803,350
Total Sinclair Broadcast Group equity (deficit)		(110,969)	(134,991)
Noncontrolling interests in consolidated subsidiaries		(37,588)	(34,418)
Total liabilities and equity		475,462	633,941
Eliminations
CONDENSED CONSOLIDATING BALANCE SHEET
Cash		0	0	$ 0	$ 0
Accounts receivable		(1,258)	(1,260)
Other current assets		(27,590)	(27,273)
Total current assets		(28,848)	(28,533)
Property and equipment, net		(12,064)	(3,784)
Investment in consolidated subsidiaries		(4,739,615)	(4,170,034)
Goodwill		0	0
Indefinite-lived intangible assets		0	0
Definite-lived intangible assets		(61,530)	(59,477)
Other long-term assets		(858,151)	(890,668)
Total assets		(5,700,208)	(5,152,496)
Accounts payable and accrued liabilities		(28,765)	(21,173)
Current portion of long-term debt		0	0
Current portion of affiliate long-term debt		(429)	(2,103)
Other current liabilities		0	(2,324)
Total current liabilities		(29,194)	(25,600)
Long-term debt		0	0
Affiliate long-term debt		(337,774)	(395,439)
Other liabilities		(715,019)	(681,583)
Total liabilities		(1,081,987)	(1,102,622)
Total Sinclair Broadcast Group equity (deficit)		(4,622,605)	(4,054,245)
Noncontrolling interests in consolidated subsidiaries		4,384	4,371
Total liabilities and equity		$ (5,700,208)	$ (5,152,496)
[1]	Our consolidated total assets as of June 30, 2017 and December 31, 2016 include total assets of variable interest entities (VIEs) of $134.7 million and $142.3 million, respectively, which can only be used to settle the obligations of the VIEs. Our consolidated total liabilities as of June 30, 2017 and December 31, 2016 include total liabilities of the VIEs of $29.4 million and $40.9 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 FINAN46

CONDENSED CONSOLIDATING FINANCIAL STATEMENTS - Statement of Operations and Comprehensive Income (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME
Net revenue	$ 679,290	$ 666,534	$ 1,329,225	$ 1,245,423
Media program and production expenses	268,992	243,620	527,147	459,497
Selling, general and administrative	152,097	142,767	297,394	279,117
Depreciation, amortization and other operating expenses	139,352	151,073	228,206	291,396
Total operating expenses	560,441	537,460	1,052,747	1,030,010
Operating income	118,849	129,074	276,478	215,413
Equity in earnings of consolidated subsidiaries	0	0	0	0
Interest expense	(50,959)	(53,916)	(108,277)	(103,331)
Loss from extinguishment of debt	0	0	(1,404)	0
Other income (expense)	3,025	2,047	3,400	2,932
Total other expense, net	(47,934)	(51,869)	(106,281)	(100,399)
Income tax benefit (provision)	(24,880)	(26,605)	(53,459)	(38,785)
NET INCOME	46,035	50,600	116,738	76,229
Net income attributable to the noncontrolling interests	(1,390)	(1,181)	(14,891)	(2,670)
NET INCOME ATTRIBUTABLE TO SINCLAIR BROADCAST GROUP	44,645	49,419	101,847	73,559
Comprehensive income	46,035	50,600	116,738	76,229
Reportable legal entities | Sinclair Broadcast Group, Inc.
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME
Net revenue	0	0	0	0
Media program and production expenses	0	0	0	0
Selling, general and administrative	2,292	1,001	3,588	2,003
Depreciation, amortization and other operating expenses	225	266	491	532
Total operating expenses	2,517	1,267	4,079	2,535
Operating income	(2,517)	(1,267)	(4,079)	(2,535)
Equity in earnings of consolidated subsidiaries	45,927	49,136	104,116	73,424
Interest expense	(34)	(41)	(71)	(136)
Loss from extinguishment of debt			0
Other income (expense)	723	1,087	824	2,230
Total other expense, net	46,616	50,182	104,869	75,518
Income tax benefit (provision)	546	504	1,057	576
NET INCOME	44,645	49,419	101,847	73,559
Net income attributable to the noncontrolling interests	0	0	0	0
NET INCOME ATTRIBUTABLE TO SINCLAIR BROADCAST GROUP	44,645	49,419	101,847	73,559
Comprehensive income	44,645	49,419	101,847	73,559
Reportable legal entities | Sinclair Television Group, Inc.
