SEGMENT DATA (Tables)

3 Months Ended

Mar. 31, 2023

Segment Reporting [Abstract]

Schedule of Segment Financial Information

Segment financial information is included in the following tables for the periods presented (in millions):

As of March 31, 2023	Broadcast		Other & Corporate			Eliminations		Consolidated
Assets	$	4,379	$	2,057	(d)	$	—	$	6,436

For the three months ended March 31, 2023	Broadcast			Other & Corporate		Eliminations			Consolidated
Revenue	$	676	(b)	$	104	$	(7)	(a)	$	773
Depreciation of property and equipment and amortization of definite-lived intangibles and other assets	59			7		(1)			65
Amortization of program contract costs	17			5		—			22
Corporate general and administrative expenses	33			25		—			58
(Gain) loss on asset dispositions and other, net of impairment	(2)			8		—			6
Operating income (loss)	51			(30)		—			21
Interest expense including amortization of debt discount and deferred financing costs	1			76		(3)			74
Income from equity method investments	—			31		—			31

For the three months ended March 31, 2022	Broadcast			Local sports (c)		Other & Corporate		Eliminations			Consolidated
Revenue	$	721	(b)	$	482	$	134	$	(49)	(a)	$	1,288
Depreciation of property and equipment and amortization of definite-lived intangibles and other assets	60			54		8		(1)			121
Amortization of sports programming rights	—			326		—		—			326
Amortization of program contract costs	20			—		5		—			25
Corporate general and administrative expenses	43			1		3		—			47
Gain on deconsolidation of subsidiary	—			—		(3,357)		—			(3,357)
Gain on asset dispositions and other, net of impairment	(5)			—		—		—			(5)
Operating income (loss)	97			(4)		3,372		1			3,466
Interest expense including amortization of debt discount and deferred financing costs	1			72		47		(5)			115
Income from equity method investments	—			10		2		—			12

(a)Includes $5 million and $22 million for the three months ended March 31, 2023 and 2022, respectively, of revenue for services provided by other to broadcast, which is eliminated in consolidation, and $1 million and $24 million for the three months ended March 31, 2023 and 2022, respectively, of revenue for services provided by broadcast to other and local sports, which is eliminated in consolidation.

(b)Includes $10 million and $5 million for the three months ended March 31, 2023 and 2022, respectively, of revenue for services provided by broadcast under management services agreements after the Deconsolidation, which is not eliminated in consolidation. See Deconsolidation of Diamond Sports Intermediate Holdings LLC within Note 1. Nature of Operations and Summary of Significant Accounting Policies.

(c)Represents the activity prior to the Deconsolidation on March 1, 2022. See Deconsolidation of Diamond Sports Intermediate Holdings LLC within Note 1. Nature of Operations and Summary of Significant Accounting Policies.

(d)Includes the note receivable due to the Company outstanding under the A/R facility of approximately $193 million. See Note Receivable within Note 2. Other Assets.