XML 68 R56.htm IDEA: XBRL DOCUMENT v3.23.1
FAIR VALUE MEASUREMENTS - Schedule of Carrying Value and Fair Value of Notes and Debentures (Details) - USD ($)
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Feb. 07, 2023
Dec. 31, 2022
FAIR VALUE MEASUREMENTS:        
Investments in equity securities $ 234,000,000     $ 234,000,000
Debt discount and deferred financing costs 54,000,000     56,000,000
Interest Rate Swap        
FAIR VALUE MEASUREMENTS:        
Interest rate swap $ 3,000,000      
Notional amount     $ 600,000,000  
Fixed interest rate     3.90%  
Senior Notes | 5.500% Senior Notes due 2030        
FAIR VALUE MEASUREMENTS:        
Interest rate (as a percent) 5.50%      
Senior Notes | 5.500% Senior Notes due 2030 | Sinclair Television Group, Inc.        
FAIR VALUE MEASUREMENTS:        
Interest rate (as a percent) 5.50%      
Senior Notes | 5.125% Senior Notes due 2027        
FAIR VALUE MEASUREMENTS:        
Interest rate (as a percent) 5.125%      
Senior Notes | 5.125% Senior Notes due 2027 | Sinclair Television Group, Inc.        
FAIR VALUE MEASUREMENTS:        
Interest rate (as a percent) 5.125%      
Senior Notes | 4.125% Senior Secured Notes due 2030 | Sinclair Television Group, Inc.        
FAIR VALUE MEASUREMENTS:        
Interest rate (as a percent) 4.125%      
Bally's        
FAIR VALUE MEASUREMENTS:        
Option purchase price, minimum (in dollars per share) $ 30      
Option purchase price, maximum (in dollars per share) $ 45      
Bally's | Options and Warrants        
FAIR VALUE MEASUREMENTS:        
Measurement adjustments   $ (56,000,000)    
Level 1 | Face Value        
FAIR VALUE MEASUREMENTS:        
Deferred compensation assets $ 42,000,000     41,000,000
Deferred compensation liabilities 37,000,000     35,000,000
Level 1 | Fair Value        
FAIR VALUE MEASUREMENTS:        
Investments in equity securities 5,000,000     6,000,000
Deferred compensation assets 42,000,000     41,000,000
Deferred compensation liabilities 37,000,000     35,000,000
Level 1 | Fair Value | Money market funds        
FAIR VALUE MEASUREMENTS:        
Money market funds 450,000,000     741,000,000
Level 2 | Face Value | Debt of variable interest entities        
FAIR VALUE MEASUREMENTS:        
Debt fair value disclosure 8,000,000     8,000,000
Level 2 | Face Value | Debt of non-media subsidiaries        
FAIR VALUE MEASUREMENTS:        
Debt fair value disclosure 16,000,000     16,000,000
Level 2 | Face Value | Senior Notes | 5.500% Senior Notes due 2030        
FAIR VALUE MEASUREMENTS:        
Debt fair value disclosure 500,000,000     500,000,000
Level 2 | Face Value | Senior Notes | 5.125% Senior Notes due 2027        
FAIR VALUE MEASUREMENTS:        
Debt fair value disclosure 282,000,000     282,000,000
Level 2 | Face Value | Senior Notes | 4.125% Senior Secured Notes due 2030        
FAIR VALUE MEASUREMENTS:        
Debt fair value disclosure 750,000,000     750,000,000
Level 2 | Face Value | Term Loan | Term Loan B-2, due September 30, 2026        
FAIR VALUE MEASUREMENTS:        
Debt fair value disclosure 1,255,000,000     1,258,000,000
Level 2 | Face Value | Term Loan | Term Loan B-3, due April 1, 2028        
FAIR VALUE MEASUREMENTS:        
Debt fair value disclosure 727,000,000     729,000,000
Level 2 | Face Value | Term Loan | Term Loan B-4, due April 21, 2029        
FAIR VALUE MEASUREMENTS:        
Debt fair value disclosure 744,000,000     746,000,000
Level 2 | Fair Value        
FAIR VALUE MEASUREMENTS:        
Investments in equity securities 154,000,000     153,000,000
Level 2 | Fair Value | Debt of variable interest entities        
FAIR VALUE MEASUREMENTS:        
Debt fair value disclosure 8,000,000     8,000,000
Level 2 | Fair Value | Debt of non-media subsidiaries        
FAIR VALUE MEASUREMENTS:        
Debt fair value disclosure 16,000,000     16,000,000
Level 2 | Fair Value | Senior Notes | 5.500% Senior Notes due 2030        
FAIR VALUE MEASUREMENTS:        
Debt fair value disclosure 399,000,000     347,000,000
Level 2 | Fair Value | Senior Notes | 5.125% Senior Notes due 2027        
FAIR VALUE MEASUREMENTS:        
Debt fair value disclosure 244,000,000     230,000,000
Level 2 | Fair Value | Senior Notes | 4.125% Senior Secured Notes due 2030        
FAIR VALUE MEASUREMENTS:        
Debt fair value disclosure 608,000,000     560,000,000
Level 2 | Fair Value | Term Loan | Term Loan B-2, due September 30, 2026        
FAIR VALUE MEASUREMENTS:        
Debt fair value disclosure 1,148,000,000     1,198,000,000
Level 2 | Fair Value | Term Loan | Term Loan B-3, due April 1, 2028        
FAIR VALUE MEASUREMENTS:        
Debt fair value disclosure 656,000,000     692,000,000
Level 2 | Fair Value | Term Loan | Term Loan B-4, due April 21, 2029        
FAIR VALUE MEASUREMENTS:        
Debt fair value disclosure 676,000,000     709,000,000
Level 2 | Fair Value | Interest Rate Swap        
FAIR VALUE MEASUREMENTS:        
Interest rate swap 3,000,000     0
Level 3 | Face Value | Options and Warrants        
FAIR VALUE MEASUREMENTS:        
Measurement adjustments 0 $ (56,000,000)    
Level 3 | Fair Value        
FAIR VALUE MEASUREMENTS:        
Investments in equity securities $ 75,000,000     $ 75,000,000