Gray Television (GTN) 10-K 25 Feb 21 2020 FY Annual report Financial data

Document And Entity Information

Document And Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2020	Feb. 19, 2021	Jun. 30, 2019
Document Information [Line Items]
Entity Central Index Key	0000043196
Entity Registrant Name	GRAY TELEVISION INC
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2020
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2020
Document Transition Report	false
Entity File Number	1-13796
Entity Incorporation, State or Country Code	GA
Entity Tax Identification Number	58-0285030
Entity Address, Address Line One	4370 Peachtree Road, NE
Entity Address, City or Town	Atlanta
Entity Address, State or Province	GA
Entity Address, Postal Zip Code	30319
City Area Code	404
Local Phone Number	504-9828
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Public Float			$ 1,124,589,521
Common Class A [Member]
Document Information [Line Items]
Title of 12(b) Security	Class A common stock (no par value)
Trading Symbol	GTN.A
Security Exchange Name	NYSE
Entity Common Stock, Shares Outstanding		7,214,838
Common Stock [Member]
Document Information [Line Items]
Title of 12(b) Security	common stock (no par value)
Trading Symbol	GTN
Security Exchange Name	NYSE
Entity Common Stock, Shares Outstanding		88,223,962

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Assets:
Cash	$ 773	$ 212
Accounts receivable, less allowance for credit losses of $10 and $11, respectively	425	411
Current portion of program broadcast rights, net	24	25
Income tax refunds receivable	21	0
Prepaid and other current assets	61	24
Total current assets	1,304	672
Property and equipment, net	737	725
Operating lease right of use asset	57	50
Broadcast licenses	3,579	3,573
Goodwill	1,460	1,446
Other intangible assets, net	395	460
Investments in broadcasting and technology companies	72	17
Other	39	29
Total assets	7,643	6,972
Liabilities and stockholders’ equity:
Accounts payable	10	11
Employee compensation and benefits	53	67
Accrued interest	37	37
Accrued network programming fees	39	30
Other accrued expenses	29	32
Federal and state income taxes	20	13
Current portion of program broadcast obligations	25	28
Deferred revenue	22	9
Dividends payable	13	13
Current portion of operating lease liabilities	7	6
Total current liabilities	255	246
Long-term debt, less deferred financing costs	3,974	3,697
Program broadcast obligations, less current portion	5	7
Deferred income taxes	885	810
Accrued pension costs	43	38
Operating lease liabilities, less current portion	51	45
Other	27	15
Total liabilities	5,240	4,858
Commitments and contingencies (Note 12)
Series A Perpetual Preferred Stock, no par value; cumulative; redeemable; designated 1,500,000 shares, issued and outstanding 650,000 shares at each date and $650 aggregate liquidation value, at each date	650	650
Stockholders’ equity:
Common stock	1,110	1,093
Retained earnings	862	504
Accumulated other comprehensive loss	(39)	(31)
Stockholders' equity before treasury stock	1,967	1,597
Treasury stock at cost	(188)	(107)
Total stockholders’ equity	1,753	1,464
Total liabilities and stockholders’ equity	7,643	6,972
Common Class A [Member]
Stockholders’ equity:
Common stock	34	31
Treasury stock at cost	$ (26)	$ (26)

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parentheticals) - USD ($) $ / shares in Thousands, $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Accounts receivable, allowance for credit losses	$ 10	$ 11
Series A Perpetual Preferred Stock, par value (in dollars per share)	$ 0	$ 0
Series A Perpetual Preferred Stock, shares authorized (in shares)	1,500,000	1,500,000
Series A Perpetual Preferred Stock, shares issued (in shares)	650,000	650,000
Series A Perpetual Preferred Stock, shares outstanding (in shares)	650,000	650,000
Series A Perpetual Preferred Stock, liquidation value	$ 650	$ 650
Common stock, par value (in dollars per share)	$ 0	$ 0
Common stock, shares authorized (in shares)	200,000,000	200,000,000
Common stock, shares issued (in shares)	103,100,856	101,746,860
Common stock, shares outstanding (in shares)	88,140,259	92,658,362
Treasury stock (in shares)	14,960,597	9,088,498
Common Class A [Member]
Common stock, par value (in dollars per share)	$ 0	$ 0
Common stock, shares authorized (in shares)	25,000,000	25,000,000
Common stock, shares issued (in shares)	8,935,773	8,768,959
Common stock, shares outstanding (in shares)	7,048,006	6,881,192
Treasury stock (in shares)	1,887,767	1,887,767

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Revenues (less agency commissions)
Revenue (less agency commissions)	$ 2,381	$ 2,122	$ 1,084
Operating expenses before depreciation, amortization, and gain on disposals of assets, net:
Corporate and administrative	65	104	41
Depreciation	96	80	54
Amortization of intangible assets	105	115	21
Gain on disposal of assets, net	(29)	(54)	(17)
Operating expenses, net	1,629	1,644	695
Operating income	752	478	389
Other income (expense):
Miscellaneous (expense) income, net	(5)	4	6
Interest expense	(191)	(227)	(107)
Loss on early extinguishment of debt	(12)	0	0
Income before income taxes	544	255	288
Income tax expense	134	76	77
Net income	410	179	211
Preferred stock dividends	52	52	0
Net income attributable to common stockholders	$ 358	$ 127	$ 211
Basic per share information:
Net income attributable to common stockholders (in dollars per share)	$ 3.73	$ 1.28	$ 2.39
Weighted average shares outstanding (in shares)	96	99	88
Diluted per share information:
Net income attributable to common stockholders (in dollars per share)	$ 3.69	$ 1.27	$ 2.37
Weighted average shares outstanding (in shares)	97	100	89
Dividends declared per common share (in dollars per share)	$ 0	$ 0	$ 0
Broadcasting, Segment [Member]
Revenues (less agency commissions)
Revenue (less agency commissions)	$ 2,320	$ 2,035	$ 1,084
Operating expenses before depreciation, amortization, and gain on disposals of assets, net:
Cost of goods and services sold	1,340	1,325	596
Operating expenses, net	1,495	1,451	653
Operating income	825	584	431
Other income (expense):
Interest expense	0	0	0
Production Companies, Segment [Member]
Revenues (less agency commissions)
Revenue (less agency commissions)	61	87	0
Operating expenses before depreciation, amortization, and gain on disposals of assets, net:
Cost of goods and services sold	52	74	0
Operating expenses, net	66	87	0
Operating income	(5)	0	0
Other income (expense):
Interest expense	$ 0	$ 0	$ 0

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Net income	$ 410	$ 179	$ 211
Other comprehensive (loss) income :
Adjustment to pension liability	(10)	(7)	1
Income tax benefit	(2)	(2)	0
Adoption of ASU 2018-02		0
Other comprehensive (loss) income	(8)	(10)	1
Comprehensive income	402	169	212
AOCI Attributable to Parent [Member]
Net income	0	0	0
Other comprehensive (loss) income :
Adoption of ASU 2018-02	$ 0	$ (5)	$ 0

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity - USD ($) $ in Millions	Restricted Stock [Member]Common Stock [Member]Common Class A [Member]	Restricted Stock [Member]Common Stock [Member]	Restricted Stock [Member]Retained Earnings [Member]	Restricted Stock [Member]Treasury Stock [Member]Common Class A [Member]	Restricted Stock [Member]Treasury Stock [Member]	Restricted Stock [Member]AOCI Attributable to Parent [Member]	Restricted Stock [Member]	Restricted Stock Units (RSUs) [Member]Common Stock [Member]Common Class A [Member]	Restricted Stock Units (RSUs) [Member]Common Stock [Member]	Restricted Stock Units (RSUs) [Member]Retained Earnings [Member]	Restricted Stock Units (RSUs) [Member]Treasury Stock [Member]Common Class A [Member]	Restricted Stock Units (RSUs) [Member]Treasury Stock [Member]	Restricted Stock Units (RSUs) [Member]AOCI Attributable to Parent [Member]	Restricted Stock Units (RSUs) [Member]	Common Stock [Member]Common Class A [Member]	Common Stock [Member]	Retained Earnings [Member]	Treasury Stock [Member]Common Class A [Member]	Treasury Stock [Member]	AOCI Attributable to Parent [Member]	Total
Balance (in shares) at Dec. 31, 2017															8,349,069	88,788,664		(1,750,692)	(5,535,076)
Balance at Dec. 31, 2017															$ 25	$ 903	$ 162	$ (24)	$ (50)	$ (22)	$ 994
Net income															0	0	210	0	0	0	211
Adjustment to pension liability, net of income tax															$ 0	$ 0	0	$ 0	$ 0	1	1
Restricted stock awards (in shares)	220,080	391,836		(89,422)	(107,456)			0	209,500		0	(82,201)
Restricted stock awards	$ 0	$ 0	$ 0	$ (2)	$ (2)	$ 0	$ (4)	$ 0	$ 0	$ 0	$ 0	$ (1)	$ 0	$ (1)
Forfeiture of restricted stock awards (in shares)															0	(91,057)		0	0
Forfeiture of restricted stock awards															$ 0	$ (1)	0	$ 0	$ 0	0	(1)
Repurchase of common stock (in shares)															0	0		0	(1,551,710)
Repurchase of common stock															$ 0	$ 0	0	$ 0	$ (19)	0	(19)
Stock-based compensation															2	5	0	0	0	0	7
Adoption of ASU 2018-02																				0
Forfeiture of restricted stock awards															$ 0	$ 1	0	$ 0	$ 0	0	1
Balance (in shares) at Dec. 31, 2018															8,569,149	89,298,943		(1,840,114)	(7,276,443)
Balance at Dec. 31, 2018															$ 27	$ 907	372	$ (26)	$ (72)	(21)	1,187
Net income															0	0	179	0	0	0	179
Adjustment to pension liability, net of income tax															$ 0	$ 0	0	$ 0	$ 0	(5)	(5)
Restricted stock awards (in shares)															199,810	751,463		(47,653)	(152,371)
Restricted stock awards															$ 0	$ 0	0	$ 0	$ (3)	0	(3)
Repurchase of common stock (in shares)															0	0		0	(1,659,684)
Repurchase of common stock															$ 0	$ 0	0	$ 0	$ (32)	0	(32)
Stock-based compensation															4	12	0	0	0	0	16
Preferred stock dividends															$ 0	$ 0	(52)	$ 0	$ 0	0	(52)
Acquisitions of television businesses and licenses (in shares)															0	11,499,945		0	0
Acquisitions of television businesses and licenses															$ 0	$ 170	0	$ 0	$ 0	0	170
401(k) Plan (in shares)															0	196,509		0	0
401(k) Plan															$ 0	$ 4	0	$ 0	$ 0	0	4
Adoption of ASU 2018-02															$ 0	$ 0	5	$ 0	$ 0	(5)	0
Balance (in shares) at Dec. 31, 2019															8,768,959	101,746,860		(1,887,767)	(9,088,498)
Balance at Dec. 31, 2019															$ 31	$ 1,093	504	$ (26)	$ (107)	(31)	1,464
Net income															0	0	410	0	0	0	410
Adjustment to pension liability, net of income tax															$ 0	$ 0	0	$ 0	$ 0	(8)	(8)
Restricted stock awards (in shares)	166,814	359,481		0	(146,716)			0	374,500		0	(112,564)
Restricted stock awards	$ 0	$ 0	$ 0	$ 0	$ (2)	$ 0	$ (2)	$ 0	$ 0	$ 0	$ 0	$ (2)	$ 0	$ (2)
Forfeiture of restricted stock awards (in shares)															0	(85,630)		0	0
Forfeiture of restricted stock awards															$ 0	$ 0	0	$ 0	$ 0	0	0
Repurchase of common stock (in shares)															0	0		0	(5,457,884)
Repurchase of common stock															$ 0	$ 0	0	$ 0	$ (75)	0	(75)
Stock-based compensation															3	13	0	0	0	0	16
Preferred stock dividends															$ 0	$ 0	(52)	$ 0	$ 0	0	(52)
401(k) Plan (in shares)															0	430,899		0	0
401(k) Plan															$ 0	$ 4	0	$ 0	$ 0	0	4
Adoption of ASU 2018-02																				0
2007 Long Term Incentive Plan - stock options exercised (in shares)															0	274,746		0	(154,935)
2007 Long Term Incentive Plan - stock options exercised															$ 0	$ 0	0	$ 0	$ (2)	0	(2)
Forfeiture of restricted stock awards															$ 0	$ 0	0	$ 0	$ 0	0	0
Balance (in shares) at Dec. 31, 2020															8,935,773	103,100,856		(1,887,767)	(14,960,597)
Balance at Dec. 31, 2020															$ 34	$ 1,110	$ 862	$ (26)	$ (188)	$ (39)	$ 1,753

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Cash flows from operating activities:
Net income	$ 410	$ 179	$ 211
Adjustments to reconcile net income to net cash from operating activities:
Depreciation	96	80	54
Amortization of intangible assets	105	115	21
Amortization of deferred loan costs	12	12	5
Accretion of original issue discount and premium related to long-term debt, net	(1)	(1)	(1)
Amortization of restricted stock awards	16	16	7
Amortization of program broadcast rights	38	39	21
Payments on program broadcast obligations	(39)	(43)	(22)
Common stock contributed to 401(k) plan	4	4	0
Deferred income taxes	75	55	23
Gain on disposal of assets, net	(29)	(54)	(17)
Loss on early extinguishment of debt	12	0	0
Other	12	7	(5)
Changes in operating assets and liabilities, net of acquisitions:
Accounts receivable	(14)	22	(12)
Income tax receivable or prepaid	(21)	0	14
Other current assets	(36)	(7)	(3)
Accounts payable	(1)	(1)	1
Employee compensation, benefits and pension costs	(14)	3	5
Accrued network fees and other expenses	7	(41)	7
Accrued interest	0	3	8
Income taxes payable	7	(6)	6
Deferred revenue	13	3	0
Net cash provided by operating activities	652	385	323
Cash flows from investing activities:
Acquisitions of television businesses and licenses, net of cash acquired	(91)	(2,837)	0
Proceeds from sale of television stations	0	253	9
Purchases of property and equipment	(110)	(110)	(70)
Proceeds from Repack reimbursement (Note 1)	29	41	14
Proceeds from asset sales	9	3	0
Investments in broadcast, production and technology companies	(48)	0	0
Other	0	(6)	0
Net cash used in investing activities	(211)	(2,656)	(47)
Cash flows from financing activities:
Borrowings on long-term debt	800	1,400	750
Repayments of long-term debt	(525)	(211)	(40)
Repurchases of common stock	(75)	(32)	(19)
Preferred stock dividends	(52)	(39)	0
Deferred and other loan costs	(22)	(50)	(5)
Payments for taxes related to net share settlement of equity awards	(6)	(4)	(5)
Net cash provided by financing activities	120	1,064	681
Net increase (decrease) in cash	561	(1,207)	205
Net increase in restricted cash, included in non-current assets	0	0	752
Cash and restricted cash at beginning of period	212	1,419	462
Cash and restricted cash at end of period	$ 773	$ 212	$ 1,419

Note 1 - Description of Busines

Note 1 - Description of Business and Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Organization, Consolidation, Basis of Presentation, Business Description and Accounting Policies [Text Block]	1. Description of Business and Summary of Significant Accounting Policies Overview. 94 24% 2020, first 70 first second 86 Investments in Broadcasting, Production and Technology Companies. We account for all material investments in which we own more than 50% may Investments in non-public businesses that do not not not Trade and Barter Transactions . December 31, 2020, 2019 2018 Year Ended December 31, 2020 2019 2018 Trade revenue $ 5 $ 8 $ 3 Trade expense (5 ) (8 ) (3 ) Net trade income (loss) $ - $ - $ - We do not not not Advertising Expense . December 31, 2020, 2019 2018, Use of Estimates . Allowance for Credit Losses . may 120 December 31, 2020, 2019 2018, Our allowance for credit losses is an estimate of expected losses over the remaining contractual life of our receivables based on an ongoing analysis of collectability, historical collection experience, current economic and industry conditions and reasonable and supportable forecasts. The allowance is calculated using a historical loss rate applied to the current aging analysis. We may We are closely monitoring the potential impact of the COVID- 19 not December 31, 2020. The following table provides a roll-forward of the allowance for credit losses. The allowance is deducted from the amortized cost basis of accounts receivable in our condensed consolidated balance sheets (in milions): Year Ended December 31, 2020 Beginning balance $ 11 Provision for credit losses 2 Amounts written off (3 ) Amounts recovered from previous write-offs - Ending balance $ 10 Program Broadcast Rights . two first Wheel of Fortune Seinfeld not first first not The total license fee payable under a program license agreement allowing us to broadcast programs is recorded at the beginning of the license period and is charged to operating expense over the period that the programs are broadcast. The portion of the unamortized balance expected to be charged to operating expense in the succeeding year is classified as a current asset, with the remainder classified as a non-current asset. The liability for license fees payable under program license agreements is classified as current or long-term, in accordance with the payment terms of the various license agreements. Property and Equipment . Estimated December 31, Useful Lives 2020 2019 (in years) Property and equipment, net: Land $ 123 $ 119 Buildings and improvements 305 291 7 to 40 Equipment 834 776 3 to 20 1,262 1,186 Accumulated depreciation (525 ) (461 ) Total $ 737 $ 725 Maintenance, repairs and minor replacements are charged to operations as incurred; major replacements and betterments are capitalized. The cost of any assets divested, sold or retired and the related accumulated depreciation are removed from the accounts at the time of disposition, and any resulting gain or loss is reflected in income or expense for the period. In April 2017, $1.7 March 2018 $1.0 $750 may 48 37 2017 2021. The following tables provide additional information related to gain on disposal of assets, net included in our consolidated statements of operations and purchases of property and equipment included in our consolidated statements of cash flows (in millions): Year ended December 31, 2020 2019 2018 Gain on disposal of assets, net: Proceeds from sale of assets $ 9 $ 253 $ 9 Proceeds from Repack 29 41 14 Net book value of assets disposed (9 ) (240 ) (6 ) Total $ 29 $ 54 $ 17 Purchase of property and equipment: Recurring purchases - operations $ 87 $ 89 $ 41 Repack 23 20 27 Repack related - 1 2 Total $ 110 $ 110 $ 70 Deferred Loan Costs . Asset Retirement Obligations . 2062. December 31, 2020 2019. December 31, 2020, 2019 2018, not Concentration of Credit Risk . not Excluding political advertising revenue, which is cyclical based on election cycles, our most significant category of customer is automotive. During the years ended December 31, 2020, 2019 2018 no one 5% E arnings Per Share . not not The following table reconciles basic weighted-average shares outstanding to diluted weighted-average shares outstanding for the years ended December 31, 2020, 2019 2018 Year Ended December 31, 2020 2019 2018 Weighted average shares outstanding, basic 96 99 88 Weighted average shares underlying stock options and restricted shares 1 1 1 Weighted average shares outstanding, diluted 97 100 89 Valuation of Broadcast Licenses, Goodwill and Other Intangible Assets . For broadcast licenses acquired prior to January 1, 2002, For broadcast licenses acquired after December 31, 2001, December 31, 2001, When renewing broadcast licenses, we incur regulatory filing fees and legal fees. We expense these fees as they are incurred. Goodwill represents the excess of acquisition cost over the fair value of assets acquired, identifiable intangible assets, less liabilities assumed. Goodwill is tested for impairment on an annual basis (at year end) or between annual tests if events or changes in circumstances indicate that the fair value of a reporting unit may Other intangible assets that we have acquired include network affiliation agreements, retransmission agreements, advertising contracts, client lists, talent contracts and leases. Although each of our stations is affiliated with at least one Impairment Testing of Indefinite-Lived Intangible Assets. December 31. For purposes of testing goodwill for impairment, each of our individual television markets or production companies is considered a separate reporting unit. In the performance of our annual assessment of goodwill for impairment, we have the option to qualitatively assess whether it is more likely than not If we conclude that it is more likely than not not To estimate the fair value of our reporting units for a quantitative assessment, we utilize a discounted cash flow model supported by a market multiple approach. We believe that a discounted cash flow analysis is the most appropriate methodology to test the recorded value of long-term assets with a demonstrated long-lived/enduring franchise value. We believe the results of the discounted cash flow and market multiple approaches provide reasonable estimates of the fair value of our reporting units because these approaches are based on our actual results and reasonable estimates of future performance, and also take into consideration a number of other factors deemed relevant by us including, but not one In the performance of our annual assessment of broadcast licenses for impairment we have the option to qualitatively assess whether it is more likely than not not one no not For further discussion of our goodwill, broadcast licenses and other intangible assets, see Note 13 Accumulated Other Comprehensive Loss. December 31, 2020 2019 December 31, 2020 2019 Items included in accumulated other comprehensive loss: Increase in pension liability $ (52 ) $ (42 ) Income tax benefit (13 ) (11 ) Accumulated other comprehensive loss $ (39 ) $ (31 ) Recent Accounting Pronouncements. January 2020, 2020 01, Investments Equity Securities (Topic 321 323 815 2020 01 2020 01 321, 323, 815. 2020 01 first 2022. In December 2019, 2019 12, Income Taxes (Topic 740 2019 12 740. 2019 12 first 2022. Adoption of Accounting Standard January 1, 2020, 2016 13, Financial Instruments-Credit Losses 326 Measurement of Credit Losses 120 120 2016 13 not In addition to the accounting standards described above, certain amounts in the consolidated balance sheets and consolidated statements of cash flows have also been reclassified to conform to the current presentation.

