CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS  FOR THE YEAR ENDED DECEMBER 31, 2010  (In thousands) Sinclair  Broadcast  Group, Inc.  Sinclair  Television  Group, Inc.  Guarantor  Subsidiaries  and KDSM,  LLC  Non- Guarantor  Subsidiaries Eliminations Sinclair  Consolidated  NET CASH FLOWS (USED IN) FROM  OPERATING ACTIVITIES  $ (25,213)  $ (76,450)  $ 265,706  $ (5,729)  $ (3,353)  $ 154,961  CASH FLOWS (USED IN) FROM  INVESTING ACTIVITIES:  Acquisition of property and equipment  — (3,686) (6,173) (1,835) — (11,694) Purchase of alarm monitoring contracts  —  —  —  (10,106)  —  (10,106)  Decrease in restricted cash  — 59,342 260 — — 59,602 Distributions from investments  709  —  —  185  —  894  Investments in equity and cost method  investees  (2,000) — — (5,224) — (7,224) Proceeds from sale of assets  —  —  110  —  —  110  Loans to affiliates  (136) — — — — (136) Proceeds from loans to affiliates  117  —  —  —  —  117  Proceeds from insurance settlement  — — 372 — — 372 Net cash flows (used in) from  investing activities  (1,310)  55,656  (5,431)  (16,980)  —  31,935  CASH FLOWS FROM (USED IN)  FINANCING ACTIVITIES:  Proceeds from notes payable,  commercial bank financing and  capital leases  — 264,068 — 19,862 — 283,930 Repayments of notes payable,  commercial bank financing and  capital leases  (103,878)  (302,350)  (317)  (20,876)  —  (427,421)  Dividends paid on Class A and Class B  Common Stock  (34,557) — — — 332 (34,225) Payments for deferred financing costs  —  (7,016)  —  (4)  —  (7,020)  Distributions from noncontrolling  interests  — — — (287) — (287) Repayments of notes and capital leases  to affiliates  (753)  —  (2,370)  —  —  (3,123)  Increase (decrease) in intercompany  payables  165,711 60,799 (256,783) 27,252 3,021 — Net cash flows from (used in)  financing activities  26,523  15,501  (259,470)  25,947  3,353  (188,146)  NET (DECREASE) INCREASE IN  CASH AND CASH EQUIVALENTS  —  (5,293)  805  3,238  —  (1,250)  CASH AND CASH EQUIVALENTS,  beginning of period  — 10,364 217 12,643 — 23,224 CASH AND CASH EQUIVALENTS,  end of period  $ —  $ 5,071  $ 1,022  $ 15,881  $ —  $ 21,974  66    Sinclair Broadcast Group 