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Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Revenue (less agency commissions) $ 803 $ 909 $ 2,417 $ 2,604
Operating expenses before depreciation, amortization, impairment and loss (gain) on disposal of assets, net:        
Depreciation     106 96
Amortization of intangible assets     147 156
Impairment of goodwill and other intangible assets 43 0 43 0
(Gain) loss on disposal of assets, net (6) (1) 20 (6)
Operating expenses 719 664 2,147 1,977
Operating income 84 245 270 627
Other expense:        
Miscellaneous expense, net (10) (1) (13) (3)
Interest expense (111) (94) (324) (254)
Loss from early extinguishment of debt 0 0 (3) 0
(Loss) income before income taxes (37) 150 (70) 370
Income tax expense (benefit) 3 42 (3) 101
Net (loss) income (40) 108 (67) 269
Preferred stock dividends 13 13 39 39
Net (loss) income attributable to common stockholders $ (53) $ 95 $ (106) $ 230
Basic per share information:        
Net (loss) income attributable to common stockholders (in dollars per share) $ (0.57) $ 1.04 $ (1.15) $ 2.47
Weighted-average shares outstanding, basic (in shares) 93 91 92 93
Diluted per share information:        
Net (loss) income attributable to common stockholders (in dollars per share) $ (0.57) $ 1.03 $ (1.15) $ 2.47
Weighted-average shares outstanding, diluted (in shares) 93 92 92 93
Dividends declared per common share (in dollars per share) $ 0.08 $ 0.08 $ 0.24 $ 0.24
Broadcasting, Segment [Member]        
Revenue (less agency commissions) $ 783 $ 889 $ 2,363 $ 2,548
Operating expenses before depreciation, amortization, impairment and loss (gain) on disposal of assets, net:        
Cost of goods and services sold 557 537 1,664 1,595
Production Companies, Segment [Member]        
Revenue (less agency commissions) 20 20 54 56
Operating expenses before depreciation, amortization, impairment and loss (gain) on disposal of assets, net:        
Cost of goods and services sold 18 16 88 56
Other Segments [Member]        
Operating expenses before depreciation, amortization, impairment and loss (gain) on disposal of assets, net:        
Corporate and administrative 23 27 79 80
Depreciation 36 33 106 96
Amortization of intangible assets $ 48 $ 52 $ 147 $ 156