Note 2 - Revenue

Note 2 - Revenue	12 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Revenue from Contract with Customer [Text Block]	2 . Revenue Revenue Recognition . Advertising Revenue. 30 We broadcast the customer’s advertisement either preceding or following a television station’s network programming and within local and syndicated programming. Broadcast advertising is sold in time increments and is priced primarily on the basis of a program’s popularity among the specific audience an advertiser desires to reach. In addition, broadcast advertising rates are affected by the number of advertisers competing for the available time, the size and demographic makeup of the market served by the station and the availability of alternative advertising media in the market area. Broadcast advertising rates are generally the highest during the most desirable viewing hours, with corresponding reductions during other hours. The ratings of a local station affiliated with a major network can be affected by ratings of network programming. Internet advertising is placed on our stations’ websites and mobile applications. These advertisements may We generate advertising revenue either by the efforts of our direct sales employees or through third Retransmission Consent Revenue. three 30 Subscriber data necessary to calculate the amount of retransmission consent revenue to be recognized for the current month is not not not Production Company Revenue. Other Revenues. one Expedients. one one The nature of our contracts with advertising customers is such that our performance obligations arise and are satisfied concurrent with the broadcast or web placement of the advertisement. We did not We record a deposit liability for cash deposits received from our customers that are to be applied as payment once the performance obligation arises and is satisfied in the manner stated above. These deposits are recorded as deposit liabilities on our balance sheet. When we invoice our customers for completed performance obligations, we are unconditionally entitled to receive payment of the invoiced amounts. Therefore, we record invoiced amounts in accounts receivable on our balance sheet. We require amounts payable under advertising contracts with our political advertising customers to be paid for in advance. We record the receipt of this cash as a deposit liability. Once the advertisement has been broadcast, the revenue is earned, and we record the revenue and reduce the balance in this deposit liability account. We recorded $9 million of revenue in the year ended December 31, 2020 December 31, 2019. December 31, 2020 2019, Disaggregation of Revenue . Year Ended December 31, 2020 2019 2018 Market and service type: Advertising: Local $ 771 $ 898 $ 443 National 198 229 114 Political 430 68 155 Total advertising 1,399 1,195 712 Retransmission consent 867 796 355 Production companies 61 87 - Other 54 44 17 Total revenue $ 2,381 $ 2,122 $ 1,084 Sales channel: Direct $ 1,302 $ 1,270 $ 552 Advertising agency intermediary 1,079 852 532 Total revenue $ 2,381 $ 2,122 $ 1,084

Note 3 - Acquisitions and Dives

Note 3 - Acquisitions and Divestitures	12 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Mergers, Acquisitions and Dispositions Disclosures [Text Block]	3 . A cquisitions and Di vestiture s During 2020, 2019 2018, third 2020 Alaska Transactions. July 31, 2020, 148 207, Columbus Transactions. September 1, 2020, 129 Sioux Falls Transactions November 2, 2020, one 115 Lubbock Transactions December 31, 2020, 142 two December 31, 2020, December 31, 2020, The following table summarizes the preliminary values of the assets acquired and resulting goodwill of the Alaska Transactions, Columbus Transactions and the Sioux Falls Transactions (in millions): 2020 Acquisitions Alaska Columbus Sioux Falls Total Accounts receivable and other current assets $ 1 $ - $ - $ 1 Property and equipment 5 2 - 7 Goodwill 2 1 11 14 Broadcast licenses 2 - - 2 Other intangible assets 9 19 11 39 Total $ 19 $ 22 $ 22 $ 63 These amounts are based upon management’s preliminary estimate of the fair values using valuation techniques including income, cost and market approaches. In determining the preliminary fair value of the acquired assets and assumed liabilities, the fair values were determined based on, among other factors, expected future revenue and cash flows, expected future growth rates, and estimated discount rates. Property and equipment are recorded at their fair value and are being depreciated over their estimated useful lives ranging from three Amounts related to other intangible assets are being amortized over their estimated useful lives of approximately 1 to 4 years. Goodwill is calculated as the excess of the consideration transferred over the fair value of the identifiable net assets acquired and liabilities assumed, and represents the future economic benefits expected to arise from other intangible assets acquired that do not The Company’s consolidated results of operations for year ended December 31, 2020 2020 not In addition, we acquired broadcast licenses totaling approximately $5 million that did not “Transaction Related Expenses” incurred in connection with the 2020 December 31, 2020, 2019 Divestitures . Raycom Merger. January 2, 2019, nine nine The Raycom Merger completed our transformation from a small, regional broadcaster to a leading media company with nationwide scale based on high-quality stations with exceptional talent in attractive markets. The following table lists the stations acquired and retained, net of divestitures: Current Station DMA Call Network Rank DMA Letters Affiliation 15 Tampa-St. Petersburg (Sarasota), FL WWSB ABC 19 Cleveland/Akron (Canton) WOIO CBS 19 Cleveland/Akron (Canton) WUAB CW 23 Charlotte, NC WBTV CBS 41 West Palm Beach/Ft. Pierce, FL WFLX FOX 34 Cincinnati, OH WXIX FOX 50 Birmingham (Anniston and Tuscaloosa), AL WBRC FOX 49 Louisville, KY WAVE NBC 51 New Orleans, LA WVUE FOX 52 Memphis, TN WMC NBC 54 Richmond/Petersburg, VA WWBT NBC 54 Richmond/Petersburg, VA WUPV CW 75 Tucson/Nogales, AZ KOLD CBS 66 Honolulu, HI KHNL NBC 66 Honolulu, HI KGMB CBS 66 Honolulu, HI KHBC NBC/CBS 66 Honolulu, HI KOGG NBC/CBS 79 Columbia, SC WIS NBC 81 Huntsville/Decatur/Florence, AL WAFF NBC 91 Paducah, KY/Cape Girardeau, MO/ Harrisburg, IL KFVS CBS 96 Shreveport, LA KSLA CBS 87 Savannah, GA WTOC CBS 88 Charleston, SC WCSC CBS 93 Baton Rouge, LA WAFB CBS 93 Baton Rouge, LA WBXH MY 97 Jackson, MS WLBT NBC 89 Myrtle Beach/Florence, SC WMBF NBC 106 Boise, ID KNIN FOX 107 Evansville, IN WFIE NBC 112 Tyler/Longview, TX KLTV ABC 112 Tyler/Longview, TX KTRE ABC 119 Montgomery, AL WSFA NBC 124 Wilmington, NC WECT NBC 129 Columbus, GA/Opelika, AL WTVM ABC 137 Amarillo, TX KFDA CBS 137 Amarillo, TX KEYU TEL 142 Lubbock, TX KCBD NBC 150 Odessa/Midland, TX KWAB CW 150 Odessa/Midland, TX KTLE TEL 154 Wichita Falls, TX/Lawton, OK KSWO ABC 154 Wichita Falls, TX/Lawton, OK KKTM TEL 161 Albany, GA WALB NBC/ABC 153 Biloxi/Gulfport, MS WLOX ABC/CBS 168 Hattiesburg/Laurel, MS WDAM NBC/ABC 183 Jonesboro, AR KAIT ABC/NBC 201 Ottumwa, IA/Kirksville, MO KYOU FOX/NBC On January 2, 2019, eight Total Cash Station Current Consideration Call DMA Purchaser Received Letters DMA Rank Lockwood Broadcasting, Inc. $ 67 WTNZ Knoxville, TN 60 WFXG Augusta, GA 111 WPGX Panama City, FL 139 WDFX Dothan, AL 175 Scripps Media, Inc. 55 KXXV Waco/Temple/Bryan, TX 95 KRHD Waco/Temple/Bryan, TX 95 WTXL Tallahassee, FL 113 TEGNA, Inc. 109 WTOL Toledo, OH 78 KWES Odessa/Midland, TX 150 Total $ 231 The allocated portion of net consideration paid for the assets and liabilities divested for the stations in these eight The net consideration paid to acquire Raycom consisted of $2.84 billion of cash, 11.5 million shares of our common stock, valued at $170 million (a non-cash financing transaction), and $650 million of a new series of preferred stock (a non-cash financing transaction), for a total of $3.66 billion. Please refer to Note 6 7 two KYOU and Net Raycom WUPV Consideration Purchase Price $ 3,660 $ 17 $ 3,677 Less - consideration allocated to all assets acquired and net of liabilities assumed for the Raycom overlap market stations which were also divested on January 2, 2019 (234 ) - (234 ) Purchase consideration for assets acquired and liabilities assumed net of divestitures $ 3,426 $ 17 $ 3,443 United Acquisition. May 1, 2019, 174 198 March 1, 2019 91 93. Sioux Falls Acquisition. September 25, 2019, 115 Charlottesville Acquisition and Divestiture October 1, 2019, 189 October 1, 2019, The following table summarizes the values of the assets acquired, liabilities assumed and resulting goodwill of the Raycom Merger, the United Acquisition, The Sioux Falls Acquisition and the Charlottesville Acquisition (together, the “2019 2019 Acquisitions Raycom United Sioux Falls Charlottesville Total Cash $ 115 $ - $ - $ - $ 115 Accounts receivable, net 243 3 1 1 248 Program broadcast rights 12 - - - 12 Other current assets 10 - - - 10 Property and equipment 311 10 10 7 338 Operating lease right of use asset 52 - - - 52 Goodwill 829 3 2 - 834 Broadcast licenses 2,004 24 14 2 2,044 Other intangible assets 504 8 7 3 522 Other non-current assets 20 - - - 20 Employee compensation and benefits (29 ) - - - (29 ) Program broadcast obligations (16 ) - - - (16 ) Other current liabilities (60 ) - (1 ) - (61 ) Federal and state income taxes payable (3 ) - - - (3 ) Deferred income taxes (472 ) - - - (472 ) Operating lease liabilities (52 ) - - - (52 ) Other long-term liabilities (25 ) - - - (25 ) Total $ 3,443 $ 48 $ 33 $ 13 $ 3,537 These amounts are based upon management’s estimate of the fair values using valuation techniques including income, cost and market approaches. In determining the fair value of the acquired assets and assumed liabilities, the fair values were determined based on, among other factors, expected future revenue and cash flows, expected future growth rates, and estimated discount rates. Accounts receivable are recorded at their fair value representing the amount we expect to collect. Gross contractual amounts receivable are approximately $2 million more than their recorded fair value. Property and equipment are recorded at their fair value and are being depreciated over their estimated useful lives ranging from three Amounts related to other intangible assets represent primarily the estimated fair values of retransmission agreements of $322 million, shared services agreements of $98 million, and network affiliation agreements of $50 million. These intangible assets are being amortized over their estimated useful lives of approximately 4.1 years for retransmission agreements, approximately 7.7 years for shared services agreements, and approximately 3.7 years for network affiliation agreements. Goodwill is calculated as the excess of the consideration transferred over the fair value of the identifiable net assets acquired and liabilities assumed, and represents the future economic benefits expected to arise from other intangible assets acquired that do not not The Company’s consolidated results of operations for year ended December 31, 2019 January 2, 2019, March 1, 2019, September 25, 2019, October 1, 2019. 2019 December 31, 2019 2019 December 31, 2019 The following table summarizes the approximate Transaction Related Expenses incurred in connection with the 2019 December 31, 2019, Year Ended December 31, 2019 Transaction Related Expenses by type: Legal, consulting and other professional fees $ 24 Incentive compensation and other severance costs 21 Termination of sales representation and other agreements 34 Total Transaction Related Expenses $ 79 Transaction Related Expenses by financial statement line item: Operating expenses before depreciation, amortization and loss (gain) on disposal of assets, net: Broadcasting $ 45 Corporate and administrative 34 Total Transaction Related Expenses $ 79 Unaudited Pro Forma Financial Information – 2019 . December 31, 2019 2019 January 1, 2019 Year Ended December 31, 2019 Revenue (less agency commissions) $ 2,139 Net income $ 241 Net income attributable to common stockholders $ 189 Basic net income attributable to common stockholders, per share $ 2.43 Diluted net income attributable to common stockholders, per share $ 2.41 This pro forma financial information is based on Gray’s historical results of operations and the historical results of operations of the television stations acquired, net of divestitures, included in the 2019 not 2019 January 1, 2019 December 31, 2019 2018 December 31, 2018, 161 fourth 2018.

Note 4 - Long-term Debt

Note 4 - Long-term Debt	12 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Debt Disclosure [Text Block]	4. As of December 31, 2020, 2019 2026 “2026 2027 “2027 2030 “2030 December 31, 2019, 2017 2024 “2024 2026 2027 December 31, 2020 2019 Long-term debt including current portion: 2017 Term Loan $ 595 $ 595 2019 Term Loan 1,190 1,190 2024 Notes - 525 2026 Notes 700 700 2027 Notes 750 750 2030 Notes 800 - Total outstanding principal 4,035 3,760 Unamortized deferred loan costs - 2019 Term Loan (34 ) (44 ) Unamortized deferred loan costs - 2024 Notes - (5 ) Unamortized deferred loan costs - 2026 Notes (6 ) (7 ) Unamortized deferred loan costs - 2027 Notes (10 ) (11 ) Unamortized deferred loan costs - 2030 Notes (14 ) - Unamortized premium - 2026 Notes 3 4 Long-term debt, less deferred financing costs $ 3,974 $ 3,697 Borrowing availability under Revolving Credit Facility $ 200 $ 200 Borrowings under the 2019 2017 December 31, 2020, 2019 2017 2.4%, 2019 2017 January 2, 2026 February 7, 2024, On October 19, 2020, 2030 2024 2024 2030 2030 2027 2026 2030 October 15, 2030. April 15 October 15 As of December 31, 2020, Minimum Principal Maturities 2019 Senior 2026 2027 2030 Year Credit Facility Notes Notes Notes Total 2021 $ - $ - $ - $ - $ - 2022 - - - - - 2023 - - - - - 2024 595 - - - 595 2025 - - - - - Thereafter 1,190 700 750 800 3,440 Total $ 1,785 $ 700 $ 750 $ 800 $ 4,035 Collateral, Covenants and Restrictions. 2019 2019 no 2026 2027 2030 not 2026 2027 2030 not December 31, 2020, no The 2019 2026 2027 2030 December 31, 2020 2019, Interest Payments . 2020, 2019 2018, not Amendments February 19, 2021, 2019 2019 16

Note 5 - Fair Value Measurement

Note 5 - Fair Value Measurement	12 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Fair Value Disclosures [Text Block]	5. We measure certain assets and liabilities at fair value, which are classified by the FASB Codification within the fair value hierarchy as level 1, 2, 3, ● Level 1: ● Level 2: not ● Level 3: one Fair value is defined as the price that would be received to sell an asset, or paid to transfer a liability, in an orderly transaction between market participants at the measurement date. The use of different market assumptions or methodologies could have a material effect on the fair value The carrying amounts of accounts receivable, prepaid and other current assets, accounts payable, employee compensation and benefits, accrued interest, other accrued expenses, and deferred revenue approximate fair value at both December 31, 2020 2019. As of December 31, 2020, December 31, 2019, third 2.

