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Sinclair Broadcast Group

Logo: Sinclair Broadcast Group, Public domain, via Wikimedia Commons4

American media company

Sinclair, Inc., doing business as Sinclair Broadcast Group, is a publicly traded American telecommunications conglomerate that is controlled by the descendants of company founder Julian Sinclair Smith. Headquartered in the Baltimore suburb of Cockeysville, Maryland, the company is the second-largest television station operator in the United States by number of stations after Nexstar Media Group, owning or operating 193 stations across the country in over 100 markets, covering 40% of American households.3 From Wikipedia, CC BY-SA 4.0

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Last updated Oct 18, 2026.

Overview

$3.2BRevenue, fiscal 20255
-$112.0MNet income, fiscal 20255
1971Founded1

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  • TickerSBGI on Nasdaq1
  • Industrybroadcasting, media company, telecommunications1
  • HeadquartersCockeysville1
  • Founded inBaltimore1
  • Websitewww.sbgi.net
  • Legal formpublic company1
  • Listed onNasdaq (SBGI), Nasdaq-100, Russell 1000 Index1
Sinclair Broadcasting Hq
Photo: James G. Howes , photographer., Attribution, via Wikimedia Commons7

Sinclair, Inc., doing business as Sinclair Broadcast Group, is a publicly traded American telecommunications conglomerate that is controlled by the descendants of company founder Julian Sinclair Smith. Headquartered in the Baltimore suburb of Cockeysville, Maryland, the company is the second-largest television station operator in the United States by number of stations after Nexstar Media Group, owning or operating 193 stations across the country in over 100 markets, covering 40% of American households.3

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

5.5%Operating margin5
-3.5%Net margin5
-10.7%Revenue growth, 20255
-25.3%Return on equity5
9.82×Debt to equity5
$115.0MFree cash flow5

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Business segments

Local Media brought in 87% of the revenue Sinclair Broadcast Group broke down this way in fiscal 2025.

  1. Local Media$2.8B587%down 15% from 2024
  2. Tennis$265.0M58%up 7% from 2024
  3. Other Operating$166.0M55%up 118% from 2024
Business segments by year
Business segments202320242025
Local Media$2.9B$3.3B$2.8B
Tennis$228.0M$247.0M$265.0M
Other Operating$62.0M$76.0M$166.0M

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Selling, general and admin25¢$806.0M
  • Other costs73¢$2.3B
  • Income tax2¢$54.0M

Out of $3.2B in revenue.5 The company lost money this year.

Where each dollar of operating cash went, fiscal 2025

  • Capital spending39¢$74.0M
  • Dividends paid37¢$69.0M
  • Kept or used elsewhere24¢$46.0M

Out of $189.0M of cash from operations.5

Financial statements

Revenue891011125$3.2B in 2025+4% since 2018
0$2.0B$4.0B$6.0B$8.0B2018: $3.1B$3.1B20182019: $4.2B$4.2B2019+39%2020: $5.9B$5.9B2020+40%2021: $6.1B$6.1B2021+3%2022: $3.9B$3.9B2022−36%2023: $3.1B$3.1B2023−20%2024: $3.5B$3.5B2024+13%2025: $3.2B$3.2B2025−11%
Operating income891011125$173.0M in 2025−74% since 2018
-$4.0B-$2.0B0$2.0B$4.0B2018: $660.0M$660.0M20182019: $470.0M$470.0M2019−29%2020: -$2.8B-$2.8B20202021: $95.0M$95.0M20212022: $4.0B$4.0B2022+4089%2023: -$331.0M-$331.0M20232024: $551.0M$551.0M20242025: $173.0M$173.0M2025−69%
Net income891011125-$112.0M in 2025
-$4.0B-$2.0B0$2.0B$4.0B2018: $346.0M$346.0M20182019: $47.0M$47.0M2019−86%2020: -$2.4B-$2.4B20202021: -$414.0M-$414.0M2021−83%2022: $2.7B$2.7B20222023: -$291.0M-$291.0M20232024: $310.0M$310.0M20242025: -$112.0M-$112.0M2025

Every line of the income statement as filed: the last 3 fiscal years, latest first.5

