UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
 
____________________________________
SCHEDULE 13G
 
Under the Securities Exchange Act of 1934
(Amendment No.     )*
 
____________________________________
 
 
Sinclair Broadcast Group, Inc.
(Name of Issuer)
 
Class A Common Stock, $0.01 Par Value
(Title of Class of Securities)
 
829226109
(CUSIP Number)
 
January 10, 2018
(Date of Event Which Requires Filing of this Statement)
____________________________________
 
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
 
☐ Rule 13d-1(b)
 
☒ Rule 13d-1(c)
 
☐ Rule 13d-1(d)
 
*
The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page.
 
The information required in the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).
  


CUSIP No. 829226109
 
 
 
 
 
 
 
 
 
  1. 
 
NAMES OF REPORTING PERSONS
 
Three Bays Capital LP
  2.
 
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
(a)  ☐        (b)  ☒
 
  3.
 
SEC USE ONLY
 
  4.
 
CITIZENSHIP OR PLACE OF ORGANIZATION
 
Delaware
NUMBER OF
SHARES
BENEFICIALLY 
OWNED BY
EACH
REPORTING
PERSON
WITH
  
5. 
  
SOLE VOTING POWER
 
4,117,518
  
6.
  
SHARED VOTING POWER
 
—0—
  
7.
  
SOLE DISPOSITIVE POWER
 
4,117,518
  
8.
  
SHARED DISPOSITIVE POWER
 
—0—
  9.
 
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 
4,117,518
10.
 
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)    
 
11.
 
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
 
5.4%*
12.
 
TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
 
PN, IA
 
*
Based on 76,071,145 shares of Class A Common Stock of Sinclair Broadcast Group, Inc. (the “Issuer”) outstanding as of November 6, 2017, as disclosed in the Issuer’s Form 10-Q filed with the Securities and Exchange Commission (the “SEC”) on November 8, 2017.
 


CUSIP No. 829226109
 
 
 
 
 
 
 
 
 
  1. 
 
NAMES OF REPORTING PERSONS
 
TBC GP LLC
  2.
 
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
(a)  ☐        (b)  ☒
 
  3.
 
SEC USE ONLY
 
  4.
 
CITIZENSHIP OR PLACE OF ORGANIZATION
 
Delaware
NUMBER OF
SHARES
BENEFICIALLY 
OWNED BY
EACH
REPORTING
PERSON
WITH
  
5. 
  
SOLE VOTING POWER
 
4,117,518
  
6.
  
SHARED VOTING POWER
 
—0—
  
7.
  
SOLE DISPOSITIVE POWER
 
4,117,518
  
8.
  
SHARED DISPOSITIVE POWER
 
—0—
  9.
 
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 
4,117,518
10.
 
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)    
 
11.
 
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
 
5.4%*
12.
 
TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
 
OO
 
*
Based on 76,071,145 shares of Class A Common Stock of the Issuer outstanding as of November 6, 2017, as disclosed in the Issuer’s Form 10-Q filed with the SEC on November 8, 2017.
 


CUSIP No. 829226109
 
 
 
 
 
 
 
 
 
  1. 
 
NAMES OF REPORTING PERSONS
 
TBC Master LP
  2.
 
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
(a)  ☐        (b)  ☒
 
  3.
 
SEC USE ONLY
 
  4.
 
CITIZENSHIP OR PLACE OF ORGANIZATION
 
Cayman Islands
NUMBER OF
SHARES
BENEFICIALLY 
OWNED BY
EACH
REPORTING
PERSON
WITH
  
5. 
  
SOLE VOTING POWER
 
4,117,518
  
6.
  
SHARED VOTING POWER
 
—0—
  
7.
  
SOLE DISPOSITIVE POWER
 
4,117,518
  
8.
  
SHARED DISPOSITIVE POWER
 
—0—
  9.
 
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 
4,117,518
10.
 
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)    
 
11.
 
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
 
5.4%*
12.
 
TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
 
PN
 
*
Based on 76,071,145 shares of Class A Common Stock of the Issuer outstanding as of November 6, 2017, as disclosed in the Issuer’s Form 10-Q filed with the SEC on November 8, 2017.
 


CUSIP No. 829226109
 
 
 
 
 
 
 
 
 
  1. 
 
NAMES OF REPORTING PERSONS
 
TBC Partners GP LLC
  2.
 
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
(a)  ☐        (b)  ☒
 
  3.
 
SEC USE ONLY
 
  4.
 
CITIZENSHIP OR PLACE OF ORGANIZATION
 
Delaware
NUMBER OF
SHARES
BENEFICIALLY 
OWNED BY
EACH
REPORTING
PERSON
WITH
  
5. 
  
SOLE VOTING POWER
 
4,117,518
  
6.
  
SHARED VOTING POWER
 
—0—
  
7.
  
SOLE DISPOSITIVE POWER
 
4,117,518
  
8.
  
SHARED DISPOSITIVE POWER
 
—0—
  9.
 
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 
4,117,518
10.
 
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)    
 
11.
 
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
 
5.4%*
12.
 
TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
 
OO
 
*
Based on 76,071,145 shares of Class A Common Stock of the Issuer outstanding as of November 6, 2017, as disclosed in the Issuer’s Form 10-Q filed with the SEC on November 8, 2017.
 
 


CUSIP No. 829226109
 
 
 
 
 
 
 
 
 
  1. 
 
NAMES OF REPORTING PERSONS
 
Matthew Sidman
  2.
 
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
(a)  ☐        (b)  ☒
 
  3.
 
SEC USE ONLY
 
  4.
 
CITIZENSHIP OR PLACE OF ORGANIZATION
 
United States
NUMBER OF
SHARES
BENEFICIALLY 
OWNED BY
EACH
REPORTING
PERSON
WITH
  
5. 
  
SOLE VOTING POWER
 
4,117,518
  
6.
  
SHARED VOTING POWER
 
—0—
  
7.
  
SOLE DISPOSITIVE POWER
 
4,117,518
  
8.
  
SHARED DISPOSITIVE POWER
 
—0—
  9.
 
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 
4,117,518
10.
 
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)    
 
11.
 
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
 
5.4%*
12.
 
TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
 
IN
 
*
Based on 76,071,145 shares of Class A Common Stock of the Issuer outstanding as of November 6, 2017, as disclosed in the Issuer’s Form 10-Q filed with the SEC on November 8, 2017.
 
 


Item 1 (a).
Name of Issuer:
 
Sinclair Broadcast Group, Inc. (the “Issuer”)
 
Item 1 (b).
Address of Issuer’s Principal Executive Offices:
 
10706 Beaver Dam Road
Hunt Valley, Maryland 21030
 
Item 2 (a).
Name of Person Filing:
 
This statement is being filed by the following persons with respect to the shares of Class A Common Stock of the Issuer directly owned by TBC Master LP (“TBC Master”):
 
 
(i)
Three Bays Capital LP (“Three Bays Capital”), a Delaware limited partnership and investment manager to TBC Master;
 
 
(ii)
TBC GP LLC (“TBC GP”), a Delaware limited liability company and the General Partner of Three Bays Capital;
 
 
(iii)
TBC Master, a Cayman Islands exempted limited partnership;
 
 
(iv)
TBC Partners GP LLC (“TBC Partners GP”), a Delaware limited liability company and the General Partner of TBC Master; and
 
 
(v)
Matthew Sidman, the Managing Member of TBC GP and TBC Partners GP.
 
The above parties are sometimes individually referred to herein as a “Reporting Person” and collectively as the “Reporting Persons”.
 
Item 2 (b).
Address of Principal Business Office or, if None, Residence:
 
The address for each of the Reporting Persons (except TBC Master) is:
 
c/o Three Bays Capital LP
222 Berkeley Street, 19th Floor
Boston, Massachusetts 02116
 
The address for TBC Master is:
 
c/o Morgan Stanley Fund Services (Cayman) Ltd.
Cayman Corporate Centre
27 Hospital Road
George Town, Grand Cayman KY1-9008
Cayman Islands


Item 2 (c).
Citizenship:
 
Three Bays Capital – Delaware
 


TBC GP – Delaware

TBC Master – Cayman Islands
 
TBC Partners GP – Delaware
 
Matthew Sidman – United States
 
Item 2 (d).
Title of Class of Securities:
 
Class A Common Stock, $0.01 par value (“Class A Common Stock”)
 
Item 2 (e).
CUSIP Number:
 
829226109
 
Item 3.
Not applicable.
 
Item 4.
Ownership.
 
For each of the Reporting Persons:
 
 
(a)
Amount beneficially owned: 4,117,518 shares of Class A Common Stock.  Such amount includes 700,000 shares of Class A Common Stock underlying listed call options.
 
 
(b)
Percent of class: 5.4%
 
 
(c)
Number of shares as to which such person has:
 
 
(i)
Sole power to vote or to direct the vote: 4,117,518
 
 
(ii)
Shared power to vote or to direct the vote: —0—
 
 
(iii)
Sole power to dispose or to direct the disposition of: 4,117,518
 
 
(iv)
Shared power to dispose or to direct the disposition of: —0—
 
The percentages of beneficial ownership of Class A Common Stock above are based on 76,071,145 shares of Class A Common Stock of the Issuer outstanding as of November 6, 2017, as disclosed in the Issuer’s Form 10-Q filed with the SEC on November 8, 2017.
 