Note 6 - Stockholders' Equity

Note 6 - Stockholders' Equity	12 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Stockholders' Equity Note Disclosure [Text Block]	6. We are authorized to issue 245 million shares of all classes of stock, of which 25 million shares are designated Class A common stock, 200 million shares are designated common stock, and 20 million shares are designated “blank check” preferred stock for which our Board of Directors has the authority to determine the rights, powers, limitations and restrictions. The rights of our common stock and Class A common stock are identical, except that our Class A common stock has 10 votes per share and our common stock has one vote per share. Our common stock and Class A common stock are entitled to receive cash dividends if declared, on an equal per-share basis. For the years ended December 31, 2020, 2019 2018, not On January 2, 2019, On November 5, 2019, December 31, 2022 ( “2019 2019 “401k On December 15, 2019, “2019 10b 18 10b5 1 1934. 2019 2020, 2019 second 2020. Subsequent to the termination of the 2019 December 31, 2020, 2019 On November 4, 2020, December 31, 2023 ( “2020 2020, December 31, 2020, 2020 Together, the capacity under our repurchase authorizations totals $204 million. Future share repurchases would be implemented through purchases made from time to time in either the open market or private transactions in accordance with applicable securities law requirements, including Rule 10b5 1. not may Under our various employee benefit plans, we may, December 31, 2020, December 31, 2019,

Note 7 - Preferred Stock

Note 7 - Preferred Stock	12 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Preferred Stock [Text Block]	7. In connection with the Raycom Merger, on January 2, 2019, two With respect to the payment of dividends, the Series A Preferred Stock will rank senior to all classes and series of our common stock and all other equity securities designated as ranking junior to the Series A Preferred Stock, and no All or any portion of the outstanding Series A Preferred Stock may 30 not 60 The Series A Preferred Stock is also subject to mandatory redemption upon the occurrence of certain change of control transactions or upon the sale or other disposition of all or substantially all of our assets. The holders of Series A Preferred Stock do not In general, the holders of the Series A Preferred Stock do not one The approval of the holders of the Series A Preferred Stock, voting separately as a class, is required in order to authorize, create or issue new shares of Series A Perpetual Preferred stock (other than to pay dividends), or alter the rights of any other shares that are or would be equal to or senior to the Series A Preferred Stock, or to amend, alter or repeal the Company’s Restated Articles of Incorporation as amended from time to time if such amendment, alteration or repeal adversely affects the powers, preferences or special rights of the Series A Preferred Stock. The Series A Preferred Stock does not In the event that the Company voluntarily or involuntarily liquidates, dissolves or winds up its affairs, holders of Series A Preferred Stock will be entitled to receive for each share of Series A Preferred Stock, out of the Company’s assets or proceeds thereof available for distribution to shareholders, subject to the rights of any creditors, payment in full in an amount equal to the liquidation value and the per-share amount of any unpaid dividends for the current quarterly dividend period. Holders of Series A Preferred Stock would be entitled to receive this amount before any distribution of assets or proceeds to holders of our common stock and any other stock whose rights are junior to the Series A Preferred Stock. If in any distribution described above, our assets are not not

Note 8 - Stock-based Compensati

Note 8 - Stock-based Compensation	12 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Share-based Payment Arrangement [Text Block]	8 . Stock-Based Compensation We recognize compensation expense for stock-based payment awards made to our employees, consultants and directors. Our active stock-based compensation plans include the 2017 “2017 December 31, 2020, 2019 2018 Year Ended December 31, 2020 2019 2018 Stock-based compensation expense, gross $ 16 $ 16 $ 7 Income tax benefit at our statutory rate associated with stock-based compensation (4 ) (4 ) (2 ) Stock-based compensation expense, net $ 12 $ 12 $ 5 Currently, the 2017 2017 During 2020, 2017 ● 78,722 shares of restricted common stock with a grant date fair value of $11.56 to our non-employee directors that will vest on April 30, 2021; ● 83,407 shares of restricted Class A common stock with a grant date fair value per share of $19.87 to an employee, of which 27,802 shares vested on January 31, 2021 January 31, 2022 January 31, 2023; ● 83,407 shares of restricted Class A common stock with a grant date fair value per share of $19.87 to an employee, subject to the achievement of certain performance measures, which will vest on January 31, 2023; ● 207,787 shares of restricted common stock with a grant date fair value per share of $21.69 to certain employees, of which 69,262 shares vested on January 31, 2021, January 31, 2022 January 31, 2023; ● 40,756 shares of restricted common stock with a grant date fair value per share of $21.69 to an employee, subject to the achievement of certain performance measures, which will vest on January 31, 2023; ● Restricted stock units representing 90,184 shares of our common stock with a grant date fair value per share of $18.92 to certain employees, of which 60,052 shares will vest on March 1, 2021; March 1, 2022 2023; ● Restricted stock units representing 3,000 shares of our common stock with a grant date fair value per share of $14.30 to an employee, which vested on June 1, 2020; ● 32,216 shares of restricted common stock with a grant date fair value per share of $15.52 to an employee that will vest on September 1, 2021. During 2019, 2017 ● 99,905 shares of restricted class A common stock with a grant date fair value per share of $15.36 to an employee, of which 33,302 shares vested on each of January 31, 2020 January 31, 2021 January 31, 2022; ● 99,905 shares of restricted class A common stock with a grant date fair value per share of $15.36 to an employee, subject to the achievement of certain performance measures, which will vest on January 31, 2022; ● 340,993 shares of restricted common stock with a grant date fair value per share of $14.85 to certain employees that vested on January 2, 2021; ● 277,048 shares of restricted common stock with a grant date fair value of $16.55 to certain employees, of which 92,349 shares vested on each of January 31, 2020 January 31, 2021 January 31, 2022; ● 48,338 shares of restricted common stock with a grant date fair value per share of $16.55 to an employee, subject to the achievement of certain performance measures, which will vest on January 31, 2022; ● 11,223 shares of restricted common stock with a grant date fair value per share of $17.83 to an employee that vested on February 15, 2020; ● 41,181 shares of restricted common stock with a grant date fair value of $22.10 to our non-employee directors that vested on April 30, 2020; ● 32,680 shares of restricted common stock with a grant date fair value per share of $15.92 to an employee that vested on September 1, 2020; ● Restricted stock units representing 398,000 shares of our common stock with a grant date fair value of $18.21 that vested on June 1, 2020. During 2018, 2017 ● 110,040 shares of restricted Class A common stock with a grant date fair value per share of $12.65 to an employee, of which 36,680 shares vested on each of February 28, 2019 February 28, 2020 February 28, 2021; ● 110,040 shares of restricted Class A common stock with a grant date fair value per share of $12.65 to an employee, subject to the achievement of certain performance measures, which will vest on February 28, 2021; ● 318,196 shares of restricted common stock with a grant date fair value per share of $15.25 to certain employees; net of forfeitures, 131,106 shares vested on February 28, 2019; February 28, 2020; February 28, 2021; ● 73,640 shares of restricted common stock with a grant date fair value per share of $11.95 to our non-employee directors, all of which vested on May 31, 2019. As of December 31, 2020, 2017 December 31, 2020, A summary of activity for the years ended December 31, 2020, 2019 2018 Year Ended December 31, 2020 2019 2018 Weighted- Weighted- Weighted- Average Average Average Number Grant Date Number Grant Date Number Grant Date of Fair Value of Fair Value of Fair Value Shares Per Share Shares Per Share Shares Per Share Restricted stock - common: Outstanding - beginning of period 977,547 $ 15.45 578,894 $ 13.14 503,685 $ 11.14 Granted 359,481 18.92 751,463 16.07 391,836 14.63 Vested (333,865 ) 15.35 (352,810 ) 12.98 (225,570 ) 11.21 Forfeited (85,630 ) 15.53 - - (91,057 ) 13.27 Outstanding - end of period 917,533 $ 16.84 977,547 $ 15.45 578,894 $ 13.14 Restricted stock - Class A common: Outstanding - beginning of period 449,284 $ 13.55 407,786 $ 11.82 462,632 $ 10.63 Granted 166,814 19.87 199,810 15.36 220,080 12.65 Vested (136,056 ) 12.32 (158,312 ) 11.38 (274,926 ) 10.48 Outstanding - end of period 480,042 $ 16.10 449,284 $ 13.55 407,786 $ 11.82 Restricted stock units - common: Outstanding - beginning of period 398,000 $ 18.21 - $ - 209,500 $ 15.70 Granted 93,184 18.77 398,000 18.21 - - Vested (374,500 ) 18.18 - - (209,500 ) 15.70 Forfeited (26,500 ) 18.21 - - - - Outstanding - end of period 90,184 $ 18.92 398,000 $ 18.21 - $ -

Note 9 - Leases

Note 9 - Leases	12 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Leases, Lessee Disclosure [Text Block]	9 . Leases Operating Leases. one one not 10 We lease land, buildings, transmission towers, right of way easements, and equipment through operating leases. We generally lease land for the purpose of erecting transmission towers for our broadcast operations. Our building leases consist of office space and broadcast studios. For transmission towers we do not third We allocate consideration paid in the contract to lease and non-lease components based upon the contract or associated invoice received if applicable. Lease components include base rent, fixed rate escalators and in-substance fixed payments associated with the leased asset. Non-lease components include common area maintenance and operating expenses associated with the leased asset. We have not Variable lease payments are not 842. 842 842 We recognize leases with an initial term of 12 Our operating lease expenses, including variable leases, were $13 million and $11 million for the years ended December 31, 2020 2019, December 31, 2020 2019, December 31, 2020 2019. December 31, 2020 December 31, 2020, The maturities of operating lease liabilities were as follows (in millions): Year: 2021 $ 11 2022 10 2023 8 2024 7 2025 7 Thereafter 41 Total lease payments 84 Less: Imputed interest (26 ) Present value of lease liabilities $ 58

Note 10 - Income Taxes

Note 10 - Income Taxes	12 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Income Tax Disclosure [Text Block]	10 . Income Taxes We recognize deferred tax assets and liabilities for future tax consequences attributable to differences between our financial statement carrying amounts of existing assets and liabilities and their respective tax bases. We measure deferred tax assets and liabilities using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to reverse. We recognize the effect on deferred tax assets and liabilities resulting from a change in tax rates in income in the period that includes the date of the change. Under certain circumstances, we recognize liabilities in our financial statements for positions taken on uncertain tax issues. may not not not 50% Federal and state and local income tax expense is summarized as follows (in millions): Year Ended December 31, 2020 2019 2018 Current: Federal $ 39 $ 8 $ 43 State and local 20 13 11 Current income tax expense 59 21 54 Deferred: Federal 64 54 17 State and local 11 1 6 Deferred income tax expense 75 55 23 Total income tax expense $ 134 $ 76 $ 77 Significant components of our deferred tax liabilities and assets are as follows (in millions): December 31, 2020 2019 Deferred tax liabilities: Net book value of property and equipment $ 92 $ 83 Broadcast licenses, goodwill and other intangible assets 878 869 Total deferred tax liabilities 970 952 Deferred tax assets: Liability for accrued vacation 4 3 Liability for accrued bonus 5 7 Deferred payroll taxes 3 - Allowance for credit losses 3 3 Liability for pension plan 11 10 Federal operating loss carryforwards 38 87 State and local operating loss carryforwards 21 31 Acquisition costs 2 2 Restricted stock 4 4 Investments 4 4 Interest expense limitation 4 4 Other 1 1 Total deferred tax assets 100 156 Valuation allowance for deferred tax assets (15 ) (14 ) Net deferred tax assets 85 142 Deferred tax liabilities, net of deferred tax assets $ 885 $ 810 As of December 31, 2020, 2023 2037. not A reconciliation of income tax expense at the statutory federal income tax rate and income taxes as reflected in the consolidated financial statements for the years ended December 31, 2020, 2019 2018 Year Ended December 31, 2020 2019 2018 Statutory federal rate applied to income before income tax expense $ 114 $ 53 $ 60 Current year permanent items 3 13 3 State and local taxes, net of federal tax benefit 27 13 14 Change in valuation allowance 1 (2 ) - Net operating loss carryback (7 ) - - Other items, net (4 ) (1 ) - Income tax expense as recorded $ 134 $ 76 $ 77 Effective income tax rate 25 % 30 % 27 % As of each year end, we are required to adjust our pension liability to an amount equal to the funded status of our pension plans with a corresponding adjustment to other comprehensive income on a net of tax basis. During 2020, 2019, 2018, We made income tax payments (net of refunds) of $70 million, $23 million and $34 million, during the years ended December 31, 2020, 2019 2018, We prescribe a recognition threshold and measurement attribution for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. For benefits to be recognized, a tax position must be more likely than not As of December 31, 2020, December 31, 2020, no twelve On March 27, 2020, 19 2019 2020, 100% 2021. 2018, 2019, 2020 five may not We file income tax returns in the United States federal and multiple state jurisdictions. We have net operating losses (historic and acquired, through recent business combinations) that extend our open adjustment period related to federal and state tax audits from 2000 2018.

Note 11 - Retirement Plans

Note 11 - Retirement Plans	12 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Retirement Benefits [Text Block]	11. We sponsor and contribute to defined benefit and defined contribution retirement plans. Our defined benefit pension plan is the Gray Television, Inc. Retirement Plan (“Gray Pension Plan”). Benefits under the Gray Pension Plan are frozen and can no no The Gray Pension Plan’s funding policy is consistent with the funding requirements of existing federal laws and regulations under the Employee Retirement Income Security Act of 1974. December 31, 2020 2019, December 31, 2020 2019, December 31, 2020 2019 Change in projected benefit obligation: Projected benefit obligation at beginning of year $ 135 $ 117 Interest cost 4 5 Actuarial loss 16 17 Benefits paid (4 ) (4 ) Projected benefit obligation at end of year $ 151 $ 135 Change in plan assets: Fair value of pension plan assets at beginning of year $ 97 $ 84 Actual return on plan assets 12 14 Company contributions 3 3 Benefits paid (4 ) (4 ) Fair value of pension plan assets at end of year 108 97 Funded status of pension plan $ (43 ) $ (38 ) Amounts recognized on our balance sheets consist of: Accrued benefit cost $ 10 $ 5 Accumulated other comprehensive loss (53 ) (43 ) Net liability recognized $ (43 ) $ (38 ) Because the Gray Pension Plan is a frozen plan, the projected benefit obligation and the accumulated benefit obligation are the same. The accumulated benefit obligation was $151 million and $135 million at December 31, 2020 2019, not Year Ended December 31, 2020 2019 Weighted-average assumptions used to determine net periodic benefit cost for the Gray Pension Plan: Discount rate 3.14 % 4.16 % Expected long-term rate of return on pension plan assets 6.50 % 6.50 % Estimated rate of increase in compensation levels N/A N/A As of December 31, 2020 2019 Weighted-average assumptions used to determine benefit obligations: Discount rate 2.38 % 3.14 % Pension expense is computed using the projected unit credit actuarial cost method. The net periodic pension cost for the Gray Pension Plan includes the following components (in millions): Year Ended December 31, 2020 2019 2018 Components of net periodic pension cost: Interest cost $ 4 $ 5 $ 5 Expected return on plan assets (6 ) (5 ) (6 ) Recognized net actuarial loss 1 - - Net periodic pension benefit $ (1 ) $ - $ (1 ) For the Gray Pension Plan, the estimated future benefit payments are as follows (in millions): Years Amount 2021 $ 4 2022 4 2023 5 2024 5 2025 5 2026 - 2030 31 The Gray Pension Plan’s weighted-average asset allocations by asset category were as follows: As of December 31, 2020 2019 Asset category: Insurance general account 15 % 17 % Cash management accounts 3 % 2 % Equity accounts 48 % 47 % Fixed income accounts 32 % 32 % Real estate accounts 2 % 2 % Total 100 % 100 % The investment objective is to achieve a consistent total rate of return (income, appreciation, and reinvested funds) that will equal or exceed the actuarial assumption with aversion to significant volatility. The following is the target asset allocation: Target Range Asset class: Strategic Allocation Lower Limit Upper Limit Equities: Large cap value 5 % 0 % 50 % Large cap blend 5 % 0 % 50 % Large cap growth 5 % 0 % 50 % Mid cap blend 15 % 0 % 40 % Small cap core 5 % 0 % 25 % Foreign large blend 10 % 0 % 40 % Emerging markets 10 % 0 % 25 % Real estate 5 % 0 % 20 % Fixed Income: U.S. Treasury inflation protected 5 % 0 % 25 % Intermediate term bond 10 % 0 % 50 % Long term government bond 5 % 0 % 40 % High yield bond 10 % 0 % 25 % Emerging markets bond 10 % 0 % 20 % Money market taxable 0 % 0 % 100 % Our equity portfolio contains securities of companies necessary to build a diversified portfolio, and that we believe are financially sound. Our fixed income portfolio contains obligations generally rated A or better with no Fair Value of Gray Pension Plan Assets . 820, 5 The following table presents the fair value of the Gray Pension Plan’s assets and classifies them by level within the fair value hierarchy as of December 31, 2020 2019 As of December 31, 2020 Level 1 Level 2 Level 3 Total Assets: Insurance general account $ - $ 16 $ - $ 16 Cash management accounts 3 - - 3 Equity accounts 52 - - 52 Fixed income accounts 35 - - 35 Real estate accounts 2 - - 2 Total $ 92 $ 16 $ - $ 108 As of December 31, 2019 Level 1 Level 2 Level 3 Total Assets: Insurance general account $ - $ 16 $ - $ 16 Cash management accounts 2 - - 2 Equity accounts 46 - - 46 Fixed income account 31 - - 31 Real estate accounts 2 - - 2 Total $ 81 $ 16 $ - $ 97 Expected Pension Contributions . December 31, 2021. Capital Accumulation Plan . 401 2020, first December 31, 2020, 2019 2018, 2021 In addition, the Company, at its discretion, may December 31, 2020, 2019 2018, may December 31, 2020,

Note 12 - Commitments and Conti

Note 12 - Commitments and Contingencies	12 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	12. From time to time we may may December 31, 2020, Service and Syndicated Network Other Television Affiliation Year Agreements Programming Agreements Total 2021 $ 20 $ 10 $ 435 $ 465 2022 16 28 224 268 2023 14 18 229 261 2024 11 1 - 12 2025 11 - - 11 Thereafter 11 - - 11 Total $ 83 $ 57 $ 888 $ 1,028 Legal Proceedings and Claims . not

