Sinclair Broadcast (SBGI) 10-Q 8 Aug 19 2019 Q2 Quarterly report Financial data

Cover Page

Cover Page - shares	6 Months Ended
	Jun. 30, 2019	Aug. 05, 2019
Entity Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2019
Document Transition Report	false
Entity File Number	000-26076
Entity Registrant Name	SINCLAIR BROADCAST GROUP, INC.
Entity Incorporation, State or Country Code	MD
Entity Tax Identification Number	52-1494660
Entity Address, Address Line One	10706 Beaver Dam Road
Entity Address, City or Town	Hunt Valley
Entity Address, State or Province	MD
Entity Address, Postal Zip Code	21030
City Area Code	410
Local Phone Number	568-1500
Title of 12(b) Security	Class A Common Stock, par value $ 0.01 per share
Trading Symbol	SBGI
Security Exchange Name	NASDAQ
Entity Interactive Data Current	Yes
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Amendment Flag	false
Entity Central Index Key	0000912752
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q2
Class A Common Stock
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		67,063,137
Class B Common Stock
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		25,027,682

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands		Jun. 30, 2019	Dec. 31, 2018
Current assets:
Cash and cash equivalents		$ 929,038	$ 1,060,330
Accounts receivable, net of allowance for doubtful accounts of $2,060 and $2,379, respectively		589,952	598,597
Current portion of program contract costs		21,854	64,247
Income taxes receivable		8,212	0
Prepaid expenses and other current assets		86,574	60,732
Total current assets		1,635,630	1,783,906
Program contract costs, less current portion		7,524	11,217
Property and equipment, net		699,505	683,134
Operating lease assets		192,390
Goodwill		2,123,902	2,123,902
Indefinite-lived intangible assets		158,364	158,222
Definite-lived intangible assets, net		1,540,483	1,626,880
Other assets		195,868	184,831
Total assets	[1]	6,553,666	6,572,092
Current liabilities:
Accounts payable and accrued liabilities		424,580	413,227
Income taxes payable		0	23,314
Current portion of notes payable, finance leases and commercial bank financing		25,207	42,564
Current portion of operating lease liabilities		22,662
Current portion of program contracts payable		53,775	93,480
Total current liabilities		526,224	572,585
Notes payable, finance leases and commercial bank financing, less current portion		3,762,794	3,849,891
Operating lease liabilities, less current portion		194,259
Program contracts payable, less current portion		40,894	50,060
Deferred tax liabilities		415,579	413,253
Other long-term liabilities		84,917	85,983
Total liabilities	[1]	5,024,667	4,971,772
Commitments and contingencies (See Note 5)
Shareholders' Equity:
Additional paid-in capital		1,024,155	1,121,054
Retained earnings		544,824	517,620
Accumulated other comprehensive loss		(784)	(784)
Total Sinclair Broadcast Group shareholders’ equity		1,569,115	1,638,836
Noncontrolling interests		(40,116)	(38,516)
Total equity		1,528,999	1,600,320
Total liabilities and equity		6,553,666	6,572,092
Assets of variable interest entities		121,400	127,600
Liabilities of variable interest entities		15,200	22,300
Class A Common Stock
Shareholders' Equity:
Common Stock		670	689
Class B Common Stock
Shareholders' Equity:
Common Stock		$ 250	$ 257
[1]	Our consolidated total assets as of June 30, 2019 and December 31, 2018 include total assets of variable interest entities (VIEs) of $121.4 million and $127.6 million , respectively, which can only be used to settle the obligations of the VIEs. Our consolidated total liabilities as of June 30, 2019 and December 31, 2018 include total liabilities of VIEs of $15.2 million and $22.3 million , respectively, for which the creditors of the VIEs have no recourse to us. See Note 8. Variable Interest Entities .

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Accounts receivable, allowance for doubtful accounts	$ 2,060	$ 2,379
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)	67,032,088	68,897,723
Common Stock, shares outstanding (shares)	67,032,088	68,897,723
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)	25,027,682	25,670,684
Common Stock, shares outstanding (shares)	25,027,682	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, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
REVENUES:
Revenues	$ 770,719	$ 730,143	$ 1,492,822	$ 1,395,496
OPERATING EXPENSES:
Media production expenses	335,162	300,858	654,206	589,407
Media selling, general and administrative expenses	164,755	150,794	324,678	297,693
Amortization of program contract costs and net realizable value adjustments	22,084	24,710	46,021	51,660
Non-media expenses	39,210	31,021	78,510	52,244
Depreciation of property and equipment	22,305	23,117	45,325	50,442
Corporate general and administrative expenses	51,655	29,685	79,381	54,281
Amortization of definite-lived intangible and other assets	43,537	43,117	87,001	86,722
Gain on asset dispositions and other, net of impairment	(13,988)	(4,741)	(21,897)	(25,850)
Total operating expenses	664,720	598,561	1,293,225	1,156,599
Operating income	105,999	131,582	199,597	238,897
OTHER INCOME (EXPENSE):
Interest expense and amortization of debt discount and deferred financing costs	(53,678)	(92,271)	(108,304)	(162,013)
Loss from equity method investments	(11,844)	(17,690)	(25,481)	(30,277)
Other income, net	5,533	4,391	7,728	7,772
Total other expense, net	(59,989)	(105,570)	(126,057)	(184,518)
Income before income taxes	46,010	26,012	73,540	54,379
INCOME TAX (PROVISION) BENEFIT	(2,627)	3,297	(7,386)	18,925
NET INCOME	43,383	29,309	66,154	73,304
Net income attributable to the noncontrolling interests	(1,086)	(1,268)	(2,185)	(2,139)
NET INCOME ATTRIBUTABLE TO SINCLAIR BROADCAST GROUP	$ 42,297	$ 28,041	$ 63,969	$ 71,165
EARNINGS PER COMMON SHARE ATTRIBUTABLE TO SINCLAIR BROADCAST GROUP:
Basic earnings per share (USD per share)	$ 0.46	$ 0.27	$ 0.70	$ 0.70
Diluted earnings per share (USD per share)	$ 0.45	$ 0.27	$ 0.69	$ 0.69
Weighted average common shares outstanding (shares)	91,764	102,224	92,032	102,062
Weighted average common and common equivalent shares outstanding (shares)	93,163	102,986	93,189	102,952
Media revenues
REVENUES:
Revenues	$ 720,898	$ 695,862	$ 1,394,262	$ 1,339,513
Non-media revenues
REVENUES:
Revenues	$ 49,821	$ 34,281	$ 98,560	$ 55,983

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Statement of Comprehensive Income [Abstract]
Net income	$ 43,383	$ 29,309	$ 66,154	$ 73,304
Comprehensive income	43,383	29,309	66,154	73,304
Comprehensive income attributable to the noncontrolling interests	(1,086)	(1,268)	(2,185)	(2,139)
Comprehensive income attributable to Sinclair Broadcast Group	$ 42,297	$ 28,041	$ 63,969	$ 71,165

CONSOLIDATED STATEMENTS OF EQUI

CONSOLIDATED STATEMENTS OF EQUITY - USD ($) $ in Thousands	Total	Additional Paid-In Capital	Retained Earnings	Accumulated Other Comprehensive Loss	Noncontrolling Interests	Class A Common Stock	Class A Common StockCommon Stock	Class B Common Stock	Class B Common StockCommon Stock
BALANCE (shares) at Dec. 31, 2017							76,071,145		25,670,684
BALANCE at Dec. 31, 2017	$ 1,534,366	$ 1,320,298	$ 248,845	$ (1,423)	$ (34,372)		$ 761		$ 257
Cumulative effect of adoption of new accounting standard at Dec. 31, 2017	2,100		2,100
Increase (Decrease) in Stockholders' Equity
Dividends declared and paid on Class A and Class B Common Stock	(36,794)		(36,794)
Class A Common Stock issued pursuant to employee benefit plans (shares)							505,835
Class A Common Stock issued pursuant to employee benefit plans	15,958	15,953					$ 5
Distributions to noncontrolling interests, net	(3,516)				(3,516)
Net income	73,304		71,165		2,139
BALANCE (shares) at Jun. 30, 2018							76,576,980		25,670,684
BALANCE at Jun. 30, 2018	1,585,418	1,336,251	285,316	(1,423)	(35,749)		$ 766		$ 257
BALANCE (shares) at Mar. 31, 2018							76,509,574		25,670,684
BALANCE at Mar. 31, 2018	1,571,543	1,332,432	275,676	(1,423)	(36,164)		$ 765		$ 257
Increase (Decrease) in Stockholders' Equity
Dividends declared and paid on Class A and Class B Common Stock	(18,401)		(18,401)
Class A Common Stock issued pursuant to employee benefit plans (shares)							67,406
Class A Common Stock issued pursuant to employee benefit plans	3,820	3,819					$ 1
Distributions to noncontrolling interests, net	(853)				(853)
Net income	29,309		28,041		1,268
BALANCE (shares) at Jun. 30, 2018							76,576,980		25,670,684
BALANCE at Jun. 30, 2018	1,585,418	1,336,251	285,316	(1,423)	(35,749)		$ 766		$ 257
BALANCE (shares) at Dec. 31, 2018						68,897,723	68,897,723	25,670,684	25,670,684
BALANCE at Dec. 31, 2018	1,600,320	1,121,054	517,620	(784)	(38,516)		$ 689		$ 257
Increase (Decrease) in Stockholders' Equity
Dividends declared and paid on Class A and Class B Common Stock	(36,765)		(36,765)
Class B Common Stock converted into Class A Common Stock (in shares)							643,002		(643,002)
Class B Common Stock converted into Class A Common Stock	0						$ 7		$ (7)
Repurchases of Class A Common Stock (in shares)							(3,993,194)
Repurchases of Class A Common Stock	(125,034)	(124,994)					$ (40)
Class A Common Stock issued pursuant to employee benefit plans (shares)							1,484,557
Class A Common Stock issued pursuant to employee benefit plans	28,109	28,095					$ 14
Distributions to noncontrolling interests, net	(3,785)				(3,785)
Net income	66,154		63,969		2,185
BALANCE (shares) at Jun. 30, 2019						67,032,088	67,032,088	25,027,682	25,027,682
BALANCE at Jun. 30, 2019	1,528,999	1,024,155	544,824	(784)	(40,116)		$ 670		$ 250
BALANCE (shares) at Mar. 31, 2019							66,241,852		25,527,682
BALANCE at Mar. 31, 2019	1,519,153	1,038,332	520,936	(784)	(40,248)		$ 662		$ 255
Increase (Decrease) in Stockholders' Equity
Dividends declared and paid on Class A and Class B Common Stock	(18,409)		(18,409)
Class B Common Stock converted into Class A Common Stock (in shares)							500,000		(500,000)
Class B Common Stock converted into Class A Common Stock	0						$ 5		$ (5)
Repurchases of Class A Common Stock (in shares)							(500,000)
Repurchases of Class A Common Stock	(20,049)	(20,044)					$ (5)
Class A Common Stock issued pursuant to employee benefit plans (shares)							790,236
Class A Common Stock issued pursuant to employee benefit plans	5,875	5,867					$ 8
Distributions to noncontrolling interests, net	(954)				(954)
Net income	43,383		42,297		1,086
BALANCE (shares) at Jun. 30, 2019						67,032,088	67,032,088	25,027,682	25,027,682
BALANCE at Jun. 30, 2019	$ 1,528,999	$ 1,024,155	$ 544,824	$ (784)	$ (40,116)		$ 670		$ 250

CONSOLIDATED STATEMENTS OF EQ_2

CONSOLIDATED STATEMENTS OF EQUITY (Parenthetical) - $ / shares	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Class A Common Stock
Dividends declared per share (USD per share)	$ 0.2	$ 0.18	$ 0.4	$ 0.36
Dividends paid per share (USD per share)	0.2	0.18	0.4	0.36
Class B Common Stock
Dividends declared per share (USD per share)	0.2	0.18	0.4	0.36
Dividends paid per share (USD per share)	$ 0.2	$ 0.18	$ 0.4	$ 0.36

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 66,154	$ 73,304
Adjustments to reconcile net income to net cash flows from operating activities:
Depreciation of property and equipment	45,325	50,442
Amortization of definite-lived intangible and other assets	87,001	86,722
Amortization of program contract costs and net realizable value adjustments	46,021	51,660
Stock-based compensation	19,636	13,740
Deferred tax provision (benefit)	2,985	(73,171)
Gain on asset dispositions and other, net of impairment	(21,795)	(25,777)
Loss from equity method investments	25,481	30,052
Change in assets and liabilities, net of acquisitions:
Decrease (increase) in accounts receivable	5,486	(2,971)
Increase in prepaid expenses and other current assets	(25,357)	(27,796)
Increase in accounts payable and accrued liabilities	24,189	85,064
Net change in net income taxes payable/receivable	(31,526)	47,570
Decrease in program contracts payable	(48,807)	(63,916)
Other, net	27,898	10,233
Net cash flows from operating activities	222,691	255,156
CASH FLOWS USED IN INVESTING ACTIVITIES:
Acquisition of property and equipment	(61,595)	(52,268)
Purchases of investments	(43,594)	(18,596)
Distributions from investments	3,026	13,505
Spectrum repack reimbursements	22,119	1,542
Other, net	(1,405)	(56)
Net cash flows used in investing activities	(81,449)	(55,873)
CASH FLOWS USED IN FINANCING ACTIVITIES:
Proceeds from notes payable and commercial bank financing	509	2,016
Repayments of notes payable, commercial bank financing and finance leases	(108,554)	(142,077)
Dividends paid on Class A and Class B Common Stock	(36,765)	(36,794)
Repurchase of outstanding Class A Common Stock	(125,034)	0
Other, net	(2,690)	(2,144)
Net cash flows used in financing activities	(272,534)	(178,999)
NET (DECREASE) INCREASE IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH	(131,292)	20,284
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH, beginning of period	1,060,330	995,940
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH, end of period	$ 929,038	$ 1,016,224

NATURE OF OPERATIONS AND SUMMAR

NATURE OF OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
	Jun. 30, 2019
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, 2019 , 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 191 stations in 89 markets. These stations broadcast 604 channels as of June 30, 2019 . For the purpose of this report, these 191 stations and 604 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. We consolidate VIEs when we are the primary beneficiary. We are the primary beneficiary of a VIE when we have the power to direct the activities of the VIE that most significantly impact the economic performance of the VIE and have the obligation to absorb losses or the right to receive returns that would be significant to the VIE. See Note 8. Variable Interest Entities for more information on our VIEs. Investments in entities over which we have significant influence but not control are accounted for using the equity method of accounting. Income from equity method investments represents our proportionate share of net income generated by equity method investees. Interim Financial Statements The consolidated financial statements for the three and six months ended June 30, 2019 and 2018 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 statements of equity, 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, 2018 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. Equity Investments We measure our investments, excluding equity method investments, at fair value or, in situations where fair value is not readily determinable, we have the option to value investments at cost plus observable changes in value less impairment. Investments accounted for utilizing the measurement alternative were $23.0 million , net of $1.6 million of cumulative impairments, as of June 30, 2019 and $24.5 million as of December 31, 2018 . For the six months ended June 30, 2019 , we recorded a $1.6 million impairment related to one investment accounted for utilizing the measurement alternative, which is reflected in other income, net in our consolidated statements of operations. For the three months ended June 30, 2019 and the three and six months ended June 30, 2018 , there were no adjustments to the carrying amount of investments accounted for utilizing the measurement alternative. 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 February 2016, the Financial Accounting Standards Board (FASB) issued new guidance related to accounting for leases, Accounting Standards Codification Topic 842 (ASC 842). We adopted the new guidance on January 1, 2019 using the modified retrospective approach and the optional transition method. Under this adoption method, comparative prior periods were not adjusted and continue to be reported in accordance with our historical accounting policy. We elected to apply the package of practical expedients permitted under the transition guidance within the new standard, which, among other things, allowed us to carryforward our historical assessments of whether contracts are, or contain, leases and lease classification. The primary impact of adopting this standard was the recognition of $215.2 million of operating lease liabilities and $196.1 million of operating lease assets, upon adoption. The adoption did not have a material impact on how we account for finance leases. See Note 4. Leases for more information regarding our leasing arrangements. In August 2018, the FASB issued guidance which aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software, with the capitalized implementation costs of a hosting arrangement that is a service contract expensed over the term of the hosting arrangement. The new standard is effective for interim and annual reporting periods beginning after December 15, 2019, applied either retrospectively or prospectively to all implementation costs incurred after the date of adoption. Early adoption is permitted. We are currently evaluating the impact of this guidance on our consolidated financial statements. In October 2018, the FASB issued guidance for determining whether a decision-making fee is a variable interest. The amendments require organizations to consider indirect interests held through related parties under common control on a proportional basis rather than as the equivalent of a direct interest in its entirety (as currently required in GAAP). The new standard is effective for interim and annual reporting periods beginning after December 15, 2019, applied retrospectively. Early adoption is permitted. We are currently evaluating the impact of this guidance on our consolidated financial statements. In March 2019, the FASB issued guidance which requires that an entity test a film or license agreement within the scope of Subtopic 920-350 for impairment at the film group level, when the film or license agreement is predominantly monetized with other films and/or license agreements. The new standard is effective for interim and annual reporting periods beginning after December 15, 2019, applied prospectively. Early adoption is permitted. We are currently evaluating the impact of this guidance on our consolidated financial statements. Revenue Recognition The following table presents our revenue disaggregated by type and segment (in thousands): Three Months Ended June 30, 2019 June 30, 2018 Broadcast Other Total Broadcast Other Total Advertising revenue $ 314,520 $ 24,584 $ 339,104 $ 338,204 $ 20,918 $ 359,122 Distribution revenue 334,746 31,911 366,657 291,931 27,527 319,458 Other media and non-media revenues 10,358 54,600 64,958 12,144 39,419 51,563 Total revenues $ 659,624 $ 111,095 $ 770,719 $ 642,279 $ 87,864 $ 730,143 Six Months Ended June 30, 2019 June 30, 2018 Broadcast Other Total Broadcast Other Total Advertising revenue $ 602,370 $ 44,786 $ 647,156 $ 637,116 $ 38,334 $ 675,450 Distribution revenue 654,744 64,078 718,822 579,056 54,762 633,818 Other media and non-media revenues 21,011 105,833 126,844 22,000 64,228 86,228 Total revenues $ 1,278,125 $ 214,697 $ 1,492,822 $ 1,238,172 $ 157,324 $ 1,395,496 Advertising Revenue. We generate advertising revenue primarily from the sale of advertising spots/impressions on our broadcast television and digital platforms. Distribution Revenue. The Company generates distribution revenue through fees received from multi-channel video programming distributors (MVPDs) and virtual MVPDs for the right to distribute our stations and other properties on their respective distribution platforms. In accordance with ASC 606, we do not disclose the value of unsatisfied performance obligations for (i) contracts with an original expected length of one year or less and (ii) distribution arrangements which are accounted for as a sales/usage based royalty. Deferred Revenues. We record deferred revenues when cash payments are received or due in advance of our performance, including amounts which are refundable. Deferred revenues were $67.8 million and $83.3 million as of June 30, 2019 and December 31, 2018 , respectively. Deferred revenues recognized during the six months ended June 30, 2019 and 2018 that were included in the deferred revenues balance as of December 31, 2018 and 2017 were $56.0 million and $21.5 million , respectively. 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, 2019 and 2018 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 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, 2019 was less than the statutory rate primarily due to $8.3 million and $13.0 million , respectively, of federal tax credits related to investments in sustainability initiatives. Our effective income tax rate for the three months ended June 30, 2018 was less than the statutory rate primarily due to $5.2 million of federal tax credits related to investments in sustainability initiatives and a $4.2 million state benefit related to a change in apportionment estimates on recognition of previously deferred tax gain from the sale of certain broadcast spectrum in connection with the Broadcast Incentive Auction. Our effective income tax rate for the six months ended June 30, 2018 was less than the statutory rate primarily due to a $17.7 million permanent tax benefit recognized from an IRS tax ruling on the treatment of the gain from the sale of certain broadcast spectrum in connection with the Broadcast Incentive Auction and $6.3 million Share Repurchase Program On August 9, 2018 , the Board of Directors authorized a $1.0 billion share repurchase authorization, in addition to the previous repurchase authorization of $150.0 million . There is no expiration date and currently, management has no plans to terminate this program. For the three and six months ended June 30, 2019 , we repurchased 0.5 million shares of Class A Common Stock for $20.0 million and 4.0 million shares of Class A Common Stock for $125.0 million , respectively. As of June 30, 2019 , the total remaining purchase authorization was $743.0 million . Subsequent Events In August 2019, our Board of Directors declared a quarterly dividend of $0.20 per share, payable on September 16, 2019 to holders of record at the close of business on August 30, 2019. In July 2019, we announced that we will redeem, in full, $600.0 million of Sinclair Television Group's (STG) 5.375% Senior Unsecured Notes due 2021 on August 13, 2019. See STG 5.375% Senior Unsecured Notes under Note 3. Notes Payable and Commercial Bank Financing for further discussion. On August 2, 2019, in connection with the pending acquisition of the RSNs, Diamond Sports Group, LLC (Diamond) and Diamond Sports Finance Company (Diamond Co-Issuer), both indirect wholly-owned subsidiaries of the Company, issued $3.050 billion principal amount of senior secured notes, which bear interest at a rate of 5.375% per annum and mature on August 15, 2026 (the "Diamond 5.375% Secured Notes") and issued $1.825 billion principal amount of senior notes, which bear interest at a rate of 6.625% per annum and mature on August 15, 2027 (the "Diamond 6.625% Notes" and, together with the Diamond 5.375% Secured Notes, the "Diamond Notes"). See RSN Debt Financing under Note 3. Notes Payable and Commercial Bank Financing for further discussion. Reclassifications Certain reclassifications have been made to prior years' consolidated financial statements to conform to the current year's presentation.

