Gray Television (GTN) 10-K 25 Feb 22 2021 FY Annual report Financial data

Document And Entity Information

Document And Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2021	Feb. 18, 2022	Jun. 30, 2021
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	2021
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2021
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
Entity Address, City or Town	NE 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			$ 2,006,295,444
Auditor Name	RSM US LLP
Auditor Location	Atlanta, Georgia
Auditor Firm ID	49
ICFR Auditor Attestation Flag	true
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		7,560,937
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		87,742,758

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Assets:
Cash	$ 189	$ 773
Accounts receivable, less allowance for credit losses of $16 and $10, respectively	624	425
Current portion of program broadcast rights, net	35	24
Income tax refunds receivable	21	21
Prepaid income taxes	40	0
Prepaid and other current assets	54	61
Total current assets	963	1,304
Property and equipment, net	1,165	737
Operating lease right of use asset	70	57
Broadcast licenses	5,303	3,579
Goodwill	2,649	1,460
Other intangible assets, net	825	395
Investments in broadcasting and technology companies	117	72
Other	16	39
Total assets	11,108	7,643
Liabilities and stockholders’ equity:
Accounts payable	59	10
Employee compensation and benefits	97	53
Accrued interest	52	37
Accrued network programming fees	34	39
Other accrued expenses	44	29
Federal and state income taxes	10	20
Current portion of program broadcast obligations	37	25
Deferred revenue	14	22
Dividends payable	13	13
Current portion of operating lease liabilities	9	7
Current portion of long-term debt	15	0
Total current liabilities	384	255
Long-term debt, less deferred financing costs	6,740	3,974
Program broadcast obligations, less current portion	5	5
Deferred income taxes	1,471	885
Accrued pension costs	24	43
Operating lease liabilities, less current portion	63	51
Other	14	27
Total liabilities	8,701	5,240
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	1,127	1,110
Retained earnings	869	862
Accumulated other comprehensive loss	(27)	(39)
Stockholders' equity before treasury stock	2,008	1,967
Treasury stock at cost	(223)	(188)
Total stockholders’ equity	1,757	1,753
Total liabilities and stockholders’ equity	11,108	7,643
Common Class A [Member]
Stockholders’ equity:
Common stock	39	34
Treasury stock at cost	$ (28)	$ (26)

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parentheticals) - USD ($) $ / shares in Thousands, $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Accounts receivable, allowance for credit losses	$ 16	$ 10
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)	104,286,324	103,100,856
Common stock, shares outstanding (in shares)	87,539,056	88,140,259
Treasury stock (in shares)	16,747,268	14,960,597
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)	9,424,691	8,935,773
Common stock, shares outstanding (in shares)	7,426,512	7,048,006
Treasury stock (in shares)	1,998,179	1,887,767

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Revenue (less agency commissions)	$ 2,413	$ 2,381	$ 2,122
Corporate and administrative	159	65	104
Depreciation	104	96	80
Amortization of intangible assets	117	105	115
Loss (gain) on disposal of assets, net	42	(29)	(54)
Operating expenses, net	2,032	1,629	1,644
Operating income	381	752	478
Other income (expense):
Miscellaneous (expense) income, net	(8)	(5)	4
Interest expense	(205)	(191)	(227)
Loss on early extinguishment of debt	0	(12)	0
Income before income taxes	168	544	255
Income tax expense	78	134	76
Net income	90	410	179
Preferred stock dividends	52	52	52
Net income attributable to common stockholders	$ 38	$ 358	$ 127
Basic per share information:
Net income attributable to common stockholders (in dollars per share)	$ 0.40	$ 3.73	$ 1.28
Weighted average shares outstanding (in shares)	95	96	99
Diluted per share information:
Net income attributable to common stockholders (in dollars per share)	$ 0.40	$ 3.69	$ 1.27
Weighted average shares outstanding (in shares)	95	97	100
Dividends declared per common share (in dollars per share)	$ 0.32	$ 0	$ 0
Broadcasting, Segment [Member]
Revenue (less agency commissions)	$ 2,340	$ 2,320	$ 2,035
Cost of goods and services sold	1,548	1,340	1,325
Operating expenses, net	1,795	1,495	1,451
Operating income	545	825	584
Other income (expense):
Interest expense	0	0	0
Production Companies, Segment [Member]
Revenue (less agency commissions)	73	61	87
Cost of goods and services sold	62	52	74
Operating expenses, net	74	66	87
Operating income	(1)	(5)	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, 2021	Dec. 31, 2020	Dec. 31, 2019
Net income	$ 90	$ 410	$ 179
Other comprehensive income (loss):
Adjustment to pension liability	16	(10)	(7)
Income tax expense (benefit)	4	(2)	(2)
Adoption of ASU 2018-02			0
Other comprehensive income (loss)	12	(8)	(10)
Comprehensive income	102	402	169
AOCI Attributable to Parent [Member]
Net income	0	0	0
Other comprehensive income (loss):
Adoption of ASU 2018-02	$ 0	$ 0	$ (5)

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, 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
Preferred stock dividends															0	0	(52)	0	0	0	(52)
Adjustment to pension liability, net of income tax															$ 0	$ 0	0	$ 0	$ 0	(5)	(5)
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
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
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
Preferred stock dividends															0	0	(52)	0	0	0	(52)
Adjustment to pension liability, net of income tax															$ 0	$ 0	0	$ 0	$ 0	(8)	(8)
401(k) Plan (in shares)															0	430,899		0	0
401(k) Plan															$ 0	$ 4	0	$ 0	$ 0	0	4
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)
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
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 (in shares)															0	(85,630)		0	0
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
Net income															0	0	90	0	0	0	90
Preferred stock dividends															0	0	(52)	0	0	0	(52)
Adjustment to pension liability, net of income tax															$ 0	$ 0	0	$ 0	$ 0	12	12
401(k) Plan (in shares)															0	394,044		0	0
401(k) Plan															$ 0	$ 8	0	$ 0	$ 0	0	8
Restricted stock awards (in shares)	488,918	731,374		(110,412)	(267,308)			0	60,050		0	(18,275)
Restricted stock awards	$ 0	$ 0	$ 0	$ (2)	$ (5)	$ 0	$ (7)
Repurchase of common stock (in shares)															0	0		0	(1,501,088)
Repurchase of common stock															$ 0	$ 0	0	$ 0	$ (30)	0	(30)
Stock-based compensation															5	9	0	0	0	0	14
Adoption of ASU 2018-02																				0
Common stock dividends															$ 0	$ 0	(31)	$ 0	$ 0	0	(31)
Balance (in shares) at Dec. 31, 2021															9,424,691	104,286,324		(1,998,179)	(16,747,268)
Balance at Dec. 31, 2021															$ 39	$ 1,127	$ 869	$ (28)	$ (223)	$ (27)	$ 1,757

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Cash flows from operating activities:
Net income	$ 90	$ 410	$ 179
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	104	96	80
Amortization of intangible assets	117	105	115
Amortization of deferred loan costs	12	12	12
Accretion of original issue discount and premium related to long-term debt, net	(1)	(1)	(1)
Amortization of restricted stock awards	14	16	16
Amortization of program broadcast rights	38	38	39
Payments on program broadcast obligations	(38)	(39)	(43)
Common stock contributed to 401(k) plan	8	6	4
Deferred income taxes	(22)	75	55
Loss (gain) on disposal of assets, net	42	(29)	(54)
Loss on early extinguishment of debt	0	12	0
Other	(14)	12	7
Changes in operating assets and liabilities, net of acquisitions:
Accounts receivable	(30)	(14)	22
Income tax receivable or prepaid	(40)	(21)	0
Other current assets	10	(36)	(7)
Accounts payable	22	(1)	(1)
Employee compensation, benefits and pension costs	21	(16)	3
Accrued network fees and other expenses	(27)	7	(41)
Accrued interest	14	0	3
Income taxes payable	(8)	7	(6)
Deferred revenue	(12)	13	3
Net cash provided by operating activities	300	652	385
Cash flows from investing activities:
Acquisitions of television businesses and licenses, net of cash acquired	(3,765)	(91)	(2,837)
Proceeds from sale of television stations	473	0	253
Purchases of property and equipment	(207)	(110)	(110)
Proceeds from Repack reimbursement (Note 1)	11	29	41
Proceeds from asset sales	5	9	3
Investments in broadcast, production and technology companies	(49)	(48)	0
Other	(2)	0	(6)
Net cash used in investing activities	(3,534)	(211)	(2,656)
Cash flows from financing activities:
Borrowings - long-term debt	2,800	800	1,400
Repayments - long-term debt	0	(525)	(211)
Borrowings - revolving credit facility	250	0	0
Repayments - revolving credit facility	(250)	0	0
Repurchases of common stock	(30)	(75)	(32)
Common stock dividends	(31)	0	0
Preferred stock dividends	(52)	(52)	(39)
Deferred and other loan costs	(30)	(22)	(50)
Payments for taxes related to net share settlement of equity awards	(7)	(6)	(4)
Net cash provided by financing activities	2,650	120	1,064
Net (decrease) increase in cash	(584)	561	(1,207)
Cash and restricted cash at beginning of year	773	212	1,419
Cash and restricted cash at end of year	$ 189	$ 773	$ 212

Note 1 - Description of Busines

Note 1 - Description of Business and Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2021
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. first second Investments in Broadcasting, Production and Technology Companies. may Investments in non-public businesses that do not not not Use of Estimates. Allowance for Credit Losses. December 31, 2021, 2020 2019, 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 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 consolidated balance sheets (in millions): Year Ended December 31, 2021 2020 Beginning balance $ 10 $ 11 Allowance obtained through acquisition 3 - Provision for credit losses 4 2 Amounts written off (1 ) (3 ) Ending balance $ 16 $ 10 Program Broadcast Rights. two first Wheel of Fortune The Big Bang Theory 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 2021 2020 (in years) Property and equipment, net: Land $ 277 $ 123 Buildings and improvements 453 305 7 to 40 Equipment 961 780 3 to 20 Construction in progress 63 54 1,754 1,262 Accumulated depreciation (589 ) (525 ) Total $ 1,165 $ 737 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. 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, 2021 2020 2019 (Loss) gain on disposal of assets, net: Proceeds from sale of assets $ 478 $ 9 $ 253 Proceeds from Repack 11 29 41 Net book value of assets disposed (531 ) (9 ) (240 ) Total $ (42 ) $ 29 $ 54 Purchase of property and equipment: Recurring purchases - operations $ 90 $ 87 $ 89 Assembly Atlanta development 109 - - Repack 8 23 20 Repack related - - 1 Total $ 207 $ 110 $ 110 Deferred Loan Costs. Asset Retirement Obligations. 2062. December 31, 2021 2020, December 31, 2021, 2020 2019, not Concentration of Credit Risk. not We derived a material portion of our non-political broadcast advertising revenue from advertisers in a limited number of industries, particularly the services sector, comprising financial, legal and medical advertisers, and the automotive industry. The services sector has become an increasingly important source of advertising revenue over the past few years. During the years ended December 31, 2021, 2020 2019 December 31, 2021, 2020 2019 no one 5% Earnings 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, 2021, 2020 2019 Year Ended December 31, 2021 2020 2019 Weighted average shares outstanding, basic 95 96 99 Weighted average shares underlying stock options and restricted shares - 1 1 Weighted average shares outstanding, diluted 95 97 100 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 in business combination transactions. 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, our broadcast television stations as a whole, and each of our 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, 2021 2020 December 31, 2021 2020 Items included in accumulated other comprehensive loss: Increase in pension liability $ (36 ) $ (52 ) Income tax benefit (9 ) (13 ) Accumulated other comprehensive loss $ (27 ) $ (39 ) Recent Accounting Pronouncements. March 2020, 2020 04, Reference Rate Reform (Topic 848 January 2021, 2020 04, 2021 01, Reference Rate Reform (Topic 848 848. may March 12, 2020, In addition to the accounting standards described above, certain amounts in the 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, 2021
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 $21 million of revenue in the year ended December 31, 2021 December 31, 2020. December 31, 2021 2020, Disaggregation of Revenue. Year Ended December 31, 2021 2020 2019 Market and service type: Advertising: Local $ 934 $ 771 $ 898 National 256 198 229 Political 44 430 68 Total advertising 1,234 1,399 1,195 Retransmission consent 1,049 867 796 Production companies 73 61 87 Other 57 54 44 Total revenue $ 2,413 $ 2,381 $ 2,122 Sales channel: Direct $ 1,579 $ 1,302 $ 1,270 Advertising agency intermediary 834 1,079 852 Total revenue $ 2,413 $ 2,381 $ 2,122