Note 13 - Goodwill and Intangib

Note 13 - Goodwill and Intangible Assets	12 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Goodwill and Intangible Assets Disclosure [Text Block]	1 3 . Goodwill and Intangible Assets During the years ended December 31, 2020 2019, 3 Net Balance at Acquisitions Net Balance at December 31, And December 31, 2019 Adjustments Impairment Amortization 2020 Goodwill $ 1,446 $ 14 $ - $ - $ 1,460 Broadcast licenses 3,573 6 - - 3,579 Finite-lived intangible assets 460 40 - (105 ) 395 Total intangible assets net of accumulated amortization $ 5,479 $ 60 $ - $ (105 ) $ 5,434 Net Balance at Acquisitions Net Balance at December 31, And December 31, 2018 Adjustments Impairment Amortization 2019 Goodwill $ 612 $ 834 $ - $ - $ 1,446 Broadcast licenses 1,530 2,043 - - 3,573 Finite-lived intangible assets 53 522 - (115 ) 460 Total intangible assets net of accumulated amortization $ 2,195 $ 3,399 $ - $ (115 ) $ 5,479 As of Acquisitions December 31, And As of 2019 Adjustments Impairment December 31, 2020 Goodwill, gross $ 1,545 $ 14 $ - $ 1,559 Accumulated goodwill impairment (99 ) - - (99 ) Goodwill, net $ 1,446 $ 14 $ - $ 1,460 As of Acquisitions December 31, And As of 2018 Adjustments Impairment December 31, 2019 Goodwill, gross $ 711 $ 834 $ - $ 1,545 Accumulated goodwill impairment (99 ) - - (99 ) Goodwill, net $ 612 $ 834 $ - $ 1,446 The following table presents a summary of our intangible assets and related accumulated amortization (in millions): As of December 31, 2020 As of December 31, 2019 Accumulated Accumulated Gross Amortization Net Gross Amortization Net Intangible assets not currently subject to amortization: Broadcast licenses $ 3,633 $ (54 ) $ 3,579 $ 3,627 $ (54 ) $ 3,573 Goodwill 1,460 - 1,460 1,446 - 1,446 $ 5,093 $ (54 ) $ 5,039 $ 5,073 $ (54 ) $ 5,019 Intangible assets subject to amortization: Network affiliation agreements $ 67 $ (28 ) $ 39 $ 56 $ (17 ) $ 39 Other finite-lived intangible assets 644 (288 ) 356 615 (194 ) 421 $ 711 $ (316 ) $ 395 $ 671 $ (211 ) $ 460 Total intangible assets $ 5,804 $ (370 ) $ 5,434 $ 5,744 $ (265 ) $ 5,479 Based on our intangible assets subject to amortization as of December 31, 2020, five 2021, 2022, 2023, 2024, 2025, may Impairment of goodwill and broadcast license . December 31, 2020 2019, not 2020, 2019 2018. In the first 2020, 19 first 2020, not not not may See Note 1

Note 14 - Segment Information

Note 14 - Segment Information	12 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Segment Reporting Disclosure [Text Block]	1 4 . Segment I nformation During the years ended December 31, 2020 2019, two December 31, 2018 one Production As of and for the Year ended December 31, 2020: Broadcasting Companies Other Consolidated Revenue (less agency commissions) $ 2,320 $ 61 $ - $ 2,381 Operating expenses before depreciation, amortization and (gain) loss on disposal of assets, net: 1,340 52 65 1,457 Depreciation and amortization 186 12 3 201 (Gain) loss on disposal of assets, net (31 ) 2 - (29 ) Total operating expenses 1,495 66 68 1,629 Operating income $ 825 $ (5 ) $ (68 ) $ 752 Interest expense $ - $ - $ 191 $ 191 Capital expenditures (excluding business combinations) $ 106 $ 4 $ - $ 110 Goodwill $ 1,419 $ 41 $ - $ 1,460 Total assets $ 6,631 $ 141 $ 871 $ 7,643 As of and for the Year ended December 31, 2019: Revenue (less agency commissions) $ 2,035 $ 87 $ - $ 2,122 Operating expenses before depreciation, amortization and gain on disposal of assets, net: 1,325 74 104 1,503 Depreciation and amortization 180 13 2 195 Gain on disposal of assets, net (54 ) - - (54 ) Total operating expenses 1,451 87 106 1,644 Operating income $ 584 $ - $ (106 ) $ 478 Interest expense $ - $ - $ 227 $ 227 Capital expenditures (excluding business combinations) $ 104 $ 1 $ 5 $ 110 Goodwill $ 1,405 $ 41 $ - $ 1,446 Total assets $ 6,530 $ 153 $ 289 $ 6,972 As of and for the Year ended December 31, 2018: Revenue (less agency commissions) $ 1,084 $ - $ - $ 1,084 Operating expenses before depreciation, amortization and gain on disposal of assets, net: 596 - 41 637 Depreciation and amortization 74 - 1 75 Gain on disposal of assets, net (17 ) - - (17 ) Operating expenses 653 - 42 695 Operating income $ 431 $ - $ (42 ) $ 389 Interest expense $ - $ - $ 107 $ 107 Capital expenditures (excluding business combinations) $ 68 $ - $ 2 $ 70 Goodwill $ 612 $ - $ - $ 612 Total assets $ 2,763 $ - $ 1,450 $ 4,213

Note 15 - Selected Quarterly Fi

Note 15 - Selected Quarterly Financial Data (Unaudited)	12 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Quarterly Financial Information [Text Block]	1 5 . Selected Quarterly Financial Data (Unaudited) The following table summarizes our unaudited results of operations on a quarterly basis. The quarterly earnings per share amounts for a year will not Fiscal Quarter First Second Third Fourth (In millions, except for per share data) Year Ended December 31, 2020: Revenue (less agency commissions) $ 534 $ 451 $ 604 $ 792 Operating income 124 65 212 351 Net income (loss) attributable to common stockholders 40 (2 ) 109 211 Basic net income (loss) attributable to common stockholders per share $ 0.41 $ (0.02 ) $ 1.15 $ 2.24 Diluted net income (loss) attributable to common stockholders per share $ 0.40 $ (0.02 ) $ 1.14 $ 2.22 Year Ended December 31, 2019: Revenue (less agency commissions) $ 518 $ 508 $ 517 $ 579 Operating income 40 119 139 180 Net (loss) income attributable to common stockholders (31 ) 31 46 81 Basic net (loss) income attributable to common stockholders per share $ (0.31 ) $ 0.31 $ 0.46 $ 0.82 Diluted net (loss) income attributable to common stockholders per share $ (0.31 ) $ 0.31 $ 0.46 $ 0.81 Because of the method used in calculating per share data, the sum of the quarterly per share data will not

Note 16 - Subsequent Events

Note 16 - Subsequent Events	12 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Subsequent Events [Text Block]	16. Quincy Transaction. January 31, 2021, 102 25% one 77 first second 93 2020. The completion of the Quincy Transaction is subject to the satisfaction or waiver of certain customary conditions, including, among others: (i) the receipt of approval from the FCC and the expiration or early termination of the waiting period applicable to the transaction under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, second third 2021. may not January 31, 2022, May 1, 2022 Amendment to 2019 February 19, 2021, first 2019 January 2, 2026 Dividend on common stock and Class A common stock. February 24, 2021, first March 31, 2021 March 15, 2021

Schedule II - Valuation and Qua

Schedule II - Valuation and Qualifying Accounts	12 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
SEC Schedule, 12-09, Schedule of Valuation and Qualifying Accounts Disclosure [Text Block]	GRAY TELEVISION, INC. SCHEDULE II – VALUATION AND QUALIFYING ACCOUNTS (in millions) Col. A Col. B Col. C Col. D Col. E Additions (1) (2) Balance at Charged to Charged to Balance at Beginning Costs and Other Deductions End of Description of Period Expenses Accounts (a) Period Year Ended December 31, 2020: Allowance for doubtful accounts $ 11 $ 2 $ - $ (3 ) $ 10 Valuation allowance for deferred tax assets $ 14 $ 1 $ - $ - $ 15 Year Ended December 31, 2019: Allowance for doubtful accounts $ 5 $ 11 $ - $ (5 ) $ 11 Valuation allowance for deferred tax assets $ - $ 14 $ - $ - $ 14 Year Ended December 31, 2018: Allowance for doubtful accounts $ 5 $ 2 $ - $ (2 ) $ 5 Valuation allowance for deferred tax assets $ - $ - $ - $ - $ - (a) Deductions from allowance for doubtful accounts represent write-offs of receivable balances not

Significant Accounting Policies

Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2020
Accounting Policies [Abstract]
Investment, Policy [Policy Text Block]	Investments in Broadcasting, Production and Technology Companies. We account for all material investments in which we own more than 50% may Investments in non-public businesses that do not not not
Trade and Barter Transactions, Policy [Policy Text Block]	Trade and Barter Transactions . December 31, 2020, 2019 2018 Year Ended December 31, 2020 2019 2018 Trade revenue $ 5 $ 8 $ 3 Trade expense (5 ) (8 ) (3 ) Net trade income (loss) $ - $ - $ - We do not not not
Advertising Cost [Policy Text Block]	Advertising Expense . December 31, 2020, 2019 2018,
Use of Estimates, Policy [Policy Text Block]	Use of Estimates .
Receivables, Trade and Other Accounts Receivable, Allowance for Doubtful Accounts, Policy [Policy Text Block]	Allowance for Credit Losses . may 120 December 31, 2020, 2019 2018, Our allowance for credit losses is an estimate of expected losses over the remaining contractual life of our receivables based on an ongoing analysis of collectability, historical collection experience, current economic and industry conditions and reasonable and supportable forecasts. The allowance is calculated using a historical loss rate applied to the current aging analysis. We may We are closely monitoring the potential impact of the COVID- 19 not December 31, 2020. The following table provides a roll-forward of the allowance for credit losses. The allowance is deducted from the amortized cost basis of accounts receivable in our condensed consolidated balance sheets (in milions): Year Ended December 31, 2020 Beginning balance $ 11 Provision for credit losses 2 Amounts written off (3 ) Amounts recovered from previous write-offs - Ending balance $ 10
Program Broadcast Rights [Policy Text Block]	Program Broadcast Rights . two first Wheel of Fortune Seinfeld not first first not The total license fee payable under a program license agreement allowing us to broadcast programs is recorded at the beginning of the license period and is charged to operating expense over the period that the programs are broadcast. The portion of the unamortized balance expected to be charged to operating expense in the succeeding year is classified as a current asset, with the remainder classified as a non-current asset. The liability for license fees payable under program license agreements is classified as current or long-term, in accordance with the payment terms of the various license agreements.
Property, Plant and Equipment, Policy [Policy Text Block]	Property and Equipment . Estimated December 31, Useful Lives 2020 2019 (in years) Property and equipment, net: Land $ 123 $ 119 Buildings and improvements 305 291 7 to 40 Equipment 834 776 3 to 20 1,262 1,186 Accumulated depreciation (525 ) (461 ) Total $ 737 $ 725 Maintenance, repairs and minor replacements are charged to operations as incurred; major replacements and betterments are capitalized. The cost of any assets divested, sold or retired and the related accumulated depreciation are removed from the accounts at the time of disposition, and any resulting gain or loss is reflected in income or expense for the period. In April 2017, $1.7 March 2018 $1.0 $750 may 48 37 2017 2021. The following tables provide additional information related to gain on disposal of assets, net included in our consolidated statements of operations and purchases of property and equipment included in our consolidated statements of cash flows (in millions): Year ended December 31, 2020 2019 2018 Gain on disposal of assets, net: Proceeds from sale of assets $ 9 $ 253 $ 9 Proceeds from Repack 29 41 14 Net book value of assets disposed (9 ) (240 ) (6 ) Total $ 29 $ 54 $ 17 Purchase of property and equipment: Recurring purchases - operations $ 87 $ 89 $ 41 Repack 23 20 27 Repack related - 1 2 Total $ 110 $ 110 $ 70
Deferred Charges, Policy [Policy Text Block]	Deferred Loan Costs .
Asset Retirement Obligation [Policy Text Block]	Asset Retirement Obligations . 2062. December 31, 2020 2019. December 31, 2020, 2019 2018, not
Concentration Risk, Credit Risk, Policy [Policy Text Block]	Concentration of Credit Risk . not Excluding political advertising revenue, which is cyclical based on election cycles, our most significant category of customer is automotive. During the years ended December 31, 2020, 2019 2018 no one 5%
Earnings Per Share, Policy [Policy Text Block]	E arnings Per Share . not not The following table reconciles basic weighted-average shares outstanding to diluted weighted-average shares outstanding for the years ended December 31, 2020, 2019 2018 Year Ended December 31, 2020 2019 2018 Weighted average shares outstanding, basic 96 99 88 Weighted average shares underlying stock options and restricted shares 1 1 1 Weighted average shares outstanding, diluted 97 100 89
Goodwill and Intangible Assets, Policy [Policy Text Block]	Valuation of Broadcast Licenses, Goodwill and Other Intangible Assets . For broadcast licenses acquired prior to January 1, 2002, For broadcast licenses acquired after December 31, 2001, December 31, 2001, When renewing broadcast licenses, we incur regulatory filing fees and legal fees. We expense these fees as they are incurred. Goodwill represents the excess of acquisition cost over the fair value of assets acquired, identifiable intangible assets, less liabilities assumed. Goodwill is tested for impairment on an annual basis (at year end) or between annual tests if events or changes in circumstances indicate that the fair value of a reporting unit may Other intangible assets that we have acquired include network affiliation agreements, retransmission agreements, advertising contracts, client lists, talent contracts and leases. Although each of our stations is affiliated with at least one
Impairment or Disposal of Long-Lived Assets, Including Intangible Assets, Policy [Policy Text Block]	Impairment Testing of Indefinite-Lived Intangible Assets. December 31. For purposes of testing goodwill for impairment, each of our individual television markets or production companies is considered a separate reporting unit. In the performance of our annual assessment of goodwill for impairment, we have the option to qualitatively assess whether it is more likely than not If we conclude that it is more likely than not not To estimate the fair value of our reporting units for a quantitative assessment, we utilize a discounted cash flow model supported by a market multiple approach. We believe that a discounted cash flow analysis is the most appropriate methodology to test the recorded value of long-term assets with a demonstrated long-lived/enduring franchise value. We believe the results of the discounted cash flow and market multiple approaches provide reasonable estimates of the fair value of our reporting units because these approaches are based on our actual results and reasonable estimates of future performance, and also take into consideration a number of other factors deemed relevant by us including, but not one In the performance of our annual assessment of broadcast licenses for impairment we have the option to qualitatively assess whether it is more likely than not not one no not For further discussion of our goodwill, broadcast licenses and other intangible assets, see Note 13
Comprehensive Income, Policy [Policy Text Block]	Accumulated Other Comprehensive Loss. December 31, 2020 2019 December 31, 2020 2019 Items included in accumulated other comprehensive loss: Increase in pension liability $ (52 ) $ (42 ) Income tax benefit (13 ) (11 ) Accumulated other comprehensive loss $ (39 ) $ (31 )
New Accounting Pronouncements, Policy [Policy Text Block]	Recent Accounting Pronouncements. January 2020, 2020 01, Investments Equity Securities (Topic 321 323 815 2020 01 2020 01 321, 323, 815. 2020 01 first 2022. In December 2019, 2019 12, Income Taxes (Topic 740 2019 12 740. 2019 12 first 2022. Adoption of Accounting Standard January 1, 2020, 2016 13, Financial Instruments-Credit Losses 326 Measurement of Credit Losses 120 120 2016 13 not In addition to the accounting standards described above, certain amounts in the consolidated balance sheets and consolidated statements of cash flows have also been reclassified to conform to the current presentation.

Note 1 - Description of Busin_2

Note 1 - Description of Business and Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2020
Notes Tables
Schedule of Principal Transactions Revenue [Table Text Block]	Year Ended December 31, 2020 2019 2018 Trade revenue $ 5 $ 8 $ 3 Trade expense (5 ) (8 ) (3 ) Net trade income (loss) $ - $ - $ -
Accounts Receivable, Allowance for Credit Loss [Table Text Block]	Year Ended December 31, 2020 Beginning balance $ 11 Provision for credit losses 2 Amounts written off (3 ) Amounts recovered from previous write-offs - Ending balance $ 10
Property, Plant and Equipment [Table Text Block]	Estimated December 31, Useful Lives 2020 2019 (in years) Property and equipment, net: Land $ 123 $ 119 Buildings and improvements 305 291 7 to 40 Equipment 834 776 3 to 20 1,262 1,186 Accumulated depreciation (525 ) (461 ) Total $ 737 $ 725
Schedule of Disposal of Assets and Purchase of Property and Equipment [Table Text Block]	Year ended December 31, 2020 2019 2018 Gain on disposal of assets, net: Proceeds from sale of assets $ 9 $ 253 $ 9 Proceeds from Repack 29 41 14 Net book value of assets disposed (9 ) (240 ) (6 ) Total $ 29 $ 54 $ 17 Purchase of property and equipment: Recurring purchases - operations $ 87 $ 89 $ 41 Repack 23 20 27 Repack related - 1 2 Total $ 110 $ 110 $ 70
Schedule of Weighted Average Number of Shares [Table Text Block]	Year Ended December 31, 2020 2019 2018 Weighted average shares outstanding, basic 96 99 88 Weighted average shares underlying stock options and restricted shares 1 1 1 Weighted average shares outstanding, diluted 97 100 89
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]	December 31, 2020 2019 Items included in accumulated other comprehensive loss: Increase in pension liability $ (52 ) $ (42 ) Income tax benefit (13 ) (11 ) Accumulated other comprehensive loss $ (39 ) $ (31 )

Note 2 - Revenue (Tables)

Note 2 - Revenue (Tables)	12 Months Ended
	Dec. 31, 2020
Notes Tables
Disaggregation of Revenue [Table Text Block]	Year Ended December 31, 2020 2019 2018 Market and service type: Advertising: Local $ 771 $ 898 $ 443 National 198 229 114 Political 430 68 155 Total advertising 1,399 1,195 712 Retransmission consent 867 796 355 Production companies 61 87 - Other 54 44 17 Total revenue $ 2,381 $ 2,122 $ 1,084 Sales channel: Direct $ 1,302 $ 1,270 $ 552 Advertising agency intermediary 1,079 852 532 Total revenue $ 2,381 $ 2,122 $ 1,084