ACQUISITIONS AND DISPOSITIONS O

ACQUISITIONS AND DISPOSITIONS OF ASSETS	6 Months Ended
	Jun. 30, 2019
Business Combinations [Abstract]
ACQUISITIONS AND DISPOSITIONS OF ASSETS	ACQUISITIONS AND DISPOSITIONS OF ASSETS: Pending Acquisitions In May 2019, Diamond entered into a definitive agreement with The Walt Disney Company (Disney) to acquire the equity interests in 14 Regional Sports Networks ( 21 brands) and Fox College Sports (collectively, the RSNs), which were acquired by Disney in its acquisition of Twenty-First Century Fox, Inc., for a purchase price of $9.6 billion , subject to certain adjustments. Completion of the transaction is subject to customary closing conditions, including the approval of the U.S. Department of Justice (DOJ). We expect to capitalize Diamond with (i) $1.4 billion in cash equity, comprised of a combination of approximately $0.7 billion of cash on hand and a contribution of $0.7 billion from a new term loan facility at Sinclair Television Group, Inc (STG), (ii) proceeds from a $1.0 billion fully committed privately-placed preferred equity offering by a newly-formed indirect wholly-owned subsidiary of the Company, (iii) a $3.3 billion Term Loan facility at Diamond, and (iv) proceeds from $4.9 billion in notes issued by Diamond. See RSN Debt Financing within Note 3. Notes Payable and Commercial Bank Financing for more information. The transaction will be treated as an asset acquisition for tax purposes, with the Company receiving a full step-up in basis. Termination of Material Definitive Agreement In August 2018, we received a termination notice from Tribune Media Company (Tribune), terminating the Agreement and Plan of Merger entered into on May 8, 2017, between the Company and Tribune (Merger Agreement), which provided for the acquisition by the Company of the outstanding shares of Tribune Class A common stock and Tribune Class B common stock (Merger). See Litigation under Note 5. Commitments and Contingencies for further discussion on our pending litigation related to the Tribune acquisition. For the three months ended June 30, 2018, we recognized $44.5 million of costs in connection with this acquisition, which included $5.2 million primarily related to legal and other professional services, that we expensed as incurred and classified as corporate general and administrative expenses on our consolidated statements of operations; and $39.3 million related to financing ticking fees, which was recorded as interest expense on our consolidated statements of operations. For the six months ended June 30, 2018, we recognized $66.2 million of costs in connection with this acquisition, which included $9.9 million primarily related to legal and other professional services, that we expensed as incurred and classified as corporate general and administrative expenses on our consolidated statements of operations; and $56.3 million related to financing ticking fees, which was recorded as interest expense on our consolidated statements of operations. Dispositions Broadcast Incentive Auction. 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. For the six months ended June 30, 2018 , we recognized a gain of $83.3 million which is included within gain on asset dispositions and other, net of impairment on our consolidated statements of operations. This gain relates to the auction proceeds associated with one market where the underlying spectrum was vacated during the first quarter of 2018. 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 have received notification from the FCC that 100 of our stations have been assigned to new channels. Legislation has provided the FCC with a $2.75 billion fund to reimburse reasonable costs incurred by stations that are reassigned to new channels in the repack. We expect that the reimbursements from the fund will cover the majority of our expenses related to the repack. We recorded gains related to reimbursements for spectrum repack costs incurred of $14.1 million and $22.1 million for the three and six months ended June 30, 2019 , respectively, and $0.7 million and $1.5 million for the three and six months ended June 30, 2018 , respectively, which are recorded within gain on asset dispositions and other, net of impairment on our consolidated financial statements. For the three and six months ended June 30, 2019 , capital expenditures related to the spectrum repack were $12.0 million and $24.8 million , respectively, and $8.3 million and $11.7 million for the three and six months ended June 30, 2018

NOTES PAYABLE AND COMMERCIAL BA

NOTES PAYABLE AND COMMERCIAL BANK FINANCING	6 Months Ended
	Jun. 30, 2019
Debt Disclosure [Abstract]
NOTES PAYABLE AND COMMERCIAL BANK FINANCING	NOTES PAYABLE AND COMMERCIAL BANK FINANCING: Notes payable and finance leases to affiliates The current portion of notes payable, finance leases, and commercial bank financing on our consolidated balance sheets includes finance leases to affiliates of $2.1 million and $1.9 million as of June 30, 2019 and December 31, 2018 , respectively. Notes payable, finance leases, and commercial bank financing, less current portion, on our consolidated balance sheets includes long-term finance leases to affiliates of $9.6 million and $10.6 million as of June 30, 2019 and December 31, 2018 , respectively. Debt of variable interest entities and guarantees of third-party debt We jointly, severally, unconditionally, and irrevocably guarantee $72.7 million and $76.5 million of debt of certain third parties as of June 30, 2019 and December 31, 2018 , respectively, of which $22.3 million and $24.4 million , net of deferred financing costs, related to consolidated VIEs is included on our consolidated balance sheets as of June 30, 2019 and December 31, 2018 , respectively. These guarantees primarily relate to the debt of Cunningham Broadcasting Corporation (Cunningham) as discussed under Cunningham Broadcasting Corporation within Note 9. Related Person Transactions . We have determined that, as of June 30, 2019 , it is not probable that we would have to perform under any of these guarantees. STG Term Loan A On April 30, 2019, we paid in full the remaining principal balance of $91.5 million of Term Loan A-2 debt under the Bank Credit Agreement, due July 31, 2021. STG 5.375% Senior Unsecured Notes In July 2019, the Company announced that it will redeem, in full, $600.0 million of STG's 5.375% Senior Unsecured Notes due 2021 (the 5.375% Notes) on August 13, 2019. The 5.375% Notes were called at 100.000% of their par value. The redemption will be funded through a combination of seven-year incremental term B loans (Incremental Term B Loans) and cash on hand and is contingent upon the funding of $600.0 million of Incremental Term B Loans to finance such redemption. RSN Debt Financing On August 2, 2019, Diamond and Diamond Co-Issuer issued the Diamond Notes as described under Subsequent Events within Note 1. Nature of Operations and Summary of Significant Accounting Policies . The proceeds of the Diamond Notes are held in escrow and will be used to finance the acquisition of the RSNs as discussed under Pending Acquisitions within Note 2. Acquisitions and Dispositions of Assets . If (1) we do not consummate the acquisition of the RSNs on or prior to February 3, 2020; (2) prior to February 3, 2020, we notify the escrow agent that they will not pursue the consummation of the acquisition of the RSNs; or (3) the applicable conditions to the release of the escrow funds (including the completion of the acquisition of the RSNs) are not satisfied on or prior to February 3, 2020, then, in any such case, we must redeem all of the Diamond Notes at a redemption price equal to 100.0% of the principal amount of the Diamond Notes being redeemed, plus accrued and unpaid interest to, but excluding, the redemption date. Prior to August 15, 2022, we may redeem the Diamond Notes, in whole or in part, at any time or from time to time, at a price equal to 100% of the principal amount of the applicable Diamond Notes plus accrued and unpaid interest, if any, to the date of redemption, plus a ‘‘make-whole’’ premium. Beginning on August 15, 2022, we may redeem the Diamond Notes, in whole or in part, at any time or from time to time at certain redemption prices, plus accrued and unpaid interest, if any, to the date of redemption. In addition, on or prior to August 15, 2022, we may redeem up to 40% of each series of the Diamond Notes using the proceeds of certain equity offerings. If the notes are redeemed during the twelve-month period beginning August 15, 2022, 2023, and 2024 and thereafter, then the redemption prices for the Diamond 5.375% Secured Notes are 102.688% , 101.344% , and 100% , respectively, and the redemption prices for the Diamond 6.625% Notes are 103.313% , 101.656% , and 100% , respectively. Diamond’s and Diamond Co-Issuer's obligations under the Diamond Notes are jointly and severally guaranteed by Diamond Sports Intermediate Holdings LLC (Holdings), Diamond’s and Diamond Co-Issuer’s direct parent, and certain wholly-owned subsidiaries of Holdings. Upon completion of the acquisition of the RSNs, the RSNs wholly-owned by Holdings and its subsidiaries will also jointly and severally guarantee the Issuers' obligations under the Diamond Notes. However, the Diamond Notes are not guaranteed by the Company, STG, or any of STG’s subsidiaries. In conjunction with the acquisition of the RSNs, we expect to (1) borrow $0.7 billion of seven-year term loans, priced at LIBOR plus 2.50% , under STG's bank credit agreement which will be amended and restated, (2) issue $1.0 billion fully committed privately-placed preferred equity of a newly-formed indirect wholly-owned subsidiary of the Company, and (3) borrow $3.3 billion of seven-year term loans, priced at LIBOR plus 3.25% , under a new bank credit agreement to be established by Diamond and Diamond Co-Issuer, as discussed under Pending Acquisitions within Note 2. Acquisitions and Dispositions of Assets at or near the time of closing on the acquisition of the RSNs. Also, concurrent with the financing of the acquisition of the RSNs, we expect to replace STG's existing revolving credit facility with a new $0.65 billion five-year revolving credit facility, priced at LIBOR plus 2.00% , and establish a new $0.65 billion five-year revolving credit facility, priced at LIBOR plus 3.00%

LEASES

LEASES	6 Months Ended
	Jun. 30, 2019
Leases [Abstract]
LEASES	LEASES: As described in Note 1. Nature of Operations and Summary of Significant Accounting Policies , we adopted new lease accounting guidance effective January 1, 2019. We determine if a contractual arrangement is a lease at inception. Our lease arrangements provide the Company the right to utilize certain specified tangible assets for a period of time in exchange for consideration. Our leases primarily relate to building space, tower space, and equipment. We do not separate non-lease components from our building and tower leases for the purposes of measuring our lease liabilities and assets. Our leases consist of operating leases and finance leases which are presented separately within our consolidated balance sheets. Leases with an initial term of 12 months or less are not recorded on the balance sheet. We recognize a lease liability and a right of use asset at the lease commencement date based on the present value of the future lease payments over the lease term discounted using our incremental borrowing rate. Implicit interest rates within our lease arrangements are rarely determinable. Right of use assets also include, if applicable, prepaid lease payments and initial direct costs, less incentives received. We recognize operating lease expense on a straight-line basis over the term of the lease within operating expenses. Expense associated with our finance leases consists of two components, including interest on our outstanding finance lease obligations and amortization of the related right of use assets. The interest component is recorded in interest expense and amortization of the finance lease asset is recognized on a straight-line basis over the term of the lease in depreciation of property and equipment. Our leases do not contain any material residual value guarantees or material restrictive covenants. Some of our leases include optional renewal periods or termination provisions which we assess at inception to determine the term of the lease, subject to reassessment in certain circumstances. The following table presents lease expense we have recorded within our consolidated statements of operations for the three and six months ended June 30, 2019 (in thousands): Three Months Ended June 30, 2019 Six Months Ended June 30, 2019 Finance lease expense: Amortization of finance lease asset $ 775 $ 1,494 Interest on lease liabilities 1,063 1,977 Total finance lease expense 1,838 3,471 Operating lease expense (a) 10,217 20,155 Total lease expense $ 12,055 $ 23,626 (a) Includes variable and short-term lease expense of $1.2 million and $0.2 million , respectively, for the three months ended June 30, 2019 and $2.3 million and $0.5 million , respectively, for the six months ended June 30, 2019 . The following table summarizes our outstanding operating and finance lease obligations as of June 30, 2019 (in thousands): Operating Leases Finance Leases Total 2019 $ 16,975 $ 4,042 $ 21,017 2020 31,711 7,938 39,649 2021 29,688 7,908 37,596 2022 27,174 7,166 34,340 2023 25,786 7,138 32,924 Thereafter 168,856 21,217 190,073 Total undiscounted obligations 300,190 55,409 355,599 Less imputed interest (83,269 ) (15,393 ) (98,662 ) Present value of lease obligations $ 216,921 $ 40,016 $ 256,937 Future minimum payments under operating leases as of December 31, 2018 were as follows (in thousands): 2019 $ 32,108 2020 31,287 2021 29,547 2022 26,702 2023 24,325 2024 and thereafter 157,816 Total $ 301,785 The following table summarizes supplemental balance sheet information related to leases as of June 30, 2019 (in thousands, except lease term and discount rate): Operating Leases Finance Leases Lease assets, non-current $ 192,390 $ 16,130 (a) Lease liabilities, current $ 22,662 $ 4,605 Lease liabilities, non-current 194,259 35,411 Total lease liabilities $ 216,921 $ 40,016 Weighted average remaining lease term (in years) 10.94 7.55 Weighted average discount rate 5.8 % 9.0 % (a) Finance lease assets are reflected in property and equipment, net. The following table presents other information related to leases for the six months ended June 30, 2019 (in thousands): Six Months Ended Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 15,379 Operating cash flows from finance leases 1,965 Financing cash flows from finance leases 2,228 Leased assets obtained in exchange for new lease liabilities 9,969
LEASES	LEASES: As described in Note 1. Nature of Operations and Summary of Significant Accounting Policies , we adopted new lease accounting guidance effective January 1, 2019. We determine if a contractual arrangement is a lease at inception. Our lease arrangements provide the Company the right to utilize certain specified tangible assets for a period of time in exchange for consideration. Our leases primarily relate to building space, tower space, and equipment. We do not separate non-lease components from our building and tower leases for the purposes of measuring our lease liabilities and assets. Our leases consist of operating leases and finance leases which are presented separately within our consolidated balance sheets. Leases with an initial term of 12 months or less are not recorded on the balance sheet. We recognize a lease liability and a right of use asset at the lease commencement date based on the present value of the future lease payments over the lease term discounted using our incremental borrowing rate. Implicit interest rates within our lease arrangements are rarely determinable. Right of use assets also include, if applicable, prepaid lease payments and initial direct costs, less incentives received. We recognize operating lease expense on a straight-line basis over the term of the lease within operating expenses. Expense associated with our finance leases consists of two components, including interest on our outstanding finance lease obligations and amortization of the related right of use assets. The interest component is recorded in interest expense and amortization of the finance lease asset is recognized on a straight-line basis over the term of the lease in depreciation of property and equipment. Our leases do not contain any material residual value guarantees or material restrictive covenants. Some of our leases include optional renewal periods or termination provisions which we assess at inception to determine the term of the lease, subject to reassessment in certain circumstances. The following table presents lease expense we have recorded within our consolidated statements of operations for the three and six months ended June 30, 2019 (in thousands): Three Months Ended June 30, 2019 Six Months Ended June 30, 2019 Finance lease expense: Amortization of finance lease asset $ 775 $ 1,494 Interest on lease liabilities 1,063 1,977 Total finance lease expense 1,838 3,471 Operating lease expense (a) 10,217 20,155 Total lease expense $ 12,055 $ 23,626 (a) Includes variable and short-term lease expense of $1.2 million and $0.2 million , respectively, for the three months ended June 30, 2019 and $2.3 million and $0.5 million , respectively, for the six months ended June 30, 2019 . The following table summarizes our outstanding operating and finance lease obligations as of June 30, 2019 (in thousands): Operating Leases Finance Leases Total 2019 $ 16,975 $ 4,042 $ 21,017 2020 31,711 7,938 39,649 2021 29,688 7,908 37,596 2022 27,174 7,166 34,340 2023 25,786 7,138 32,924 Thereafter 168,856 21,217 190,073 Total undiscounted obligations 300,190 55,409 355,599 Less imputed interest (83,269 ) (15,393 ) (98,662 ) Present value of lease obligations $ 216,921 $ 40,016 $ 256,937 Future minimum payments under operating leases as of December 31, 2018 were as follows (in thousands): 2019 $ 32,108 2020 31,287 2021 29,547 2022 26,702 2023 24,325 2024 and thereafter 157,816 Total $ 301,785 The following table summarizes supplemental balance sheet information related to leases as of June 30, 2019 (in thousands, except lease term and discount rate): Operating Leases Finance Leases Lease assets, non-current $ 192,390 $ 16,130 (a) Lease liabilities, current $ 22,662 $ 4,605 Lease liabilities, non-current 194,259 35,411 Total lease liabilities $ 216,921 $ 40,016 Weighted average remaining lease term (in years) 10.94 7.55 Weighted average discount rate 5.8 % 9.0 % (a) Finance lease assets are reflected in property and equipment, net. The following table presents other information related to leases for the six months ended June 30, 2019 (in thousands): Six Months Ended Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 15,379 Operating cash flows from finance leases 1,965 Financing cash flows from finance leases 2,228 Leased assets obtained in exchange for new lease liabilities 9,969