Note 3 - Acquisitions and Dives

Note 3 - Acquisitions and Divestitures	12 Months Ended
	Dec. 31, 2021
Notes to Financial Statements
Mergers, Acquisitions and Dispositions Disclosures [Text Block]	3. Acquisitions and Divestitures During 2021, 2020 2019, third 2021 Meredith Transaction. December 1, 2021, September 23, 2021, 66 The following table lists the 17 12 11 Current DMA Rank DMA Station Call Letters Network Affiliations 10 Atlanta, GA WCGL/WPCH CBS/Ind. 12 Phoenix, AZ KPHO/KTVK CBS/Ind. 23 St. Louis, MO KMOV CBS 26 Portland, OR KPTV/KPDX FOX/MY 28 Nashville, TN WSMV NBC 29 Hartford - New Haven, CT WFSB CBS 32 Kansas City, MO KCTV/KSMO CBS/MY 38 Greenville - Spartanburg, SC WHNS FOX 41 Las Vegas, NV KVVU FOX 60 Mobile, AL - Pensacola, FL WALA FOX 66 Flint - Saginaw, MI WNEM CBS 113 Springfield, MA WGGB/WSHM ABC/FOX/CBS Quincy Transaction. August 2, 2021, August 2, 2021, seven December 31, 2021. The following table lists the stations acquired and retained, net of divestitures: Current DMA Rank DMA Station Call Letters Network Affiliations 103 Fort Wayne, IN WPTA/WISE ABC/NBC/CW 119 Peoria, IL WEEK NBC/ABC/CW 134 Duluth, MN, Superior, WI KBJR/KDLH NBC/CBS/CW 147 Sioux City, IA KTIV NBC/CW 152 Binghamton, NY WBNG CBS/CW 153 Rochester, MN - Mason City, IA KTTC NBC/CW 161 Bluefield-Beckley, WV WVVA NBC/CW 174 Quincy, IL WGEM NBC/FOX/CW The following stations were acquired and divested in the Quincy Transaction: Current DMA Rank DMA Station Call Letters Network Affiliations 76 Madison, WI WKOW ABC 80 Tucson, AZ KVOA NBC 92 Paducah, KY - Harrisburg, IL WSIL ABC 94 Cedar Rapids, IA KWWL NBC 128 La Crosse-Eau Claire, WI WXOW ABC 135 Wausau-Stevens Point, WI WAOW ABC 136 Rockford, IL WREX NBC The following table summarizes the allocation of consideration paid in the Quincy Transaction (in millions): Adjusted purchase price $ 936 Less - consideration allocated to assets acquired and liabilities assumed for the Quincy overlap markets that were divested on August 2, 2021 383 Purchase consideration for assets acquired and liabilities assumed, net of divestitures $ 553 Third Rail Acquisition. September 13, 2021, Purchase Price Allocations “2021 Meredith Quincy Third Rail Total Cash $ 1 $ 4 $ - $ 5 Accounts receivable, net 147 23 - 170 Other current assets 18 5 - 23 Property and equipment 235 74 24 333 Operating lease right of use asset 15 1 - 16 Goodwill 1,012 190 4 1,206 Broadcast licenses 1,516 245 - 1,761 Other intangible assets 455 85 - 540 Other current liabilities (104 ) (7 ) (1 ) (112 ) Deferred income taxes (477 ) (66 ) - (543 ) Operating lease liabilities (15 ) (1 ) - (16 ) Total $ 2,803 $ 553 $ 27 $ 3,383 Due to the proximity of the acquisition date of the Meredith Transaction, the Quincy Transaction and the Third Rail Acquisition to the date of the filing of this annual report, these amounts are based upon management’s preliminary estimate of the fair values using valuation techniques including income, cost and market approaches. The preliminary values of property and equipment, broadcast licenses, other intangible assets and goodwill are the most likely to be subject to further adjustment as we continue to assume the operation of the acquired property and equipment and to review the detail calculations of the values of the intangible assets. In determining the preliminary fair value of the acquired assets and assumed liabilities, the fair values were estimated 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 were approximately $3 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 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 In addition, we acquired broadcast licenses totaling approximately $4 million that did not The Company’s consolidated results of operations for the year ended December 31, 2021 December 1, 2021, August 2, 2021 September 13, 2021. 2021 December 31, 2021 The following table summarizes the approximate “Transaction Related Expenses” incurred in connection with the 2021 December 31, 2021, Year Ended December 31, 2021 Transaction Related Expenses by type: Legal, consulting and other professional fees $ 80 Termination of sales representation and other agreements 1 Total Transaction Related Expenses $ 81 Transaction Related Expenses by financial statement line item: Operating expenses before depreciation, amortization and loss (gain) on disposal of assets, net: Broadcasting $ 3 Corporate and administrative 71 Miscellaneous Expense 7 Total Transaction Related Expenses $ 81 Unaudited Pro Forma Financial Information 2021 December 31, 2021 2020, 2021 January 1, 2020 Year Ended Year Ended December 31, December 31, 2021 2020 Revenue (less agency commissions) $ 3,153 $ 3,353 Net income $ 199 $ 488 Net income attributable to common stockholders $ 147 $ 436 Basic net income attributable to common stockholders, per share $ 2.09 $ 4.54 Diluted net income attributable to common stockholders, per share $ 2.09 $ 4.49 This pro forma financial information is based on our historical results of operations and the historical results of operations of the businesses acquired, net of divestitures, included in the 2021 not 2021 January 1, 2020, December 31, 2021 2020 2020 Alaska Transactions. July 31, 2020, 149 207, Columbus Transactions. September 1, 2020, 129 Sioux Falls Transactions November 2, 2020, one 115 Lubbock Transactions December 31, 2020, 141 two In addition, we acquired broadcast licenses totaling approximately $5 million that did not The following table summarizes the preliminary values of the assets acquired and resulting goodwill of the Lubbock Transactions, Alaska Transactions, Columbus Transactions and the Sioux Falls Transactions (in millions): 2020 Acquisitions Lubbock Alaska Columbus Sioux Falls Total Accounts receivable and other current assets $ - $ 1 $ - $ - $ 1 Property and equipment 6 5 2 - 13 Operating lease right of use asset 1 - - - 1 Goodwill 6 2 1 11 20 Broadcast licenses 5 2 - - 7 Other intangible assets 7 9 19 11 46 Other current liabilities (1 ) - - - (1 ) Total $ 24 $ 19 $ 22 $ 22 $ 87 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, 2021 2020 not Transaction Related Expenses incurred in connection with the 2020 December 31, 2020, 2019 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 16 Tampa-St. Petersburg (Sarasota), FL WWSB ABC 19 Cleveland/Akron (Canton) WOIO CBS 19 Cleveland/Akron (Canton) WUAB CW 22 Charlotte, NC WBTV CBS 31 West Palm Beach/Ft. Pierce, FL WFLX FOX 33 Cincinnati, OH WXIX FOX 48 Louisville, KY WAVE NBC 50 Birmingham (Anniston and Tuscaloosa), AL WBRC FOX 52 Memphis, TN WMC NBC 54 New Orleans, LA WVUE FOX 55 Richmond/Petersburg, VA WWBT NBC 55 Richmond/Petersburg, VA WUPV CW 63 Honolulu, HI KHNL NBC 63 Honolulu, HI KGMB CBS 63 Honolulu, HI KHBC NBC/CBS 63 Honolulu, HI KOGG NBC/CBS 79 Columbia, SC WIS NBC 80 Tucson/Nogales, AZ KOLD CBS 81 Huntsville/Decatur/Florence, AL WAFF NBC 85 Myrtle Beach/Florence, SC WMBF NBC 90 Charleston, SC WCSC CBS 91 Savannah, GA WTOC CBS 92 Paducah, KY/Cape Girardeau, MO/Harrisburg, IL KFVS CBS 95 Baton Rouge, LA WAFB CBS 95 Baton Rouge, LA WBXH MY 96 Shreveport, LA KSLA CBS 98 Jackson, MS WLBT NBC 106 Evansville, IN WFIE NBC 107 Boise, ID KNIN FOX 110 Tyler/Longview, TX KLTV ABC 110 Tyler/Longview, TX KTRE ABC 117 Wilmington, NC WECT NBC 118 Montgomery, AL WSFA NBC 129 Columbus, GA/Opelika, AL WTVM ABC 138 Amarillo, TX KFDA CBS 138 Amarillo, TX KEYU TEL 141 Lubbock, TX KCBD NBC 154 Biloxi/Gulfport, MS WLOX ABC/CBS 155 Odessa/Midland, TX KWAB CW 155 Odessa/Midland, TX KTLE TEL 157 Wichita Falls, TX/Lawton, OK KSWO ABC 157 Wichita Falls, TX/Lawton, OK KKTM TEL 160 Albany, GA WALB NBC/ABC 166 Hattiesburg/Laurel, MS WDAM NBC/ABC 181 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 59 WFXG Augusta, GA 111 WPGX Panama City, FL 140 WDFX Dothan, AL 172 Scripps Media, Inc. 55 KXXV Waco/Temple/Bryan, TX 93 KRHD Waco/Temple/Bryan, TX 93 WTXL Tallahassee, FL 114 TEGNA, Inc. 109 WTOL Toledo, OH 78 KWES Odessa/Midland, TX 155 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 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, 173 190 March 1, 2019 Sioux Falls Acquisition. September 25, 2019, 115 Charlottesville Acquisition and Divestiture October 1, 2019, 188 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 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 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

Note 4 - Long-term Debt

Note 4 - Long-term Debt	12 Months Ended
	Dec. 31, 2021
Notes to Financial Statements
Debt Disclosure [Text Block]	4. Long-term Debt As of December 31, 2021, 2019 2026 “2026 2027 “2027 2030 “2030 2031 “2031 December 31, 2020, 2019 2026 2027 2030 December 31, 2021 2020 Long-term debt: 2019 Senior Credit Facility: 2017 Term Loan $ 595 $ 595 2019 Term Loan 1,190 1,190 2021 Term Loan 1,500 - 2026 Notes 700 700 2027 Notes 750 750 2030 Notes 800 800 2031 Notes 1,300 - Total outstanding principal 6,835 4,035 Unamortized deferred loan costs - 2017 Term Loan (7 ) (4 ) Unamortized deferred loan costs - 2019 Term Loan (27 ) (30 ) Unamortized deferred loan costs - 2021 Term Loan (5 ) - Unamortized deferred loan costs - 2026 Notes (5 ) (6 ) Unamortized deferred loan costs - 2027 Notes (8 ) (10 ) Unamortized deferred loan costs - 2030 Notes (13 ) (14 ) Unamortized deferred loan costs - 2031 Notes (18 ) - Unamortized premium - 2026 Notes 3 3 Less current portion (15 ) - Long-term debt, less deferred financing costs $ 6,740 $ 3,974 Borrowing availability under Revolving Credit Facility $ 497 $ 200 2021 December 1, 2021, 2021 March 31, 2022. 2021 December 1, 2028. Borrowings under the 2021 2019 2017 December 31, 2021, 2021 2019 2017 2019 2017 January 2, 2026 February 7, 2024, On November 9, 2021, 2031 2031 2031 2030 2027 2026 2031 November 15, 2031. May 15 November 15 As of December 31, 2021, Minimum Principal Maturities 2019 Senior 2026 2027 2030 2031 Year Credit Facility Notes Notes Notes Notes Total 2022 $ 15 $ - $ - $ - $ - $ 15 2023 15 - - - - 15 2024 610 - - - - 610 2025 15 - - - - 15 2026 1,205 700 - - - 1,905 Thereafter 1,425 - 750 800 1,300 4,275 Total $ 3,285 $ 700 $ 750 $ 800 $ 1,300 $ 6,835 Collateral, Covenants and Restrictions. 2019 2019 no 2026 2027 2030 2031 not 2026 2027 2030 2031 not December 31, 2021, no The 2019 2026 2027 2030 2031 December 31, 2021 2020, Interest Payments. 2021, 2020 2019, not Amendments February 19, 2021, 2019 2019 December 1, 2021, 2019 2019 2017 2019 third December 31, 2021.

Note 5 - Fair Value Measurement

Note 5 - Fair Value Measurement	12 Months Ended
	Dec. 31, 2021
Notes to Financial Statements
Fair Value Disclosures [Text Block]	5. Fair Value Measurement 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 measurement. 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, 2021 2020. As of December 31, 2021, December 31, 2020, third 2.

Note 6 - Stockholders' Equity

Note 6 - Stockholders' Equity	12 Months Ended
	Dec. 31, 2021
Notes to Financial Statements
Stockholders' Equity Note Disclosure [Text Block]	6. Stockholders Equity 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 December 31, 2021, December 31, 2020 2019, not On November 5, 2019, December 31, 2022 ( “2019 2019 “401k During the fourth 2019, During the first second 2020, “2019 10b 18 10b5 1 1934. 2019 2020, 2019 second 2020. In the second third 2020, 2019 On November 4, 2020, 2019 December 31, 2023. 2020, On December 16, 2021, 2019 “2021 10b 18 10b5 1 1934. 2021, 2021 December 31, 2021, 2019 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, 2021, December 31, 2020,

Note 7 - Preferred Stock

Note 7 - Preferred Stock	12 Months Ended
	Dec. 31, 2021
Notes to Financial Statements
Preferred Stock [Text Block]	7. Preferred Stock 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, 2021
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, 2021, 2020 2019 Year Ended December 31, 2021 2020 2019 Stock-based compensation expense, gross $ 14 $ 16 $ 16 Income tax benefit at our statutory rate associated with stock-based compensation (4 ) (4 ) (4 ) Stock-based compensation expense, net $ 10 $ 12 $ 12 Currently, the 2017 2017 As of December 31, 2021, 2017 December 31, 2021, A summary of activity for the years ended December 31, 2021, 2020 2019 Year Ended December 31, 2021 2020 2019 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 917,533 $ 16.84 977,547 $ 15.45 578,894 $ 13.14 Granted 731,374 19.73 359,481 18.92 751,463 16.07 Vested (613,179 ) 15.48 (333,865 ) 15.35 (352,810 ) 12.98 Forfeited - - (85,630 ) 15.53 - - Outstanding - end of period 1,035,728 $ 19.69 917,533 $ 16.84 977,547 $ 15.45 Restricted stock - Class A common: Outstanding - beginning of period 480,042 $ 16.10 449,284 $ 13.55 407,786 $ 11.82 Granted 488,918 18.66 166,814 19.87 199,810 15.36 Vested (248,539 ) 15.00 (136,056 ) 12.32 (158,312 ) 11.38 Outstanding - end of period 720,421 $ 18.22 480,042 $ 16.10 449,284 $ 13.55 Restricted stock units - common: Outstanding - beginning of period 90,184 $ 18.92 398,000 $ 18.21 - $ - Granted 95,115 19.05 93,184 18.77 398,000 18.21 Vested (60,052 ) 18.92 (374,500 ) 18.18 - - Forfeited - - (26,500 ) 18.21 - - Outstanding - end of period 125,247 $ 19.02 90,184 $ 18.92 398,000 $ 18.21