Note 3 - Acquisitions and Div_2

Note 3 - Acquisitions and Divestitures (Tables)	12 Months Ended
	Dec. 31, 2020
Notes Tables
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]	2020 Acquisitions Alaska Columbus Sioux Falls Total Accounts receivable and other current assets $ 1 $ - $ - $ 1 Property and equipment 5 2 - 7 Goodwill 2 1 11 14 Broadcast licenses 2 - - 2 Other intangible assets 9 19 11 39 Total $ 19 $ 22 $ 22 $ 63 2019 Acquisitions Raycom United Sioux Falls Charlottesville Total Cash $ 115 $ - $ - $ - $ 115 Accounts receivable, net 243 3 1 1 248 Program broadcast rights 12 - - - 12 Other current assets 10 - - - 10 Property and equipment 311 10 10 7 338 Operating lease right of use asset 52 - - - 52 Goodwill 829 3 2 - 834 Broadcast licenses 2,004 24 14 2 2,044 Other intangible assets 504 8 7 3 522 Other non-current assets 20 - - - 20 Employee compensation and benefits (29 ) - - - (29 ) Program broadcast obligations (16 ) - - - (16 ) Other current liabilities (60 ) - (1 ) - (61 ) Federal and state income taxes payable (3 ) - - - (3 ) Deferred income taxes (472 ) - - - (472 ) Operating lease liabilities (52 ) - - - (52 ) Other long-term liabilities (25 ) - - - (25 ) Total $ 3,443 $ 48 $ 33 $ 13 $ 3,537
Disposal Groups, Including Discontinued Operations [Table Text Block]	Total Cash Station Current Consideration Call DMA Purchaser Received Letters DMA Rank Lockwood Broadcasting, Inc. $ 67 WTNZ Knoxville, TN 60 WFXG Augusta, GA 111 WPGX Panama City, FL 139 WDFX Dothan, AL 175 Scripps Media, Inc. 55 KXXV Waco/Temple/Bryan, TX 95 KRHD Waco/Temple/Bryan, TX 95 WTXL Tallahassee, FL 113 TEGNA, Inc. 109 WTOL Toledo, OH 78 KWES Odessa/Midland, TX 150 Total $ 231
Schedule of Business Acquisitions, by Acquisition [Table Text Block]	KYOU and Net Raycom WUPV Consideration Purchase Price $ 3,660 $ 17 $ 3,677 Less - consideration allocated to all assets acquired and net of liabilities assumed for the Raycom overlap market stations which were also divested on January 2, 2019 (234 ) - (234 ) Purchase consideration for assets acquired and liabilities assumed net of divestitures $ 3,426 $ 17 $ 3,443
Business Combination, Separately Recognized Transactions [Table Text Block]	Year Ended December 31, 2019 Transaction Related Expenses by type: Legal, consulting and other professional fees $ 24 Incentive compensation and other severance costs 21 Termination of sales representation and other agreements 34 Total Transaction Related Expenses $ 79 Transaction Related Expenses by financial statement line item: Operating expenses before depreciation, amortization and loss (gain) on disposal of assets, net: Broadcasting $ 45 Corporate and administrative 34 Total Transaction Related Expenses $ 79
Business Acquisition, Pro Forma Information [Table Text Block]	Year Ended December 31, 2019 Revenue (less agency commissions) $ 2,139 Net income $ 241 Net income attributable to common stockholders $ 189 Basic net income attributable to common stockholders, per share $ 2.43 Diluted net income attributable to common stockholders, per share $ 2.41

Note 4 - Long-term Debt (Tables

Note 4 - Long-term Debt (Tables)	12 Months Ended
	Dec. 31, 2020
Notes Tables
Schedule of Long-term Debt Instruments [Table Text Block]	December 31, 2020 2019 Long-term debt including current portion: 2017 Term Loan $ 595 $ 595 2019 Term Loan 1,190 1,190 2024 Notes - 525 2026 Notes 700 700 2027 Notes 750 750 2030 Notes 800 - Total outstanding principal 4,035 3,760 Unamortized deferred loan costs - 2019 Term Loan (34 ) (44 ) Unamortized deferred loan costs - 2024 Notes - (5 ) Unamortized deferred loan costs - 2026 Notes (6 ) (7 ) Unamortized deferred loan costs - 2027 Notes (10 ) (11 ) Unamortized deferred loan costs - 2030 Notes (14 ) - Unamortized premium - 2026 Notes 3 4 Long-term debt, less deferred financing costs $ 3,974 $ 3,697 Borrowing availability under Revolving Credit Facility $ 200 $ 200
Schedule of Maturities of Long-term Debt [Table Text Block]	Minimum Principal Maturities 2019 Senior 2026 2027 2030 Year Credit Facility Notes Notes Notes Total 2021 $ - $ - $ - $ - $ - 2022 - - - - - 2023 - - - - - 2024 595 - - - 595 2025 - - - - - Thereafter 1,190 700 750 800 3,440 Total $ 1,785 $ 700 $ 750 $ 800 $ 4,035

Note 8 - Stock-based Compensa_2

Note 8 - Stock-based Compensation (Tables)	12 Months Ended
	Dec. 31, 2020
Notes Tables
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Table Text Block]	Year Ended December 31, 2020 2019 2018 Stock-based compensation expense, gross $ 16 $ 16 $ 7 Income tax benefit at our statutory rate associated with stock-based compensation (4 ) (4 ) (2 ) Stock-based compensation expense, net $ 12 $ 12 $ 5
Schedule of Nonvested Restricted Stock Units Activity [Table Text Block]	Year Ended December 31, 2020 2019 2018 Weighted- Weighted- Weighted- Average Average Average Number Grant Date Number Grant Date Number Grant Date of Fair Value of Fair Value of Fair Value Shares Per Share Shares Per Share Shares Per Share Restricted stock - common: Outstanding - beginning of period 977,547 $ 15.45 578,894 $ 13.14 503,685 $ 11.14 Granted 359,481 18.92 751,463 16.07 391,836 14.63 Vested (333,865 ) 15.35 (352,810 ) 12.98 (225,570 ) 11.21 Forfeited (85,630 ) 15.53 - - (91,057 ) 13.27 Outstanding - end of period 917,533 $ 16.84 977,547 $ 15.45 578,894 $ 13.14 Restricted stock - Class A common: Outstanding - beginning of period 449,284 $ 13.55 407,786 $ 11.82 462,632 $ 10.63 Granted 166,814 19.87 199,810 15.36 220,080 12.65 Vested (136,056 ) 12.32 (158,312 ) 11.38 (274,926 ) 10.48 Outstanding - end of period 480,042 $ 16.10 449,284 $ 13.55 407,786 $ 11.82 Restricted stock units - common: Outstanding - beginning of period 398,000 $ 18.21 - $ - 209,500 $ 15.70 Granted 93,184 18.77 398,000 18.21 - - Vested (374,500 ) 18.18 - - (209,500 ) 15.70 Forfeited (26,500 ) 18.21 - - - - Outstanding - end of period 90,184 $ 18.92 398,000 $ 18.21 - $ -

Note 9 - Leases (Tables)

Note 9 - Leases (Tables)	12 Months Ended
	Dec. 31, 2020
Notes Tables
Lessee, Operating Lease, Liability, Maturity [Table Text Block]	Year: 2021 $ 11 2022 10 2023 8 2024 7 2025 7 Thereafter 41 Total lease payments 84 Less: Imputed interest (26 ) Present value of lease liabilities $ 58

Note 10 - Income Taxes (Tables)

Note 10 - Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2020
Notes Tables
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]	Year Ended December 31, 2020 2019 2018 Current: Federal $ 39 $ 8 $ 43 State and local 20 13 11 Current income tax expense 59 21 54 Deferred: Federal 64 54 17 State and local 11 1 6 Deferred income tax expense 75 55 23 Total income tax expense $ 134 $ 76 $ 77
Schedule of Deferred Tax Assets and Liabilities [Table Text Block]	December 31, 2020 2019 Deferred tax liabilities: Net book value of property and equipment $ 92 $ 83 Broadcast licenses, goodwill and other intangible assets 878 869 Total deferred tax liabilities 970 952 Deferred tax assets: Liability for accrued vacation 4 3 Liability for accrued bonus 5 7 Deferred payroll taxes 3 - Allowance for credit losses 3 3 Liability for pension plan 11 10 Federal operating loss carryforwards 38 87 State and local operating loss carryforwards 21 31 Acquisition costs 2 2 Restricted stock 4 4 Investments 4 4 Interest expense limitation 4 4 Other 1 1 Total deferred tax assets 100 156 Valuation allowance for deferred tax assets (15 ) (14 ) Net deferred tax assets 85 142 Deferred tax liabilities, net of deferred tax assets $ 885 $ 810
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]	Year Ended December 31, 2020 2019 2018 Statutory federal rate applied to income before income tax expense $ 114 $ 53 $ 60 Current year permanent items 3 13 3 State and local taxes, net of federal tax benefit 27 13 14 Change in valuation allowance 1 (2 ) - Net operating loss carryback (7 ) - - Other items, net (4 ) (1 ) - Income tax expense as recorded $ 134 $ 76 $ 77 Effective income tax rate 25 % 30 % 27 %

Note 11 - Retirement Plans (Tab

Note 11 - Retirement Plans (Tables)	12 Months Ended
	Dec. 31, 2020
Notes Tables
Schedule of Net Funded Status [Table Text Block]	December 31, 2020 2019 Change in projected benefit obligation: Projected benefit obligation at beginning of year $ 135 $ 117 Interest cost 4 5 Actuarial loss 16 17 Benefits paid (4 ) (4 ) Projected benefit obligation at end of year $ 151 $ 135 Change in plan assets: Fair value of pension plan assets at beginning of year $ 97 $ 84 Actual return on plan assets 12 14 Company contributions 3 3 Benefits paid (4 ) (4 ) Fair value of pension plan assets at end of year 108 97 Funded status of pension plan $ (43 ) $ (38 ) Amounts recognized on our balance sheets consist of: Accrued benefit cost $ 10 $ 5 Accumulated other comprehensive loss (53 ) (43 ) Net liability recognized $ (43 ) $ (38 )
Defined Benefit Plan, Assumptions [Table Text Block]	Year Ended December 31, 2020 2019 Weighted-average assumptions used to determine net periodic benefit cost for the Gray Pension Plan: Discount rate 3.14 % 4.16 % Expected long-term rate of return on pension plan assets 6.50 % 6.50 % Estimated rate of increase in compensation levels N/A N/A As of December 31, 2020 2019 Weighted-average assumptions used to determine benefit obligations: Discount rate 2.38 % 3.14 %
Schedule of Net Benefit Costs [Table Text Block]	Year Ended December 31, 2020 2019 2018 Components of net periodic pension cost: Interest cost $ 4 $ 5 $ 5 Expected return on plan assets (6 ) (5 ) (6 ) Recognized net actuarial loss 1 - - Net periodic pension benefit $ (1 ) $ - $ (1 )
Schedule of Expected Benefit Payments [Table Text Block]	Years Amount 2021 $ 4 2022 4 2023 5 2024 5 2025 5 2026 - 2030 31
Schedule of Allocation of Plan Assets by Asset Category [Table Text Block]	As of December 31, 2020 2019 Asset category: Insurance general account 15 % 17 % Cash management accounts 3 % 2 % Equity accounts 48 % 47 % Fixed income accounts 32 % 32 % Real estate accounts 2 % 2 % Total 100 % 100 %
Schedule of Allocation of Plan Assets [Table Text Block]	Target Range Asset class: Strategic Allocation Lower Limit Upper Limit Equities: Large cap value 5 % 0 % 50 % Large cap blend 5 % 0 % 50 % Large cap growth 5 % 0 % 50 % Mid cap blend 15 % 0 % 40 % Small cap core 5 % 0 % 25 % Foreign large blend 10 % 0 % 40 % Emerging markets 10 % 0 % 25 % Real estate 5 % 0 % 20 % Fixed Income: U.S. Treasury inflation protected 5 % 0 % 25 % Intermediate term bond 10 % 0 % 50 % Long term government bond 5 % 0 % 40 % High yield bond 10 % 0 % 25 % Emerging markets bond 10 % 0 % 20 % Money market taxable 0 % 0 % 100 %
Defined Benefit Plan, Fair Value of Plan Assets [Table Text Block]	As of December 31, 2020 Level 1 Level 2 Level 3 Total Assets: Insurance general account $ - $ 16 $ - $ 16 Cash management accounts 3 - - 3 Equity accounts 52 - - 52 Fixed income accounts 35 - - 35 Real estate accounts 2 - - 2 Total $ 92 $ 16 $ - $ 108 As of December 31, 2019 Level 1 Level 2 Level 3 Total Assets: Insurance general account $ - $ 16 $ - $ 16 Cash management accounts 2 - - 2 Equity accounts 46 - - 46 Fixed income account 31 - - 31 Real estate accounts 2 - - 2 Total $ 81 $ 16 $ - $ 97

Note 12 - Commitments and Con_2

Note 12 - Commitments and Contingencies (Tables)	12 Months Ended
	Dec. 31, 2020
Notes Tables
Contractual Obligation, Fiscal Year Maturity [Table Text Block]	Service and Syndicated Network Other Television Affiliation Year Agreements Programming Agreements Total 2021 $ 20 $ 10 $ 435 $ 465 2022 16 28 224 268 2023 14 18 229 261 2024 11 1 - 12 2025 11 - - 11 Thereafter 11 - - 11 Total $ 83 $ 57 $ 888 $ 1,028

Note 13 - Goodwill and Intang_2

Note 13 - Goodwill and Intangible Assets (Tables)	12 Months Ended
	Dec. 31, 2020
Notes Tables
Schedule of Changes in Goodwill and Other Intangible Assets [Table Text Block]	Net Balance at Acquisitions Net Balance at December 31, And December 31, 2019 Adjustments Impairment Amortization 2020 Goodwill $ 1,446 $ 14 $ - $ - $ 1,460 Broadcast licenses 3,573 6 - - 3,579 Finite-lived intangible assets 460 40 - (105 ) 395 Total intangible assets net of accumulated amortization $ 5,479 $ 60 $ - $ (105 ) $ 5,434 Net Balance at Acquisitions Net Balance at December 31, And December 31, 2018 Adjustments Impairment Amortization 2019 Goodwill $ 612 $ 834 $ - $ - $ 1,446 Broadcast licenses 1,530 2,043 - - 3,573 Finite-lived intangible assets 53 522 - (115 ) 460 Total intangible assets net of accumulated amortization $ 2,195 $ 3,399 $ - $ (115 ) $ 5,479
Schedule of Goodwill [Table Text Block]	As of Acquisitions December 31, And As of 2019 Adjustments Impairment December 31, 2020 Goodwill, gross $ 1,545 $ 14 $ - $ 1,559 Accumulated goodwill impairment (99 ) - - (99 ) Goodwill, net $ 1,446 $ 14 $ - $ 1,460 As of Acquisitions December 31, And As of 2018 Adjustments Impairment December 31, 2019 Goodwill, gross $ 711 $ 834 $ - $ 1,545 Accumulated goodwill impairment (99 ) - - (99 ) Goodwill, net $ 612 $ 834 $ - $ 1,446
Schedule of Intangible Assets and Goodwill [Table Text Block]	As of December 31, 2020 As of December 31, 2019 Accumulated Accumulated Gross Amortization Net Gross Amortization Net Intangible assets not currently subject to amortization: Broadcast licenses $ 3,633 $ (54 ) $ 3,579 $ 3,627 $ (54 ) $ 3,573 Goodwill 1,460 - 1,460 1,446 - 1,446 $ 5,093 $ (54 ) $ 5,039 $ 5,073 $ (54 ) $ 5,019 Intangible assets subject to amortization: Network affiliation agreements $ 67 $ (28 ) $ 39 $ 56 $ (17 ) $ 39 Other finite-lived intangible assets 644 (288 ) 356 615 (194 ) 421 $ 711 $ (316 ) $ 395 $ 671 $ (211 ) $ 460 Total intangible assets $ 5,804 $ (370 ) $ 5,434 $ 5,744 $ (265 ) $ 5,479

Note 14 - Segment Information (

Note 14 - Segment Information (Tables)	12 Months Ended
	Dec. 31, 2020
Notes Tables
Schedule of Segment Reporting Information, by Segment [Table Text Block]	Production As of and for the Year ended December 31, 2020: Broadcasting Companies Other Consolidated Revenue (less agency commissions) $ 2,320 $ 61 $ - $ 2,381 Operating expenses before depreciation, amortization and (gain) loss on disposal of assets, net: 1,340 52 65 1,457 Depreciation and amortization 186 12 3 201 (Gain) loss on disposal of assets, net (31 ) 2 - (29 ) Total operating expenses 1,495 66 68 1,629 Operating income $ 825 $ (5 ) $ (68 ) $ 752 Interest expense $ - $ - $ 191 $ 191 Capital expenditures (excluding business combinations) $ 106 $ 4 $ - $ 110 Goodwill $ 1,419 $ 41 $ - $ 1,460 Total assets $ 6,631 $ 141 $ 871 $ 7,643 As of and for the Year ended December 31, 2019: Revenue (less agency commissions) $ 2,035 $ 87 $ - $ 2,122 Operating expenses before depreciation, amortization and gain on disposal of assets, net: 1,325 74 104 1,503 Depreciation and amortization 180 13 2 195 Gain on disposal of assets, net (54 ) - - (54 ) Total operating expenses 1,451 87 106 1,644 Operating income $ 584 $ - $ (106 ) $ 478 Interest expense $ - $ - $ 227 $ 227 Capital expenditures (excluding business combinations) $ 104 $ 1 $ 5 $ 110 Goodwill $ 1,405 $ 41 $ - $ 1,446 Total assets $ 6,530 $ 153 $ 289 $ 6,972 As of and for the Year ended December 31, 2018: Revenue (less agency commissions) $ 1,084 $ - $ - $ 1,084 Operating expenses before depreciation, amortization and gain on disposal of assets, net: 596 - 41 637 Depreciation and amortization 74 - 1 75 Gain on disposal of assets, net (17 ) - - (17 ) Operating expenses 653 - 42 695 Operating income $ 431 $ - $ (42 ) $ 389 Interest expense $ - $ - $ 107 $ 107 Capital expenditures (excluding business combinations) $ 68 $ - $ 2 $ 70 Goodwill $ 612 $ - $ - $ 612 Total assets $ 2,763 $ - $ 1,450 $ 4,213

Note 15 - Selected Quarterly _2

Note 15 - Selected Quarterly Financial Data (Unaudited) (Tables)	12 Months Ended
	Dec. 31, 2020
Notes Tables
Quarterly Financial Information [Table Text Block]	Fiscal Quarter First Second Third Fourth (In millions, except for per share data) Year Ended December 31, 2020: Revenue (less agency commissions) $ 534 $ 451 $ 604 $ 792 Operating income 124 65 212 351 Net income (loss) attributable to common stockholders 40 (2 ) 109 211 Basic net income (loss) attributable to common stockholders per share $ 0.41 $ (0.02 ) $ 1.15 $ 2.24 Diluted net income (loss) attributable to common stockholders per share $ 0.40 $ (0.02 ) $ 1.14 $ 2.22 Year Ended December 31, 2019: Revenue (less agency commissions) $ 518 $ 508 $ 517 $ 579 Operating income 40 119 139 180 Net (loss) income attributable to common stockholders (31 ) 31 46 81 Basic net (loss) income attributable to common stockholders per share $ (0.31 ) $ 0.31 $ 0.46 $ 0.82 Diluted net (loss) income attributable to common stockholders per share $ (0.31 ) $ 0.31 $ 0.46 $ 0.81