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	6 Months Ended
	Jun. 30, 2019
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES: Litigation We are a party to lawsuits, claims, and regulatory matters 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. Except as noted below, we do not believe the outcome of these matters, individually or in the aggregate, will have a material effect on the Company's financial statements. On December 21, 2017, the FCC issued a Notice of Apparent Liability for Forfeiture proposing a $13.4 million fine for alleged violations of the FCC's sponsorship identification rules by the Company and certain of its subsidiaries. Based on a review of the current facts and circumstances, management has provided for what is believed to be a reasonable estimate of the loss exposure for this matter. We have responded to dispute the Commission's findings and the proposed fine; however, we cannot predict the outcome of any potential FCC action related to this matter. We do not believe that the ultimate outcome of this matter will have a material effect on the Company's financial statements. On November 6, 2018, the Company agreed to enter into a proposed consent decree with the Department of Justice (DOJ). This consent decree resolves the Department of Justice’s investigation into the sharing of pacing information among certain stations in some local markets. The DOJ filed the consent decree and related documents in the U.S. District Court for the District of Columbia on November 13, 2018. The U.S District Court for the District of Columbia entered the consent decree on May 22, 2019. The consent decree is not an admission of any wrongdoing by the Company and does not subject Sinclair to any monetary damages or penalties. The Company believes that even if the pacing information was shared as alleged, it would not have impacted any pricing of advertisements or the competitive nature of the market. The consent decree requires the Company to adopt certain antitrust compliance measures, including the appointment of an Antitrust Compliance Officer, consistent with what the Department of Justice has required in previous consent decrees in other industries. The consent decree also requires the Company stations not to exchange pacing and certain other information with other stations in their local markets, which the Company’s management has already instructed them not to do. The Company is aware of twenty-two putative class action lawsuits that were filed against the Company following published reports of the DOJ investigation into the exchange of pacing data within the industry. On October 3, 2018, these lawsuits were consolidated in the Northern District of Illinois. The consolidated action alleges that the Company and eight other broadcasters conspired to fix prices for commercials to be aired on broadcast television stations throughout the United States and engaged in unlawful information sharing, in violation of the Sherman Antitrust Act. The consolidated action seeks damages, attorneys’ fees, costs and interest, as well as injunctions against adopting practices or plans that would restrain competition in the ways the plaintiffs have alleged. The Company believes the lawsuits are without merit and intends to vigorously defend itself against all such claims. On July 19, 2018, the FCC released a Hearing Designation Order (HDO) to commence a hearing before an Administrative Law Judge (ALJ) with respect to the Company’s proposed acquisition of Tribune. The HDO directed the FCC's Media Bureau to hold in abeyance all other pending applications and amendments thereto related to the proposed Merger with Tribune until the issues that are the subject of the HDO have been resolved with finality. The HDO asked the ALJ to determine (i) whether Sinclair was the real party in interest to the sale of WGN-TV, KDAF(TV), and KIAH(TV), (ii) if so, whether the Company engaged in misrepresentation and/or lack of candor in its applications with the FCC and (iii) whether consummation of the overall transaction would be in the public interest and compliance with the FCC’s ownership rules. The Company maintains that the overall transaction and the proposed divestitures complied with the FCC’s rules, and strongly rejects any allegation of misrepresentation or lack of candor. The Merger Agreement was terminated by Tribune on August 9, 2018, on which date the Company subsequently filed a letter with the FCC to withdraw the merger applications and have them dismissed with prejudice and filed with the ALJ a Notice of Withdrawal of Applications and Motion to Terminate Hearing (Motion). On August 10, 2018, the FCC's Enforcement Bureau filed a responsive pleading with the ALJ stating that it did not oppose dismissal of the merger applications and concurrent termination of the hearing proceeding. The ALJ granted the Motion and terminated the hearing on March 5, 2019. As part of a discussion initiated by the Company to respond to allegations raised in the HDO, the FCC’s Media Bureau sent the Company a confidential letter of inquiry, which was inadvertently posted to the FCC’s online docket and removed by FCC staff shortly thereafter. The FCC subsequently released a statement that said the Media Bureau is in the process of resolving an outstanding issue regarding Sinclair’s conduct as part of the last year's FCC’s review of its proposed merger with Tribune and that the Bureau believes that delaying consideration of this matter would not be in anyone's interest. We cannot predict the outcome of the FCC's inquiry or whether or how the issues raised in the now-terminated HDO might impact the Company's ability to acquire additional TV stations in the future. On August 9, 2018, Tribune filed a complaint (the "Tribune Complaint") in the Court of Chancery of the State of Delaware against the Company, which action is captioned Tribune Media Company v. Sinclair Broadcast Group, Inc, Case No. 2018-0593-JTL. The Tribune Complaint alleges that the Company breached the Merger Agreement by, among other things, failing to use its reasonable best efforts to secure regulatory approval of the Merger, and that such breach resulted in the failure of the Merger to obtain regulatory approval and close. The Tribune Complaint seeks declaratory relief, money damages in an amount to be determined at trial (but which the Tribune Complaint suggests could be in excess of $1 billion ), and attorney's fees and costs. On August 29, 2018, the Company filed its Answer, Affirmative Defenses, and Verified Counterclaim to the Verified Complaint. In its counterclaim, the Company alleges that Tribune breached the Merger Agreement and seeks declaratory relief, money damages in an amount to be determined at trial, and attorneys' fees and costs. While no finding of liability or damages against the Company has been made, an immaterial reserve during the second quarter of 2019 was recorded and the Company intends to continue its vigorous defense of this matter, while exploring opportunities to resolve it on reasonable terms. There can be no assurance that the amount of the loss ultimately incurred in this matter will not be greater than the amount recorded at this time. On August 9, 2018, Edward Komito, a putative Company shareholder, filed a class action complaint (the "Initial Complaint") in the United States District Court for the District of Maryland (the "District of Maryland") against the Company, Christopher Ripley and Lucy Rutishauser, which action is now captioned In re Sinclair Broadcast Group, Inc. Securities Litigation, case No. 1:18-CV-02445-CCB (the "Securities Action"). On March 1, 2019, lead counsel in the Securities Action filed an amended complaint, adding David Smith and Steven Marks as defendants, and alleging that defendants violated the federal securities laws by issuing false or misleading disclosures concerning (a) the Merger prior to the termination thereof; and (b) the DOJ investigation concerning the alleged exchange of pacing information. The Securities Action seeks declaratory relief, money damages in an amount to be determined at trial, and attorney’s fees and costs. On May 3, 2019, Defendants filed a motion to dismiss the amended complaint, which motion has been opposed by lead plaintiff. The Company believes that the allegations in the Securities Action are without merit and intends to vigorously defend against the allegations. In addition, beginning in late July 2018, Sinclair received letters from two putative Company shareholders requesting that the Board of Directors of the Company investigate whether any of the Company’s officers and directors committed nonexculpated breaches of fiduciary duties in connection with, or gross mismanagement with respect to: (i) seeking regulatory approval of the Tribune Merger and (ii) the HDO, and the allegations contained therein. A committee consisting of independent members of the board of directors has been formed to respond to these demands (the "Special Litigation Committee"). The members of the Special Litigation Committee are Martin R. Leader, Larry E. McCanna, and the Honorable Benson Everett Legg, with Martin Leader as its designated Chair. On November 29, 2018, putative Company shareholder Fire and Police Retiree Health Care Fund, San Antonio filed a shareholder derivative complaint in the District of Maryland against the members of the Company’s Board of Directors, Mr. Ripley, and the Company (as a nominal defendant), which action is captioned Fire and Police Retiree Health Care Fund, San Antonio v. Smith, et al., Case No. 1:18-cv-03670-RDB (the "San Antonio Action"). On December 26, 2018, putative Company shareholder Teamsters Local 677 Health Services & Insurance Plan filed a shareholder derivative complaint in the Circuit Court of Maryland for Baltimore County (the "Circuit Court") against the members of the Company’s Board of Directors, Mr. Ripley, and the Company (as a nominal defendant), which action is captioned Teamsters Local 677 Health Services & Insurance Plan v. Friedman, et al., Case No. 03-C-18-12119 (the "Teamsters Action"). A defendant in the Teamsters Action removed the Teamsters action to the District of Maryland, and the plaintiff in that case has moved to remand the case back to the Circuit Court. That motion is fully briefed and awaiting decision. On December 21, 2018, putative Company shareholder Norfolk County Retirement System filed a shareholder derivative complaint in the District of Maryland against the members of the Company’s Board of Directors, Mr. Ripley, and the Company (as a nominal defendant), which action is captioned Norfolk County Retirement System v. Smith, et al., Case No. 1:18-cv-03952-RDB (the "Norfolk Action," and together with the San Antonio Action and the Teamsters Action, the "Derivative Actions"). The plaintiffs in each of the Derivative Actions allege breaches of fiduciary duties by the defendants in connection with (i) seeking regulatory approval of the Tribune Merger and (ii) the HDO, and the allegations contained therein. The plaintiffs in the Derivative Actions seek declaratory relief, money damages to be awarded to the Company in an amount to be determined at trial, corporate governance reforms, equitable or injunctive relief, and attorney’s fees and costs. Additionally, the plaintiffs in the Teamsters and Norfolk Actions allege that the defendants were unjustly enriched, in the form of their compensation as directors and/or officers of the Company, in light of the alleged breaches of fiduciary duty, and seek restitution to be awarded to the Company. These allegations are the subject matter of the review being conducted by the Special Litigation Committee, as noted above. On April 30, 2019, the Special Litigation Committee moved to dismiss and, in the alternative, to stay the San Antonio and Norfolk Actions. The Company and the remaining individual defendants joined in this motion.

EARNINGS PER SHARE

EARNINGS PER SHARE	6 Months Ended
	Jun. 30, 2019
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 2019 2018 2019 2018 Income (Numerator) Net income $ 43,383 $ 29,309 $ 66,154 $ 73,304 Net income attributable to noncontrolling interests (1,086 ) (1,268 ) (2,185 ) (2,139 ) Numerator for basic and diluted earnings per common share available to common shareholders $ 42,297 $ 28,041 $ 63,969 $ 71,165 Shares (Denominator) Weighted-average common shares outstanding 91,764 102,224 92,032 102,062 Dilutive effect of stock-settled appreciation rights and outstanding stock options 1,399 762 1,157 890 Weighted-average common and common equivalent shares outstanding 93,163 102,986 93,189 102,952 The following table shows the weighted-average stock-settled appreciation rights and outstanding stock options (in thousands) that are excluded from the calculation of diluted earnings per common share as the inclusion of such shares would be anti-dilutive: Three Months Ended Six Months Ended 2019 2018 2019 2018 Weighted-average stock-settled appreciation rights and outstanding stock options excluded — 1,600 475 1,050

SEGMENT DATA

SEGMENT DATA	6 Months Ended
	Jun. 30, 2019
Segment Reporting [Abstract]
SEGMENT DATA	SEGMENT DATA: We measure segment performance based on operating income (loss). Our broadcast segment includes stations in 89 markets located throughout the continental United States. Other primarily consists of original networks and content, non-broadcast 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 $3.4 million and $3.8 million in intercompany interest expense related to intercompany loans between the broadcast segment, other, and corporate for the three months ended June 30, 2019 and 2018 , respectively. We had $7.1 million and $7.6 million in intercompany interest expense related to intercompany loans between the broadcast segment, other, and corporate for the six months ended June 30, 2019 and 2018 , respectively. Segment financial information is included in the following tables for the periods presented (in thousands): As of June 30, 2019 Broadcast Other Corporate Consolidated Assets $ 4,828,998 $ 726,311 $ 998,357 $ 6,553,666 For the three months ended June 30, 2019 Broadcast Other Corporate Consolidated Revenue $ 659,624 $ 111,095 $ — $ 770,719 Depreciation of property and equipment and amortization of definite-lived intangibles and other assets 59,504 6,319 19 65,842 Amortization of program contract costs and net realizable value adjustments 22,084 — — 22,084 Corporate general and administrative expenses 32,569 263 18,823 51,655 (Gain) loss on asset dispositions and other, net of impairment (14,122 ) 134 — (13,988 ) Operating income (loss) 134,918 (10,077 ) (18,842 ) 105,999 Interest expense 1,300 195 52,183 53,678 (Loss) income from equity method investments — (11,929 ) 85 (11,844 ) For the three months ended June 30, 2018 Broadcast Other Corporate Consolidated Revenue $ 642,279 $ 87,864 $ — $ 730,143 Depreciation of property and equipment and amortization of definite-lived intangibles and other assets 58,964 7,251 19 66,234 Amortization of program contract costs and net realizable value adjustments 24,710 — — 24,710 Corporate general and administrative expenses 26,590 221 2,874 29,685 Gain on asset dispositions and other, net of impairment (1,301 ) (3,440 ) — (4,741 ) Operating income (loss) 140,607 (6,132 ) (2,893 ) 131,582 Interest expense 1,438 198 90,635 92,271 Loss from equity method investments — (17,256 ) (434 ) (17,690 ) For the six months ended June 30, 2019 Broadcast Other Corporate Consolidated Revenue $ 1,278,125 $ 214,697 $ — $ 1,492,822 Depreciation of property and equipment and amortization of definite-lived intangibles and other assets 122,185 10,103 38 132,326 Amortization of program contract costs and net realizable value adjustments 46,021 — — 46,021 Corporate general and administrative expenses 58,329 420 20,632 79,381 (Gain) loss on asset dispositions and other, net of impairment (22,142 ) 347 (102 ) (21,897 ) Operating income (loss) 230,145 (9,980 ) (20,568 ) 199,597 Interest expense 2,783 387 105,134 108,304 (Loss) income from equity method investments — (25,881 ) 400 (25,481 ) For the six months ended June 30, 2018 Broadcast Other Corporate Consolidated Revenue $ 1,238,172 $ 157,324 $ — $ 1,395,496 Depreciation of property and equipment and amortization of definite-lived intangibles and other assets 122,833 14,293 38 137,164 Amortization of program contract costs and net realizable value adjustments 51,660 — — 51,660 Corporate general and administrative expenses 48,334 476 5,471 54,281 (Gain) loss on asset dispositions and other, net of impairment (85,400 ) (b) 59,550 (a) — (25,850 ) Operating income (loss) 316,774 (b) (72,368 ) (a) (5,509 ) 238,897 Interest expense 2,809 400 158,804 162,013 (Loss) income from equity method investments — (31,617 ) 1,340 (30,277 ) (a) Includes a $59.6 million impairment to the carrying value of a consolidated real estate venture. (b) Includes a gain of $83.3 million related to the auction proceeds. See Note 2. Acquisitions and Dispositions of Assets .

VARIABLE INTEREST ENTITIES

VARIABLE INTEREST ENTITIES	6 Months Ended
	Jun. 30, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
VARIABLE INTEREST ENTITIES	VARIABLE INTEREST ENTITIES: 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 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. In February 2019, we entered into a joint venture with an affiliate of the Chicago Cubs to establish and operate Marquee Sports Network (Marquee). Marquee simultaneously entered into a long term telecast rights agreement with the Chicago Cubs, providing Marquee with the rights to air certain live game telecasts and other content, which we guarantee. Pursuant to a management services agreement, we are responsible for several key functions of Marquee, which most notably includes affiliate and advertising sales services. We have determined that we will consolidate Marquee because it is a variable interest entity and we are the primary beneficiary. The carrying amounts and classification of the assets and liabilities of the VIEs mentioned above, which have been included in our consolidated balance sheets as of the dates presented, were as follows (in thousands): As of June 30, As of December 31, ASSETS Current assets: Cash and cash equivalents $ 10,000 $ — Accounts receivable, net 17,255 28,276 Other current assets 2,738 6,773 Total current assets 29,993 35,049 Program contract costs, less current portion 1,393 2,058 Property and equipment, net 8,407 5,346 Goodwill and indefinite-lived intangible assets 15,064 15,064 Definite-lived intangible assets, net 64,217 67,680 Other assets 2,362 2,374 Total assets $ 121,436 $ 127,571 LIABILITIES Current liabilities: Other current liabilities $ 12,895 $ 18,298 Notes payable, finance leases and commercial bank financing, less current portion 17,085 19,278 Program contracts payable, less current portion 6,917 8,474 Other long-term liabilities 650 650 Total liabilities $ 37,547 $ 46,700 The amounts above represent the consolidated assets and liabilities of the VIEs described above, for which we are the primary beneficiary. Total liabilities associated with certain outsourcing agreements and purchase options with certain VIEs, which are excluded from the above, were $125.9 million and $124.5 million as of June 30, 2019 and December 31, 2018 , 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. As of June 30, 2019 , all of the liabilities are non-recourse to us except for the debt of certain VIEs. See Debt of variable interest entities and guarantees of third-party debt under Note 3. Notes Payable and Commercial Bank Financing for further discussion. The risk and reward characteristics of the VIEs are similar. Other VIEs We have several investments in entities 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. The carrying amounts of our investments in these VIEs for which we are not the primary beneficiary were $72.7 million and $71.3 million as of June 30, 2019 and December 31, 2018 , respectively. Our maximum exposure is equal to the carrying value of our investments. The income and loss related to equity method investments and other investments are recorded in (loss) income from equity method investments and other income, net, respectively, on our consolidated statements of operations. We recorded losses of $11.5 million and $24.6 million for the three and six months ended June 30, 2019 , respectively, and losses of $14.5 million and $23.5 million for the three and six months ended June 30, 2018 , respectively.

RELATED PERSON TRANSACTIONS

RELATED PERSON TRANSACTIONS	6 Months Ended
	Jun. 30, 2019
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 our 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 entities owned by the controlling shareholders. Lease payments made to these entities were $1.3 million for both the three months ended June 30, 2019 and 2018 and $2.2 million and $2.7 million for the six months ended June 30, 2019 and 2018 , respectively. Charter Aircraft. We lease aircraft owned by certain controlling shareholders. For all leases, we incurred expenses of $0.5 million and $0.4 million for the three months ended June 30, 2019 and 2018 , respectively, and $1.0 million and $0.8 million for the six months ended June 30, 2019 and 2018 , respectively. Cunningham Broadcasting Corporation Cunningham owns a portfolio of television stations, including: WNUV-TV Baltimore, Maryland; WRGT-TV Dayton, Ohio; WVAH-TV Charleston, West Virginia; WMYA-TV Anderson, South Carolina; WTTE-TV Columbus, Ohio; WDBB-TV Birmingham, Alabama; WBSF-TV Flint, Michigan; WGTU-TV/WGTQ-TV Traverse City/Cadillac, Michigan; WEMT-TV Tri-Cities, Tennessee; WYDO-TV Greenville, North Carolina; KBVU-TV/KCVU-TV Eureka/Chico-Redding, California; WPFO-TV Portland, Maine; and KRNV-DT/KENV-DT Reno, Nevada/Salt Lake City, Utah (collectively, the Cunningham Stations). Certain of our stations provide services to the Cunningham Stations pursuant to LMAs or JSAs and SSAs. See Note 8. Variable Interest Entities , for further discussion of the scope of services provided under these types of arrangements. As of June 30, 2019 , we have jointly and severally, unconditionally, and irrevocably guaranteed $48.0 million of Cunningham's debt, of which $9.5 million , net of $0.6 million deferred financing costs, relates to the Cunningham VIEs that we consolidate. The voting stock of Cunningham is owned by an unrelated party. 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. 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 or (ii) $5.0 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 cumulative prepayments made under these purchase agreements were $49.2 million and $47.4 million as of June 30, 2019 and December 31, 2018 , respectively. The remaining aggregate purchase price of these stations, net of prepayments, as of both June 30, 2019 and December 31, 2018 , was approximately $53.6 million . Additionally, we provide services to WDBB-TV pursuant to an LMA, which expires April 22, 2025, and have a purchase option to acquire for $0.2 million . We paid Cunningham, under these agreements, $2.2 million and $2.1 million for the three months ended June 30, 2019 and 2018 , respectively, and $4.2 million and $4.7 million for the six months ended June 30, 2019 and 2018 , respectively. The agreements with KBVU-TV/KCVU-TV, KRNV-DT/KENV-DT, WBSF-TV, WEMT-TV, WGTU-TV/WGTQ-TV, WPFO-TV, and WYDO-TV expire between December 2020 and August 2025 and certain stations have renewal provisions for successive eight -year periods. 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 on our consolidated statements of operations. Our consolidated revenues include $38.5 million and $38.8 million for the three months ended June 30, 2019 and 2018 , respectively, and $73.0 million and $76.3 million for the six months ended June 30, 2019 and 2018 , respectively, related to the Cunningham Stations. 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 Cunningham has an LMA that expires in June 2022. Under the agreement, Cunningham paid us an initial fee of $0.7 million and pays us $0.2 million annually for master control services plus the cost to maintain and repair the equipment. In August 2016, we entered into an agreement, expiring in October 2021, with Cunningham to provide a news share service with the Johnstown, PA station beginning in October 2016 for an annual fee of $1.0 million . 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 less than $0.1 million for both the three months ended June 30, 2019 and 2018 and both the six months ended June 30, 2019 and 2018 . Leased property by real estate ventures Certain of our real estate ventures have entered into leases with entities owned by members of the Smith Family. Total rent received under these leases was $0.2 million and $0.1 million for the three months ended June 30, 2019 and 2018 , respectively, and $0.4 million and $0.2 million for the six months ended June 30, 2019 and 2018 , respectively. Other transactions with equity method investees In 2019, 120 Sports Holding, LLC (120 Sports), an equity method investee, entered into a secured promissory note to borrow $6.25 million from us, maturing on January 11, 2020 . The note bears interest at a fixed rate of 12.0% per annum.

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	6 Months Ended
	Jun. 30, 2019
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 following table sets forth the face value and fair value of our notes and debentures for the periods presented (in thousands): As of June 30, 2019 As of December 31, 2018 Face Value (a) Fair Value Face Value (a) Fair Value Level 2: 6.125% Senior Unsecured Notes due 2022 $ 500,000 $ 508,125 $ 500,000 $ 503,750 5.875% Senior Unsecured Notes due 2026 350,000 357,770 350,000 326,375 5.625% Senior Unsecured Notes due 2024 550,000 562,375 550,000 515,625 5.375% Senior Unsecured Notes due 2021 600,000 600,378 600,000 598,500 5.125% Senior Unsecured Notes due 2027 400,000 392,000 400,000 353,000 Term Loan A (b) — — 95,892 92,057 Term Loan B 1,335,750 1,315,714 1,342,600 1,275,470 Debt of variable interest entities 23,114 23,114 25,281 25,281 Debt of non-media subsidiaries 18,671 18,671 19,577 19,577 (a) Amounts are carried on our consolidated balance sheets net of debt discount and deferred financing cost, which are excluded in the above table, of $29.6 million and $33.0 million as of June 30, 2019 and December 31, 2018 , respectively. (b) Term Loan A debt was repaid in April 2019. For additional information, see Note 3. Notes Payable and Commercial Bank Financing .

