Debt and Other Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2016

Long-term debt at March 31, 2016, and December 31, 2015, was as follows:



(In thousands)	2016			2015
Media General Credit Agreement	$	1,541,000		$	1,541,000
2022 Notes	400,000			400,000
2021 Notes	275,000			275,000
Shield Media Credit Agreement	26,400			27,200
Other borrowings	659			950
Total debt	2,243,059			2,244,150
Less: net unamortized discount	(8,531		)	(8,992		)
Less: scheduled current maturities	(3,514		)	(3,804		)
Less: unamortized debt issuance fees	(30,671		)	(32,244		)
Long-term debt excluding current maturities	$	2,200,343		$	2,199,110

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 March 31, 2016, and December 31, 2015:



	March 31, 2016				December 31, 2015
	Carrying		Fair		Carrying		Fair
(In thousands)	Amount		Value		Amount		Value
Assets:
Investments
Trading securities	$	274	$	274	$	257	$	257
Liabilities:
Long-term debt:
Media General Credit Agreement	1,508,934		1,545,471		1,507,182		1,529,229
2022 Notes	392,799		406,898		392,527		404,344
2021 Notes	275,324		302,502		275,340		288,228
Shield Media Credit Agreement	26,140		26,140		26,915		27,200
Other borrowings	659		659		950		950