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News Release SINCLAIR REPORTS FIRST QUARTER 2021 FINANCIAL RESULTS BALTIMORE ( May 5 , 2021 ) - Sinclair Broadcast Group , Inc. ( Nasdaq : SBGI ) , the " Company " or " Sinclair , " today reported financial results for the three months ended March 31 , 2021 . First Quarter Highlights • • • Consolidated total revenue decreased 6 % to $ 1,511 million as compared to the first quarter of 2020 . Consolidated operating income of $ 35 million , including $ 32 million of non - recurring costs for transaction and transition services , COVID , legal , and regulatory costs ( " Adjustments " ) decreased compared to operating income in the first quarter of 2020 of $ 327 million , which included $ 20 million of Adjustments . Excluding the Adjustments , operating income of $ 67 million decreased $ 280 million compared to the first quarter of 2020 . Net loss attributable to the Company was $ 12 million versus net income of $ 123 million in the prior year period . Excluding the Adjustments , the Company had net income of $ 13 million . Consolidated Adjusted EBITDA , which excludes the Adjustments , of $ 182 million , decreased 35 % versus the first quarter of 2020 . CEO Comment : " Results for the quarter were much better than expected and reflect a strong recovery in the core advertising market , cost controls and timing of games played , " said Chris Ripley , Sinclair's President & Chief Executive Officer . " We are optimistic that the rebound in advertising spending bodes well for the rest of the year , where we are lapping easy comparisons to the prior year , which was significantly impacted by the pandemic . " Ripley continued , " At the end of the quarter , Sinclair entered a new era of sports viewing with the rebranding of our RSNs with the Bally Sports name . The roll - out went off without a hitch , thanks to the tireless efforts of our entire sports marketing team . The feedback has been very positive across all stakeholders , as the rebrand was a significant upgrade to the product's graphics , and we are energized to be bringing local sports viewers the very best experience to root for their favorite hometown sports teams . With the recent launch of our new Bally Sports App , the stage is set to elevate sports viewing to a whole new level , allowing a more interactive and personalized experience . " Ripley concluded , " We continue to focus on initiatives to create a more dynamic viewing experience across all our platforms , creating live interactive programming , building our gamification offerings , deploying NEXTGEN TV , and developing our direct to consumer platforms , to improve the consumer experience and engagement . " Recent Company Developments : Content and Distribution : • In March , the Company rebranded its acquired regional sports networks ( RSNs ) under the Bally Sports name , ushering in a new era in the way people watch and interact with live sports .