CONDENSED CONSOLIDATING FINANCI

CONDENSED CONSOLIDATING FINANCIAL STATEMENTS	6 Months Ended
	Jun. 30, 2019
Condensed Financial Information 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, and 5.125% Notes. Our Class A Common Stock and Class B Common Stock as of June 30, 2019 , 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, and 5.125% Notes. As of June 30, 2019 , our consolidated total debt, net of deferred financing costs and debt discounts, of $3,788.0 million included $3,769.4 million related to STG and its subsidiaries of which SBG guaranteed $3,729.5 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, 2019 (in thousands) (unaudited) Sinclair Sinclair Guarantor Non- Eliminations Sinclair Cash and cash equivalents $ — $ 891,865 $ 2,995 $ 34,178 $ — $ 929,038 Accounts receivable, net — — 538,644 51,308 — 589,952 Other current assets 4,511 12,655 91,021 34,348 (25,895 ) 116,640 Total current assets 4,511 904,520 632,660 119,834 (25,895 ) 1,635,630 Property and equipment, net 723 31,187 612,278 71,960 (16,643 ) 699,505 Investment in consolidated subsidiaries 1,546,563 3,579,483 — — (5,126,046 ) — Goodwill — — 2,120,035 3,867 — 2,123,902 Indefinite-lived intangible assets — — 143,924 14,440 — 158,364 Definite-lived intangible assets, net — — 1,523,633 66,307 (49,457 ) 1,540,483 Other long-term assets 45,396 879,846 297,849 164,460 (991,769 ) 395,782 Total assets $ 1,597,193 $ 5,395,036 $ 5,330,379 $ 440,868 $ (6,209,810 ) $ 6,553,666 Accounts payable and accrued liabilities $ 15,101 $ 90,325 $ 269,371 $ 76,592 $ (26,809 ) $ 424,580 Current portion of long-term debt — 13,700 4,247 7,838 (578 ) 25,207 Other current liabilities 1,052 616 67,945 6,824 — 76,437 Total current liabilities 16,153 104,641 341,563 91,254 (27,387 ) 526,224 Long-term debt — 3,693,460 34,555 365,283 (330,504 ) 3,762,794 Other long-term liabilities 11,925 46,745 1,376,146 173,456 (872,623 ) 735,649 Total liabilities 28,078 3,844,846 1,752,264 629,993 (1,230,514 ) 5,024,667 Total Sinclair Broadcast Group equity (deficit) 1,569,115 1,550,190 3,578,115 (145,440 ) (4,982,865 ) 1,569,115 Noncontrolling interests in consolidated subsidiaries — — — (43,685 ) 3,569 (40,116 ) Total liabilities and equity (deficit) $ 1,597,193 $ 5,395,036 $ 5,330,379 $ 440,868 $ (6,209,810 ) $ 6,553,666 CONDENSED CONSOLIDATING BALANCE SHEET AS OF DECEMBER 31, 2018 (in thousands) Sinclair Sinclair Guarantor Non- Eliminations Sinclair Cash and cash equivalents $ — $ 961,963 $ 19,648 $ 78,719 $ — $ 1,060,330 Accounts receivable, net — — 530,543 68,054 — 598,597 Other current assets 3,235 5,548 103,111 37,157 (24,072 ) 124,979 Total current assets 3,235 967,511 653,302 183,930 (24,072 ) 1,783,906 Property and equipment, net 754 31,773 593,755 70,223 (13,371 ) 683,134 Investment in consolidated subsidiaries 1,604,234 3,654,263 4,179 — (5,262,676 ) — Goodwill — — 2,120,035 3,867 — 2,123,902 Indefinite-lived intangible assets — — 143,924 14,298 — 158,222 Definite-lived intangible assets, net — — 1,608,748 70,409 (52,277 ) 1,626,880 Other long-term assets 31,002 851,170 119,187 165,064 (970,375 ) 196,048 Total assets $ 1,639,225 $ 5,504,717 $ 5,243,130 $ 507,791 $ (6,322,771 ) $ 6,572,092 Accounts payable and accrued liabilities $ 100 $ 78,814 $ 273,444 $ 85,875 $ (25,006 ) $ 413,227 Current portion of long-term debt — 31,135 4,100 7,842 (513 ) 42,564 Other current liabilities — — 107,051 9,743 — 116,794 Total current liabilities 100 109,949 384,595 103,460 (25,519 ) 572,585 Long-term debt — 3,775,489 36,551 381,913 (344,062 ) 3,849,891 Other long-term liabilities 289 40,132 1,169,184 173,197 (833,506 ) 549,296 Total liabilities 389 3,925,570 1,590,330 658,570 (1,203,087 ) 4,971,772 Total Sinclair Broadcast Group equity (deficit) 1,638,836 1,579,147 3,652,800 (107,825 ) (5,124,122 ) 1,638,836 Noncontrolling interests in consolidated subsidiaries — — — (42,954 ) 4,438 (38,516 ) Total liabilities and equity (deficit) $ 1,639,225 $ 5,504,717 $ 5,243,130 $ 507,791 $ (6,322,771 ) $ 6,572,092 CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME FOR THE THREE MONTHS ENDED JUNE 30, 2019 (in thousands) (unaudited) Sinclair Sinclair Guarantor Non- Eliminations Sinclair Net revenue $ — $ — $ 704,513 $ 88,710 $ (22,504 ) $ 770,719 Media program and production expenses — — 317,279 32,744 (14,861 ) 335,162 Selling, general and administrative 18,999 32,569 162,019 4,123 (1,300 ) 216,410 Depreciation, amortization and other operating expenses 152 1,328 69,499 46,422 (4,253 ) 113,148 Total operating expenses 19,151 33,897 548,797 83,289 (20,414 ) 664,720 Operating (loss) income (19,151 ) (33,897 ) 155,716 5,421 (2,090 ) 105,999 Equity in earnings of consolidated subsidiaries 57,015 118,038 — — (175,053 ) — Interest expense (163 ) (52,020 ) (889 ) (4,136 ) 3,530 (53,678 ) Other income (expense) 351 4,789 (11,729 ) 278 — (6,311 ) Total other income (expense) 57,203 70,807 (12,618 ) (3,858 ) (171,523 ) (59,989 ) Income tax benefit (provision) 4,245 17,370 (23,902 ) (340 ) — (2,627 ) Net income 42,297 54,280 119,196 1,223 (173,613 ) 43,383 Net income attributable to the noncontrolling interests — — — (1,072 ) (14 ) (1,086 ) Net income attributable to Sinclair Broadcast Group $ 42,297 $ 54,280 $ 119,196 $ 151 $ (173,627 ) $ 42,297 Comprehensive income $ 42,297 $ 54,280 $ 119,196 $ 1,223 $ (173,613 ) $ 43,383 CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME FOR THE THREE MONTHS ENDED JUNE 30, 2018 (in thousands) (unaudited) Sinclair Sinclair Guarantor Non- Eliminations Sinclair Net revenue $ — $ — $ 680,130 $ 71,730 $ (21,717 ) $ 730,143 Media program and production expenses — — 285,940 33,175 (18,257 ) 300,858 Selling, general and administrative 2,874 26,585 147,180 4,352 (512 ) 180,479 Depreciation, amortization and other operating expenses 19 1,134 84,573 33,223 (1,725 ) 117,224 Total operating expenses 2,893 27,719 517,693 70,750 (20,494 ) 598,561 Operating (loss) income (2,893 ) (27,719 ) 162,437 980 (1,223 ) 131,582 Equity in earnings of consolidated subsidiaries 29,345 128,164 (185 ) — (157,324 ) — Interest expense (1 ) (90,635 ) (989 ) (4,643 ) 3,997 (92,271 ) Other income (expense) 642 3,256 (14,345 ) (2,852 ) — (13,299 ) Total other income (expense) 29,986 40,785 (15,519 ) (7,495 ) (153,327 ) (105,570 ) Income tax benefit (provision) 948 22,056 (17,607 ) (2,100 ) — 3,297 Net income (loss) 28,041 35,122 129,311 (8,615 ) (154,550 ) 29,309 Net income attributable to the noncontrolling interests — — — (1,268 ) — (1,268 ) Net income (loss) attributable to Sinclair Broadcast Group $ 28,041 $ 35,122 $ 129,311 $ (9,883 ) $ (154,550 ) $ 28,041 Comprehensive income (loss) $ 28,041 $ 35,122 $ 129,311 $ (8,615 ) $ (154,550 ) $ 29,309 CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME FOR THE SIX MONTHS ENDED JUNE 30, 2019 (in thousands) (unaudited) Sinclair Sinclair Guarantor Non- Eliminations Sinclair Net revenue $ — $ 4 $ 1,360,858 $ 171,903 $ (39,943 ) $ 1,492,822 Media program and production expenses — — 618,722 62,938 (27,454 ) 654,206 Selling, general and administrative 20,986 58,329 318,435 8,832 (2,523 ) 404,059 Depreciation, amortization and other operating expenses 383 2,535 147,691 90,099 (5,748 ) 234,960 Total operating expenses 21,369 60,864 1,084,848 161,869 (35,725 ) 1,293,225 Operating (loss) income (21,369 ) (60,860 ) 276,010 10,034 (4,218 ) 199,597 Equity in earnings of consolidated subsidiaries 80,250 207,320 — — (287,570 ) — Interest expense (163 ) (104,971 ) (1,939 ) (8,592 ) 7,361 (108,304 ) Other income (expense) 723 5,796 (23,398 ) (874 ) — (17,753 ) Total other income (expense) 80,810 108,145 (25,337 ) (9,466 ) (280,209 ) (126,057 ) Income tax benefit (provision) 4,528 29,003 (40,776 ) (141 ) — (7,386 ) Net income 63,969 76,288 209,897 427 (284,427 ) 66,154 Net income attributable to the noncontrolling interests — — — (3,051 ) 866 (2,185 ) Net income (loss) attributable to Sinclair Broadcast Group $ 63,969 $ 76,288 $ 209,897 $ (2,624 ) $ (283,561 ) $ 63,969 Comprehensive income $ 63,969 $ 76,288 $ 209,897 $ 427 $ (284,427 ) $ 66,154 CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME FOR THE SIX MONTHS ENDED JUNE 30, 2018 (in thousands) (unaudited) Sinclair Sinclair Guarantor Non- Eliminations Sinclair Net revenue $ — $ — $ 1,305,814 $ 129,741 $ (40,059 ) $ 1,395,496 Media program and production expenses — — 559,355 65,195 (35,143 ) 589,407 Selling, general and administrative 5,471 48,339 290,481 8,636 (953 ) 351,974 Depreciation, amortization and other operating expenses 38 2,384 90,989 124,231 (2,424 ) 215,218 Total operating expenses 5,509 50,723 940,825 198,062 (38,520 ) 1,156,599 Operating (loss) income (5,509 ) (50,723 ) 364,989 (68,321 ) (1,539 ) 238,897 Equity in earnings of consolidated subsidiaries 74,383 299,934 245 — (374,562 ) — Interest expense (1 ) (158,803 ) (1,961 ) (9,193 ) 7,945 (162,013 ) Other income (expense) 1,323 5,551 (27,706 ) (1,673 ) — (22,505 ) Total other income (expense) 75,705 146,682 (29,422 ) (10,866 ) (366,617 ) (184,518 ) Income tax benefit (provision) 969 37,454 (33,283 ) 13,785 — 18,925 Net income (loss) 71,165 133,413 302,284 (65,402 ) (368,156 ) 73,304 Net income attributable to the noncontrolling interests — — — (2,324 ) 185 (2,139 ) Net income (loss) attributable to Sinclair Broadcast Group $ 71,165 $ 133,413 $ 302,284 $ (67,726 ) $ (367,971 ) $ 71,165 Comprehensive income (loss) $ 71,165 $ 133,413 $ 302,284 $ (65,402 ) $ (368,156 ) $ 73,304 CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS FOR THE SIX MONTHS ENDED JUNE 30, 2019 (in thousands) (unaudited) Sinclair Sinclair Guarantor Non- Eliminations Sinclair NET CASH FLOWS (USED IN) FROM OPERATING ACTIVITIES $ (198 ) $ (122,095 ) $ 328,029 $ 22,155 $ (5,200 ) $ 222,691 CASH FLOWS (USED IN) FROM INVESTING ACTIVITIES: Acquisition of property and equipment (8 ) (1,691 ) (63,374 ) (1,476 ) 4,954 (61,595 ) Purchases of investments (2,291 ) (6,005 ) (29,970 ) (5,328 ) — (43,594 ) Distributions from investments — — — 3,026 — 3,026 Spectrum repack reimbursements — — 22,119 — — 22,119 Other, net — (1,041 ) (373 ) 9 — (1,405 ) Net cash flows (used in) from investing activities (2,299 ) (8,737 ) (71,598 ) (3,769 ) 4,954 (81,449 ) CASH FLOWS FROM (USED IN) FINANCING ACTIVITIES: Proceeds from notes payable and commercial bank financing — — — 668 (159 ) 509 Repayments of notes payable, commercial bank financing and finance leases — (102,742 ) (2,015 ) (24,558 ) 20,761 (108,554 ) Dividends paid on Class A and Class B Common Stock (36,765 ) — — — — (36,765 ) Repurchase of outstanding Class A Common Stock (125,034 ) — — — — (125,034 ) Increase (decrease) in intercompany payables 164,061 163,476 (271,069 ) (36,112 ) (20,356 ) — Other, net 235 — — (2,925 ) — (2,690 ) Net cash flows from (used in) financing activities 2,497 60,734 (273,084 ) (62,927 ) 246 (272,534 ) NET DECREASE IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH — (70,098 ) (16,653 ) (44,541 ) — (131,292 ) CASH, CASH EQUIVALENTS, AND RESTRICTED CASH, beginning of period — 961,963 19,648 78,719 — 1,060,330 CASH, CASH EQUIVALENTS, AND RESTRICTED CASH, end of period $ — $ 891,865 $ 2,995 $ 34,178 $ — $ 929,038 CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS FOR THE SIX MONTHS ENDED JUNE 30, 2018 (in thousands) (unaudited) Sinclair Sinclair Guarantor Non- Eliminations Sinclair NET CASH FLOWS (USED IN) FROM OPERATING ACTIVITIES $ (1,196 ) $ (154,476 ) $ 412,837 $ (9,691 ) $ 7,682 $ 255,156 CASH FLOWS FROM (USED IN) INVESTING ACTIVITIES: Acquisition of property and equipment — (4,250 ) (46,803 ) (2,463 ) 1,248 (52,268 ) Purchases of investments (1,735 ) (1,821 ) (13,586 ) (1,454 ) — (18,596 ) Distributions from investments 2,498 — — 11,007 — 13,505 Spectrum repack reimbursements — — 1,542 — — 1,542 Other, net 1,670 (2,731 ) 1,005 — — (56 ) Net cash flows from (used in) investing activities 2,433 (8,802 ) (57,842 ) 7,090 1,248 (55,873 ) CASH FLOWS (USED IN) FROM FINANCING ACTIVITIES: Proceeds from notes payable and commercial bank financing — — — 2,016 — 2,016 Repayments of notes payable, commercial bank financing and finance leases — (132,937 ) (1,715 ) (7,612 ) 187 (142,077 ) Dividends paid on Class A and Class B Common Stock (36,794 ) — — — — (36,794 ) Increase (decrease) in intercompany payables 33,309 606,796 (666,187 ) 35,199 (9,117 ) — Other, net 2,248 — — (4,392 ) — (2,144 ) Net cash flows (used in) from financing activities (1,237 ) 473,859 (667,902 ) 25,211 (8,930 ) (178,999 ) NET INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH — 310,581 (312,907 ) 22,610 — 20,284 CASH, CASH EQUIVALENTS, AND RESTRICTED CASH, beginning of period — 645,830 323,383 26,727 — 995,940 CASH, CASH EQUIVALENTS, AND RESTRICTED CASH, end of period $ — $ 956,411 $ 10,476 $ 49,337 $ — $ 1,016,224

NATURE OF OPERATIONS AND SUMM_2

NATURE OF OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	6 Months Ended
	Jun. 30, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of Operations	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, 2019 , 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 191 stations in 89 markets. These stations broadcast 604 channels as of June 30, 2019 . For the purpose of this report, these 191 stations and 604 channels are referred to as "our" stations and channels.
Principles of Consolidation and Interim Financial Statements	Principles of Consolidation The consolidated financial statements include our accounts and those of our wholly-owned and majority-owned subsidiaries and variable interest entities (VIEs) for which we are the primary beneficiary. Noncontrolling interest represents a minority owner’s proportionate share of the equity in certain of our consolidated entities. All intercompany transactions and account balances have been eliminated in consolidation. We consolidate VIEs when we are the primary beneficiary. We are the primary beneficiary of a VIE when we have the power to direct the activities of the VIE that most significantly impact the economic performance of the VIE and have the obligation to absorb losses or the right to receive returns that would be significant to the VIE. See Note 8. Variable Interest Entities for more information on our VIEs. Investments in entities over which we have significant influence but not control are accounted for using the equity method of accounting. Income from equity method investments represents our proportionate share of net income generated by equity method investees.
Equity Investments	Equity Investments
Use of Estimates	Use of Estimates The preparation of financial statements in accordance with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues, and expenses in the consolidated financial statements and in the disclosures of contingent assets and liabilities. Actual results could differ from those estimates.
Recent Accounting Pronouncements	Recent Accounting Pronouncements In February 2016, the Financial Accounting Standards Board (FASB) issued new guidance related to accounting for leases, Accounting Standards Codification Topic 842 (ASC 842). We adopted the new guidance on January 1, 2019 using the modified retrospective approach and the optional transition method. Under this adoption method, comparative prior periods were not adjusted and continue to be reported in accordance with our historical accounting policy. We elected to apply the package of practical expedients permitted under the transition guidance within the new standard, which, among other things, allowed us to carryforward our historical assessments of whether contracts are, or contain, leases and lease classification. The primary impact of adopting this standard was the recognition of $215.2 million of operating lease liabilities and $196.1 million of operating lease assets, upon adoption. The adoption did not have a material impact on how we account for finance leases. See Note 4. Leases for more information regarding our leasing arrangements. In August 2018, the FASB issued guidance which aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software, with the capitalized implementation costs of a hosting arrangement that is a service contract expensed over the term of the hosting arrangement. The new standard is effective for interim and annual reporting periods beginning after December 15, 2019, applied either retrospectively or prospectively to all implementation costs incurred after the date of adoption. Early adoption is permitted. We are currently evaluating the impact of this guidance on our consolidated financial statements. In October 2018, the FASB issued guidance for determining whether a decision-making fee is a variable interest. The amendments require organizations to consider indirect interests held through related parties under common control on a proportional basis rather than as the equivalent of a direct interest in its entirety (as currently required in GAAP). The new standard is effective for interim and annual reporting periods beginning after December 15, 2019, applied retrospectively. Early adoption is permitted. We are currently evaluating the impact of this guidance on our consolidated financial statements. In March 2019, the FASB issued guidance which requires that an entity test a film or license agreement within the scope of Subtopic 920-350 for impairment at the film group level, when the film or license agreement is predominantly monetized with other films and/or license agreements. The new standard is effective for interim and annual reporting periods beginning after December 15, 2019, applied prospectively. Early adoption is permitted. We are currently evaluating the impact of this guidance on our consolidated financial statements.
Revenue Recognition	Advertising Revenue. We generate advertising revenue primarily from the sale of advertising spots/impressions on our broadcast television and digital platforms. Distribution Revenue. The Company generates distribution revenue through fees received from multi-channel video programming distributors (MVPDs) and virtual MVPDs for the right to distribute our stations and other properties on their respective distribution platforms. In accordance with ASC 606, we do not disclose the value of unsatisfied performance obligations for (i) contracts with an original expected length of one year or less and (ii) distribution arrangements which are accounted for as a sales/usage based royalty. Deferred Revenues.
Income Taxes	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, 2019 and 2018 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 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, 2019 was less than the statutory rate primarily due to $8.3 million and $13.0 million , respectively, of federal tax credits related to investments in sustainability initiatives. Our effective income tax rate for the three months ended June 30, 2018 was less than the statutory rate primarily due to $5.2 million of federal tax credits related to investments in sustainability initiatives and a $4.2 million state benefit related to a change in apportionment estimates on recognition of previously deferred tax gain from the sale of certain broadcast spectrum in connection with the Broadcast Incentive Auction. Our effective income tax rate for the six months ended June 30, 2018 was less than the statutory rate primarily due to a $17.7 million permanent tax benefit recognized from an IRS tax ruling on the treatment of the gain from the sale of certain broadcast spectrum in connection with the Broadcast Incentive Auction and $6.3 million
Reclassifications	Reclassifications Certain reclassifications have been made to prior years' consolidated financial statements to conform to the current year's presentation.
Fair Value Measurement	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 SUMM_3

