Sinclair, Inc. SEC 10-Q Report
Sinclair, Inc., a prominent player in the media and entertainment industry, has released its Form 10-Q report for the second quarter of 2025. The report provides a comprehensive overview of the company's financial performance and operational activities for the three months ended June 30, 2025. This summary highlights key financial metrics and significant business developments that have shaped Sinclair's recent performance.
Financial Highlights
Total Revenues: Sinclair reported total revenues of $784 million for the three months ended June 30, 2025, reflecting a decrease from $829 million in the same period in 2024. This decline was primarily due to lower media revenues.
Operating Income: The company's operating income stood at $21 million for the three months ended June 30, 2025, down from $64 million in the same period in 2024. The decrease indicates increased operating expenses.
Net (Loss) Income: Sinclair recorded a net loss of $(62) million for the three months ended June 30, 2025, compared to a net income of $19 million in the same period in 2024. This loss was driven by higher interest expenses and losses from equity method investments.
Net (Loss) Income Attributable to Sinclair: The net loss attributable to Sinclair was $(64) million for the three months ended June 30, 2025, compared to $17 million in the same period in 2024.
Basic Earnings Per Share: Basic earnings per share were $(0.91) for the three months ended June 30, 2025, compared to $0.27 in the same period in 2024, reflecting the net loss incurred.
Diluted Earnings Per Share: Diluted earnings per share were $(0.91) for the three months ended June 30, 2025, consistent with the basic earnings per share, compared to $0.27 in the same period in 2024.
Business Highlights
Revenue Segments: Sinclair operates through two primary segments: Local Media and Tennis. The Local Media segment includes 185 broadcast television stations across 85 markets, providing programming and operating services. The Tennis segment encompasses the Tennis Channel, which offers coverage of top tennis tournaments and original sports programming.
Geographical Performance: The Local Media segment operates 185 stations in 85 markets across the continental United States, broadcasting 646 channels. This extensive reach highlights Sinclair's significant presence in the U.S. media landscape.
New Product Launches: Sinclair's Tennis segment has expanded its offerings with the Tennis Channel International streaming service and TennisChannel 2, a 24-hour free ad-supported streaming television channel, enhancing its digital and streaming capabilities.
Business Combinations: In March 2025, Sinclair Ventures, LLC completed the acquisition of CPX Interactive LLC (Digital Remedy), acquiring the remaining 75% of the business for approximately $30 million. This acquisition is expected to enhance Sinclair's digital media capabilities.
Station Disposals: Sinclair entered into an asset purchase agreement to sell stations in Milwaukee, WI; Springfield, IL; Ottumwa, IA; and Quincy, IL for approximately $30 million. The sale was completed on July 8, 2025, as part of Sinclair's strategic realignment.
Future Outlook: Sinclair continues to focus on expanding its digital media presence and enhancing its content offerings through strategic acquisitions and partnerships. The company is also evaluating the impact of recent tax reforms and regulatory changes on its operations.
SEC Filing: Sinclair, Inc. [ SBGI ] - 10-Q - Aug. 08, 2025