Sinclair Broadcast (SBGI) 10-Q 9 Nov 22 2022 Q3 Quarterly report Financial data

Cover

Cover - shares	9 Months Ended
	Sep. 30, 2022	Nov. 04, 2022
Entity Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2022
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 Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Central Index Key	0000912752
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q3
Amendment Flag	false
Class A Common Stock
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		45,850,774
Class B Common Stock
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		23,775,056

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions		Sep. 30, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents		$ 607	$ 816
Accounts receivable, net of allowance for doubtful accounts of $8 and $7, respectively		586	1,245
Income taxes receivable		171	152
Prepaid sports rights		0	85
Prepaid expenses and other current assets		199	173
Total current assets		1,563	2,471
Property and equipment, net		720	833
Operating lease assets		146	207
Deferred tax assets		0	293
Restricted cash		0	3
Goodwill		2,088	2,088
Indefinite-lived intangible assets		150	150
Definite-lived intangible assets, net		989	5,088
Other assets		949	1,408
Total assets	[1]	6,605	12,541
Current liabilities:
Accounts payable and accrued liabilities		412	655
Current portion of notes payable, finance leases, and commercial bank financing		43	69
Current portion of operating lease liabilities		23	35
Current portion of program contracts payable		102	97
Other current liabilities		108	346
Total current liabilities		688	1,202
Notes payable, finance leases, and commercial bank financing, less current portion		4,226	12,271
Operating lease liabilities, less current portion		156	205
Program contracts payable, less current portion		12	21
Deferred tax liabilities		465	0
Other long-term liabilities		228	351
Total liabilities	[1]	5,775	14,050
Commitments and contingencies (See Note 6)
Redeemable noncontrolling interests		190	197
Shareholders' equity:
Additional paid-in capital		623	691
Retained earnings (accumulated deficit)		84	(2,460)
Accumulated other comprehensive loss		(2)	(2)
Total Sinclair Broadcast Group shareholders’ equity (deficit)		706	(1,770)
Noncontrolling interests		(66)	64
Total equity (deficit)		640	(1,706)
Total liabilities, redeemable noncontrolling interests, and equity		6,605	12,541
Class A Common Stock
Shareholders' equity:
Common Stock		1	1
Class B Common Stock
Shareholders' equity:
Common Stock		0	0
Customer relationships, net
Current assets:
Definite-lived intangible assets, net		464	3,904
Other definite-lived intangible assets, net
Current assets:
Definite-lived intangible assets, net		$ 525	$ 1,184
[1]Our consolidated total assets as of September 30, 2022 and December 31, 2021 include total assets of variable interest entities ("VIE") of $113 million and $217 million, respectively, which can only be used to settle the obligations of the VIEs. Our consolidated total liabilities as of September 30, 2022 and December 31, 2021 include total liabilities of VIEs of $18 million and $62 million, respectively, for which the creditors of the VIEs have no recourse to us. See Note 9. Variable Interest Entities .

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Millions		Sep. 30, 2022	Dec. 31, 2021
Accounts receivable, allowance for doubtful accounts		$ 8	$ 7
Assets	[1]	6,605	12,541
Liabilities	[1]	5,775	14,050
Consolidated VIEs
Assets		113	217
Liabilities		26	72
Consolidated VIEs | Recourse
Liabilities		$ 18	$ 62
Class A Common Stock
Common Stock, par value (in dollars per share)		$ 0.01	$ 0.01
Common Stock, shares authorized (in shares)		500,000,000	500,000,000
Common Stock, shares issued (in shares)		46,073,926	49,314,303
Common Stock, shares outstanding (in shares)		46,073,926	49,314,303
Class B Common Stock
Common Stock, par value (in dollars per share)		$ 0.01	$ 0.01
Common Stock, shares authorized (in shares)		140,000,000	140,000,000
Common Stock, shares issued (in shares)		23,775,056	23,775,056
Common Stock, shares outstanding (in shares)		23,775,056	23,775,056
[1]Our consolidated total assets as of September 30, 2022 and December 31, 2021 include total assets of variable interest entities ("VIE") of $113 million and $217 million, respectively, which can only be used to settle the obligations of the VIEs. Our consolidated total liabilities as of September 30, 2022 and December 31, 2021 include total liabilities of VIEs of $18 million and $62 million, respectively, for which the creditors of the VIEs have no recourse to us. See Note 9. Variable Interest Entities .

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
REVENUES:
Media revenues	$ 836	$ 1,526	$ 2,942	$ 4,623
Non-media revenues	7	9	26	35
Revenue	843	1,535	2,968	4,658
OPERATING EXPENSES:
Media programming and production expenses	396	1,022	1,557	3,390
Media selling, general and administrative expenses	190	228	605	675
Amortization of program contract costs	22	22	68	67
Non-media expenses	12	11	35	42
Depreciation of property and equipment	24	28	76	84
Corporate general and administrative expenses	30	35	115	132
Amortization of definite-lived intangible assets	43	120	179	364
Gain on deconsolidation of subsidiary	0	0	(3,357)	0
Gain on asset dispositions and other, net of impairment	(28)	(4)	(37)	(26)
Total operating expenses (gains)	689	1,462	(759)	4,728
Operating (loss) income	154	73	3,727	(70)
OTHER INCOME (EXPENSE):
Interest expense including amortization of debt discount and deferred financing costs	(59)	(155)	(228)	(466)
Gain on extinguishment of debt	0	0	3	0
Income from equity method investments	33	12	48	23
Other income (expense), net	10	(4)	(155)	59
Total other expense, net	(16)	(147)	(332)	(384)
Income (loss) before income taxes	138	(74)	3,395	(454)
INCOME TAX (PROVISION) BENEFIT	(109)	91	(756)	169
NET INCOME (LOSS)	29	17	2,639	(285)
Net income attributable to the redeemable noncontrolling interests	(5)	(4)	(14)	(13)
Net (income) loss attributable to the noncontrolling interests	(3)	6	(28)	(27)
NET INCOME (LOSS) ATTRIBUTABLE TO SINCLAIR BROADCAST GROUP	$ 21	$ 19	$ 2,597	$ (325)
EARNINGS PER COMMON SHARE ATTRIBUTABLE TO SINCLAIR BROADCAST GROUP:
Basic earnings (loss) per share (in dollars per share)	$ 0.32	$ 0.25	$ 36.59	$ (4.33)
Diluted earnings (loss) per share (in dollars per share)	$ 0.32	$ 0.25	$ 36.59	$ (4.33)
Basic weighted average common shares outstanding (in shares)	69,907	75,472	70,981	75,068
Diluted weighted average common and common equivalent shares outstanding (in shares)	69,907	75,516	70,985	75,068

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 29	$ 17	$ 2,639	$ (285)
Share of other comprehensive income of equity method investments	0	1	3	6
Comprehensive income (loss)	29	18	2,642	(279)
Comprehensive income attributable to the redeemable noncontrolling interests	(5)	(4)	(14)	(13)
Comprehensive (income) loss attributable to the noncontrolling interests	(3)	6	(28)	(27)
Comprehensive income (loss) attributable to Sinclair Broadcast Group	$ 21	$ 20	$ 2,600	$ (319)

CONSOLIDATED STATEMENTS OF EQUI

CONSOLIDATED STATEMENTS OF EQUITY (DEFICIT) AND REDEEMABLE NONCONTROLLING INTERESTS - USD ($) $ in Millions	Total	Class A Common Stock	Class B Common Stock	Common Stock Class A Common Stock	Common Stock Class B Common Stock	Additional Paid-In Capital	Accumulated Deficit	Accumulated Other Comprehensive Loss	Noncontrolling Interests
Beginning balance at Dec. 31, 2020	$ 190
Increase (Decrease) in Temporary Equity
Distributions to noncontrolling interests, net	(9)
Net income (loss)	13
Ending balance at Sep. 30, 2021	194
Beginning balance (in shares) at Dec. 31, 2020				49,252,671	24,727,682
Beginning balance at Dec. 31, 2020	(1,185)			$ 1	$ 0	$ 721	$ (1,986)	$ (10)	$ 89
Increase (Decrease) in Stockholders' Equity
Dividends declared and paid on Class A and Class B Common Stock	(46)						(46)
Class B Common Stock converted into Class A Common Stock (in shares)				(952,626)	(952,626)
Class A Common Stock issued pursuant to employee benefit plans (in shares)				1,505,335
Class A Common Stock issued pursuant to employee benefit plans	26					26
Distributions to noncontrolling interests, net	(63)								(63)
Other comprehensive income	6							6
Net income (loss)	(298)						(325)		27
Ending balance (in shares) at Sep. 30, 2021				51,710,632	23,775,056
Ending balance at Sep. 30, 2021	(1,560)			$ 1	$ 0	747	(2,357)	(4)	53
Beginning balance at Jun. 30, 2021	190
Increase (Decrease) in Temporary Equity
Net income (loss)	4
Ending balance at Sep. 30, 2021	194
Beginning balance (in shares) at Jun. 30, 2021				51,616,924	23,775,056
Beginning balance at Jun. 30, 2021	(1,552)			$ 1	$ 0	740	(2,360)	(5)	72
Increase (Decrease) in Stockholders' Equity
Dividends declared and paid on Class A and Class B Common Stock	(16)						(16)
Class A Common Stock issued pursuant to employee benefit plans (in shares)				93,708
Class A Common Stock issued pursuant to employee benefit plans	7					7
Distributions to noncontrolling interests, net	(13)								(13)
Other comprehensive income	1							1
Net income (loss)	13						19		(6)
Ending balance (in shares) at Sep. 30, 2021				51,710,632	23,775,056
Ending balance at Sep. 30, 2021	(1,560)			$ 1	$ 0	747	(2,357)	(4)	53
Beginning balance at Dec. 31, 2021	197
Increase (Decrease) in Temporary Equity
Distributions to noncontrolling interests, net	(5)
Deconsolidation of subsidiary	(16)
Net income (loss)	14
Ending balance at Sep. 30, 2022	190
Beginning balance (in shares) at Dec. 31, 2021		49,314,303	23,775,056	49,314,303	23,775,056
Beginning balance at Dec. 31, 2021	(1,706)			$ 1	$ 0	691	(2,460)	(2)	64
Increase (Decrease) in Stockholders' Equity
Dividends declared and paid on Class A and Class B Common Stock	(53)						(53)
Repurchases of Class A Common Stock (in shares)				(4,547,370)
Repurchases of Class A Common Stock	(114)					(114)
Class A Common Stock issued pursuant to employee benefit plans (in shares)				1,306,993
Class A Common Stock issued pursuant to employee benefit plans	46					46
Distributions to noncontrolling interests, net	(10)								(10)
Other comprehensive income	3							3
Deconsolidation of subsidiary	(151)							(3)	(148)
Net income (loss)	2,625						2,597		28
Ending balance (in shares) at Sep. 30, 2022		46,073,926	23,775,056	46,073,926	23,775,056
Ending balance at Sep. 30, 2022	640			$ 1	$ 0	623	84	(2)	(66)
Beginning balance at Jun. 30, 2022	187
Increase (Decrease) in Temporary Equity
Distributions to noncontrolling interests, net	(2)
Net income (loss)	5
Ending balance at Sep. 30, 2022	190
Beginning balance (in shares) at Jun. 30, 2022				46,470,546	23,775,056
Beginning balance at Jun. 30, 2022	642			$ 1	$ 0	628	79	(2)	(64)
Increase (Decrease) in Stockholders' Equity
Dividends declared and paid on Class A and Class B Common Stock	(16)						(16)
Repurchases of Class A Common Stock (in shares)				(489,051)
Repurchases of Class A Common Stock	(10)					(10)
Class A Common Stock issued pursuant to employee benefit plans (in shares)				92,431
Class A Common Stock issued pursuant to employee benefit plans	5					5
Distributions to noncontrolling interests, net	(5)								(5)
Net income (loss)	24						21		3
Ending balance (in shares) at Sep. 30, 2022		46,073,926	23,775,056	46,073,926	23,775,056
Ending balance at Sep. 30, 2022	$ 640			$ 1	$ 0	$ 623	$ 84	$ (2)	$ (66)

CONSOLIDATED STATEMENTS OF EQ_2

CONSOLIDATED STATEMENTS OF EQUITY (DEFICIT) AND REDEEMABLE NONCONTROLLING INTERESTS (Parenthetical) - $ / shares	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Class A Common Stock
Dividends declared per share (in dollars per share)	$ 0.25	$ 0.20	$ 0.75	$ 0.60
Dividends paid per share (in dollars per share)	0.25	0.20	0.75	0.60
Class B Common Stock
Dividends declared per share (in dollars per share)	0.25	0.20	0.75	0.60
Dividends paid per share (in dollars per share)	$ 0.25	$ 0.20	$ 0.75	$ 0.60

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss)	$ 2,639	$ (285)
Adjustments to reconcile net income (loss) to net cash flows from operating activities:
Amortization of sports programming rights	326	1,912
Amortization of definite-lived intangible and other assets	179	364
Depreciation of property and equipment	76	84
Amortization of program contract costs	68	67
Stock-based compensation	46	52
Deferred tax provision (benefit)	759	(92)
Gain on asset dispositions and other, net of impairment	(10)	(24)
Gain on deconsolidation of subsidiary	(3,357)	0
Income from equity method investments	(48)	(23)
Loss (income) from investments	144	(55)
Distributions from investments	74	27
Sports programming rights payments	(325)	(1,338)
Rebate payments to distributors	(15)	(202)
Gain on extinguishment of debt	(3)	0
Change in assets and liabilities, net of acquisitions and deconsolidation of subsidiary:
Decrease (increase) in accounts receivable	48	(116)
Increase in prepaid expenses and other current assets	(95)	(130)
Increase in accounts payable and accrued and other current liabilities	49	80
Net change in net income taxes payable/receivable	(19)	(42)
Decrease in program contracts payable	(78)	(77)
Other, net	0	33
Net cash flows from operating activities	458	235
CASH FLOWS USED IN INVESTING ACTIVITIES:
Acquisition of property and equipment	(74)	(62)
Spectrum repack reimbursements	3	22
Proceeds from sale of assets	9	43
Deconsolidation of subsidiary cash	(315)	0
Purchases of investments	(67)	(244)
Distributions from investments	90	11
Other, net	2	(1)
Net cash flows used in investing activities	(352)	(231)
CASH FLOWS USED IN FINANCING ACTIVITIES:
Proceeds from notes payable and commercial bank financing	728	357
Repayments of notes payable, commercial bank financing and finance leases	(854)	(400)
Repurchase of outstanding Class A Common Stock	(114)	0
Dividends paid on Class A and Class B Common Stock	(53)	(46)
Dividends paid on redeemable subsidiary preferred equity	(5)	(4)
Distributions to noncontrolling interests, net	(10)	(63)
Distributions to redeemable noncontrolling interests	0	(5)
Other, net	(10)	(44)
Net cash flows used in financing activities	(318)	(205)
NET DECREASE IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH	(212)	(201)
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH, beginning of period	819	1,262
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH, end of period	$ 607	$ 1,061

NATURE OF OPERATIONS AND SUMMAR

NATURE OF OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	9 Months Ended
	Sep. 30, 2022
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. ("SBG," the "Company," or sometimes referred to as "we" or "our") is a diversified media company with national reach and a strong focus on providing high-quality content on our local television stations, digital platforms, and, prior to the Deconsolidation, as defined below in Deconsolidation of Diamond Sports Intermediate Holdings LLC, regional sports networks. The content, distributed through our broadcast platform and third-party platforms, consists of programming provided by third-party networks and syndicators, local news, college and professional sports, and other original programming produced by us. 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 media and non-media related investments. For the quarter ended September 30, 2022, we had one reportable segment for accounting purposes, broadcast. Prior to the Deconsolidation, as defined below in Deconsolidation of Diamond Sports Intermediate Holdings LLC, we had two reportable segments for accounting purposes, broadcast and local sports. The broadcast segment consists primarily of our 185 broadcast television stations in 86 markets, which we own, provide programming and operating services pursuant to agreements commonly referred to as local marketing agreements ("LMA"), or provide sales services and other non-programming operating services pursuant to other outsourcing agreements (such as joint sales agreements ("JSA") and shared services agreements ("SSA")). These stations broadcast 638 channels as of September 30, 2022. For the purpose of this report, these 185 stations and 638 channels are referred to as "our" stations and channels. The local sports segment consisted primarily of our Bally Sports network brands ("Bally RSNs"), the Marquee Sports Network ("Marquee") joint venture, and a minority equity interest in the Yankee Entertainment and Sports Network, LLC ("YES Network") through February 28, 2022. On March 1, 2022, the Bally RSNs, Marquee, and YES Network were deconsolidated from our financial statements. See Deconsolidation of Diamond Sports Intermediate Holdings LLC below. Through February 28, 2022, we refer to the Bally RSNs and Marquee as "the RSNs". The RSNs and YES Network own the exclusive rights to air, among other sporting events, the games of professional sports teams in designated local viewing areas. Principles of Consolidation The consolidated financial statements include our accounts and those of our wholly-owned and majority-owned subsidiaries, and VIEs for which we are the primary beneficiary. Noncontrolling interests represent a minority owner’s proportionate share of the equity in certain of our consolidated entities. Noncontrolling interests which may be redeemed by the holder, and the redemption is outside of our control, are presented as redeemable noncontrolling interests. 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 9. 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. Deconsolidation of Diamond Sports Intermediate Holdings LLC On March 1, 2022, SBG's subsidiary Diamond Sports Intermediate Holdings, LLC, and certain subsidiaries (collectively "DSIH") completed a series of transactions (the "Transaction") which are expected to provide DSIH with approximately $1 billion of liquidity enhancement over the next five years. As part of the Transaction, the governance structure of DSIH was modified including changes to the composition of its Board of Managers, resulting in the Company's loss of voting control. As a result, DSIH, whose operations represented the entirety of our local sports segment, was deconsolidated from our consolidated financial statements effective as of March 1, 2022 (the "Deconsolidation"). The consolidated statement of operations therefore includes two months of activity related to DSIH in the fiscal quarter ended March 31, 2022 prior to the Deconsolidation. Subsequent to February 28, 2022, the assets and liabilities of DSIH are no longer included within our consolidated balance sheets. Any discussions related to results, operations, and accounting policies associated with DSIH are referring to the periods prior to the Deconsolidation. Upon Deconsolidation, we recognized a gain before income taxes of approximately $3,357 million, which is recorded within gain on deconsolidation of subsidiary in our consolidated statements of operations. Subsequent to the Deconsolidation, we accounted for our equity ownership interest in DSIH under the equity method of accounting. See Note 3. Other Assets for more information. Interim Financial Statements The consolidated financial statements for the three and nine months ended September 30, 2022 and 2021 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 (deficit) and redeemable noncontrolling interests, and consolidated statements of cash flows for these periods as adjusted for the adoption of recent accounting pronouncements. As permitted under the applicable rules and regulations of the Securities and Exchange Commission (the "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, 2021 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. 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. The impact of the war in Ukraine and the novel coronavirus ("COVID-19") continues to create significant uncertainty and disruption in the global economy and financial markets. It is reasonably possible that these uncertainties could further materially impact our estimates related to, but not limited to, revenue recognition, goodwill and intangible assets, program contract costs and income taxes. As a result, many of our estimates and assumptions require increased judgment and carry a higher degree of variability and volatility. Our estimates may change as new events occur and additional information emerges, and such changes are recognized or disclosed in our consolidated financial statements. Recent Accounting Pronouncements In March 2020, the FASB issued guidance providing optional expedients and exceptions for applying GAAP to contracts, hedging relationships, and other transactions affected by the discontinuation of the London Interbank Offered Rate ("LIBOR") or by another reference rate expected to be discontinued. The guidance was effective for all entities immediately upon issuance of the update and may be applied prospectively to applicable transactions existing as of or entered into from the date of adoption through December 31, 2022. We adopted this guidance upon issuance and it did not have an impact on our consolidated financial statements. Broadcast Television Programming We have agreements with programming syndicators for the rights to television programming over contract periods, which generally run from one The rights to this programming are reflected in the accompanying consolidated balance sheets at the lower of unamortized cost or fair value. Program contract costs are amortized on a straight-line basis except for contracts greater than three years which are amortized utilizing an accelerated method. Program contract costs estimated by management to be amortized in the succeeding year are classified as current assets. Payments of program contract liabilities are typically made on a scheduled basis and are not affected by amortization or fair value adjustments. Fair value is determined utilizing a discounted cash flow model based on management’s expectation of future advertising revenues, net of sales commissions, to be generated by the program material. We assess our program contract costs on a quarterly basis to ensure the costs are recorded at the lower of unamortized cost or fair value. Sports Programming Rights DSIH has multi-year program rights agreements that provide DSIH with the right to produce and telecast professional live sports games within a specified territory in exchange for a rights fee. Prior to the Deconsolidation, a prepaid asset was recorded for rights acquired related to future games upon payment of the contracted fee. The assets recorded for the acquired rights were classified as current or non-current based on the period when the games were expected to be aired. Liabilities were recorded for any program rights obligations that had been incurred but not yet paid at period end. We amortized these rights as an expense over each season based upon contractually stated rates. Amortization was accelerated in the event that the stated contractual rates over the term of the rights agreement resulted in an expense recognition pattern that was inconsistent with the projected growth of revenue over the contractual term. The National Basketball Association ("NBA") and the National Hockey League ("NHL") delayed the start of their 2020-2021 seasons until December 22, 2020 and January 13, 2021, respectively, and both leagues postponed games in the fourth quarter 2021 and rescheduled these games to be played in the first quarter 2022. The sports rights expense associated with these seasons was recognized over the modified term of these seasons. Non-cash Investing and Financing Activities Leased assets obtained in exchange for new operating lease liabilities were $9 million and $11 million for the nine months ended September 30, 2022 and 2021, respectively. Leased assets obtained in exchange for new finance lease liabilities were $1 million for the nine months ended September 30, 2022. During the nine months ended September 30, 2021, we received preferred shares in an investment valued at $6 million in exchange for an equivalent value of advertising spots. Revenue Recognition The following table presents our revenue disaggregated by type and segment (in millions): For the three months ended September 30, 2022 Broadcast Local sports Other Eliminations Total Distribution revenue $ 381 $ — $ 44 $ — $ 425 Advertising revenue 339 — 46 (11) 374 Other media, non-media, and intercompany revenues 33 — 13 (2) 44 Total revenues $ 753 $ — $ 103 $ (13) $ 843 For the three months ended September 30, 2021 Broadcast Local sports Other Eliminations Total Distribution revenue $ 372 $ 633 $ 48 $ — $ 1,053 Advertising revenue 283 118 55 (10) 446 Other media, non-media, and intercompany revenues 46 8 14 (32) 36 Total revenues $ 701 $ 759 $ 117 $ (42) $ 1,535 For the nine months ended September 30, 2022 Broadcast Local sports Other Eliminations Total Distribution revenue $ 1,158 $ 433 $ 137 $ — $ 1,728 Advertising revenue 937 44 184 (54) 1,111 Other media, non-media, and intercompany revenues 111 5 47 (34) 129 Total revenues $ 2,206 $ 482 $ 368 $ (88) $ 2,968 For the nine months ended September 30, 2021 Broadcast Local sports Other Eliminations Total Distribution revenue $ 1,096 $ 1,997 $ 147 $ — $ 3,240 Advertising revenue 830 345 149 (16) 1,308 Other media, non-media, and intercompany revenues 127 23 49 (89) 110 Total revenues $ 2,053 $ 2,365 $ 345 $ (105) $ 4,658 Distribution Revenue. We have agreements with multi-channel video programming distributors ("MVPD") and virtual MVPDs ("vMVPD," and together with MVPDs, "Distributors"). We generate distribution revenue through fees received from these Distributors for the right to distribute our stations, RSNs, and other properties. Distribution arrangements are generally governed by multi-year contracts and the underlying fees are based upon a contractual monthly rate per subscriber. These arrangements represent licenses of intellectual property; revenue is recognized as the signal or network programming is provided to our customers (as usage occurs) which corresponds with the satisfaction of our performance obligation. Revenue is calculated based upon the contractual rate multiplied by an estimated number of subscribers. Our customers will remit payments based upon actual subscribers a short time after the conclusion of a month, which generally does not exceed 120 days. Historical adjustments to subscriber estimates have not been material. Advertising Revenue. We generate advertising revenue primarily from the sale of advertising spots/impressions within our broadcast television, RSN, and digital 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 Revenue. We record deferred revenue when cash payments are received or due in advance of our performance, including amounts which are refundable. We classify deferred revenue as either current in other current liabilities or long-term in other long-term liabilities in our consolidated balance sheets based on the timing of when we expect to satisfy our performance obligations. Deferred revenue was $244 million and $235 million as of September 30, 2022 and December 31, 2021, respectively, of which $149 million and $164 million, respectively, was reflected in other long-term liabilities in our consolidated balance sheets. Deferred revenue recognized during the nine months ended September 30, 2022 and 2021, included in the deferred revenue balance as of December 31, 2021 and 2020, was $53 million and $38 million, respectively. For the three months ended September 30, 2022, one customer accounted for 11% of our total revenues. For the nine months ended September 30, 2022, three customers accounted for 14%, 12%, and 11%, respectively, of our total revenues. For the three months ended September 30, 2021, three customers accounted for 19%, 17%, and 14%, respectively, of our total revenues. For the nine months ended September 30, 2021, three customers accounted for 19%, 18%, and 14%, respectively, of our total revenues. As of September 30, 2022, two customers accounted for 11% and 10%, respectively, of our accounts receivable, net. For purposes of this disclosure, a single customer may include multiple entities under common control. Income Taxes Our income tax provision for all periods consists of federal and state income taxes. The tax provision for the three and nine months ended September 30, 2022 and 2021 is based on the estimated effective tax rate applicable for the full year after taking into account discrete tax items and the effects of the noncontrolling interests. We provide a valuation allowance for deferred tax assets if we determine that it is more likely than not that some or all of the deferred tax assets will not be realized. In evaluating our ability to realize net deferred tax assets, we consider all available evidence, both positive and negative, including our past operating results, tax planning strategies and forecasts of future taxable income. In considering these sources of taxable income, we must make certain judgments that are based on the plans and estimates used to manage our underlying businesses on a long-term basis. A valuation allowance has been provided for deferred tax assets related to interest expense carryforwards under the Internal Revenue Code (IRC) Section 163(j) and a substantial amount of our available state net operating loss 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 nine months ended September 30, 2022, was greater than the statutory rate primarily due to an increase in valuation allowance on deferred tax assets relating to deductibility of interest expense under the IRC Section 163(j). Our effective income tax rate for the nine months ended September 30, 2022, approximated our statutory rate. Our effective income tax rate for the three and nine months ended September 30, 2021 was greater than the statutory rate primarily due to a release of valuation allowance on deferred tax assets relating to deductibility of interest expense under the IRC Section 163(j), and a discrete benefit as a result of the CARES Act allowing for the 2020 federal net operating loss to be carried back to pre-2018 years when the federal tax rate was 35%. We do not believe that our liability for unrecognized tax benefits would be materially impacted, in the next twelve months, as a result of the expected statute of limitations expirations, the application of limits under available state administrative practice exceptions, and the resolution of examination issues and settlements with federal and certain state tax authorities. Share Repurchase Program On August 4, 2020, the Board of Directors authorized an additional $500 million share repurchase authorization in addition to the previous repurchase authorization of $1 billion. There is no expiration date and currently, management has no plans to terminate this program. For the nine months ended September 30, 2022, we repurchased approximately five million shares of Class A Common Stock for $114 million. As of September 30, 2022, the total remaining purchase authorization was $704 million. As of November 4, 2022, we repurchased an additional 0.3 million shares of Class A Common Stock, for $6 million since September 30, 2022. All shares were repurchased under an SEC Rule 10b5-1 plan. 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	9 Months Ended
	Sep. 30, 2022
Business Combination and Asset Acquisition [Abstract]
ACQUISITIONS AND DISPOSITIONS OF ASSETS	ACQUISITIONS AND DISPOSITIONS OF ASSETS: Broadcast Incentive Auction. In 2012, Congress authorized the Federal Communications Commission ("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 their 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. In March 2016, the FCC began the repacking process associated with the auction, in which the FCC reassigned some stations to new post-auction channels. We do not expect reassignment to new channels to have a material impact on our coverage. As part of that process, we received notification from the FCC that 100 of our stations have been assigned to new channels. Legislation has provided the FCC with a $3 billion fund to reimburse reasonable costs incurred by stations that are reassigned to new channels in the repack. We recorded gains related to reimbursements for spectrum repack costs incurred of $1 million and $3 million for the three and nine months ended September 30, 2022, respectively, and $3 million and $22 million for the three and nine months ended September 30, 2021, respectively, which are included within gain on asset dispositions and other, net of impairment in our consolidated statements of operations. Capital expenditures related to the spectrum repack were $0.1 million and $1 million for the three and nine months ended September 30, 2022, respectively, and $1 million and $10 million for the three and nine months ended September 30, 2021, respectively. The reimbursements we have received throughout this process have covered the majority of the expenses we incurred related to the repack.

