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Sinclair Group’s $375 Million Political Ad Wave: Can It Power The Next Leg Of Growth?

Sinclair Broadcast Group reported second quarter 2026 results marked by a 7% year-over-year increase in total revenue to $840 million and a significant 45% rise in adjusted EBITDA to $149 million. The revenue growth was primarily driven by an advantageous mix emphasizing political advertising and distribution revenues, accompanied by disciplined expense management. Political advertising revenue reached $59 million, up 9% from the prior year’s strong midterm cycle, supported by early campaign spending across competitive Senate, gubernatorial, and House races that underpin an upward revision of full-year political ad revenue guidance to at least $375 million. Distribution revenue continued its moderate growth trajectory (up 2%), buoyed by partner station buy-ins and moderating subscriber churn; however, core advertising revenue declined 3%, adversely affected by political inventory crowd-out in key markets and advertiser caution amid cost pressures.