SEGMENT DATA

3 Months Ended

Mar. 31, 2021

Segment Reporting [Abstract]

SEGMENT DATA

SEGMENT DATA:

We measure segment performance based on operating income (loss). We have two reportable segments: broadcast and local sports. Our broadcast segment, previously referred to as our local news and marketing services segment, provides free over-the-air programming to television viewing audiences and includes stations in 87 markets located throughout the continental United States. Our local sports segment, previously referred to as our sports segment, provides viewers with live professional sports content and includes our Bally RSNs, Marquee, and our investment in the YES Network. Other and corporate are not reportable segments but are included for reconciliation purposes. Other primarily consists of original networks and content, including Tennis, non-broadcast digital and internet solutions, technical services, and other non-media investments. Corporate costs primarily include our costs to operate as a public company and to operate our corporate headquarters location. All of our businesses are located within the United States.

Segment financial information is included in the following tables for the periods presented (in millions):

As of March 31, 2021	Broadcast		Local sports		Other & Corporate		Eliminations		Consolidated
Assets	$	4,800	$	6,222	$	2,121	$	(11)	$	13,132

For the three months ended March 31, 2021	Broadcast		Local sports		Other & Corporate		Eliminations			Consolidated
Revenue	$	665	$	768	$	108	$	(30)	(a)	$	1,511
Depreciation of property and equipment and amortization of definite-lived intangibles and other assets	62		84		8		(1)			153
Amortization of sports programming rights	—		552		—		—			552
Amortization of program contract costs	21		—		2		—			23
Corporate general and administrative expenses	55		3		3		—			61
(Gain) loss on asset dispositions and other, net of impairment	(14)		—		—		—			(14)
Operating income (loss)	63		(41)		13		—			35
Interest expense including amortization of debt discount and deferred financing costs	1		108		45		(3)			151
Income (loss) from equity method investments	—		13		(4)		—			9

For the three months ended March 31, 2020	Broadcast		Local sports		Other & Corporate		Eliminations			Consolidated
Revenue	$	701	$	812	$	128	$	(32)	(a)	$	1,609
Depreciation of property and equipment and amortization of definite-lived intangibles and other assets	58		110		6		—			174
Amortization of sports programming rights	—		391		—		—			391
Amortization of program contract costs	23		—		—		—			23
Corporate general and administrative expenses	44		2		3		—			49
Gain on asset dispositions and other, net of impairment	(32)		—		—		—			(32)
Operating income (loss)	152		165		19		(9)			327
Interest expense including amortization of debt discount and deferred financing costs	1		123		59		(3)			180
Income (loss) from equity method investments	—		6		(12)		—			(6)

(a)Includes $27 million and $24 million for the three months ended March 31, 2021 and 2020, respectively, of revenue and selling, general, and administrative expenses, respectively, for services provided by broadcast to local sports and other, which are eliminated in consolidation.