OTHER ASSETS

OTHER ASSETS	9 Months Ended
	Sep. 30, 2022
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
OTHER ASSETS	OTHER ASSETS: Other assets as of September 30, 2022 and December 31, 2021 consisted of the following (in millions): As of September 30, As of December 31, Equity method investments $ 131 $ 517 Other investments 418 567 Note receivable 193 — Post-retirement plan assets 39 50 Other 168 274 Total other assets $ 949 $ 1,408 Equity Method Investments We have a portfolio of investments, including an investment in the YES Network (prior to the Deconsolidation), our investment in DSIH (subsequent to the Deconsolidation), and also a number of entities that are primarily focused on the development of real estate and other media and non-media businesses. No investments were individually significant for the periods presented. YES Network Investment . Prior to the Deconsolidation, we accounted for our investment in the YES Network as an equity method investment, which was recorded within other assets in our consolidated balance sheets, and in which our proportionate share of the net income or loss generated by the investment was included within income from equity method investments in our consolidated statements of operations. We recorded income of $10 million for the nine months ended September 30, 2022 and income of $10 million and $29 million for the three and nine months ended September 30, 2021, respectively. See Deconsolidation of Diamond Sports Intermediate Holdings LLC within Note 1. Nature of Operations and Summary of Significant Accounting Policies. Diamond Sports Intermediate Holdings LLC. Subsequent to the Deconsolidation, we began accounting for our equity interest in DSIH under the equity method of accounting. As of March 1, 2022, we reflected the investment in DSIH at fair value, which was determined to be nominal. For the three and nine months ended September 30, 2022 we recorded no equity method loss related to the investment because the carrying value of the investment is zero and we are not obligated to fund losses incurred by DSIH. See Deconsolidation of Diamond Sports Intermediate Holdings LLC within Note 1. Nature of Operations and Summary of Significant Accounting Policies. Other 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. Additionally, certain investments are measured at net asset value ("NAV"). As of September 30, 2022 and December 31, 2021, we held $216 million and $402 million, respectively, in investments measured at fair value and $185 million and $147 million, respectively, in investments measured at NAV. We recognized a fair value adjustment gain of $4 million and loss of $157 million for the three and nine months ended September 30, 2022, respectively, and a fair value adjustment loss of $2 million and gain of $60 million for the three and nine months ended September 30, 2021, respectively, associated with these investments, which are reflected in other income (expense), net in our consolidated statements of operations. As of September 30, 2022 and December 31, 2021, our unfunded commitments related to our investments valued using the NAV practical expedient totaled $92 million and $81 million, respectively. Investments accounted for utilizing the measurement alternative were $17 million, net of $7 million of cumulative impairments, as of September 30, 2022, and $18 million, net of $7 million of cumulative impairments, as of December 31, 2021. There were no adjustments to the carrying amount of investments accounted for utilizing the measurement alternative for any of the three and nine months ended September 30, 2022 or 2021. Note Receivable On November 5, 2021, we purchased and assumed the lenders’ and the administrative agent’s rights and obligations under the Accounts Receivable Securitization Facility ("A/R Facility"), held by Diamond Sports Finance SPV, LLC ("DSPV"), an indirect wholly-owned subsidiary of DSIH, by making a payment to the lenders equal to approximately $184 million, representing 101% of the aggregate outstanding principal amount of the loans under the A/R Facility, plus any accrued interest and outstanding fees and expenses. The maximum facility limit availability under the A/R Facility is $400 million and has a maturity date of September 23, 2024. Subsequent to the Deconsolidation, transactions related to the A/R Facility are no longer intercompany transactions and, therefore, are reflected in our consolidated financial statements. See Deconsolidation of Diamond Sports Intermediate Holdings LLC within Note 1. Nature of Operations and Summary of Significant Accounting Policies . As of September 30, 2022, the note receivable due to the Company is approximately $193 million which is recorded within other assets in our consolidated balance sheets.

NOTES PAYABLE, FINANCE LEASES,

NOTES PAYABLE, FINANCE LEASES, AND COMMERCIAL BANK FINANCING	9 Months Ended
	Sep. 30, 2022
Debt Disclosure [Abstract]
NOTES PAYABLE, FINANCE LEASES, AND COMMERCIAL BANK FINANCING	NOTES PAYABLE, FINANCE LEASES, AND COMMERCIAL BANK FINANCING: Bank Credit Agreement and Notes The bank credit agreement of Sinclair Television Group, Inc. ("STG"), a wholly owned subsidiary of the Company, (the "Bank Credit Agreement") includes a financial maintenance covenant, the first lien leverage ratio (as defined in the Bank Credit Agreement), which requires such ratio not to exceed 4.5x, measured as of the end of each fiscal quarter. As of September 30, 2022, the STG first lien leverage ratio was below 4.5x. Under the Bank Credit Agreement, a financial maintenance covenant is only applicable if 35% or more of the capacity (as a percentage of total commitments) under the revolving credit facility, measured as of the last day of each fiscal quarter, is utilized under the revolving credit facility as of such date. Since there was no utilization under the revolving credit facility as of September 30, 2022, STG was not subject to the financial maintenance covenant under the Bank Credit Agreement. The Bank Credit Agreement contains other restrictions and covenants with which STG was in compliance as of September 30, 2022. On April 21, 2022, STG entered into the Fourth Amendment (the "Fourth Amendment") to the Bank Credit Agreement with JPMorgan Chase Bank, N.A., as administrative agent, the guarantors party thereto (the "Guarantors") and the lenders and other parties thereto. Pursuant to the Fourth Amendment, STG raised Term B-4 Loans (as defined in the Bank Credit Agreement) in an aggregate principal amount of $750 million, which mature on April 21, 2029 (the "Term Loan B-4"). The Term Loan B-4 was issued at 97% of par and bears interest, at STG’s option, at Term Secured Overnight Financing Rate plus 3.75% (subject to customary credit spread adjustments) or base rate plus 2.75%. The proceeds from the Term Loan B-4 were used to refinance all of STG’s outstanding Term Loan B-1 due January 2024 and to redeem STG’s outstanding 5.875% senior notes due 2026 (the "STG 5.875% Notes"). In addition, the maturity of $612.5 million of the total $650 million of revolving commitments under the Bank Credit Agreement were extended to April 21, 2027, with the remaining $37.5 million continuing to mature on December 4, 2025. For the nine months ended September 30, 2022, we capitalized an original issuance discount of $23 million associated with the issuance of the Term Loan B-4, which is reflected as a reduction to the outstanding debt balance and will be recognized as interest expense over the term of the outstanding debt utilizing the effective interest method. The balance of the Term Loan B-4 was $726 million, net of debt discount and deferred financing costs, as of September 30, 2022. We recognized a loss on extinguishment of $10 million for the nine months ended September 30, 2022. During the nine months ended September 30, 2022, we purchased $118 million aggregate principal amount of STG's 5.125% senior notes due 2027 (the "STG 5.125% Notes") in open market transactions for consideration of $104 million. The STG 5.125% Notes acquired during the nine months ended September 30, 2022 were canceled immediately following their acquisition. We recognized a gain on extinguishment of the STG 5.125% Notes of $13 million for the nine months ended September 30, 2022. The debt of DSIH was deconsolidated from our balance sheet as part of the Deconsolidation. See Deconsolidation of Diamond Sports Intermediate Holdings LLC within Note 1. Nature of Operations and Summary of Significant Accounting Policies. Finance leases to affiliates The current portion of notes payable, finance leases, and commercial bank financing in our consolidated balance sheets includes finance leases to affiliates of $2 million and $3 million as of September 30, 2022 and December 31, 2021, respectively. Notes payable, finance leases, and commercial bank financing, less current portion, in our consolidated balance sheets includes finances leases to affiliates of $5 million and $6 million as of September 30, 2022 and December 31, 2021, respectively. See Note 10. Related Person Transactions. Debt of variable interest entities and guarantees of third-party obligations STG jointly, severally, unconditionally, and irrevocably guaranteed $35 million and $39 million of debt of certain third parties as of September 30, 2022 and December 31, 2021, respectively, of which $8 million and $9 million, net of deferred financing costs, related to consolidated VIEs is included in our consolidated balance sheets as of September 30, 2022 and December 31, 2021, respectively. These guarantees primarily relate to the debt of Cunningham Broadcasting Corporation (Cunningham) as discussed under Cunningham Broadcasting Corporation within Note 10. Related Person Transactions

REDEEMABLE NONCONTROLLING INTER

REDEEMABLE NONCONTROLLING INTERESTS	9 Months Ended
	Sep. 30, 2022
Temporary Equity Disclosure [Abstract]
REDEEMABLE NONCONTROLLING INTERESTS	REDEEMABLE NONCONTROLLING INTERESTS: We account for redeemable noncontrolling interests in accordance with ASC 480, Distinguishing Liabilities from Equity , and classify them as mezzanine equity in our consolidated balance sheets because their possible redemption is outside of the control of the Company. Our redeemable non-controlling interests consist of the following: Redeemable Subsidiary Preferred Equity . On August 23, 2019, Diamond Sports Holdings LLC ("DSH"), an indirect parent of DSG and indirect wholly-owned subsidiary of the Company, issued preferred equity (the "Redeemable Subsidiary Preferred Equity"). Dividends that accrued to the Redeemable Subsidiary Preferred Equity for the three and nine months ended September 30, 2022 were $3 million and $9 million, respectively, and for the three and nine months ended September 30, 2021 were $4 million and $11 million, respectively, and are reflected in net income attributable to the redeemable controlling interests in our consolidated statements of operations. The dividends paid in cash accrue at a rate equal to 1-month LIBOR (with a 0.75% floor) plus 8.0%, which is 0.5% lower than the rate payable if the dividends were paid-in-kind during the quarter. Dividends accrued during the three and nine months ended September 30, 2022 and both the three months ended September 30, 2021 and June 30, 2021 were paid-in-kind and added to the liquidation preference, which was partially offset by certain required cash tax distributions. The balance of the Redeemable Subsidiary Preferred Equity, net of issuance costs, was $190 million and $181 million as of September 30, 2022 and December 31, 2021, respectively. The liquidation preference of the Redeemable Subsidiary Preferred Equity was $194 million and $185 million as of September 30, 2022 and December 31, 2021, respectively. Subsidiary Equity Put Right. A noncontrolling equity holder of DSIH has the right to sell their interest to DSIH at any time during the 30-day period following September 30, 2025. The value of this redeemable noncontrolling interest was $16 million as of December 31, 2021. This redeemable noncontrolling interest was deconsolidated as part of the Deconsolidation. See Deconsolidation of Diamond Sports Intermediate Holdings LLC within Note 1. Nature of Operations and Summary of Significant Accounting Policies.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	9 Months Ended
	Sep. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES: Other Liabilities Prior to the Deconsolidation, other liabilities included certain fixed payment obligations which were payable through 2027. As of December 31, 2021, $32 million and $71 million were recorded within other current liabilities and other long-term liabilities, respectively, in our consolidated balance sheets. We recorded interest expense of $1 million for the nine months ended September 30, 2022 and $2 million and $5 million for the three and nine months ended September 30, 2021, respectively. See Deconsolidation of Diamond Sports Intermediate Holdings LLC within Note 1. Nature of Operations and Summary of Significant Accounting Policies. Prior to the Deconsolidation, other liabilities included certain variable payment obligations which were payable through 2030. These contractual obligations were based upon the excess cash flow of certain Bally RSNs. As of December 31, 2021, $8 million and $23 million were recorded within other current liabilities and other long-term liabilities, respectively, in our consolidated balance sheets. We recorded measurement adjustment losses of $3 million for the nine months ended September 30, 2022 and $1 million and $4 million for the three and nine months ended September 30, 2021, respectively, which are reflected in other income (expense), net in our consolidated statements of operations. See Deconsolidation of Diamond Sports Intermediate Holdings LLC within Note 1. Nature of Operations and Summary of Significant Accounting Policies. 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 our financial statements. FCC Litigation Matters On May 22, 2020, the FCC released an Order and Consent Decree pursuant to which the Company agreed to pay $48 million to resolve the matters covered by a Notice of Apparent Liability for Forfeiture ("NAL") issued in December 2017 proposing a $13 million fine for alleged violations of the FCC's sponsorship identification rules by the Company and certain of its subsidiaries, the FCC’s investigation of the allegations raised in the Hearing Designation Order issued in connection with the Company's proposed acquisition of Tribune, and a retransmission related matter. The Company submitted the $48 million payment on August 19, 2020. As part of the consent decree, the Company also agreed to implement a 4-year compliance plan. Two petitions were filed on June 8, 2020 seeking reconsideration of the Order and Consent Decree. The Company filed an opposition to the petitions on June 18, 2020, and the petitions remain pending. On September 1, 2020, one of the individuals who filed a petition for reconsideration of the Order and Consent Decree filed a petition to deny the license renewal application of WBFF(TV), Baltimore, MD, and the license renewal applications of two other Baltimore, MD stations with which the Company has a JSA or LMA, Deerfield Media station WUTB(TV) and Cunningham station WNUV(TV). The Company filed an opposition to the petition on October 1, 2020, and the petition remains pending. On September 2, 2020, the FCC adopted a Memorandum Opinion and Order and NAL against the licensees of several stations with whom the Company has LMAs, JSAs, and/or SSAs in response to a complaint regarding those stations’ retransmission consent negotiations. The NAL proposed a $0.5 million penalty for each station, totaling $9 million. The licensees filed a response to the NAL on October 15, 2020, asking the Commission to dismiss the proceeding or, alternatively, to reduce the proposed forfeiture to $25,000 per station. On July 28, 2021, the FCC issued a forfeiture order in which the $0.5 million penalty was upheld for all but one station. A Petition for Reconsideration of the forfeiture order was filed on August 7, 2021. On March 14, 2022, the Commission released a Memorandum Opinion and Order and Order on Reconsideration, reaffirming the forfeiture order and dismissing (and in the alternative, denying) the Petition for Reconsideration. The Company is not a party to this forfeiture order; however, our consolidated financial statements include an accrual of additional expenses of $8 million for the above legal matters during the year ended December 31, 2021, as we consolidate these stations as VIEs. On September 21, 2022, the FCC released an NAL against the licensees of a number of stations, including 83 Company stations and several stations with whom the Company has LMAs, JSAs, and/or SSAs, for violation of the FCC's limitations on commercial matter in children’s television programming related to KidsClick network programming distributed by the Company in 2018. The NAL proposed a fine of $2.7 million against the Company, and fines ranging from $20,000 to $26,000 per station for the other licensees, including the LMA, JSA, and/or SSA stations, for a total of $3.4 million. As of September 30, 2022, we have accrued $3.4 million. On October 21, 2022, the Company filed a written response seeking reduction of the proposed fine amount, and the matter remains pending. Other Litigation Matters On November 6, 2018, the Company agreed to enter into a proposed consent decree with the Department of Justice (the "DOJ"). This consent decree resolves the DOJ’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 the Company 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 DOJ has required in previous consent decrees in other industries. The consent decree also requires the Company's 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 thirteen 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 Court denied the Defendants’ motion to dismiss on November 6, 2020. Since then, the Plaintiffs have served the Defendants with written discovery requests, and the Court has set a pretrial schedule which now requires discovery to be completed by December 30, 2022 and briefing on class certification to be completed by May 15, 2023. The Company believes the lawsuits are without merit and intends to vigorously defend itself against all such claims.

