EXHIBIT 11 SINCLAIR BROADCAST GROUP, INC. AND SUBSIDIARIES COMPUTATION OF EARNINGS PER SHARE (UNAUDITED, IN THOUSANDS, EXCEPT PER SHARE DATA) THREE MONTHS ENDED MARCH 31, 1996 1997 ------------------------ Weighted-average number of common shares ............. 34,750 34,769 Dilutive effect of outstanding stock options ......... 1 14 Dilutive effect of conversion of preferred shares .... -- 4,125 -------- -------- Weighted-average number of common and common equivalent shares outstanding ................... 34,751 38,908 ======== ======== Net loss ............................................. $ (458) $ (7,614) ======== ======== Net loss per common share ............................ $ (0.01) $ (0.22) ======== ========