Three Bays Capital is the investment manager of TBC Master. TBC GP is the General Partner of Three Bays Capital. TBC Partners GP is the General Partner of TBC Master. Matthew Sidman is the Managing Member of TBC GP and TBC Partners GP.

Each Reporting Person may be deemed to beneficially own the Class A Common Stock held directly by TBC Master, but neither the filing of this Schedule 13G nor any of its contents shall be deemed to constitute an admission that any Reporting Person other than TBC Master is the beneficial owner of Class A Common Stock referred to herein for purposes of Section 13(d) of the Securities Exchange Act of 1934, as amended, or for any other purpose (including, without limitation, any tax purposes) and each of the Reporting Persons other than TBC Master expressly disclaims beneficial ownership of all shares of Class A Common Stock held directly by TBC Master and any assertion or presumption that it and the other persons on whose behalf this statement is filed constitute a “group”.


  
Item 5.
Ownership of Five Percent or Less of a Class.
 
Not applicable.

Item 6.
Ownership of More than Five Percent on Behalf of Another Person.
 
Certain feeder funds that are limited partners of TBC Master have the right to receive dividends from, and proceeds from, the sale of the Class A Common Stock directly held by TBC Master.
 
Item 7.
Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
 
Not applicable.
 
Item 8.
Identification and Classification of Members of the Group.
 
Not applicable.
 
Item 9.
Notice of Dissolution of Group.
 
Not applicable.
 
Item 10.
Certification.
 
By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect.

 

 

SIGNATURE
 
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
 
 
January 11, 2018
 
 
 
Date
 
 
 
THREE BAYS CAPITAL LP
 
 
 
By: TBC GP LLC, its General Partner
 
 
 
/s/ Martha Mensoian
 
Signature
 
 
 
Martha Mensoian/General Counsel
 
Name/Title
 
 
 
TBC GP LLC
 
 
 
/s/ Martha Mensoian
 
Signature
 
 
 
Martha Mensoian/General Counsel
 
Name/Title
 
 
 
TBC MASTER LP
 
 
 
By: TBC Partners GP LLC, its General Partner
 
 
 
/s/ Martha Mensoian
 
Signature
 
 
 
Martha Mensoian/General Counsel
 
Name/Title

 
 
 
TBC PARTNERS GP LLC
 
 
 
/s/ Martha Mensoian
 
Signature
 
 
 
Martha Mensoian/General Counsel
 
Name/Title
 
 
 
MATTHEW SIDMAN
 
 
 
/s/ Martha Mensoian
 
Signature
 
 
 
Martha Mensoian/Authorized Signatory*
 
Name/Title
* Authorized signatory pursuant to power of attorney
 
 
 

 
EXHIBIT INDEX
 
 
 
 
 
 
Exhibit 1
  
Joint Filing Agreement, dated as of January 11, 2018, by and among Three Bays Capital LP, TBC GP LLC, TBC Master LP, TBC Partners GP LLC, and Matthew Sidman, as required by Rule 13d-1(k)(1) under the Securities Exchange Act of 1934, as amended.

 

Exhibit 1
 
JOINT FILING AGREEMENT PURSUANT TO RULE 13d-1(k)(1)
 
The undersigned acknowledge and agree that the foregoing statement on Schedule 13G is filed on behalf of each of the undersigned and that all subsequent amendments to this statement on Schedule 13G shall be filed on behalf of each of the undersigned without the necessity of filing additional joint filing statements. The undersigned acknowledge that each shall be responsible for the timely filing of such amendments, and for the completeness and accuracy of the information concerning him, her or it contained herein, but shall not be responsible for the completeness and accuracy of the information concerning the other entities or persons, except to the extent that he, she or it knows or has reason to believe such information is inaccurate.
 
 
 
January 11, 2018
 
 
 
Date
 
 
 
THREE BAYS CAPITAL LP
 
 
 
By: TBC GP LLC, its General Partner
 
 
 
/s/ Martha Mensoian
 
Signature
 
 
 
Martha Mensoian/General Counsel
 
Name/Title
 
 
 
TBC GP LLC
 
 
 
/s/ Martha Mensoian
 
Signature
 
 
 
Martha Mensoian/General Counsel
 
Name/Title
 
 
 
TBC MASTER LP
 
 
 
By: TBC Partners GP LLC, its General Partner
 
 
 
/s/ Martha Mensoian
 
Signature
 
 
 
Martha Mensoian/General Counsel
 
Name/Title

 
 
 
TBC PARTNERS GP LLC
 
 
 
/s/ Martha Mensoian
 
Signature
 
 
 
Martha Mensoian/General Counsel
 
Name/Title
 
 
 
MATTHEW SIDMAN
 
 
 
/s/ Martha Mensoian
 
Signature
 
 
 
Martha Mensoian/Authorized Signatory*
 
Name/Title
 * Authorized signatory pursuant to power of attorney