Gray Television (GTN) 10-Q 4 Nov 22 2022 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Sep. 30, 2022	Oct. 28, 2022
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	Q3
Document Fiscal Year Focus	2022
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2022
Document Transition Report	false
Entity File Number	1-13796
Entity Incorporation, State or Country Code	GA
Entity Tax Identification Number	58-0285030
Entity Address, Address Line One	4370 Peachtree Road, NE
Entity Address, City or Town	Atlanta
Entity Address, State or Province	GA
Entity Address, Postal Zip Code	30319
City Area Code	404
Local Phone Number	504-9828
Entity 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
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		7,573,222
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		85,521,216

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Assets:
Cash	$ 144	$ 189
Accounts receivable, less allowance for credit losses of $12 and $16, respectively	615	624
Current portion of program broadcast rights, net	38	35
Income tax refund receivable	22	21
Prepaid income taxes	61	40
Prepaid and other current assets	54	54
Total current assets	934	963
Property and equipment, net	1,366	1,165
Operating leases right of use asset	73	70
Broadcast licenses	5,326	5,303
Goodwill	2,657	2,649
Other intangible assets, net	687	825
Investments in broadcasting, production and technology companies	125	117
Other	15	16
Total assets	11,183	11,108
Liabilities and stockholders’ equity:
Accounts payable	40	59
Employee compensation and benefits	90	97
Accrued interest	86	52
Accrued network programming fees	39	34
Other accrued expenses	40	44
Federal and state income taxes	8	10
Current portion of program broadcast obligations	40	37
Deferred revenue	64	14
Dividends payable	14	13
Current portion of operating lease liabilities	10	9
Current portion of long-term debt	15	15
Total current liabilities	446	384
Long-term debt, less current portion and deferred financing costs	6,590	6,740
Program broadcast obligations, less current portion	2	5
Deferred income taxes	1,468	1,471
Accrued pension costs	16	24
Operating lease liabilities, less current portion	65	63
Other	14	14
Total liabilities	8,601	8,701
Commitments and contingencies (Note 10)
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:
Retained earnings	1,076	869
Accumulated other comprehensive loss, net of income tax benefit	(27)	(27)
Stockholders' equity before treasury stock	2,239	2,008
Total stockholders’ equity	1,932	1,757
Total liabilities and stockholders’ equity	11,183	11,108
Common Stock (No Par Value) [Member]
Stockholders’ equity:
Common stock	1,146	1,127
Treasury stock at cost	(277)	(223)
Class A Common Stock (No Par Value) [Member]
Stockholders’ equity:
Common stock	44	39
Treasury stock at cost	$ (30)	$ (28)

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) $ / shares in Thousands, $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Accounts receivable, allowance for credit losses	$ 12	$ 16
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, shares authorized (in shares)	200,000,000
Common Stock (No Par Value) [Member]
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)	105,104,057	104,286,324
Common stock, shares outstanding (in shares)	85,521,216	87,539,056
Treasury stock (in shares)	19,582,841	16,747,268
Class A Common Stock (No Par Value) [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)	9,675,139	9,424,691
Common stock, shares outstanding (in shares)	7,573,222	7,426,512
Treasury stock (in shares)	2,101,917	1,998,179

