Sinclair, one of the largest television station groups in the U.S., suffered a sharp decline in revenue, posting a net loss in the third quarter of 2025.
For the third quarter, the company reported a 16% decline in revenue to $773 million and a net loss of $1 million, or 2 cents per share, compared to net income of $94 million in the year-ago period.
Sinclair President and CEO Chris Ripley said in an earnings call that Sinclair’s ABC stations are currently affected by a dispute between Disney and YouTube TV, which has resulted in the suspension of YouTube TV broadcasts on networks such as ABC and ESPN since last Friday.シンクレアには 38 の ABC 系列会社があります。 He denounced the situation, calling both Google and Disney “media giants” and said local broadcasters were “caught in the middle” of such disputes, which he labeled an “antitrust issue.”
Ripley said the company is lobbying for changes that would give local TV station owners more control over these pay-TV distribution deals. “As a local station, we have no say in whether our content, and the content we pay to air, will be delivered to local audiences,” Ripley said, adding that Sinclair and others are consulting with the FCC and antitrust regulators on the issue. 「私たちはこの慣行を阻止する必要があると信じています。」
Ripley said the Disney and YouTube television broadcast blackouts and others “continue to hurt local audiences and local journalism.”
Sinclair’s earnings report came after the company’s ABC affiliate briefly preempted “Jimmy Kimmel Live!” 9月にはチャーリー・カーク殺害犯に関するテレビ司会者のコメントをめぐって訴訟が起きた。キンメルのボイコットがシンクレアの同四半期決算にどの程度影響を与えたかは明らかではない。 The company did not mention the blackout in its earnings press release, and the topic did not come up on a conference call with analysts.
Sinclair’s third-quarter advertising revenue was particularly hard hit, falling 26% year over year to $321 million. This was due to a significant drop in political ad sales ($6 million) compared to a record $138 million in Q3 2024 during last year’s presidential campaign.同四半期のメディア部門の収益は16%減の7億6,500万ドルでした。 This segment primarily consists of broadcast television stations and includes multicast networks and original content.
“Sinclair delivered a strong third quarter, with advertising and distribution revenues at the high end of guidance, while media expenses and adjusted EBITDA exceeded expectations,” Ripley said in prepared comments. “We expect core advertising trends to continue to improve in the fourth quarter and distribution revenue to continue to grow.”
Sinclair, based in Baltimore, owns, operates and/or services 185 television stations in 85 markets, partnering with each major broadcast network. It also owns the Tennis Channel and the multicast networks Comet, Charge!, TBD, and The Nest.
Sinclair, known for its conservative political leanings, announced on September 17 that it would be discontinuing “Jimmy Kimmel Live!” ABC reported on what Kimmel said on his show two days ago: “MAGA gangs desperately trying to characterize the boy who killed Charlie Kirk as something other than one of them, and doing everything they can to score political points from it, hit a record low over the weekend.” MAGA支持者らはこれをキンメルがカーク暗殺者は「彼らの一人」だと発言したと解釈し激怒した。 FCC委員長のブレンダン・カー氏は状況について意見を述べた。 On a Sept. 17 conservative podcast, he strongly suggested that if Kimmel “does not take action” (i.e., take his show off the air), ABC affiliates will be targeted by the network and their spectrum licenses will be revoked. Following Mr. Carr’s threats and pressure from Sinclair and Nexstar Media (which announced it would preempt Mr. Kimmel), ABC announced it would take “Jimmy Kimmel Live!” off the air. indefinitely.
シンクレアは8月に、売却や買収の可能性を含む放送事業の「包括的な戦略的見直し」を発表していた。シンクレアが行う放送ライセンスの譲渡を伴う取引は、FCCの審査と承認の対象となる。 Ripley said on the earnings call that Sinclair expects the FCC to raise or eliminate the 39% national ownership cap on television station ownership in the first half of 2026. He also noted that an FCC rule that prohibited station groups from owning more than one of the top four TV stations in a given market was repealed this summer.
Ripley said Sinclair had completed acquisitions of 11 partner stations as of Nov. 1, and “additional transactions are pending FCC approval and more are planned.”同氏は、買収が完了すると、年間EBITDAの増分は少なくとも3,000万ドルに相当すると付け加えた。 In 2026, “we expect record medium-term political revenues in the next cycle, driven by recent regulatory developments that should lead to much-needed industry consolidation and significant synergies for investors,” Ripley said.
Sinclair claimed (as did Nexstar) that the decision to preempt Kimmel’s show was “independent of any government interference or influence.” “I appreciate FCC Chairman Kerr’s remarks today, and this case highlights the critical need for the FCC to take immediate regulatory action to address the dominance of local broadcast stations by major national networks,” Sinclair said in a statement on Sept. 17.
Sinclair previously said that before considering returning “Kimmel” to the ABC affiliate, the TV host needed to apologize to Kirk’s family and send a “meaningful private donation” to the family and Turning Point USA, the organization he founded. (Sinclair was scheduled to air a Charlie Kirk tribute on the ABC affiliate on September 19, but aired reruns of “Celebrity Family Feud” instead.)
キンメル氏はカーク家に特に謝罪したり、ターニング・ポイントUSAへの寄付を申し出たりはしていない。 ABCが「ジミー・キンメル・ライブ！」を再開する決定を受けて。シンクレアは9月23日、ABC局が「ジミー・キンメル・ライブ！」の放送を再開すると発表した。 As of September 26, following “ongoing and constructive consultation with the ABC” on a range of measures including the possible appointment of an independent ombudsman for the entire network. Sinclair also defended Kimmel’s preemptive move, saying, “It is completely contradictory to defend free speech while requiring broadcasters to air certain content.”
Erica Kirk, Charlie Kirk’s widow, said in an interview with Fox News’ Jesse Watters this week that Sinclair executives contacted her and asked if Sinclair wanted to extract an apology from Kimmel or if she wanted to appear on “the show.” According to Erica Kirk, she turned down Sinclair’s offer.
“I never meant to make light of the murder of a young man. I don’t think there’s anything strange about it,” Kimmel said in an emotional monologue on his first night back on the air after ABC went off the air. She added: “The day he was killed, I posted a message on Instagram sending my love to his family and asking for sympathy. I meant it, and I still do.”