Period ending2025-12-312024-12-312023-12-31
Media Revenue$3.1B$3.5B$3.1B
Non-media revenue$27.0M$37.0M$28.0M
Total revenue$3.2B$3.5B$3.1B
Media programming and production expenses$1.7B$1.7B$1.6B
Media selling, general and administrative expenses$806.0M$794.0M$747.0M
Amortization of program contract costs$74.0M$74.0M$80.0M
Non-media expenses$48.0M$53.0M$49.0M
Depreciation of property and equipment$104.0M$101.0M$105.0M
Corporate general and administrative expenses$185.0M$185.0M$694.0M
Amortization of definite-lived intangible and other assets$145.0M$149.0M$166.0M
Loss on deconsolidation of subsidiary$0$0$10.0M
(Gain) loss on asset dispositions and other, net-$19.0M-$20.0M$3.0M
Total operating expenses$3.0B$3.0B$3.5B
Operating income (loss)$173.0M$551.0M-$331.0M
Interest expense including amortization of debt discount and deferred financing costs-$395.0M-$304.0M-$305.0M
Gain on extinguishment of debt$6.0M$1.0M$15.0M
Income from equity method investments$61.0M$118.0M$29.0M
Other income (expense), net$2.0M$29.0M-$45.0M
Total other expense, net-$326.0M-$156.0M-$306.0M
(Loss) income before income taxes-$153.0M$395.0M-$637.0M
INCOME TAX BENEFIT (PROVISION)$54.0M-$76.0M$358.0M
NET (LOSS) INCOME-$99.0M$319.0M-$279.0M
Net loss attributable to the redeemable noncontrolling interests$0$0$4.0M
Net income attributable to the noncontrolling interests-$13.0M-$9.0M-$16.0M
NET (LOSS) INCOME ATTRIBUTABLE TO SINCLAIR-$112.0M$310.0M-$291.0M
Basic (loss) earnings per share (in dollars per share)-$1.61$4.72-$4.46
Diluted (loss) earnings per share (in dollars per share)-$1.61$4.69-$4.46
Basic weighted average common shares outstanding (in shares)69.1M shares65.8M shares65.1M shares
Diluted weighted average common and common equivalent shares outstanding (in shares)69.1M shares66.1M shares65.1M shares

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The story

Founded by Julian Sinclair Smith in 1971, in Baltimore.1

History

Early roots

The company's roots date back to the late 1950s, when electrical engineer Julian Sinclair Smith and his wife Carolyn B. Smith, owning 34.5% of the shares, along with a group of shareholders, formed the Commercial Radio Institute, a broadcasting trade school in Baltimore, Maryland. In March 1958, Commercial Radio Institute applied to build an FM radio station in Baltimore. In April 1959, the Federal Communications Commission (FCC) granted the construction permit – for the estimated US$25,964 (equivalent to $286,800 in 2025) construction project. Sinclair's first station, WFMM-FM (now WPOC), signed on the air in February 1960. In 1967, Smith, as Chesapeake Engineering Placement Service, partly owned by the name-shortened Commercial Radio Inc., applied for and was granted, a construction permit for a new UHF television station in Baltimore, expected to be operating by September 1968 on channel 45, no call sign yet assigned.

Chesapeake Television Corporation

Channel 45, with the call sign WBFF, joined on April 11, 1971. By that time, Chesapeake Engineering Placement Service had changed its name to Chesapeake Television Corporation. The Commercial Radio Institute, by then a division of Chesapeake Television Corporation, founded WPTT (now WPNT) in Pittsburgh, in 1978, and WTTE in Columbus, Ohio, in 1984. All three stations originally were independents. In 1986, WBFF and WTTE became charter affiliates of the Fox Broadcasting Company at its launch. The Fox affiliation in Pittsburgh went to higher-rated WPGH-TV, which was purchased by Sinclair in 1990.

Chesapeake's first foray into local news came in the early 1980s when it launched a newscast on WPTT, a rarity at this time for stations not affiliated with the then-major networks (ABC, CBS and NBC). This newscast was called WPTT News. In the opening segment, the letters "news" were formed from a compass indicating the four cardinal directions. This opening segment, featuring then-anchorman Kevin Evans, appeared briefly, and was audible, in the movie Flashdance during a scene where Jennifer Beals' character returns home and turns on the television.

The presentation was relatively low-budget, with the anchor simply reading copy, with no field video shots other than the weather read over a stock video shot denoting the conditions outside. It was not a factor in taking ratings away from then-market laggard WIIC-TV, now WPXI, much less solid runner-up WTAE-TV and then-locally owned Group W powerhouse KDKA-TV. As WBFF did not air newscasts until 1991 and WTTE would not air any newscasts from its 1984 sign-on until Sinclair purchased ABC affiliate WSYX in 1996, this marked the company's only foray into local news for years, a genre it became much more involved in from the mid-1990s on.

1985–2010

Smith's son David D. Smith began taking a more active role in the company in the 1980s. In 1985, the Chesapeake Television Corporation changed its name to Sinclair Broadcast Group. In 1990, David and his three brothers bought their parents' remaining stock and went on a buying spree that eventually made it one of the largest station owners in the country, through the purchases of stations and of companies that owned groups of stations.

