Copyright Variety
Sinclair, one of the U.S.’s biggest TV station groups, saw a significant drop in revenue and swung to a net loss for the third quarter of 2025. For Q3, the company reported revenue of $773 million, down 16%, and a net loss of $1 million (or 2 cents per share) compared with net income of $94 million in the year-earlier period. Sinclair’s earnings announcement comes after its 38 ABC affiliates had briefly preempted “Jimmy Kimmel Live!” in September over the TV host’s comments about Charlie Kirk’s killer. It’s not clear the extent to which the Kimmel boycott affected Sinclair’s financial results for the quarter; the company did not provide discussion of the blackout in its earnings press release. “Sinclair delivered a strong third quarter, achieving the high end of guidance for advertising and distribution revenue, while media expenses and Adjusted EBITDA beat expectations,” president and CEO Chris Ripley said in prepared remarks. “We expect to see continued improvement in core advertising trends in the fourth quarter and a sequential increase in distribution revenue.” Baltimore-based Sinclair owns, operates and/or provides services to 185 TV stations in 85 markets affiliated with each of the major broadcast networks. It also owns Tennis Channel and multicast networks Comet, Charge!, TBD and The Nest. Sinclair, known for its conservative political leanings, on Sept. 17 said it was pulling “Jimmy Kimmel Live!” from its ABC stations over what Kimmel said on his show two days earlier: “We hit some new lows over the weekend with the MAGA gang desperately trying to characterize the kid who murdered Charlie Kirk as anything other than one of them, and doing everything they can to score political points from it.” MAGA supporters were outraged, interpreting that as Kimmel saying Kirk’s assassin was “one of them.” FCC chairman Brendan Carr weighed in on the situation; speaking earlier on Sept. 17 on a conservative podcast, he strongly implied ABC affiliates would be targeted by the agency and their spectrum licenses revoked if they didn’t “take action” on Kimmel (i.e., pull the show off the air). Following Carr’s threat and the pressure from Sinclair and Nexstar Media — which also announced it would preempt Kimmel — ABC said it was suspending “Jimmy Kimmel Live!” indefinitely. In August, Sinclair had announced a “comprehensive strategic review” for its broadcast business, including potential sales and acquisitions. Any deal Sinclair engages in that would involve the transfer of broadcast licenses would be subject to FCC review and approval. As of Nov. 1, Sinclair had closed on 11 partner station acquisitions with “additional deals pending FCC approval, and more transactions planned,” according to Ripley. The acquisitions represent at least $30 million in incremental annualized EBITDA once finalized, he added. In 2026, “we anticipate record midterm political revenue in the upcoming cycle, and are encouraged by recent regulatory developments that should lead to much-needed industry consolidation and significant synergies for investors,” Ripley said. Sinclair claimed its decision to preempt Kimmel’s show “was independent of any government interaction or influence” (as did Nexstar). In its Sept. 17 statement, Sinclair said, “We appreciate FCC Chairman Carr’s remarks today and this incident highlights the critical need for the FCC to take immediate regulatory action to address control held over local broadcasters by the big national networks.” Sinclair had said that before it would consider returning “Kimmel” to its ABC affiliates, the TV host must apologize to Kirk’s family and send “a meaningful personal donation” to them as well as Turning Point USA, the organization Kirk founded. (The company planned to run a Charlie Kirk tribute on its ABC affiliates on Sept. 19 but instead aired a rerun of “Celebrity Family Feud.”) Kimmel has not specifically apologized to the Kirk family or offered a donation to Turning Point USA. Following ABC’s decision to resume “Jimmy Kimmel Live!” on Sept. 23, Sinclair said its ABC stations would resume airing “Jimmy Kimmel Live!” as of Sept. 26 after “ongoing and constructive discussions with ABC” about various measures, including the possible appointment of a network-wide independent ombudsman. Sinclair also defended its move to preempt Kimmel, saying “it is simply inconsistent to champion free speech while demanding that broadcasters air specific content.” Erika Kirk, the widow of Charlie Kirk, said in an interview this week with Fox News’ Jesse Watters that Sinclair execs had reached out to her to ask if she wanted Sinclair to try to elicit an apology from Kimmel or if she wanted to appear on “a show.” According to Erika Kirk, she declined Sinclair’s offers.