EARNINGS PER SHARE

EARNINGS PER SHARE	9 Months Ended
	Sep. 30, 2022
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 millions, except share amounts which are reflected in thousands): Three Months Ended Nine Months Ended 2022 2021 2022 2021 Income (Numerator) Net income (loss) $ 29 $ 17 $ 2,639 $ (285) Net income attributable to the redeemable noncontrolling interests (5) (4) (14) (13) Net (income) loss attributable to the noncontrolling interests (3) 6 (28) (27) Numerator for basic and diluted earnings (loss) per common share available to common shareholders $ 21 $ 19 $ 2,597 $ (325) Shares (Denominator) Basic weighted-average common shares outstanding 69,907 75,472 70,981 75,068 Dilutive effect of stock-settled appreciation rights and outstanding stock options — 44 4 — Diluted weighted-average common and common equivalent shares outstanding 69,907 75,516 70,985 75,068 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 Nine Months Ended 2022 2021 2022 2021 Weighted-average stock-settled appreciation rights and outstanding stock options excluded 3,645 1,670 3,278 1,629

SEGMENT DATA

SEGMENT DATA	9 Months Ended
	Sep. 30, 2022
Segment Reporting [Abstract]
SEGMENT DATA	SEGMENT DATA: During the period ended September 30, 2022, we measured segment performance based on operating income (loss). For the quarter ended September 30, 2022, we had one reportable segment, broadcast. Prior to the Deconsolidation , we had two reportable segments, broadcast and local sports. Our broadcast segment provides free over-the-air programming to television viewing audiences for stations in markets located throughout the continental United States, as well as distributes the content of these stations to MVPDs for distribution to their customers in exchange for contractual fees. See Revenue Recognition under Note 1. Nature of Operations and Summary of Significant Accounting Policies for further detail. Our local sports segment provided viewers with live professional sports content and included our Bally RSNs, Marquee, and our investment in the YES Network, prior to the Deconsolidation on March 1, 2022. See Deconsolidation of Diamond Sports Intermediate Holdings LLC under Note 1. Nature of Operations and Summary of Significant Accounting Policies. Other and corporate are not reportable segments but are included for reconciliation purposes. Other primarily consists of original networks and content, including Tennis, non-broadcast digital and internet solutions, technical services, and other non-media investments. Corporate costs primarily include our costs to operate as a public company and to operate our corporate headquarters and shared services locations. All of our businesses are located within the United States. Segment financial information is included in the following tables for the periods presented (in millions): As of September 30, 2022 Broadcast Local sports Other & Corporate Eliminations Consolidated Assets $ 4,609 $ — $ 1,999 (e) $ (3) $ 6,605 For the three months ended September 30, 2022 Broadcast Local sports Other & Corporate Eliminations Consolidated Revenue $ 753 (b) $ — $ 103 $ (13) (a) $ 843 Depreciation of property and equipment and amortization of definite-lived intangibles and other assets 60 — 7 — 67 Amortization of program contract costs 17 — 5 — 22 Corporate general and administrative expenses 17 — 13 — 30 Gain on asset dispositions and other, net of impairment (7) — (21) — (28) Operating income 152 — 5 (3) 154 Interest expense including amortization of debt discount and deferred financing costs — — 61 (2) 59 Income from equity method investments — — 33 — 33 For the three months ended September 30, 2021 Broadcast Local sports Other & Corporate Eliminations Consolidated Revenue $ 701 $ 759 $ 117 $ (42) (a) $ 1,535 Depreciation of property and equipment and amortization of definite-lived intangibles and other assets 61 79 9 (1) 148 Amortization of sports programming rights — 531 — — 531 Amortization of program contract costs 18 — 4 — 22 Corporate general and administrative expenses 30 2 3 — 35 (Gain) loss on asset dispositions and other, net of impairment (6) — 2 — (4) Operating income (loss) 126 (39) (12) (2) 73 Interest expense including amortization of debt discount and deferred financing costs 1 109 48 (3) 155 Income from equity method investments — 12 — — 12 For the nine months ended September 30, 2022 Broadcast Local sports Other & Corporate Eliminations Consolidated Revenue $ 2,206 (b) $ 482 $ 368 $ (88) (a) $ 2,968 Depreciation of property and equipment and amortization of definite-lived intangibles and other assets 180 54 23 (2) 255 Amortization of sports programming rights — 326 — — 326 Amortization of program contract costs 55 — 13 — 68 Corporate general and administrative expenses 93 1 21 — 115 Gain on deconsolidation of subsidiary — — (3,357) (c) — (3,357) Gain on asset dispositions and other, net of impairment (12) — (25) — (37) Operating income (loss) 367 (4) 3,364 — 3,727 Interest expense including amortization of debt discount and deferred financing costs 2 72 164 (10) 228 Income from equity method investments — 10 38 — 48 For the nine months ended September 30, 2021 Broadcast Local sports (d) Other & Corporate Eliminations Consolidated Revenue $ 2,053 $ 2,365 $ 345 $ (105) (a) $ 4,658 Depreciation of property and equipment and amortization of definite-lived intangibles and other assets 187 241 23 (3) 448 Amortization of sports programming rights — 1,912 — — 1,912 Amortization of program contract costs 56 — 11 — 67 Corporate general and administrative expenses 114 8 10 — 132 Gain on asset dispositions and other, net of impairment (23) — (3) — (26) Operating income (loss) 294 (368) 5 (1) (70) Interest expense including amortization of debt discount and deferred financing costs 3 327 144 (8) 466 Income (loss) from equity method investments — 35 (12) — 23 (a) Includes $1 million and $26 million for the three and nine months ended September 30, 2022, respectively, and $28 million and $82 million for the three and nine months ended September 30, 2021, respectively, of revenue for services provided by broadcast to local sports and other; and $8 million and $51 million for the three and nine months ended September 30, 2022, respectively, of revenue for services provided by other to broadcast, which are eliminated in consolidation. (b) Includes $12 million and $27 million for the three and nine months ended September 30, 2022, respectively, of revenue for services provided by broadcast under management services agreements after the Deconsolidation, which is not eliminated in consolidation. See Deconsolidation of Diamond Sports Intermediate Holdings LLC within Note 1. Nature of Operations and Summary of Significant Accounting Policies. (c) Represents the gain recognized on the Deconsolidation. See Deconsolidation of Diamond Sports Intermediate Holdings LLC within Note 1. Nature of Operations and Summary of Significant Accounting Policies. (d) Represents the activity prior to the Deconsolidation on March 1, 2022. See Deconsolidation of Diamond Sports Intermediate Holdings LLC within Note 1. Nature of Operations and Summary of Significant Accounting Policies. (e) Includes the note receivable due to the Company outstanding under the A/R facility of approximately $193 million. See Long Term Note Receivable within Note. 3 Other Assets .

VARIABLE INTEREST ENTITIES

VARIABLE INTEREST ENTITIES	9 Months Ended
	Sep. 30, 2022
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. A subsidiary of DSIH is a party to a joint venture associated with Marquee. Marquee is party to a long term telecast rights agreement which provides the rights to air certain live game telecasts and other content, which we guarantee. In connection with a prior acquisition, we became party to a joint venture associated with one other regional sports network. DSIH participated significantly in the economics and had the power to direct the activities which significantly impacted the economic performance of these regional sports networks, including sales and certain operational services. As of December 31, 2021, we consolidated these regional sports networks because they were variable interest entities and we were the primary beneficiary. As of March 1, 2022, as a result of the Deconsolidation, we no longer consolidate these regional sports networks. See Deconsolidation of Diamond Sports Intermediate Holdings LLC within Note 1. Nature of Operations and Summary of Significant Accounting Policies. 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 millions): As of September 30, As of December 31, ASSETS Current assets: Cash and cash equivalents $ — $ 43 Accounts receivable, net 45 83 Prepaid sports rights — 2 Other current assets 4 4 Total current assets 49 132 Property and equipment, net 7 17 Operating lease assets — 5 Goodwill and indefinite-lived intangible assets 15 15 Definite-lived intangible assets, net 42 47 Other assets — 1 Total assets $ 113 $ 217 LIABILITIES Current liabilities: Other current liabilities $ 22 $ 62 Long-term liabilities: Operating lease liabilities, less current portion — 4 Program contracts payable, less current portion 1 2 Other long-term liabilities 3 4 Total liabilities $ 26 $ 72 The amounts above represent the combined 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 $129 million and $127 million as of September 30, 2022 and December 31, 2021, 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 September 30, 2022, 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 obligations under Note 4. Notes Payable, Finance Leases, 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. In conjunction with the Transaction, the composition of the DSIH board of managers was modified resulting in our loss of voting control over DSIH. We hold substantially all of the equity of DSIH and provide certain management and general and administrative services to DSIH. However, it was determined that we are not the primary beneficiary because we lack the ability to control the activities that most significantly drive the economics of the business. The carrying amount of our investment in DSIH is zero and there is no obligation for us to provide additional financial support. We are also party to an A/R facility held by DSIH which had an outstanding balance of approximately $193 million as of September 30, 2022. See Note Receivable within Note 3. Other Assets . The amounts drawn under the A/R facility represent our maximum loss exposure. The carrying amounts of our investments in these VIEs for which we are not the primary beneficiary were $186 million and $175 million as of September 30, 2022 and December 31, 2021, respectively, and are included in other assets in our consolidated balance sheets. See Note 3. Other Assets for more information related to our equity investments. 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 income from equity method investments and other income (expense), net, respectively, in our consolidated statements of operations. We recorded gains of $33 million and $58 million for the three and nine months ended September 30, 2022, respectively, and gains of $32 million and $20 million for the three and nine months ended September 30, 2021, respectively, related to these investments.

RELATED PERSON TRANSACTIONS

RELATED PERSON TRANSACTIONS	9 Months Ended
	Sep. 30, 2022
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 $2 million and $5 million for the three and nine months ended September 30, 2022, respectively, and $1 million and $4 million for the three and nine months ended September 30, 2021, respectively. For further information, see Note 4. Notes Payable, Finance Leases, and Commercial Bank Financing . Charter Aircraft. We lease aircraft owned by certain controlling shareholders. For all leases, we incurred expenses of less than $0.1 million and $0.3 million for the three and nine months ended September 30, 2022, respectively. We incurred expenses of $0.2 million and $0.4 million for the three and nine months ended September 30, 2021, 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 9. Variable Interest Entities , for further discussion of the scope of services provided under these types of arrangements. As of September 30, 2022, we have jointly and severally, unconditionally, and irrevocably guaranteed $33 million of Cunningham's debt, of which $6 million, net of less than $0.1 million deferred financing costs, relates to the Cunningham VIEs that we consolidate. All of the non-voting stock of the Cunningham Stations 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, 2028 and there is one additional five-year renewal term 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 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 $60 million and $58 million as of September 30, 2022 and December 31, 2021, respectively. The remaining aggregate purchase price of these stations, net of prepayments, as of both September 30, 2022 and December 31, 2021, was approximately $54 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, $3 million and $7 million for the three and nine months ended September 30, 2022, respectively, and $3 million and $8 million for the three and nine months ended September 30, 2021, 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 May 2023 and November 2029 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 in our consolidated statements of operations. Our consolidated revenues include $40 million and $111 million for the three and nine months ended September 30, 2022, respectively, and $35 million and $107 million for the three and nine months ended September 30, 2021, respectively, related to the Cunningham Stations. We have 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 2025. Under the agreement, Cunningham paid us an initial fee of $1 million and pays us $0.3 million annually for master control services plus the cost to maintain and repair the equipment. In addition, we have an agreement with Cunningham to provide a news share service with the Johnstown, PA station for an annual fee of $0.6 million, which increases by 3% on each anniversary and expires in November 2024. 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 all of the three and nine months ended September 30, 2022 and 2021. 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 payments received under these leases were $0.3 million and $0.8 million for the three and nine months ended September 30, 2022, respectively, and $0.3 million and $0.7 million for the three and nine months ended September 30, 2021, respectively. Diamond Sports Intermediate Holdings LLC Subsequent to February 28, 2022, we accounted for our equity interest in DSIH as an equity method investment. See Deconsolidation of Diamond Sports Intermediate Holdings LLC within Note 1. Nature of Operations and Summary of Significant Accounting Policies. Management Services Agreement. In 2019, we entered into a management services agreement with DSG, a wholly-owned subsidiary of DSIH, in which we provide DSG with affiliate sales and marketing services and general and administrative services. The contractual annual amount due from DSG for these services during the fiscal year ended December 31, 2022 is $75 million, which is subject to increases on an annual basis. Additionally, the agreement contains an incentive fee payable to us calculated based on certain terms contained within new or renewed distribution agreements with Distributors. As a condition to the Transaction, DSG will defer the cash payment of a portion of its management fee payable to the Company over the next five years. Pursuant to this agreement, the Broadcast segment recorded $11 million and $49 million of revenue for the three and nine months ended September 30, 2022, respectively, of which $24 million for the nine months ended September 30, 2022 was eliminated in consolidation prior to the Deconsolidation. We will not recognize the portion of deferred management fees as revenue until such fees are determined to be collectible. Distributions . DSIH made distributions to DSH for tax payments on the dividends of the Redeemable Subsidiary Preferred Equity of $2 million and $5 million during the three and nine months ended September 30, 2022, respectively. Note receivable . We received payments totaling $60 million from DSPV during the nine months ended September 30, 2022 and funded an additional $40 million during the nine months ended September 30, 2022 related to the note receivable associated with the A/R facility. During the three and nine months ended September 30, 2022 we recorded revenue of $5 million and $10 million, respectively, within other related to certain other transactions between DSIH and the Company. Other equity method investees YES Network. In August 2019, YES Network, which was accounted for as an equity method investment prior to the Deconsolidation, entered into a management services agreement with the Company, in which we provide certain services for an initial term that expires on August 29, 2025. The agreement will automatically renew for two 2-year renewal terms, with a final expiration on August 29, 2029. Pursuant to the terms of the agreement, the YES Network paid us a management services fee of $1 million for the nine months ended September 30, 2022 and $1 million and $4 million for the three and nine months ended September 30, 2021, respectively. See Deconsolidation of Diamond Sports Intermediate Holdings LLC within Note 1. Nature of Operations and Summary of Significant Accounting Policies. DSIH has a minority interest in certain mobile production businesses. Prior to the Deconsolidation, we accounted for these as equity method investments. DSIH made payments to these businesses for production services totaling $5 million for the nine months ended September 30, 2022 and $13 million and $37 million for the three and nine months ended September 30, 2021, respectively. See Deconsolidation of Diamond Sports Intermediate Holdings LLC within Note 1. Nature of Operations and Summary of Significant Accounting Policies. We have a minority interest in a sports marketing company, which we account for as an equity method investment. We made payments to this business for marketing services totaling $2 million for the nine months ended September 30, 2022 and $5 million and $15 million for the three and nine months ended September 30, 2021, respectively. Sports Programming Rights Affiliates of six professional teams have non-controlling equity interests in certain of DSIH's RSNs. DSIH paid $61 million, net of rebates, for the nine months ended September 30, 2022 and $118 million and $377 million for the three and nine months ended September 30, 2021, respectively, under sports programming rights agreements covering the broadcast of regular season games associated with these professional teams. Prior to the Deconsolidation, these payments were recorded in our consolidated statements of operations and cash flows. See Deconsolidation of Diamond Sports Intermediate Holdings LLC within Note 1. Nature of Operations and Summary of Significant Accounting Policies. Employees Jason Smith, an employee of the Company, is the son of Frederick Smith. Frederick Smith is a Vice President of the Company and a member of the Company's Board of Directors. Jason Smith received total compensation of $0.2 million and $0.1 million for the three months ended September 30, 2022 and 2021, respectively, and $0.4 million and $0.2 million for the nine months ended September 30, 2022 and 2021, respectively, consisting of salary and bonus, and was granted 2,239 shares of restricted stock, vesting over two years, during the nine months ended September 30, 2021. Amberly Thompson, an employee of the Company, is the daughter of Donald Thompson. Donald Thompson is an Executive Vice President and Chief Human Resources Officer of the Company. Amberly Thompson received total compensation of less than $0.1 million for both the three months ended September 30, 2022 and 2021 and $0.1 million for both the nine months ended September 30, 2022 and 2021, consisting of salary and bonus. Edward Kim, an employee of the company, is the brother-in-law of Christopher Ripley. Christopher Ripley is the President and Chief Executive Officer of the Company. Edward Kim received total compensation of less than $0.1 million for both the three months ended September 30, 2022 and 2021 and $0.1 million for both the nine months ended September 30, 2022 and 2021, consisting of salary, and was granted 302 shares of restricted stock, vesting over two years, during the nine months ended September 30, 2022. Frederick Smith, a Vice President of the Company and a member of the Company’s Board of Directors, is the brother of David Smith, Executive Chairman of the Company and Chairman of the Company’s Board of Directors; J. Duncan Smith, a Vice President of the Company and Secretary of the Company’s Board of Directors; and Robert Smith, a member of the Company’s Board of Directors. Frederick Smith received total compensation of $0.2 million for both the three months ended September 30, 2022 and 2021 and $0.6 million for both the nine months ended September 30, 2022 and 2021, consisting of salary and bonus. J. Duncan Smith, a Vice President of the Company and Secretary of the Company’s Board of Directors, is the brother of David Smith, Executive Chairman of the Company and Chairman of the Company’s Board of Directors; Frederick Smith, a Vice President of the Company and a member of the Company’s Board of Directors; and Robert Smith, a member of the Company’s Board of Directors. J. Duncan Smith received total compensation of $0.2 million for both the three months ended September 30, 2022 and 2021 and $0.6 million for both the nine months ended September 30, 2022 and 2021, consisting of salary and bonus.

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	9 Months Ended
	Sep. 30, 2022
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 financial assets and liabilities for the periods presented (in millions): As of September 30, 2022 As of December 31, 2021 Face Value Fair Value Face Value Fair Value Level 1: Investments in equity securities $ 5 $ 5 $ 5 $ 5 Deferred compensation assets 38 38 48 48 Deferred compensation liabilities 32 32 38 38 STG: Money market funds 467 467 265 265 DSG (a): Money market funds — — 101 101 Level 2: Investments in equity securities (b) 59 59 114 114 STG (c): 5.875% Senior Notes due 2026 (d) — — 348 357 5.500% Senior Notes due 2030 500 359 500 489 5.125% Senior Notes due 2027 (e) 282 233 400 391 4.125% Senior Secured Notes due 2030 750 565 750 712 Term Loan B-1, due January 3, 2024 (d) — — 379 373 Term Loan B-2, due September 30, 2026 1,261 1,188 1,271 1,239 Term Loan B-3, due April 1, 2028 731 683 736 722 Term Loan B-4, due April 21, 2029 (d) 748 703 — — DSG (a) (c): 12.750% Senior Secured Notes due 2026 — — 31 17 6.625% Senior Unsecured Notes due 2027 — — 1,744 490 5.375% Senior Secured Notes due 2026 — — 3,050 1,525 Term Loan, due August 24, 2026 — — 3,226 1,484 Debt of variable interest entities (c) 8 8 9 9 Debt of non-media subsidiaries (c) 16 16 17 17 Level 3: Investments in equity securities (f) 152 152 282 282 (a) The debt of DSG, a wholly-owned subsidiary of DSIH, was deconsolidated from our balance sheet as part of the Deconsolidation. See Deconsolidation of Diamond Sports Intermediate Holdings LLC within Note 1. Nature of Operations and Summary of Significant Accounting Policies . (b) Consists of unrestricted warrants to acquire marketable common equity securities. The fair value of the warrants are derived from the quoted trading prices of the underlying common equity securities less the exercise price. (c) Amounts are carried in our consolidated balance sheets net of debt discount, premium, and deferred financing cost, which are excluded in the above table, of $58 million and $158 million as of September 30, 2022 and December 31, 2021, respectively. (d) In April 2022, STG raised Term B-4 Loans in an aggregate principal amount of $750 million, the proceeds of which were used to refinance all of STG’s outstanding Term Loan B-1 due January 2024 and to redeem STG’s outstanding 5.875% senior notes due 2026. See Note 4. Notes Payable, Finance Leases, and Commercial Bank Financing . (e) During the nine months ended September 30, 2022, we purchased $118 million aggregate principal amount of the STG 5.125% Notes in open market transactions for consideration of $104 million. The STG 5.125% Notes acquired during the nine months ended September 30, 2022 were canceled immediately following their acquisition. See Note 4. Notes Payable, Finance Leases, and Commercial Bank Financing . (f) On November 18, 2020, we entered into a commercial agreement with Bally's Corporation ("Bally's") and received warrants and options to acquire common equity in the business. During the three and nine months ended September 30, 2022 we recorded fair value adjustment losses of $0.2 million and $130 million, respectively, and during the three and nine months ended September 30, 2021 we recorded a fair value adjustment loss of $30 million and a gain of $22 million, respectively, related to these interests. The fair value of the warrants is primarily derived from the quoted trading prices of the underlying common equity adjusted for a 12% and 16% discount for lack of marketability ("DLOM") as of September 30, 2022 and December 31, 2021, respectively. The fair value of the options is derived utilizing the Black Scholes valuation model. The most significant inputs include the trading price of the underlying common stock, the exercise price of the options, which range from $30 to $45 per share, and a DLOM of 12% and 16% as of September 30, 2022 and December 31, 2021, respectively. There are certain restrictions surrounding the sale and ownership of common stock and we have agreed not to sell any shares beneficially owned prior to the first anniversary of the agreement. We are also precluded from owning more than 4.9% of the outstanding common shares of Bally's, inclusive of shares obtained through the exercise of the warrants and options described above. The following table summarizes the changes in financial assets measured at fair value on a recurring basis and categorized as Level 3 under the fair value hierarchy for the three and nine months ended September 30, 2022 and 2021 (in millions): Options and Warrants Three Months Ended September 30, 2022 Nine Months Ended September 30, 2022 Fair value at June 30, 2022 $ 152 Fair value at December 31, 2021 $ 282 Measurement adjustments — Measurement adjustments (130) Fair value at September 30, 2022 $ 152 Fair value at September 30, 2022 $ 152 Options and Warrants Three Months Ended September 30, 2021 Nine Months Ended September 30, 2021 Fair value at June 30, 2021 $ 384 Fair value at December 31, 2020 $ 332 Measurement adjustments (30) Measurement adjustments 22 Fair value at September 30, 2021 $ 354 Fair value at September 30, 2021 $ 354

