secwatch.observer — SEC 8-K summary
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Issuer:     Sinclair, Inc. (SBGI)
CIK:        0001971213
Form:       8-K
Filed at:   2025-11-05T23:59:59+00:00
Accession:  0001971213-25-000070
Event type: earnings
Sentiment:  negative
Materiality: 0.85
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Sinclair Q3 2025 revenue $773M (-16% YoY), net loss $1M vs net income $94M; core ad revenue up $20M
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- Net loss of $1M vs net income of $94M in Q3 2024; Adjusted EBITDA $100M vs $249M YoY (-60%).
- Total revenue $773M (-16% YoY); media revenue $765M; advertising revenue $321M (down 26% on political comparison).
- Core advertising revenue grew $20M YoY to $315M; political revenue fell to $6M from $138M in 2024.
- Redeemed $89M of STG 5.125% Senior Unsecured Notes due 2027 on Oct 6; total debt $4.1B, liquidity $1.2B.
- Q4 2025 guidance: revenue $815-851M, Adjusted EBITDA $132-154M; prelim 2026 sees record mid-term political.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1971213/000197121325000070/0001971213-25-000070-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/912752/000197121325000070/sbgi-20251105.htm
  HTML page:      https://secwatch.observer/filing/0001971213-25-000070

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer