Sinclair Inc. reported total revenue of $773 million for the third quarter of 2025, down 16% from the prior year and down 1% from the previous quarter. Media revenue was $765 million, a 16% decrease year-over-year and a 2% decrease quarter-over-quarter. Advertising revenue totaled $321 million, down 26% from last year and flat sequentially. Distribution revenue was $422 million, down 3% from both the previous year and quarter. The company reported a net loss attributable to the company of $1 million, compared to net income of $94 million in the prior year and a net loss of $64 million in the previous quarter. Adjusted EBITDA was $100 million, down 60% year-over-year and 3% quarter-over-quarter. During the period, Sinclair closed on 11 partner station acquisitions, with additional transactions pending FCC approval. The company redeemed $89 million of Sinclair Television Group 5.125% Senior Unsecured Notes due 2027 in October. Sinclair's Tennis Channel signed multi-year extensions for Davis Cup and Billie Jean King Cup coverage. Year-to-date, Sinclair's newsrooms have won 227 journalism awards, including 25 regional Edward R. Murrow Awards.