CONDENSED CONSOLIDATING FINANCI

CONDENSED CONSOLIDATING FINANCIAL STATEMENTS	9 Months Ended
	Sep. 30, 2022
Condensed Financial Information Disclosure [Abstract]
CONDENSED CONSOLIDATING FINANCIAL STATEMENTS	CONDENSED CONSOLIDATING FINANCIAL STATEMENTS: STG is the primary obligor under the Bank Credit Agreement, 5.125% Notes, 5.500% Notes, and 4.125% Secured Notes (collectively, the Notes are referred to as the "STG Notes"). Our Class A Common Stock and Class B Common Stock as of September 30, 2022, were obligations or securities of SBG and not obligations or securities of STG. SBG is a guarantor under the STG Notes. As of September 30, 2022, our consolidated total debt, net of deferred financing costs and debt discounts, of $4,269 million included $4,253 million related to STG and its subsidiaries of which we guaranteed $4,222 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. CONDENSED CONSOLIDATING BALANCE SHEET AS OF SEPTEMBER 30, 2022 (in millions) (unaudited) Sinclair Sinclair Guarantor Non- Eliminations Sinclair Cash and cash equivalents $ 33 $ 483 $ 1 $ 90 $ — $ 607 Accounts receivable, net — — 533 53 — 586 Other current assets 22 43 341 21 (57) 370 Total current assets 55 526 875 164 (57) 1,563 Property and equipment, net 1 32 661 48 (22) 720 Investment in equity of consolidated subsidiaries 851 3,090 — — (3,941) — Goodwill — — 2,081 7 — 2,088 Indefinite-lived intangible assets — — 136 14 — 150 Definite-lived intangible assets, net — — 977 44 (32) 989 Other long-term assets 546 917 392 1,141 (1,901) 1,095 Total assets $ 1,453 $ 4,565 $ 5,122 $ 1,418 $ (5,953) $ 6,605 Accounts payable and accrued liabilities $ — $ 92 $ 301 $ 20 $ (1) $ 412 Current portion of long-term debt — 28 6 10 (1) 43 Other current liabilities 2 3 197 88 (57) 233 Total current liabilities 2 123 504 118 (59) 688 Long-term debt — 4,185 25 378 (362) 4,226 Other long-term liabilities 745 55 1,507 318 (1,764) 861 Total liabilities 747 4,363 2,036 814 (2,185) 5,775 Redeemable noncontrolling interests — — — 190 — 190 Total Sinclair Broadcast Group equity 706 202 3,086 483 (3,771) 706 Noncontrolling interests in consolidated subsidiaries — — — (69) 3 (66) Total liabilities, redeemable noncontrolling interests, and equity $ 1,453 $ 4,565 $ 5,122 $ 1,418 $ (5,953) $ 6,605 CONDENSED CONSOLIDATING BALANCE SHEET AS OF DECEMBER 31, 2021 (in millions) Sinclair Sinclair Guarantor Non- Eliminations Sinclair Cash and cash equivalents $ 2 $ 316 $ 2 $ 496 $ — $ 816 Accounts receivable, net — — 649 596 — 1,245 Other current assets 10 82 293 136 (111) 410 Total current assets 12 398 944 1,228 (111) 2,471 Property and equipment, net 1 31 664 161 (24) 833 Investment in equity of consolidated subsidiaries 451 3,448 — — (3,899) — Restricted cash — — — 3 — 3 Goodwill — — 2,081 7 — 2,088 Indefinite-lived intangible assets — — 136 14 — 150 Definite-lived intangible assets, net — — 1,105 4,019 (36) 5,088 Other long-term assets 331 1,956 427 1,853 (2,659) 1,908 Total assets $ 795 $ 5,833 $ 5,357 $ 7,285 $ (6,729) $ 12,541 Accounts payable and accrued liabilities $ 31 $ 85 $ 295 $ 279 $ (35) $ 655 Current portion of long-term debt — 20 5 45 (1) 69 Other current liabilities 2 6 155 392 (77) 478 Total current liabilities 33 111 455 716 (113) 1,202 Long-term debt 915 4,317 33 8,488 (1,482) 12,271 Investment in deficit of consolidated subsidiaries 1,605 — — — (1,605) — Other long-term liabilities 12 69 1,426 468 (1,398) 577 Total liabilities 2,565 4,497 1,914 9,672 (4,598) 14,050 Redeemable noncontrolling interests — — — 197 — 197 Total Sinclair Broadcast Group (deficit) equity (1,770) 1,336 3,443 (2,644) (2,135) (1,770) Noncontrolling interests in consolidated subsidiaries — — — 60 4 64 Total liabilities, redeemable noncontrolling interests, and equity $ 795 $ 5,833 $ 5,357 $ 7,285 $ (6,729) $ 12,541 CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME FOR THE THREE MONTHS ENDED SEPTEMBER 30, 2022 (in millions) (unaudited) Sinclair Sinclair Guarantor Non- Eliminations Sinclair Net revenue $ — $ 13 $ 813 $ 47 $ (30) $ 843 Media programming and production expenses — 2 375 38 (19) 396 Selling, general and administrative expenses 15 23 185 3 (6) 220 Depreciation, amortization and other operating (gains) expenses (9) 2 78 4 (2) 73 Total operating expenses 6 27 638 45 (27) 689 Operating (loss) income (6) (14) 175 2 (3) 154 Equity in earnings of consolidated subsidiaries 17 132 — — (149) — Interest expense — (58) (1) (3) 3 (59) Other income 11 — — 31 1 43 Total other income (expense) 28 74 (1) 28 (145) (16) Income tax (provision) benefit (1) 14 (41) (81) — (109) Net income (loss) 21 74 133 (51) (148) 29 Net income attributable to the redeemable noncontrolling interests — — — (5) — (5) Net income attributable to the noncontrolling interests — — — (3) — (3) Net income (loss) attributable to Sinclair Broadcast Group $ 21 $ 74 $ 133 $ (59) $ (148) $ 21 Comprehensive income (loss) $ 21 $ 74 $ 133 $ (51) $ (148) $ 29 CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME FOR THE THREE MONTHS ENDED SEPTEMBER 30, 2021 (in millions) (unaudited) Sinclair Sinclair Guarantor Non- Eliminations Sinclair Net revenue $ — $ 28 $ 758 $ 803 $ (54) $ 1,535 Media programming and production expenses — 1 366 671 (16) 1,022 Selling, general and administrative expenses 3 33 176 87 (36) 263 Depreciation, amortization and other operating expenses — 2 81 95 (1) 177 Total operating expenses 3 36 623 853 (53) 1,462 Operating (loss) income (3) (8) 135 (50) (1) 73 Equity in earnings of consolidated subsidiaries 21 113 — — (134) — Interest expense (3) (43) (1) (113) 5 (155) Other income (expense) 2 (3) (2) 14 (3) 8 Total other income (expense) 20 67 (3) (99) (132) (147) Income tax benefit (provision) 2 9 (16) 96 — 91 Net income (loss) 19 68 116 (53) (133) 17 Net income attributable to the redeemable noncontrolling interests — — — (4) — (4) Net loss attributable to the noncontrolling interests — — — 6 — 6 Net income (loss) attributable to Sinclair Broadcast Group $ 19 $ 68 $ 116 $ (51) $ (133) $ 19 Comprehensive income (loss) $ 19 $ 68 $ 116 $ (52) $ (133) $ 18 CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2022 (in millions) (unaudited) Sinclair Sinclair Guarantor Non- Eliminations Sinclair Net revenue $ — $ 53 $ 2,424 $ 624 $ (133) $ 2,968 Media programming and production expenses — 4 1,120 486 (53) 1,557 Selling, general and administrative expenses 21 109 590 72 (72) 720 Gain on deconsolidation of subsidiary (3,357) — — — — (3,357) Depreciation, amortization and other operating (gains) expenses (8) 5 246 86 (8) 321 Total operating (gains) expenses (3,344) 118 1,956 644 (133) (759) Operating income (loss) 3,344 (65) 468 (20) — 3,727 Equity in (loss) earnings of consolidated subsidiaries (33) 351 — — (318) — Interest expense (4) (155) (2) (82) 15 (228) Other income (expense) 21 (1) 3 (122) (5) (104) Total other (expense) income (16) 195 1 (204) (308) (332) Income tax (provision) benefit (731) 44 (115) 46 — (756) Net income (loss) 2,597 174 354 (178) (308) 2,639 Net income attributable to the redeemable noncontrolling interests — — — (14) — (14) Net income attributable to the noncontrolling interests — — — (28) — (28) Net income (loss) attributable to Sinclair Broadcast Group $ 2,597 $ 174 $ 354 $ (220) $ (308) $ 2,597 Comprehensive income (loss) $ 2,597 $ 174 $ 354 $ (175) $ (308) $ 2,642 CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2021 (in millions) (unaudited) Sinclair Sinclair Guarantor Non- Eliminations Sinclair Net revenue $ — $ 83 $ 2,207 $ 2,507 $ (139) $ 4,658 Media programming and production expenses — 3 1,073 2,354 (40) 3,390 Selling, general and administrative expenses 10 123 515 252 (93) 807 Depreciation, amortization and other operating expenses — 6 240 290 (5) 531 Total operating expenses 10 132 1,828 2,896 (138) 4,728 Operating (loss) income (10) (49) 379 (389) (1) (70) Equity in (loss) earnings of consolidated subsidiaries (267) 317 — — (50) — Interest expense (10) (135) (2) (337) 18 (466) Other (expense) income (61) 11 (24) 166 (10) 82 Total other (expense) income (338) 193 (26) (171) (42) (384) Income tax benefit (provision) 23 38 (31) 139 — 169 Net (loss) income (325) 182 322 (421) (43) (285) Net income attributable to the redeemable noncontrolling interests — — — (13) — (13) Net income attributable to the noncontrolling interests — — — (27) — (27) Net (loss) income attributable to Sinclair Broadcast Group $ (325) $ 182 $ 322 $ (461) $ (43) $ (325) Comprehensive (loss) income $ (325) $ 182 $ 322 $ (415) $ (43) $ (279) CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2022 (in millions) (unaudited) Sinclair Sinclair Guarantor Non- Eliminations Sinclair NET CASH FLOWS (USED IN) FROM OPERATING ACTIVITIES $ (91) $ (136) $ 757 $ (77) $ 5 $ 458 NET CASH FLOWS FROM (USED IN) INVESTING ACTIVITIES Acquisition of property and equipment — (3) (71) (3) 3 (74) Spectrum repack reimbursements — — 3 — — 3 Proceeds from the sale of assets — — 5 4 — 9 Deconsolidation of subsidiary cash — — — (315) — (315) Purchases of investments (46) (1) (3) (17) — (67) Distributions from investments 60 — 10 20 — 90 Other, net — 2 — — — 2 Net cash flows from (used in) investing activities 14 (2) (56) (311) 3 (352) NET CASH FLOWS FROM (USED IN) FINANCING ACTIVITIES Proceeds from notes payable and commercial bank financing — 728 — — — 728 Repayments of notes payable, commercial bank financing and finance leases — (848) (4) (2) — (854) Repurchase of outstanding Class A Common Stock (114) — — — — (114) Dividends paid on Class A and Class B Common Stock (53) — — — — (53) Dividends paid on redeemable subsidiary preferred equity — — — (5) — (5) Distributions to noncontrolling interests — — — (10) — (10) Increase (decrease) in intercompany payables 277 433 (698) (4) (8) — Other, net (2) (8) — — — (10) Net cash flows from (used in) financing activities 108 305 (702) (21) (8) (318) NET INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH 31 167 (1) (409) — (212) CASH, CASH EQUIVALENTS, AND RESTRICTED CASH, beginning of period 2 316 2 499 — 819 CASH, CASH EQUIVALENTS, AND RESTRICTED CASH, end of period $ 33 $ 483 $ 1 $ 90 $ — $ 607 CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2021 (in millions) (unaudited) Sinclair Sinclair Guarantor Non- Eliminations Sinclair NET CASH FLOWS FROM (USED IN) OPERATING ACTIVITIES $ 8 $ (100) $ 317 $ 6 $ 4 $ 235 NET CASH FLOWS USED IN INVESTING ACTIVITIES Acquisition of property and equipment — (1) (48) (15) 2 (62) Spectrum repack reimbursements — — 22 — — 22 Proceeds from the sale of assets — — 34 9 — 43 Purchases of investments (7) (12) (40) (185) — (244) Distributions from investments — — — 11 — 11 Other, net — — (2) 1 — (1) Net cash flows used in investing activities (7) (13) (34) (179) 2 (231) NET CASH FLOWS (USED IN) FROM FINANCING ACTIVITIES Proceeds from notes payable and commercial bank financing — 341 — 16 — 357 Repayments of notes payable, commercial bank financing and finance leases — (356) (5) (39) — (400) Dividends paid on Class A and Class B Common Stock (46) — — — — (46) Dividends paid on redeemable subsidiary preferred equity — — — (4) — (4) Distributions to noncontrolling interests, net — — — (63) — (63) Distributions to redeemable noncontrolling interests — — — (5) — (5) Increase (decrease) in intercompany payables 57 226 (268) (9) (6) — Other, net (12) (1) — (31) — (44) Net cash flows (used in) from financing activities (1) 210 (273) (135) (6) (205) NET INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH — 97 10 (308) — (201) CASH, CASH EQUIVALENTS, AND RESTRICTED CASH, beginning of period — 458 — 804 — 1,262 CASH, CASH EQUIVALENTS, AND RESTRICTED CASH, end of period $ — $ 555 $ 10 $ 496 $ — $ 1,061

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	9 Months Ended
	Sep. 30, 2022
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTS:In November 2022, our Board of Directors declared a quarterly dividend of $0.25 per share, payable on December 15, 2022 to holders of record at the close of business on December 1, 2022.

NATURE OF OPERATIONS AND SUMM_2

NATURE OF OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	9 Months Ended
	Sep. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of Operations	Nature of Operations Sinclair Broadcast Group, Inc. ("SBG," the "Company," or sometimes referred to as "we" or "our") is a diversified media company with national reach and a strong focus on providing high-quality content on our local television stations, digital platforms, and, prior to the Deconsolidation, as defined below in Deconsolidation of Diamond Sports Intermediate Holdings LLC, regional sports networks. The content, distributed through our broadcast platform and third-party platforms, consists of programming provided by third-party networks and syndicators, local news, college and professional sports, and other original programming produced by us. 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 media and non-media related investments.
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 VIEs for which we are the primary beneficiary. Noncontrolling interests represent a minority owner’s proportionate share of the equity in certain of our consolidated entities. Noncontrolling interests which may be redeemed by the holder, and the redemption is outside of our control, are presented as redeemable noncontrolling interests. 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 9. 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 nine months ended September 30, 2022 and 2021 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 (deficit) and redeemable noncontrolling interests, and consolidated statements of cash flows for these periods as adjusted for the adoption of recent accounting pronouncements. As permitted under the applicable rules and regulations of the Securities and Exchange Commission (the "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, 2021 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.
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. The impact of the war in Ukraine and the novel coronavirus ("COVID-19") continues to create significant uncertainty and disruption in the global economy and financial markets. It is reasonably possible that these uncertainties could further materially impact our estimates related to, but not limited to, revenue recognition, goodwill and intangible assets, program contract costs and income taxes. As a result, many of our estimates and assumptions require increased judgment and carry a higher degree of variability and volatility. Our estimates may change as new events occur and additional information emerges, and such changes are recognized or disclosed in our consolidated financial statements.
Recent Accounting Pronouncements	Recent Accounting Pronouncements In March 2020, the FASB issued guidance providing optional expedients and exceptions for applying GAAP to contracts, hedging relationships, and other transactions affected by the discontinuation of the London Interbank Offered Rate ("LIBOR") or by another reference rate expected to be discontinued. The guidance was effective for all entities immediately upon issuance of the update and may be applied prospectively to applicable transactions existing as of or entered into from the date of adoption through December 31, 2022. We adopted this guidance upon issuance and it did not have an impact on our consolidated financial statements.
Broadcast Television Programming	Broadcast Television Programming We have agreements with programming syndicators for the rights to television programming over contract periods, which generally run from one The rights to this programming are reflected in the accompanying consolidated balance sheets at the lower of unamortized cost or fair value. Program contract costs are amortized on a straight-line basis except for contracts greater than three years which are amortized utilizing an accelerated method. Program contract costs estimated by management to be amortized in the succeeding year are classified as current assets. Payments of program contract liabilities are typically made on a scheduled basis and are not affected by amortization or fair value adjustments. Fair value is determined utilizing a discounted cash flow model based on management’s expectation of future advertising revenues, net of sales commissions, to be generated by the program material. We assess our program contract costs on a quarterly basis to ensure the costs are recorded at the lower of unamortized cost or fair value.
Sports Programming Rights	Sports Programming Rights DSIH has multi-year program rights agreements that provide DSIH with the right to produce and telecast professional live sports games within a specified territory in exchange for a rights fee. Prior to the Deconsolidation, a prepaid asset was recorded for rights acquired related to future games upon payment of the contracted fee. The assets recorded for the acquired rights were classified as current or non-current based on the period when the games were expected to be aired. Liabilities were recorded for any program rights obligations that had been incurred but not yet paid at period end. We amortized these rights as an expense over each season based upon contractually stated rates. Amortization was accelerated in the event that the stated contractual rates over the term of the rights agreement resulted in an expense recognition pattern that was inconsistent with the projected growth of revenue over the contractual term. The National Basketball Association ("NBA") and the National Hockey League ("NHL") delayed the start of their 2020-2021 seasons until December 22, 2020 and January 13, 2021, respectively, and both leagues postponed games in the fourth quarter 2021 and rescheduled these games to be played in the first quarter 2022. The sports rights expense associated with these seasons was recognized over the modified term of these seasons.
Revenue Recognition	Distribution Revenue. We have agreements with multi-channel video programming distributors ("MVPD") and virtual MVPDs ("vMVPD," and together with MVPDs, "Distributors"). We generate distribution revenue through fees received from these Distributors for the right to distribute our stations, RSNs, and other properties. Distribution arrangements are generally governed by multi-year contracts and the underlying fees are based upon a contractual monthly rate per subscriber. These arrangements represent licenses of intellectual property; revenue is recognized as the signal or network programming is provided to our customers (as usage occurs) which corresponds with the satisfaction of our performance obligation. Revenue is calculated based upon the contractual rate multiplied by an estimated number of subscribers. Our customers will remit payments based upon actual subscribers a short time after the conclusion of a month, which generally does not exceed 120 days. Historical adjustments to subscriber estimates have not been material. Advertising Revenue. We generate advertising revenue primarily from the sale of advertising spots/impressions within our broadcast television, RSN, and digital 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.
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 nine months ended September 30, 2022 and 2021 is based on the estimated effective tax rate applicable for the full year after taking into account discrete tax items and the effects of the noncontrolling interests. We provide a valuation allowance for deferred tax assets if we determine that it is more likely than not that some or all of the deferred tax assets will not be realized. In evaluating our ability to realize net deferred tax assets, we consider all available evidence, both positive and negative, including our past operating results, tax planning strategies and forecasts of future taxable income. In considering these sources of taxable income, we must make certain judgments that are based on the plans and estimates used to manage our underlying businesses on a long-term basis. A valuation allowance has been provided for deferred tax assets related to interest expense carryforwards under the Internal Revenue Code (IRC) Section 163(j) and a substantial amount of our available state net operating loss 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 nine months ended September 30, 2022, was greater than the statutory rate primarily due to an increase in valuation allowance on deferred tax assets relating to deductibility of interest expense under the IRC Section 163(j). Our effective income tax rate for the nine months ended September 30, 2022, approximated our statutory rate. Our effective income tax rate for the three and nine months ended September 30, 2021 was greater than the statutory rate primarily due to a release of valuation allowance on deferred tax assets relating to deductibility of interest expense under the IRC Section 163(j), and a discrete benefit as a result of the CARES Act allowing for the 2020 federal net operating loss to be carried back to pre-2018 years when the federal tax rate was 35%. We do not believe that our liability for unrecognized tax benefits would be materially impacted, in the next twelve months, as a result of the expected statute of limitations expirations, the application of limits under available state administrative practice exceptions, and the resolution of examination issues and settlements with federal and certain state tax authorities.
Reclassifications	Reclassifications Certain reclassifications have been made to prior years' consolidated financial statements to conform to the current year's presentation.
Fair Value Measurements	Accounting guidance provides for valuation techniques, such as the market approach (comparable market prices), the income approach (present value of future income or cash flow), and the cost approach (cost to replace the service capacity of an asset or replacement cost). A fair value hierarchy using three broad levels prioritizes the inputs to valuation techniques used to measure fair value. The following is a brief description of those three levels: • Level 1: Observable inputs such as quoted prices (unadjusted) in active markets for identical assets or liabilities. • Level 2: Inputs other than quoted prices that are observable for the asset or liability, either directly or indirectly. These include quoted prices for similar assets or liabilities in active markets and quoted prices for identical or similar assets or liabilities in markets that are not active. • Level 3: Unobservable inputs that reflect the reporting entity’s own assumptions.

