Exhibit 99.1
News Release

Contact: Chris Ripley, President & Chief Executive Officer
Lucy Rutishauser, SVP Chief Financial Officer        
(410) 568-1500
        
SINCLAIR REPORTS FIRST QUARTER 2017 FINANCIAL RESULTS

REPORTS $0.61 DILUTED EARNINGS PER SHARE
DECLARES $0.18 QUARTERLY DIVIDEND PER SHARE

BALTIMORE (May 3, 2017) - Sinclair Broadcast Group, Inc. (Nasdaq: SBGI), the “Company” or “Sinclair,” today reported financial results for the three months ended March 31, 2017.

“2017 is shaping up to be a pivotal year with the FCC’s recent reinstatement of the UHF discount, expected approval of ATSC 3.0 (Next Generation Broadcast Platform), and much needed modernization of antiquated broadcast regulations. Positive movements by the FCC on these fronts will allow us, among other things, to better serve our local communities through increased investment in local news and other quality local programming,” commented David Smith, Executive Chairman. “In anticipation of ATSC 3.0’s approval, we have been laying the groundwork for development of a nationwide network, design of 3.0 chipsets, and will be testing single frequency network technology and advanced business models later this summer. The Next Gen technology will transform how we interact with consumers and allow us to implement value-enhancing business models as the convergence and emergence of alternative platforms and companies proliferate.”

Three Months Ended March 31, 2017 Financial Results:

Total revenues increased 12.3% to $649.9 million, versus $578.9 million in the prior year period.
Operating income was $157.6 million, including a gain of $53.0 million on the sale of Alarm Funding Associates (Alarm), an increase of 82.6%, versus operating income of $86.3 million in the prior year period.
Net income attributable to the Company was $57.2 million, versus net income of $24.1 million in the prior year period. Excluding the gain on the sale of Alarm, net income attributable to the Company would have been $30.0 million.
Diluted earnings per common share were $0.61, $0.32 excluding the gain on the sale of Alarm, as compared to $0.25 in the prior year period.

Three Months Ended March 31, 2017 Operating Highlights:

Media revenues, before barter, increased 13.4% to $602.5 million versus $531.3 million in the first quarter of 2016.

Political revenues were $2.1 million versus $24.4 million in the first quarter of 2016.

Revenues from our digital offerings increased 25% in the first quarter as compared to the first quarter of 2016.




The following information was filed by Sinclair Broadcast Group Inc (SBGI) on Wednesday, May 3, 2017 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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