Sinclair pioneered the concept of the local marketing agreement (LMA) in American television in 1991, when it sold WPTT to its general manager Eddie Edwards (founder of Glencairn, Ltd., the Sinclair-affiliated licensee that would eventually become Cunningham Broadcasting) in order to purchase fellow Pittsburgh station WPGH-TV to comply with FCC ownership rules of the time that prohibited duopolies, while agreeing to allow Sinclair to retain operational responsibilities for the station. However, while LMAs would become an integral part of the company's business model in subsequent years, Sinclair's plans to acquire KOKH-TV in Oklahoma City through Glencairn, which would subsequently attempt to sell five of its 11 existing LMA-operated stations to Sinclair outright in turn (with Sinclair stock included in the deal) was challenged by the Rainbow/PUSH coalition (headed by Jesse Jackson) to the Federal Communications Commission (FCC) in 1998, citing concerns over a single company controlling two broadcast licenses in the same market in violation of FCC rules. The coalition argued that Glencairn passed itself off as a minority-owned company (Edwards is African American) which, since the Smith family controlled most of the company's stock, was technically a Sinclair arm that planned to use the LMA with KOKH to gain control of the station and create an illegal duopoly with KOCB. In 2001, the FCC levied a $40,000 fine against Sinclair for illegally controlling Glencairn. Sinclair became a publicly listed company in 1995, raising $105 million in a sale of 5 million shares at its opening on NASDAQ on June 6. The Smith family retained a controlling interest.

In 1994, Sinclair signed a deal with Paramount and its UPN network, bringing five affiliates WPTT-TV in Pittsburgh, WNUV-TV in Baltimore, WCGV-TV in Milwaukee, WSTR-TV in Cincinnati and KSMO-TV in Kansas City to the network. In 1996, Sinclair bought out Superior Communications for $63 million. In 1997, Sinclair reached a deal with The WB to convert many of the UPN affiliates to The WB. Following the disputes, in August 1998, Sinclair and UPN signed a new agreement. In February 1998, Sinclair bought out Sullivan Broadcasting for $1 billion. In 1998, Sinclair bought out Max Media Properties, for $252 million. In November 2004, Sinclair sold off KSMO-TV in Kansas City to Meredith Corporation for $26.8 million. In December 2004, Sinclair divested KOVR-TV in Sacramento to Viacom, now Paramount Global, for $285 million.

In 2004, as a response when LIN Media signed ABC affiliates WDTN and WAND to NBC, Sinclair Broadcast Group converted two of its NBC affiliates WICS/WICD and WKEF to ABC. In July 2009, in a filing with the Securities and Exchange Commission, Sinclair stated that if the company could not refinance its $1.33 billion debt, or if Cunningham Broadcasting became insolvent due to nonpayment on a loan worth $33.5 million, Sinclair may be forced to file for Chapter 11 bankruptcy. The company seemingly recovered its financial fortunes enough, and began a major string of acquisitions involving television stations and other properties two years later.

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2011–2013

The beginning of the 2010s saw Sinclair's acquisition strategy intensify. In May 2011, Ring of Honor (ROH), a professional wrestling promotion, was purchased for an undisclosed amount. ROH's flagship program Ring of Honor Wrestling was added onto the schedules of many Sinclair-operated stations. In September 2011, Four Points Media Group was purchased for $200 million, equivalent to $286 million in 2025. Sinclair assumed managerial control of the stations from Nexstar Broadcasting Group. Four Points owner Cerberus Capital Management paid Nexstar cash compensation for the prematurely terminated time brokerage agreements. In November 2011, Sinclair purchased Freedom Communications' television stations for $385 million, equivalent to $551 million in 2025, making Sinclair the ninth-largest broadcast group in the United States.

At the same time, Sinclair purchased WWHO, a CW affiliate in the Columbus, Ohio, market, from LIN TV. Owing to Sinclair's existing Columbus duopoly of WSYX and WTTE, WWHO was resold to Manhan Media, who entered into a shared services agreement with Sinclair. In May 2012, a groupwide affiliation renewal with Fox reached, included an option for Sinclair to purchase WUTB, Baltimore's MyNetworkTV station, from Fox Television Stations before March 31, 2013. Sinclair purchased WUTB and resold it to Deerfield Media—controlled by Manhan Media owner Stephen P. Mumblow—on November 26, 2012, pairing with WBFF and WNUV. Concurrently, Fox had an option to purchase up to any combination of six different MyNetworkTV and CW stations in four different markets from Sinclair, which it declined.

