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News Release SINCLAIR REPORTS SECOND QUARTER 2021 FINANCIAL RESULTS BALTIMORE ( August 4 , 2021 ) - Sinclair Broadcast Group , Inc. ( Nasdaq : SBGI ) , the " Company " or " Sinclair , " today reported financial results for the three and six months ended June 30 , 2021 . Second Quarter Highlights • . • Consolidated total revenue increased 26 % to $ 1,612 million as compared to the second quarter of 2020 . Consolidated operating loss of $ 178 million , including $ 35 million of non - recurring costs for transaction and transition services , COVID , legal , and regulatory costs ( " Adjustments " ) decreased compared to operating income in the second quarter of 2020 of $ 492 million , which included $ 9 million of Adjustments . Excluding the Adjustments , operating loss of $ 143 million decreased $ 644 million compared to the second quarter of 2020 , in which no live sporting events were produced or played due to COVID - 19 . Net loss attributable to the Company was $ 332 million versus net income of $ 252 million in the prior year period . Excluding the Adjustments , the Company had a net loss of $ 303 million . Consolidated Adjusted EBITDA , which excludes the Adjustments , of $ 433 million , increased 70 % versus the second quarter of 2020 . CEO Comment : " Results for the quarter were solid , as we outperformed our expectations amid the continued recovery in the core advertising market , as well as timing of expenses and our ongoing cost control efforts , " said Chris Ripley , Sinclair's President & Chief Executive Officer . " As we progress through the year , we have been making great strides in a number of areas , including planning our direct - to - consumer local sports service expected to launch next year , the debut of gamification elements in conjunction with Bally Sports in some of our sports programming , and the evolution of our digital agency Compulse into an omni - channel marketing technology platform for local agencies and media companies . All of these areas , along with our achievements with ATSC 3.0 and our upcoming expansion of The National Desk , our news show for a national audience with a local perspective , are expected to be important components of our company's strategy in the years ahead . " Ripley continued , " We believe the full value of Sinclair is not reflected in the Company's current stock price . There are numerous assets , apart from our broadcasting and regional sports networks businesses , that we believe have appreciable value . These include our warrants and options in Bally's Corp. , our licensed broadcast spectrum , the remaining tax benefit that came as a result of our RSN purchase in 2019 , and our investments in non - core businesses and equity stakes , that we believe have a market value well in excess of book value . Together , we believe these assets alone are worth more per share than where the Company's stock is currently trading . " Ripley concluded , " Moving forward , we remain confident that our multi - pronged approach to growing our business through emphasizing multi - channel content , marketing services , data distribution , and gamification and community , along with our valuable and diversified asset base , will continue to move us toward our goal of becoming a top next generation media company . ”