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Revenue (less agency commissions)	$ 909	$ 601	$ 2,604	$ 1,692
Operating expenses before depreciation, amortization and loss (gain) on disposal of assets, net:
Depreciation			96	76
Amortization of intangible assets			156	81
(Gain) loss on disposal of assets, net	(1)	51	(6)	46
Operating expenses	664	534	1,977	1,416
Operating income	245	67	627	276
Other expense:
Miscellaneous expense, net	(1)	(1)	(3)	(7)
Interest expense	(94)	(48)	(254)	(143)
Income before income taxes	150	18	370	126
Income tax expense	42	35	101	65
Net income (loss)	108	(17)	269	61
Preferred stock dividends	13	13	39	39
Net income (loss) attributable to common stockholders	$ 95	$ (30)	$ 230	$ 22
Basic per share information:
Net income (loss) attributable to common stockholders (in dollars per share)	$ 1.04	$ (0.32)	$ 2.47	$ 0.23
Weighted-average shares outstanding (in shares)	91	95	93	94
Diluted per share information:
Net income (loss) attributable to common stockholders (in dollars per share)	$ 1.03	$ (0.32)	$ 2.47	$ 0.23
Weighted-average shares outstanding (in shares)	92	95	93	95
Dividends declared per common share (in dollars per share)	$ 0.08	$ 0.08	$ 0.24	$ 0.24
Broadcasting, Segment [Member]
Revenue (less agency commissions)	$ 889	$ 581	$ 2,548	$ 1,648
Operating expenses before depreciation, amortization and loss (gain) on disposal of assets, net:
Cost of goods and services sold	537	384	1,595	1,099
Operating expenses			1,829	1,291
Operating income			719	357
Other expense:
Interest expense			0	0
Production Companies, Segment [Member]
Revenue (less agency commissions)	20	20	56	44
Operating expenses before depreciation, amortization and loss (gain) on disposal of assets, net:
Cost of goods and services sold	16	13	56	39
Operating expenses			66	48
Operating income			(10)	(4)
Other expense:
Interest expense			0	0
Other Segments [Member]
Revenue (less agency commissions)			0	0
Operating expenses before depreciation, amortization and loss (gain) on disposal of assets, net:
Corporate and administrative	27	32	80	75
Depreciation	33	26	96	76
Amortization of intangible assets	$ 52	$ 28	156	81
Operating expenses			82	77
Operating income			(82)	(77)
Other expense:
Interest expense			$ (254)	$ (143)