On July 19, 2012, Sinclair acquired six stations from Newport Television, along with existing operational agreements for two other stations, for $412.5 million, equivalent to $578 million in 2025, as part of a larger dispersal of Newport's 22-station portfolio. That same day, Sinclair purchased Tampa station WTTA for $40 million, equivalent to $56.1 million in 2025. Two of Sinclair's existing stations in markets affected by the Newport deal, WSTR-TV and KMYS, were sold to Deerfield Media. Deerfield also acquired KBTV-TV, Beaumont, Texas's Fox affiliate, from Nexstar, with Sinclair assuming operations and merging it into CBS affiliate KFDM. The non-license assets of ABC affiliate WHAM-TV in Rochester, New York, were sold by Newport to Sinclair, with Deerfield purchasing the station's license.

In February 2013, Cox Media Group sold five television stations, their smallest by media market rankings, to Sinclair, with Deerfield Media assuming ownership of Cox-operated KAME-TV in Reno. Sinclair purchased Schaumburg, Illinois–based Barrington Broadcasting on February 28, 2013, including six other stations operated by Barrington. The former Cox and Barrington stations are operated through subsidiary Chesapeake Television, focusing on smaller markets and with management separate from Sinclair proper. Two Barrington stations, along with the lease for a third, were initially set to be transferred to Cunningham Broadcasting, but were ultimately sold to an affiliate of Northwest Broadcasting owner Brian Brady.

Prevailing in a bidding war with LIN Media, Sinclair purchased Fisher Communications in April 2013, for $373.3 million, equivalent to $516 million in 2025, including 20 television stations in the western United States, operational control of one station, and three radio stations in Seattle. This deal returned Sinclair to radio ownership, since the divestment of their radio portfolio between 1999 and 2000. The deal was initially met with financial scrutiny. The law firm Levi & Korsinsky notified Fisher shareholders with accusations that Fisher's board of directors were breaching fiduciary duties by "failing to adequately shop the Company before agreeing to enter into the transaction", and Sinclair was underpaying for Fisher's stock. Shortly after the announcement, a lawsuit was filed by a Fisher shareholder. The suit was settled in July 2013 and the merger approved shortly thereafter.

On June 3, 2013, Titan TV Broadcast Group sold four stations, along with operating agreements for two stations, to Sinclair. Prior to the deal, a seventh station, KDBC-TV in El Paso, Texas, to Cunningham, fueling speculation KDBC-TV would be consolidated with Sinclair-owned KFOX-TV. Sinclair exercised its option to purchase KDBC-TV outright citing KDBC-TV's fourth-place ranking in the El Paso market while KFOX ranked sixth, making it permissible under FCC duopoly regulations. Dielectric Communications, a key supplier of television broadcasting antennas, was purchased from SPX on June 18, 2013. SPX had intended to close down all of Dielectric's operations by the end of July, in turn threatening a FCC-proposed incentive auction and subsequent repacking of television broadcast spectrum.

In July 2013, as part of a refocus on the Politico website and newspaper, Allbritton Communications sold their seven station portfolio—including Washington, D.C.'s WJLA-TV—to Sinclair, for $985 million, equivalent to $1.36 billion in 2025. This deal was complicated by multiple regulatory hurdles and a proposed barring of future joint sales agreements (JSA) by the FCC. Originally planning to divest four Sinclair-owned stations in three markets with Allbritton stations to Deerfield and Armstrong Williams-controlled Howard Stirk Holdings, and continuing to operate them under JSAs,

In March 2014, Sinclair announced intentions to divest three stations and one existing LMA to independent third parties. Unable to find a buyer, Sinclair proposed in May 2014, to return to the FCC the licenses for WCFT-TV in Tuscaloosa, Alabama, WJSU-TV in Anniston, Alabama, and WCIV in Charleston, South Carolina, transferring the intellectual properties of those three stations to existing Sinclair-owned stations. One other Allbritton station, WHTM-TV in Harrisburg, Pennsylvania, was sold to Media General for $83.4 million (equivalent to $113 million in 2025). After nearly a year of delays, the deal was approved by the FCC in July 2014, and completed on August 1. WCIV, WCFT-TV and WJSU-TV were ultimately sold to Howard Stirk Holdings.

In September 2013, Sinclair purchased eight stations owned or operated by New Age Media. As part of the deal, three stations—WSWB in Scranton/Wilkes-Barre, Pennsylvania, WTLH in Tallahassee, Florida, and WNBW-DT in Gainesville, Florida—would be sold by owner MPS Media to Cunningham, with Deerfield purchasing WTLF in Tallahassee. New Age Media and MPS Media terminated the deal on October 31, 2014. Sinclair purchased the non-license assets for all eight stations and began operating them through master service agreements the next day.

