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Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Revenues (less agency commissions)        
Revenue (less agency commissions) $ 604 $ 517 $ 1,589 $ 1,543
Operating expenses before depreciation, amortization and gain on disposal of fixed assets, net:        
Corporate and administrative 15 14 47 83
Depreciation 27 20 69 60
Amortization of intangible assets 26 29 78 86
Gain on disposal of fixed assets, net (10) (14) (23) (27)
Operating expenses 392 378 1,188 1,245
Operating income 212 139 401 298
Other income (expense):        
Miscellaneous (expense) income, net (2) 0 (5) 4
Interest expense (45) (57) (143) (173)
Income before income taxes 165 82 253 129
Income tax expense 43 23 67 44
Net income 122 59 186 85
Preferred stock dividends 13 13 39 39
Net income attributable to common stockholders $ 109 $ 46 $ 147 $ 46
Basic per share information:        
Net income attributable to common stockholders (in dollars per share) $ 1.15 $ 0.46 $ 1.52 $ 0.46
Weighted-average shares outstanding (in shares) 95 100 97 100
Diluted per share information:        
Net income attributable to common stockholders (in dollars per share) $ 1.14 $ 0.46 $ 1.52 $ 0.46
Weighted-average shares outstanding (in shares) 96 101 97 100
Dividends declared per common share (in dollars per share) $ 0 $ 0 $ 0 $ 0
Broadcasting, Segment [Member]        
Revenues (less agency commissions)        
Revenue (less agency commissions) $ 593 $ 501 $ 1,557 $ 1,481
Operating expenses before depreciation, amortization and gain on disposal of fixed assets, net:        
Cost of goods and services sold 326 316 985 986
Operating expenses     1,100 1,094
Operating income     457 387
Other income (expense):        
Interest expense     0 0
Production Companies, Segment [Member]        
Revenues (less agency commissions)        
Revenue (less agency commissions) 11 16 32 62
Operating expenses before depreciation, amortization and gain on disposal of fixed assets, net:        
Cost of goods and services sold $ 8 $ 13 32 57
Operating expenses     39 66
Operating income     (7) (4)
Other income (expense):        
Interest expense     $ 0 $ 0