Debt and Other Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2016

Long-term debt at September 30, 2016 and December 31, 2015, was as follows:



(In thousands)	September 30, 2016			December 31, 2015
Media General Credit Agreement	$	1,481,000		$	1,541,000
2022 Notes	400,000			400,000
2021 Notes	275,000			275,000
Shield Media Credit Agreement	24,800			27,200
Other borrowings	433			950
Total debt	2,181,233			2,244,150
Less: net unamortized discount	(7,361		)	(8,992		)
Less: scheduled current maturities	(3,547		)	(3,804		)
Less: unamortized debt issuance fees	(22,989		)	(32,244		)
Long-term debt excluding current maturities	$	2,147,336		$	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 September 30, 2016 and December 31, 2015:



	September 30, 2016				December 31, 2015
	Carrying		Fair		Carrying		Fair
(In thousands)	Amount		Value		Amount		Value
Assets:
Investments
Trading securities	$	410	$	410	$	257	$	257
Liabilities:
Long-term debt:
Media General Credit Agreement	1,457,278		1,527,858		1,507,182		1,529,229
2022 Notes	393,342		419,000		392,527		404,344
2021 Notes	275,290		285,725		275,340		288,228
Shield Media Credit Agreement	24,540		24,800		26,915		27,200
Other borrowings	433		433		950		950