FAIR VALUE MEASUREMENTS (Tables)

12 Months Ended

Dec. 31, 2016

Schedule of carrying value and fair value of notes and debentures

The carrying value and fair value of our notes and debentures as of December 31, 2016 and 2015 were as follows (in thousands):



	2016				2015
	Carrying Value (b)		Fair Value		Carrying Value (b)		Fair Value
Level 2:
6.375% Senior Unsecured Notes due 2021 (a)	$	—	$	—	$	350,000	$	367,325
6.125% Senior Unsecured Notes due 2022	500,000		521,240		500,000		512,500
5.875% Senior Unsecured Notes due 2026 (a)	350,000		351,456		—		—
5.625% Senior Unsecured Notes due 2024	550,000		562,755		550,000		539,000
5.375% Senior Unsecured Notes due 2021	600,000		617,892		600,000		605,658
5.125% Senior Unsecured Notes due 2027 (a)	400,000		382,028		—		—
Term Loan A	272,198		271,517		313,620		308,916
Term Loan B	1,365,625		1,364,841		1,376,007		1,365,461
Debt of variable interest entities	23,198		23,198		26,682		26,682
Debt of other non-media related subsidiaries	135,211		135,211		120,969		120,969

(a) During the year ended 2016, we redeemed the 6.375% Notes and issued the 5.875% and 5.125% Notes. See Note 6. Notes Payable and Commercial Bank Financing, for additional information.

(b) Amounts are carried net of debt discount and deferred financing costs, which are excluded in the above table, of $43.4 million and $42.3 million as of December 31, 2016 and 2015.