NATURE OF OPERATIONS AND SUMM_3

NATURE OF OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	9 Months Ended
	Sep. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Disaggregation of Revenue	The following table presents our revenue disaggregated by type and segment (in millions): For the three months ended September 30, 2022 Broadcast Local sports Other Eliminations Total Distribution revenue $ 381 $ — $ 44 $ — $ 425 Advertising revenue 339 — 46 (11) 374 Other media, non-media, and intercompany revenues 33 — 13 (2) 44 Total revenues $ 753 $ — $ 103 $ (13) $ 843 For the three months ended September 30, 2021 Broadcast Local sports Other Eliminations Total Distribution revenue $ 372 $ 633 $ 48 $ — $ 1,053 Advertising revenue 283 118 55 (10) 446 Other media, non-media, and intercompany revenues 46 8 14 (32) 36 Total revenues $ 701 $ 759 $ 117 $ (42) $ 1,535 For the nine months ended September 30, 2022 Broadcast Local sports Other Eliminations Total Distribution revenue $ 1,158 $ 433 $ 137 $ — $ 1,728 Advertising revenue 937 44 184 (54) 1,111 Other media, non-media, and intercompany revenues 111 5 47 (34) 129 Total revenues $ 2,206 $ 482 $ 368 $ (88) $ 2,968 For the nine months ended September 30, 2021 Broadcast Local sports Other Eliminations Total Distribution revenue $ 1,096 $ 1,997 $ 147 $ — $ 3,240 Advertising revenue 830 345 149 (16) 1,308 Other media, non-media, and intercompany revenues 127 23 49 (89) 110 Total revenues $ 2,053 $ 2,365 $ 345 $ (105) $ 4,658

OTHER ASSETS (Tables)

OTHER ASSETS (Tables)	9 Months Ended
	Sep. 30, 2022
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Schedule of Other Assets	Other assets as of September 30, 2022 and December 31, 2021 consisted of the following (in millions): As of September 30, As of December 31, Equity method investments $ 131 $ 517 Other investments 418 567 Note receivable 193 — Post-retirement plan assets 39 50 Other 168 274 Total other assets $ 949 $ 1,408

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	9 Months Ended
	Sep. 30, 2022
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 millions, except share amounts which are reflected in thousands): Three Months Ended Nine Months Ended 2022 2021 2022 2021 Income (Numerator) Net income (loss) $ 29 $ 17 $ 2,639 $ (285) Net income attributable to the redeemable noncontrolling interests (5) (4) (14) (13) Net (income) loss attributable to the noncontrolling interests (3) 6 (28) (27) Numerator for basic and diluted earnings (loss) per common share available to common shareholders $ 21 $ 19 $ 2,597 $ (325) Shares (Denominator) Basic weighted-average common shares outstanding 69,907 75,472 70,981 75,068 Dilutive effect of stock-settled appreciation rights and outstanding stock options — 44 4 — Diluted weighted-average common and common equivalent shares outstanding 69,907 75,516 70,985 75,068
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 Nine Months Ended 2022 2021 2022 2021 Weighted-average stock-settled appreciation rights and outstanding stock options excluded 3,645 1,670 3,278 1,629

SEGMENT DATA (Tables)

SEGMENT DATA (Tables)	9 Months Ended
	Sep. 30, 2022
Segment Reporting [Abstract]
Schedule of Segment Financial Information	Segment financial information is included in the following tables for the periods presented (in millions): As of September 30, 2022 Broadcast Local sports Other & Corporate Eliminations Consolidated Assets $ 4,609 $ — $ 1,999 (e) $ (3) $ 6,605 For the three months ended September 30, 2022 Broadcast Local sports Other & Corporate Eliminations Consolidated Revenue $ 753 (b) $ — $ 103 $ (13) (a) $ 843 Depreciation of property and equipment and amortization of definite-lived intangibles and other assets 60 — 7 — 67 Amortization of program contract costs 17 — 5 — 22 Corporate general and administrative expenses 17 — 13 — 30 Gain on asset dispositions and other, net of impairment (7) — (21) — (28) Operating income 152 — 5 (3) 154 Interest expense including amortization of debt discount and deferred financing costs — — 61 (2) 59 Income from equity method investments — — 33 — 33 For the three months ended September 30, 2021 Broadcast Local sports Other & Corporate Eliminations Consolidated Revenue $ 701 $ 759 $ 117 $ (42) (a) $ 1,535 Depreciation of property and equipment and amortization of definite-lived intangibles and other assets 61 79 9 (1) 148 Amortization of sports programming rights — 531 — — 531 Amortization of program contract costs 18 — 4 — 22 Corporate general and administrative expenses 30 2 3 — 35 (Gain) loss on asset dispositions and other, net of impairment (6) — 2 — (4) Operating income (loss) 126 (39) (12) (2) 73 Interest expense including amortization of debt discount and deferred financing costs 1 109 48 (3) 155 Income from equity method investments — 12 — — 12 For the nine months ended September 30, 2022 Broadcast Local sports Other & Corporate Eliminations Consolidated Revenue $ 2,206 (b) $ 482 $ 368 $ (88) (a) $ 2,968 Depreciation of property and equipment and amortization of definite-lived intangibles and other assets 180 54 23 (2) 255 Amortization of sports programming rights — 326 — — 326 Amortization of program contract costs 55 — 13 — 68 Corporate general and administrative expenses 93 1 21 — 115 Gain on deconsolidation of subsidiary — — (3,357) (c) — (3,357) Gain on asset dispositions and other, net of impairment (12) — (25) — (37) Operating income (loss) 367 (4) 3,364 — 3,727 Interest expense including amortization of debt discount and deferred financing costs 2 72 164 (10) 228 Income from equity method investments — 10 38 — 48 For the nine months ended September 30, 2021 Broadcast Local sports (d) Other & Corporate Eliminations Consolidated Revenue $ 2,053 $ 2,365 $ 345 $ (105) (a) $ 4,658 Depreciation of property and equipment and amortization of definite-lived intangibles and other assets 187 241 23 (3) 448 Amortization of sports programming rights — 1,912 — — 1,912 Amortization of program contract costs 56 — 11 — 67 Corporate general and administrative expenses 114 8 10 — 132 Gain on asset dispositions and other, net of impairment (23) — (3) — (26) Operating income (loss) 294 (368) 5 (1) (70) Interest expense including amortization of debt discount and deferred financing costs 3 327 144 (8) 466 Income (loss) from equity method investments — 35 (12) — 23 (a) Includes $1 million and $26 million for the three and nine months ended September 30, 2022, respectively, and $28 million and $82 million for the three and nine months ended September 30, 2021, respectively, of revenue for services provided by broadcast to local sports and other; and $8 million and $51 million for the three and nine months ended September 30, 2022, respectively, of revenue for services provided by other to broadcast, which are eliminated in consolidation. (b) Includes $12 million and $27 million for the three and nine months ended September 30, 2022, respectively, of revenue for services provided by broadcast under management services agreements after the Deconsolidation, which is not eliminated in consolidation. See Deconsolidation of Diamond Sports Intermediate Holdings LLC within Note 1. Nature of Operations and Summary of Significant Accounting Policies. (c) Represents the gain recognized on the Deconsolidation. See Deconsolidation of Diamond Sports Intermediate Holdings LLC within Note 1. Nature of Operations and Summary of Significant Accounting Policies. (d) Represents the activity prior to the Deconsolidation on March 1, 2022. See Deconsolidation of Diamond Sports Intermediate Holdings LLC within Note 1. Nature of Operations and Summary of Significant Accounting Policies. (e) Includes the note receivable due to the Company outstanding under the A/R facility of approximately $193 million. See Long Term Note Receivable within Note. 3 Other Assets .

VARIABLE INTEREST ENTITIES (Tab

VARIABLE INTEREST ENTITIES (Tables)	9 Months Ended
	Sep. 30, 2022
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 millions): As of September 30, As of December 31, ASSETS Current assets: Cash and cash equivalents $ — $ 43 Accounts receivable, net 45 83 Prepaid sports rights — 2 Other current assets 4 4 Total current assets 49 132 Property and equipment, net 7 17 Operating lease assets — 5 Goodwill and indefinite-lived intangible assets 15 15 Definite-lived intangible assets, net 42 47 Other assets — 1 Total assets $ 113 $ 217 LIABILITIES Current liabilities: Other current liabilities $ 22 $ 62 Long-term liabilities: Operating lease liabilities, less current portion — 4 Program contracts payable, less current portion 1 2 Other long-term liabilities 3 4 Total liabilities $ 26 $ 72

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	9 Months Ended
	Sep. 30, 2022
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 financial assets and liabilities for the periods presented (in millions): As of September 30, 2022 As of December 31, 2021 Face Value Fair Value Face Value Fair Value Level 1: Investments in equity securities $ 5 $ 5 $ 5 $ 5 Deferred compensation assets 38 38 48 48 Deferred compensation liabilities 32 32 38 38 STG: Money market funds 467 467 265 265 DSG (a): Money market funds — — 101 101 Level 2: Investments in equity securities (b) 59 59 114 114 STG (c): 5.875% Senior Notes due 2026 (d) — — 348 357 5.500% Senior Notes due 2030 500 359 500 489 5.125% Senior Notes due 2027 (e) 282 233 400 391 4.125% Senior Secured Notes due 2030 750 565 750 712 Term Loan B-1, due January 3, 2024 (d) — — 379 373 Term Loan B-2, due September 30, 2026 1,261 1,188 1,271 1,239 Term Loan B-3, due April 1, 2028 731 683 736 722 Term Loan B-4, due April 21, 2029 (d) 748 703 — — DSG (a) (c): 12.750% Senior Secured Notes due 2026 — — 31 17 6.625% Senior Unsecured Notes due 2027 — — 1,744 490 5.375% Senior Secured Notes due 2026 — — 3,050 1,525 Term Loan, due August 24, 2026 — — 3,226 1,484 Debt of variable interest entities (c) 8 8 9 9 Debt of non-media subsidiaries (c) 16 16 17 17 Level 3: Investments in equity securities (f) 152 152 282 282 (a) The debt of DSG, a wholly-owned subsidiary of DSIH, was deconsolidated from our balance sheet as part of the Deconsolidation. See Deconsolidation of Diamond Sports Intermediate Holdings LLC within Note 1. Nature of Operations and Summary of Significant Accounting Policies . (b) Consists of unrestricted warrants to acquire marketable common equity securities. The fair value of the warrants are derived from the quoted trading prices of the underlying common equity securities less the exercise price. (c) Amounts are carried in our consolidated balance sheets net of debt discount, premium, and deferred financing cost, which are excluded in the above table, of $58 million and $158 million as of September 30, 2022 and December 31, 2021, respectively. (d) In April 2022, STG raised Term B-4 Loans in an aggregate principal amount of $750 million, the proceeds of which were used to refinance all of STG’s outstanding Term Loan B-1 due January 2024 and to redeem STG’s outstanding 5.875% senior notes due 2026. See Note 4. Notes Payable, Finance Leases, and Commercial Bank Financing . (e) During the nine months ended September 30, 2022, we purchased $118 million aggregate principal amount of the STG 5.125% Notes in open market transactions for consideration of $104 million. The STG 5.125% Notes acquired during the nine months ended September 30, 2022 were canceled immediately following their acquisition. See Note 4. Notes Payable, Finance Leases, and Commercial Bank Financing . (f) On November 18, 2020, we entered into a commercial agreement with Bally's Corporation ("Bally's") and received warrants and options to acquire common equity in the business. During the three and nine months ended September 30, 2022 we recorded fair value adjustment losses of $0.2 million and $130 million, respectively, and during the three and nine months ended September 30, 2021 we recorded a fair value adjustment loss of $30 million and a gain of $22 million, respectively, related to these interests. The fair value of the warrants is primarily derived from the quoted trading prices of the underlying common equity adjusted for a 12% and 16% discount for lack of marketability ("DLOM") as of September 30, 2022 and December 31, 2021, respectively. The fair value of the options is derived utilizing the Black Scholes valuation model. The most significant inputs include the trading price of the underlying common stock, the exercise price of the options, which range from $30 to $45 per share, and a DLOM of 12% and 16% as of September 30, 2022 and December 31, 2021, respectively. There are certain restrictions surrounding the sale and ownership of common stock and we have agreed not to sell any shares beneficially owned prior to the first anniversary of the agreement. We are also precluded from owning more than 4.9% of the outstanding common shares of Bally's, inclusive of shares obtained through the exercise of the warrants and options described above.
Schedule of Changes in Level 3 Financial Liabilities Measured on Recurring Basis	The following table summarizes the changes in financial assets measured at fair value on a recurring basis and categorized as Level 3 under the fair value hierarchy for the three and nine months ended September 30, 2022 and 2021 (in millions): Options and Warrants Three Months Ended September 30, 2022 Nine Months Ended September 30, 2022 Fair value at June 30, 2022 $ 152 Fair value at December 31, 2021 $ 282 Measurement adjustments — Measurement adjustments (130) Fair value at September 30, 2022 $ 152 Fair value at September 30, 2022 $ 152 Options and Warrants Three Months Ended September 30, 2021 Nine Months Ended September 30, 2021 Fair value at June 30, 2021 $ 384 Fair value at December 31, 2020 $ 332 Measurement adjustments (30) Measurement adjustments 22 Fair value at September 30, 2021 $ 354 Fair value at September 30, 2021 $ 354

CONDENSED CONSOLIDATING FINAN_2

CONDENSED CONSOLIDATING FINANCIAL STATEMENTS (Tables)	9 Months Ended
	Sep. 30, 2022
Condensed Financial Information Disclosure [Abstract]
Schedule of Condensed Consolidating Balance Sheet	CONDENSED CONSOLIDATING BALANCE SHEET AS OF SEPTEMBER 30, 2022 (in millions) (unaudited) Sinclair Sinclair Guarantor Non- Eliminations Sinclair Cash and cash equivalents $ 33 $ 483 $ 1 $ 90 $ — $ 607 Accounts receivable, net — — 533 53 — 586 Other current assets 22 43 341 21 (57) 370 Total current assets 55 526 875 164 (57) 1,563 Property and equipment, net 1 32 661 48 (22) 720 Investment in equity of consolidated subsidiaries 851 3,090 — — (3,941) — Goodwill — — 2,081 7 — 2,088 Indefinite-lived intangible assets — — 136 14 — 150 Definite-lived intangible assets, net — — 977 44 (32) 989 Other long-term assets 546 917 392 1,141 (1,901) 1,095 Total assets $ 1,453 $ 4,565 $ 5,122 $ 1,418 $ (5,953) $ 6,605 Accounts payable and accrued liabilities $ — $ 92 $ 301 $ 20 $ (1) $ 412 Current portion of long-term debt — 28 6 10 (1) 43 Other current liabilities 2 3 197 88 (57) 233 Total current liabilities 2 123 504 118 (59) 688 Long-term debt — 4,185 25 378 (362) 4,226 Other long-term liabilities 745 55 1,507 318 (1,764) 861 Total liabilities 747 4,363 2,036 814 (2,185) 5,775 Redeemable noncontrolling interests — — — 190 — 190 Total Sinclair Broadcast Group equity 706 202 3,086 483 (3,771) 706 Noncontrolling interests in consolidated subsidiaries — — — (69) 3 (66) Total liabilities, redeemable noncontrolling interests, and equity $ 1,453 $ 4,565 $ 5,122 $ 1,418 $ (5,953) $ 6,605 CONDENSED CONSOLIDATING BALANCE SHEET AS OF DECEMBER 31, 2021 (in millions) Sinclair Sinclair Guarantor Non- Eliminations Sinclair Cash and cash equivalents $ 2 $ 316 $ 2 $ 496 $ — $ 816 Accounts receivable, net — — 649 596 — 1,245 Other current assets 10 82 293 136 (111) 410 Total current assets 12 398 944 1,228 (111) 2,471 Property and equipment, net 1 31 664 161 (24) 833 Investment in equity of consolidated subsidiaries 451 3,448 — — (3,899) — Restricted cash — — — 3 — 3 Goodwill — — 2,081 7 — 2,088 Indefinite-lived intangible assets — — 136 14 — 150 Definite-lived intangible assets, net — — 1,105 4,019 (36) 5,088 Other long-term assets 331 1,956 427 1,853 (2,659) 1,908 Total assets $ 795 $ 5,833 $ 5,357 $ 7,285 $ (6,729) $ 12,541 Accounts payable and accrued liabilities $ 31 $ 85 $ 295 $ 279 $ (35) $ 655 Current portion of long-term debt — 20 5 45 (1) 69 Other current liabilities 2 6 155 392 (77) 478 Total current liabilities 33 111 455 716 (113) 1,202 Long-term debt 915 4,317 33 8,488 (1,482) 12,271 Investment in deficit of consolidated subsidiaries 1,605 — — — (1,605) — Other long-term liabilities 12 69 1,426 468 (1,398) 577 Total liabilities 2,565 4,497 1,914 9,672 (4,598) 14,050 Redeemable noncontrolling interests — — — 197 — 197 Total Sinclair Broadcast Group (deficit) equity (1,770) 1,336 3,443 (2,644) (2,135) (1,770) Noncontrolling interests in consolidated subsidiaries — — — 60 4 64 Total liabilities, redeemable noncontrolling interests, and equity $ 795 $ 5,833 $ 5,357 $ 7,285 $ (6,729) $ 12,541
Schedule of Condensed Consolidating Statement of Operations and Comprehensive Income	CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME FOR THE THREE MONTHS ENDED SEPTEMBER 30, 2022 (in millions) (unaudited) Sinclair Sinclair Guarantor Non- Eliminations Sinclair Net revenue $ — $ 13 $ 813 $ 47 $ (30) $ 843 Media programming and production expenses — 2 375 38 (19) 396 Selling, general and administrative expenses 15 23 185 3 (6) 220 Depreciation, amortization and other operating (gains) expenses (9) 2 78 4 (2) 73 Total operating expenses 6 27 638 45 (27) 689 Operating (loss) income (6) (14) 175 2 (3) 154 Equity in earnings of consolidated subsidiaries 17 132 — — (149) — Interest expense — (58) (1) (3) 3 (59) Other income 11 — — 31 1 43 Total other income (expense) 28 74 (1) 28 (145) (16) Income tax (provision) benefit (1) 14 (41) (81) — (109) Net income (loss) 21 74 133 (51) (148) 29 Net income attributable to the redeemable noncontrolling interests — — — (5) — (5) Net income attributable to the noncontrolling interests — — — (3) — (3) Net income (loss) attributable to Sinclair Broadcast Group $ 21 $ 74 $ 133 $ (59) $ (148) $ 21 Comprehensive income (loss) $ 21 $ 74 $ 133 $ (51) $ (148) $ 29 CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME FOR THE THREE MONTHS ENDED SEPTEMBER 30, 2021 (in millions) (unaudited) Sinclair Sinclair Guarantor Non- Eliminations Sinclair Net revenue $ — $ 28 $ 758 $ 803 $ (54) $ 1,535 Media programming and production expenses — 1 366 671 (16) 1,022 Selling, general and administrative expenses 3 33 176 87 (36) 263 Depreciation, amortization and other operating expenses — 2 81 95 (1) 177 Total operating expenses 3 36 623 853 (53) 1,462 Operating (loss) income (3) (8) 135 (50) (1) 73 Equity in earnings of consolidated subsidiaries 21 113 — — (134) — Interest expense (3) (43) (1) (113) 5 (155) Other income (expense) 2 (3) (2) 14 (3) 8 Total other income (expense) 20 67 (3) (99) (132) (147) Income tax benefit (provision) 2 9 (16) 96 — 91 Net income (loss) 19 68 116 (53) (133) 17 Net income attributable to the redeemable noncontrolling interests — — — (4) — (4) Net loss attributable to the noncontrolling interests — — — 6 — 6 Net income (loss) attributable to Sinclair Broadcast Group $ 19 $ 68 $ 116 $ (51) $ (133) $ 19 Comprehensive income (loss) $ 19 $ 68 $ 116 $ (52) $ (133) $ 18 CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2022 (in millions) (unaudited) Sinclair Sinclair Guarantor Non- Eliminations Sinclair Net revenue $ — $ 53 $ 2,424 $ 624 $ (133) $ 2,968 Media programming and production expenses — 4 1,120 486 (53) 1,557 Selling, general and administrative expenses 21 109 590 72 (72) 720 Gain on deconsolidation of subsidiary (3,357) — — — — (3,357) Depreciation, amortization and other operating (gains) expenses (8) 5 246 86 (8) 321 Total operating (gains) expenses (3,344) 118 1,956 644 (133) (759) Operating income (loss) 3,344 (65) 468 (20) — 3,727 Equity in (loss) earnings of consolidated subsidiaries (33) 351 — — (318) — Interest expense (4) (155) (2) (82) 15 (228) Other income (expense) 21 (1) 3 (122) (5) (104) Total other (expense) income (16) 195 1 (204) (308) (332) Income tax (provision) benefit (731) 44 (115) 46 — (756) Net income (loss) 2,597 174 354 (178) (308) 2,639 Net income attributable to the redeemable noncontrolling interests — — — (14) — (14) Net income attributable to the noncontrolling interests — — — (28) — (28) Net income (loss) attributable to Sinclair Broadcast Group $ 2,597 $ 174 $ 354 $ (220) $ (308) $ 2,597 Comprehensive income (loss) $ 2,597 $ 174 $ 354 $ (175) $ (308) $ 2,642 CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2021 (in millions) (unaudited) Sinclair Sinclair Guarantor Non- Eliminations Sinclair Net revenue $ — $ 83 $ 2,207 $ 2,507 $ (139) $ 4,658 Media programming and production expenses — 3 1,073 2,354 (40) 3,390 Selling, general and administrative expenses 10 123 515 252 (93) 807 Depreciation, amortization and other operating expenses — 6 240 290 (5) 531 Total operating expenses 10 132 1,828 2,896 (138) 4,728 Operating (loss) income (10) (49) 379 (389) (1) (70) Equity in (loss) earnings of consolidated subsidiaries (267) 317 — — (50) — Interest expense (10) (135) (2) (337) 18 (466) Other (expense) income (61) 11 (24) 166 (10) 82 Total other (expense) income (338) 193 (26) (171) (42) (384) Income tax benefit (provision) 23 38 (31) 139 — 169 Net (loss) income (325) 182 322 (421) (43) (285) Net income attributable to the redeemable noncontrolling interests — — — (13) — (13) Net income attributable to the noncontrolling interests — — — (27) — (27) Net (loss) income attributable to Sinclair Broadcast Group $ (325) $ 182 $ 322 $ (461) $ (43) $ (325) Comprehensive (loss) income $ (325) $ 182 $ 322 $ (415) $ (43) $ (279)
Schedule of Condensed Consolidating Statement of Cash Flows	CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2022 (in millions) (unaudited) Sinclair Sinclair Guarantor Non- Eliminations Sinclair NET CASH FLOWS (USED IN) FROM OPERATING ACTIVITIES $ (91) $ (136) $ 757 $ (77) $ 5 $ 458 NET CASH FLOWS FROM (USED IN) INVESTING ACTIVITIES Acquisition of property and equipment — (3) (71) (3) 3 (74) Spectrum repack reimbursements — — 3 — — 3 Proceeds from the sale of assets — — 5 4 — 9 Deconsolidation of subsidiary cash — — — (315) — (315) Purchases of investments (46) (1) (3) (17) — (67) Distributions from investments 60 — 10 20 — 90 Other, net — 2 — — — 2 Net cash flows from (used in) investing activities 14 (2) (56) (311) 3 (352) NET CASH FLOWS FROM (USED IN) FINANCING ACTIVITIES Proceeds from notes payable and commercial bank financing — 728 — — — 728 Repayments of notes payable, commercial bank financing and finance leases — (848) (4) (2) — (854) Repurchase of outstanding Class A Common Stock (114) — — — — (114) Dividends paid on Class A and Class B Common Stock (53) — — — — (53) Dividends paid on redeemable subsidiary preferred equity — — — (5) — (5) Distributions to noncontrolling interests — — — (10) — (10) Increase (decrease) in intercompany payables 277 433 (698) (4) (8) — Other, net (2) (8) — — — (10) Net cash flows from (used in) financing activities 108 305 (702) (21) (8) (318) NET INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH 31 167 (1) (409) — (212) CASH, CASH EQUIVALENTS, AND RESTRICTED CASH, beginning of period 2 316 2 499 — 819 CASH, CASH EQUIVALENTS, AND RESTRICTED CASH, end of period $ 33 $ 483 $ 1 $ 90 $ — $ 607 CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2021 (in millions) (unaudited) Sinclair Sinclair Guarantor Non- Eliminations Sinclair NET CASH FLOWS FROM (USED IN) OPERATING ACTIVITIES $ 8 $ (100) $ 317 $ 6 $ 4 $ 235 NET CASH FLOWS USED IN INVESTING ACTIVITIES Acquisition of property and equipment — (1) (48) (15) 2 (62) Spectrum repack reimbursements — — 22 — — 22 Proceeds from the sale of assets — — 34 9 — 43 Purchases of investments (7) (12) (40) (185) — (244) Distributions from investments — — — 11 — 11 Other, net — — (2) 1 — (1) Net cash flows used in investing activities (7) (13) (34) (179) 2 (231) NET CASH FLOWS (USED IN) FROM FINANCING ACTIVITIES Proceeds from notes payable and commercial bank financing — 341 — 16 — 357 Repayments of notes payable, commercial bank financing and finance leases — (356) (5) (39) — (400) Dividends paid on Class A and Class B Common Stock (46) — — — — (46) Dividends paid on redeemable subsidiary preferred equity — — — (4) — (4) Distributions to noncontrolling interests, net — — — (63) — (63) Distributions to redeemable noncontrolling interests — — — (5) — (5) Increase (decrease) in intercompany payables 57 226 (268) (9) (6) — Other, net (12) (1) — (31) — (44) Net cash flows (used in) from financing activities (1) 210 (273) (135) (6) (205) NET INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH — 97 10 (308) — (201) CASH, CASH EQUIVALENTS, AND RESTRICTED CASH, beginning of period — 458 — 804 — 1,262 CASH, CASH EQUIVALENTS, AND RESTRICTED CASH, end of period $ — $ 555 $ 10 $ 496 $ — $ 1,061

