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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
CASH FLOWS FROM OPERATING ACTIVITIES      
Net (loss) income $ (99) $ 319 $ (279)
Adjustments to reconcile net (loss) income to net cash flows from operating activities:      
Amortization of definite-lived intangible assets 145 149 166
Depreciation of property and equipment 104 101 105
Amortization of program contract costs 74 74 80
Stock-based compensation 51 51 45
Deferred tax (benefit) provision (121) 82 (358)
Loss (gain) on asset dispositions and other, net 26 (16) 3
Loss on deconsolidation of subsidiary 0 0 10
Income from equity method investments (61) (118) (29)
Loss from investments 34 7 91
Distributions from investments 74 31 32
Gain on extinguishment of debt (6) (1) (15)
Debt issuance costs 53 0 0
Changes in assets and liabilities, net of acquisitions and dispositions:      
Increase in accounts receivable (47) (28) (8)
(Increase) decrease in prepaid expenses and other current assets (9) 33 (32)
Increase (decrease) in accounts payable and accrued and other current liabilities 43 (495) 512
Net change in current and long-term net income taxes payable/receivable 23 (11) (3)
Decrease in program contracts payable (74) (80) (88)
Other, net (21) 0 3
Net cash flows from operating activities 189 98 235
CASH FLOWS (USED IN) FROM INVESTING ACTIVITIES      
Acquisition of property and equipment (74) (84) (92)
Acquisition of businesses, net of cash acquired (29) 0 0
Purchases of investments (51) (50) (72)
Distributions and proceeds from investments 30 203 206
Other, net 4 8 10
Net cash flows (used in) from investing activities (120) 77 52
CASH FLOWS FROM (USED IN) FINANCING ACTIVITIES      
Proceeds from notes payable and commercial bank financing 1,805 0 0
Repayments of notes payable, commercial bank financing and finance leases (1,515) (61) (85)
Repurchase of outstanding Class A Common Stock 0 0 (153)
Dividends paid on Class A and Class B Common Stock (69) (66) (65)
Repurchase of redeemable subsidiary preferred equity 0 0 (190)
Debt issuance costs (96) 0 0
Distributions to noncontrolling interests (17) (12) (13)
Other, net (8) (1) (3)
Net cash flows from (used in) financing activities 100 (140) (509)
NET INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH 169 35 (222)
CASH, AND CASH EQUIVALENTS, AND RESTRICTED CASH, beginning of year 697 662 884
CASH, AND CASH EQUIVALENTS, AND RESTRICTED CASH, end of year $ 866 $ 697 $ 662