Thank you, Billy. Good morning everyone, and thank you for joining our first quarter earnings call. We have some great results to report on the heels of the even more exciting news we announced last Friday. Last week, we announced the largest transaction in our company's history. We entered into a definitive agreement to purchase 21 regional sports networks from Disney for $9.6 billion, which is an implied $10.6 billion enterprise value. We are acquiring these assets at a very attractive and accretive 6.5 times multiple or 5.5 times, including the net present value of the step-up in the tax basis. This is the largest collection of RSNs in the marketplace today, and it's highly complementary to our existing broadcast and sports [technical difficulty].

The RSNs significantly expand our focus in local sports and diversify our content sources and revenue mix. We see many growth opportunities through digital platforms, political advertising, cross-promotion collaboration, remote production, legalized sports betting, and programming enhancements to name a few. While the RSNs represent a significant expansion at local sports, Sinclair's existing sports focused businesses have also done very well. Our commitment to producing and providing local sports to our communities ranked our high school sports production alongside national and regional sports networks as a national finalist in a synopsis Sports Media Awards. We were the only locally produced program to have been nominated for this prestigious honor.

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