Note 9 - Leases

Note 9 - Leases	12 Months Ended
	Dec. 31, 2021
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 We recognize leases with an initial term of 12 Our operating lease expenses, including variable leases, were $12 million and $13 million for the years ended December 31, 2021 2020, December 31, 2021 2020 not December 31, 2021 2020, December 31, 2021 2020 December 31, 2021, The maturities of operating lease liabilities were as follows (in millions): Year: 2022 $ 13 2023 11 2024 11 2025 10 2026 9 Thereafter 46 Total lease payments 100 Less: Imputed interest (28 ) Present value of lease liabilities $ 72

Note 10 - Income Taxes

Note 10 - Income Taxes	12 Months Ended
	Dec. 31, 2021
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, 2021 2020 2019 Current: Federal $ 74 $ 39 $ 8 State and local 26 20 13 Current income tax expense 100 59 21 Deferred: Federal (12 ) 64 54 State and local (10 ) 11 1 Deferred income tax expense (22 ) 75 55 Total income tax expense $ 78 $ 134 $ 76 Significant components of our deferred tax liabilities and assets are as follows (in millions): December 31, 2021 2020 Deferred tax liabilities: Net book value of property and equipment $ 146 $ 92 Broadcast licenses, goodwill and other intangible assets 1,373 878 Total deferred tax liabilities 1,519 970 Deferred tax assets: Liability for accrued vacation 5 4 Liability for accrued bonus 9 5 Deferred payroll taxes 2 3 Allowance for credit losses 4 3 Liability for pension plan 6 11 Federal operating loss carryforwards 2 38 State and local operating loss carryforwards 24 21 Acquisition costs 2 2 Restricted stock 4 4 Investments 4 4 Interest expense limitation 4 4 Other 4 1 Total deferred tax assets 70 100 Valuation allowance for deferred tax assets (22 ) (15 ) Net deferred tax assets 48 85 Deferred tax liabilities, net of deferred tax assets $ 1,471 $ 885 As of December 31, 2021, 2022. 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, 2021, 2020 2019 Year Ended December 31, 2021 2020 2019 Statutory federal rate applied to income before income tax expense $ 35 $ 114 $ 53 Current year permanent items 33 3 13 State and local taxes, net of federal tax benefit 10 27 13 Change in valuation allowance - 1 (2 ) Net operating loss carryback - (7 ) - Other items, net - (4 ) (1 ) Income tax expense as recorded $ 78 $ 134 $ 76 Effective income tax rate 46 % 25 % 30 % 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 2021, 2020, 2019, We made income tax payments (net of refunds) of $149 million, $70 million and $23 million, during the years ended December 31, 2021, 2020 2019, 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, 2021, December 31, 2021, no twelve On March 27, 2020, 19 2019 2020, 100% 2021. 2018, 2019, 2020 five 2020, 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, 2021
Notes to Financial Statements
Retirement Benefits [Text Block]	11. Retirement Plans We sponsor and contribute to defined benefit and defined contribution retirement plans. The Gray Television, Inc. Retirement Plan (“Gray Pension Plan”) is a defined benefit 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, 2021 2020, December 31, 2021 2020, December 31, 2021 2020 Change in projected benefit obligation: Projected benefit obligation at beginning of year $ 151 $ 135 Interest cost 4 4 Actuarial (gain) loss (11 ) 16 Benefits paid (4 ) (4 ) Projected benefit obligation at end of year $ 140 $ 151 Change in plan assets: Fair value of pension plan assets at beginning of year $ 108 $ 97 Actual return on plan assets 12 12 Company contributions 3 3 Benefits paid (4 ) (4 ) Fair value of pension plan assets at end of year 119 108 Funded status of pension plan $ (21 ) $ (43 ) Amounts recognized on our balance sheets consist of: Accrued benefit cost $ 15 $ 10 Accumulated other comprehensive loss (36 ) (53 ) Net liability recognized $ (21 ) $ (43 ) 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 $140 million and $151 million at December 31, 2021 2020, not Year Ended December 31, 2021 2020 Weighted-average assumptions used to determine net periodic benefit cost for the Gray Pension Plan: Discount rate 2.38 % 3.14 % Expected long-term rate of return on pension plan assets 6.25 % 6.50 % Estimated rate of increase in compensation levels N/A N/A As of December 31, 2021 2020 Weighted-average assumptions used to determine benefit obligations: Discount rate 2.73 % 2.38 % 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, 2021 2020 2019 Components of net periodic pension cost: Interest cost $ 4 $ 4 $ 5 Expected return on plan assets (7 ) (6 ) (5 ) Recognized net actuarial loss 1 1 - Net periodic pension benefit $ (2 ) $ (1 ) $ - For the Gray Pension Plan, the estimated future benefit payments are as follows (in millions): Years Amount 2022 $ 4 2023 5 2024 5 2025 5 2026 6 2027 - 2031 31 The Gray Pension Plan’s weighted-average asset allocations by asset category were as follows: As of December 31, 2021 2020 Asset category: Insurance general account 13 % 15 % Cash management accounts 2 % 3 % Equity accounts 50 % 48 % Fixed income accounts 33 % 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 Blend 27.0 % 0.0 % 50.0 % Mid Cap Blend 10.0 % 0.0 % 40.0 % Small Cap Blend 6.0 % 0.0 % 25.0 % Foreign Large Blend 11.0 % 0.0 % 40.0 % Emerging Markets 3.0 % 0.0 % 25.0 % Real Estate 3.0 % 0.0 % 20.0 % Fixed Income: U.S. Treasury Inflation Protected 3.5 % 0.0 % 25.0 % Intermediate Core Plus Bond 25.0 % 0.0 % 50.0 % Short-Term Bond 3.0 % 0.0 % 25.0 % Bank Loan 0.0 % 0.0 % 25.0 % High Yield Bond 4.0 % 0.0 % 25.0 % Emerging Markets Bond 3.0 % 0.0 % 20.0 % Money Market Taxable 1.5 % 0.0 % 100.0 % 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, 2021 2020 As of December 31, 2021 Level 1 Level 2 Level 3 Total Assets: Insurance general account $ - $ 15 $ - $ 15 Cash management accounts 3 - - 3 Equity accounts 59 - - 59 Fixed income accounts 39 - - 39 Real estate accounts 3 - - 3 Total $ 104 $ 15 $ - $ 119 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 account 35 - - 35 Real estate accounts 2 - - 2 Total $ 92 $ 16 $ - $ 108 Expected Pension Contributions. December 31, 2022. Capital Accumulation Plan. 401 2021, first December 31, 2021, 2020 2019, 2022 In addition, the Company, at its discretion, may December 31, 2021, 2020 2019, may December 31, 2021, Meredith Plan. December 1, 2021, December 31, 2021.

Note 12 - Commitments and Conti

Note 12 - Commitments and Contingencies	12 Months Ended
	Dec. 31, 2021
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	12. Commitments and Contingencies From time to time we may may December 31, 2021, Service and Syndicated Network Other Assembly Television Affiliation Year Agreements Development Programming Agreements Total 2022 $ 51 $ 71 $ 13 $ 725 $ 860 2023 36 8 28 481 553 2024 24 - 6 243 273 2025 14 - 5 11 30 2026 4 - 3 - 7 Thereafter - - - - - Total $ 129 $ 79 $ 55 $ 1,460 $ 1,723 Legal Proceedings and Claims. not Local TV Advertising Antitrust Litigation. fourth 2018, January 2019) December 2021) May 22, 2019. not not not not Following published reports of the DOJ investigation and settlement, various putative class action lawsuits were filed against a number of owners of television stations. The cases have been consolidated in a single multidistrict litigation in the District Court for the Northern District of Illinois under the caption In re Local TV Advertising Litigation and the Plaintiffs’ operative complaint alleges price fixing and unlawful information exchange among the defendants’ advertisement sales teams. Gray is a defendant solely due to its acquisition of Raycom and Meredith, who were named defendants. The consolidated action seeks damages, attorneys’ fees, costs and interest, as well as injunctions against adopting practices or plans that would restrain competition in the ways the plaintiffs have alleged. The Court has set a pretrial schedule requiring discovery to be completed by July 1, 2022, November 14, 2022.

Note 13 - Goodwill and Intangib

Note 13 - Goodwill and Intangible Assets	12 Months Ended
	Dec. 31, 2021
Notes to Financial Statements
Goodwill and Intangible Assets Disclosure [Text Block]	13. Goodwill and Intangible Assets During the years ended December 31, 2021 2020, 3 Net Balance at Acquisitions Net Balance at December 31, and December 31, 2020 Adjustments Dispositions Impairment Amortization 2021 Goodwill $ 1,460 $ 1,211 $ (22 ) $ - $ - $ 2,649 Broadcast licenses 3,579 1,771 (47 ) - - 5,303 Finite-lived intangible assets 395 547 - - (117 ) 825 Total intangible assets net of accumulated amortization $ 5,434 $ 3,529 $ (69 ) $ - $ (117 ) $ 8,777 Net Balance at Acquisitions Net Balance at December 31, and December 31, 2019 Adjustments Dispositions 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 The following table presents a summary of changes in our goodwill, on a gross basis (in millions): Acquisitions As of and As of December 31, 2020 Adjustments Dispositions Impairment December 31, 2021 Goodwill, gross $ 1,559 $ 1,211 $ (22 ) $ - $ 2,748 Accumulated goodwill impairment (99 ) - - - (99 ) Goodwill, net $ 1,460 $ 1,211 $ (22 ) $ - $ 2,649 Acquisitions As of and As of December 31, 2019 Adjustments Dispositions Impairment December 31, 2020 Goodwill, gross $ 1,545 $ 14 $ - $ - $ 1,559 Accumulated goodwill impairment (99 ) - - - (99 ) Goodwill, net $ 1,446 $ 14 $ - $ - $ 1,460 The following table presents a summary of our intangible assets and related accumulated amortization (in millions): As of December 31, 2021 As of December 31, 2020 Accumulated Accumulated Gross Amortization Net Gross Amortization Net Intangible assets not currently subject to amortization: Broadcast licenses $ 5,356 $ (53 ) $ 5,303 $ 3,633 $ (54 ) $ 3,579 Goodwill 2,649 - 2,649 1,460 - 1,460 $ 8,005 $ (53 ) $ 7,952 $ 5,093 $ (54 ) $ 5,039 Intangible assets subject to amortization: Network affiliation agreements $ 204 $ (44 ) $ 160 $ 67 $ (28 ) $ 39 Other finite-lived intangible assets 1,051 (386 ) 665 644 (288 ) 356 $ 1,255 $ (430 ) $ 825 $ 711 $ (316 ) $ 395 Total intangible assets $ 9,260 $ (483 ) $ 8,777 $ 5,804 $ (370 ) $ 5,434 Based on our intangible assets subject to amortization as of December 31, 2021, five 2022, 2023, 2024, 2025, 2026, may Impairment of goodwill and broadcast licenses Beginning in 2021, six six Each of the distinct businesses within our production companies operating segment continue to be separately managed and each represent a reporting unit. This is consistent with the Company’s historical view of its reporting units within the production companies operating segment. Therefore, beginning with our 2021 five four With respect to the accounting effects of this reorganization, the Company has considered the requirements as stipulated within ASC 350. 350. no not In the process of preparing for this change we considered potential impairment of reporting units prior to the realignment using our prior definition of reporting units. In the performance of this test of reporting unit impairment assessments, we had the option of performing a qualitative assessment to determine if it is more likely than not no In the first 2020, 19 first 2020, not not not may In the performance of our annual broadcast license and reporting unit impairment assessments, we have the option of performing a qualitative assessment to determine if it is more likely than not 2021, 59 one 2020, 55 36 As part of this qualitative assessment we evaluate the relative impact of factors that are specific to the reporting units as well as industry, regulatory, and macroeconomic factors that could affect the significant inputs used to determine the fair value of the assets. We also consider the significance of the excess fair value over the carrying value reflected in prior quantitative assessments and the changes to the reporting units’ carrying value since the last impairment test. If we conclude that it is more likely than not not For our annual broadcast licenses impairment test in 2021, not not For our annual goodwill impairment test in 2021, not not one not one We believe we have made reasonable estimates and utilized appropriate assumptions to evaluate whether the fair values of our broadcast licenses and reporting units were less than their carrying values. If future results are not See Note 1

Note 14 - Segment Information

Note 14 - Segment Information	12 Months Ended
	Dec. 31, 2021
Notes to Financial Statements
Segment Reporting Disclosure [Text Block]	14. Segment Information During the years ended December 31, 2021 2020, Production As of and for the Year ended December 31, 2021: Broadcasting Companies Other Consolidated Revenue (less agency commissions) $ 2,340 $ 73 $ - $ 2,413 Operating expenses before depreciation, amortization and loss on disposal of assets, net: 1,548 62 159 1,769 Depreciation and amortization 206 12 3 221 Loss on disposal of assets, net 41 - 1 42 Total operating expenses 1,795 74 163 2,032 Operating income $ 545 $ (1 ) $ (163 ) $ 381 Interest expense $ - $ - $ 205 $ 205 Capital expenditures (excluding business combinations) $ 94 $ 110 $ 3 $ 207 Goodwill $ 2,604 $ 45 $ - $ 2,649 Total assets $ 10,592 $ 269 $ 247 $ 11,108 As of and for the Year ended December 31, 2020: 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 ) 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

Note 15 - Subsequent Events

Note 15 - Subsequent Events	12 Months Ended
	Dec. 31, 2021
Notes to Financial Statements
Subsequent Events [Text Block]	15. Subsequent Events Atlanta Telemundo Transaction February 2, 2022, 10 first second 2022.

Schedule II - Valuation and Qua

Schedule II - Valuation and Qualifying Accounts	12 Months Ended
	Dec. 31, 2021
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, 2021: Allowance for doubtful accounts $ 10 $ 4 $ 3 $ (1 ) $ 16 Valuation allowance for deferred tax assets $ 15 $ 7 $ - $ - $ 22 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 deferredtax assets $ - $ 14 $ - $ - $ 14 (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, 2021
Accounting Policies [Abstract]
Investment, Policy [Policy Text Block]	Investments in Broadcasting, Production and Technology Companies. may Investments in non-public businesses that do not not not
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. December 31, 2021, 2020 2019, 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 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 consolidated balance sheets (in millions): Year Ended December 31, 2021 2020 Beginning balance $ 10 $ 11 Allowance obtained through acquisition 3 - Provision for credit losses 4 2 Amounts written off (1 ) (3 ) Ending balance $ 16 $ 10
Program Broadcast Rights [Policy Text Block]	Program Broadcast Rights. two first Wheel of Fortune The Big Bang Theory 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 2021 2020 (in years) Property and equipment, net: Land $ 277 $ 123 Buildings and improvements 453 305 7 to 40 Equipment 961 780 3 to 20 Construction in progress 63 54 1,754 1,262 Accumulated depreciation (589 ) (525 ) Total $ 1,165 $ 737 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. 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, 2021 2020 2019 (Loss) gain on disposal of assets, net: Proceeds from sale of assets $ 478 $ 9 $ 253 Proceeds from Repack 11 29 41 Net book value of assets disposed (531 ) (9 ) (240 ) Total $ (42 ) $ 29 $ 54 Purchase of property and equipment: Recurring purchases - operations $ 90 $ 87 $ 89 Assembly Atlanta development 109 - - Repack 8 23 20 Repack related - - 1 Total $ 207 $ 110 $ 110
Deferred Charges, Policy [Policy Text Block]	Deferred Loan Costs.
Asset Retirement Obligation [Policy Text Block]	Asset Retirement Obligations. 2062. December 31, 2021 2020, December 31, 2021, 2020 2019, not
Concentration Risk, Credit Risk, Policy [Policy Text Block]	Concentration of Credit Risk. not We derived a material portion of our non-political broadcast advertising revenue from advertisers in a limited number of industries, particularly the services sector, comprising financial, legal and medical advertisers, and the automotive industry. The services sector has become an increasingly important source of advertising revenue over the past few years. During the years ended December 31, 2021, 2020 2019 December 31, 2021, 2020 2019 no one 5%
Earnings Per Share, Policy [Policy Text Block]	Earnings 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, 2021, 2020 2019 Year Ended December 31, 2021 2020 2019 Weighted average shares outstanding, basic 95 96 99 Weighted average shares underlying stock options and restricted shares - 1 1 Weighted average shares outstanding, diluted 95 97 100
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 in business combination transactions. 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, our broadcast television stations as a whole, and each of our 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, 2021 2020 December 31, 2021 2020 Items included in accumulated other comprehensive loss: Increase in pension liability $ (36 ) $ (52 ) Income tax benefit (9 ) (13 ) Accumulated other comprehensive loss $ (27 ) $ (39 )
New Accounting Pronouncements, Policy [Policy Text Block]	Recent Accounting Pronouncements. March 2020, 2020 04, Reference Rate Reform (Topic 848 January 2021, 2020 04, 2021 01, Reference Rate Reform (Topic 848 848. may March 12, 2020, In addition to the accounting standards described above, certain amounts in the 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, 2021
Notes Tables
Accounts Receivable, Allowance for Credit Loss [Table Text Block]	Year Ended December 31, 2021 2020 Beginning balance $ 10 $ 11 Allowance obtained through acquisition 3 - Provision for credit losses 4 2 Amounts written off (1 ) (3 ) Ending balance $ 16 $ 10
Property, Plant and Equipment [Table Text Block]	Estimated December 31, Useful Lives 2021 2020 (in years) Property and equipment, net: Land $ 277 $ 123 Buildings and improvements 453 305 7 to 40 Equipment 961 780 3 to 20 Construction in progress 63 54 1,754 1,262 Accumulated depreciation (589 ) (525 ) Total $ 1,165 $ 737
Schedule of Disposal of Assets and Purchase of Property and Equipment [Table Text Block]	Year ended December 31, 2021 2020 2019 (Loss) gain on disposal of assets, net: Proceeds from sale of assets $ 478 $ 9 $ 253 Proceeds from Repack 11 29 41 Net book value of assets disposed (531 ) (9 ) (240 ) Total $ (42 ) $ 29 $ 54 Purchase of property and equipment: Recurring purchases - operations $ 90 $ 87 $ 89 Assembly Atlanta development 109 - - Repack 8 23 20 Repack related - - 1 Total $ 207 $ 110 $ 110
Schedule of Weighted Average Number of Shares [Table Text Block]	Year Ended December 31, 2021 2020 2019 Weighted average shares outstanding, basic 95 96 99 Weighted average shares underlying stock options and restricted shares - 1 1 Weighted average shares outstanding, diluted 95 97 100
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]	December 31, 2021 2020 Items included in accumulated other comprehensive loss: Increase in pension liability $ (36 ) $ (52 ) Income tax benefit (9 ) (13 ) Accumulated other comprehensive loss $ (27 ) $ (39 )

Note 2 - Revenue (Tables)

Note 2 - Revenue (Tables)	12 Months Ended
	Dec. 31, 2021
Notes Tables
Disaggregation of Revenue [Table Text Block]	Year Ended December 31, 2021 2020 2019 Market and service type: Advertising: Local $ 934 $ 771 $ 898 National 256 198 229 Political 44 430 68 Total advertising 1,234 1,399 1,195 Retransmission consent 1,049 867 796 Production companies 73 61 87 Other 57 54 44 Total revenue $ 2,413 $ 2,381 $ 2,122 Sales channel: Direct $ 1,579 $ 1,302 $ 1,270 Advertising agency intermediary 834 1,079 852 Total revenue $ 2,413 $ 2,381 $ 2,122

Note 3 - Acquisitions and Div_2

Note 3 - Acquisitions and Divestitures (Tables)	12 Months Ended
	Dec. 31, 2021
Notes Tables
Schedule of Business Acquisitions, by Acquisition [Table Text Block]	Adjusted purchase price $ 936 Less - consideration allocated to assets acquired and liabilities assumed for the Quincy overlap markets that were divested on August 2, 2021 383 Purchase consideration for assets acquired and liabilities assumed, net of divestitures $ 553 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
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]	Meredith Quincy Third Rail Total Cash $ 1 $ 4 $ - $ 5 Accounts receivable, net 147 23 - 170 Other current assets 18 5 - 23 Property and equipment 235 74 24 333 Operating lease right of use asset 15 1 - 16 Goodwill 1,012 190 4 1,206 Broadcast licenses 1,516 245 - 1,761 Other intangible assets 455 85 - 540 Other current liabilities (104 ) (7 ) (1 ) (112 ) Deferred income taxes (477 ) (66 ) - (543 ) Operating lease liabilities (15 ) (1 ) - (16 ) Total $ 2,803 $ 553 $ 27 $ 3,383 2020 Acquisitions Lubbock Alaska Columbus Sioux Falls Total Accounts receivable and other current assets $ - $ 1 $ - $ - $ 1 Property and equipment 6 5 2 - 13 Operating lease right of use asset 1 - - - 1 Goodwill 6 2 1 11 20 Broadcast licenses 5 2 - - 7 Other intangible assets 7 9 19 11 46 Other current liabilities (1 ) - - - (1 ) Total $ 24 $ 19 $ 22 $ 22 $ 87 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
Business Combination, Separately Recognized Transactions [Table Text Block]	Year Ended December 31, 2021 Transaction Related Expenses by type: Legal, consulting and other professional fees $ 80 Termination of sales representation and other agreements 1 Total Transaction Related Expenses $ 81 Transaction Related Expenses by financial statement line item: Operating expenses before depreciation, amortization and loss (gain) on disposal of assets, net: Broadcasting $ 3 Corporate and administrative 71 Miscellaneous Expense 7 Total Transaction Related Expenses $ 81 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 Year Ended December 31, December 31, 2021 2020 Revenue (less agency commissions) $ 3,153 $ 3,353 Net income $ 199 $ 488 Net income attributable to common stockholders $ 147 $ 436 Basic net income attributable to common stockholders, per share $ 2.09 $ 4.54 Diluted net income attributable to common stockholders, per share $ 2.09 $ 4.49
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 59 WFXG Augusta, GA 111 WPGX Panama City, FL 140 WDFX Dothan, AL 172 Scripps Media, Inc. 55 KXXV Waco/Temple/Bryan, TX 93 KRHD Waco/Temple/Bryan, TX 93 WTXL Tallahassee, FL 114 TEGNA, Inc. 109 WTOL Toledo, OH 78 KWES Odessa/Midland, TX 155 Total $ 231

Note 4 - Long-term Debt (Tables

Note 4 - Long-term Debt (Tables)	12 Months Ended
	Dec. 31, 2021
Notes Tables
Schedule of Long-term Debt Instruments [Table Text Block]	December 31, 2021 2020 Long-term debt: 2019 Senior Credit Facility: 2017 Term Loan $ 595 $ 595 2019 Term Loan 1,190 1,190 2021 Term Loan 1,500 - 2026 Notes 700 700 2027 Notes 750 750 2030 Notes 800 800 2031 Notes 1,300 - Total outstanding principal 6,835 4,035 Unamortized deferred loan costs - 2017 Term Loan (7 ) (4 ) Unamortized deferred loan costs - 2019 Term Loan (27 ) (30 ) Unamortized deferred loan costs - 2021 Term Loan (5 ) - Unamortized deferred loan costs - 2026 Notes (5 ) (6 ) Unamortized deferred loan costs - 2027 Notes (8 ) (10 ) Unamortized deferred loan costs - 2030 Notes (13 ) (14 ) Unamortized deferred loan costs - 2031 Notes (18 ) - Unamortized premium - 2026 Notes 3 3 Less current portion (15 ) - Long-term debt, less deferred financing costs $ 6,740 $ 3,974 Borrowing availability under Revolving Credit Facility $ 497 $ 200
Schedule of Maturities of Long-term Debt [Table Text Block]	Minimum Principal Maturities 2019 Senior 2026 2027 2030 2031 Year Credit Facility Notes Notes Notes Notes Total 2022 $ 15 $ - $ - $ - $ - $ 15 2023 15 - - - - 15 2024 610 - - - - 610 2025 15 - - - - 15 2026 1,205 700 - - - 1,905 Thereafter 1,425 - 750 800 1,300 4,275 Total $ 3,285 $ 700 $ 750 $ 800 $ 1,300 $ 6,835

Note 8 - Stock-based Compensa_2

Note 8 - Stock-based Compensation (Tables)	12 Months Ended
	Dec. 31, 2021
Notes Tables
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Table Text Block]	Year Ended December 31, 2021 2020 2019 Stock-based compensation expense, gross $ 14 $ 16 $ 16 Income tax benefit at our statutory rate associated with stock-based compensation (4 ) (4 ) (4 ) Stock-based compensation expense, net $ 10 $ 12 $ 12
Schedule of Nonvested Restricted Stock Units Activity [Table Text Block]	Year Ended December 31, 2021 2020 2019 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 917,533 $ 16.84 977,547 $ 15.45 578,894 $ 13.14 Granted 731,374 19.73 359,481 18.92 751,463 16.07 Vested (613,179 ) 15.48 (333,865 ) 15.35 (352,810 ) 12.98 Forfeited - - (85,630 ) 15.53 - - Outstanding - end of period 1,035,728 $ 19.69 917,533 $ 16.84 977,547 $ 15.45 Restricted stock - Class A common: Outstanding - beginning of period 480,042 $ 16.10 449,284 $ 13.55 407,786 $ 11.82 Granted 488,918 18.66 166,814 19.87 199,810 15.36 Vested (248,539 ) 15.00 (136,056 ) 12.32 (158,312 ) 11.38 Outstanding - end of period 720,421 $ 18.22 480,042 $ 16.10 449,284 $ 13.55 Restricted stock units - common: Outstanding - beginning of period 90,184 $ 18.92 398,000 $ 18.21 - $ - Granted 95,115 19.05 93,184 18.77 398,000 18.21 Vested (60,052 ) 18.92 (374,500 ) 18.18 - - Forfeited - - (26,500 ) 18.21 - - Outstanding - end of period 125,247 $ 19.02 90,184 $ 18.92 398,000 $ 18.21

Note 9 - Leases (Tables)

Note 9 - Leases (Tables)	12 Months Ended
	Dec. 31, 2021
Notes Tables
Lessee, Operating Lease, Liability, Maturity [Table Text Block]	Year: 2022 $ 13 2023 11 2024 11 2025 10 2026 9 Thereafter 46 Total lease payments 100 Less: Imputed interest (28 ) Present value of lease liabilities $ 72

Note 10 - Income Taxes (Tables)

