Programming Content

6 Months Ended

Jun. 30, 2026

Other Industries [Abstract]

Programming Content

Programming Content

The predominant monetization strategy for the Company's programming content (which includes licensed program rights and owned and produced films and television programs) is as a group. Total programming content is as follows:

	June 30, 2026		December 31, 2025
	(Amounts in millions)
Licensed program rights, net of accumulated amortization	$	794.7	$	941.2
Owned and produced films and television programs:
Released, net of accumulated amortization	4.6		5.1
Complete and not released	45.0		—
In progress	6.9		36.6
In development	14.8		10.9
	71.3		52.6
Programming content, net	$	866.0	$	993.8

Amortization of programming content is as follows and is included in programming amortization in the accompanying unaudited condensed consolidated statements of operations:

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2026		2025		2026		2025
	(Amounts in millions)
Programming amortization expense:
Licensed program rights	$	112.3	$	161.5	$	249.4	$	280.2
Owned and produced films and television programs	1.8		1.0		3.0		0.7
	$	114.1	$	162.5	$	252.4	$	280.9