NATURE OF OPERATIONS AND SUMM_4

NATURE OF OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Nature of Operations (Details)	2 Months Ended	3 Months Ended
	Feb. 28, 2022 segment	Sep. 30, 2022 segment market station channel
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of reportable segments | segment	2	1
Number of television stations owned | station		185
Number of markets | market		86
Number of channels | channel		638

NATURE OF OPERATIONS AND SUMM_5

NATURE OF OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Deconsolidation of Diamond Sports Intermediate Holdings LLC (Details) - USD ($) $ in Millions		3 Months Ended		9 Months Ended
	Mar. 01, 2022	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Deconsolidated subsidiary, expected liquidity enhancement	$ 1,000
Liquidity enhancement period (in years)	5 years
Gain on deconsolidation of subsidiary	$ 3,357	$ 0	$ 0	$ 3,357	$ 0

NATURE OF OPERATIONS AND SUMM_6

NATURE OF OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Broadcast Television Programming (Details) - Television Programming Contract Rights	9 Months Ended
	Sep. 30, 2022
Minimum
Finite-Lived Intangible Assets [Line Items]
Television programming contract period	1 year
Maximum
Finite-Lived Intangible Assets [Line Items]
Television programming contract period	7 years
Contract period utilizing accelerated amortization method	3 years

NATURE OF OPERATIONS AND SUMM_7

NATURE OF OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Non-cash Investing and Financing Activities (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Leased assets obtained in exchange for new operating lease liabilities	$ 9	$ 11
Leased assets obtained in exchange for new finance lease liabilities	$ 1
Preferred shares in exchange for an equivalent value of advertising spots		$ 6

NATURE OF OPERATIONS AND SUMM_8

NATURE OF OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Revenue Recognition, Disaggregation of Revenue (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Disaggregation of Revenue [Line Items]
Total revenues	$ 843	$ 1,535	$ 2,968	$ 4,658
Distribution revenue
Disaggregation of Revenue [Line Items]
Total revenues	425	1,053	1,728	3,240
Advertising revenue
Disaggregation of Revenue [Line Items]
Total revenues	374	446	1,111	1,308
Other media, non-media, and intercompany revenues
Disaggregation of Revenue [Line Items]
Total revenues	44	36	129	110
Operating Segments | Broadcast
Disaggregation of Revenue [Line Items]
Total revenues	753	701	2,206	2,053
Operating Segments | Local sports
Disaggregation of Revenue [Line Items]
Total revenues	0	759	482	2,365
Operating Segments | Other
Disaggregation of Revenue [Line Items]
Total revenues	103	117	368	345
Operating Segments | Distribution revenue | Broadcast
Disaggregation of Revenue [Line Items]
Total revenues	381	372	1,158	1,096
Operating Segments | Distribution revenue | Local sports
Disaggregation of Revenue [Line Items]
Total revenues	0	633	433	1,997
Operating Segments | Distribution revenue | Other
Disaggregation of Revenue [Line Items]
Total revenues	44	48	137	147
Operating Segments | Advertising revenue | Broadcast
Disaggregation of Revenue [Line Items]
Total revenues	339	283	937	830
Operating Segments | Advertising revenue | Local sports
Disaggregation of Revenue [Line Items]
Total revenues	0	118	44	345
Operating Segments | Advertising revenue | Other
Disaggregation of Revenue [Line Items]
Total revenues	46	55	184	149
Operating Segments | Other media, non-media, and intercompany revenues | Broadcast
Disaggregation of Revenue [Line Items]
Total revenues	33	46	111	127
Operating Segments | Other media, non-media, and intercompany revenues | Local sports
Disaggregation of Revenue [Line Items]
Total revenues	0	8	5	23
Operating Segments | Other media, non-media, and intercompany revenues | Other
Disaggregation of Revenue [Line Items]
Total revenues	13	14	47	49
Eliminations
Disaggregation of Revenue [Line Items]
Total revenues	(13)	(42)	(88)	(105)
Eliminations | Distribution revenue
Disaggregation of Revenue [Line Items]
Total revenues	0	0	0	0
Eliminations | Advertising revenue
Disaggregation of Revenue [Line Items]
Total revenues	(11)	(10)	(54)	(16)
Eliminations | Other media, non-media, and intercompany revenues
Disaggregation of Revenue [Line Items]
Total revenues	$ (2)	$ (32)	$ (34)	$ (89)

NATURE OF OPERATIONS AND SUMM_9

NATURE OF OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Revenue Recognition, Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Disaggregation of Revenue [Line Items]
Deferred revenue	$ 244		$ 244		$ 235
Deferred revenue, noncurrent	$ 149		149		$ 164
Deferred revenue, revenue recognized			$ 53	$ 38
Customer Concentration Risk | Revenue Benchmark | Customer One
Disaggregation of Revenue [Line Items]
Concentration risk (as a percent)	11%	19%	14%	19%
Customer Concentration Risk | Revenue Benchmark | Customer Two
Disaggregation of Revenue [Line Items]
Concentration risk (as a percent)		17%	12%	18%
Customer Concentration Risk | Revenue Benchmark | Customer Three
Disaggregation of Revenue [Line Items]
Concentration risk (as a percent)		14%	11%	14%
Customer Concentration Risk | Accounts Receivable | Customer One
Disaggregation of Revenue [Line Items]
Concentration risk (as a percent)			11%
Customer Concentration Risk | Accounts Receivable | Customer Two
Disaggregation of Revenue [Line Items]
Concentration risk (as a percent)			10%

NATURE OF OPERATIONS AND SUM_10

NATURE OF OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Share Repurchase Program (Details) - USD ($)	1 Months Ended	9 Months Ended
	Nov. 04, 2022	Sep. 30, 2022	Aug. 04, 2020	Aug. 03, 2020
Disaggregation of Revenue [Line Items]
Stock repurchase program, additional authorized repurchase amount			$ 500,000,000	$ 1,000,000,000
Treasury stock, shares acquired (in shares)		5,000,000,000,000
Treasury stock, value acquired		$ 114,000,000
Stock repurchase program, remaining authorized repurchase amount		$ 704,000,000
Subsequent Event
Disaggregation of Revenue [Line Items]
Treasury stock, shares acquired (in shares)	300,000
Treasury stock, value acquired	$ 6,000,000

ACQUISITIONS AND DISPOSITIONS_2

ACQUISITIONS AND DISPOSITIONS OF ASSETS (Details) $ in Millions	1 Months Ended	3 Months Ended		9 Months Ended
	Mar. 31, 2016 USD ($) station	Sep. 30, 2022 USD ($)	Sep. 30, 2021 USD ($)	Sep. 30, 2022 USD ($)	Sep. 30, 2021 USD ($)
Business Combination and Asset Acquisition [Abstract]
Number of stations assigned new channels | station	100
Broadcast incentive auction, total legislation funds to reimburse stations	$ 3,000
Broadcast incentive auction, gain recognized on sale		$ 1	$ 3	$ 3	$ 22
Broadcast incentive auction, total capital expenditure		$ 0.1	$ 1	$ 1	$ 10

OTHER ASSETS - Schedule of Othe

OTHER ASSETS - Schedule of Other Assets (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Equity method investments	$ 131	$ 517
Other investments	418	567
Note receivable	193	0
Post-retirement plan assets	39	50
Other	168	274
Total other assets	$ 949	$ 1,408

OTHER ASSETS - Narrative (Detai

OTHER ASSETS - Narrative (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Mar. 01, 2022	Dec. 31, 2021	Nov. 05, 2021
Schedule of Equity Method Investments [Line Items]
Income (loss) from equity method investments	$ 33,000,000	$ 12,000,000	$ 48,000,000	$ 23,000,000
Investments in equity securities measured at fair value	216,000,000		216,000,000			$ 402,000,000
Unrealized gain (loss) on FV-NI and NAV investments	4,000,000	(2,000,000)	(157,000,000)	60,000,000
Equity investments, net of cumulative impairment	17,000,000		17,000,000			18,000,000
Cumulative impairment	7,000,000		7,000,000			7,000,000
Impairment recorded	0	0	0	0
Note receivable	193,000,000		193,000,000			0
Affiliated Entity | Notes Receivable of Diamond Sports Finance SPV, LLC
Schedule of Equity Method Investments [Line Items]
Note receivable	193,000,000		193,000,000
A/R Facility | Line of Credit Facility
Schedule of Equity Method Investments [Line Items]
Payment to purchase lenders' rights and obligations							$ 184,000,000
Payment to purchase lenders' rights and obligations as a proportion of total aggregate outstanding principal amount (as a percent)							101%
Maximum borrowing capacity							$ 400,000,000
Fair Value Measured at Net Asset Value Per Share
Schedule of Equity Method Investments [Line Items]
Investments measured at NAV	185,000,000		185,000,000			147,000,000
Unfunded commitments related to investments valued using NAV practical expedient	92,000,000		92,000,000			$ 81,000,000
YES Network
Schedule of Equity Method Investments [Line Items]
Income (loss) from equity method investments		$ 10,000,000	10,000,000	$ 29,000,000
DSIH
Schedule of Equity Method Investments [Line Items]
Income (loss) from equity method investments	0		0
Fair value of equity method investments	$ 0		$ 0		$ 0

NOTES PAYABLE, FINANCE LEASES_2

NOTES PAYABLE, FINANCE LEASES, AND COMMERCIAL BANK FINANCING (Details)		3 Months Ended		9 Months Ended
	Apr. 21, 2022 USD ($)	Sep. 30, 2022 USD ($)	Sep. 30, 2021 USD ($)	Sep. 30, 2022 USD ($)	Sep. 30, 2021 USD ($)	Dec. 31, 2021 USD ($)
Debt Instrument [Line Items]
Borrowings under revolving credit facility exceed total commitments (as a percent)				35%
Gain (loss) on extinguishment of debt		$ 0	$ 0	$ 3,000,000	$ 0
Consolidated total debt		4,269,000,000		4,269,000,000
Consolidated VIEs
Debt Instrument [Line Items]
Consolidated total debt		8,000,000		8,000,000		$ 9,000,000
Guarantee Obligations
Debt Instrument [Line Items]
Unconditional and irrevocably guaranteed debt		35,000,000		35,000,000		39,000,000
Provide guarantee of certain obligations		108,000,000		$ 108,000,000
Annual escalations (as a percent)				4%
Debt term ( year)				8 years
Term Loan B-4, due April 21, 2029 | Term Loan
Debt Instrument [Line Items]
Aggregate principal amount	$ 750,000,000
Proportion of par (as a percent)	97%
Issuance of debt discount		23,000,000		$ 23,000,000
Outstanding balance		$ 726,000,000		726,000,000
Gain (loss) on extinguishment of debt				$ (10,000,000)
Term Loan B-4, due April 21, 2029 | Term Loan | SOFR
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)	3.75%
Term Loan B-4, due April 21, 2029 | Term Loan | Base Rate
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)	2.75%
5.125% Senior Notes due 2027 | Senior Notes
Debt Instrument [Line Items]
Interest rate (as a percent)	5.875%	5.125%		5.125%
Gain (loss) on extinguishment of debt				$ 13,000,000
Purchased aggregate principal amount		$ 118,000,000		118,000,000
Repayments of senior debt				$ 104,000,000
Recourse Debt Of Variable Interest Entities | LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)				2.50%
Finance leases to affiliates
Debt Instrument [Line Items]
Finance lease liabilities, current		2,000,000		$ 2,000,000		3,000,000
Finance lease liabilities, non-current		$ 5,000,000		$ 5,000,000		$ 6,000,000
STG Revolving Credit Facility
Debt Instrument [Line Items]
First lien leverage ratio		4.5		4.5
Borrowings outstanding	$ 612,500,000	$ 0		$ 0
Revolving commitment	650,000,000
Remaining continuing to mature	$ 37,500,000

REDEEMABLE NONCONTROLLING INT_2

REDEEMABLE NONCONTROLLING INTERESTS (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Temporary Equity [Line Items]
Dividends accrued during the period	$ 3	$ 4	$ 9	$ 11
Redeemable subsidiary preferred equity	190		190		$ 181
Liquidation preference	$ 194		$ 194		185
Redeemable noncontrolling interest					$ 16
LIBOR
Temporary Equity [Line Items]
Cash interest rate (as a percent)	8%		8%
Percent higher than the rate payable if dividends were paid in cash (as a percent)	0.50%		0.50%
Minimum
Temporary Equity [Line Items]
Cash interest rate (as a percent)	0.75%		0.75%

COMMITMENTS AND CONTINGENCIES -

COMMITMENTS AND CONTINGENCIES - Narrative (Details) $ in Thousands

1 Months Ended

3 Months Ended

9 Months Ended

12 Months Ended

Sep. 21, 2022 USD ($) station

Jul. 28, 2021 USD ($)

Oct. 15, 2020 USD ($)

Sep. 02, 2020 USD ($)

Aug. 19, 2020 USD ($)

Jun. 08, 2020 petition

May 22, 2020 USD ($)

Nov. 06, 2018 lawsuit

Dec. 31, 2017 USD ($)

Sep. 30, 2022 USD ($) station

Sep. 30, 2021 USD ($)

Sep. 30, 2022 USD ($) station

Sep. 30, 2021 USD ($)

Dec. 31, 2021 USD ($)

Oct. 03, 2018 broadcaster

COMMITMENTS AND CONTINGENCIES

Interest expense including amortization of debt discount and deferred financing costs

$ 59,000

$ 155,000

$ 228,000

$ 466,000

Number of television stations owned | station

185

185

Unfavorable Regulatory Action

COMMITMENTS AND CONTINGENCIES

Proposed fine

$ 2,700

$ 9,000

$ 13,000

Proposed fine per station

$ 25

$ 500

Issuance of forfeiture penalty upheld

$ 500

Additional legal expenses accrued

$ 8,000

Number of television stations owned | station

83

Loss contingency, damages sought, total

$ 3,400

Loss contingency accrual

$ 3,400

$ 3,400

Unfavorable Regulatory Action | Minimum

COMMITMENTS AND CONTINGENCIES

Proposed fine per station

20

Unfavorable Regulatory Action | Maximum

COMMITMENTS AND CONTINGENCIES

Proposed fine per station

$ 26

Breach of Merger Agreement

COMMITMENTS AND CONTINGENCIES

Agreement to pay to resolve FCC investigation

$ 48,000

Payments for resolve FCC investigation

$ 48,000

Compliance plan term

4 years

Number of petitions filed | petition

2

Various Cases Alleging Violation of Sherman Antitrust Act

COMMITMENTS AND CONTINGENCIES

Loss contingency, new claims filed, number (lawsuit) | lawsuit

22

Loss contingency, number of other broadcasters | broadcaster

13

Fixed Payment Obligations | RSNs

COMMITMENTS AND CONTINGENCIES

Other current liabilities

32,000

Other long-term liabilities

71,000

Interest expense including amortization of debt discount and deferred financing costs

2,000

1,000

5,000

Variable Payment Obligations | RSNs

COMMITMENTS AND CONTINGENCIES

Other current liabilities

8,000

Other long-term liabilities

$ 23,000

Variable Payment Obligations | RSNs | Other Income, Net

COMMITMENTS AND CONTINGENCIES

Contingent consideration measurement adjustment losses

$ 1,000

$ 3,000

$ 4,000

EARNINGS PER SHARE - Schedule o

EARNINGS PER SHARE - Schedule of Earnings per Share (Details) - USD ($) shares in Thousands, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Income (Numerator)
Net income (loss)	$ 29	$ 17	$ 2,639	$ (285)
Net income attributable to the redeemable noncontrolling interests	(5)	(4)	(14)	(13)
Net (income) loss attributable to the noncontrolling interests	(3)	6	(28)	(27)
Numerator for basic earnings (loss) per common share available to common shareholders	21	19	2,597	(325)
Numerator for diluted earnings (loss) per common share available to common shareholders	$ 21	$ 19	$ 2,597	$ (325)
Shares (Denominator)
Basic weighted average common shares outstanding (in shares)	69,907	75,472	70,981	75,068
Dilutive effect of stock-settled appreciation rights and outstanding stock options (in shares)	0	44	4	0
Diluted weighted average common and common equivalent shares outstanding (in shares)	69,907	75,516	70,985	75,068

EARNINGS PER SHARE - Summary of

EARNINGS PER SHARE - Summary of Antidilutive Securities (Details) - shares shares in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Earnings Per Share [Abstract]
Weighted-average stock-settled appreciation rights and outstanding stock options excluded (in shares)	3,645	1,670	3,278	1,629

SEGMENT DATA - Narrative (Detai

SEGMENT DATA - Narrative (Details) - segment	2 Months Ended	3 Months Ended
	Feb. 28, 2022	Sep. 30, 2022
Segment Reporting [Abstract]
Number of reportable segments	2	1

SEGMENT DATA - Segment Financia

SEGMENT DATA - Segment Financial Information (Details) - USD ($) $ in Millions			3 Months Ended		9 Months Ended
		Mar. 01, 2022	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Segment data
Assets	[1]		$ 6,605		$ 6,605		$ 12,541
Revenue			843	$ 1,535	2,968	$ 4,658
Depreciation of property and equipment and amortization of definite-lived intangibles and other assets			67	148	255	448
Amortization of sports programming rights				531	326	1,912
Amortization of program contract costs			22	22	68	67
Corporate general and administrative expenses			30	35	115	132
Gain on deconsolidation of subsidiary		$ (3,357)	0	0	(3,357)	0
Gain on asset dispositions and other, net of impairment			(28)	(4)	(37)	(26)
Operating income (loss)			154	73	3,727	(70)
Interest expense including amortization of debt discount and deferred financing costs			59	155	228	466
Income (loss) from equity method investments			33	12	48	23
Note receivable			193		193		$ 0
Notes Receivable of Diamond Sports Finance SPV, LLC | Affiliated Entity
Segment data
Note receivable			193		193
Broadcast
Segment data
Intersegment revenues			1	28	26	82
Revenue from related parties			12		27
Operating Segments | Broadcast
Segment data
Assets			4,609		4,609
Revenue			753	701	2,206	2,053
Depreciation of property and equipment and amortization of definite-lived intangibles and other assets			60	61	180	187
Amortization of sports programming rights				0	0	0
Amortization of program contract costs			17	18	55	56
Corporate general and administrative expenses			17	30	93	114
Gain on deconsolidation of subsidiary					0
Gain on asset dispositions and other, net of impairment			(7)	(6)	(12)	(23)
Operating income (loss)			152	126	367	294
Interest expense including amortization of debt discount and deferred financing costs			0	1	2	3
Income (loss) from equity method investments			0	0	0	0
Operating Segments | Local sports
Segment data
Assets			0		0
Revenue			0	759	482	2,365
Depreciation of property and equipment and amortization of definite-lived intangibles and other assets			0	79	54	241
Amortization of sports programming rights				531	326	1,912
Amortization of program contract costs			0	0	0	0
Corporate general and administrative expenses			0	2	1	8
Gain on deconsolidation of subsidiary					0
Gain on asset dispositions and other, net of impairment			0	0	0	0
Operating income (loss)			0	(39)	(4)	(368)
Interest expense including amortization of debt discount and deferred financing costs			0	109	72	327
Income (loss) from equity method investments			0	12	10	35
Other & Corporate
Segment data
Assets			1,999		1,999
Revenue			103	117	368	345
Depreciation of property and equipment and amortization of definite-lived intangibles and other assets			7	9	23	23
Amortization of sports programming rights				0	0	0
Amortization of program contract costs			5	4	13	11
Corporate general and administrative expenses			13	3	21	10
Gain on deconsolidation of subsidiary					(3,357)
Gain on asset dispositions and other, net of impairment			(21)	2	(25)	(3)
Operating income (loss)			5	(12)	3,364	5
Interest expense including amortization of debt discount and deferred financing costs			61	48	164	144
Income (loss) from equity method investments			33	0	38	(12)
Intersegment revenues			8		51
Eliminations
Segment data
Assets			(3)		(3)
Revenue			(13)	(42)	(88)	(105)
Depreciation of property and equipment and amortization of definite-lived intangibles and other assets			0	(1)	(2)	(3)
Amortization of sports programming rights				0	0	0
Amortization of program contract costs			0	0	0	0
Corporate general and administrative expenses			0	0	0	0
Gain on deconsolidation of subsidiary					0
Gain on asset dispositions and other, net of impairment			0	0	0	0
Operating income (loss)			(3)	(2)	0	(1)
Interest expense including amortization of debt discount and deferred financing costs			(2)	(3)	(10)	(8)
Income (loss) from equity method investments			$ 0	$ 0	$ 0	$ 0
[1]Our consolidated total assets as of September 30, 2022 and December 31, 2021 include total assets of variable interest entities ("VIE") of $113 million and $217 million, respectively, which can only be used to settle the obligations of the VIEs. Our consolidated total liabilities as of September 30, 2022 and December 31, 2021 include total liabilities of VIEs of $18 million and $62 million, respectively, for which the creditors of the VIEs have no recourse to us. See Note 9. Variable Interest Entities .

