SEGMENT DATA (Tables)

9 Months Ended

Sep. 30, 2024

Schedule of Segment Financial Information

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


As of September 30, 2024	Local Media		Tennis		Other & Corporate		Eliminations		Consolidated
Assets	$	4,546	$	271	$	971	$	(3)	$	5,785


For the three months ended September 30, 2024	Local Media		Tennis		Other & Corporate		Eliminations			Consolidated
Revenue	$	845	$	60	$	19	$	(7)	(a)	$	917
Depreciation of property and equipment and amortization of definite-lived intangibles and other assets	58		5		1		(1)			63
Amortization of program costs	18		—		—		—			18
Corporate general and administrative expenses	24		1		16		—			41

Gain on asset dispositions and other, net of impairment	(11)		—		(2)		—			(13)

Operating income (loss)	182		11		(14)		—			179
Interest expense including amortization of debt discount and deferred financing costs	78		—		—		—			78
Income (loss) from equity method investments	1		(1)		—		—			—

For the nine months ended September 30, 2024	Local Media		Tennis		Other & Corporate		Eliminations			Consolidated
Revenue	$	2,322	$	190	$	54	$	(22)	(a)	$	2,544
Depreciation of property and equipment and amortization of definite-lived intangibles and other assets	174		16		2		(3)			189
Amortization of program costs	55		—		—		—			55
Corporate general and administrative expenses	94		2		53		—			149

Gain on asset dispositions and other, net of impairment	(11)		—		—		—			(11)

Operating income (loss)	306		32		(53)		—			285
Interest expense including amortization of debt discount and deferred financing costs	230		—		—		—			230
Income (loss) from equity method investments	1		(2)		93		—			92


For the three months ended September 30, 2023	Local Media		Tennis		Other & Corporate		Eliminations			Consolidated
Revenue	$	697	$	59	$	17	$	(6)	(a)	$	767
Depreciation of property and equipment and amortization of definite-lived intangibles and other assets	59		5		3		(1)			66

Amortization of program costs	18		—		—		—			18
Corporate general and administrative expenses	31		1		13		—			45
Loss on deconsolidation of subsidiary	—		—		10		—			10
(Gain) loss on asset dispositions and other, net of impairment	(2)		—		2		—			—

Operating income (loss)	53		13		(29)		—			37
Interest expense including amortization of debt discount and deferred financing costs	77		—		—		—			77


For the nine months ended September 30, 2023	Local Media		Tennis		Other & Corporate		Eliminations			Consolidated
Revenue	$	2,101	$	174	$	48	$	(15)	(a)	$	2,308
Depreciation of property and equipment and amortization of definite-lived intangibles and other assets	185		15		6		(2)			204

Amortization of program costs	59		—		—		—			59
Corporate general and administrative expenses	109		1		55		—			165
Loss on deconsolidation of subsidiary	—		—		10		—			10
(Gain) loss on asset dispositions and other, net of impairment	(5)		—		16		—			11

Operating income (loss)	116		34		(95)		—			55
Interest expense including amortization of debt discount and deferred financing costs	227		—		—		—			227
Income from equity method investments	—		—		30		—			30

(a)Includes $4 million and $9 million for the three and nine months ended September 30, 2024, respectively, and $2 million and $5 million for the three and nine months ended September 30, 2023, respectively, of revenue for services provided by other to local media, which is eliminated in consolidation.