Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Millions	Mar. 31, 2026	Dec. 31, 2025
Current assets:	$ 523	$ 656
Cash	259	368
Accounts receivable, net	178	205
Current portion of program broadcast rights, net	11	17
Income tax refunds receivable	1	6
Prepaid income taxes	43	35
Prepaid and other current assets	31	25
Property and equipment, net	1,504	1,509
Operating leases right of use asset	64	66
Broadcast licenses	5,368	5,309
Goodwill	2,651	2,642
Other intangible assets, net	128	157
Investments in broadcasting and technology companies	32	37
Deferred pension assets	21	21
Other	28	43
Total assets	10,319	10,440
Current liabilities:
Accounts payable	130	144
Employee compensation and benefits	82	103
Accrued interest	103	151
Other accrued expenses	60	47
Federal and state income taxes	5	5
Current portion of program broadcast obligations	11	18
Deferred revenue	21	20
Dividends payable	15	16
Current portion of operating lease liabilities	10	10
Current portion of long-term debt	0	2
Total current liabilities	437	516
Long-term debt, less current portion and deferred financing costs	5,746	5,742
Deferred income taxes	1,300	1,300
Operating lease liabilities, less current portion	57	59
Other	16	18
Total liabilities	7,556	7,635
Commitments and Contingencies
Series A Perpetual Preferred Stock, no par value; cumulative; redeemable; designated 1,500,000 shares, issued and outstanding 650,000 shares at each date and $650 aggregate liquidation value at each date	650	650
Stockholders’ equity:
Retained earnings	1,164	1,205
Accumulated other comprehensive loss, net of income tax benefit	(4)	(4)
Stockholders' equity before treasury stock	2,445	2,478
Total stockholders’ equity	2,113	2,155
Total liabilities and stockholders’ equity	10,319	10,440
Common Stock (No Par Value) [Member]
Stockholders’ equity:
Common stock	1,214	1,210
Treasury stock at cost	(292)	(288)
Class A Common Stock (No Par Value) [Member]
Stockholders’ equity:
Common stock	71	67
Treasury stock at cost	$ (40)	$ (35)