Note 10 - Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2021
Notes Tables
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]	Year Ended December 31, 2021 2020 2019 Current: Federal $ 74 $ 39 $ 8 State and local 26 20 13 Current income tax expense 100 59 21 Deferred: Federal (12 ) 64 54 State and local (10 ) 11 1 Deferred income tax expense (22 ) 75 55 Total income tax expense $ 78 $ 134 $ 76
Schedule of Deferred Tax Assets and Liabilities [Table Text Block]	December 31, 2021 2020 Deferred tax liabilities: Net book value of property and equipment $ 146 $ 92 Broadcast licenses, goodwill and other intangible assets 1,373 878 Total deferred tax liabilities 1,519 970 Deferred tax assets: Liability for accrued vacation 5 4 Liability for accrued bonus 9 5 Deferred payroll taxes 2 3 Allowance for credit losses 4 3 Liability for pension plan 6 11 Federal operating loss carryforwards 2 38 State and local operating loss carryforwards 24 21 Acquisition costs 2 2 Restricted stock 4 4 Investments 4 4 Interest expense limitation 4 4 Other 4 1 Total deferred tax assets 70 100 Valuation allowance for deferred tax assets (22 ) (15 ) Net deferred tax assets 48 85 Deferred tax liabilities, net of deferred tax assets $ 1,471 $ 885
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]	Year Ended December 31, 2021 2020 2019 Statutory federal rate applied to income before income tax expense $ 35 $ 114 $ 53 Current year permanent items 33 3 13 State and local taxes, net of federal tax benefit 10 27 13 Change in valuation allowance - 1 (2 ) Net operating loss carryback - (7 ) - Other items, net - (4 ) (1 ) Income tax expense as recorded $ 78 $ 134 $ 76 Effective income tax rate 46 % 25 % 30 %

Note 11 - Retirement Plans (Tab

Note 11 - Retirement Plans (Tables)	12 Months Ended
	Dec. 31, 2021
Notes Tables
Schedule of Net Funded Status [Table Text Block]	December 31, 2021 2020 Change in projected benefit obligation: Projected benefit obligation at beginning of year $ 151 $ 135 Interest cost 4 4 Actuarial (gain) loss (11 ) 16 Benefits paid (4 ) (4 ) Projected benefit obligation at end of year $ 140 $ 151 Change in plan assets: Fair value of pension plan assets at beginning of year $ 108 $ 97 Actual return on plan assets 12 12 Company contributions 3 3 Benefits paid (4 ) (4 ) Fair value of pension plan assets at end of year 119 108 Funded status of pension plan $ (21 ) $ (43 ) Amounts recognized on our balance sheets consist of: Accrued benefit cost $ 15 $ 10 Accumulated other comprehensive loss (36 ) (53 ) Net liability recognized $ (21 ) $ (43 )
Defined Benefit Plan, Assumptions [Table Text Block]	Year Ended December 31, 2021 2020 Weighted-average assumptions used to determine net periodic benefit cost for the Gray Pension Plan: Discount rate 2.38 % 3.14 % Expected long-term rate of return on pension plan assets 6.25 % 6.50 % Estimated rate of increase in compensation levels N/A N/A As of December 31, 2021 2020 Weighted-average assumptions used to determine benefit obligations: Discount rate 2.73 % 2.38 %
Schedule of Net Benefit Costs [Table Text Block]	Year Ended December 31, 2021 2020 2019 Components of net periodic pension cost: Interest cost $ 4 $ 4 $ 5 Expected return on plan assets (7 ) (6 ) (5 ) Recognized net actuarial loss 1 1 - Net periodic pension benefit $ (2 ) $ (1 ) $ -
Schedule of Expected Benefit Payments [Table Text Block]	Years Amount 2022 $ 4 2023 5 2024 5 2025 5 2026 6 2027 - 2031 31
Schedule of Allocation of Plan Assets by Asset Category [Table Text Block]	As of December 31, 2021 2020 Asset category: Insurance general account 13 % 15 % Cash management accounts 2 % 3 % Equity accounts 50 % 48 % Fixed income accounts 33 % 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 Blend 27.0 % 0.0 % 50.0 % Mid Cap Blend 10.0 % 0.0 % 40.0 % Small Cap Blend 6.0 % 0.0 % 25.0 % Foreign Large Blend 11.0 % 0.0 % 40.0 % Emerging Markets 3.0 % 0.0 % 25.0 % Real Estate 3.0 % 0.0 % 20.0 % Fixed Income: U.S. Treasury Inflation Protected 3.5 % 0.0 % 25.0 % Intermediate Core Plus Bond 25.0 % 0.0 % 50.0 % Short-Term Bond 3.0 % 0.0 % 25.0 % Bank Loan 0.0 % 0.0 % 25.0 % High Yield Bond 4.0 % 0.0 % 25.0 % Emerging Markets Bond 3.0 % 0.0 % 20.0 % Money Market Taxable 1.5 % 0.0 % 100.0 %
Defined Benefit Plan, Fair Value of Plan Assets [Table Text Block]	As of December 31, 2021 Level 1 Level 2 Level 3 Total Assets: Insurance general account $ - $ 15 $ - $ 15 Cash management accounts 3 - - 3 Equity accounts 59 - - 59 Fixed income accounts 39 - - 39 Real estate accounts 3 - - 3 Total $ 104 $ 15 $ - $ 119 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 account 35 - - 35 Real estate accounts 2 - - 2 Total $ 92 $ 16 $ - $ 108

Note 12 - Commitments and Con_2

Note 12 - Commitments and Contingencies (Tables)	12 Months Ended
	Dec. 31, 2021
Notes Tables
Contractual Obligation, Fiscal Year Maturity [Table Text Block]	Service and Syndicated Network Other Assembly Television Affiliation Year Agreements Development Programming Agreements Total 2022 $ 51 $ 71 $ 13 $ 725 $ 860 2023 36 8 28 481 553 2024 24 - 6 243 273 2025 14 - 5 11 30 2026 4 - 3 - 7 Thereafter - - - - - Total $ 129 $ 79 $ 55 $ 1,460 $ 1,723

Note 13 - Goodwill and Intang_2

Note 13 - Goodwill and Intangible Assets (Tables)	12 Months Ended
	Dec. 31, 2021
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, 2020 Adjustments Dispositions Impairment Amortization 2021 Goodwill $ 1,460 $ 1,211 $ (22 ) $ - $ - $ 2,649 Broadcast licenses 3,579 1,771 (47 ) - - 5,303 Finite-lived intangible assets 395 547 - - (117 ) 825 Total intangible assets net of accumulated amortization $ 5,434 $ 3,529 $ (69 ) $ - $ (117 ) $ 8,777 Net Balance at Acquisitions Net Balance at December 31, and December 31, 2019 Adjustments Dispositions 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
Schedule of Goodwill [Table Text Block]	Acquisitions As of and As of December 31, 2020 Adjustments Dispositions Impairment December 31, 2021 Goodwill, gross $ 1,559 $ 1,211 $ (22 ) $ - $ 2,748 Accumulated goodwill impairment (99 ) - - - (99 ) Goodwill, net $ 1,460 $ 1,211 $ (22 ) $ - $ 2,649 Acquisitions As of and As of December 31, 2019 Adjustments Dispositions Impairment December 31, 2020 Goodwill, gross $ 1,545 $ 14 $ - $ - $ 1,559 Accumulated goodwill impairment (99 ) - - - (99 ) Goodwill, net $ 1,446 $ 14 $ - $ - $ 1,460
Schedule of Intangible Assets and Goodwill [Table Text Block]	As of December 31, 2021 As of December 31, 2020 Accumulated Accumulated Gross Amortization Net Gross Amortization Net Intangible assets not currently subject to amortization: Broadcast licenses $ 5,356 $ (53 ) $ 5,303 $ 3,633 $ (54 ) $ 3,579 Goodwill 2,649 - 2,649 1,460 - 1,460 $ 8,005 $ (53 ) $ 7,952 $ 5,093 $ (54 ) $ 5,039 Intangible assets subject to amortization: Network affiliation agreements $ 204 $ (44 ) $ 160 $ 67 $ (28 ) $ 39 Other finite-lived intangible assets 1,051 (386 ) 665 644 (288 ) 356 $ 1,255 $ (430 ) $ 825 $ 711 $ (316 ) $ 395 Total intangible assets $ 9,260 $ (483 ) $ 8,777 $ 5,804 $ (370 ) $ 5,434

Note 14 - Segment Information (

Note 14 - Segment Information (Tables)	12 Months Ended
	Dec. 31, 2021
Notes Tables
Schedule of Segment Reporting Information, by Segment [Table Text Block]	Production As of and for the Year ended December 31, 2021: Broadcasting Companies Other Consolidated Revenue (less agency commissions) $ 2,340 $ 73 $ - $ 2,413 Operating expenses before depreciation, amortization and loss on disposal of assets, net: 1,548 62 159 1,769 Depreciation and amortization 206 12 3 221 Loss on disposal of assets, net 41 - 1 42 Total operating expenses 1,795 74 163 2,032 Operating income $ 545 $ (1 ) $ (163 ) $ 381 Interest expense $ - $ - $ 205 $ 205 Capital expenditures (excluding business combinations) $ 94 $ 110 $ 3 $ 207 Goodwill $ 2,604 $ 45 $ - $ 2,649 Total assets $ 10,592 $ 269 $ 247 $ 11,108 As of and for the Year ended December 31, 2020: 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 ) 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

Schedule II - Valuation and Q_2

Schedule II - Valuation and Qualifying Accounts (Tables)	12 Months Ended
	Dec. 31, 2021
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, 2021: Allowance for doubtful accounts $ 10 $ 4 $ 3 $ (1 ) $ 16 Valuation allowance for deferred tax assets $ 15 $ 7 $ - $ - $ 22 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 deferredtax assets $ - $ 14 $ - $ - $ 14

Note 1 - Description of Busin_3

Note 1 - Description of Business and Summary of Significant Accounting Policies (Details Textual) $ in Millions	12 Months Ended
	Dec. 31, 2021USD ($)Rate	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)
Number of Television Markets	113
Percent of US Television Households Reached (Rate) | Rate	36.00%
Number of Television Markets with Top-Rated Stations	80
Number of Television Markets with First and/or Second Rated Stations	100
Accounts Receivable, Credit Loss Expense (Reversal)	$ 4	$ 2	$ 11
Asset Retirement Obligation, Ending Balance	$ 3	$ 2
Revenue Benchmark [Member] | Customer Concentration Risk [Member] | Services Sector [Member]
Concentration Risk, Percentage	29.00%	28.00%	25.00%
Revenue Benchmark [Member] | Customer Concentration Risk [Member] | Automotive [Member]
Concentration Risk, Percentage	17.00%	21.00%	25.00%

Note 1 - Description of Busin_4

Note 1 - Description of Business and Summary of Significant Accounting Policies - Allowance for Credit Losses (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Beginning balance	$ 10	$ 11
Allowance obtained through acquisition	3	0
Provision for credit losses	4	2	$ 11
Amounts written off	(1)	(3)
Ending balance	$ 16	$ 10	$ 11

Note 1 - Description of Busin_5

Note 1 - Description of Business and Summary of Significant Accounting Policies - Property and Equipment (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Property and equipment, gross	$ 1,754	$ 1,262
Accumulated depreciation	(589)	(525)
Total property and equipment, net	1,165	737
Land [Member]
Property and equipment, gross	277	123
Building and Building Improvements [Member]
Property and equipment, gross	$ 453	305
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	$ 961	780
Equipment [Member] | Minimum [Member]
Estimated Useful Lives (Year)	3 years
Equipment [Member] | Maximum [Member]
Estimated Useful Lives (Year)	20 years
Construction in Progress [Member]
Property and equipment, gross	$ 63	$ 54

Note 1 - Description of Busin_6

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, 2021	Dec. 31, 2020	Dec. 31, 2019
Proceeds from sale of assets	$ 478	$ 9	$ 253
Proceeds from Repack reimbursement (Note 1)	11	29	41
Net book value of assets disposed	(531)	(9)	(240)
Total	(42)	29	54
Recurring purchases - operations	90	87	89
Assembly Atlanta development	109	0	0
Repack	8	23	20
Repack related	0	0	1
Total	$ 207	$ 110	$ 110

Note 1 - Description of Busin_7

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, 2021	Dec. 31, 2020	Dec. 31, 2019
Weighted average shares outstanding, basic (in shares)	95	96	99
Weighted average shares underlying stock options and restricted shares (in shares)	0	1	1
Weighted average shares outstanding, diluted (in shares)	95	97	100

Note 1 - Description of Busin_8

Note 1 - Description of Business and Summary of Significant Accounting Policies - Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Items included in accumulated other comprehensive loss:
Increase in pension liability	$ (36)	$ (52)
Income tax benefit	(9)	(13)
Accumulated other comprehensive loss	$ (27)	$ (39)

Note 2 - Revenue (Details Textu

Note 2 - Revenue (Details Textual) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Contract with Customer, Liability, Revenue Recognized	$ 21
Deferred Revenue [Member]
Deposit Liability, Current	$ 13	$ 21

Note 2 - Revenue - Disaggregati

Note 2 - Revenue - Disaggregation of Revenue (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Revenue	$ 2,413	$ 2,381	$ 2,122
Sales Channel, Directly to Consumer [Member]
Revenue	1,579	1,302	1,270
Sales Channel, Through Intermediary [Member]
Revenue	834	1,079	852
Local Advertising [Member]
Revenue	934	771	898
National Advertising [Member]
Revenue	256	198	229
Political Advertising [Member]
Revenue	44	430	68
Advertising [Member]
Revenue	1,234	1,399	1,195
Retransmission Consent [Member]
Revenue	1,049	867	796
Production Companies [Member]
Revenue	73	61	87
Service, Other [Member]
Revenue	$ 57	$ 54	$ 44

Note 3 - Acquisitions and Div_3

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

Dec. 01, 2021USD ($)

Sep. 23, 2021USD ($)

Aug. 02, 2021USD ($)

Nov. 02, 2020USD ($)

Sep. 01, 2020USD ($)