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME
Net revenue	0	0	0	0
Media program and production expenses	0	0	0	0
Selling, general and administrative	22,412	14,121	41,370	36,219
Depreciation, amortization and other operating expenses	1,651	1,219	3,376	2,410
Total operating expenses	24,063	15,340	44,746	38,629
Operating income	(24,063)	(15,340)	(44,746)	(38,629)
Equity in earnings of consolidated subsidiaries	96,600	100,678	184,405	175,533
Interest expense	(49,379)	(50,908)	(104,083)	(97,271)
Loss from extinguishment of debt			(1,404)
Other income (expense)	1,128	148	1,928	267
Total other expense, net	48,349	49,918	80,846	78,529
Income tax benefit (provision)	24,636	18,034	49,741	41,137
NET INCOME	48,922	52,612	85,841	81,037
Net income attributable to the noncontrolling interests	0	0	0	0
NET INCOME ATTRIBUTABLE TO SINCLAIR BROADCAST GROUP	48,922	52,612	85,841	81,037
Comprehensive income	48,922	52,612	85,841	81,037
Reportable legal entities | Guarantor Subsidiaries and KDSM, LLC
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME
Net revenue	647,266	627,517	1,262,975	1,172,629
Media program and production expenses	257,482	235,138	505,686	444,864
Selling, general and administrative	124,450	125,331	246,884	236,442
Depreciation, amortization and other operating expenses	112,238	116,970	223,467	225,445
Total operating expenses	494,170	477,439	976,037	906,751
Operating income	153,096	150,078	286,938	265,878
Equity in earnings of consolidated subsidiaries	93	69	143	119
Interest expense	(1,425)	(1,098)	(2,545)	(2,299)
Loss from extinguishment of debt			0
Other income (expense)	(1,895)	622	(1,399)	609
Total other expense, net	(3,227)	(407)	(3,801)	(1,571)
Income tax benefit (provision)	(51,842)	(47,722)	(96,071)	(85,902)
NET INCOME	98,027	101,949	187,066	178,405
Net income attributable to the noncontrolling interests	0	0	0	0
NET INCOME ATTRIBUTABLE TO SINCLAIR BROADCAST GROUP	98,027	101,949	187,066	178,405
Comprehensive income	98,027	101,949	187,066	178,405
Reportable legal entities | Non- Guarantor Subsidiaries
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME
Net revenue	53,034	62,037	106,420	114,287
Media program and production expenses	30,476	30,440	58,920	54,821
Selling, general and administrative	2,919	2,326	5,552	4,487
Depreciation, amortization and other operating expenses	26,012	33,134	2,091	63,990
Total operating expenses	59,407	65,900	66,563	123,298
Operating income	(6,373)	(3,863)	39,857	(9,011)
Equity in earnings of consolidated subsidiaries	0	0	0	0
Interest expense	(4,149)	(8,107)	(11,772)	(16,003)
Loss from extinguishment of debt			0
Other income (expense)	3,069	190	2,047	(174)
Total other expense, net	(1,080)	(7,917)	(9,725)	(16,177)
Income tax benefit (provision)	1,780	2,579	(8,186)	5,404
NET INCOME	(5,673)	(9,201)	21,946	(19,784)
Net income attributable to the noncontrolling interests	(1,386)	(1,262)	(14,879)	(2,161)
NET INCOME ATTRIBUTABLE TO SINCLAIR BROADCAST GROUP	(7,059)	(10,463)	7,067	(21,945)
Comprehensive income	(5,673)	(9,201)	21,946	(19,784)
Eliminations
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME
Net revenue	(21,010)	(23,020)	(40,170)	(41,493)
Media program and production expenses	(18,966)	(21,958)	(37,459)	(40,188)
Selling, general and administrative	24	(12)	0	(34)
Depreciation, amortization and other operating expenses	(774)	(516)	(1,219)	(981)
Total operating expenses	(19,716)	(22,486)	(38,678)	(41,203)
Operating income	(1,294)	(534)	(1,492)	(290)
Equity in earnings of consolidated subsidiaries	(142,620)	(149,883)	(288,664)	(249,076)
Interest expense	4,028	6,238	10,194	12,378
Loss from extinguishment of debt			0
Other income (expense)	0	0	0	0
Total other expense, net	(138,592)	(143,645)	(278,470)	(236,698)
Income tax benefit (provision)	0	0	0	0
NET INCOME	(139,886)	(144,179)	(279,962)	(236,988)