NATURE OF OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	6 Months Ended
	Jun. 30, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Disaggregation of Revenue	The following table presents our revenue disaggregated by type and segment (in thousands): Three Months Ended June 30, 2019 June 30, 2018 Broadcast Other Total Broadcast Other Total Advertising revenue $ 314,520 $ 24,584 $ 339,104 $ 338,204 $ 20,918 $ 359,122 Distribution revenue 334,746 31,911 366,657 291,931 27,527 319,458 Other media and non-media revenues 10,358 54,600 64,958 12,144 39,419 51,563 Total revenues $ 659,624 $ 111,095 $ 770,719 $ 642,279 $ 87,864 $ 730,143 Six Months Ended June 30, 2019 June 30, 2018 Broadcast Other Total Broadcast Other Total Advertising revenue $ 602,370 $ 44,786 $ 647,156 $ 637,116 $ 38,334 $ 675,450 Distribution revenue 654,744 64,078 718,822 579,056 54,762 633,818 Other media and non-media revenues 21,011 105,833 126,844 22,000 64,228 86,228 Total revenues $ 1,278,125 $ 214,697 $ 1,492,822 $ 1,238,172 $ 157,324 $ 1,395,496

LEASES (Tables)

LEASES (Tables)	6 Months Ended
	Jun. 30, 2019
Leases [Abstract]
Components of Lease Expense	The following table presents lease expense we have recorded within our consolidated statements of operations for the three and six months ended June 30, 2019 (in thousands): Three Months Ended June 30, 2019 Six Months Ended June 30, 2019 Finance lease expense: Amortization of finance lease asset $ 775 $ 1,494 Interest on lease liabilities 1,063 1,977 Total finance lease expense 1,838 3,471 Operating lease expense (a) 10,217 20,155 Total lease expense $ 12,055 $ 23,626 (a) Includes variable and short-term lease expense of $1.2 million and $0.2 million , respectively, for the three months ended June 30, 2019 and $2.3 million and $0.5 million , respectively, for the six months ended June 30, 2019 . The following table presents other information related to leases for the six months ended June 30, 2019 (in thousands): Six Months Ended Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 15,379 Operating cash flows from finance leases 1,965 Financing cash flows from finance leases 2,228 Leased assets obtained in exchange for new lease liabilities 9,969
Maturity of Operating Leases	The following table summarizes our outstanding operating and finance lease obligations as of June 30, 2019 (in thousands): Operating Leases Finance Leases Total 2019 $ 16,975 $ 4,042 $ 21,017 2020 31,711 7,938 39,649 2021 29,688 7,908 37,596 2022 27,174 7,166 34,340 2023 25,786 7,138 32,924 Thereafter 168,856 21,217 190,073 Total undiscounted obligations 300,190 55,409 355,599 Less imputed interest (83,269 ) (15,393 ) (98,662 ) Present value of lease obligations $ 216,921 $ 40,016 $ 256,937
Maturity of Finance Leases	The following table summarizes our outstanding operating and finance lease obligations as of June 30, 2019 (in thousands): Operating Leases Finance Leases Total 2019 $ 16,975 $ 4,042 $ 21,017 2020 31,711 7,938 39,649 2021 29,688 7,908 37,596 2022 27,174 7,166 34,340 2023 25,786 7,138 32,924 Thereafter 168,856 21,217 190,073 Total undiscounted obligations 300,190 55,409 355,599 Less imputed interest (83,269 ) (15,393 ) (98,662 ) Present value of lease obligations $ 216,921 $ 40,016 $ 256,937
Future minimum payments under operating leases	Future minimum payments under operating leases as of December 31, 2018 were as follows (in thousands): 2019 $ 32,108 2020 31,287 2021 29,547 2022 26,702 2023 24,325 2024 and thereafter 157,816 Total $ 301,785
Supplemental Balance Sheet Information	The following table summarizes supplemental balance sheet information related to leases as of June 30, 2019 (in thousands, except lease term and discount rate): Operating Leases Finance Leases Lease assets, non-current $ 192,390 $ 16,130 (a) Lease liabilities, current $ 22,662 $ 4,605 Lease liabilities, non-current 194,259 35,411 Total lease liabilities $ 216,921 $ 40,016 Weighted average remaining lease term (in years) 10.94 7.55 Weighted average discount rate 5.8 % 9.0 % (a) Finance lease assets are reflected in property and equipment, net.

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	6 Months Ended
	Jun. 30, 2019
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 2019 2018 2019 2018 Income (Numerator) Net income $ 43,383 $ 29,309 $ 66,154 $ 73,304 Net income attributable to noncontrolling interests (1,086 ) (1,268 ) (2,185 ) (2,139 ) Numerator for basic and diluted earnings per common share available to common shareholders $ 42,297 $ 28,041 $ 63,969 $ 71,165 Shares (Denominator) Weighted-average common shares outstanding 91,764 102,224 92,032 102,062 Dilutive effect of stock-settled appreciation rights and outstanding stock options 1,399 762 1,157 890 Weighted-average common and common equivalent shares outstanding 93,163 102,986 93,189 102,952
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share	The following table shows the weighted-average stock-settled appreciation rights and outstanding stock options (in thousands) that are excluded from the calculation of diluted earnings per common share as the inclusion of such shares would be anti-dilutive: Three Months Ended Six Months Ended 2019 2018 2019 2018 Weighted-average stock-settled appreciation rights and outstanding stock options excluded — 1,600 475 1,050

SEGMENT DATA (Tables)

SEGMENT DATA (Tables)	6 Months Ended
	Jun. 30, 2019
Segment Reporting [Abstract]
Schedule of segment financial information	Segment financial information is included in the following tables for the periods presented (in thousands): As of June 30, 2019 Broadcast Other Corporate Consolidated Assets $ 4,828,998 $ 726,311 $ 998,357 $ 6,553,666 For the three months ended June 30, 2019 Broadcast Other Corporate Consolidated Revenue $ 659,624 $ 111,095 $ — $ 770,719 Depreciation of property and equipment and amortization of definite-lived intangibles and other assets 59,504 6,319 19 65,842 Amortization of program contract costs and net realizable value adjustments 22,084 — — 22,084 Corporate general and administrative expenses 32,569 263 18,823 51,655 (Gain) loss on asset dispositions and other, net of impairment (14,122 ) 134 — (13,988 ) Operating income (loss) 134,918 (10,077 ) (18,842 ) 105,999 Interest expense 1,300 195 52,183 53,678 (Loss) income from equity method investments — (11,929 ) 85 (11,844 ) For the three months ended June 30, 2018 Broadcast Other Corporate Consolidated Revenue $ 642,279 $ 87,864 $ — $ 730,143 Depreciation of property and equipment and amortization of definite-lived intangibles and other assets 58,964 7,251 19 66,234 Amortization of program contract costs and net realizable value adjustments 24,710 — — 24,710 Corporate general and administrative expenses 26,590 221 2,874 29,685 Gain on asset dispositions and other, net of impairment (1,301 ) (3,440 ) — (4,741 ) Operating income (loss) 140,607 (6,132 ) (2,893 ) 131,582 Interest expense 1,438 198 90,635 92,271 Loss from equity method investments — (17,256 ) (434 ) (17,690 ) For the six months ended June 30, 2019 Broadcast Other Corporate Consolidated Revenue $ 1,278,125 $ 214,697 $ — $ 1,492,822 Depreciation of property and equipment and amortization of definite-lived intangibles and other assets 122,185 10,103 38 132,326 Amortization of program contract costs and net realizable value adjustments 46,021 — — 46,021 Corporate general and administrative expenses 58,329 420 20,632 79,381 (Gain) loss on asset dispositions and other, net of impairment (22,142 ) 347 (102 ) (21,897 ) Operating income (loss) 230,145 (9,980 ) (20,568 ) 199,597 Interest expense 2,783 387 105,134 108,304 (Loss) income from equity method investments — (25,881 ) 400 (25,481 ) For the six months ended June 30, 2018 Broadcast Other Corporate Consolidated Revenue $ 1,238,172 $ 157,324 $ — $ 1,395,496 Depreciation of property and equipment and amortization of definite-lived intangibles and other assets 122,833 14,293 38 137,164 Amortization of program contract costs and net realizable value adjustments 51,660 — — 51,660 Corporate general and administrative expenses 48,334 476 5,471 54,281 (Gain) loss on asset dispositions and other, net of impairment (85,400 ) (b) 59,550 (a) — (25,850 ) Operating income (loss) 316,774 (b) (72,368 ) (a) (5,509 ) 238,897 Interest expense 2,809 400 158,804 162,013 (Loss) income from equity method investments — (31,617 ) 1,340 (30,277 ) (a) Includes a $59.6 million impairment to the carrying value of a consolidated real estate venture. (b) Includes a gain of $83.3 million related to the auction proceeds. See Note 2. Acquisitions and Dispositions of Assets .

VARIABLE INTEREST ENTITIES (Tab

VARIABLE INTEREST ENTITIES (Tables)	6 Months Ended
	Jun. 30, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Variable Interest Entities	The carrying amounts and classification of the assets and liabilities of the VIEs mentioned above, which have been included in our consolidated balance sheets as of the dates presented, were as follows (in thousands): As of June 30, As of December 31, ASSETS Current assets: Cash and cash equivalents $ 10,000 $ — Accounts receivable, net 17,255 28,276 Other current assets 2,738 6,773 Total current assets 29,993 35,049 Program contract costs, less current portion 1,393 2,058 Property and equipment, net 8,407 5,346 Goodwill and indefinite-lived intangible assets 15,064 15,064 Definite-lived intangible assets, net 64,217 67,680 Other assets 2,362 2,374 Total assets $ 121,436 $ 127,571 LIABILITIES Current liabilities: Other current liabilities $ 12,895 $ 18,298 Notes payable, finance leases and commercial bank financing, less current portion 17,085 19,278 Program contracts payable, less current portion 6,917 8,474 Other long-term liabilities 650 650 Total liabilities $ 37,547 $ 46,700

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	6 Months Ended
	Jun. 30, 2019
Fair Value Disclosures [Abstract]
Schedule of carrying value and fair value of notes and debentures	The following table sets forth the face value and fair value of our notes and debentures for the periods presented (in thousands): As of June 30, 2019 As of December 31, 2018 Face Value (a) Fair Value Face Value (a) Fair Value Level 2: 6.125% Senior Unsecured Notes due 2022 $ 500,000 $ 508,125 $ 500,000 $ 503,750 5.875% Senior Unsecured Notes due 2026 350,000 357,770 350,000 326,375 5.625% Senior Unsecured Notes due 2024 550,000 562,375 550,000 515,625 5.375% Senior Unsecured Notes due 2021 600,000 600,378 600,000 598,500 5.125% Senior Unsecured Notes due 2027 400,000 392,000 400,000 353,000 Term Loan A (b) — — 95,892 92,057 Term Loan B 1,335,750 1,315,714 1,342,600 1,275,470 Debt of variable interest entities 23,114 23,114 25,281 25,281 Debt of non-media subsidiaries 18,671 18,671 19,577 19,577 (a) Amounts are carried on our consolidated balance sheets net of debt discount and deferred financing cost, which are excluded in the above table, of $29.6 million and $33.0 million as of June 30, 2019 and December 31, 2018 , respectively. (b) Term Loan A debt was repaid in April 2019. For additional information, see Note 3. Notes Payable and Commercial Bank Financing .

CONDENSED CONSOLIDATING FINAN_2

CONDENSED CONSOLIDATING FINANCIAL STATEMENTS (Tables)	6 Months Ended
	Jun. 30, 2019
Condensed Financial Information Disclosure [Abstract]
Schedule of condensed consolidating balance sheet	CONDENSED CONSOLIDATING BALANCE SHEET AS OF JUNE 30, 2019 (in thousands) (unaudited) Sinclair Sinclair Guarantor Non- Eliminations Sinclair Cash and cash equivalents $ — $ 891,865 $ 2,995 $ 34,178 $ — $ 929,038 Accounts receivable, net — — 538,644 51,308 — 589,952 Other current assets 4,511 12,655 91,021 34,348 (25,895 ) 116,640 Total current assets 4,511 904,520 632,660 119,834 (25,895 ) 1,635,630 Property and equipment, net 723 31,187 612,278 71,960 (16,643 ) 699,505 Investment in consolidated subsidiaries 1,546,563 3,579,483 — — (5,126,046 ) — Goodwill — — 2,120,035 3,867 — 2,123,902 Indefinite-lived intangible assets — — 143,924 14,440 — 158,364 Definite-lived intangible assets, net — — 1,523,633 66,307 (49,457 ) 1,540,483 Other long-term assets 45,396 879,846 297,849 164,460 (991,769 ) 395,782 Total assets $ 1,597,193 $ 5,395,036 $ 5,330,379 $ 440,868 $ (6,209,810 ) $ 6,553,666 Accounts payable and accrued liabilities $ 15,101 $ 90,325 $ 269,371 $ 76,592 $ (26,809 ) $ 424,580 Current portion of long-term debt — 13,700 4,247 7,838 (578 ) 25,207 Other current liabilities 1,052 616 67,945 6,824 — 76,437 Total current liabilities 16,153 104,641 341,563 91,254 (27,387 ) 526,224 Long-term debt — 3,693,460 34,555 365,283 (330,504 ) 3,762,794 Other long-term liabilities 11,925 46,745 1,376,146 173,456 (872,623 ) 735,649 Total liabilities 28,078 3,844,846 1,752,264 629,993 (1,230,514 ) 5,024,667 Total Sinclair Broadcast Group equity (deficit) 1,569,115 1,550,190 3,578,115 (145,440 ) (4,982,865 ) 1,569,115 Noncontrolling interests in consolidated subsidiaries — — — (43,685 ) 3,569 (40,116 ) Total liabilities and equity (deficit) $ 1,597,193 $ 5,395,036 $ 5,330,379 $ 440,868 $ (6,209,810 ) $ 6,553,666 CONDENSED CONSOLIDATING BALANCE SHEET AS OF DECEMBER 31, 2018 (in thousands) Sinclair Sinclair Guarantor Non- Eliminations Sinclair Cash and cash equivalents $ — $ 961,963 $ 19,648 $ 78,719 $ — $ 1,060,330 Accounts receivable, net — — 530,543 68,054 — 598,597 Other current assets 3,235 5,548 103,111 37,157 (24,072 ) 124,979 Total current assets 3,235 967,511 653,302 183,930 (24,072 ) 1,783,906 Property and equipment, net 754 31,773 593,755 70,223 (13,371 ) 683,134 Investment in consolidated subsidiaries 1,604,234 3,654,263 4,179 — (5,262,676 ) — Goodwill — — 2,120,035 3,867 — 2,123,902 Indefinite-lived intangible assets — — 143,924 14,298 — 158,222 Definite-lived intangible assets, net — — 1,608,748 70,409 (52,277 ) 1,626,880 Other long-term assets 31,002 851,170 119,187 165,064 (970,375 ) 196,048 Total assets $ 1,639,225 $ 5,504,717 $ 5,243,130 $ 507,791 $ (6,322,771 ) $ 6,572,092 Accounts payable and accrued liabilities $ 100 $ 78,814 $ 273,444 $ 85,875 $ (25,006 ) $ 413,227 Current portion of long-term debt — 31,135 4,100 7,842 (513 ) 42,564 Other current liabilities — — 107,051 9,743 — 116,794 Total current liabilities 100 109,949 384,595 103,460 (25,519 ) 572,585 Long-term debt — 3,775,489 36,551 381,913 (344,062 ) 3,849,891 Other long-term liabilities 289 40,132 1,169,184 173,197 (833,506 ) 549,296 Total liabilities 389 3,925,570 1,590,330 658,570 (1,203,087 ) 4,971,772 Total Sinclair Broadcast Group equity (deficit) 1,638,836 1,579,147 3,652,800 (107,825 ) (5,124,122 ) 1,638,836 Noncontrolling interests in consolidated subsidiaries — — — (42,954 ) 4,438 (38,516 ) Total liabilities and equity (deficit) $ 1,639,225 $ 5,504,717 $ 5,243,130 $ 507,791 $ (6,322,771 ) $ 6,572,092
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, 2019 (in thousands) (unaudited) Sinclair Sinclair Guarantor Non- Eliminations Sinclair Net revenue $ — $ — $ 704,513 $ 88,710 $ (22,504 ) $ 770,719 Media program and production expenses — — 317,279 32,744 (14,861 ) 335,162 Selling, general and administrative 18,999 32,569 162,019 4,123 (1,300 ) 216,410 Depreciation, amortization and other operating expenses 152 1,328 69,499 46,422 (4,253 ) 113,148 Total operating expenses 19,151 33,897 548,797 83,289 (20,414 ) 664,720 Operating (loss) income (19,151 ) (33,897 ) 155,716 5,421 (2,090 ) 105,999 Equity in earnings of consolidated subsidiaries 57,015 118,038 — — (175,053 ) — Interest expense (163 ) (52,020 ) (889 ) (4,136 ) 3,530 (53,678 ) Other income (expense) 351 4,789 (11,729 ) 278 — (6,311 ) Total other income (expense) 57,203 70,807 (12,618 ) (3,858 ) (171,523 ) (59,989 ) Income tax benefit (provision) 4,245 17,370 (23,902 ) (340 ) — (2,627 ) Net income 42,297 54,280 119,196 1,223 (173,613 ) 43,383 Net income attributable to the noncontrolling interests — — — (1,072 ) (14 ) (1,086 ) Net income attributable to Sinclair Broadcast Group $ 42,297 $ 54,280 $ 119,196 $ 151 $ (173,627 ) $ 42,297 Comprehensive income $ 42,297 $ 54,280 $ 119,196 $ 1,223 $ (173,613 ) $ 43,383 CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME FOR THE THREE MONTHS ENDED JUNE 30, 2018 (in thousands) (unaudited) Sinclair Sinclair Guarantor Non- Eliminations Sinclair Net revenue $ — $ — $ 680,130 $ 71,730 $ (21,717 ) $ 730,143 Media program and production expenses — — 285,940 33,175 (18,257 ) 300,858 Selling, general and administrative 2,874 26,585 147,180 4,352 (512 ) 180,479 Depreciation, amortization and other operating expenses 19 1,134 84,573 33,223 (1,725 ) 117,224 Total operating expenses 2,893 27,719 517,693 70,750 (20,494 ) 598,561 Operating (loss) income (2,893 ) (27,719 ) 162,437 980 (1,223 ) 131,582 Equity in earnings of consolidated subsidiaries 29,345 128,164 (185 ) — (157,324 ) — Interest expense (1 ) (90,635 ) (989 ) (4,643 ) 3,997 (92,271 ) Other income (expense) 642 3,256 (14,345 ) (2,852 ) — (13,299 ) Total other income (expense) 29,986 40,785 (15,519 ) (7,495 ) (153,327 ) (105,570 ) Income tax benefit (provision) 948 22,056 (17,607 ) (2,100 ) — 3,297 Net income (loss) 28,041 35,122 129,311 (8,615 ) (154,550 ) 29,309 Net income attributable to the noncontrolling interests — — — (1,268 ) — (1,268 ) Net income (loss) attributable to Sinclair Broadcast Group $ 28,041 $ 35,122 $ 129,311 $ (9,883 ) $ (154,550 ) $ 28,041 Comprehensive income (loss) $ 28,041 $ 35,122 $ 129,311 $ (8,615 ) $ (154,550 ) $ 29,309 CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME FOR THE SIX MONTHS ENDED JUNE 30, 2019 (in thousands) (unaudited) Sinclair Sinclair Guarantor Non- Eliminations Sinclair Net revenue $ — $ 4 $ 1,360,858 $ 171,903 $ (39,943 ) $ 1,492,822 Media program and production expenses — — 618,722 62,938 (27,454 ) 654,206 Selling, general and administrative 20,986 58,329 318,435 8,832 (2,523 ) 404,059 Depreciation, amortization and other operating expenses 383 2,535 147,691 90,099 (5,748 ) 234,960 Total operating expenses 21,369 60,864 1,084,848 161,869 (35,725 ) 1,293,225 Operating (loss) income (21,369 ) (60,860 ) 276,010 10,034 (4,218 ) 199,597 Equity in earnings of consolidated subsidiaries 80,250 207,320 — — (287,570 ) — Interest expense (163 ) (104,971 ) (1,939 ) (8,592 ) 7,361 (108,304 ) Other income (expense) 723 5,796 (23,398 ) (874 ) — (17,753 ) Total other income (expense) 80,810 108,145 (25,337 ) (9,466 ) (280,209 ) (126,057 ) Income tax benefit (provision) 4,528 29,003 (40,776 ) (141 ) — (7,386 ) Net income 63,969 76,288 209,897 427 (284,427 ) 66,154 Net income attributable to the noncontrolling interests — — — (3,051 ) 866 (2,185 ) Net income (loss) attributable to Sinclair Broadcast Group $ 63,969 $ 76,288 $ 209,897 $ (2,624 ) $ (283,561 ) $ 63,969 Comprehensive income $ 63,969 $ 76,288 $ 209,897 $ 427 $ (284,427 ) $ 66,154 CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME FOR THE SIX MONTHS ENDED JUNE 30, 2018 (in thousands) (unaudited) Sinclair Sinclair Guarantor Non- Eliminations Sinclair Net revenue $ — $ — $ 1,305,814 $ 129,741 $ (40,059 ) $ 1,395,496 Media program and production expenses — — 559,355 65,195 (35,143 ) 589,407 Selling, general and administrative 5,471 48,339 290,481 8,636 (953 ) 351,974 Depreciation, amortization and other operating expenses 38 2,384 90,989 124,231 (2,424 ) 215,218 Total operating expenses 5,509 50,723 940,825 198,062 (38,520 ) 1,156,599 Operating (loss) income (5,509 ) (50,723 ) 364,989 (68,321 ) (1,539 ) 238,897 Equity in earnings of consolidated subsidiaries 74,383 299,934 245 — (374,562 ) — Interest expense (1 ) (158,803 ) (1,961 ) (9,193 ) 7,945 (162,013 ) Other income (expense) 1,323 5,551 (27,706 ) (1,673 ) — (22,505 ) Total other income (expense) 75,705 146,682 (29,422 ) (10,866 ) (366,617 ) (184,518 ) Income tax benefit (provision) 969 37,454 (33,283 ) 13,785 — 18,925 Net income (loss) 71,165 133,413 302,284 (65,402 ) (368,156 ) 73,304 Net income attributable to the noncontrolling interests — — — (2,324 ) 185 (2,139 ) Net income (loss) attributable to Sinclair Broadcast Group $ 71,165 $ 133,413 $ 302,284 $ (67,726 ) $ (367,971 ) $ 71,165 Comprehensive income (loss) $ 71,165 $ 133,413 $ 302,284 $ (65,402 ) $ (368,156 ) $ 73,304
Schedule of condensed consolidating statement of cash flows	CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS FOR THE SIX MONTHS ENDED JUNE 30, 2019 (in thousands) (unaudited) Sinclair Sinclair Guarantor Non- Eliminations Sinclair NET CASH FLOWS (USED IN) FROM OPERATING ACTIVITIES $ (198 ) $ (122,095 ) $ 328,029 $ 22,155 $ (5,200 ) $ 222,691 CASH FLOWS (USED IN) FROM INVESTING ACTIVITIES: Acquisition of property and equipment (8 ) (1,691 ) (63,374 ) (1,476 ) 4,954 (61,595 ) Purchases of investments (2,291 ) (6,005 ) (29,970 ) (5,328 ) — (43,594 ) Distributions from investments — — — 3,026 — 3,026 Spectrum repack reimbursements — — 22,119 — — 22,119 Other, net — (1,041 ) (373 ) 9 — (1,405 ) Net cash flows (used in) from investing activities (2,299 ) (8,737 ) (71,598 ) (3,769 ) 4,954 (81,449 ) CASH FLOWS FROM (USED IN) FINANCING ACTIVITIES: Proceeds from notes payable and commercial bank financing — — — 668 (159 ) 509 Repayments of notes payable, commercial bank financing and finance leases — (102,742 ) (2,015 ) (24,558 ) 20,761 (108,554 ) Dividends paid on Class A and Class B Common Stock (36,765 ) — — — — (36,765 ) Repurchase of outstanding Class A Common Stock (125,034 ) — — — — (125,034 ) Increase (decrease) in intercompany payables 164,061 163,476 (271,069 ) (36,112 ) (20,356 ) — Other, net 235 — — (2,925 ) — (2,690 ) Net cash flows from (used in) financing activities 2,497 60,734 (273,084 ) (62,927 ) 246 (272,534 ) NET DECREASE IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH — (70,098 ) (16,653 ) (44,541 ) — (131,292 ) CASH, CASH EQUIVALENTS, AND RESTRICTED CASH, beginning of period — 961,963 19,648 78,719 — 1,060,330 CASH, CASH EQUIVALENTS, AND RESTRICTED CASH, end of period $ — $ 891,865 $ 2,995 $ 34,178 $ — $ 929,038 CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS FOR THE SIX MONTHS ENDED JUNE 30, 2018 (in thousands) (unaudited) Sinclair Sinclair Guarantor Non- Eliminations Sinclair NET CASH FLOWS (USED IN) FROM OPERATING ACTIVITIES $ (1,196 ) $ (154,476 ) $ 412,837 $ (9,691 ) $ 7,682 $ 255,156 CASH FLOWS FROM (USED IN) INVESTING ACTIVITIES: Acquisition of property and equipment — (4,250 ) (46,803 ) (2,463 ) 1,248 (52,268 ) Purchases of investments (1,735 ) (1,821 ) (13,586 ) (1,454 ) — (18,596 ) Distributions from investments 2,498 — — 11,007 — 13,505 Spectrum repack reimbursements — — 1,542 — — 1,542 Other, net 1,670 (2,731 ) 1,005 — — (56 ) Net cash flows from (used in) investing activities 2,433 (8,802 ) (57,842 ) 7,090 1,248 (55,873 ) CASH FLOWS (USED IN) FROM FINANCING ACTIVITIES: Proceeds from notes payable and commercial bank financing — — — 2,016 — 2,016 Repayments of notes payable, commercial bank financing and finance leases — (132,937 ) (1,715 ) (7,612 ) 187 (142,077 ) Dividends paid on Class A and Class B Common Stock (36,794 ) — — — — (36,794 ) Increase (decrease) in intercompany payables 33,309 606,796 (666,187 ) 35,199 (9,117 ) — Other, net 2,248 — — (4,392 ) — (2,144 ) Net cash flows (used in) from financing activities (1,237 ) 473,859 (667,902 ) 25,211 (8,930 ) (178,999 ) NET INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH — 310,581 (312,907 ) 22,610 — 20,284 CASH, CASH EQUIVALENTS, AND RESTRICTED CASH, beginning of period — 645,830 323,383 26,727 — 995,940 CASH, CASH EQUIVALENTS, AND RESTRICTED CASH, end of period $ — $ 956,411 $ 10,476 $ 49,337 $ — $ 1,016,224

