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Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
shares in Millions, $ in Millions
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Revenue (less agency commissions) $ 827 $ 544
Operating expenses before depreciation, amortization and gain on disposal of assets, net:    
Depreciation 32 25
Amortization of intangible assets 52 26
Operating expenses 663 443
Operating income 164 101
Other income (expense):    
Miscellaneous (expense) income, net (2) 1
Interest expense (79) (48)
Income before income taxes 83 54
Income tax expense 21 15
Net income 62 39
Preferred stock dividends 13 13
Net income attributable to common stockholders $ 49 $ 26
Basic per common share information:    
Net income (in dollars per share) $ 0.53 $ 0.28
Weighted average common shares outstanding (in shares) 93 94
Diluted per common share information:    
Net income (in dollars per share) $ 0.52 $ 0.27
Weighted average common shares outstanding (in shares) 94 95
Dividends declared per common share (in dollars per share) $ 0.08 $ 0.08
Broadcasting, Segment [Member]    
Revenue (less agency commissions) $ 804 $ 530
Operating expenses before depreciation, amortization and gain on disposal of assets, net:    
Cost of goods and services sold 530 361
Operating expenses 605 404
Operating income 199 126
Other income (expense):    
Interest expense 0 0
Production Companies, Segment [Member]    
Revenue (less agency commissions) 23 14
Operating expenses before depreciation, amortization and gain on disposal of assets, net:    
Cost of goods and services sold 26 17
Operating expenses 29 20
Operating income (6) (6)
Other income (expense):    
Interest expense 0 0
Other Segments [Member]    
Revenue (less agency commissions) 0 0
Operating expenses before depreciation, amortization and gain on disposal of assets, net:    
Corporate and administrative 28 18
Depreciation 32 25
Amortization of intangible assets 52 26
Gain on disposal of assets, net (5) (4)
Operating expenses 29 19
Operating income (29) (19)
Other income (expense):    
Interest expense $ (79) $ (48)