Debt and Other Financial Instruments (Tables)

6 Months Ended

Jun. 30, 2015

Long-term debt at June 30, 2015, and December 31, 2014, was as follows:



(In thousands)	2015			2014
Media General Credit Agreement	$	1,566,000		$	1,701,000
2022 Notes	400,000			400,000
2021 Notes	290,000			290,000
Shield Media Credit Agreement	28,400			29,600
Other borrowings	1,524			2,111
Total debt	2,285,924			2,422,711
Less: net unamortized discount	(9,825		)	(10,768		)
Less: scheduled current maturities	(3,404		)	(11,781		)

Long-term debt excluding current maturities	$	2,272,695		$	2,400,162

Schedule of Carrying Values and Estimated Fair Values of Debt Instruments

The following table includes information about the carrying values and estimated fair values of the Company’s financial instruments at June 30, 2015, and December 31, 2014:



	June 30, 2015				December 31, 2014
	Carrying		Fair		Carrying		Fair
(In thousands)	Amount		Value		Amount		Value
Assets:
Investments
Trading securities	$	449	$	449	$	449	$	449
Liabilities:
Long-term debt:
Media General Credit Agreement	1,556,670		1,555,388		1,690,753		1,686,000
2022 Notes	398,163		395,357		398,038		397,000
2021 Notes	291,342		300,875		291,442		289,000
Shield Media Credit Agreement	28,400		28,400		29,600		29,600
Other borrowings	1,524		1,524		2,111		2,111