Schedule II - Valuation and Q_2

Schedule II - Valuation and Qualifying Accounts (Tables)	12 Months Ended
	Dec. 31, 2020
Notes Tables
Summary of Valuation Allowance [Table Text Block]	Col. A Col. B Col. C Col. D Col. E Additions (1) (2) Balance at Charged to Charged to Balance at Beginning Costs and Other Deductions End of Description of Period Expenses Accounts (a) Period Year Ended December 31, 2020: Allowance for doubtful accounts $ 11 $ 2 $ - $ (3 ) $ 10 Valuation allowance for deferred tax assets $ 14 $ 1 $ - $ - $ 15 Year Ended December 31, 2019: Allowance for doubtful accounts $ 5 $ 11 $ - $ (5 ) $ 11 Valuation allowance for deferred tax assets $ - $ 14 $ - $ - $ 14 Year Ended December 31, 2018: Allowance for doubtful accounts $ 5 $ 2 $ - $ (2 ) $ 5 Valuation allowance for deferred tax assets $ - $ - $ - $ - $ -

Note 1 - Description of Busin_3

Note 1 - Description of Business and Summary of Significant Accounting Policies (Details Textual) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Advertising Expense	$ 1	$ 2	$ 1
Period for Creating Allowance for Doubtful Accounts (Day)	120 days
Accounts Receivable, Credit Loss Expense (Reversal)	$ 2	11	$ 2
Asset Retirement Obligation, Ending Balance	$ 2	$ 2
Revenue Benchmark [Member] | Customer Concentration Risk [Member] | Automotive [Member]
Concentration Risk, Percentage	21.00%	25.00%	25.00%

Note 1 - Description of Busin_4

Note 1 - Description of Business and Summary of Significant Accounting Policies - Trade Revenue and Expense (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Trade revenue	$ 5	$ 8	$ 3
Trade expense	(5)	(8)	(3)
Net trade income (loss)	$ 0	$ 0	$ 0

Note 1 - Description of Busin_5

Note 1 - Description of Business and Summary of Significant Accounting Policies - Allowance for Credit Losses (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Beginning balance	$ 11
Provision for credit losses	2	$ 11	$ 2
Amounts written off	(3)
Amounts recovered from previous write-offs	0
Ending balance	$ 10	$ 11

Note 1 - Description of Busin_6

Note 1 - Description of Business and Summary of Significant Accounting Policies - Property and Equipment (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Property and equipment, gross	$ 1,262	$ 1,186
Accumulated depreciation	(525)	(461)
Total property and equipment, net	737	725
Land [Member]
Property and equipment, gross	123	119
Building and Building Improvements [Member]
Property and equipment, gross	$ 305	291
Building and Building Improvements [Member] | Minimum [Member]
Estimated Useful Lives (Year)	7 years
Building and Building Improvements [Member] | Maximum [Member]
Estimated Useful Lives (Year)	40 years
Equipment [Member]
Property and equipment, gross	$ 834	$ 776
Equipment [Member] | Minimum [Member]
Estimated Useful Lives (Year)	3 years
Equipment [Member] | Maximum [Member]
Estimated Useful Lives (Year)	20 years

Note 1 - Description of Busin_7

Note 1 - Description of Business and Summary of Significant Accounting Policies - Disposal of Assets and Purchase of Property and Equipment (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Proceeds from sale of assets	$ 9	$ 253	$ 9
Proceeds from Repack reimbursement (Note 1)	29	41	14
Net book value of assets disposed	(9)	(240)	(6)
Total	29	54	17
Recurring purchases - operations	87	89	41
Repack	23	20	27
Repack related	0	1	2
Total	$ 110	$ 110	$ 70

Note 1 - Description of Busin_8

Note 1 - Description of Business and Summary of Significant Accounting Policies - Reconciliation of Basic to Diluted Weighted-average Shares Outstanding (Details) - shares shares in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Weighted average shares outstanding, basic (in shares)	96	99	88
Weighted average shares underlying stock options and restricted shares (in shares)	1	1	1
Weighted average shares outstanding, diluted (in shares)	97	100	89

Note 1 - Description of Busin_9

Note 1 - Description of Business and Summary of Significant Accounting Policies - Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Increase in pension liability	$ (52)	$ (42)
Income tax benefit	(13)	(11)
Accumulated other comprehensive loss	$ (39)	$ (31)

Note 2 - Revenue (Details Textu

Note 2 - Revenue (Details Textual) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Contract with Customer, Liability, Revenue Recognized	$ 9
Deferred Revenue [Member]
Deposit Liability, Current	$ 21	$ 9

Note 2 - Revenue - Disaggregati

Note 2 - Revenue - Disaggregation of Revenue (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Revenue	$ 792	$ 604	$ 451	$ 534	$ 579	$ 517	$ 508	$ 518	$ 2,381	$ 2,122	$ 1,084
Sales Channel, Directly to Consumer [Member]
Revenue									1,302	1,270	552
Sales Channel, Through Intermediary [Member]
Revenue									1,079	852	532
Local Advertising [Member]
Revenue									771	898	443
National Advertising [Member]
Revenue									198	229	114
Political Advertising [Member]
Revenue									430	68	155
Advertising [Member]
Revenue									1,399	1,195	712
Retransmission Consent [Member]
Revenue									867	796	355
Production Companies [Member]
Revenue									61	87	0
Service, Other [Member]
Revenue									$ 54	$ 44	$ 17

Note 3 - Acquisitions and Div_3

Note 3 - Acquisitions and Divestitures (Details Textual) - USD ($) $ in Millions

Dec. 31, 2020

Nov. 02, 2020

Sep. 01, 2020

Jul. 31, 2020

Oct. 01, 2019

Sep. 25, 2019

May 01, 2019

Jan. 02, 2019

Dec. 31, 2018

Dec. 31, 2020

Dec. 31, 2019

Dec. 31, 2018

Business Combination, Acquisition Related Costs

$ 79

Finite-lived Intangible Assets Acquired

$ 40

522

Goodwill, Ending Balance

$ 1,460

$ 612

1,460

1,446

$ 612

Proceeds from Divestiture of Businesses

0

253

$ 9

Stations Acquired from Raycom [Member]

Gain (Loss) on Disposition of Business

$ 234

WCAV-TV and WVAW-TV [Member]

Gain (Loss) on Disposition of Business

$ 19

WSWG-TV [Member]

Gain (Loss) on Disposition of Business

$ 5

WSWG-TV [Member] | Lockwood Broadcasting, Inc. [Member]

Proceeds from Divestiture of Businesses

9

Broadcast Licenses Acquired in 2020 [Member]

Indefinite-lived Intangible Assets Acquired

5

Alaska Transactions [Member]

Payments to Acquire Businesses, Gross

$ 19

Goodwill, Ending Balance

2

2

Columbus Acquisition [Member]

Payments to Acquire Businesses, Gross

$ 22

Goodwill, Ending Balance

1

1

Sioux Falls Acquisition [Member]

Payments to Acquire Businesses, Gross

$ 22

$ 33

Goodwill, Ending Balance

11

2

11

2

Lubbock Transactions [Member]

Payments to Acquire Businesses, Gross

23

The 2020 Acquisitions [Member]

Business Combination, Acquisition Related Costs

1

Goodwill, Ending Balance

$ 14

$ 14

The 2020 Acquisitions [Member] | Minimum [Member]

Property, Plant and Equipment, Useful Life (Year)

3 years

Finite-Lived Intangible Asset, Useful Life (Year)

1 year

The 2020 Acquisitions [Member] | Maximum [Member]

Property, Plant and Equipment, Useful Life (Year)

40 years

Finite-Lived Intangible Asset, Useful Life (Year)

4 years

Raycom [Member]

Payments to Acquire Businesses, Gross

2,840

Business Combination, Consideration Transferred, Total

3,660

3,677

Goodwill, Ending Balance

$ 829

829

Business Acquisition, Goodwill, Expected Tax Deductible Amount

150

Raycom [Member] | Common Stock [Member]

Business Acquisition, Equity Interest Issued or Issuable, Number of Shares (in shares)

11,500,000

Business Combination, Consideration Transferred, Equity Interests Issued and Issuable

$ 170

Raycom [Member] | Preferred Stock [Member] | Series A Perpetual Preferred Stock [Member]

Business Acquisition, Equity Interest Issued or Issuable, Number of Shares (in shares)

650,000

Business Combination, Consideration Transferred, Equity Interests Issued and Issuable

$ 650

KYOU-TV and WUPV-TV [Member]

Payments to Acquire Businesses, Gross

17

Business Combination, Consideration Transferred, Total

17

Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Gross Contractual Receivables above Their Fair Value

2

WWNY-TV, WNYF-CD, and KEYC-TV [Member]

Payments to Acquire Businesses, Gross

$ 48

Goodwill, Ending Balance

$ 3

Charlottesville Acquisition [Member]

Payments to Acquire Businesses, Gross

$ 13

Goodwill, Ending Balance

0

Acquisitions 2019 [Member]

Goodwill, Ending Balance

834

Business Combination, Pro Forma Information, Revenue of Acquiree since Acquisition Date, Actual

1,100

Business Combination, Pro Forma Information, Earnings or Loss of Acquiree since Acquisition Date, Actual

$ 198

Acquisitions 2019 [Member] | Retransmission Agreements [Member]

Finite-lived Intangible Assets Acquired

$ 322

Acquired Finite-lived Intangible Assets, Weighted Average Useful Life (Year)

4 years 1 month 6 days

Acquisitions 2019 [Member] | Off-Market Favorable Lease [Member]

Finite-lived Intangible Assets Acquired

$ 98

Acquired Finite-lived Intangible Assets, Weighted Average Useful Life (Year)

7 years 8 months 12 days

Acquisitions 2019 [Member] | Network Affiliation Agreements [Member]

Finite-lived Intangible Assets Acquired

$ 50

Acquired Finite-lived Intangible Assets, Weighted Average Useful Life (Year)

3 years 8 months 12 days

Acquisitions 2019 [Member] | Minimum [Member]

Property, Plant and Equipment, Useful Life (Year)

3 years

Acquisitions 2019 [Member] | Maximum [Member]

Property, Plant and Equipment, Useful Life (Year)

40 years

Note 3 - Acquisitions and Div_4

Note 3 - Acquisitions and Divestitures - Acquisitions (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019	Oct. 01, 2019	Jan. 02, 2019	Dec. 31, 2018
Goodwill	$ 1,460	$ 1,446			$ 612
Alaska Transactions [Member]
Accounts receivable and other current assets	1
Property and equipment	5
Goodwill	2
Broadcast licenses	2
Other intangible assets	9
Total	19
Columbus Acquisition [Member]
Accounts receivable and other current assets	0
Property and equipment	2
Goodwill	1
Broadcast licenses	0
Other intangible assets	19
Total	22
Sioux Falls Acquisition [Member]
Accounts receivable and other current assets	0
Property and equipment	0	10
Goodwill	11	2	$ 2
Broadcast licenses	0
Other intangible assets	11	7
Total	22	33
Cash		0
Accounts receivable, net		1
Program broadcast rights		0
Other current assets		0
Operating lease right of use asset		0
Broadcast licenses		14
Other non-current assets		0
Employee compensation and benefits		0
Program broadcast obligations		0
Other current liabilities		(1)
Federal and state income taxes payable		0
Deferred income taxes		0
Operating lease liabilities		0
Other long-term liabilities		0
The 2020 Acquisitions [Member]
Accounts receivable and other current assets	1
Property and equipment	7
Goodwill	14
Broadcast licenses	2
Other intangible assets	39
Total	$ 63
Raycom [Member]
Property and equipment		311
Goodwill		829		$ 829
Other intangible assets		504
Total		3,443
Cash		115
Accounts receivable, net		243
Program broadcast rights		12
Other current assets		10
Operating lease right of use asset		52
Broadcast licenses		2,004
Other non-current assets		20
Employee compensation and benefits		(29)
Program broadcast obligations		(16)
Other current liabilities		(60)
Federal and state income taxes payable		(3)
Deferred income taxes		(472)
Operating lease liabilities		(52)
Other long-term liabilities		(25)
United Acquisition [Member]
Property and equipment		10
Goodwill		3
Other intangible assets		8
Total		48
Cash		0
Accounts receivable, net		3
Program broadcast rights		0
Other current assets		0
Operating lease right of use asset		0
Broadcast licenses		24
Other non-current assets		0
Employee compensation and benefits		0
Program broadcast obligations		0
Other current liabilities		0
Federal and state income taxes payable		0
Deferred income taxes		0
Operating lease liabilities		0
Other long-term liabilities		0
Charlottesville Acquisition [Member]
Property and equipment		7
Goodwill		0
Other intangible assets		3
Total		13
Cash		0
Accounts receivable, net		1
Program broadcast rights		0
Other current assets		0
Operating lease right of use asset		0
Broadcast licenses		2
Other non-current assets		0
Employee compensation and benefits		0
Program broadcast obligations		0
Other current liabilities		0
Federal and state income taxes payable		0
Deferred income taxes		0
Operating lease liabilities		0
Other long-term liabilities		0
Acquisitions 2019 [Member]
Property and equipment		338
Goodwill		834
Other intangible assets		522
Total		3,537
Cash		115
Accounts receivable, net		248
Program broadcast rights		12
Other current assets		10
Operating lease right of use asset		52
Broadcast licenses		2,044
Other non-current assets		20
Employee compensation and benefits		(29)
Program broadcast obligations		(16)
Other current liabilities		(61)
Federal and state income taxes payable		(3)
Deferred income taxes		(472)
Operating lease liabilities		(52)
Other long-term liabilities		$ (25)

Note 3 - Acquisitions and Div_5

Note 3 - Acquisitions and Divestitures - Assets Sold from the Raycom Merger (Details) - USD ($) $ in Millions	Jan. 02, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Proceeds from sale of television stations		$ 0	$ 253	$ 9
WTNZ-TV, WFXG-TV, WPGX-TV, and WDFX-TV [Member] | Lockwood Broadcasting, Inc. [Member]
Proceeds from sale of television stations	$ 67
KXXV-TV, KRHD-CD, and WTXL-TV [Member] | Scripps Media, Inc. [Member]
Proceeds from sale of television stations	55
WTOL-TV and KWES-TV [Member] | TEGNA, Inc. [Member]
Proceeds from sale of television stations	109
WTNZ-TV, WFXG-TV, WPGX-TV, WDFX-TV, KXXV-TV, KRHD-CD, WTXL-TV, WTOL-TV and KWES-TV [Member]
Proceeds from sale of television stations	$ 231

Note 3 - Acquisitions and Div_6

Note 3 - Acquisitions and Divestitures - Consideration (Details) - USD ($) $ in Millions	Jan. 02, 2019	Dec. 31, 2019
Raycom, Excluding KYOU and WUPV [Member]
Purchase Price		$ 3,660
Less - consideration allocated to all assets acquired and net of liabilities assumed for the Raycom overlap market stations which were also divested on January 2, 2019		(234)
Purchase consideration for assets acquired and liabilities assumed net of divestitures		3,426
KYOU-TV and WUPV-TV [Member]
Purchase Price		17
Less - consideration allocated to all assets acquired and net of liabilities assumed for the Raycom overlap market stations which were also divested on January 2, 2019		0
Purchase consideration for assets acquired and liabilities assumed net of divestitures		17
Raycom [Member]
Purchase Price	$ 3,660	3,677
Less - consideration allocated to all assets acquired and net of liabilities assumed for the Raycom overlap market stations which were also divested on January 2, 2019		(234)
Purchase consideration for assets acquired and liabilities assumed net of divestitures		$ 3,443

Note 3 - Acquisitions and Div_7

Note 3 - Acquisitions and Divestitures - Transaction Related Expenses (Details) $ in Millions	12 Months Ended
	Dec. 31, 2019USD ($)
Transaction related expenses	$ 79
Broadcast Licenses [Member]
Transaction related expenses	45
Corporate and Administrative [Member]
Transaction related expenses	34
Legal, Consulting and Other Professional Fees [Member]
Transaction related expenses	24
Incentive Compensation and Severance Costs [Member]
Transaction related expenses	21
Termination of Sales Representation Agreements [Member]
Transaction related expenses	$ 34

Note 3 - Acquisitions and Div_8

Note 3 - Acquisitions and Divestitures - Unaudited Pro Forma Results (Details) - Raycom [Member] $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2019USD ($)$ / shares
Revenue (less agency commissions)	$ 2,139
Net income	241
Net income attributable to common stockholders	$ 189
Basic net income attributable to common stockholders, per share (in dollars per share) | $ / shares	$ 2.43
Diluted net income attributable to common stockholders, per share (in dollars per share) | $ / shares	$ 2.41

Note 4 - Long-term Debt (Detail

Note 4 - Long-term Debt (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Feb. 18, 2021	Oct. 19, 2020	Jan. 02, 2019
Interest Paid, Excluding Capitalized Interest, Operating Activities	$ 179,000	$ 212,000	$ 95,000
Interest Costs Capitalized	$ 0	$ 0	$ 0
2026 Notes [Member]
Debt Instrument, Interest Rate, Stated Percentage	5.875%
2027 Notes [Member]
Debt Instrument, Interest Rate, Stated Percentage	7.00%
2030 Notes [Member]
Debt Instrument, Interest Rate, Stated Percentage	4.75%				4.75%
Debt Instrument, Face Amount					$ 800,000
2024 Notes [Member]
Debt Instrument, Interest Rate, Stated Percentage	5.125%
The 2019 Senior Credit Facility [Member] | Revolving Credit Facility [Member]
Line of Credit Facility, Maximum Borrowing Capacity						$ 200,000
The 2019 Senior Credit Facility [Member] | The 2019 Term Loan [Member]
Debt Instrument, Interest Rate, Effective Percentage	2.70%
The 2017 Senior Credit Facility [Member] | The 2017 Term Loan [Member]
Debt Instrument, Interest Rate, Effective Percentage	2.40%
The Amended 2019 Senior Credit Facility [Member] | Revolving Credit Facility [Member] | Subsequent Event [Member]
Line of Credit Facility, Maximum Borrowing Capacity				$ 300,000

