Debt and Other Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2015

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



(In thousands)	2015			2014
Media General Credit Agreement	$	1,541,000		$	1,701,000
2022 Notes	400,000			400,000
2021 Notes	275,000			290,000
Shield Media Credit Agreement	27,800			29,600
Other borrowings	1,240			2,111
Total debt	2,245,040			2,422,711
Less: net unamortized discount	(10,226		)	(10,768		)
Less: scheduled current maturities	(3,120		)	(11,781		)

Long-term debt excluding current maturities	$	2,231,694		$	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 September 30, 2015, and December 31, 2014:



	September 30, 2015				December 31, 2014
	Carrying		Fair		Carrying		Fair
(In thousands)	Amount		Value		Amount		Value
Assets:
Investments
Trading securities	$	232	$	232	$	449	$	449
Liabilities:
Long-term debt:
Media General Credit Agreement	1,532,129		1,519,513		1,690,753		1,686,000
2022 Notes	398,225		398,659		398,038		397,000
2021 Notes	275,420		286,000		291,442		289,000
Shield Media Credit Agreement	27,800		27,800		29,600		29,600
Other borrowings	1,240		1,240		2,111		2,111