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Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
Revenue (less agency commissions) $ 547 $ 451 $ 1,091 $ 985
Operating expenses before depreciation, amortization and gain on disposal of assets, net:        
Corporate and administrative 25 17 43 32
Depreciation 25 21 50 42
Amortization of intangible assets 27 26 53 52
Gain on disposal of assets, net (1) (7) (5) (13)
Operating expenses 439 386 882 796
Operating income 108 65 209 189
Other expense:        
Miscellaneous expense, net (7) (2) (6) (3)
Interest expense (47) (46) (95) (98)
Income before income taxes 54 17 108 88
Income tax expense 15 6 30 24
Net income 39 11 78 64
Preferred stock dividends 13 13 26 26
Net income (loss) attributable to common stockholders $ 26 $ (2) $ 52 $ 38
Basic per share information:        
Net income (loss) attributable to common stockholders (in dollars per share) $ 0.27 $ (0.02) $ 0.55 $ 0.39
Weighted-average shares outstanding (in shares) 95 97 94 98
Diluted per share information:        
Net income (loss) attributable to common stockholders (in dollars per share) $ 0.27 $ (0.02) $ 0.55 $ 0.39
Weighted-average shares outstanding (in shares) 95 97 95 98
Dividends declared per common share (in dollars per share) $ 0.08 $ 0 $ 0.16 $ 0
Broadcasting, Segment [Member]        
Revenue (less agency commissions) $ 537 $ 449 $ 1,067 $ 964
Operating expenses before depreciation, amortization and gain on disposal of assets, net:        
Cost of goods and services sold 354 324 715 659
Operating expenses     805 733
Operating income     262 231
Other expense:        
Interest expense     0 0
Production Companies, Segment [Member]        
Revenue (less agency commissions) 10 2 24 21
Operating expenses before depreciation, amortization and gain on disposal of assets, net:        
Cost of goods and services sold $ 9 $ 5 26 24
Operating expenses     32 30
Operating income     (8) (9)
Other expense:        
Interest expense     $ 0 $ 0