Net income attributable to the noncontrolling interests	(4)	81	(12)	(509)
NET INCOME ATTRIBUTABLE TO SINCLAIR BROADCAST GROUP	(139,890)	(144,098)	(279,974)	(237,497)
Comprehensive income	$ (139,886)	$ (144,179)	$ (279,962)	$ (236,988)

CONDENSED CONSOLIDATING FINAN47

CONDENSED CONSOLIDATING FINANCIAL STATEMENTS - Statement of Cash Flows (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME
NET CASH FLOWS FROM (USED IN) OPERATING ACTIVITIES	$ 141,482	$ 209,658
CASH FLOWS FROM (USED IN) INVESTING ACTIVITIES:
Acquisition of property and equipment	(33,507)	(49,786)
Acquisition of businesses, net of cash acquired	(28,329)	(423,104)
Purchase of alarm monitoring contracts	(5,682)	(21,616)
Proceeds from sale of non-media business	192,639	0
Investments in equity and cost method investees	(20,690)	(21,843)
Loans to affiliates	0	(19,500)
Other, net	3,064	(7,399)
Net cash flows from (used in) investing activities	101,367	(528,450)
CASH FLOWS FROM (USED IN) FINANCING ACTIVITIES:
Proceeds from notes payable and commercial bank financing	163,089	607,555
Repayments of notes payable, commercial bank financing and capital leases	(301,168)	(279,575)
Proceeds from the sale of Class A Common Stock	487,883	0
Dividends paid on Class A and Class B Common Stock	(34,744)	(32,781)
Repurchase of outstanding Class A Common Stock	0	11,247
Distributions to noncontrolling interests	(18,048)	(4,170)
Increase (decrease) in intercompany payables	0	0
Other, net	(3,798)	(7,235)
Net cash flows from financing activities	293,214	272,547
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	536,063	(46,245)
CASH AND CASH EQUIVALENTS, beginning of period	259,984	149,972
CASH AND CASH EQUIVALENTS, end of period	796,047	103,727
Reportable legal entities | Sinclair Broadcast Group, Inc.
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME
NET CASH FLOWS FROM (USED IN) OPERATING ACTIVITIES	2,030	2,296
CASH FLOWS FROM (USED IN) INVESTING ACTIVITIES:
Acquisition of property and equipment	(117)	0
Acquisition of businesses, net of cash acquired	0	0
Purchase of alarm monitoring contracts	0	0
Proceeds from sale of non-media business	0
Investments in equity and cost method investees	(945)	0
Loans to affiliates		0
Other, net	(2,266)	(1,197)
Net cash flows from (used in) investing activities	1,204	1,197
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
Proceeds from the sale of Class A Common Stock	487,883
Dividends paid on Class A and Class B Common Stock	(34,744)	(32,781)
Repurchase of outstanding Class A Common Stock		11,247
Distributions to noncontrolling interests	0	0
Increase (decrease) in intercompany payables	(453,712)	42,586
Other, net	(2,661)	(2,051)
Net cash flows from financing activities	(3,234)	(3,493)
NET INCREASE (DECREASE) 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	(91,863)	(81,821)
CASH FLOWS FROM (USED IN) INVESTING ACTIVITIES:
Acquisition of property and equipment	(3,913)	(1,871)
Acquisition of businesses, net of cash acquired	(8,308)	0
Purchase of alarm monitoring contracts	0	0
Proceeds from sale of non-media business	0
Investments in equity and cost method investees	(481)	(10,827)
Loans to affiliates		(19,500)
Other, net	8,189	(3,725)
Net cash flows from (used in) investing activities	(20,891)	(28,473)
CASH FLOWS FROM (USED IN) FINANCING ACTIVITIES:
Proceeds from notes payable and commercial bank financing	159,669	595,000
Repayments of notes payable, commercial bank financing and capital leases	(186,319)	(272,672)
Proceeds from the sale of Class A Common Stock	0
Dividends paid on Class A and Class B Common Stock	0	0
Repurchase of outstanding Class A Common Stock		0
Distributions to noncontrolling interests	0	0
Increase (decrease) in intercompany payables	662,973	(249,887)
Other, net	(25)	(5,681)
