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Consolidated total revenue increased 37% to $1,539 million as compared to the third quarter of 2019, with gains driven in large part by the Company's acquisition of 21 Regional Sports Networks (RSNs) and Fox College Sports in August 2019, as well as higher political advertising revenue. Included in the quarter is a $128 million accrual for rebates to distributors based on minimum game guarantees.
Consolidated operating loss of $4,178 million included a $4,226 million impairment taken on the Local Sports segment relating to goodwill and definite-lived intangible assets, and $13 million of non-recurring costs for transaction, COVID, legal, litigation, and regulatory costs ("Adjustments"). Excluding the Adjustments, operating income of $61 million decreased $147 million compared to the third quarter of 2019.
Net loss attributable to the Company was $3,210 million versus net loss of $60 million in the prior year period. Excluding the Adjustments, the Company had net income of $161 million.
Consolidated Adjusted EBITDA, which excludes the Adjustments, of $736 million increased 97% versus the third quarter of 2019.
In September, the Company invested in Playfly Sports, a leading company in the management of exclusive college and high school sports and esport multi-media rights across the U.S.
The following information was filed by Sinclair Broadcast Group Inc (SBGI) on Wednesday, November 4, 2020 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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