2014–2016

Sinclair signed an agreement in June 2014 to carry the classic film subchannel network GetTV in 33 markets by the end of September. In July of that year, Sinclair announced the launch of the American Sports Network (ASN) service, operating within its Sinclair Networks company. This service, which produces and distributes college sports broadcasts, is primarily carried on Sinclair stations. ASN was created as part of the company's foray into original, non-news content creation beyond Ring of Honor Wrestling and school sports. Subsequently, on August 21, 2014, the company announced the formation of Sinclair Original Programming, a new division concentrating on entertainment and commercial content. The company also announced plans for a future cable news network. The Original Programming division chief operating officer was announced as Arthur Hasson, general manager of Sinclair stations in Harrisburg, Pennsylvania. On August 20, 2014, Sinclair announced that it would swap WTTA in Tampa and KXRM-TV and KXTU-LD in Colorado Springs to Media General in exchange for WJAR in Providence, Rhode Island, WLUK-TV and WCWF in Green Bay and WTGS in Savannah, Georgia. The deal was part of Media General's merger with LIN Media, the owner of WLUK and WCWF and operator of WTGS at that time, as both Media General and LIN owned stations in the three markets, requiring both companies to sell off stations in conflicting markets due to the FCC's recent decision to scrutinize sharing agreements between stations owned by different licensees. The swap was approved by the FCC alongside the Media General-LIN merger on December 12, 2014.

On September 3, 2014, Sinclair announced the purchase of Las Vegas NBC affiliate KSNV-DT from Intermountain West Communications Company for $120 million. As Sinclair already owns a duopoly in Las Vegas (KVMY and KVCW), the company will sell the license assets (though not the programming) of one of the three stations to comply with FCC ownership restrictions, with the divested station's programming being relocated to the other stations. The purchase of KSNV's non-license assets was completed on November 1, 2014. On September 11, 2014, the license assets of WCIV were sold to Howard Stirk Holdings (pending FCC approval) and aside from sharing studio space with WMMP (which will retain the ABC affiliation and current programming of WCIV), will have no operational control from Sinclair, saving the station from being forfeited back to the FCC. Similar sales were filed with the FCC for WBMA-LD satellite stations WCFT-TV on September 24 and WJSU-TV on September 28. Sinclair continued its push into original programming. Since May 2015, three deals were made to expand American Sports Network beyond college sports. In June, subsidiary Sinclair TV Group, Inc. formed Tornante-Sinclair LLC, a TV production company, with Michael Eisner's Tornante Co. With MGM on October 31, 2015, Comet was launched as a sci-fi broadcast subchannel network. On October 12, Sinclair Original Programming and the programming department was merged into Sinclair Programming and moved into Sinclair Television Group.

On October 1, 2015, Gray Television announced that it would acquire WLUC-TV from Sinclair; in return, Sinclair would receive WSBT-TV in South Bend, Indiana, from Gray. The swap, part of Gray's acquisition of the broadcasting assets of Schurz Communications (owner of WSBT), was necessary as Gray already owns WNDU-TV in South Bend. The sale was completed on February 16, 2016. On January 27, 2016, Sinclair Broadcast Group announced that it would acquire Tennis Channel for $350 million. The channel's corporation comes with $200 million in net operating losses that SBGI can use to offset future income thus reducing taxes. Sinclair's news operations had launched six drone teams in September 2016. Initial stations getting drone teams were in Washington, Baltimore, Green Bay, Wisconsin, Columbus, Ohio; Tulsa, Oklahoma and Little Rock, Arkansas. In the mid-2010s, Sinclair launched Refined, an online local lifestyle web magazine run in conjunction with local Sinclair stations. The third was announced for DC under WJLA-TV. In December 2016, SBG announced TBD, a new digital subchannel network aimed towards millennials, with a focus on digital content. It began broadcasting on February 13, 2017. At the NATPE conference on January 17, 2017, SBG and MGM announced a second TV network, Charge!, a new digital subchannel network focusing on action-adventure based programming. It begin broadcasting on February 28, 2017. Sinclair had two rounds of executive promotions announced in November 2016 and effective January 1, 2017, with chair and CEO David D. Smith moving up to executive chairman while CFO Christopher Ripley becoming president and CEO. In the second round, David Amy was promoted from chief operating officer to vice chairman with responsibility for corporate marketing, human resources and the networks group, while Steven Pruett move from co-COO of Sinclair Television Group to executive vice president and chief TV development officer.

