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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Operating activities:    
Net income (loss) $ 206 $ (67)
Adjustments to reconcile net income (loss) to net cash provided by    
Depreciation 108 106
Amortization of intangible assets 94 147
Amortization of deferred loan costs 11 10
Amortization of stock-based compensation 17 14
Amortization of program broadcast rights 20 29
Payments on program broadcast obligations (22) (30)
Deferred income taxes (12) (57)
Loss on disposal of assets, net 15 20
Gain on sale of investment (110) 0
Loss from early extinguishment of debt 1 3
Impairment of investments 0 8
Impairment of goodwill and other intangible assets 0 43
Other (2) 11
Changes in operating assets and liabilities:    
Accounts receivable, net (15) 311
Income taxes receivable or prepaid (34) 9
Other current assets (2) 3
Accounts payable (6) (29)
Employee compensation, benefits and pension cost (14) (16)
Accrued network fees and other expenses 57 9
Accrued interest 56 32
Income taxes payable (13) (2)
Deferred revenue 28 11
Net cash provided by operating activities 383 565
Investing activities:    
Acquisitions of businesses and broadcast licenses, net of cash acquired 0 (7)
Proceeds from sale of television stations 0 6
Purchases of property and equipment (103) (288)
Proceeds from asset sales 8 31
Proceeds from sale of investment 110 0
Reimbursement of development costs 0 11
Investments in broadcast, production and technology companies (4) (11)
Other (1) (1)
Net cash provided by (used in) investing activities 10 (259)
Financing activities:    
Proceeds from borrowings on long-term debt 2,025 225
Repayments of borrowings on long-term debt (2,257) (506)
Payments of common stock dividends (24) (22)
Payments of preferred stock dividends (39) (39)
Deferred and other loan costs (47) 0
Payments of taxes related to net share settlement of equity awards (3) (4)
Net cash used in financing activities (345) (346)
Net increase (decrease) in cash 48 (40)
Cash at beginning of period 21 61
Cash at end of period $ 69 $ 21