Jul. 31, 2020USD ($)

Oct. 01, 2019USD ($)

Sep. 25, 2019USD ($)

May 01, 2019USD ($)

Jan. 02, 2019USD ($)shares

Dec. 31, 2021USD ($)

Dec. 31, 2020USD ($)

Dec. 31, 2019USD ($)

Sep. 13, 2021USD ($)

Business Combination, Acquisition Related Costs

$ 81

$ 79

Finite-lived Intangible Assets Acquired

547

$ 40

Goodwill, Ending Balance

2,649

1,460

1,446

Broadcast Licenses Acquired in 2021 [Member]

Indefinite-lived Intangible Assets Acquired

4

Broadcast Licenses Acquired in 2020 [Member]

Indefinite-lived Intangible Assets Acquired

5

Quincy Acquisition [Member]

Gain (Loss) on Disposition of Business

$ 45

Proceeds from Divestiture of Businesses

401

Disposal Group, Working Capital

21

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

Meredith Corporation [Member]

Business Combination, Consideration Transferred, Total

$ 2,800

Business Combination, Television Stations Operated

12

WJRT (ABC) in the Flint, Michigan Market [Member]

Disposal Group, Including Discontinued Operation, Consideration

$ 72

Gain (Loss) on Disposition of Business

$ (4)

Quincy Acquisition [Member]

Business Combination, Consideration Transferred, Total

936

936

Disposal Group, Including Discontinued Operation, Consideration

383

Business Combination, Working Capital

$ 6

Goodwill, Ending Balance

190

Third Rail Acquisition [Member]

Disposal Group, Including Discontinued Operation, Consideration

$ 27

Goodwill, Ending Balance

4

The2021 Acquisitions [Member]

Accounts Receivable, Gross Contractual Amount Over Recorded Fair Value

3

Business Acquisition, Goodwill, Expected Tax Deductible Amount

89

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

128

Goodwill, Ending Balance

1,206

The2021 Acquisitions [Member] | Retransmission Agreements [Member]

Finite-Lived Intangible Assets, Gross, Total

$ 374

Finite-Lived Intangible Asset, Useful Life (Year)

5 years

The2021 Acquisitions [Member] | Network Affiliation Agreements [Member]

Finite-Lived Intangible Asset, Useful Life (Year)

5 years

The2021 Acquisitions [Member] | Minimum [Member]

Property, Plant and Equipment, Useful Life (Year)

3 years

Finite-Lived Intangible Asset, Useful Life (Year)

1 year

The2021 Acquisitions [Member] | Maximum [Member]

Property, Plant and Equipment, Useful Life (Year)

40 years

Finite-Lived Intangible Asset, Useful Life (Year)

10 years

Network Affiliate [Member] | Network Affiliation Agreements [Member]

Finite-Lived Intangible Assets, Gross, Total

$ 136

Alaska Transactions [Member]

Payments to Acquire Businesses, Gross

$ 19

Goodwill, Ending Balance

2

Columbus Acquisition [Member]

Payments to Acquire Businesses, Gross

$ 22

Goodwill, Ending Balance

1

Sioux Falls Acquisition [Member]

Payments to Acquire Businesses, Gross

$ 22

$ 33

Goodwill, Ending Balance

2

11

2

The 2020 Acquisitions [Member]

Payments to Acquire Businesses, Gross

24

Business Combination, Acquisition Related Costs

1

Goodwill, Ending Balance

$ 20

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]

Business Combination, Consideration Transferred, Total

3,660

$ 3,677

Disposal Group, Including Discontinued Operation, Consideration

234

Business Acquisition, Goodwill, Expected Tax Deductible Amount

150

Payments to Acquire Businesses, Gross

2,840

Goodwill, Ending Balance

$ 829

829

Raycom [Member] | Common Stock [Member]

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

650,000

Business Combination, Consideration Transferred, Equity Interests Issued and Issuable

$ 650

KYOU-TV and WUPV-TV [Member]

Business Combination, Consideration Transferred, Total

17

Disposal Group, Including Discontinued Operation, Consideration

$ 0

Payments to Acquire Businesses, Gross

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]

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

1,100

Goodwill, Ending Balance

834

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] | 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] | 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] | 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 - Consideration (Details) - USD ($) $ in Millions	Aug. 02, 2021	Jan. 02, 2019	Dec. 31, 2021	Dec. 31, 2019
Quincy Acquisition [Member]
Adjusted purchase price	$ 936		$ 936
Less - consideration allocated to assets acquired and liabilities assumed for the Quincy overlap markets that were divested on August 2, 2021			383
Purchase consideration for assets acquired and liabilities assumed, net of divestitures			553
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			(383)
Raycom, Excluding KYOU and WUPV [Member]
Adjusted purchase price			3,660
Less - consideration allocated to assets acquired and liabilities assumed for the Quincy overlap markets that were divested on August 2, 2021			234
Purchase consideration for assets acquired and liabilities assumed, net of divestitures			3,426
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)
KYOU-TV and WUPV-TV [Member]
Adjusted purchase price			17
Less - consideration allocated to assets acquired and liabilities assumed for the Quincy overlap markets that were divested on August 2, 2021			0
Purchase consideration for assets acquired and liabilities assumed, net of divestitures			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
Raycom [Member]
Adjusted purchase price		$ 3,660	3,677
Less - consideration allocated to assets acquired and liabilities assumed for the Quincy overlap markets that were divested on August 2, 2021			234
Purchase consideration for assets acquired and liabilities assumed, net of divestitures			3,443	$ 3,443
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)

Note 3 - Acquisitions and Div_5

Note 3 - Acquisitions and Divestitures - Acquisitions (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Oct. 01, 2019	Jan. 02, 2019
Goodwill	$ 2,649	$ 1,460	$ 1,446
Meredith Acquisition [Member]
Cash	1
Accounts receivable, net	147
Other current assets	18
Property and equipment	235
Operating lease right of use asset	15
Goodwill	1,012
Broadcast licenses	1,516
Other intangible assets	455
Other current liabilities	(104)
Deferred income taxes	(477)
Operating lease liabilities	(15)
Total	2,803
Other current liabilities	104
Quincy Acquisition [Member]
Cash	4
Accounts receivable, net	23
Other current assets	5
Property and equipment	74
Operating lease right of use asset	1
Goodwill	190
Broadcast licenses	245
Other intangible assets	85
Other current liabilities	(7)
Deferred income taxes	(66)
Operating lease liabilities	(1)
Total	553
Other current liabilities	7
Third Rail Acquisition [Member]
Cash	0
Accounts receivable, net	0
Other current assets	0
Property and equipment	24
Operating lease right of use asset	0
Goodwill	4
Broadcast licenses	0
Other intangible assets	0
Other current liabilities	(1)
Deferred income taxes	0
Operating lease liabilities	0
Total	27
Other current liabilities	1
The2021 Acquisitions [Member]
Cash	5
Accounts receivable, net	170
Other current assets	23
Property and equipment	333
Operating lease right of use asset	16
Goodwill	1,206
Broadcast licenses	1,761
Other intangible assets	540
Other current liabilities	(112)
Deferred income taxes	(543)
Operating lease liabilities	(16)
Total	3,383
Other current liabilities	112
Lubbock Transactions, Acquisition [Member]
Property and equipment		6
Operating lease right of use asset		1
Goodwill		6
Other intangible assets		7
Other current liabilities		(1)
Total		24
Accounts receivable and other current assets		0
Broadcast licenses		5
Other current liabilities		1
Alaska Transactions [Member]
Property and equipment		5
Operating lease right of use asset		0
Goodwill		2
Other intangible assets		9
Other current liabilities		0
Total		19
Accounts receivable and other current assets		1
Broadcast licenses		2
Other current liabilities		0
Columbus Acquisition [Member]
Property and equipment		2
Operating lease right of use asset		0
Goodwill		1
Other intangible assets		19
Other current liabilities		0
Total		22
Accounts receivable and other current assets		0
Broadcast licenses		0
Other current liabilities		0
Sioux Falls Acquisition [Member]
Cash			0
Accounts receivable, net			1
Other current assets			0
Property and equipment		0	10
Operating lease right of use asset		0	0
Goodwill		11	2	$ 2
Broadcast licenses			14
Other intangible assets		11	7
Other current liabilities		0	(1)
Deferred income taxes			0
Operating lease liabilities			0
Total		22	33
Accounts receivable and other current assets		0
Broadcast licenses		0
Other current liabilities		0	1
Program broadcast rights			0
Other non-current assets			0
Employee compensation and benefits			0
Program broadcast obligations			0
Federal and state income taxes payable			0
Other long-term liabilities			0
The 2020 Acquisitions [Member]
Property and equipment		13
Operating lease right of use asset		1
Goodwill		20
Other intangible assets		46
Other current liabilities		(1)
Total		87
Accounts receivable and other current assets		1
Broadcast licenses		7
Other current liabilities		$ 1
Raycom [Member]
Cash			115
Accounts receivable, net			243
Other current assets			10
Property and equipment			311
Operating lease right of use asset			52
Goodwill			829		$ 829
Broadcast licenses			2,004
Other intangible assets			504
Other current liabilities			(60)
Deferred income taxes			(472)
Operating lease liabilities			(52)
Total	$ 3,443		3,443
Other current liabilities			60
Program broadcast rights			12
Other non-current assets			20
Employee compensation and benefits			(29)
Program broadcast obligations			(16)
Federal and state income taxes payable			(3)
Other long-term liabilities			(25)
United Acquisition [Member]
Cash			0
Accounts receivable, net			3
Other current assets			0
Property and equipment			10
Operating lease right of use asset			0
Goodwill			3
Broadcast licenses			24
Other intangible assets			8
Other current liabilities			0
Deferred income taxes			0
Operating lease liabilities			0
Total			48
Other current liabilities			0
Program broadcast rights			0
Other non-current assets			0
Employee compensation and benefits			0
Program broadcast obligations			0
Federal and state income taxes payable			0
Other long-term liabilities			0
Charlottesville Acquisition [Member]
Cash			0
Accounts receivable, net			1
Other current assets			0
Property and equipment			7
Operating lease right of use asset			0
Goodwill			0
Broadcast licenses			2
Other intangible assets			3
Other current liabilities			0
Deferred income taxes			0
Operating lease liabilities			0
Total			13
Other current liabilities			0
Program broadcast rights			0
Other non-current assets			0
Employee compensation and benefits			0
Program broadcast obligations			0
Federal and state income taxes payable			0
Other long-term liabilities			0
Acquisitions 2019 [Member]
Cash			115
Accounts receivable, net			248
Other current assets			10
Property and equipment			338
Operating lease right of use asset			52
Goodwill			834
Broadcast licenses			2,044
Other intangible assets			522
Other current liabilities			(61)
Deferred income taxes			(472)
Operating lease liabilities			(52)
Total			3,537
Other current liabilities			61
Program broadcast rights			12
Other non-current assets			20
Employee compensation and benefits			(29)
Program broadcast obligations			(16)
Federal and state income taxes payable			(3)
Other long-term liabilities			$ (25)

Note 3 - Acquisitions and Div_6

Note 3 - Acquisitions and Divestitures - Transaction Related Expenses (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2019
Transaction related expenses	$ 81	$ 79
Broadcast Licenses [Member]
Transaction related expenses	3	45
Corporate and Administrative [Member]
Transaction related expenses	71	34
Miscellaneous (Income) Expense, Net [Member]
Transaction related expenses	7
Legal, Consulting and Other Professional Fees [Member]
Transaction related expenses	80	24
Termination of Sales Representation Agreements [Member]
Transaction related expenses	$ 1	34
Incentive Compensation and Severance Costs [Member]
Transaction related expenses		$ 21

Note 3 - Acquisitions and Div_7

Note 3 - Acquisitions and Divestitures - Unaudited Pro Forma Results (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Revenue (less agency commissions)	$ 3,153	$ 3,353
Net income	199	488
Net income attributable to common stockholders	$ 147	$ 436
Basic net income attributable to common stockholders, per share (in dollars per share)	$ 2.09	$ 4.54
Diluted net income attributable to common stockholders, per share (in dollars per share)	$ 2.09	$ 4.49

Note 3 - Acquisitions and Div_8

Note 3 - Acquisitions and Divestitures - Assets Sold from the Raycom Merger (Details) $ in Millions	Jan. 02, 2019USD ($)
WTNZ-TV, WFXG-TV, WPGX-TV, and WDFX-TV [Member] | Lockwood Broadcasting, Inc. [Member]
Total Cash Consideration	$ 67
KXXV-TV, KRHD-CD, and WTXL-TV [Member] | Scripps Media, Inc. [Member]
Total Cash Consideration	55
WTOL-TV and KWES-TV [Member] | TEGNA, Inc. [Member]
Total Cash Consideration	109
WTNZ-TV, WFXG-TV, WPGX-TV, WDFX-TV, KXXV-TV, KRHD-CD, WTXL-TV, WTOL-TV and KWES-TV [Member]
Total Cash Consideration	$ 231

