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Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
shares in Millions, $ in Millions
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Revenue (less agency commissions) $ 823 $ 801
Operating expenses before depreciation, amortization and loss on disposal of assets, net:    
Depreciation 36 35
Amortization of intangible assets 31 49
Loss on disposal of assets, net 0 10
Operating expenses 699 734
Operating income 124 67
Other income (expense):    
Miscellaneous income (expense), net 110 (2)
Interest expense (115) (104)
Loss on early extinguishment of debt 0 (3)
Income (loss) before income taxes 119 (42)
Income tax expense (benefit) 31 (11)
Net income (loss) 88 (31)
Preferred stock dividends 13 13
Net income (loss) attributable to common stockholders $ 75 $ (44)
Basic per share information:    
Net income (loss) attributable to common stockholders (in dollars per share) $ 0.8 $ (0.48)
Weighted average common shares outstanding (in shares) 94 92
Diluted per share information:    
Net income (loss) attributable to common stockholders (in dollars per share) $ 0.79 $ (0.48)
Weighted average common shares outstanding (in shares) 95 92
Dividends declared per common share (in dollars per share) $ 0.08 $ 0.08
Broadcasting, Segment [Member]    
Revenue (less agency commissions) $ 799 $ 779
Operating expenses before depreciation, amortization and loss on disposal of assets, net:    
Cost of goods and services sold 583 555
Production Companies, Segment [Member]    
Revenue (less agency commissions) 24 22
Operating expenses before depreciation, amortization and loss on disposal of assets, net:    
Cost of goods and services sold 21 59
Other Operating Segment [Member]    
Operating expenses before depreciation, amortization and loss on disposal of assets, net:    
Corporate and administrative 28 26
Depreciation 36 35
Amortization of intangible assets $ 31 $ 49