2017–2022

On March 1, 2017, Sinclair bought Tennis Media Company for $8 million, which includes the Tennis.com website and Tennis magazine; the deal also includes up to $6 million in earnout if certain targets are reached. Sinclair intends to integrate the properties with Tennis Channel. On April 21, 2017, following the reinstatement of the "UHF discount" (a policy that counts television stations broadcasting on UHF channels by 50% of their total audience towards the FCC's 39% market cap), Sinclair announced its intent to purchase Bonten Media Group for $240 million. The sale was approved on June 30, and the sale was completed September 1. On May 8, 2017, Sinclair announced its intent to acquire the Chicago-based Tribune Media for $3.9 billion. The sale would have given Sinclair ownership of additional stations within the top-10 markets, along with ownership of a stake in Food Network, WGN America, and other additional assets, To comply with Department of Justice antitrust and FCC ownership regulations, it was suggested that Sinclair would have to divest stations in multiple markets.

2012 pre-election special

On November 5, 2012, six Sinclair stations in swing states aired a special focusing on issues surrounding the presidential election occurring the next day, such as the Libyan civil war and health care reform; the special consisted of a series of segments which were presented by the local anchors at each station. While scheduling of the special was at the discretion of each station, Columbus, Ohio ABC affiliate WSYX pre-empted both ABC World News and Nightline to air it. The special was met with controversy for showing a bias against Obama and focusing little on Republican candidate Mitt Romney, as opposed to showcasing both candidates equally. A Sinclair staff member disputed these claims, stating that "no one is disputing the facts of the stories that aired in the special", and that its decision on which markets to air the special was influenced by their "news value" and resonation with the public.

2018 journalistic responsibility promos

In March 2018, CNN chief media analyst Brian Stelter obtained an internal memorandum sent by Sinclair, which dictated that its stations must produce and broadcast an "anchor-delivered journalistic responsibility message" using a mandated script. The promos contain language decrying "biased and false news", and accusing unnamed mainstream media figures of bias. Stelter stated that the script is written to sound like the opinion of the local anchors, despite the text being in fact a mandate from corporate management. At least 66 Sinclair-owned stations produced their own version of the message, with the first being aired on March 23, 2018. Sinclair-owned WMSN-TV refused to air the message, although its news is produced by Morgan Murphy Media-owned WISC-TV.

The promos began to receive mainstream media attention after the sports blog Deadspin, as well as ThinkProgress, posted video compilations featuring all of the promos being played simultaneously. The promos have been criticized as in regard to the greater political context of "fake news" in the media for media bashing, comparing it to the rhetoric of Donald Trump in regard to these topics. Sinclair maintains that its "must-runs" are standard procedure, often covering a wide variety of issues such as news updates regarding terrorism and other public matters on which the company has an opinion while remaining "committed to reporting the facts". After the compilations went viral, Trump responded to the promos on April 2, 2018, defending the company as being "far superior to CNN and even more Fake NBC, which is a total joke".

The instructions for the mandated promos tell an/the anchor(s) to state:

I'm/We're extremely proud of the quality, balanced journalism that [proper news brand name of local station] produces. But I'm/We're concerned about the troubling trend of irresponsible, one-sided news stories plaguing our country. The sharing of biased and false news has become all too common on social media. More alarming, national media outlets are publishing these same fake stories without checking facts first. Unfortunately, some members of the national media are using their platforms to push their own personal bias and agenda to control 'exactly what people think.' This is extremely dangerous to our democracy... We understand Truth is neither politically 'left or right.' Our commitment to factual reporting is the foundation of our credibility, now more than ever.

On April 2, 2018, Sinclair Broadcast Group released a statement on their website in response to what it called "unfounded media criticism". The statement cited a Monmouth University poll that found large majorities of Americans believe that traditional news media outlets report fake news. Sinclair maintains that the promos "served no political agenda". Sinclair responded by posting a video on its website that attacked CNN for "dishonesty and hypocrisy" in their coverage of the Sinclair must-run promo; Sinclair equated Stelter's warnings about "fake news" as similar to Sinclair's warnings in its must-run promo.

Several outlets called for an advertiser boycott of Sinclair-owned stations. A report in Advertising Age magazine suggested that a boycott would not be easy, since it involves users first identifying the station as a Sinclair station, and then figuring out which advertisers are putting commercials on that station, and then discouraging those advertisers. Professional wrestler David Starr has criticized the company due to Ring of Honor holding an event in Israel where Starr was involved in a match against Jay Lethal and Matt Sydal on April 21, 2019, amid a fan boycott. The video was removed due to allegations of antisemitism.

From Wikipedia’s article on Sinclair Broadcast Group, shared under CC BY-SA 4.0.6

Leadership

Who has led Sinclair Broadcast Group, and when. Pick a name to see everywhere that person has worked.