Note 4 - Long-term Debt - Long-

Note 4 - Long-term Debt - Long-term Debt Summary (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Long-term debt, gross	$ 4,035	$ 3,760
Long-term debt, less deferred financing costs	3,974	3,697
Borrowing availability under Revolving Credit Facility	200	200
The 2017 Term Loan [Member]
Long-term debt, gross	595	595
The 2019 Term Loan [Member]
Long-term debt, gross	1,190	1,190
2024 Notes [Member]
Long-term debt, gross	0	525
Unamortized deferred loan costs	0	(5)
2026 Notes [Member]
Long-term debt, gross	700	700
Unamortized deferred loan costs	(6)	(7)
Unamortized premium	3	4
2027 Notes [Member]
Long-term debt, gross	750	750
Unamortized deferred loan costs	(10)	(11)
2030 Notes [Member]
Long-term debt, gross	800	0
Unamortized deferred loan costs	(14)	0
The 2019 Senior Credit Facility [Member]
Long-term debt, gross	1,785
Unamortized deferred loan costs	$ (34)	$ (44)

Note 4 - Long-term Debt - Aggre

Note 4 - Long-term Debt - Aggregate Minimum Principal Maturities on Long-term Debt (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
2021	$ 0
2022	0
2023	0
2024	595
2025	0
Thereafter	3,440
Total Debt	4,035	$ 3,760
The 2019 Senior Credit Facility [Member]
2021	0
2022	0
2023	0
2024	595
2025	0
Thereafter	1,190
Total Debt	1,785
2026 Notes [Member]
2021	0
2022	0
2023	0
2024	0
2025	0
Thereafter	700
Total Debt	700	700
2027 Notes [Member]
2021	0
2022	0
2023	0
2024	0
2025	0
Thereafter	750
Total Debt	750	750
2030 Notes [Member]
2021	0
2022	0
2023	0
2024	0
2025	0
Thereafter	800
Total Debt	$ 800	$ 0

Note 5 - Fair Value Measureme_2

Note 5 - Fair Value Measurement (Details Textual) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Long-term Debt, Total	$ 3,974	$ 3,697
Long-term Debt, Fair Value	$ 4,100	$ 3,900

Note 6 - Stockholders' Equity (

Note 6 - Stockholders' Equity (Details Textual) $ / shares in Units, $ in Thousands	Jan. 02, 2019$ / sharesshares	Dec. 31, 2020USD ($)$ / sharesshares	Dec. 31, 2019USD ($)shares	Dec. 31, 2018USD ($)	Nov. 04, 2020USD ($)	Nov. 05, 2019USD ($)
Capital Units, Authorized (in shares) | shares		245,000,000
Common Stock, Shares Authorized (in shares) | shares		200,000,000	200,000,000
Preferred Stock, Shares Authorized (in shares) | shares		20,000,000
Common Stock, Voting Rights, Votes Per Share		1
Dividends, Common Stock, Total | $		$ 0	$ 0	$ 0
Treasury Stock, Value, Acquired, Cost Method | $		75,000	$ 32,000	$ 19,000
Stock Repurchase Program, Remaining Authorized Repurchase Amount | $		$ 204,000
Common Stock, Capital Shares Reserved for Future Issuance (in shares) | shares		4,006,948	6,130,944
Repurchase Authorization 2019 [Member]
Stock Repurchase Program, Authorized Amount | $						$ 150,000
Treasury Stock, Shares, Acquired (in shares) | shares		3,688,022
Treasury Stock Acquired, Average Cost Per Share (in dollars per share) | $ / shares		$ 13.81
Treasury Stock, Value, Acquired, Cost Method | $		$ 51,000
Stock Repurchase Program, Remaining Authorized Repurchase Amount | $		$ 68,000
Issuers Repurchase Program 2019 [Member]
Treasury Stock, Shares, Acquired (in shares) | shares		905,836
Treasury Stock Acquired, Average Cost Per Share (in dollars per share) | $ / shares		$ 11.02
Treasury Stock, Value, Acquired, Cost Method | $		$ 10,000
Repurchase Authorization 2020 [Member]
Treasury Stock, Shares, Acquired (in shares) | shares		864,026
Treasury Stock Acquired, Average Cost Per Share (in dollars per share) | $ / shares		$ 16.47
Treasury Stock, Value, Acquired, Cost Method | $		$ 14,000
Stock Repurchase Program, Remaining Authorized Repurchase Amount | $		$ 136,000
Stock Repurchase Program, Additional Authorized Amount | $					$ 150,000
Raycom [Member] | Common Stock [Member]
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares (in shares) | shares	11,500,000
Shares Issued, Price Per Share (in dollars per share) | $ / shares	$ 14.74
Common Class A [Member]
Common Stock, Shares Authorized (in shares) | shares		25,000,000	25,000,000
Common Stock, Voting Rights, Votes Per Share		10
Common Stock, Capital Shares Reserved for Future Issuance (in shares) | shares		1,336,440	1,503,254

Note 7 - Preferred Stock (Detai

Note 7 - Preferred Stock (Details Textual) - Series A Perpetual Preferred Stock [Member]	Jan. 02, 2019$ / sharesshares
Preferred Stock, Liquidation Preference Per Share (in dollars per share) | $ / shares	$ 1,000
Preferred Stock, Dividend Rate, Cash, Percentage	8.00%
Preferred Stock, Dividend Rate, Additional Preferred Stock, Percentage	8.50%
Raycom [Member] | Preferred Stock [Member]
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares (in shares) | shares	650,000

Note 8 - Stock-based Compensa_3

Note 8 - Stock-based Compensation (Details Textual) - USD ($) $ / shares in Units, $ in Millions	9 Months Ended	12 Months Ended
	Sep. 30, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total		$ 7
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year)		1 year 6 months
The 2017 Equity and Incentive Compensation Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant (in shares)		3,000,000
Common Class A [Member] | The 2017 Equity and Incentive Compensation Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant (in shares)		1,300,000
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)		359,481	751,463	391,836
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value (in dollars per share)		$ 18.92	$ 16.07	$ 14.63
Restricted Stock [Member] | Common Class A [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)		166,814	199,810	220,080
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value (in dollars per share)		$ 19.87	$ 15.36	$ 12.65
Restricted Stock [Member] | Nonemployee Directors [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)		78,722	41,181	73,640
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value (in dollars per share)		$ 11.56	$ 22.10	$ 11.95
Restricted Stock [Member] | Employee [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)		32,216		318,196
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value (in dollars per share)		$ 15.52		$ 15.25
Restricted Stock [Member] | Employee [Member] | Share-based Payment Arrangement, Tranche One [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)			11,223	131,106
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value (in dollars per share)			$ 17.83
Restricted Stock [Member] | Employee [Member] | Share-based Payment Arrangement, Tranche Two [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)			32,680	69,651
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value (in dollars per share)			$ 15.92
Restricted Stock [Member] | Employee [Member] | Share-based Payment Arrangement, Tranche Three [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)				69,652
Restricted Stock [Member] | Certain Employees One [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)			340,993
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value (in dollars per share)			$ 14.85
Restricted Stock [Member] | Certain Employees Two [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)			277,048
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value (in dollars per share)			$ 16.55
Restricted Stock [Member] | Certain Employees Two [Member] | Share-based Payment Arrangement, Tranche One [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)			92,349
Restricted Stock [Member] | Certain Employees Two [Member] | Share-based Payment Arrangement, Tranche Two [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)			92,349
Restricted Stock [Member] | Certain Employees Two [Member] | Share-based Payment Arrangement, Tranche Three [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)			92,350
Service Based Restricted Stock [Member] | Employee [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)		207,787
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value (in dollars per share)		$ 21.69
Service Based Restricted Stock [Member] | Employee [Member] | Share-based Payment Arrangement, Tranche One [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)		69,262
Service Based Restricted Stock [Member] | Employee [Member] | Share-based Payment Arrangement, Tranche Two [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)		69,262
Service Based Restricted Stock [Member] | Employee [Member] | Share-based Payment Arrangement, Tranche Three [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)		69,263
Service Based Restricted Stock [Member] | Employee [Member] | Common Class A [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)		83,407	99,905	110,040
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value (in dollars per share)		$ 19.87	$ 15.36	$ 12.65
Service Based Restricted Stock [Member] | Employee [Member] | Common Class A [Member] | Share-based Payment Arrangement, Tranche One [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)		27,802	33,302	36,680
Service Based Restricted Stock [Member] | Employee [Member] | Common Class A [Member] | Share-based Payment Arrangement, Tranche Two [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)		27,802	33,302	36,680
Service Based Restricted Stock [Member] | Employee [Member] | Common Class A [Member] | Share-based Payment Arrangement, Tranche Three [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)		27,803	33,301
Performance Based Restricted Stock [Member] | Employee [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)		40,756	48,338
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value (in dollars per share)		$ 21.69	$ 16.55
Performance Based Restricted Stock [Member] | Employee [Member] | Common Class A [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)		83,407	99,905	110,040
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value (in dollars per share)		$ 19.87	$ 15.36	$ 12.65
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)	398,000	93,184	398,000	0
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value (in dollars per share)	$ 18.21	$ 18.77	$ 18.21	$ 0
Restricted Stock Units (RSUs) [Member] | Employee [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)		3,000
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value (in dollars per share)		$ 14.30
Restricted Stock Units (RSUs) [Member] | Certain Employees [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)		90,184
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value (in dollars per share)		$ 18.92
Restricted Stock Units (RSUs) [Member] | Certain Employees [Member] | Share-based Payment Arrangement, Tranche One [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)		60,052
Restricted Stock Units (RSUs) [Member] | Certain Employees [Member] | Share-based Payment Arrangement, Tranche Two [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)		15,066
Restricted Stock Units (RSUs) [Member] | Certain Employees [Member] | Share-based Payment Arrangement, Tranche Three [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)		15,066

Note 8 - Stock-based Compensa_4

Note 8 - Stock-based Compensation - Stock-based Compensation Expense and Related Income Tax Benefit (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Stock-based compensation expense, gross	$ 16	$ 16	$ 7
Income tax benefit at our statutory rate associated with stock-based compensation	(4)	(4)	(2)
Stock-based compensation expense, net	$ 12	$ 12	$ 5

Note 8 - Stock-based Compensa_5

Note 8 - Stock-based Compensation - Summary of Restricted Common Stock Activity (Details) - $ / shares	9 Months Ended	12 Months Ended
	Sep. 30, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Restricted Stock [Member]
Outstanding, Shares (in shares)	578,894	977,547	578,894	503,685
Outstanding, Weighted average grant date fair value (in dollars per share)	$ 13.14	$ 15.45	$ 13.14	$ 11.14
Granted, Shares (in shares)		359,481	751,463	391,836
Granted, Weighted average grant date fair value (in dollars per share)		$ 18.92	$ 16.07	$ 14.63
Vested, Shares (in shares)		(333,865)	(352,810)	(225,570)
Vested, Weighted average grant date fair value (in dollars per share)		$ 15.35	$ 12.98	$ 11.21
Forfeited, Shares (in shares)		(85,630)	0	(91,057)
Forfeited, Weighted average grant date fair value (in dollars per share)		$ 15.53	$ 0	$ 13.27
Outstanding, Shares (in shares)		917,533	977,547	578,894
Outstanding, Weighted average grant date fair value (in dollars per share)		$ 16.84	$ 15.45	$ 13.14
Restricted Stock [Member] | Common Class A [Member]
Outstanding, Shares (in shares)	407,786	449,284	407,786	462,632
Outstanding, Weighted average grant date fair value (in dollars per share)	$ 11.82	$ 13.55	$ 11.82	$ 10.63
Granted, Shares (in shares)		166,814	199,810	220,080
Granted, Weighted average grant date fair value (in dollars per share)		$ 19.87	$ 15.36	$ 12.65
Vested, Shares (in shares)		(136,056)	(158,312)	(274,926)
Vested, Weighted average grant date fair value (in dollars per share)		$ 12.32	$ 11.38	$ 10.48
Outstanding, Shares (in shares)		480,042	449,284	407,786
Outstanding, Weighted average grant date fair value (in dollars per share)		$ 16.10	$ 13.55	$ 11.82
Restricted Stock Units (RSUs) [Member]
Outstanding, Shares (in shares)	0	398,000	0	209,500
Outstanding, Weighted average grant date fair value (in dollars per share)	$ 0	$ 18.21	$ 0	$ 15.70
Granted, Shares (in shares)	398,000	93,184	398,000	0
Granted, Weighted average grant date fair value (in dollars per share)	$ 18.21	$ 18.77	$ 18.21	$ 0
Vested, Shares (in shares)		(374,500)	0	(209,500)
Vested, Weighted average grant date fair value (in dollars per share)		$ 18.18	$ 0	$ 15.70
Forfeited, Shares (in shares)		(26,500)	0	0
Forfeited, Weighted average grant date fair value (in dollars per share)		$ 18.21	$ 0	$ 0
Outstanding, Shares (in shares)		90,184	398,000	0
Outstanding, Weighted average grant date fair value (in dollars per share)		$ 18.92	$ 18.21	$ 0

Note 9 - Leases (Details Textua

Note 9 - Leases (Details Textual) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Operating Lease, Cost	$ 13	$ 11
Short-term Lease, Cost	1	$ 3
Operating Lease, Payments	14
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability	$ 14
Operating Lease, Weighted Average Remaining Lease Term (Year)	10 years 9 months
Operating Lease, Weighted Average Discount Rate, Percent	6.76%
Minimum [Member]
Lessee, Operating Lease, Remaining Lease Term (Year)	1 year
Lessee, Lease, Renewal Term (Year)	1 year
Maximum [Member]
Lessee, Operating Lease, Remaining Lease Term (Year)	99 years
Lessee, Lease, Renewal Term (Year)	20 years

Note 9 - Leases - Maturities of

Note 9 - Leases - Maturities of Operating Lease Liabilities (Details) $ in Millions	Dec. 31, 2020USD ($)
2021	$ 11
2022	10
2023	8
2024	7
2025	7
Thereafter	41
Total lease payments	84
Less: Imputed interest	(26)
Present value of lease liabilities	$ 58

Note 10 - Income Taxes (Details

Note 10 - Income Taxes (Details Textual) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Increase (Decrease) in Obligation, Pension Benefits	$ 10	$ 7	$ (1)
Other Comprehensive (Income) Loss, Defined Benefit Plan, after Reclassification Adjustment, after Tax, Total	(8)	(5)	1
Other Comprehensive (Income) Loss, Defined Benefit Plan, after Reclassification Adjustment, Tax, Total	2	2
Income Taxes Paid, Net, Total	70	$ 23	$ 34
Unrecognized Tax Benefits, Ending Balance	15
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued, Total	1
Domestic Tax Authority [Member]
Operating Loss Carryforwards, Total	204
State and Local Jurisdiction [Member]
Operating Loss Carryforwards, Total	$ 567

Note 10 - Income Taxes - Federa

Note 10 - Income Taxes - Federal and State Income Tax Expense (Benefit) Summary (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Federal	$ 39	$ 8	$ 43
State and local	20	13	11
Current income tax expense	59	21	54
Federal	64	54	17
State and local	11	1	6
Deferred income tax expense	75	55	23
Income tax expense as recorded	$ 134	$ 76	$ 77

Note 10 - Income Taxes - Signif

Note 10 - Income Taxes - Significant Components of Deferred Tax Liabilities and Assets (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Deferred tax liabilities:
Net book value of property and equipment	$ 92	$ 83
Broadcast licenses, goodwill and other intangible assets	878	869
Total deferred tax liabilities	970	952
Deferred tax assets:
Liability for accrued vacation	4	3
Liability for accrued bonus	5	7
Deferred payroll taxes	3	0
Allowance for credit losses	3	3
Liability for pension plan	11	10
Federal operating loss carryforwards	38	87
State and local operating loss carryforwards	21	31
Acquisition costs	2	2
Restricted stock	4	4
Investments	4	4
Interest expense limitation	4	4
Other	1	1
Total deferred tax assets	100	156
Valuation allowance for deferred tax assets	(15)	(14)
Net deferred tax assets	85	142
Deferred tax liabilities, net of deferred tax assets	$ 885	$ 810

Note 10 - Income Taxes - Reconc

Note 10 - Income Taxes - Reconciliation of Income Tax Expense (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Statutory federal rate applied to income before income tax expense	$ 114	$ 53	$ 60
Current year permanent items	3	13	3
State and local taxes, net of federal tax benefit	27	13	14
Change in valuation allowance	1	(2)	0
Net operating loss carryback	(7)	0	0
Other items, net	(4)	(1)	0
Income tax expense as recorded	$ 134	$ 76	$ 77
Effective income tax rate	25.00%	30.00%	27.00%

Note 11 - Retirement Plans (Det

Note 11 - Retirement Plans (Details Textual) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Common Stock, Capital Shares Reserved for Future Issuance (in shares)	4,006,948	6,130,944
Pension Plan [Member] | Gray Pension Plan [Member]
Defined Benefit Plan, Accumulated Benefit Obligation	$ 151	$ 135
Defined Benefit Plan, Expected Future Employer Contributions, Next Fiscal Year	4
Capital Accumulation Plan [Member]
Defined Contribution Plan, Employer Discretionary Contribution Amount	13	11	$ 6
Defined Contribution Plan, Expected Contributions In Next Twelve Months	$ 13
Common Stock, Capital Shares Reserved for Future Issuance (in shares)	960,311
Capital Accumulation Plan [Member] | First 3% of Each Employee's Salary Deferral [Member]
Defined Contribution Plan, Employer Matching Contribution, Percent of Match	100.00%
Defined Contribution Plan, Employer Matching Contribution, Percent of Employees' Gross Pay	1.00%
Capital Accumulation Plan [Member] | Next 2% of Each Employee's Salary Deferral [Member]
Defined Contribution Plan, Employer Matching Contribution, Percent of Match	50.00%
Defined Contribution Plan, Employer Matching Contribution, Percent of Employees' Gross Pay	5.00%
Profit Sharing Contribution [Member]
Defined Contribution Plan, Employer Discretionary Contribution Amount	$ 6	$ 5	$ 4

Note 11 - Retirement Plans - Su

Note 11 - Retirement Plans - Summary of Funded Status and Amounts Recognized on Balance Sheets (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Projected benefit obligation at beginning of year	$ 135	$ 117
Interest cost	4	5	$ 5
Actuarial loss	16	17
Benefits paid	(4)	(4)
Projected benefit obligation at end of year	151	135	117
Fair value of pension plan assets at beginning of year	97	84
Actual return on plan assets	12	14
Company contributions	3	3
Benefits paid	(4)	(4)
Fair value of pension plan assets at end of year	108	97	$ 84
Funded status of pension plan	(43)	(38)
Accrued benefit cost	10	5
Accumulated other comprehensive loss	(53)	(43)
Net liability recognized	$ (43)	$ (38)