NATURE OF OPERATIONS AND SUMM_4

NATURE OF OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Nature of Operations (Details)	Jun. 30, 2019channelstationmarket
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of television stations owned | station	191
Number of markets | market	89
Number of channels | channel	604

NATURE OF OPERATIONS AND SUMM_5

NATURE OF OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Equity Investments (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Equity investments, net of cumulative impairment	$ 23,000,000		$ 23,000,000		$ 24,500,000
Cumulative impairment	1,600,000		1,600,000
Impairment recorded	$ 0	$ 0	$ 1,600,000	$ 0

NATURE OF OPERATIONS AND SUMM_6

NATURE OF OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Recent Accounting Pronouncements (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Jan. 01, 2019
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating lease liabilities	$ 216,921
Operating lease assets	$ 192,390
Accounting Standards Update 2016-02
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating lease liabilities		$ 215,200
Operating lease assets		$ 196,100

NATURE OF OPERATIONS AND SUMM_7

NATURE OF OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Revenue Recognition, Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Disaggregation of Revenue [Line Items]
Total revenues	$ 770,719	$ 730,143	$ 1,492,822	$ 1,395,496
Broadcast
Disaggregation of Revenue [Line Items]
Total revenues	659,624	642,279	1,278,125	1,238,172
Other
Disaggregation of Revenue [Line Items]
Total revenues	111,095	87,864	214,697	157,324
Advertising revenue
Disaggregation of Revenue [Line Items]
Total revenues	339,104	359,122	647,156	675,450
Advertising revenue | Broadcast
Disaggregation of Revenue [Line Items]
Total revenues	314,520	338,204	602,370	637,116
Advertising revenue | Other
Disaggregation of Revenue [Line Items]
Total revenues	24,584	20,918	44,786	38,334
Distribution revenue
Disaggregation of Revenue [Line Items]
Total revenues	366,657	319,458	718,822	633,818
Distribution revenue | Broadcast
Disaggregation of Revenue [Line Items]
Total revenues	334,746	291,931	654,744	579,056
Distribution revenue | Other
Disaggregation of Revenue [Line Items]
Total revenues	31,911	27,527	64,078	54,762
Other media and non-media revenues
Disaggregation of Revenue [Line Items]
Total revenues	64,958	51,563	126,844	86,228
Other media and non-media revenues | Broadcast
Disaggregation of Revenue [Line Items]
Total revenues	10,358	12,144	21,011	22,000
Other media and non-media revenues | Other
Disaggregation of Revenue [Line Items]
Total revenues	$ 54,600	$ 39,419	$ 105,833	$ 64,228

NATURE OF OPERATIONS AND SUMM_8

NATURE OF OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Revenue Recognition, Narrative (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Deferred revenue	$ 67.8		$ 83.3
Deferred revenue, revenue recognized	$ 56	$ 21.5

NATURE OF OPERATIONS AND SUMM_9

NATURE OF OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Federal tax credits related to investments in sustainability initiatives	$ 8.3	$ 5.2	$ 13	$ 6.3
State benefit related to change in apportionment estimates		$ 4.2
Tax benefit from sale of spectrum				$ 17.7

NATURE OF OPERATIONS AND SUM_10

NATURE OF OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Share Repurchase Program (Details) - USD ($) shares in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2019	Aug. 09, 2018	Sep. 06, 2016
Class of Stock [Line Items]
Stock repurchase program, authorized amount				$ 150,000,000
Stock repurchase program, additional authorized repurchase amount			$ 1,000,000,000
Stock repurchase program, remaining authorized repurchase amount	$ 743,000,000	$ 743,000,000
Class A Common Stock
Class of Stock [Line Items]
Treasury stock, shares acquired (in shares)	0.5	4
Treasury stock, value acquired	$ 20,000,000	$ 125,000,000

NATURE OF OPERATIONS AND SUM_11

NATURE OF OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Subsequent Events (Details) - USD ($)	Aug. 13, 2019	Aug. 08, 2019	Aug. 02, 2019	Jun. 30, 2019
Subsequent Event
Subsequent Event [Line Items]
Dividends declared per share (USD per share)		$ 0.20
Forecast | 5.375% Senior Unsecured Notes due 2021
Subsequent Event [Line Items]
Repayments of debt	$ 600,000,000
Interest rate (as a percent)	5.375%
Senior Notes | 5.375% Senior Unsecured Notes due 2021
Subsequent Event [Line Items]
Interest rate (as a percent)				5.375%
Senior Notes | Diamond 5.375% Secured Notes | Subsequent Event
Subsequent Event [Line Items]
Interest rate (as a percent)			5.375%
Debt issued			$ 3,050,000,000
Senior Notes | Diamond 6.625% Notes | Subsequent Event
Subsequent Event [Line Items]
Interest rate (as a percent)			6.625%
Debt issued			$ 1,825,000,000
Senior Notes | Forecast | 5.375% Senior Unsecured Notes due 2021
Subsequent Event [Line Items]
Repayments of debt	$ 600,000,000
Interest rate (as a percent)	5.375%

ACQUISITIONS AND DISPOSITIONS_2

ACQUISITIONS AND DISPOSITIONS OF ASSETS - Narrative (Details)	Aug. 02, 2019USD ($)	May 31, 2019USD ($)brandregional_sport_network	Sep. 30, 2019USD ($)	Jun. 30, 2019USD ($)	Jun. 30, 2018USD ($)	Jun. 30, 2019USD ($)station	Jun. 30, 2018USD ($)	Aug. 09, 2019USD ($)
Business Acquisition [Line Items]
Gain on asset dispositions, net of impairment				$ 13,988,000	$ 4,741,000	$ 21,897,000	$ 25,850,000
Number of stations assigned new channels | station						100
Broadcast incentive auction, total legislation funds to reimburse stations						$ 2,750,000,000
Broadcast incentive auction, gain recognized on sale				14,100,000	700,000	22,100,000	1,500,000
Broadcast incentive auction, total capital expenditure				$ 12,000,000	8,300,000	$ 24,800,000	11,700,000
Spectrum Auction
Business Acquisition [Line Items]
Gain on asset dispositions, net of impairment							83,300,000
RSNs
Business Acquisition [Line Items]
Number of regional sports networks | regional_sport_network		14
Number of brands | brand		21
Purchase price		$ 9,600,000,000
Tribune Media Company
Business Acquisition [Line Items]
Acquisition related costs					44,500,000		66,200,000
Tribune Media Company | General and Administrative Expense
Business Acquisition [Line Items]
Acquisition related costs					5,200,000		9,900,000
Tribune Media Company | Interest Expense
Business Acquisition [Line Items]
Acquisition related costs					$ 39,300,000		$ 56,300,000
Subsequent Event | Diamond Notes | RSNs
Business Acquisition [Line Items]
Fully committed secured and unsecured debt	$ 4,900,000,000
Forecast | RSNs
Business Acquisition [Line Items]
Cash equity			$ 1,400,000,000
Cash equity, cash on hand			700,000,000
Full committed privately-placed preferred equity			$ 1,000,000,000
Forecast | STG Term Loan Facility | RSNs
Business Acquisition [Line Items]
Maximum borrowing capacity								$ 700,000,000
Forecast | Diamond Term Loan Facility | RSNs
Business Acquisition [Line Items]
Maximum borrowing capacity								$ 3,300,000,000

NOTES PAYABLE AND COMMERCIAL _2

NOTES PAYABLE AND COMMERCIAL BANK FINANCING - Notes Payable and Finance Leases to Affiliates, Debt of VIEs and Guarantees of Third-Party Debt, and STG Term Loan A (Details) - USD ($) $ in Thousands	Apr. 30, 2019	Jun. 30, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
Current portion of notes payable, finance leases and commercial bank financing		$ 25,207	$ 42,564
Notes payable, finance leases and commercial bank financing, less current portion		3,762,794	3,849,891
Consolidated total debt		3,788,000
Affiliated Entity
Debt Instrument [Line Items]
Current portion of notes payable, finance leases and commercial bank financing		2,100	1,900
Notes payable, finance leases and commercial bank financing, less current portion		9,600	10,600
Consolidated VIEs, aggregated
Debt Instrument [Line Items]
Notes payable, finance leases and commercial bank financing, less current portion		17,085	19,278
Consolidated total debt		22,300	24,400
Guarantee Obligations
Debt Instrument [Line Items]
Unconditional and irrevocably guaranteed debt		$ 72,700	$ 76,500
Term Loan | Term Loan A-2
Debt Instrument [Line Items]
Repayment of remaining principal balance	$ 91,500

NOTES PAYABLE AND COMMERCIAL _3

NOTES PAYABLE AND COMMERCIAL BANK FINANCING - STG Senior Unsecured Notes and RSN Debt Financing (Details) - USD ($)	Aug. 13, 2019	Aug. 02, 2019	Sep. 30, 2019	Aug. 09, 2019	Jun. 30, 2019
Senior Notes | 5.375% Senior Unsecured Notes due 2021
Debt Instrument [Line Items]
Interest rate (as a percent)					5.375%
Senior Notes | Subsequent Event | Diamond Notes | Prior to February 3, 2020
Debt Instrument [Line Items]
Redemption price, percent		100.00%
Senior Notes | Subsequent Event | Diamond Notes | Prior to August 15, 2022
Debt Instrument [Line Items]
Redemption price, percent		100.00%
Redemption price, percentage of principal amount redeemed		40.00%
Senior Notes | Subsequent Event | Diamond 5.375% Secured Notes
Debt Instrument [Line Items]
Interest rate (as a percent)		5.375%
Senior Notes | Subsequent Event | Diamond 5.375% Secured Notes | August 15, 2022 to August 14, 2023
Debt Instrument [Line Items]
Redemption price, percent		102.688%
Senior Notes | Subsequent Event | Diamond 5.375% Secured Notes | August 15, 2023 to August 14, 2024
Debt Instrument [Line Items]
Redemption price, percent		101.344%
Senior Notes | Subsequent Event | Diamond 5.375% Secured Notes | August 15, 2024 and Thereafter
Debt Instrument [Line Items]
Redemption price, percent		100.00%
Senior Notes | Subsequent Event | Diamond 6.625% Notes
Debt Instrument [Line Items]
Interest rate (as a percent)		6.625%
Senior Notes | Subsequent Event | Diamond 6.625% Notes | August 15, 2022 to August 14, 2023
Debt Instrument [Line Items]
Redemption price, percent		103.313%
Senior Notes | Subsequent Event | Diamond 6.625% Notes | August 15, 2023 to August 14, 2024
Debt Instrument [Line Items]
Redemption price, percent		101.656%
Senior Notes | Subsequent Event | Diamond 6.625% Notes | August 15, 2024 and Thereafter
Debt Instrument [Line Items]
Redemption price, percent		100.00%
Forecast | 5.375% Senior Unsecured Notes due 2021
Debt Instrument [Line Items]
Repayments of debt	$ 600,000,000
Interest rate (as a percent)	5.375%
Forecast | RSNs
Debt Instrument [Line Items]
Full committed privately-placed preferred equity			$ 1,000,000,000
Forecast | STG Term Loan Facility | RSNs
Debt Instrument [Line Items]
Debt term			7 years
Maximum borrowing capacity				$ 700,000,000
Forecast | STG Term Loan Facility | RSNs | LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate			2.50%
Forecast | Diamond Term Loan Facility | RSNs
Debt Instrument [Line Items]
Debt term			7 years
Maximum borrowing capacity				3,300,000,000
Forecast | Diamond Term Loan Facility | RSNs | LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate			3.25%
Forecast | STG Revolving Credit Facility | RSNs
Debt Instrument [Line Items]
Debt term			5 years
Maximum borrowing capacity				650,000,000
Forecast | STG Revolving Credit Facility | RSNs | LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate			2.00%
Forecast | Diamond Revolving Credit Facility | RSNs
Debt Instrument [Line Items]
Debt term			5 years
Maximum borrowing capacity				$ 650,000,000
Forecast | Diamond Revolving Credit Facility | RSNs | LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate			3.00%
Forecast | Senior Notes | 5.375% Senior Unsecured Notes due 2021
Debt Instrument [Line Items]
Repayments of debt	$ 600,000,000
Interest rate (as a percent)	5.375%
Redemption price, percent	100.00%
Forecast | Term Loan | Term Loan B
Debt Instrument [Line Items]
Debt term	7 years
Proceeds from issuance of debt	$ 600,000,000

LEASES - Schedule of Lease Expe

LEASES - Schedule of Lease Expense (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2019
Leases [Abstract]
Amortization of finance lease asset	$ 775	$ 1,494
Interest on lease liabilities	1,063	1,977
Total finance lease expense	1,838	3,471
Operating lease expense	10,217	20,155
Total lease expense	12,055	23,626
Variable lease expense	1,200	2,300
Short term lease expense	$ 200	$ 500

LEASES - Schedule of Outstandin

LEASES - Schedule of Outstanding Operating and Finance Obligations (Details) $ in Thousands	Jun. 30, 2019USD ($)
Operating Leases
2019	$ 16,975
2020	31,711
2021	29,688
2022	27,174
2023	25,786
Thereafter	168,856
Total undiscounted obligations	300,190
Less imputed interest	(83,269)
Present value of lease obligations	216,921
Finance Leases
2019	4,042
2020	7,938
2021	7,908
2022	7,166
2023	7,138
Thereafter	21,217
Total undiscounted obligations	55,409
Less imputed interest	(15,393)
Present value of lease obligations	40,016
Total
2019	21,017
2020	39,649
2021	37,596
2022	34,340
2023	32,924
Thereafter	190,073
Total undiscounted obligations	355,599
Less imputed interest	(98,662)
Present value of lease obligations	$ 256,937

LEASES - Schedule of Future Min

LEASES - Schedule of Future Minimum Lease Payments Under Operating Leases (Details) $ in Thousands	Dec. 31, 2018USD ($)
Leases [Abstract]
2019	$ 32,108
2020	31,287
2021	29,547
2022	26,702
2023	24,325
2024 and thereafter	157,816
Total	$ 301,785