Board members and other officers (34)

Products and brands

Must-run segments

Sinclair often mandates its stations to air specific reports, segments, programs and editorials, referred to as "must-runs". The company produces long-form programs airing weekends on its stations, including Armstrong Williams' weekly talk show The Right Side, and the political/investigative journalism series Full Measure with Sharyl Attkisson. The "must-run" practice has been criticized by news staff at some of Sinclair's stations due to the viewpoints they propagate. In 1996, after CEO David Smith was arrested in a prostitution sting, he ordered Sinclair's Baltimore station WBFF to produce reports on a local drug counseling program as part of his community service sentence. The order was criticized by WBFF reporter LuAnne Canipe.

Following the September 11 attacks, Sinclair ordered its stations to read editorials in support of President George W. Bush's response to the attack. The Baltimore Sun reported that WBFF staff internally objected to the editorial, as they felt that the endorsement would "undermine public faith in their political objectivity". The station, however, complied with the mandate.

Newsroom employees of KOMO-TV in Seattle told The New York Times they felt the national pieces were low quality, and were too politically skewed for the city's progressive audience. One employee admitted they had tried to reduce their prominence by deliberately scheduling them during lesser-viewed portions of newscasts, such as around commercial breaks, in an act of malicious compliance with Sinclair's must-run rules. However, in March 2018, KOMO aired a must-run segment during prime time about some Americans' belief in the existence of a deep state in the federal government, a concept Trump has blamed for undermining his presidency.

In April 2017, Sinclair announced it had hired Boris Epshteyn, who was briefly the White House assistant communications director for surrogate operations for the Trump administration, and a senior advisor of Donald Trump's presidential campaign, as chief political analyst. All Sinclair stations were required to air Ephsteyn's commentary, Bottom Line with Boris nine times per week.

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In July 2017, the HBO news satire program Last Week Tonight devoted a segment to discussing Sinclair's editorial practices, in which host John Oliver presented clips of various anchors from stations run by the company, using an identical script describing the FBI as having a "personal vendetta" against Michael Flynn, clips of Mark Hyman editorials, in which he compared multiculturalism and political correctness to a cancer epidemic, and stated that marriage was a solution to domestic abuse, and joked that the "Terrorism Alert Desk" segments defined terrorism as "anything a Muslim does". Oliver felt that it was inappropriate for local newscasts to advance political positions.

Oliver pointed out, as an example, the fact that Sinclair's Terrorism Alert Desk reported in 2016 that Islamic State militia in Iraq had killed nine youth by slashing them in half with chainsaws. Such news originated from an anonymous-sourced report published by Iraqi News, lacking any confirmation from independent outlets and was treated with extreme caution even by British tabloids such as the Daily Mail and the Daily Mirror and by far-right website Breitbart News, leading Oliver to ironically remark that he did not know it was possible to "dip beneath the journalistic standards of Breitbart".

The must-run segments usually only apply to those stations that have their own news department. For Sinclair stations where the newscast is operated by an external newsroom, the contracts generally forbid Sinclair from interfering with editorial control. On December 11, 2019, it was reported that Sinclair had dropped Epshteyn's commentary segments, with plans to encourage stations to prioritize local investigative journalism and coverage of the 2020 U.S. presidential election.

In June 2024, dozens of Sinclair local newscast anchors delivered an identical or nearly identical introduction to a recorded story by a Sinclair national correspondent. The story related to a recent Wall Street Journal article that called into question the mental acuity of Democratic president and reelection candidate Joe Biden. The Sinclair report did not mention that the Journal story had been criticized by prominent media critics for alleged lack of balance in its sourcing, including its heavy reliance on anonymous Republican sources.

Dish Network

Dish Network's retransmission agreement with Sinclair Broadcast Group was slated to expire on August 13, 2012. If an agreement had not reached by that time, 74 Sinclair stations would have been blacked out, including the affiliates of three of the major networks. A representative for Dish Network stated that Sinclair is "seeking a massive price increase that would force Dish to pay more to carry Sinclair's stations than it pays to any other broadcaster". A Sinclair representative, meanwhile, stated that it "believes significant doubt exists as to whether or not a new agreement will be reached with Dish". Dish Network subsequently set up its own website regarding the dispute. Dish and Sinclair came to an agreement on August 16, averting the removal of its any of the group's stations. On August 25, 2015, ten days after the 2012 retransmission agreement had expired, Dish customers lost access to 129 Sinclair stations, resulting in the largest local television blackout in history.