Note 11 - Retirement Plans - Es

Note 11 - Retirement Plans - Estimated Rate of Increase in Compensation Levels (Details)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Discount rate	3.14%	4.16%
Expected long-term rate of return on pension plan assets	6.50%	6.50%
Discount rate	2.38%	3.14%

Note 11 - Retirement Plans - Co

Note 11 - Retirement Plans - Components of Net Periodic Benefit Cost for Pension Plans (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Interest cost	$ 4	$ 5	$ 5
Expected return on plan assets	(6)	(5)	(6)
Recognized net actuarial loss	1	0	0
Net periodic pension benefit	$ (1)	$ 0	$ (1)

Note 11 - Retirement Plans - _2

Note 11 - Retirement Plans - Estimated Future Benefit Payments for Subsequent Years (Details) $ in Millions	Dec. 31, 2020USD ($)
2021	$ 4
2022	4
2023	5
2024	5
2025	5
2026 - 2030	$ 31

Note 11 - Retirement Plans - Al

Note 11 - Retirement Plans - Allocation of Plan Assets (Details)	Dec. 31, 2020	Dec. 31, 2019
Plan assets, percent	100.00%	100.00%
Insurance General Account [Member]
Plan assets, percent	15.00%	17.00%
Cash and Cash Equivalents [Member]
Plan assets, percent	3.00%	2.00%
Equity Securities [Member]
Plan assets, percent	48.00%	47.00%
Fixed Income Securities [Member]
Plan assets, percent	32.00%	32.00%
Real Estate [Member]
Plan assets, percent	2.00%	2.00%

Note 11 - Retirement Plans - Ta

Note 11 - Retirement Plans - Target Asset Allocation (Details)	Dec. 31, 2020
Large Cap Value [Member]
Target range	5.00%
Large Cap Value [Member] | Minimum [Member]
Target range	0.00%
Large Cap Value [Member] | Maximum [Member]
Target range	50.00%
Large Cap Blend [Member]
Target range	5.00%
Large Cap Blend [Member] | Minimum [Member]
Target range	0.00%
Large Cap Blend [Member] | Maximum [Member]
Target range	50.00%
Large Cap Growth [Member]
Target range	5.00%
Large Cap Growth [Member] | Minimum [Member]
Target range	0.00%
Large Cap Growth [Member] | Maximum [Member]
Target range	50.00%
Mid-cap Blend [Member]
Target range	15.00%
Mid-cap Blend [Member] | Minimum [Member]
Target range	0.00%
Mid-cap Blend [Member] | Maximum [Member]
Target range	40.00%
Small Cap Core [Member]
Target range	5.00%
Small Cap Core [Member] | Minimum [Member]
Target range	0.00%
Small Cap Core [Member] | Maximum [Member]
Target range	25.00%
Foreign Large Blend [Member]
Target range	10.00%
Foreign Large Blend [Member] | Minimum [Member]
Target range	0.00%
Foreign Large Blend [Member] | Maximum [Member]
Target range	40.00%
Emerging Markets [Member]
Target range	10.00%
Emerging Markets [Member] | Minimum [Member]
Target range	0.00%
Emerging Markets [Member] | Maximum [Member]
Target range	25.00%
Real Estate [Member]
Target range	5.00%
Real Estate [Member] | Minimum [Member]
Target range	0.00%
Real Estate [Member] | Maximum [Member]
Target range	20.00%
US Treasury Securities [Member]
Target range	5.00%
US Treasury Securities [Member] | Minimum [Member]
Target range	0.00%
US Treasury Securities [Member] | Maximum [Member]
Target range	25.00%
Intermediate Term Bond [Member]
Target range	10.00%
Intermediate Term Bond [Member] | Minimum [Member]
Target range	0.00%
Intermediate Term Bond [Member] | Maximum [Member]
Target range	50.00%
US Government Agencies Debt Securities [Member]
Target range	5.00%
US Government Agencies Debt Securities [Member] | Minimum [Member]
Target range	0.00%
US Government Agencies Debt Securities [Member] | Maximum [Member]
Target range	40.00%
High Yield Bond [Member]
Target range	10.00%
High Yield Bond [Member] | Minimum [Member]
Target range	0.00%
High Yield Bond [Member] | Maximum [Member]
Target range	25.00%
Emerging Markets Bond [Member]
Target range	10.00%
Emerging Markets Bond [Member] | Minimum [Member]
Target range	0.00%
Emerging Markets Bond [Member] | Maximum [Member]
Target range	20.00%
Money Market Funds [Member]
Target range	0.00%
Money Market Funds [Member] | Minimum [Member]
Target range	0.00%
Money Market Funds [Member] | Maximum [Member]
Target range	100.00%

Note 11 - Retirement Plans - Pe

Note 11 - Retirement Plans - Pension Plan Fair Value Measurements (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Defined benefit plan, fair value of plan assets	$ 108	$ 97	$ 84
Fair Value, Inputs, Level 1 [Member]
Defined benefit plan, fair value of plan assets	92	81
Fair Value, Inputs, Level 2 [Member]
Defined benefit plan, fair value of plan assets	16	16
Fair Value, Inputs, Level 3 [Member]
Defined benefit plan, fair value of plan assets	0	0
Insurance General Account [Member]
Defined benefit plan, fair value of plan assets	16	16
Insurance General Account [Member] | Fair Value, Inputs, Level 1 [Member]
Defined benefit plan, fair value of plan assets	0	0
Insurance General Account [Member] | Fair Value, Inputs, Level 2 [Member]
Defined benefit plan, fair value of plan assets	16	16
Insurance General Account [Member] | Fair Value, Inputs, Level 3 [Member]
Defined benefit plan, fair value of plan assets	0	0
Cash and Cash Equivalents [Member]
Defined benefit plan, fair value of plan assets	3	2
Cash and Cash Equivalents [Member] | Fair Value, Inputs, Level 1 [Member]
Defined benefit plan, fair value of plan assets	3	2
Cash and Cash Equivalents [Member] | Fair Value, Inputs, Level 2 [Member]
Defined benefit plan, fair value of plan assets	0	0
Cash and Cash Equivalents [Member] | Fair Value, Inputs, Level 3 [Member]
Defined benefit plan, fair value of plan assets	0	0
Equity Securities [Member]
Defined benefit plan, fair value of plan assets	52	46
Equity Securities [Member] | Fair Value, Inputs, Level 1 [Member]
Defined benefit plan, fair value of plan assets	52	46
Equity Securities [Member] | Fair Value, Inputs, Level 2 [Member]
Defined benefit plan, fair value of plan assets	0	0
Equity Securities [Member] | Fair Value, Inputs, Level 3 [Member]
Defined benefit plan, fair value of plan assets	0	0
Fixed Income Securities [Member]
Defined benefit plan, fair value of plan assets	35	31
Fixed Income Securities [Member] | Fair Value, Inputs, Level 1 [Member]
Defined benefit plan, fair value of plan assets	35	31
Fixed Income Securities [Member] | Fair Value, Inputs, Level 2 [Member]
Defined benefit plan, fair value of plan assets	0	0
Fixed Income Securities [Member] | Fair Value, Inputs, Level 3 [Member]
Defined benefit plan, fair value of plan assets	0	0
Real Estate [Member]
Defined benefit plan, fair value of plan assets	2	2
Real Estate [Member] | Fair Value, Inputs, Level 1 [Member]
Defined benefit plan, fair value of plan assets	2	2
Real Estate [Member] | Fair Value, Inputs, Level 2 [Member]
Defined benefit plan, fair value of plan assets	0	0
Real Estate [Member] | Fair Value, Inputs, Level 3 [Member]
Defined benefit plan, fair value of plan assets	$ 0	$ 0

Note 12 - Commitments and Con_3

Note 12 - Commitments and Contingencies - Commitments Summary (Details) $ in Millions	Dec. 31, 2020USD ($)
Contractual obligations, 2021	$ 465
Contractual obligations, 2022	268
Contractual obligations, 2023	261
Contractual obligations, 2024	12
Contractual obligations, 2025	11
Contractual obligations, therafter	11
Contractual obligations, total	1,028
Syndicated Television Programming [Member]
Purchase obligations, 2021	10
Purchase obligations, 2022	28
Purchase obligations, 2023	18
Purchase obligations, 2024	1
Purchase obligations, 2025	0
Purchase obligations, thereafter	0
Purchase obligations, total	57
Network Affiliation Agreements [Member]
Purchase obligations, 2021	435
Purchase obligations, 2022	224
Purchase obligations, 2023	229
Purchase obligations, 2024	0
Purchase obligations, 2025	0
Purchase obligations, thereafter	0
Purchase obligations, total	888
Service and Other Agreements [Member]
Purchase obligations, 2021	20
Purchase obligations, 2022	16
Purchase obligations, 2023	14
Purchase obligations, 2024	11
Purchase obligations, 2025	11
Purchase obligations, thereafter	11
Purchase obligations, total	$ 83

Note 13 - Goodwill and Intang_3

Note 13 - Goodwill and Intangible Assets (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Finite-Lived Intangible Asset, Expected Amortization, Year One	$ 103,000
Finite-Lived Intangible Asset, Expected Amortization, Year Two	99,000
Finite-Lived Intangible Asset, Expected Amortization, Year Three	93,000
Finite-Lived Intangible Asset, Expected Amortization, Year Four	27,000
Finite-Lived Intangible Asset, Expected Amortization, Year Five	18,000
Goodwill, Impairment Loss	$ 0	$ 0	$ 0

Note 13 - Goodwill and Intang_4

Note 13 - Goodwill and Intangible Assets - Changes in Goodwill and Other Intangible Assets (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Goodwill	$ 1,446	$ 612
Goodwill, Net additions	14	834
Goodwill	1,460	1,446	$ 612
Broadcast licenses	3,573
Broadcast licenses	3,579	3,573
Finite-lived intangible assets	460	53
Finite-lived Intangible Assets Acquired	40	522
Amortization of Intangible Assets	(105)	(115)	(21)
Finite-lived intangible assets	395	460	53
Total intangible assets net of accumulated amortization	5,479	2,195
Total intangible assets net of accumulated amortization, Net additions	60	3,399
Total intangible assets net of accumulated amortization	5,434	5,479	2,195
Broadcast Licenses [Member]
Broadcast licenses	3,573	1,530
Indefinite-lived Intangible Assets Acquired	6	2,043
Broadcast licenses	$ 3,579	$ 3,573	$ 1,530

Note 13 - Goodwill and Intang_5

Note 13 - Goodwill and Intangible Assets - Summary of Changes in Goodwill (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Goodwill, gross	$ 1,545	$ 711
Goodwill, Net additions	14	834
Goodwill	0	0
Goodwill, gross	1,559	1,545
Accumulated goodwill impairment	(99)	(99)
Accumulated goodwill impairment	(99)	(99)
Goodwill	1,446	612
Goodwill	$ 1,460	$ 1,446

Note 13 - Goodwill and Intang_6

Note 13 - Goodwill and Intangible Assets - Intangible Assets and Related Accumulated Amortization (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Goodwill, Gross	$ 1,559	$ 1,545	$ 711
Goodwill	1,460	1,446	612
Other intangible assets, net	395	460	53
Total intangible assets, Gross	5,804	5,744
Total intangible assets, Accumulated Amortization	(370)	(265)
Total intangible assets, Net	5,434	5,479	$ 2,195
Network Affiliate [Member]
Finite-Lived Intangible Assets, Gross	67	56
Finite-Lived Intangible Assets, Accumulated Amortization	(28)	(17)
Other intangible assets, net	39	39
Other Intangible Assets [Member]
Finite-Lived Intangible Assets, Gross	644	615
Finite-Lived Intangible Assets, Accumulated Amortization	(288)	(194)
Other intangible assets, net	356	421
Intangible Assets Subject to Amortization [Member]
Finite-Lived Intangible Assets, Gross	711	671
Finite-Lived Intangible Assets, Accumulated Amortization	(316)	(211)
Other intangible assets, net	395	460
Broadcast Licenses [Member]
Indefinite-lived Intangible Assets (Excluding Goodwill), Gross	3,633	3,627
Indefinite-Lived Intangible Assets (Excluding Goodwill), Accumulated Amortization	(54)	(54)
Indefinite-Lived Intangible Assets (Excluding Goodwill)	3,579	3,573
Goodwill Not Amortizable [Member]
Goodwill, Gross	1,460	1,446
Goodwill, Accumulated Amortization	0	0
Goodwill	1,460	1,446
Intangible Assets Not Subject to Amortization [Member]
Goodwill and Indefinite-Lived Intangible Assets, Gross	5,093	5,073
Goodwill and Indefinite-lived Intangible Assets, Accumulated Amortization	(54)	(54)
Goodwill and Indefinite-Lived Assets, Net	$ 5,039	$ 5,019

Note 14 - Segment Information_2

Note 14 - Segment Information (Details Textual)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Number of Operating Segments	2	2	1

Note 14 - Segment Information -

Note 14 - Segment Information - Segment Information (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Revenue (less agency commissions)	$ 792	$ 604	$ 451	$ 534	$ 579	$ 517	$ 508	$ 518	$ 2,381	$ 2,122	$ 1,084
Operating expenses before depreciation, amortization and (gain) loss on disposal of assets, net:									1,457	1,503	637
Depreciation and amortization									201	195	75
(Gain) loss on disposal of assets, net									(29)	(54)	(17)
Total operating expenses									1,629	1,644	695
Operating income	351	$ 212	$ 65	$ 124	180	$ 139	$ 119	$ 40	752	478	389
Interest expense									191	227	107
Capital expenditures (excluding business combinations)									110	110	70
Goodwill	1,460				1,446				1,460	1,446	612
Total assets	7,643				6,972				7,643	6,972	4,213
Corporate, Non-Segment [Member]
Revenue (less agency commissions)									0	0	0
Operating expenses before depreciation, amortization and (gain) loss on disposal of assets, net:									65	104	41
Depreciation and amortization									3	2	1
(Gain) loss on disposal of assets, net									0	0	0
Total operating expenses									68	106	42
Operating income									(68)	(106)	(42)
Interest expense									191	227	107
Capital expenditures (excluding business combinations)									0	5	2
Goodwill	0				0				0	0	0
Total assets	871				289				871	289	1,450
Broadcasting, Segment [Member]
Revenue (less agency commissions)									2,320	2,035	1,084
Operating expenses before depreciation, amortization and (gain) loss on disposal of assets, net:									1,340	1,325	596
Depreciation and amortization									186	180	74
(Gain) loss on disposal of assets, net									(31)	(54)	(17)
Total operating expenses									1,495	1,451	653
Operating income									825	584	431
Interest expense									0	0	0
Capital expenditures (excluding business combinations)									106	104	68
Goodwill	1,419				1,405				1,419	1,405	612
Total assets	6,631				6,530				6,631	6,530	2,763
Production Companies, Segment [Member]
Revenue (less agency commissions)									61	87	0
Operating expenses before depreciation, amortization and (gain) loss on disposal of assets, net:									52	74	0
Depreciation and amortization									12	13	0
(Gain) loss on disposal of assets, net									2	0	0
Total operating expenses									66	87	0
Operating income									(5)	0	0
Interest expense									0	0	0
Capital expenditures (excluding business combinations)									4	1	0
Goodwill	41				41				41	41	0
Total assets	$ 141				$ 153				$ 141	$ 153	$ 0

Note 15 - Selected Quarterly _3

Note 15 - Selected Quarterly Financial Data (Unaudited) - Schedule of Selected Quarterly Financial Data (Unaudited) (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Revenue (less agency commissions)	$ 792	$ 604	$ 451	$ 534	$ 579	$ 517	$ 508	$ 518	$ 2,381	$ 2,122	$ 1,084
Operating income	351	212	65	124	180	139	119	40	752	478	389
Net income (loss) attributable to common stockholders	$ 211	$ 109	$ (2)	$ 40	$ 81	$ 46	$ 31	$ (31)	$ 358	$ 127	$ 211
Basic net income (loss) attributable to common stockholders per share (in dollars per share)	$ 2.24	$ 1.15	$ (0.02)	$ 0.41	$ 0.82	$ 0.46	$ 0.31	$ (0.31)	$ 3.73	$ 1.28	$ 2.39
Net income attributable to common stockholders (in dollars per share)	$ 2.22	$ 1.14	$ (0.02)	$ 0.40	$ 0.81	$ 0.46	$ 0.31	$ (0.31)	$ 3.69	$ 1.27	$ 2.37

Note 16 - Subsequent Events (De

Note 16 - Subsequent Events (Details Textual) - USD ($) $ / shares in Units, $ in Millions	Feb. 24, 2021	Jan. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Feb. 18, 2021	Jan. 02, 2019
Common Stock, Dividends, Per Share, Declared (in dollars per share)			$ 0	$ 0	$ 0
Revolving Credit Facility [Member] | The 2019 Senior Credit Facility [Member]
Line of Credit Facility, Maximum Borrowing Capacity							$ 200
Subsequent Event [Member] | Common Stock and Class A Common Stock [Member]
Common Stock, Dividends, Per Share, Declared (in dollars per share)	$ 0.08
Dividends Payable, Date to be Paid	Mar. 31, 2021
Dividends Payable, Date of Record	Mar. 15, 2021
Subsequent Event [Member] | Revolving Credit Facility [Member] | The Amended 2019 Senior Credit Facility [Member]
Line of Credit Facility, Maximum Borrowing Capacity						$ 300
Quincy [Member] | Subsequent Event [Member]
Payments to Acquire Businesses, Gross		$ 925
Business Acquisition, Termination Option, Fee		$ 25

Schedule II - Valuation and Q_3

Schedule II - Valuation and Qualifying Accounts - Summary of Valuation Allowance (Details) - USD ($) $ in Millions		12 Months Ended
		Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
SEC Schedule, 12-09, Allowance, Credit Loss [Member]
Beginning balance		$ 11	$ 5	$ 5
Charged to costs and expenses		2	11	2
Charged to other accounts		0	0	0
Deductions	[1]	(3)	(5)	(2)
Ending balance		10	11	5
SEC Schedule, 12-09, Valuation Allowance, Deferred Tax Asset [Member]
Beginning balance		14	0	0
Charged to costs and expenses		1	14	0
Charged to other accounts		0	0	0
Deductions	[1]	0	0	0
Ending balance		$ 15	$ 14	$ 0
[1]	Deductions from allowance for doubtful accounts represent write-offs of receivable balances not considered collectible. The deduction from the valuation allowance for deferred tax assets represents changes in estimates of our future taxable income and our estimated future usage of certain net operating loss carryforwards, as well as expiration of certain net operating loss carryforwards.