VARIABLE INTEREST ENTITIES - Na

VARIABLE INTEREST ENTITIES - Narrative (Details) - USD ($) $ in Millions		3 Months Ended		9 Months Ended
		Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Variable Interest Entity [Line Items]
Note receivable		$ 193		$ 193		$ 0
Assets	[1]	6,605		6,605		12,541
Notes Receivable of Diamond Sports Finance SPV, LLC | Affiliated Entity
Variable Interest Entity [Line Items]
Note receivable		193		193
Eliminations
Variable Interest Entity [Line Items]
Assets		(5,953)		$ (5,953)		(6,729)
Consolidated VIEs
Variable Interest Entity [Line Items]
Variable interest entities outsourcing agreement initial term				5 years
Assets		113		$ 113		217
Consolidated VIEs | Eliminations
Variable Interest Entity [Line Items]
Liabilities associated with the certain outsourcing agreements and purchase options		129		129		127
Variable Interest Entity, Not Primary Beneficiary
Variable Interest Entity [Line Items]
Assets		186		186		$ 175
Gain from related equity investments and other investments		$ 33	$ 32	$ 58	$ 20
[1]Our consolidated total assets as of September 30, 2022 and December 31, 2021 include total assets of variable interest entities ("VIE") of $113 million and $217 million, respectively, which can only be used to settle the obligations of the VIEs. Our consolidated total liabilities as of September 30, 2022 and December 31, 2021 include total liabilities of VIEs of $18 million and $62 million, respectively, for which the creditors of the VIEs have no recourse to us. See Note 9. Variable Interest Entities .

VARIABLE INTEREST ENTITIES - Sc

VARIABLE INTEREST ENTITIES - Schedule of Variable Interest Entities Assets and Liabilities (Details) - USD ($) $ in Millions		Sep. 30, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents		$ 607	$ 816
Accounts receivable, net		586	1,245
Prepaid sports rights		0	85
Other current assets		199	173
Total current assets		1,563	2,471
Property and equipment, net		720	833
Operating lease assets		146	207
Definite-lived intangible assets, net		989	5,088
Other assets		949	1,408
Total assets	[1]	6,605	12,541
Current liabilities:
Other current liabilities		688	1,202
Long-term liabilities:
Operating lease liabilities, less current portion		156	205
Program contracts payable, less current portion		12	21
Other long-term liabilities		228	351
Total liabilities	[1]	5,775	14,050
Consolidated VIEs
Current assets:
Cash and cash equivalents		0	43
Accounts receivable, net		45	83
Prepaid sports rights		0	2
Other current assets		4	4
Total current assets		49	132
Property and equipment, net		7	17
Operating lease assets		0	5
Goodwill and indefinite-lived intangible assets		15	15
Definite-lived intangible assets, net		42	47
Other assets		0	1
Total assets		113	217
Current liabilities:
Other current liabilities		22	62
Long-term liabilities:
Operating lease liabilities, less current portion		0	4
Program contracts payable, less current portion		1	2
Other long-term liabilities		3	4
Total liabilities		$ 26	$ 72
[1]Our consolidated total assets as of September 30, 2022 and December 31, 2021 include total assets of variable interest entities ("VIE") of $113 million and $217 million, respectively, which can only be used to settle the obligations of the VIEs. Our consolidated total liabilities as of September 30, 2022 and December 31, 2021 include total liabilities of VIEs of $18 million and $62 million, respectively, for which the creditors of the VIEs have no recourse to us. See Note 9. Variable Interest Entities .

RELATED PERSON TRANSACTIONS - T

RELATED PERSON TRANSACTIONS - Transactions with our Controlling Shareholders (Details) - Entities Owned by Controlling Shareholders - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Lease Services
Related Party Transaction [Line Items]
Lease payments made to entities	$ 2	$ 1	$ 5	$ 4
Charter Aircraft | Maximum
Related Party Transaction [Line Items]
Aircraft expenses (less than)	$ 0.1	$ 0.2	$ 0.3	$ 0.4

RELATED PERSON TRANSACTIONS - C

RELATED PERSON TRANSACTIONS - Cunningham Broadcasting Corporation (Details) $ in Millions	1 Months Ended		3 Months Ended		9 Months Ended
	Aug. 31, 2016 USD ($)	Apr. 30, 2016 USD ($)	Sep. 30, 2022 USD ($)	Sep. 30, 2021 USD ($)	Sep. 30, 2022 USD ($) renewal	Sep. 30, 2021 USD ($)	Dec. 31, 2021 USD ($)
Related Party Transaction [Line Items]
Consolidated total debt			$ 4,269		$ 4,269
Total revenues			843	$ 1,535	2,968	$ 4,658
Consolidated VIEs
Related Party Transaction [Line Items]
Consolidated total debt			$ 8		$ 8		$ 9
Affiliated Entity | Cunningham
Related Party Transaction [Line Items]
Agreement renewal period					8 years
Right to acquire capital stock			100%		100%
Total payments made under the LMA excluded from liabilities			$ 60		$ 60		58
Remaining purchase price			54		54		54
Purchase options, broadcast stations			$ 0.2		$ 0.2
Proceeds from sale of master control equipment		$ 1
Annual revenue from master control services		$ 0.3
Annual revenue for share service	$ 0.6
Share service agreement, annual service consideration increasing rate ( as a percent)	3%
Affiliated Entity | Cunningham | LMA
Related Party Transaction [Line Items]
Number of additional renewal terms | renewal					1
Agreement renewal period					5 years
Percentage of net broadcast revenue used to determine annual LMA fees required to be paid			3%		3%
Amount used to determine annual LMA fees required to be paid			$ 5		$ 5
Annual increase in aggregate purchase price			6%		6%
Lease payments made to entities			$ 3	3	$ 7	8
Affiliated Entity | Cunningham | Consolidated VIEs
Related Party Transaction [Line Items]
Consolidated total debt			6		6
Deferred financing costs			0.1		0.1
Cunningham License Related Assets | Cunningham
Related Party Transaction [Line Items]
Total revenues			40	$ 35	111	$ 107
Guarantee Obligations
Related Party Transaction [Line Items]
Unconditional and irrevocably guaranteed debt			35		35		$ 39
Guarantee Obligations | Affiliated Entity | Cunningham
Related Party Transaction [Line Items]
Unconditional and irrevocably guaranteed debt			$ 33		$ 33

RELATED PERSON TRANSACTIONS - A

RELATED PERSON TRANSACTIONS - Atlantic Automotive Corporation (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Atlantic Automotive Corporation | Advertising Time
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		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Entities Owned by Controlling Shareholders | Lease Services
Related Party Transaction [Line Items]
Amount received	$ 0.3	$ 0.3	$ 0.8	$ 0.7

RELATED PERSON TRANSACTIONS - D

RELATED PERSON TRANSACTIONS - Diamond Sports Intermediate Holdings LLC (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended	12 Months Ended
	Sep. 30, 2022	Sep. 30, 2022	Dec. 31, 2022
Broadcast
Related Party Transaction [Line Items]
Revenue from related parties	$ 12	$ 27
Management Services Agreement with Diamond Sports Group | Broadcast | Eliminations
Related Party Transaction [Line Items]
Revenue from related parties		24
Affiliated Entity | Management Services Agreement with Diamond Sports Group | Forecast
Related Party Transaction [Line Items]
Annual management service fee			$ 75
Annual management service fee, deferral period			5 years
Affiliated Entity | Distributions from Diamond Sports Intermediate Holdings LLC | Redeemable Subsidiary Preferred Equity
Related Party Transaction [Line Items]
Distributions of tax payments on dividends	2	5
Affiliated Entity | Notes Receivable of Diamond Sports Finance SPV, LLC
Related Party Transaction [Line Items]
Proceeds from collection of notes receivable		60
Additional distribution		40
Management Services Agreement with Diamond Sports Group | Broadcast
Related Party Transaction [Line Items]
Revenue from related parties	11	49
DSIH
Related Party Transaction [Line Items]
Revenue	$ 5	$ 10

RELATED PERSON TRANSACTIONS - O

RELATED PERSON TRANSACTIONS - Other Equity Method Investees (Details) $ in Millions	1 Months Ended	3 Months Ended	9 Months Ended
	Aug. 31, 2019 renewal	Sep. 30, 2021 USD ($)	Sep. 30, 2022 USD ($)	Sep. 30, 2021 USD ($)
Sports marketing company
Related Party Transaction [Line Items]
Marketing services		$ 5	$ 2	$ 15
YES Network
Related Party Transaction [Line Items]
Number of renewal terms | renewal	2
Renewal period	2 years
Revenue from related parties		1	1	4
Mobile Trucks
Related Party Transaction [Line Items]
Amount paid		$ 13	$ 5	$ 37

RELATED PERSON TRANSACTIONS - S

RELATED PERSON TRANSACTIONS - Sports Programming Rights (Details) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2021 USD ($)	Sep. 30, 2022 USD ($)	Sep. 30, 2021 USD ($)	Feb. 28, 2022 professional_team
Related Party Transaction [Line Items]
Sports programming rights payments		$ 325	$ 1,338
Sports Teams Affiliates
Related Party Transaction [Line Items]
Number of sports rights agreements assumed | professional_team				6
Sports programming rights payments	$ 118	$ 61	$ 377

RELATED PERSON TRANSACTIONS - E

RELATED PERSON TRANSACTIONS - Employees (Details) - Affiliated Entity - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Employee | Jason Smith
Related Party Transaction [Line Items]
Total compensation (less than)	$ 0.2	$ 0.1	$ 0.4	$ 0.2
Employee | Jason Smith | Restricted Stock
Related Party Transaction [Line Items]
Granted (in shares)				2,239
Vesting period				2 years
Employee | Amberly Thompson
Related Party Transaction [Line Items]
Total compensation (less than)	0.1	0.1	0.1	$ 0.1
Employee | Edward Kim
Related Party Transaction [Line Items]
Total compensation (less than)	0.1	0.1	$ 0.1	$ 0.1
Employee | Edward Kim | Restricted Stock
Related Party Transaction [Line Items]
Granted (in shares)			302
Vesting period				2 years
Vice President | Frederick Smith
Related Party Transaction [Line Items]
Total compensation (less than)	0.2	0.2	$ 0.6	$ 0.6
Director | J. Duncan Smith
Related Party Transaction [Line Items]
Total compensation (less than)	$ 0.2	$ 0.2	$ 0.6	$ 0.6

FAIR VALUE MEASUREMENTS - Sched

FAIR VALUE MEASUREMENTS - Schedule of Carrying Value and Fair Value of Notes and Debentures (Details) $ / shares in Units, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022 USD ($)	Sep. 30, 2021 USD ($)	Sep. 30, 2022 USD ($) $ / shares	Sep. 30, 2021 USD ($)	Apr. 21, 2022 USD ($)	Dec. 31, 2021 USD ($)	Nov. 18, 2020
FAIR VALUE MEASUREMENTS:
Investments in equity securities	$ 216		$ 216			$ 402
Debt discount and deferred financing costs	$ 58		$ 58			$ 158
Senior Notes | 5.875% Senior Notes due 2026
FAIR VALUE MEASUREMENTS:
Interest rate (as a percent)	5.875%		5.875%
Senior Notes | 5.500% Senior Notes due 2030
FAIR VALUE MEASUREMENTS:
Interest rate (as a percent)	5.50%		5.50%
Senior Notes | 5.125% Senior Notes due 2027
FAIR VALUE MEASUREMENTS:
Interest rate (as a percent)	5.125%		5.125%		5.875%
Purchased aggregate principal amount	$ 118		$ 118
Repayments of senior debt			$ 104
Senior Notes | 12.750% Senior Secured Notes due 2026
FAIR VALUE MEASUREMENTS:
Interest rate (as a percent)	12.75%		12.75%
Senior Notes | 6.625% Senior Unsecured Notes due 2027
FAIR VALUE MEASUREMENTS:
Interest rate (as a percent)	6.625%		6.625%
Senior Notes | 5.375% Senior Secured Notes due 2026
FAIR VALUE MEASUREMENTS:
Interest rate (as a percent)	5.375%		5.375%
Term Loan | Term Loan B-4, due April 21, 2029
FAIR VALUE MEASUREMENTS:
Aggregate principal amount					$ 750
Bally's
FAIR VALUE MEASUREMENTS:
Option purchase price, minimum (in dollars per share) | $ / shares			$ 30
Option purchase price, maximum (in dollars per share) | $ / shares			$ 45
Ownership interest, portion precluded from owning maximum (as a percent)							4.90%
Bally's | Options and Warrants
FAIR VALUE MEASUREMENTS:
Measurement adjustments	$ (0.2)	$ (30)	$ (130)	$ 22
Weighted average discount rate (as a percent)	0.12		0.12			0.16
Level 1 | Face Value
FAIR VALUE MEASUREMENTS:
Investments in equity securities	$ 5		$ 5			$ 5
Deferred compensation assets	38		38			48
Deferred compensation liabilities	32		32			38
Level 1 | Face Value | STG Money Market Funds
FAIR VALUE MEASUREMENTS:
Money market funds	467		467			265
Level 1 | Face Value | DSG Money Market Funds
FAIR VALUE MEASUREMENTS:
Money market funds	0		0			101
Level 1 | Fair Value
FAIR VALUE MEASUREMENTS:
Investments in equity securities	5		5			5
Deferred compensation assets	38		38			48
Deferred compensation liabilities	32		32			38
Level 1 | Fair Value | STG Money Market Funds
FAIR VALUE MEASUREMENTS:
Money market funds	467		467			265
Level 1 | Fair Value | DSG Money Market Funds
FAIR VALUE MEASUREMENTS:
Money market funds	0		0			101
Level 2 | Face Value
FAIR VALUE MEASUREMENTS:
Investments in equity securities	59		59			114
Level 2 | Face Value | Debt of variable interest entities
FAIR VALUE MEASUREMENTS:
Debt fair value disclosure	8		8			9
Level 2 | Face Value | Debt of non-media subsidiaries
FAIR VALUE MEASUREMENTS:
Debt fair value disclosure	16		16			17
Level 2 | Face Value | Senior Notes | 5.875% Senior Notes due 2026
FAIR VALUE MEASUREMENTS:
Debt fair value disclosure	0		0			348
Level 2 | Face Value | Senior Notes | 5.500% Senior Notes due 2030
FAIR VALUE MEASUREMENTS:
Debt fair value disclosure	500		500			500
Level 2 | Face Value | Senior Notes | 5.125% Senior Notes due 2027
FAIR VALUE MEASUREMENTS:
Debt fair value disclosure	282		282			400
Level 2 | Face Value | Senior Notes | 4.125% Senior Secured Notes due 2030
FAIR VALUE MEASUREMENTS:
Debt fair value disclosure	750		750			750
Level 2 | Face Value | Senior Notes | 12.750% Senior Secured Notes due 2026
FAIR VALUE MEASUREMENTS:
Debt fair value disclosure	0		0			31
Level 2 | Face Value | Senior Notes | 6.625% Senior Unsecured Notes due 2027
FAIR VALUE MEASUREMENTS:
Debt fair value disclosure	0		0			1,744
Level 2 | Face Value | Senior Notes | 5.375% Senior Secured Notes due 2026
FAIR VALUE MEASUREMENTS:
Debt fair value disclosure	0		0			3,050
Level 2 | Face Value | Term Loan | Term Loan B-1, due January 3, 2024
FAIR VALUE MEASUREMENTS:
Debt fair value disclosure	0		0			379
Level 2 | Face Value | Term Loan | Term Loan B-2, due September 30, 2026
FAIR VALUE MEASUREMENTS:
Debt fair value disclosure	1,261		1,261			1,271
Level 2 | Face Value | Term Loan | Term Loan B-3, due April 1, 2028
FAIR VALUE MEASUREMENTS:
Debt fair value disclosure	731		731			736
Level 2 | Face Value | Term Loan | Term Loan B-4, due April 21, 2029
FAIR VALUE MEASUREMENTS:
Debt fair value disclosure	748		748			0
Level 2 | Face Value | Term Loan | Term Loan, due August 24, 2026
FAIR VALUE MEASUREMENTS:
Debt fair value disclosure	0		0			3,226
Level 2 | Fair Value
FAIR VALUE MEASUREMENTS:
Investments in equity securities	59		59			114
Level 2 | Fair Value | Debt of variable interest entities
FAIR VALUE MEASUREMENTS:
Debt fair value disclosure	8		8			9
Level 2 | Fair Value | Debt of non-media subsidiaries
FAIR VALUE MEASUREMENTS:
Debt fair value disclosure	16		16			17
Level 2 | Fair Value | Senior Notes | 5.875% Senior Notes due 2026
FAIR VALUE MEASUREMENTS:
Debt fair value disclosure	0		0			357
Level 2 | Fair Value | Senior Notes | 5.500% Senior Notes due 2030
FAIR VALUE MEASUREMENTS:
Debt fair value disclosure	359		359			489
Level 2 | Fair Value | Senior Notes | 5.125% Senior Notes due 2027
FAIR VALUE MEASUREMENTS:
Debt fair value disclosure	233		233			391
Level 2 | Fair Value | Senior Notes | 4.125% Senior Secured Notes due 2030
FAIR VALUE MEASUREMENTS:
Debt fair value disclosure	565		565			712
Level 2 | Fair Value | Senior Notes | 12.750% Senior Secured Notes due 2026
FAIR VALUE MEASUREMENTS:
Debt fair value disclosure	0		0			17
Level 2 | Fair Value | Senior Notes | 6.625% Senior Unsecured Notes due 2027
FAIR VALUE MEASUREMENTS:
Debt fair value disclosure	0		0			490
Level 2 | Fair Value | Senior Notes | 5.375% Senior Secured Notes due 2026
FAIR VALUE MEASUREMENTS:
Debt fair value disclosure	0		0			1,525
Level 2 | Fair Value | Term Loan | Term Loan B-1, due January 3, 2024
FAIR VALUE MEASUREMENTS:
Debt fair value disclosure	0		0			373
Level 2 | Fair Value | Term Loan | Term Loan B-2, due September 30, 2026
FAIR VALUE MEASUREMENTS:
Debt fair value disclosure	1,188		1,188			1,239
Level 2 | Fair Value | Term Loan | Term Loan B-3, due April 1, 2028
FAIR VALUE MEASUREMENTS:
Debt fair value disclosure	683		683			722
Level 2 | Fair Value | Term Loan | Term Loan B-4, due April 21, 2029
FAIR VALUE MEASUREMENTS:
Debt fair value disclosure	703		703			0
Level 2 | Fair Value | Term Loan | Term Loan, due August 24, 2026
FAIR VALUE MEASUREMENTS:
Debt fair value disclosure	0		0			1,484
Level 3 | Face Value
FAIR VALUE MEASUREMENTS:
Investments in equity securities	152		152			282
Level 3 | Face Value | Options and Warrants
FAIR VALUE MEASUREMENTS:
Measurement adjustments	0	$ (30)	(130)	$ 22
Level 3 | Fair Value
FAIR VALUE MEASUREMENTS:
Investments in equity securities	$ 152		$ 152			$ 282

FAIR VALUE MEASUREMENTS - Sch_2

FAIR VALUE MEASUREMENTS - Schedule of Level 3 Activity (Details) - Level 3 - Face Value - Options and Warrants - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair value at beginning of period	$ 152	$ 384	$ 282	$ 332
Measurement adjustments	0	(30)	(130)	22
Fair value at end of period	$ 152	$ 354	$ 152	$ 354

CONDENSED CONSOLIDATING FINAN_3

CONDENSED CONSOLIDATING FINANCIAL STATEMENTS - Narrative (Details) - USD ($) $ in Millions	Sep. 30, 2022	Apr. 21, 2022
Debt Instrument [Line Items]
Consolidated total debt	$ 4,269
Subsidiary Issuer
Debt Instrument [Line Items]
Consolidated total debt	4,253
Amount of debt guaranteed by parent	$ 4,222
5.125% Senior Notes due 2027 | Senior Notes
Debt Instrument [Line Items]
Interest rate (as a percent)	5.125%	5.875%
5.125% Senior Notes due 2027 | Sinclair Television Group, Inc. | Senior Notes
Debt Instrument [Line Items]
Interest rate (as a percent)	5.125%
5.500% Senior Notes due 2030 | Senior Notes
Debt Instrument [Line Items]
Interest rate (as a percent)	5.50%
5.500% Senior Notes due 2030 | Sinclair Television Group, Inc. | Senior Notes
Debt Instrument [Line Items]
Interest rate (as a percent)	5.50%
4.125% Senior Secured Notes due 2030 | Sinclair Television Group, Inc. | Senior Notes
Debt Instrument [Line Items]
Interest rate (as a percent)	4.125%