Note 4 - Long-term Debt (Detail

Note 4 - Long-term Debt (Details Textual) - USD ($) $ in Thousands	Dec. 01, 2021	Nov. 09, 2021	Dec. 31, 2021	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Feb. 19, 2021	Feb. 18, 2021
Interest Paid, Excluding Capitalized Interest, Operating Activities				$ 178,000	$ 179,000	$ 212,000
Payments of Debt Issuance Costs	$ 5,000
Debt Related Commitment Fees and Debt Issuance Costs	31,000
Other Third-party Fees for Legal, Consulting, Brokerage, Insurance and Other Related Costs [Member]
Payments of Debt Issuance Costs	6,000
Debt Related Commitment Fees and Debt Issuance Costs	25,000
2026 Notes [Member]
Debt Instrument, Interest Rate, Stated Percentage			5.875%	5.875%
2027 Notes [Member]
Debt Instrument, Interest Rate, Stated Percentage			7.00%	7.00%
2030 Notes [Member]
Debt Instrument, Interest Rate, Stated Percentage			4.75%	4.75%
Notes 2031 [Member]
Debt Instrument, Interest Rate, Stated Percentage			5.375%	5.375%
The 2019 Senior Credit Facility [Member] | Revolving Credit Facility [Member]
Line of Credit Facility, Maximum Borrowing Capacity	500,000						$ 300,000	$ 200,000
The 2019 Senior Credit Facility [Member] | Term Loan [Member]
Debt Instrument, Face Amount	$ 1,500,000
Debt Instrument, Periodic Payment, Principal			$ 3,750
The 2019 Senior Credit Facility [Member] | The 2021 Term Loan [Member]
Debt Instrument, Interest Rate, Effective Percentage		5.375%	3.10%	3.10%
Proceeds from Issuance of Debt		$ 1,300
The 2019 Senior Credit Facility [Member] | The 2019 Term Loan [Member]
Debt Instrument, Interest Rate, Effective Percentage			2.60%	2.60%
The 2017 Senior Credit Facility [Member] | The 2017 Term Loan [Member]
Debt Instrument, Interest Rate, Effective Percentage			2.60%	2.60%

Note 4 - Long-term Debt - Long-

Note 4 - Long-term Debt - Long-term Debt Summary (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Long-term debt, gross	$ 6,835	$ 4,035
Less current portion	(15)	0
Long-term debt, less deferred financing costs	6,740	3,974
Borrowing availability under Revolving Credit Facility	497	200
The 2017 Term Loan [Member]
Long-term debt, gross	595	595
Unamortized deferred loan costs	(7)	(4)
The 2019 Term Loan [Member]
Long-term debt, gross	1,190	1,190
Unamortized deferred loan costs	(27)	(30)
The 2021 Term Loan [Member]
Long-term debt, gross	1,500	0
Unamortized deferred loan costs	(5)	0
2026 Notes [Member]
Long-term debt, gross	700	700
Unamortized deferred loan costs	(5)	(6)
Unamortized premium	3	3
2027 Notes [Member]
Long-term debt, gross	750	750
Unamortized deferred loan costs	(8)	(10)
2030 Notes [Member]
Long-term debt, gross	800	800
Unamortized deferred loan costs	(13)	(14)
Notes 2031 [Member]
Long-term debt, gross	1,300	0
Unamortized deferred loan costs	$ (18)	$ 0

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, 2021	Dec. 31, 2020
2022	$ 15
2023	15
2024	610
2025	15
2026	1,905
Thereafter	4,275
Total Debt	6,835	$ 4,035
The 2019 Senior Credit Facility [Member]
2022	15
2023	15
2024	610
2025	15
2026	1,205
Thereafter	1,425
Total Debt	3,285
2026 Notes [Member]
2022	0
2023	0
2024	0
2025	0
2026	700
Thereafter	0
Total Debt	700	700
2027 Notes [Member]
2022	0
2023	0
2024	0
2025	0
2026	0
Thereafter	750
Total Debt	750	750
2030 Notes [Member]
2022	0
2023	0
2024	0
2025	0
2026	0
Thereafter	800
Total Debt	800	800
Notes 2031 [Member]
2022	0
2023	0
2024	0
2025	0
2026	0
Thereafter	1,300
Total Debt	$ 1,300	$ 0

Note 5 - Fair Value Measureme_2

Note 5 - Fair Value Measurement (Details Textual) - USD ($) $ in Billions	Dec. 31, 2021	Dec. 31, 2020
Long-term Debt, Total	$ 6.8	$ 4
Long-term Debt, Fair Value	$ 6.9	$ 4.1

Note 6 - Stockholders' Equity (

Note 6 - Stockholders' Equity (Details Textual) $ / shares in Units, $ in Thousands	Dec. 16, 2021USD ($)$ / sharesshares	Nov. 04, 2021USD ($)$ / sharesshares	Jun. 30, 2020USD ($)$ / sharesshares	Dec. 31, 2019USD ($)$ / sharesshares	Dec. 31, 2021USD ($)$ / sharesshares	Dec. 31, 2020USD ($)$ / sharesshares	Dec. 31, 2019USD ($)$ / shares	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
Common Stock, Dividends, Per Share, Declared (in dollars per share) | $ / shares					$ 0.32	$ 0	$ 0
Dividends, Common Stock, Total | $					$ 31,000
Treasury Stock, Value, Acquired, Cost Method | $					$ 30,000	$ 75,000	$ 32,000
Common Stock, Capital Shares Reserved for Future Issuance (in shares) | shares					2,821,480	4,006,948
Repurchase Authorization 2019 [Member]
Stock Repurchase Program, Authorized Amount | $								$ 150,000
Treasury Stock, Shares, Acquired (in shares) | shares			3,688,022	1,008,091
Treasury Stock, Value, Acquired, Cost Method | $			$ 51,000	$ 21,000
Treasury Stock Acquired, Average Cost Per Share (in dollars per share) | $ / shares			$ 13.81	$ 20.83
Issuers Repurchase Program 2019 [Member]
Treasury Stock, Shares, Acquired (in shares) | shares						905,836
Treasury Stock, Value, Acquired, Cost Method | $						$ 10,000
Treasury Stock Acquired, Average Cost Per Share (in dollars per share) | $ / shares						$ 11.02
Repurchase Authorization 2020 [Member]
Treasury Stock, Shares, Acquired (in shares) | shares		864,026
Treasury Stock, Value, Acquired, Cost Method | $		$ 14,000
Treasury Stock Acquired, Average Cost Per Share (in dollars per share) | $ / shares		$ 16.47
Stock Repurchase Program, Additional Authorized Amount | $		$ 150,000
Repurchase Authorization 2021 [Member]
Treasury Stock, Shares, Acquired (in shares) | shares	1,501,088
Treasury Stock, Value, Acquired, Cost Method | $	$ 30,000
Treasury Stock Acquired, Average Cost Per Share (in dollars per share) | $ / shares	$ 19.95
Stock Repurchase Program, Remaining Authorized Repurchase Amount | $					$ 174,000
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					847,522	1,336,440
Common Stock and Class A Common Stock [Member]
Dividends, Common Stock, Total | $						$ 0

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) shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2021USD ($)shares
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total | $	$ 20
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year)	3 years 2 months 12 days
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)	2.3
The 2017 Equity and Incentive Compensation Plan [Member] | Common Class A [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant (in shares)	0.8

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, 2021	Dec. 31, 2020	Dec. 31, 2019
Stock-based compensation expense, gross	$ 14	$ 16	$ 16
Income tax benefit at our statutory rate associated with stock-based compensation	(4)	(4)	(4)
Stock-based compensation expense, net	$ 10	$ 12	$ 12

Note 8 - Stock-based Compensa_5

Note 8 - Stock-based Compensation - Summary of Restricted Common Stock Activity (Details) - $ / shares	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Restricted Stock [Member]
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
Granted, Shares (in shares)	731,374	359,481	751,463
Granted, Weighted average grant date fair value (in dollars per share)	$ 19.73	$ 18.92	$ 16.07
Vested, Shares (in shares)	(613,179)	(333,865)	(352,810)
Vested, Weighted average grant date fair value (in dollars per share)	$ 15.48	$ 15.35	$ 12.98
Forfeited, Shares (in shares)	0	(85,630)	0
Forfeited, Weighted average grant date fair value (in dollars per share)	$ 0	$ 15.53	$ 0
Outstanding, Shares (in shares)	1,035,728	917,533	977,547
Outstanding, Weighted average grant date fair value (in dollars per share)	$ 19.69	$ 16.84	$ 15.45
Restricted Stock [Member] | Common Class A [Member]
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
Granted, Shares (in shares)	488,918	166,814	199,810
Granted, Weighted average grant date fair value (in dollars per share)	$ 18.66	$ 19.87	$ 15.36
Vested, Shares (in shares)	(248,539)	(136,056)	(158,312)
Vested, Weighted average grant date fair value (in dollars per share)	$ 15	$ 12.32	$ 11.38
Outstanding, Shares (in shares)	720,421	480,042	449,284
Outstanding, Weighted average grant date fair value (in dollars per share)	$ 18.22	$ 16.10	$ 13.55
Restricted Stock Units (RSUs) [Member]
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
Granted, Shares (in shares)	95,115	93,184	398,000
Granted, Weighted average grant date fair value (in dollars per share)	$ 19.05	$ 18.77	$ 18.21
Vested, Shares (in shares)	(60,052)	(374,500)	0
Vested, Weighted average grant date fair value (in dollars per share)	$ 18.92	$ 18.18	$ 0
Forfeited, Shares (in shares)	0	(26,500)	0
Forfeited, Weighted average grant date fair value (in dollars per share)	$ 0	$ 18.21	$ 0
Outstanding, Shares (in shares)	125,247	90,184	398,000
Outstanding, Weighted average grant date fair value (in dollars per share)	$ 19.02	$ 18.92	$ 18.21

Note 9 - Leases (Details Textua

Note 9 - Leases (Details Textual) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Operating Lease, Cost	$ 12	$ 13
Short-term Lease, Cost	12	14
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability	$ 21	$ 14
Operating Lease, Weighted Average Remaining Lease Term (Year)	10 years 2 months 12 days
Operating Lease, Weighted Average Discount Rate, Percent	6.67%
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, 2021USD ($)
2022	$ 13
2023	11
2024	11
2025	10
2026	9
Thereafter	46
Total lease payments	100
Less: Imputed interest	(28)
Present value of lease liabilities	$ 72

Note 10 - Income Taxes (Details

Note 10 - Income Taxes (Details Textual) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Increase (Decrease) in Obligation, Pension Benefits	$ (16)	$ 10	$ 7
Other Comprehensive (Income) Loss, Defined Benefit Plan, after Reclassification Adjustment, after Tax, Total	12	(8)	(5)
Other Comprehensive (Income) Loss, Defined Benefit Plan, after Reclassification Adjustment, Tax, Total	4	2	2
Income Taxes Paid, Net, Total	149	70	$ 23
Unrecognized Tax Benefits, Ending Balance	16
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued, Total	1
Proceeds from Income Tax Refunds		$ 21
Domestic Tax Authority [Member]
Operating Loss Carryforwards, Total	10
State and Local Jurisdiction [Member]
Operating Loss Carryforwards, Total	$ 424

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, 2021	Dec. 31, 2020	Dec. 31, 2019
Federal	$ 74	$ 39	$ 8
State and local	26	20	13
Current income tax expense	100	59	21
Federal	(12)	64	54
State and local	(10)	11	1
Deferred income tax expense	(22)	75	55
Income tax expense as recorded	$ 78	$ 134	$ 76

Note 10 - Income Taxes - Signif

Note 10 - Income Taxes - Significant Components of Deferred Tax Liabilities and Assets (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Deferred tax liabilities:
Net book value of property and equipment	$ 146	$ 92
Broadcast licenses, goodwill and other intangible assets	1,373	878
Total deferred tax liabilities	1,519	970
Deferred tax assets:
Liability for accrued vacation	5	4
Liability for accrued bonus	9	5
Deferred payroll taxes	2	3
Allowance for credit losses	4	3
Liability for pension plan	6	11
Federal operating loss carryforwards	2	38
State and local operating loss carryforwards	24	21
Acquisition costs	2	2
Restricted stock	4	4
Investments	4	4
Interest expense limitation	4	4
Other	4	1
Total deferred tax assets	70	100
Valuation allowance for deferred tax assets	(22)	(15)
Net deferred tax assets	48	85
Deferred tax liabilities, net of deferred tax assets	$ 1,471	$ 885

Note 10 - Income Taxes - Reconc

Note 10 - Income Taxes - Reconciliation of Income Tax Expense (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Statutory federal rate applied to income before income tax expense	$ 35	$ 114	$ 53
Current year permanent items	33	3	13
State and local taxes, net of federal tax benefit	10	27	13
Change in valuation allowance	0	1	(2)
Net operating loss carryback	0	(7)	0
Other items, net	0	(4)	(1)
Income tax expense as recorded	$ 78	$ 134	$ 76
Effective income tax rate	46.00%	25.00%	30.00%

Note 11 - Retirement Plans (Det

Note 11 - Retirement Plans (Details Textual) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Common Stock, Capital Shares Reserved for Future Issuance (in shares)	2,821,480	4,006,948
Defined Benefit Plan, Plan Assets, Amount, Ending Balance	$ 119	$ 108	$ 97
Pension Plan [Member] | Gray Pension Plan [Member]
Defined Benefit Plan, Accumulated Benefit Obligation	140	151
Defined Benefit Plan, Expected Future Employer Contributions, Next Fiscal Year	4
Capital Accumulation Plan [Member]
Defined Contribution Plan, Employer Discretionary Contribution Amount	15	13	11
Defined Contribution Plan, Expected Contributions In Next Twelve Months	$ 17
Common Stock, Capital Shares Reserved for Future Issuance (in shares)	566,267
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	$ 7	$ 6	$ 5
Meredith Plan [Member]
Defined Benefit Plan, Plan Assets, Amount, Ending Balance	15
Defined Benefit Plan, Pension Plan with Projected Benefit Obligation in Excess of Plan Assets, Projected Benefit Obligation	$ 17