LEASES - Supplemental Balance S

LEASES - Supplemental Balance Sheet Information (Details) $ in Thousands	Jun. 30, 2019USD ($)
Operating Leases
Lease assets, non-current	$ 192,390
Lease liabilities, current	22,662
Lease liabilities, non-current	194,259
Total lease liabilities	$ 216,921
Weighted average remaining lease term (in years)	10 years 11 months 8 days
Weighted average discount rate	5.80%
Finance Leases
Lease assets, non-current	$ 16,130
Lease liabilities, current	4,605
Lease liabilities, non-current	35,411
Total lease liabilities	$ 40,016
Weighted average remaining lease term (in years)	7 years 6 months 18 days
Weighted average discount rate	9.00%

LEASES - Cash Flow Information

LEASES - Cash Flow Information Related to Lease (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2019USD ($)
Leases [Abstract]
Operating cash flows from operating leases	$ 15,379
Operating cash flows from finance leases	1,965
Financing cash flows from finance leases	2,228
Leased assets obtained in exchange for new lease liabilities	$ 9,969

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details) $ in Millions	Aug. 08, 2019lawsuit	Aug. 09, 2018USD ($)	Dec. 21, 2017USD ($)	Oct. 03, 2018lawsuit
Various Cases Alleging Violation Of Sherman Antitrust Act
COMMITMENTS AND CONTINGENCIES
Loss contingency, number of other broadcasters | lawsuit				8
Breach Of Merger Agreement
COMMITMENTS AND CONTINGENCIES
Proposed fine | $		$ 1,000
Unfavorable Regulatory Action
COMMITMENTS AND CONTINGENCIES
Proposed fine | $			$ 13.4
Subsequent Event | Various Cases Alleging Violation Of Sherman Antitrust Act
COMMITMENTS AND CONTINGENCIES
Loss contingency, new claims filed, number (lawsuit) | lawsuit	22

EARNINGS PER SHARE - Schedule o

EARNINGS PER SHARE - Schedule of Earnings per Share (Details) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Income (Numerator)
Net income	$ 43,383	$ 29,309	$ 66,154	$ 73,304
Net income attributable to noncontrolling interests	(1,086)	(1,268)	(2,185)	(2,139)
Numerator for basic and diluted earnings per common share available to common shareholders	$ 42,297	$ 28,041	$ 63,969	$ 71,165
Shares (Denominator)
Weighted average common shares outstanding (shares)	91,764	102,224	92,032	102,062
Dilutive effect of stock-settled appreciation rights and outstanding stock options (shares)	1,399	762	1,157	890
Weighted average common and common equivalent shares outstanding (shares)	93,163	102,986	93,189	102,952

EARNINGS PER SHARE - Summary of

EARNINGS PER SHARE - Summary of Antidilutive Securities (Details) - shares shares in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Earnings Per Share [Abstract]
Weighted-average stock-settled appreciation rights and outstanding stock options excluded (in shares)	0	1,600	475	1,050

SEGMENT DATA (Narrative) (Detai

SEGMENT DATA (Narrative) (Details) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2019USD ($)market	Jun. 30, 2018USD ($)	Jun. 30, 2019USD ($)market	Jun. 30, 2018USD ($)
Segment data
Number of markets	89		89
Intercompany interest expense | $	$ 3.4	$ 3.8	$ 7.1	$ 7.6
Operating segments | Broadcast
Segment data
Number of markets	89		89

SEGMENT DATA (Schedule of Segme

SEGMENT DATA (Schedule of Segment Information) (Details) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018
Segment data
Assets	[1]	$ 6,553,666		$ 6,553,666		$ 6,572,092
Revenue		770,719	$ 730,143	1,492,822	$ 1,395,496
Depreciation of property and equipment and amortization of definite-lived intangibles and other assets		65,842	66,234	132,326	137,164
Amortization of program contract costs and net realizable value adjustments		22,084	24,710	46,021	51,660
Corporate general and administrative expenses		51,655	29,685	79,381	54,281
(Gain) loss on asset dispositions and other, net of impairment		(13,988)	(4,741)	(21,897)	(25,850)
Operating income (loss)		105,999	131,582	199,597	238,897
Interest expense		53,678	92,271	108,304	162,013
(Loss) income from equity method investments		(11,844)	(17,690)	(25,481)	(30,277)
Broadcast
Segment data
Revenue		659,624	642,279	1,278,125	1,238,172
Other
Segment data
Revenue		111,095	87,864	214,697	157,324
Operating segments | Broadcast
Segment data
Assets		4,828,998		4,828,998
Revenue		659,624	642,279	1,278,125	1,238,172
Depreciation of property and equipment and amortization of definite-lived intangibles and other assets		59,504	58,964	122,185	122,833
Amortization of program contract costs and net realizable value adjustments		22,084	24,710	46,021	51,660
Corporate general and administrative expenses		32,569	26,590	58,329	48,334
(Gain) loss on asset dispositions and other, net of impairment		(14,122)	(1,301)	(22,142)	(85,400)
Operating income (loss)		134,918	140,607	230,145	316,774
Interest expense		1,300	1,438	2,783	2,809
(Loss) income from equity method investments		0	0	0	0
Operating segments | Other
Segment data
Assets		726,311		726,311
Revenue		111,095	87,864	214,697	157,324
Depreciation of property and equipment and amortization of definite-lived intangibles and other assets		6,319	7,251	10,103	14,293
Amortization of program contract costs and net realizable value adjustments		0	0	0	0
Corporate general and administrative expenses		263	221	420	476
(Gain) loss on asset dispositions and other, net of impairment		134	(3,440)	347	59,550
Operating income (loss)		(10,077)	(6,132)	(9,980)	(72,368)
Interest expense		195	198	387	400
(Loss) income from equity method investments		(11,929)	(17,256)	(25,881)	(31,617)
Corporate
Segment data
Assets		998,357		998,357
Revenue		0	0	0	0
Depreciation of property and equipment and amortization of definite-lived intangibles and other assets		19	19	38	38
Amortization of program contract costs and net realizable value adjustments		0	0	0	0
Corporate general and administrative expenses		18,823	2,874	20,632	5,471
(Gain) loss on asset dispositions and other, net of impairment		0	0	(102)	0
Operating income (loss)		(18,842)	(2,893)	(20,568)	(5,509)
Interest expense		52,183	90,635	105,134	158,804
(Loss) income from equity method investments		$ 85	$ (434)	$ 400	1,340
Spectrum Auction
Segment data
(Gain) loss on asset dispositions and other, net of impairment					(83,300)
Consolidated Real Estate Development Project | Operating segments | Other
Segment data
Asset impairment charges					$ 59,600
[1]	Our consolidated total assets as of June 30, 2019 and December 31, 2018 include total assets of variable interest entities (VIEs) of $121.4 million and $127.6 million , respectively, which can only be used to settle the obligations of the VIEs. Our consolidated total liabilities as of June 30, 2019 and December 31, 2018 include total liabilities of VIEs of $15.2 million and $22.3 million , respectively, for which the creditors of the VIEs have no recourse to us. See Note 8. Variable Interest Entities .

VARIABLE INTEREST ENTITIES - Na

VARIABLE INTEREST ENTITIES - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018
Consolidated VIEs, aggregated
Variable Interest Entity [Line Items]
Variable interest entities outsourcing agreement initial term			5 years
VIEs which are not primary beneficiary
Variable Interest Entity [Line Items]
Carrying amount	$ 72.7		$ 72.7		$ 71.3
(Loss) income from equity method investments	(11.5)	$ (14.5)	(24.6)	$ (23.5)
Eliminations | Consolidated VIEs
Variable Interest Entity [Line Items]
Liabilities associated with the certain outsourcing agreements and purchase options	$ 125.9		$ 125.9		$ 124.5

VARIABLE INTEREST ENTITIES - Sc

VARIABLE INTEREST ENTITIES - Schedule of Variable Interest Entities Assets and Liabilities (Details) - USD ($) $ in Thousands		Jun. 30, 2019	Dec. 31, 2018
Current assets:
Cash and cash equivalents		$ 929,038	$ 1,060,330
Accounts receivable, net		589,952	598,597
Other current assets		86,574	60,732
Total current assets		1,635,630	1,783,906
Program contract costs, less current portion		7,524	11,217
Property and equipment, net		699,505	683,134
Definite-lived intangible assets, net		1,540,483	1,626,880
Total assets	[1]	6,553,666	6,572,092
Current liabilities:
Other current liabilities		76,437	116,794
Notes payable, finance leases and commercial bank financing, less current portion		3,762,794	3,849,891
Program contracts payable, less current portion		40,894	50,060
Other long-term liabilities		84,917	85,983
Total liabilities	[1]	5,024,667	4,971,772
Consolidated VIEs, aggregated
Current assets:
Cash and cash equivalents		10,000	0
Accounts receivable, net		17,255	28,276
Other current assets		2,738	6,773
Total current assets		29,993	35,049
Program contract costs, less current portion		1,393	2,058
Property and equipment, net		8,407	5,346
Goodwill and indefinite-lived intangible assets		15,064	15,064
Definite-lived intangible assets, net		64,217	67,680
Other assets		2,362	2,374
Total assets		121,436	127,571
Current liabilities:
Other current liabilities		12,895	18,298
Notes payable, finance leases and commercial bank financing, less current portion		17,085	19,278
Program contracts payable, less current portion		6,917	8,474
Other long-term liabilities		650	650
Total liabilities		$ 37,547	$ 46,700
[1]	Our consolidated total assets as of June 30, 2019 and December 31, 2018 include total assets of variable interest entities (VIEs) of $121.4 million and $127.6 million , respectively, which can only be used to settle the obligations of the VIEs. Our consolidated total liabilities as of June 30, 2019 and December 31, 2018 include total liabilities of VIEs of $15.2 million and $22.3 million , respectively, for which the creditors of the VIEs have no recourse to us. See Note 8. Variable Interest Entities .

RELATED PERSON TRANSACTIONS - T

RELATED PERSON TRANSACTIONS - Transactions with our Controlling Shareholders (Details) - Entities owned by the controlling shareholders - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Lease Services
Related Party Transaction [Line Items]
Lease payments made to entities	$ 1.3	$ 1.3	$ 2.2	$ 2.7
Charter Aircraft | Maximum
Related Party Transaction [Line Items]
Aircraft expenses	$ 0.5	$ 0.4	$ 1	$ 0.8

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 ($)	Apr. 30, 2016USD ($)	Jun. 30, 2019USD ($)	Jun. 30, 2018USD ($)	Jun. 30, 2019USD ($)renewal	Jun. 30, 2018USD ($)	Dec. 31, 2018USD ($)
Related Party Transaction [Line Items]
Consolidated total debt			$ 3,788,000		$ 3,788,000
Total revenues			$ 770,719	$ 730,143	1,492,822	$ 1,395,496
Repayments of debt					$ 108,554	142,077
Affiliated Entity | Cunningham
Related Party Transaction [Line Items]
Right to acquire capital stock			100.00%		100.00%
Total payments made under the LMA excluded from liabilities			$ 49,200		$ 49,200		$ 47,400
Remaining purchase price			53,600		53,600		53,600
Purchase options, broadcast stations			200		$ 200
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			$ 2,200	2,100	$ 4,200	4,700
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			$ 5,000		$ 5,000
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
Total revenues			$ 38,500	$ 38,800	$ 73,000	$ 76,300
Guarantee Obligations
Related Party Transaction [Line Items]
Unconditional and irrevocably guaranteed debt			72,700		72,700		$ 76,500
Guarantee Obligations | Affiliated Entity | Cunningham
Related Party Transaction [Line Items]
Unconditional and irrevocably guaranteed debt			48,000		48,000
Consolidated VIEs | Affiliated Entity | Cunningham
Related Party Transaction [Line Items]
Consolidated total debt			9,500		9,500
Deferred financing costs			$ 600		$ 600

RELATED PERSON TRANSACTIONS - A

RELATED PERSON TRANSACTIONS - Atlantic Automotive Corporation (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Maximum | Atlantic Automotive Corporation | Advertising time | Affiliated Entity
Related Party Transaction [Line Items]
Amount received (less than)	$ 0.1	$ 0.1	$ 0.1	$ 0.1

RELATED PERSON TRANSACTIONS - L

RELATED PERSON TRANSACTIONS - Leased Property by Real Estate Ventures (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Entities owned by the controlling shareholders | Lease Services
Related Party Transaction [Line Items]
Amount received	$ 0.2	$ 0.1	$ 0.4	$ 0.2

RELATED PERSON TRANSACTIONS - O

RELATED PERSON TRANSACTIONS - Other Transactions with Equity Method Investees (Details) - 120 Sports Holding, LLC $ in Thousands	6 Months Ended
	Jun. 30, 2019USD ($)
Related Party Transaction [Line Items]
Note receivable	$ 6,250
Fixed interest rate	12.00%

FAIR VALUE MEASUREMENTS (Detail

FAIR VALUE MEASUREMENTS (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
FAIR VALUE MEASUREMENTS:
Debt discount and deferred financing costs	$ 29,600	$ 33,000
Level 2 | Carrying Value | Debt of variable interest entities
FAIR VALUE MEASUREMENTS:
Debt fair value disclosure	23,114	25,281
Level 2 | Carrying Value | Debt of non-media subsidiaries
FAIR VALUE MEASUREMENTS:
Debt fair value disclosure	18,671	19,577
Level 2 | Fair Value | Debt of variable interest entities
FAIR VALUE MEASUREMENTS:
Debt fair value disclosure	23,114	25,281
Level 2 | Fair Value | Debt of non-media subsidiaries
FAIR VALUE MEASUREMENTS:
Debt fair value disclosure	$ 18,671	19,577
Senior Notes | 6.125% Senior Unsecured Notes due 2022
FAIR VALUE MEASUREMENTS:
Interest rate (as a percent)	6.125%
Senior Notes | 5.875% Senior Unsecured Notes due 2026
FAIR VALUE MEASUREMENTS:
Interest rate (as a percent)	5.875%
Senior Notes | 5.625% Senior Unsecured Notes due 2024
FAIR VALUE MEASUREMENTS:
Interest rate (as a percent)	5.625%
Senior Notes | 5.375% Senior Unsecured Notes due 2021
FAIR VALUE MEASUREMENTS:
Interest rate (as a percent)	5.375%
Senior Notes | 5.125% Senior Unsecured Notes due 2027
FAIR VALUE MEASUREMENTS:
Interest rate (as a percent)	5.125%
Senior Notes | Level 2 | Carrying Value | 6.125% Senior Unsecured Notes due 2022
FAIR VALUE MEASUREMENTS:
Debt fair value disclosure	$ 500,000	500,000
Senior Notes | Level 2 | Carrying Value | 5.875% Senior Unsecured Notes due 2026
FAIR VALUE MEASUREMENTS:
Debt fair value disclosure	350,000	350,000
Senior Notes | Level 2 | Carrying Value | 5.625% Senior Unsecured Notes due 2024
FAIR VALUE MEASUREMENTS:
Debt fair value disclosure	550,000	550,000
Senior Notes | Level 2 | Carrying Value | 5.375% Senior Unsecured Notes due 2021
FAIR VALUE MEASUREMENTS:
Debt fair value disclosure	600,000	600,000
Senior Notes | Level 2 | Carrying Value | 5.125% Senior Unsecured Notes due 2027
FAIR VALUE MEASUREMENTS:
Debt fair value disclosure	400,000	400,000
Senior Notes | Level 2 | Fair Value | 6.125% Senior Unsecured Notes due 2022
FAIR VALUE MEASUREMENTS:
Debt fair value disclosure	508,125	503,750
Senior Notes | Level 2 | Fair Value | 5.875% Senior Unsecured Notes due 2026
FAIR VALUE MEASUREMENTS:
Debt fair value disclosure	357,770	326,375
Senior Notes | Level 2 | Fair Value | 5.625% Senior Unsecured Notes due 2024
FAIR VALUE MEASUREMENTS:
Debt fair value disclosure	562,375	515,625
Senior Notes | Level 2 | Fair Value | 5.375% Senior Unsecured Notes due 2021
FAIR VALUE MEASUREMENTS:
Debt fair value disclosure	600,378	598,500
Senior Notes | Level 2 | Fair Value | 5.125% Senior Unsecured Notes due 2027
FAIR VALUE MEASUREMENTS:
Debt fair value disclosure	392,000	353,000
Term Loan | Level 2 | Carrying Value | Term Loan A
FAIR VALUE MEASUREMENTS:
Debt fair value disclosure	0	95,892
Term Loan | Level 2 | Carrying Value | Term Loan B
FAIR VALUE MEASUREMENTS:
Debt fair value disclosure	1,335,750	1,342,600
Term Loan | Level 2 | Fair Value | Term Loan A
FAIR VALUE MEASUREMENTS:
Debt fair value disclosure	0	92,057
Term Loan | Level 2 | Fair Value | Term Loan B
FAIR VALUE MEASUREMENTS:
Debt fair value disclosure	$ 1,315,714	$ 1,275,470

CONDENSED CONSOLIDATING FINAN_3

CONDENSED CONSOLIDATING FINANCIAL STATEMENTS - Narrative (Details) $ in Millions	Jun. 30, 2019USD ($)
Debt Instrument [Line Items]
Consolidated total debt	$ 3,788
Subsidiary Issuer
Debt Instrument [Line Items]
Consolidated total debt	3,769.4
Amount of debt guaranteed by parent	$ 3,729.5
5.375% Senior Unsecured Notes due 2021 | Senior Notes
Debt Instrument [Line Items]
Interest rate (as a percent)	5.375%
5.375% Senior Unsecured Notes due 2021 | Sinclair Television Group, Inc. | Senior Notes
Debt Instrument [Line Items]
Interest rate (as a percent)	5.375%
5.375% Senior Unsecured Notes due 2021 | Guarantor Subsidiaries and KDSM, LLC | Senior Notes
Debt Instrument [Line Items]
Interest rate (as a percent)	5.375%
5.625% Senior Unsecured Notes Due 2021 | Sinclair Television Group, Inc. | Senior Notes
Debt Instrument [Line Items]
Interest rate (as a percent)	5.625%
6.125% Senior Unsecured Notes due 2022 | Senior Notes
Debt Instrument [Line Items]
Interest rate (as a percent)	6.125%
6.125% Senior Unsecured Notes due 2022 | Sinclair Television Group, Inc. | Senior Notes
Debt Instrument [Line Items]
Interest rate (as a percent)	6.125%
6.125% Senior Unsecured Notes due 2022 | Guarantor Subsidiaries and KDSM, LLC | Senior Notes
Debt Instrument [Line Items]
Interest rate (as a percent)	6.125%
5.875% Senior Unsecured Notes due 2026 | Senior Notes
Debt Instrument [Line Items]
Interest rate (as a percent)	5.875%
5.875% Senior Unsecured Notes due 2026 | Sinclair Television Group, Inc. | Senior Notes
Debt Instrument [Line Items]
Interest rate (as a percent)	5.875%
5.875% Senior Unsecured Notes due 2026 | Guarantor Subsidiaries and KDSM, LLC | Senior Notes
Debt Instrument [Line Items]
Interest rate (as a percent)	5.875%
5.125% Senior Unsecured Notes due 2027 | Senior Notes
Debt Instrument [Line Items]
Interest rate (as a percent)	5.125%
5.125% Senior Unsecured Notes due 2027 | Sinclair Television Group, Inc. | Senior Notes
Debt Instrument [Line Items]
Interest rate (as a percent)	5.125%
5.125% Senior Unsecured Notes due 2027 | Guarantor Subsidiaries and KDSM, LLC | Senior Notes
Debt Instrument [Line Items]
Interest rate (as a percent)	5.125%
5.625% Senior Unsecured Notes due 2024 | Senior Notes
Debt Instrument [Line Items]
Interest rate (as a percent)	5.625%
5.625% Senior Unsecured Notes due 2024 | Guarantor Subsidiaries and KDSM, LLC | Senior Notes
Debt Instrument [Line Items]
Interest rate (as a percent)	5.625%

