Sinclair, Inc. (SBGI) Presents at Deutsche Bank 34th Annual Media, Internet & Telecom Conference Transcript

Core Insights - Sinclair delivered earnings in 2025 that met or exceeded guidance ranges, indicating strong operational performance [1] - The company experienced strong momentum in core advertising, with distribution stabilizing and traditional MVPD churn moderating, remaining flat year-over-year [1] - Sinclair is approximately 70% through its JSA/LMA buy-ins, expecting to complete this by Q2, with anticipated annualized synergy benefits of about $30 million realized in the latter half of the year [1] - The company ended 2025 with $866 million in cash and $1.5 billion in liquidity, with no material debt maturity until the end of 2029 [1] 2026 Outlook - Sinclair views 2026 as a catalyst year, with a calendar heavy in broadcast, sports, and political events, aiming to leverage these opportunities [2]