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Condensed Consolidated Statements Of Operations - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
Operating Revenues        
Television and Entertainment $ 466,061 $ 468,134 $ 902,094 $ 924,009
Other 3,456 11,662 7,333 24,259
Total operating revenues 469,517 479,796 909,427 [1] 948,268 [1]
Operating Expenses        
Programming 157,084 122,803 298,330 246,970
Direct operating expenses 96,940 96,523 195,747 194,095
Selling, general and administrative 141,576 148,127 301,435 308,761
Depreciation 13,927 14,467 27,498 [2] 28,909 [2]
Amortization 41,664 41,670 83,323 83,335
Total operating expenses 451,191 423,590 906,333 862,070
Operating Profit 18,326 56,206 3,094 [1],[3] 86,198 [1],[3]
Income on equity investments, net 40,761 44,306 77,798 82,558
Interest and dividend income 548 228 1,053 360
Interest expense (40,185) (38,071) (78,943) (76,212)
Loss on extinguishment and modification of debt 0 0 (19,052) 0
Gain on investment transaction 0 0 4,950 0
Write-downs of investment (58,800) 0 (180,800) 0
Other non-operating gain (loss), net 71 (75) 45 421
Reorganization items, net (449) (366) (699) (800)
(Loss) Income from Continuing Operations Before Income Taxes (39,728) 62,228 (192,554) 92,525
Income tax (benefit) expense (9,905) 214,856 (61,519) 230,051
Net Loss from Continuing Operations (29,823) (152,628) (131,035) (137,526)
(Loss) Income from Discontinued Operations, net of taxes (Note 2) (579) (8,935) 15,039 (12,944)
Net Loss $ (30,402) $ (161,563) $ (115,996) $ (150,470)
Earnings (Loss) Per Share        
Continuing Operations $ (0.34) $ (1.66) $ (1.51) $ (1.50)
Discontinued Operations (0.01) (0.10) 0.17 (0.14)
Net Loss Per Common Share (0.35) (1.76) (1.34) (1.64)
Continuing Operations (0.34) (1.66) (1.51) (1.50)
Discontinued Operations (0.01) (0.10) 0.17 (0.14)
Net Loss Per Common Share (0.35) (1.76) (1.34) (1.64)
Regular Cash Dividend        
Earnings (Loss) Per Share        
Dividends declared per common share (usd per share) 0.25 0.25 0.5 0.50
Special Cash Dividend        
Earnings (Loss) Per Share        
Dividends declared per common share (usd per share) $ 0.00 $ 0.00 $ 5.77 $ 0.00
[1] (1)See Note 2 for the disclosures of operating revenues and operating loss included in discontinued operations for the historical periods.
[2] (3)Depreciation and amortization from discontinued operations totaled $3 million and $8 million respectively, for the three months ended June 30, 2016 and $6 million and $15 million, respectively, for the six months ended June 30, 2016.
[3] (2)Operating profit (loss) for each segment excludes income and loss on equity investments, interest and dividend income, interest expense, non-operating items, reorganization costs and income taxes.