CONDENSED CONSOLIDATING FINAN_4

CONDENSED CONSOLIDATING FINANCIAL STATEMENTS - Balance Sheet (Details) - USD ($) $ in Millions		Sep. 30, 2022	Dec. 31, 2021
CONDENSED CONSOLIDATING BALANCE SHEET
Cash and cash equivalents		$ 607	$ 816
Accounts receivable, net		586	1,245
Other current assets		370	410
Total current assets		1,563	2,471
Property and equipment, net		720	833
Investment in equity of consolidated subsidiaries		0	0
Restricted cash		0	3
Goodwill		2,088	2,088
Indefinite-lived intangible assets		150	150
Definite-lived intangible assets, net		989	5,088
Other long-term assets		1,095	1,908
Total assets	[1]	6,605	12,541
Accounts payable and accrued liabilities		412	655
Current portion of long-term debt		43	69
Other current liabilities		233	478
Total current liabilities		688	1,202
Long-term debt		4,226	12,271
Investment in deficit of consolidated subsidiaries			0
Other long-term liabilities		861	577
Total liabilities	[1]	5,775	14,050
Redeemable noncontrolling interests		190	197
Total Sinclair Broadcast Group equity		706	(1,770)
Noncontrolling interests in consolidated subsidiaries		(66)	64
Total liabilities, redeemable noncontrolling interests, and equity		6,605	12,541
Reportable Legal Entities | Sinclair Broadcast Group, Inc.
CONDENSED CONSOLIDATING BALANCE SHEET
Cash and cash equivalents		33	2
Accounts receivable, net		0	0
Other current assets		22	10
Total current assets		55	12
Property and equipment, net		1	1
Investment in equity of consolidated subsidiaries		851	451
Restricted cash			0
Goodwill		0	0
Indefinite-lived intangible assets		0	0
Definite-lived intangible assets, net		0	0
Other long-term assets		546	331
Total assets		1,453	795
Accounts payable and accrued liabilities		0	31
Current portion of long-term debt		0	0
Other current liabilities		2	2
Total current liabilities		2	33
Long-term debt		0	915
Investment in deficit of consolidated subsidiaries			1,605
Other long-term liabilities		745	12
Total liabilities		747	2,565
Redeemable noncontrolling interests		0	0
Total Sinclair Broadcast Group equity		706	(1,770)
Noncontrolling interests in consolidated subsidiaries		0	0
Total liabilities, redeemable noncontrolling interests, and equity		1,453	795
Reportable Legal Entities | Sinclair Television Group, Inc.
CONDENSED CONSOLIDATING BALANCE SHEET
Cash and cash equivalents		483	316
Accounts receivable, net		0	0
Other current assets		43	82
Total current assets		526	398
Property and equipment, net		32	31
Investment in equity of consolidated subsidiaries		3,090	3,448
Restricted cash			0
Goodwill		0	0
Indefinite-lived intangible assets		0	0
Definite-lived intangible assets, net		0	0
Other long-term assets		917	1,956
Total assets		4,565	5,833
Accounts payable and accrued liabilities		92	85
Current portion of long-term debt		28	20
Other current liabilities		3	6
Total current liabilities		123	111
Long-term debt		4,185	4,317
Investment in deficit of consolidated subsidiaries			0
Other long-term liabilities		55	69
Total liabilities		4,363	4,497
Redeemable noncontrolling interests		0	0
Total Sinclair Broadcast Group equity		202	1,336
Noncontrolling interests in consolidated subsidiaries		0	0
Total liabilities, redeemable noncontrolling interests, and equity		4,565	5,833
Reportable Legal Entities | Guarantor Subsidiaries and KDSM, LLC
CONDENSED CONSOLIDATING BALANCE SHEET
Cash and cash equivalents		1	2
Accounts receivable, net		533	649
Other current assets		341	293
Total current assets		875	944
Property and equipment, net		661	664
Investment in equity of consolidated subsidiaries		0	0
Restricted cash			0
Goodwill		2,081	2,081
Indefinite-lived intangible assets		136	136
Definite-lived intangible assets, net		977	1,105
Other long-term assets		392	427
Total assets		5,122	5,357
Accounts payable and accrued liabilities		301	295
Current portion of long-term debt		6	5
Other current liabilities		197	155
Total current liabilities		504	455
Long-term debt		25	33
Investment in deficit of consolidated subsidiaries			0
Other long-term liabilities		1,507	1,426
Total liabilities		2,036	1,914
Redeemable noncontrolling interests		0	0
Total Sinclair Broadcast Group equity		3,086	3,443
Noncontrolling interests in consolidated subsidiaries		0	0
Total liabilities, redeemable noncontrolling interests, and equity		5,122	5,357
Reportable Legal Entities | Non- Guarantor Subsidiaries
CONDENSED CONSOLIDATING BALANCE SHEET
Cash and cash equivalents		90	496
Accounts receivable, net		53	596
Other current assets		21	136
Total current assets		164	1,228
Property and equipment, net		48	161
Investment in equity of consolidated subsidiaries		0	0
Restricted cash			3
Goodwill		7	7
Indefinite-lived intangible assets		14	14
Definite-lived intangible assets, net		44	4,019
Other long-term assets		1,141	1,853
Total assets		1,418	7,285
Accounts payable and accrued liabilities		20	279
Current portion of long-term debt		10	45
Other current liabilities		88	392
Total current liabilities		118	716
Long-term debt		378	8,488
Investment in deficit of consolidated subsidiaries			0
Other long-term liabilities		318	468
Total liabilities		814	9,672
Redeemable noncontrolling interests		190	197
Total Sinclair Broadcast Group equity		483	(2,644)
Noncontrolling interests in consolidated subsidiaries		(69)	60
Total liabilities, redeemable noncontrolling interests, and equity		1,418	7,285
Eliminations
CONDENSED CONSOLIDATING BALANCE SHEET
Cash and cash equivalents		0	0
Accounts receivable, net		0	0
Other current assets		(57)	(111)
Total current assets		(57)	(111)
Property and equipment, net		(22)	(24)
Investment in equity of consolidated subsidiaries		(3,941)	(3,899)
Restricted cash			0
Goodwill		0	0
Indefinite-lived intangible assets		0	0
Definite-lived intangible assets, net		(32)	(36)
Other long-term assets		(1,901)	(2,659)
Total assets		(5,953)	(6,729)
Accounts payable and accrued liabilities		(1)	(35)
Current portion of long-term debt		(1)	(1)
Other current liabilities		(57)	(77)
Total current liabilities		(59)	(113)
Long-term debt		(362)	(1,482)
Investment in deficit of consolidated subsidiaries			(1,605)
Other long-term liabilities		(1,764)	(1,398)
Total liabilities		(2,185)	(4,598)
Redeemable noncontrolling interests		0	0
Total Sinclair Broadcast Group equity		(3,771)	(2,135)
Noncontrolling interests in consolidated subsidiaries		3	4
Total liabilities, redeemable noncontrolling interests, and equity		$ (5,953)	$ (6,729)
[1]Our consolidated total assets as of September 30, 2022 and December 31, 2021 include total assets of variable interest entities ("VIE") of $113 million and $217 million, respectively, which can only be used to settle the obligations of the VIEs. Our consolidated total liabilities as of September 30, 2022 and December 31, 2021 include total liabilities of VIEs of $18 million and $62 million, respectively, for which the creditors of the VIEs have no recourse to us. See Note 9. Variable Interest Entities .

CONDENSED CONSOLIDATING FINAN_5

CONDENSED CONSOLIDATING FINANCIAL STATEMENTS - Statement of Operations and Comprehensive Income (Details) - USD ($) $ in Millions		3 Months Ended		9 Months Ended
	Mar. 01, 2022	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME
Total revenues		$ 843	$ 1,535	$ 2,968	$ 4,658
Media programming and production expenses		396	1,022	1,557	3,390
Selling, general and administrative expenses		220	263	720	807
Gain on deconsolidation of subsidiary	$ (3,357)	0	0	(3,357)	0
Depreciation, amortization and other operating (gains) expenses		73	177	321	531
Total operating expenses (gains)		689	1,462	(759)	4,728
Operating (loss) income		154	73	3,727	(70)
Equity in earnings of consolidated subsidiaries		0	0	0	0
Interest expense		(59)	(155)	(228)	(466)
Other income (expense)		43	8	(104)	82
Total other expense, net		(16)	(147)	(332)	(384)
Income tax benefit (provision)		(109)	91	(756)	169
NET INCOME (LOSS)		29	17	2,639	(285)
Net income attributable to the redeemable noncontrolling interests		(5)	(4)	(14)	(13)
Net (income) loss attributable to the noncontrolling interests		(3)	6	(28)	(27)
NET INCOME (LOSS) ATTRIBUTABLE TO SINCLAIR BROADCAST GROUP		21	19	2,597	(325)
Comprehensive income (loss)		29	18	2,642	(279)
Reportable Legal Entities | Sinclair Broadcast Group, Inc.
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME
Total revenues		0	0	0	0
Media programming and production expenses		0	0	0	0
Selling, general and administrative expenses		15	3	21	10
Gain on deconsolidation of subsidiary				(3,357)
Depreciation, amortization and other operating (gains) expenses		(9)	0	(8)	0
Total operating expenses (gains)		6	3	(3,344)	10
Operating (loss) income		(6)	(3)	3,344	(10)
Equity in earnings of consolidated subsidiaries		17	21	(33)	(267)
Interest expense		0	(3)	(4)	(10)
Other income (expense)		11	2	21	(61)
Total other expense, net		28	20	(16)	(338)
Income tax benefit (provision)		(1)	2	(731)	23
NET INCOME (LOSS)		21	19	2,597	(325)
Net income attributable to the redeemable noncontrolling interests		0	0	0	0
Net (income) loss attributable to the noncontrolling interests		0	0	0	0
NET INCOME (LOSS) ATTRIBUTABLE TO SINCLAIR BROADCAST GROUP		21	19	2,597	(325)
Comprehensive income (loss)		21	19	2,597	(325)
Reportable Legal Entities | Sinclair Television Group, Inc.
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME
Total revenues		13	28	53	83
Media programming and production expenses		2	1	4	3
Selling, general and administrative expenses		23	33	109	123
Gain on deconsolidation of subsidiary				0
Depreciation, amortization and other operating (gains) expenses		2	2	5	6
Total operating expenses (gains)		27	36	118	132
Operating (loss) income		(14)	(8)	(65)	(49)
Equity in earnings of consolidated subsidiaries		132	113	351	317
Interest expense		(58)	(43)	(155)	(135)
Other income (expense)		0	(3)	(1)	11
Total other expense, net		74	67	195	193
Income tax benefit (provision)		14	9	44	38
NET INCOME (LOSS)		74	68	174	182
Net income attributable to the redeemable noncontrolling interests		0	0	0	0
Net (income) loss attributable to the noncontrolling interests		0	0	0	0
NET INCOME (LOSS) ATTRIBUTABLE TO SINCLAIR BROADCAST GROUP		74	68	174	182
Comprehensive income (loss)		74	68	174	182
Reportable Legal Entities | Guarantor Subsidiaries and KDSM, LLC
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME
Total revenues		813	758	2,424	2,207
Media programming and production expenses		375	366	1,120	1,073
Selling, general and administrative expenses		185	176	590	515
Gain on deconsolidation of subsidiary				0
Depreciation, amortization and other operating (gains) expenses		78	81	246	240
Total operating expenses (gains)		638	623	1,956	1,828
Operating (loss) income		175	135	468	379
Equity in earnings of consolidated subsidiaries		0	0	0	0
Interest expense		(1)	(1)	(2)	(2)
Other income (expense)		0	(2)	3	(24)
Total other expense, net		(1)	(3)	1	(26)
Income tax benefit (provision)		(41)	(16)	(115)	(31)
NET INCOME (LOSS)		133	116	354	322
Net income attributable to the redeemable noncontrolling interests		0	0	0	0
Net (income) loss attributable to the noncontrolling interests		0	0	0	0
NET INCOME (LOSS) ATTRIBUTABLE TO SINCLAIR BROADCAST GROUP		133	116	354	322
Comprehensive income (loss)		133	116	354	322
Reportable Legal Entities | Non- Guarantor Subsidiaries
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME
Total revenues		47	803	624	2,507
Media programming and production expenses		38	671	486	2,354
Selling, general and administrative expenses		3	87	72	252
Gain on deconsolidation of subsidiary				0
Depreciation, amortization and other operating (gains) expenses		4	95	86	290
Total operating expenses (gains)		45	853	644	2,896
Operating (loss) income		2	(50)	(20)	(389)
Equity in earnings of consolidated subsidiaries		0	0	0	0
Interest expense		(3)	(113)	(82)	(337)
Other income (expense)		31	14	(122)	166
Total other expense, net		28	(99)	(204)	(171)
Income tax benefit (provision)		(81)	96	46	139
NET INCOME (LOSS)		(51)	(53)	(178)	(421)
Net income attributable to the redeemable noncontrolling interests		(5)	(4)	(14)	(13)
Net (income) loss attributable to the noncontrolling interests		(3)	6	(28)	(27)
NET INCOME (LOSS) ATTRIBUTABLE TO SINCLAIR BROADCAST GROUP		(59)	(51)	(220)	(461)
Comprehensive income (loss)		(51)	(52)	(175)	(415)
Eliminations
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME
Total revenues		(30)	(54)	(133)	(139)
Media programming and production expenses		(19)	(16)	(53)	(40)
Selling, general and administrative expenses		(6)	(36)	(72)	(93)
Gain on deconsolidation of subsidiary				0
Depreciation, amortization and other operating (gains) expenses		(2)	(1)	(8)	(5)
Total operating expenses (gains)		(27)	(53)	(133)	(138)
Operating (loss) income		(3)	(1)	0	(1)
Equity in earnings of consolidated subsidiaries		(149)	(134)	(318)	(50)
Interest expense		3	5	15	18
Other income (expense)		1	(3)	(5)	(10)
Total other expense, net		(145)	(132)	(308)	(42)
Income tax benefit (provision)		0	0	0	0
NET INCOME (LOSS)		(148)	(133)	(308)	(43)
Net income attributable to the redeemable noncontrolling interests		0	0	0	0
Net (income) loss attributable to the noncontrolling interests		0	0	0	0
NET INCOME (LOSS) ATTRIBUTABLE TO SINCLAIR BROADCAST GROUP		(148)	(133)	(308)	(43)
Comprehensive income (loss)		$ (148)	$ (133)	$ (308)	$ (43)

CONDENSED CONSOLIDATING FINAN_6

CONDENSED CONSOLIDATING FINANCIAL STATEMENTS - Statement of Cash Flows (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME
NET CASH FLOWS (USED IN) FROM OPERATING ACTIVITIES	$ 458	$ 235
NET CASH FLOWS FROM (USED IN) INVESTING ACTIVITIES
Acquisition of property and equipment	(74)	(62)
Spectrum repack reimbursements	3	22
Proceeds from sale of assets	9	43
Deconsolidation of subsidiary cash	(315)	0
Purchases of investments	(67)	(244)
Distributions from investments	90	11
Other, net	2	(1)
Net cash flows used in investing activities	(352)	(231)
NET CASH FLOWS FROM (USED IN) FINANCING ACTIVITIES
Proceeds from notes payable and commercial bank financing	728	357
Repayments of notes payable, commercial bank financing and finance leases	(854)	(400)
Repurchase of outstanding Class A Common Stock	(114)	0
Dividends paid on Class A and Class B Common Stock	(53)	(46)
Dividends paid on redeemable subsidiary preferred equity	(5)	(4)
Distributions to noncontrolling interests, net	(10)	(63)
Distributions to redeemable noncontrolling interests	0	(5)
Increase (decrease) in intercompany payables	0	0
Other, net	(10)	(44)
Net cash flows used in financing activities	(318)	(205)
NET DECREASE IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH	(212)	(201)
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH, beginning of period	819	1,262
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH, end of period	607	1,061
Reportable Legal Entities | Sinclair Broadcast Group, Inc.
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME
NET CASH FLOWS (USED IN) FROM OPERATING ACTIVITIES	(91)	8
NET CASH FLOWS FROM (USED IN) INVESTING ACTIVITIES
Acquisition of property and equipment	0	0
Spectrum repack reimbursements	0	0
Proceeds from sale of assets	0	0
Deconsolidation of subsidiary cash	0
Purchases of investments	(46)	(7)
Distributions from investments	60	0
Other, net	0	0
Net cash flows used in investing activities	14	(7)
NET CASH FLOWS FROM (USED IN) FINANCING ACTIVITIES
Proceeds from notes payable and commercial bank financing	0	0
Repayments of notes payable, commercial bank financing and finance leases	0	0
Repurchase of outstanding Class A Common Stock	(114)
Dividends paid on Class A and Class B Common Stock	(53)	(46)
Dividends paid on redeemable subsidiary preferred equity	0	0
Distributions to noncontrolling interests, net	0	0
Distributions to redeemable noncontrolling interests		0
Increase (decrease) in intercompany payables	277	57
Other, net	(2)	(12)
Net cash flows used in financing activities	108	(1)
NET DECREASE IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH	31	0
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH, beginning of period	2	0
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH, end of period	33	0
Reportable Legal Entities | Sinclair Television Group, Inc.
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME
NET CASH FLOWS (USED IN) FROM OPERATING ACTIVITIES	(136)	(100)
NET CASH FLOWS FROM (USED IN) INVESTING ACTIVITIES
Acquisition of property and equipment	(3)	(1)
Spectrum repack reimbursements	0	0
Proceeds from sale of assets	0	0
Deconsolidation of subsidiary cash	0
Purchases of investments	(1)	(12)
Distributions from investments	0	0
Other, net	2	0
Net cash flows used in investing activities	(2)	(13)
NET CASH FLOWS FROM (USED IN) FINANCING ACTIVITIES
Proceeds from notes payable and commercial bank financing	728	341
Repayments of notes payable, commercial bank financing and finance leases	(848)	(356)
Repurchase of outstanding Class A Common Stock	0
Dividends paid on Class A and Class B Common Stock	0	0
Dividends paid on redeemable subsidiary preferred equity	0	0
Distributions to noncontrolling interests, net	0	0
Distributions to redeemable noncontrolling interests		0
Increase (decrease) in intercompany payables	433	226
Other, net	(8)	(1)
Net cash flows used in financing activities	305	210
NET DECREASE IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH	167	97
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH, beginning of period	316	458
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH, end of period	483	555
Reportable Legal Entities | Guarantor Subsidiaries and KDSM, LLC
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME
NET CASH FLOWS (USED IN) FROM OPERATING ACTIVITIES	757	317
NET CASH FLOWS FROM (USED IN) INVESTING ACTIVITIES
Acquisition of property and equipment	(71)	(48)
Spectrum repack reimbursements	3	22
Proceeds from sale of assets	5	34
Deconsolidation of subsidiary cash	0
Purchases of investments	(3)	(40)
Distributions from investments	10	0
Other, net	0	(2)
Net cash flows used in investing activities	(56)	(34)
NET CASH FLOWS FROM (USED IN) FINANCING ACTIVITIES
Proceeds from notes payable and commercial bank financing	0	0
Repayments of notes payable, commercial bank financing and finance leases	(4)	(5)
Repurchase of outstanding Class A Common Stock	0
Dividends paid on Class A and Class B Common Stock	0	0
Dividends paid on redeemable subsidiary preferred equity	0	0
Distributions to noncontrolling interests, net	0	0
Distributions to redeemable noncontrolling interests		0
Increase (decrease) in intercompany payables	(698)	(268)
Other, net	0	0
Net cash flows used in financing activities	(702)	(273)
NET DECREASE IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH	(1)	10
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH, beginning of period	2	0
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH, end of period	1	10
Reportable Legal Entities | Non- Guarantor Subsidiaries
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME
NET CASH FLOWS (USED IN) FROM OPERATING ACTIVITIES	(77)	6
NET CASH FLOWS FROM (USED IN) INVESTING ACTIVITIES
Acquisition of property and equipment	(3)	(15)
Spectrum repack reimbursements	0	0
Proceeds from sale of assets	4	9
Deconsolidation of subsidiary cash	(315)
Purchases of investments	(17)	(185)
Distributions from investments	20	11
Other, net	0	1
Net cash flows used in investing activities	(311)	(179)
NET CASH FLOWS FROM (USED IN) FINANCING ACTIVITIES
Proceeds from notes payable and commercial bank financing	0	16
Repayments of notes payable, commercial bank financing and finance leases	(2)	(39)
Repurchase of outstanding Class A Common Stock	0
Dividends paid on Class A and Class B Common Stock	0	0
Dividends paid on redeemable subsidiary preferred equity	(5)	(4)
Distributions to noncontrolling interests, net	(10)	(63)
Distributions to redeemable noncontrolling interests		(5)
Increase (decrease) in intercompany payables	(4)	(9)
Other, net	0	(31)
Net cash flows used in financing activities	(21)	(135)
NET DECREASE IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH	(409)	(308)
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH, beginning of period	499	804
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH, end of period	90	496
Eliminations
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME
NET CASH FLOWS (USED IN) FROM OPERATING ACTIVITIES	5	4
NET CASH FLOWS FROM (USED IN) INVESTING ACTIVITIES
Acquisition of property and equipment	3	2
Spectrum repack reimbursements	0	0
Proceeds from sale of assets	0	0
Deconsolidation of subsidiary cash	0
Purchases of investments	0	0
Distributions from investments	0	0
Other, net	0	0
Net cash flows used in investing activities	3	2
NET CASH FLOWS FROM (USED IN) FINANCING ACTIVITIES
Proceeds from notes payable and commercial bank financing	0	0
Repayments of notes payable, commercial bank financing and finance leases	0	0
Repurchase of outstanding Class A Common Stock	0
Dividends paid on Class A and Class B Common Stock	0	0
Dividends paid on redeemable subsidiary preferred equity	0	0
Distributions to noncontrolling interests, net	0	0
Distributions to redeemable noncontrolling interests		0
Increase (decrease) in intercompany payables	(8)	(6)
Other, net	0	0
Net cash flows used in financing activities	(8)	(6)
NET DECREASE 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

SUBSEQUENT EVENTS (Details)

SUBSEQUENT EVENTS (Details)	Nov. 09, 2022 $ / shares
Subsequent Event
Subsequent Event [Line Items]
Dividends declared per share (in dollars per share)	$ 0.25