Net cash flows from financing activities	636,298	66,760
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	523,544	(43,534)
CASH AND CASH EQUIVALENTS, beginning of period	232,297	115,771
CASH AND CASH EQUIVALENTS, end of period	755,841	72,237
Reportable legal entities | Guarantor Subsidiaries and KDSM, LLC
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME
NET CASH FLOWS FROM (USED IN) OPERATING ACTIVITIES	232,678	282,530
CASH FLOWS FROM (USED IN) INVESTING ACTIVITIES:
Acquisition of property and equipment	(27,596)	(45,155)
Acquisition of businesses, net of cash acquired	(20,021)	(412,729)
Purchase of alarm monitoring contracts	0	0
Proceeds from sale of non-media business	0
Investments in equity and cost method investees	(15,046)	0
Loans to affiliates		0
Other, net	(830)	(58)
Net cash flows from (used in) investing activities	(61,833)	(457,826)
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	(731)	(719)
Proceeds from the sale of Class A Common Stock	0
Dividends paid on Class A and Class B Common Stock	0	0
Repurchase of outstanding Class A Common Stock		0
Distributions to noncontrolling interests	0	0
Increase (decrease) in intercompany payables	(165,240)	181,829
Other, net	707	750
Net cash flows from financing activities	(165,264)	181,860
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	5,581	6,564
CASH AND CASH EQUIVALENTS, beginning of period	10,675	235
CASH AND CASH EQUIVALENTS, end of period	16,256	6,799
Reportable legal entities | Non- Guarantor Subsidiaries
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME
NET CASH FLOWS FROM (USED IN) OPERATING ACTIVITIES	(4,671)	(8,483)
CASH FLOWS FROM (USED IN) INVESTING ACTIVITIES:
Acquisition of property and equipment	(1,881)	(3,206)
Acquisition of businesses, net of cash acquired	0	(10,375)
Purchase of alarm monitoring contracts	(5,682)	(21,616)
Proceeds from sale of non-media business	192,639
Investments in equity and cost method investees	(4,218)	(11,016)
Loans to affiliates		0
Other, net	(2,029)	(2,419)
Net cash flows from (used in) investing activities	182,887	(43,794)
CASH FLOWS FROM (USED IN) FINANCING ACTIVITIES:
Proceeds from notes payable and commercial bank financing	3,420	12,555
Repayments of notes payable, commercial bank financing and capital leases	(114,118)	(6,184)
Proceeds from the sale of Class A Common Stock	0
Dividends paid on Class A and Class B Common Stock	0	0
Repurchase of outstanding Class A Common Stock		0
Distributions to noncontrolling interests	(18,048)	(4,170)
Increase (decrease) in intercompany payables	(40,563)	41,172
Other, net	(1,969)	(371)
Net cash flows from financing activities	(171,278)	43,002
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	6,938	(9,275)
CASH AND CASH EQUIVALENTS, beginning of period	17,012	33,966
CASH AND CASH EQUIVALENTS, end of period	23,950	24,691
Eliminations
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME
NET CASH FLOWS FROM (USED IN) OPERATING ACTIVITIES	3,308	15,136
CASH FLOWS FROM (USED IN) INVESTING ACTIVITIES:
Acquisition of property and equipment	0	446
Acquisition of businesses, net of cash acquired	0	0
Purchase of alarm monitoring contracts	0	0
Proceeds from sale of non-media business	0
Investments in equity and cost method investees	0	0
Loans to affiliates		0
Other, net	0	0
Net cash flows from (used in) investing activities	0	446
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
Proceeds from the sale of Class A Common Stock	0
Dividends paid on Class A and Class B Common Stock	0	0
Repurchase of outstanding Class A Common Stock		0
Distributions to noncontrolling interests	0	0
Increase (decrease) in intercompany payables	(3,458)	(15,700)
Other, net	150	118
Net cash flows from financing activities	(3,308)	(15,582)
NET INCREASE (DECREASE) 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