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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Cash flows from operating activities:      
Net (loss) income $ (76,000) $ 455,000 $ 90,000
Adjustments to reconcile net (loss) income to net cash provided by operating activities:      
Depreciation 145,000 129,000 104,000
Amortization of intangible assets 194,000 207,000 117,000
Amortization of deferred loan costs 13,000 16,000 12,000
Accretion of original issue discount and premium related to long-term debt, net (1,000) (1,000) (1,000)
Amortization of restricted stock awards 20,000 22,000 14,000
Amortization of program broadcast rights 37,000 48,000 38,000
Payments on program broadcast obligations (38,000) (49,000) (38,000)
Common stock contributed to 401(k) plan 10,000 9,000 8,000
Deferred income taxes (91,000) (20,000) (22,000)
Loss (gain) on disposal of assets, net 21,000 (2,000) 42,000
Loss on early extinguishment of debt 3,000 0 0
Impairment of investments 29,000 18,000 0
Goodwill and Intangible Asset Impairment 43,000 0 0
Other 14,000 0 (14,000)
Changes in operating assets and liabilities, net of acquisitions:      
Accounts receivable, net 308,000 (26,000) (30,000)
Income tax receivable or prepaid 26,000 (4,000) (40,000)
Other current assets 7,000 0 10,000
Accounts payable (32,000) (5,000) 22,000
Employee compensation, benefits and pension costs 12,000 3,000 21,000
Accrued network fees and other expenses (13,000) 6,000 (27,000)
Accrued interest 3,000 8,000 14,000
Income taxes payable 7,000 5,000 (8,000)
Deferred revenue 7,000 10,000 (12,000)
Net cash provided by operating activities 648,000 829,000 300,000
Cash flows from investing activities:      
Acquisitions of businesses and broadcast licenses, net of cash acquired (6,000) (58,000) (3,765,000)
Proceeds from sale of television stations 6,000 0 473,000
Purchases of property and equipment (348,000) (436,000) (207,000)
Proceeds from Repack reimbursement (Note 1) 0 7,000 11,000
Proceeds from asset sales 54,000 4,000 5,000
Reimbursement of development costs 18,000 0 0
Investments in broadcast, production and technology companies (14,000) (16,000) (49,000)
Other (1,000) (4,000) (2,000)
Net cash used in investing activities (291,000) (503,000) (3,534,000)
Cash flows from financing activities:      
Proceeds from borrowings on long-term debt 300,000 0 3,050,000
Repayments of borrowings on long-term debt (610,000) (315,000) (250,000)
Repurchases of common stock 0 (50,000) (30,000)
Payments of common stock dividends (30,000) (30,000) (31,000)
Payments of preferred stock dividends (52,000) (52,000) (52,000)
Deferred and other loan costs 0 0 (30,000)
Payments for taxes related to net share settlement of equity awards (5,000) (7,000) (7,000)
Net cash (used in) provided by financing activities (397,000) (454,000) 2,650,000
Net decrease in cash (40,000) (128,000) (584,000)
Cash at beginning of year 61,000 189,000 773,000
Cash at end of year $ 21,000 $ 61,000 $ 189,000