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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Cash flows from operating activities:    
Net income $ 188 $ 273
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 402 398
Stock-based compensation expense 39 38
Amortization of debt financing costs, debt discounts and premium 5 5
Loss on extinguishment of debt 5  
Gain on disposal of an investment   (40)
Deferred income taxes (24) (14)
Payments for broadcast rights (161) (166)
Income from equity method investments, net (19) (35)
Distribution from equity method investments - return on capital 125 139
Changes in operating assets and liabilities, net of acquisitions:    
Accounts receivable 6 48
Prepaid and other current assets (6) (12)
Other noncurrent assets 5 (11)
Accounts payable 60 (94)
Accrued expenses and other current liabilities 20 (1)
Income tax payable (38) (59)
Other noncurrent liabilities (29) (21)
Other 6 4
Net cash provided by operating activities 584 452
Cash flows from investing activities:    
Purchases of property and equipment (64) (81)
Payments for acquisitions, net of cash acquired (22)  
Proceeds from disposal of an investment   40
Other investing activities, net (3) 2
Net cash used in investing activities (89) (39)
Cash flows from financing activities:    
Proceeds from debt issuance, net of debt discounts 3,393 55
Repayments of long-term debt (3,543) (116)
Purchase of treasury stock (125) (246)
Common stock dividends paid (113) (112)
Payments for capitalized software obligations (10) (11)
Contribution from redeemable noncontrolling interests   19
Payment for excise tax on stock repurchases (5)  
Other financing activities, net (2) (3)
Net cash used in financing activities (405) (414)
Net increase (decrease) in cash and cash equivalents 90 (1)
Cash and cash equivalents at beginning of period 144 147
Cash and cash equivalents at end of period 234 146
Supplemental information:    
Interest paid 188 219
Income taxes paid, net of refunds 141 177
Non-cash investing and financing activities:    
Accrued and noncash purchases of long-lived assets 31 15
Right-of-use assets obtained in exchange for operating lease obligations $ 16 $ 25