CONDENSED CONSOLIDATING FINAN_4

CONDENSED CONSOLIDATING FINANCIAL STATEMENTS - Balance Sheet (Details) - USD ($) $ in Thousands		Jun. 30, 2019	Dec. 31, 2018
CONDENSED CONSOLIDATING BALANCE SHEET
Cash and cash equivalents		$ 929,038	$ 1,060,330
Accounts receivable, net		589,952	598,597
Other current assets		116,640	124,979
Total current assets		1,635,630	1,783,906
Property and equipment, net		699,505	683,134
Investment in consolidated subsidiaries		0	0
Goodwill		2,123,902	2,123,902
Indefinite-lived intangible assets		158,364	158,222
Definite-lived intangible assets, net		1,540,483	1,626,880
Other long-term assets		395,782	196,048
Total assets	[1]	6,553,666	6,572,092
Accounts payable and accrued liabilities		424,580	413,227
Current portion of long-term debt		25,207	42,564
Other current liabilities		76,437	116,794
Total current liabilities		526,224	572,585
Long-term debt		3,762,794	3,849,891
Other long-term liabilities		735,649	549,296
Total liabilities	[1]	5,024,667	4,971,772
Total Sinclair Broadcast Group equity (deficit)		1,569,115	1,638,836
Noncontrolling interests in consolidated subsidiaries		(40,116)	(38,516)
Total liabilities and equity		6,553,666	6,572,092
Reportable legal entities | Sinclair Broadcast Group, Inc.
CONDENSED CONSOLIDATING BALANCE SHEET
Cash and cash equivalents		0	0
Accounts receivable, net		0	0
Other current assets		4,511	3,235
Total current assets		4,511	3,235
Property and equipment, net		723	754
Investment in consolidated subsidiaries		1,546,563	1,604,234
Goodwill		0	0
Indefinite-lived intangible assets		0	0
Definite-lived intangible assets, net		0	0
Other long-term assets		45,396	31,002
Total assets		1,597,193	1,639,225
Accounts payable and accrued liabilities		15,101	100
Current portion of long-term debt		0	0
Other current liabilities		1,052	0
Total current liabilities		16,153	100
Long-term debt		0	0
Other long-term liabilities		11,925	289
Total liabilities		28,078	389
Total Sinclair Broadcast Group equity (deficit)		1,569,115	1,638,836
Noncontrolling interests in consolidated subsidiaries		0	0
Total liabilities and equity		1,597,193	1,639,225
Reportable legal entities | Sinclair Television Group, Inc.
CONDENSED CONSOLIDATING BALANCE SHEET
Cash and cash equivalents		891,865	961,963
Accounts receivable, net		0	0
Other current assets		12,655	5,548
Total current assets		904,520	967,511
Property and equipment, net		31,187	31,773
Investment in consolidated subsidiaries		3,579,483	3,654,263
Goodwill		0	0
Indefinite-lived intangible assets		0	0
Definite-lived intangible assets, net		0	0
Other long-term assets		879,846	851,170
Total assets		5,395,036	5,504,717
Accounts payable and accrued liabilities		90,325	78,814
Current portion of long-term debt		13,700	31,135
Other current liabilities		616	0
Total current liabilities		104,641	109,949
Long-term debt		3,693,460	3,775,489
Other long-term liabilities		46,745	40,132
Total liabilities		3,844,846	3,925,570
Total Sinclair Broadcast Group equity (deficit)		1,550,190	1,579,147
Noncontrolling interests in consolidated subsidiaries		0	0
Total liabilities and equity		5,395,036	5,504,717
Reportable legal entities | Guarantor Subsidiaries and KDSM, LLC
CONDENSED CONSOLIDATING BALANCE SHEET
Cash and cash equivalents		2,995	19,648
Accounts receivable, net		538,644	530,543
Other current assets		91,021	103,111
Total current assets		632,660	653,302
Property and equipment, net		612,278	593,755
Investment in consolidated subsidiaries		0	4,179
Goodwill		2,120,035	2,120,035
Indefinite-lived intangible assets		143,924	143,924
Definite-lived intangible assets, net		1,523,633	1,608,748
Other long-term assets		297,849	119,187
Total assets		5,330,379	5,243,130
Accounts payable and accrued liabilities		269,371	273,444
Current portion of long-term debt		4,247	4,100
Other current liabilities		67,945	107,051
Total current liabilities		341,563	384,595
Long-term debt		34,555	36,551
Other long-term liabilities		1,376,146	1,169,184
Total liabilities		1,752,264	1,590,330
Total Sinclair Broadcast Group equity (deficit)		3,578,115	3,652,800
Noncontrolling interests in consolidated subsidiaries		0	0
Total liabilities and equity		5,330,379	5,243,130
Reportable legal entities | Non- Guarantor Subsidiaries
CONDENSED CONSOLIDATING BALANCE SHEET
Cash and cash equivalents		34,178	78,719
Accounts receivable, net		51,308	68,054
Other current assets		34,348	37,157
Total current assets		119,834	183,930
Property and equipment, net		71,960	70,223
Investment in consolidated subsidiaries		0	0
Goodwill		3,867	3,867
Indefinite-lived intangible assets		14,440	14,298
Definite-lived intangible assets, net		66,307	70,409
Other long-term assets		164,460	165,064
Total assets		440,868	507,791
Accounts payable and accrued liabilities		76,592	85,875
Current portion of long-term debt		7,838	7,842
Other current liabilities		6,824	9,743
Total current liabilities		91,254	103,460
Long-term debt		365,283	381,913
Other long-term liabilities		173,456	173,197
Total liabilities		629,993	658,570
Total Sinclair Broadcast Group equity (deficit)		(145,440)	(107,825)
Noncontrolling interests in consolidated subsidiaries		(43,685)	(42,954)
Total liabilities and equity		440,868	507,791
Eliminations
CONDENSED CONSOLIDATING BALANCE SHEET
Cash and cash equivalents		0	0
Accounts receivable, net		0	0
Other current assets		(25,895)	(24,072)
Total current assets		(25,895)	(24,072)
Property and equipment, net		(16,643)	(13,371)
Investment in consolidated subsidiaries		(5,126,046)	(5,262,676)
Goodwill		0	0
Indefinite-lived intangible assets		0	0
Definite-lived intangible assets, net		(49,457)	(52,277)
Other long-term assets		(991,769)	(970,375)
Total assets		(6,209,810)	(6,322,771)
Accounts payable and accrued liabilities		(26,809)	(25,006)
Current portion of long-term debt		(578)	(513)
Other current liabilities		0	0
Total current liabilities		(27,387)	(25,519)
Long-term debt		(330,504)	(344,062)
Other long-term liabilities		(872,623)	(833,506)
Total liabilities		(1,230,514)	(1,203,087)
Total Sinclair Broadcast Group equity (deficit)		(4,982,865)	(5,124,122)
Noncontrolling interests in consolidated subsidiaries		3,569	4,438
Total liabilities and equity		$ (6,209,810)	$ (6,322,771)
[1]	Our consolidated total assets as of June 30, 2019 and December 31, 2018 include total assets of variable interest entities (VIEs) of $121.4 million and $127.6 million , respectively, which can only be used to settle the obligations of the VIEs. Our consolidated total liabilities as of June 30, 2019 and December 31, 2018 include total liabilities of VIEs of $15.2 million and $22.3 million , respectively, for which the creditors of the VIEs have no recourse to us. See Note 8. Variable Interest Entities .

CONDENSED CONSOLIDATING FINAN_5

CONDENSED CONSOLIDATING FINANCIAL STATEMENTS - Statement of Operations and Comprehensive Income (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME
Total revenues	$ 770,719	$ 730,143	$ 1,492,822	$ 1,395,496
Media program and production expenses	335,162	300,858	654,206	589,407
Selling, general and administrative	216,410	180,479	404,059	351,974
Depreciation, amortization and other operating expenses	113,148	117,224	234,960	215,218
Total operating expenses	664,720	598,561	1,293,225	1,156,599
Operating income	105,999	131,582	199,597	238,897
Equity in earnings of consolidated subsidiaries	0	0	0	0
Interest expense	(53,678)	(92,271)	(108,304)	(162,013)
Other income (expense)	(6,311)	(13,299)	(17,753)	(22,505)
Total other expense, net	(59,989)	(105,570)	(126,057)	(184,518)
Income tax benefit (provision)	(2,627)	3,297	(7,386)	18,925
NET INCOME	43,383	29,309	66,154	73,304
Net income attributable to the noncontrolling interests	(1,086)	(1,268)	(2,185)	(2,139)
NET INCOME ATTRIBUTABLE TO SINCLAIR BROADCAST GROUP	42,297	28,041	63,969	71,165
Comprehensive income	43,383	29,309	66,154	73,304
Reportable legal entities | Sinclair Broadcast Group, Inc.
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME
Total revenues	0	0	0	0
Media program and production expenses	0	0	0	0
Selling, general and administrative	18,999	2,874	20,986	5,471
Depreciation, amortization and other operating expenses	152	19	383	38
Total operating expenses	19,151	2,893	21,369	5,509
Operating income	(19,151)	(2,893)	(21,369)	(5,509)
Equity in earnings of consolidated subsidiaries	57,015	29,345	80,250	74,383
Interest expense	(163)	(1)	(163)	(1)
Other income (expense)	351	642	723	1,323
Total other expense, net	57,203	29,986	80,810	75,705
Income tax benefit (provision)	4,245	948	4,528	969
NET INCOME	42,297	28,041	63,969	71,165
Net income attributable to the noncontrolling interests	0	0	0	0
NET INCOME ATTRIBUTABLE TO SINCLAIR BROADCAST GROUP	42,297	28,041	63,969	71,165
Comprehensive income	42,297	28,041	63,969	71,165
Reportable legal entities | Sinclair Television Group, Inc.
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME
Total revenues	0	0	4	0
Media program and production expenses	0	0	0	0
Selling, general and administrative	32,569	26,585	58,329	48,339
Depreciation, amortization and other operating expenses	1,328	1,134	2,535	2,384
Total operating expenses	33,897	27,719	60,864	50,723
Operating income	(33,897)	(27,719)	(60,860)	(50,723)
Equity in earnings of consolidated subsidiaries	118,038	128,164	207,320	299,934
Interest expense	(52,020)	(90,635)	(104,971)	(158,803)
Other income (expense)	4,789	3,256	5,796	5,551
Total other expense, net	70,807	40,785	108,145	146,682
Income tax benefit (provision)	17,370	22,056	29,003	37,454
NET INCOME	54,280	35,122	76,288	133,413
Net income attributable to the noncontrolling interests	0	0	0	0
NET INCOME ATTRIBUTABLE TO SINCLAIR BROADCAST GROUP	54,280	35,122	76,288	133,413
Comprehensive income	54,280	35,122	76,288	133,413
Reportable legal entities | Guarantor Subsidiaries and KDSM, LLC
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME
Total revenues	704,513	680,130	1,360,858	1,305,814
Media program and production expenses	317,279	285,940	618,722	559,355
Selling, general and administrative	162,019	147,180	318,435	290,481
Depreciation, amortization and other operating expenses	69,499	84,573	147,691	90,989
Total operating expenses	548,797	517,693	1,084,848	940,825
Operating income	155,716	162,437	276,010	364,989
Equity in earnings of consolidated subsidiaries	0	(185)	0	245
Interest expense	(889)	(989)	(1,939)	(1,961)
Other income (expense)	(11,729)	(14,345)	(23,398)	(27,706)
Total other expense, net	(12,618)	(15,519)	(25,337)	(29,422)
Income tax benefit (provision)	(23,902)	(17,607)	(40,776)	(33,283)
NET INCOME	119,196	129,311	209,897	302,284
Net income attributable to the noncontrolling interests	0	0	0	0
NET INCOME ATTRIBUTABLE TO SINCLAIR BROADCAST GROUP	119,196	129,311	209,897	302,284
Comprehensive income	119,196	129,311	209,897	302,284
Reportable legal entities | Non- Guarantor Subsidiaries
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME
Total revenues	88,710	71,730	171,903	129,741
Media program and production expenses	32,744	33,175	62,938	65,195
Selling, general and administrative	4,123	4,352	8,832	8,636
Depreciation, amortization and other operating expenses	46,422	33,223	90,099	124,231
Total operating expenses	83,289	70,750	161,869	198,062
Operating income	5,421	980	10,034	(68,321)
Equity in earnings of consolidated subsidiaries	0	0	0	0
Interest expense	(4,136)	(4,643)	(8,592)	(9,193)
Other income (expense)	278	(2,852)	(874)	(1,673)
Total other expense, net	(3,858)	(7,495)	(9,466)	(10,866)
Income tax benefit (provision)	(340)	(2,100)	(141)	13,785
NET INCOME	1,223	(8,615)	427	(65,402)
Net income attributable to the noncontrolling interests	(1,072)	(1,268)	(3,051)	(2,324)
NET INCOME ATTRIBUTABLE TO SINCLAIR BROADCAST GROUP	151	(9,883)	(2,624)	(67,726)
Comprehensive income	1,223	(8,615)	427	(65,402)
Eliminations
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME
Total revenues	(22,504)	(21,717)	(39,943)	(40,059)
Media program and production expenses	(14,861)	(18,257)	(27,454)	(35,143)
Selling, general and administrative	(1,300)	(512)	(2,523)	(953)
Depreciation, amortization and other operating expenses	(4,253)	(1,725)	(5,748)	(2,424)
Total operating expenses	(20,414)	(20,494)	(35,725)	(38,520)
Operating income	(2,090)	(1,223)	(4,218)	(1,539)
Equity in earnings of consolidated subsidiaries	(175,053)	(157,324)	(287,570)	(374,562)
Interest expense	3,530	3,997	7,361	7,945
Other income (expense)	0	0	0	0
Total other expense, net	(171,523)	(153,327)	(280,209)	(366,617)
Income tax benefit (provision)	0	0	0	0
NET INCOME	(173,613)	(154,550)	(284,427)	(368,156)
Net income attributable to the noncontrolling interests	(14)	0	866	185
NET INCOME ATTRIBUTABLE TO SINCLAIR BROADCAST GROUP	(173,627)	(154,550)	(283,561)	(367,971)
Comprehensive income	$ (173,613)	$ (154,550)	$ (284,427)	$ (368,156)

CONDENSED CONSOLIDATING FINAN_6

CONDENSED CONSOLIDATING FINANCIAL STATEMENTS - Statement of Cash Flows (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME
NET CASH FLOWS FROM (USED IN) OPERATING ACTIVITIES	$ 222,691	$ 255,156
CASH FLOWS FROM (USED IN) INVESTING ACTIVITIES:
Acquisition of property and equipment	(61,595)	(52,268)
Purchases of investments	(43,594)	(18,596)
Distributions from investments	3,026	13,505
Spectrum repack reimbursements	22,119	1,542
Other, net	(1,405)	(56)
Net cash flows used in investing activities	(81,449)	(55,873)
CASH FLOWS USED IN FINANCING ACTIVITIES:
Proceeds from notes payable and commercial bank financing	509	2,016
Repayments of notes payable, commercial bank financing and finance leases	(108,554)	(142,077)
Dividends paid on Class A and Class B Common Stock	(36,765)	(36,794)
Repurchase of outstanding Class A Common Stock	(125,034)	0
Increase (decrease) in intercompany payables	0	0
Other, net	(2,690)	(2,144)
Net cash flows used in financing activities	(272,534)	(178,999)
NET (DECREASE) INCREASE IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH	(131,292)	20,284
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH, beginning of period	1,060,330	995,940
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH, end of period	929,038	1,016,224
Reportable legal entities | Sinclair Broadcast Group, Inc.
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME
NET CASH FLOWS FROM (USED IN) OPERATING ACTIVITIES	(198)	(1,196)
CASH FLOWS FROM (USED IN) INVESTING ACTIVITIES:
Acquisition of property and equipment	(8)	0
Purchases of investments	(2,291)	(1,735)
Distributions from investments	0	2,498
Spectrum repack reimbursements	0	0
Other, net	0	1,670
Net cash flows used in investing activities	(2,299)	2,433
CASH FLOWS USED IN FINANCING ACTIVITIES:
Proceeds from notes payable and commercial bank financing	0	0
Repayments of notes payable, commercial bank financing and finance leases	0	0
Dividends paid on Class A and Class B Common Stock	(36,765)	(36,794)
Repurchase of outstanding Class A Common Stock	(125,034)
Increase (decrease) in intercompany payables	164,061	33,309
Other, net	235	2,248
Net cash flows used in financing activities	2,497	(1,237)
NET (DECREASE) INCREASE IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH	0	0
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH, beginning of period	0	0
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH, 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	(122,095)	(154,476)
CASH FLOWS FROM (USED IN) INVESTING ACTIVITIES:
Acquisition of property and equipment	(1,691)	(4,250)
Purchases of investments	(6,005)	(1,821)
Distributions from investments	0	0
Spectrum repack reimbursements	0	0
Other, net	(1,041)	(2,731)
Net cash flows used in investing activities	(8,737)	(8,802)
CASH FLOWS USED IN FINANCING ACTIVITIES:
Proceeds from notes payable and commercial bank financing	0	0
Repayments of notes payable, commercial bank financing and finance leases	(102,742)	(132,937)
Dividends paid on Class A and Class B Common Stock	0	0
Repurchase of outstanding Class A Common Stock	0
Increase (decrease) in intercompany payables	163,476	606,796
Other, net	0	0
Net cash flows used in financing activities	60,734	473,859
NET (DECREASE) INCREASE IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH	(70,098)	310,581
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH, beginning of period	961,963	645,830
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH, end of period	891,865	956,411
Reportable legal entities | Guarantor Subsidiaries and KDSM, LLC
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME
NET CASH FLOWS FROM (USED IN) OPERATING ACTIVITIES	328,029	412,837
CASH FLOWS FROM (USED IN) INVESTING ACTIVITIES:
Acquisition of property and equipment	(63,374)	(46,803)
Purchases of investments	(29,970)	(13,586)
Distributions from investments	0	0
Spectrum repack reimbursements	22,119	1,542
Other, net	(373)	1,005
Net cash flows used in investing activities	(71,598)	(57,842)
CASH FLOWS USED IN FINANCING ACTIVITIES:
Proceeds from notes payable and commercial bank financing	0	0
Repayments of notes payable, commercial bank financing and finance leases	(2,015)	(1,715)
Dividends paid on Class A and Class B Common Stock	0	0
Repurchase of outstanding Class A Common Stock	0
Increase (decrease) in intercompany payables	(271,069)	(666,187)
Other, net	0	0
Net cash flows used in financing activities	(273,084)	(667,902)
NET (DECREASE) INCREASE IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH	(16,653)	(312,907)
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH, beginning of period	19,648	323,383
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH, end of period	2,995	10,476
Reportable legal entities | Non- Guarantor Subsidiaries
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME
NET CASH FLOWS FROM (USED IN) OPERATING ACTIVITIES	22,155	(9,691)
CASH FLOWS FROM (USED IN) INVESTING ACTIVITIES:
Acquisition of property and equipment	(1,476)	(2,463)
Purchases of investments	(5,328)	(1,454)
Distributions from investments	3,026	11,007
Spectrum repack reimbursements	0	0
Other, net	9	0
Net cash flows used in investing activities	(3,769)	7,090
CASH FLOWS USED IN FINANCING ACTIVITIES:
Proceeds from notes payable and commercial bank financing	668	2,016
Repayments of notes payable, commercial bank financing and finance leases	(24,558)	(7,612)
Dividends paid on Class A and Class B Common Stock	0	0
Repurchase of outstanding Class A Common Stock	0
Increase (decrease) in intercompany payables	(36,112)	35,199
Other, net	(2,925)	(4,392)
Net cash flows used in financing activities	(62,927)	25,211
NET (DECREASE) INCREASE IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH	(44,541)	22,610
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH, beginning of period	78,719	26,727
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH, end of period	34,178	49,337
Eliminations
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME
NET CASH FLOWS FROM (USED IN) OPERATING ACTIVITIES	(5,200)	7,682
CASH FLOWS FROM (USED IN) INVESTING ACTIVITIES:
Acquisition of property and equipment	4,954	1,248
Purchases of investments	0	0
Distributions from investments	0	0
Spectrum repack reimbursements	0	0
Other, net	0	0
Net cash flows used in investing activities	4,954	1,248
CASH FLOWS USED IN FINANCING ACTIVITIES:
Proceeds from notes payable and commercial bank financing	(159)	0
Repayments of notes payable, commercial bank financing and finance leases	20,761	187
Dividends paid on Class A and Class B Common Stock	0	0
Repurchase of outstanding Class A Common Stock	0
Increase (decrease) in intercompany payables	(20,356)	(9,117)
Other, net	0	0
Net cash flows used in financing activities	246	(8,930)
NET (DECREASE) INCREASE IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH	0	0
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH, beginning of period	0	0
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH, end of period	$ 0	$ 0