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, 2021	Dec. 31, 2020	Dec. 31, 2019
Projected benefit obligation at beginning of year	$ 151	$ 135
Interest cost	4	4	$ 5
Actuarial (gain) loss	(11)	16
Benefits paid	(4)	(4)
Projected benefit obligation at end of year	140	151	135
Fair value of pension plan assets at beginning of year	108	97
Actual return on plan assets	12	12
Company contributions	3	3
Benefits paid	(4)	(4)
Fair value of pension plan assets at end of year	119	108	$ 97
Funded status of pension plan	(21)	(43)
Accrued benefit cost	15	10
Accumulated other comprehensive loss	(36)	(53)
Net liability recognized	$ (21)	$ (43)

Note 11 - Retirement Plans - Es

Note 11 - Retirement Plans - Estimated Rate of Increase in Compensation Levels (Details)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Discount rate	2.38%	3.14%
Expected long-term rate of return on pension plan assets	6.25%	6.50%
Discount rate	2.73%	2.38%

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, 2021	Dec. 31, 2020	Dec. 31, 2019
Interest cost	$ 4	$ 4	$ 5
Expected return on plan assets	(7)	(6)	(5)
Recognized net actuarial loss	1	1	0
Net periodic pension benefit	$ (2)	$ (1)	$ 0

Note 11 - Retirement Plans - _2

Note 11 - Retirement Plans - Estimated Future Benefit Payments for Subsequent Years (Details) $ in Millions	Dec. 31, 2021USD ($)
2021	$ 4
2022	5
2023	5
2024	5
2025	6
2026 - 2030	$ 31

Note 11 - Retirement Plans - Al

Note 11 - Retirement Plans - Allocation of Plan Assets (Details)	Dec. 31, 2021	Dec. 31, 2020
Plan assets, percent	100.00%	100.00%
Insurance General Account [Member]
Plan assets, percent	13.00%	15.00%
Cash and Cash Equivalents [Member]
Plan assets, percent	2.00%	3.00%
Equity Securities [Member]
Plan assets, percent	50.00%	48.00%
Fixed Income Securities [Member]
Plan assets, percent	33.00%	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, 2021
Large Cap Blend [Member]
Target range	27.00%
Large Cap Blend [Member] | Minimum [Member]
Target range	0.00%
Large Cap Blend [Member] | Maximum [Member]
Target range	50.00%
Mid-cap Blend [Member]
Target range	10.00%
Mid-cap Blend [Member] | Minimum [Member]
Target range	0.00%
Mid-cap Blend [Member] | Maximum [Member]
Target range	40.00%
Small Cap Blend [Member]
Target range	6.00%
Small Cap Blend [Member] | Minimum [Member]
Target range	0.00%
Small Cap Blend [Member] | Maximum [Member]
Target range	25.00%
Foreign Large Blend [Member]
Target range	11.00%
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	3.00%
Emerging Markets [Member] | Minimum [Member]
Target range	0.00%
Emerging Markets [Member] | Maximum [Member]
Target range	25.00%
Real Estate [Member]
Target range	3.00%
Real Estate [Member] | Minimum [Member]
Target range	0.00%
Real Estate [Member] | Maximum [Member]
Target range	20.00%
US Treasury Securities [Member]
Target range	3.50%
US Treasury Securities [Member] | Minimum [Member]
Target range	0.00%
US Treasury Securities [Member] | Maximum [Member]
Target range	25.00%
Intermediate Core Plus Bond [Member]
Target range	25.00%
Intermediate Core Plus Bond [Member] | Minimum [Member]
Target range	0.00%
Intermediate Core Plus Bond [Member] | Maximum [Member]
Target range	50.00%
Short-term Bond [Member]
Target range	3.00%
Short-term Bond [Member] | Minimum [Member]
Target range	0.00%
Short-term Bond [Member] | Maximum [Member]
Target range	25.00%
Bank Loan [Member]
Target range	0.00%
Bank Loan [Member] | Minimum [Member]
Target range	0.00%
Bank Loan [Member] | Maximum [Member]
Target range	25.00%
High Yield Bond [Member]
Target range	4.00%
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	3.00%
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	1.50%
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, 2021	Dec. 31, 2020	Dec. 31, 2019
Defined benefit plan, fair value of plan assets	$ 119	$ 108	$ 97
Fair Value, Inputs, Level 1 [Member]
Defined benefit plan, fair value of plan assets	104	92
Fair Value, Inputs, Level 2 [Member]
Defined benefit plan, fair value of plan assets	15	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	15	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	15	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	3
Cash and Cash Equivalents [Member] | Fair Value, Inputs, Level 1 [Member]
Defined benefit plan, fair value of plan assets	3	3
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	59	52
Equity Securities [Member] | Fair Value, Inputs, Level 1 [Member]
Defined benefit plan, fair value of plan assets	59	52
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	39	35
Fixed Income Securities [Member] | Fair Value, Inputs, Level 1 [Member]
Defined benefit plan, fair value of plan assets	39	35
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	3	2
Real Estate [Member] | Fair Value, Inputs, Level 1 [Member]
Defined benefit plan, fair value of plan assets	3	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, 2021USD ($)
Contractual obligations, 2022	$ 860
Contractual obligations, 2023	553
Contractual obligations, 2024	273
Contractual obligations, 2025	30
Contractual obligations, 2026	7
Contractual obligations, therafter	0
Contractual obligations, total	1,723
Assembly Development [Member]
Purchase obligations, 2022	71
Purchase obligations, 2023	8
Purchase obligations, 2024	0
Purchase obligations, 2025	0
Purchase obligations, 2026	0
Purchase obligations, thereafter	0
Purchase obligations, total	79
Syndicated Television Programming [Member]
Purchase obligations, 2022	13
Purchase obligations, 2023	28
Purchase obligations, 2024	6
Purchase obligations, 2025	5
Purchase obligations, 2026	3
Purchase obligations, thereafter	0
Purchase obligations, total	55
Network Affiliation Agreements [Member]
Purchase obligations, 2022	725
Purchase obligations, 2023	481
Purchase obligations, 2024	243
Purchase obligations, 2025	11
Purchase obligations, 2026	0
Purchase obligations, thereafter	0
Purchase obligations, total	1,460
Service and Other Agreements [Member]
Purchase obligations, 2022	51
Purchase obligations, 2023	36
Purchase obligations, 2024	24
Purchase obligations, 2025	14
Purchase obligations, 2026	4
Purchase obligations, thereafter	0
Purchase obligations, total	$ 129

Note 13 - Goodwill and Intang_3

Note 13 - Goodwill and Intangible Assets (Details Textual) $ in Thousands	12 Months Ended
	Dec. 31, 2021USD ($)
Finite-Lived Intangible Asset, Expected Amortization, Year One	$ 204,000
Finite-Lived Intangible Asset, Expected Amortization, Year Two	194,000
Finite-Lived Intangible Asset, Expected Amortization, Year Three	128,000
Finite-Lived Intangible Asset, Expected Amortization, Year Four	117,000
Finite-Lived Intangible Asset, Expected Amortization, Year Five	88,000
Goodwill, Impairment Loss	$ 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, 2021	Dec. 31, 2020	Dec. 31, 2019
Goodwill	$ 1,460	$ 1,446
Goodwill, Net additions	1,211	14
Goodwill, Dispositions	(22)
Goodwill	2,649	1,460	$ 1,446
Broadcast licenses	3,579
Broadcast licenses	5,303	3,579
Finite-lived intangible assets	395	460
Finite-lived Intangible Assets Acquired	547	40
Amortization of Intangible Assets	(117)	(105)	(115)
Finite-lived intangible assets	825	395	460
Total intangible assets net of accumulated amortization	5,434	5,479
Total intangible assets net of accumulated amortization, Net additions	3,529	60
Total intangible assets net of accumulated amortization, Dispositions	(69)
Total intangible assets net of accumulated amortization	8,777	5,434	5,479
Broadcast Licenses [Member]
Broadcast licenses	3,579	3,573
Indefinite-lived Intangible Assets Acquired	1,771	6
Broadcast licenses, Dispositions	(47)
Broadcast licenses	$ 5,303	$ 3,579	$ 3,573

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, 2021	Dec. 31, 2020
Goodwill, gross	$ 1,559	$ 1,545
Goodwill, Net additions	1,211	14
Goodwill, dispositions	(22)
Goodwill, gross	2,748	1,559
Accumulated goodwill impairment	(99)	(99)
Accumulated goodwill impairment	(99)	(99)
Goodwill	1,460	1,446
Goodwill	$ 2,649	$ 1,460

Note 13 - Goodwill and Intang_6

Note 13 - Goodwill and Intangible Assets - Intangible Assets and Related Accumulated Amortization (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Goodwill, Gross	$ 2,748	$ 1,559	$ 1,545
Goodwill	2,649	1,460	1,446
Other intangible assets, net	825	395	460
Total intangible assets, gross	9,260	5,804
Total intangible assets, accumulated amortization	(483)	(370)
Total intangible assets, net	8,777	5,434	$ 5,479
Network Affiliate [Member]
Finite-Lived Intangible Assets, Gross	204	67
Finite-Lived Intangible Assets, Accumulated Amortization	(44)	(28)
Other intangible assets, net	160	39
Other Intangible Assets [Member]
Finite-Lived Intangible Assets, Gross	1,051	644
Finite-Lived Intangible Assets, Accumulated Amortization	(386)	(288)
Other intangible assets, net	665	356
Intangible Assets Subject to Amortization [Member]
Finite-Lived Intangible Assets, Gross	1,255	711
Finite-Lived Intangible Assets, Accumulated Amortization	(430)	(316)
Other intangible assets, net	825	395
Broadcast Licenses [Member]
Indefinite-lived Intangible Assets (Excluding Goodwill), Gross	5,356	3,633
Indefinite-Lived Intangible Assets (Excluding Goodwill), Accumulated Amortization	(53)	(54)
Indefinite-Lived Intangible Assets (Excluding Goodwill)	5,303	3,579
Goodwill Not Amortizable [Member]
Goodwill, Gross	2,649	1,460
Goodwill, Accumulated Amortization	0	0
Goodwill	2,649	1,460
Intangible Assets Not Subject to Amortization [Member]
Goodwill and Indefinite-Lived Intangible Assets, Gross	8,005	5,093
Goodwill and Indefinite-lived Intangible Assets, Accumulated Amortization	(53)	(54)
Goodwill and Indefinite-Lived Assets, Net	$ 7,952	$ 5,039

Note 14 - Segment Information_2

Note 14 - Segment Information (Details Textual)	12 Months Ended
	Dec. 31, 2021
Number of Operating Segments	2

Note 14 - Segment Information -

Note 14 - Segment Information - Segment Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Revenue (less agency commissions)	$ 2,413	$ 2,381	$ 2,122
Operating expenses before depreciation, amortization and loss on disposal of assets, net:	1,769	1,457	1,503
Depreciation and amortization	221	201	195
Loss on disposal of assets, net	42	(29)	(54)
Total operating expenses	2,032	1,629	1,644
Operating income	381	752	478
Interest expense	205	191	227
Capital expenditures (excluding business combinations)	207	110	110
Goodwill	2,649	1,460	1,446
Total assets	11,108	7,643	6,972
(Gain) loss on disposal of assets, net	42	(29)	(54)
Corporate, Non-Segment [Member]
Revenue (less agency commissions)	0	0	0
Operating expenses before depreciation, amortization and loss on disposal of assets, net:	159	65	104
Depreciation and amortization	3	3	2
Loss on disposal of assets, net	1	0	0
Total operating expenses	163	68	106
Operating income	(163)	(68)	(106)
Interest expense	205	191	227
Capital expenditures (excluding business combinations)	3	0	5
Goodwill	0	0	0
Total assets	247	871	289
(Gain) loss on disposal of assets, net	1	0	0
Broadcasting, Segment [Member]
Revenue (less agency commissions)	2,340	2,320	2,035
Operating expenses before depreciation, amortization and loss on disposal of assets, net:	1,548	1,340	1,325
Depreciation and amortization	206	186	180
Loss on disposal of assets, net	41	(31)	(54)
Total operating expenses	1,795	1,495	1,451
Operating income	545	825	584
Interest expense	0	0	0
Capital expenditures (excluding business combinations)	94	106	104
Goodwill	2,604	1,419	1,405
Total assets	10,592	6,631	6,530
(Gain) loss on disposal of assets, net	41	(31)	(54)
Production Companies, Segment [Member]
Revenue (less agency commissions)	73	61	87
Operating expenses before depreciation, amortization and loss on disposal of assets, net:	62	52	74
Depreciation and amortization	12	12	13
Loss on disposal of assets, net	0	2	0
Total operating expenses	74	66	87
Operating income	(1)	(5)	0
Interest expense	0	0	0
Capital expenditures (excluding business combinations)	110	4	1
Goodwill	45	41	41
Total assets	269	141	153
(Gain) loss on disposal of assets, net	$ 0	$ 2	$ 0

Note 15 - Subsequent Events (De

Note 15 - Subsequent Events (Details Textual) $ in Millions	Feb. 02, 2022USD ($)
Atlanta Telemundo Transaction [Member] | Subsequent Event [Member]
Payments to Acquire Businesses, Gross	$ 30

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, 2021	Dec. 31, 2020	Dec. 31, 2019
Beginning balance			$ 14
Charged to costs and expenses				$ 14
Ending balance				14
Ending balance				14
SEC Schedule, 12-09, Allowance, Credit Loss [Member]
Beginning balance		$ 10	11	5
Charged to costs and expenses		4	2	11
Charged to other accounts		3
Deductions	[1]	(1)	(3)	(5)
Ending balance		16	10	11
Ending balance		16	10	11
SEC Schedule, 12-09, Valuation Allowance, Deferred Tax Asset [Member]
Beginning balance		15	14
Charged to costs and expenses		7	1
Ending balance		22	15	14
Ending balance		$ 22	$ 15	$ 14
[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.