From Wikipedia’s article on Sinclair Broadcast Group, shared under CC BY-SA 4.0.6

Subsidiaries and ownership

Subsidiaries

Also owns

From Wikidata.1

Timeline

  1. Jan 4, 2017New chief executive Christopher Ripley becomes CEO19
  2. 1971Founded Founded in Baltimore1

Filings

377 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 57 major events, 179 insider forms, 34 large holders, 87 other. The latest 20:

  1. Oct 7, 20264/A PRIMARY DOCUMENT EDGAR
  2. Oct 2, 20264 PRIMARY DOCUMENT EDGAR
  3. Sep 25, 2026144 EDGAR
  4. Sep 25, 20264/A PRIMARY DOCUMENT EDGAR
  5. Sep 25, 20264 PRIMARY DOCUMENT EDGAR
  6. Sep 23, 20264 PRIMARY DOCUMENT EDGAR
  7. Aug 28, 20268-K EDGAR
  8. Aug 12, 20264 PRIMARY DOCUMENT EDGAR
  9. Aug 10, 2026144 EDGAR
  10. Aug 10, 2026144 EDGAR
  11. Aug 5, 202610-Q EDGAR
  12. Aug 5, 20268-K EDGAR
  13. Jul 6, 20264 PRIMARY DOCUMENT EDGAR
  14. Jun 26, 20264 PRIMARY DOCUMENT EDGAR
  15. Jun 25, 202611-K EDGAR
  16. Jun 25, 2026144 EDGAR
  17. Jun 10, 20264 PRIMARY DOCUMENT EDGAR
  18. Jun 8, 20264 PRIMARY DOCUMENT EDGAR
  19. Jun 8, 20264 PRIMARY DOCUMENT EDGAR
  20. Jun 8, 20264 PRIMARY DOCUMENT EDGAR

The 377 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last three years, summarized. The full record is on SEC EDGAR.

Insider trades and holders

Large holders

Investors who own more than 5% must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively. 34 such filings since October 2021, the latest 10:

  1. May 8, 2026SCHEDULE 13D/A
  2. Apr 27, 2026SCHEDULE 13G/A
  3. Apr 2, 2026SCHEDULE 13D/A
  4. Mar 27, 2026SCHEDULE 13G/A
  5. Aug 8, 2025SCHEDULE 13D/A
  6. Apr 16, 2025SCHEDULE 13D/A
  7. Apr 15, 2025SCHEDULE 13D/A
  8. Feb 13, 2024SC 13G
  9. Feb 12, 2024SC 13G/A
  10. Jan 26, 2024SC 13G

From Forms 4 and Schedules 13D and 13G filed with the SEC.

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
Gamco Investors, Inc. Et Al3,936,001$56.1M0.5%−51,343
BlackRock, Inc.3,479,693$49.6M0.0%+571,661
Vanguard Portfolio Management LLC1,919,631$27.4M0.0%+14,420
Dimensional Fund Advisors LP1,784,117$25.4M0.0%+161,323
Vanguard Capital Management LLC1,765,747$25.2M0.0%+74,315
Capital Management Corp /va1,408,982$20.1M3.0%+106,040
Madison Avenue Partners, LP1,383,470$19.7M0.8%−90,014
Charles Schwab Investment Management Inc1,251,051$17.8M0.0%−409,877
Geode Capital Management, LLC1,111,461$15.8M0.0%+130,069
Goldman Sachs Group Inc1,085,624$15.5M0.0%+301,053
Gabelli Funds LLC1,081,700$15.4M0.1%−41,500
State Street Corp1,007,139$14.4M0.0%+84,839
Empyrean Capital Partners, LP944,493$13.5M0.5%−100,000
Converium Capital Inc.770,615$11.0M10.2%−291,837
Pinnacle Associates Ltd741,433$10.6M0.1%−884
Schonfeld Strategic Advisors LLC700,000$10.0M0.1%−54,875
Foursixthree Capital LP578,451$8.2M2.2%New
Bank of New York Mellon Corp437,753$6.2M0.0%+23,353
Northern Trust Corp393,830$5.6M0.0%+39,501
Allianz Asset Management GmbH327,655$4.6M0.0%+44,958
Aqr Capital Management LLC322,661$4.6M0.0%+218,277
Morgan Stanley313,646$4.5M0.0%+172,584
Vanguard Fiduciary Trust Co275,762$3.9M0.0%+16,202
Advisors Asset Management, Inc.224,549$3.2M0.0%+6,319
ExodusPoint Capital Management, LP220,783$3.1M0.0%−134,317

13F reports cover disclosed long positions in U.S. stocks only.

Members of Congress who traded it

1 trades disclosed by members of Congress. “Vs S&P since” is the stock’s change since the trade minus the S&P 500’s.

DateMemberTradeAmountVs S&P sinceFiling
Jul 12, 2023Daniel S. GoldmanDemocratic, HouseSale$1,001 - $15,000+79.3%Report

Members report amounts as ranges, not exact figures. Returns are price-only (no dividends).

Sources

The numbers on this page point here. Each one links to the record it came from.

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