Condensed Consolidated Statem_2

Condensed Consolidated Statement of Stockholders' Equity (Unaudited) - 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, 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	39	0	0	0	39
Preferred stock dividends															0	0	(13)	0	0	0	(13)
Common stock dividends															$ 0	$ 0	(8)	$ 0	$ 0	0	(8)
401(k) Plan (in shares)															0	390,389		0	0
401(k) Plan															$ 0	$ 7	0	$ 0	$ 0	0	7
Restricted stock awards (in shares)	233,425	296,042		(110,412)	(239,597)			0	60,050		0	(18,275)
Restricted stock awards	$ 0	$ 0	$ 0	$ (2)	$ (4)	$ 0	$ (6)	$ 0	$ 0	$ 0	$ 0	$ (1)	$ 0	$ (1)
Stock-based compensation															$ 1	$ 2	0	$ 0	$ 0	0	3
Balance (in shares) at Mar. 31, 2021															9,169,198	103,847,337		(1,998,179)	(15,218,469)
Balance at Mar. 31, 2021															$ 35	$ 1,119	880	$ (28)	$ (193)	(39)	1,774
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																					61
Common stock dividends																					(23)
Balance (in shares) at Sep. 30, 2021															9,169,198	103,898,352		(1,998,179)	(15,246,180)
Balance at Sep. 30, 2021															$ 37	$ 1,124	861	$ (28)	$ (193)	(39)	1,762
Balance (in shares) at Mar. 31, 2021															9,169,198	103,847,337		(1,998,179)	(15,218,469)
Balance at Mar. 31, 2021															$ 35	$ 1,119	880	$ (28)	$ (193)	(39)	1,774
Net income															0	0	39	0	0	0	39
Preferred stock dividends															0	0	(13)	0	0	0	(13)
Common stock dividends															$ 0	$ 0	(7)	$ 0	$ 0	0	(7)
401(k) Plan (in shares)															0	3,655		0	0
401(k) Plan															$ 0	$ 0	0	$ 0	$ 0	0	0
Restricted stock awards (in shares)	0	47,360		0	(16,991)
Restricted stock awards	$ 0	$ 0	0	$ 0	$ 0	0	0
Stock-based compensation															$ 1	$ 3	0	$ 0	$ 0	0	4
Balance (in shares) at Jun. 30, 2021															9,169,198	103,898,352		(1,998,179)	(15,235,460)
Balance at Jun. 30, 2021															$ 36	$ 1,122	899	$ (28)	$ (193)	(39)	1,797
Net income															0	0	(17)	0	0	0	(17)
Preferred stock dividends															0	0	(13)	0	0	0	(13)
Common stock dividends															0	0	(8)	0	0	0	(8)
Restricted stock awards (in shares)	0	0		0	(10,720)
Restricted stock awards	$ 0	$ 0	0	$ 0	$ 0	0	0
Stock-based compensation															$ 1	$ 2	0	$ 0	$ 0	0	3
Balance (in shares) at Sep. 30, 2021															9,169,198	103,898,352		(1,998,179)	(15,246,180)
Balance at Sep. 30, 2021															$ 37	$ 1,124	861	$ (28)	$ (193)	(39)	1,762
Balance (in shares) at Dec. 31, 2021															9,424,691,000,000	104,286,324,000,000		(1,998,179,000,000)	(16,747,268,000,000)
Balance at Dec. 31, 2021															$ 39	$ 1,127	869	$ (28)	$ (223)	(27)	1,757
Net income															0	0	62	0	0	0	62
Preferred stock dividends															0	0	(13)	0	0	0	(13)
Common stock dividends															$ 0	$ 0	(8)	$ 0	$ 0	0	(8)
401(k) Plan (in shares)															0	307,885,000,000		0	0
401(k) Plan															$ 0	$ 7	0	$ 0	$ 0	0	7
Restricted stock awards (in shares)	250,448,000,000	333,382,000,000		(103,738,000,000)	(138,959,000,000)			0	108,921,000,000		0	(32,958,000,000)
Restricted stock awards	$ 0	$ 0	0	$ (2)	$ (3)	0	(5)	$ 0	$ 0	$ 0	$ 0	$ (1)	$ 0	$ (1)
Stock-based compensation															$ 2	$ 3	0	$ 0	$ 0	0	5
Balance (in shares) at Mar. 31, 2022															9,675,139,000,000	105,036,512,000,000		(2,101,917,000,000)	(16,919,185,000,000)
Balance at Mar. 31, 2022															$ 41	$ 1,137	910	$ (30)	$ (227)	(27)	1,804
Balance (in shares) at Dec. 31, 2021															9,424,691,000,000	104,286,324,000,000		(1,998,179,000,000)	(16,747,268,000,000)
Balance at Dec. 31, 2021															$ 39	$ 1,127	869	$ (28)	$ (223)	(27)	1,757
Net income																					269
Common stock dividends																					(23)
Balance (in shares) at Sep. 30, 2022															9,675,139,000,000	105,104,057,000,000		(2,101,917,000,000)	(19,582,841,000,000)
Balance at Sep. 30, 2022															$ 44	$ 1,146	1,076	$ (30)	$ (277)	(27)	1,932
Balance (in shares) at Mar. 31, 2022															9,675,139,000,000	105,036,512,000,000		(2,101,917,000,000)	(16,919,185,000,000)
Balance at Mar. 31, 2022															$ 41	$ 1,137	910	$ (30)	$ (227)	(27)	1,804
Net income															0	0	99	0	0	0	99
Preferred stock dividends															0	0	(13)	0	0	0	(13)
Common stock dividends															0	0	(8)	0	0	0	(8)
Restricted stock awards (in shares)	0	67,545,000,000		0	(17,463,000,000)
Restricted stock awards	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0
Stock-based compensation															$ 2	$ 4	0	$ 0	$ 0	0	6
Repurchase of common stock (in shares)															0	0		0	(2,646,193,000,000)
Repurchase of common stock															$ 0	$ 0	0	$ 0	$ (50)	0	(50)
Balance (in shares) at Jun. 30, 2022															9,675,139,000,000	105,104,057,000,000		(2,101,917,000,000)	(19,582,841,000,000)
Balance at Jun. 30, 2022															$ 43	$ 1,141	988	$ (30)	$ (277)	(27)	1,838
Net income															0	0	108	0	0	0	108
Preferred stock dividends															0	0	(13)	0	0	0	(13)
Common stock dividends															0	0	(7)	0	0	0	(7)
Stock-based compensation															$ 1	$ 5	0	$ 0	$ 0	0	6
Balance (in shares) at Sep. 30, 2022															9,675,139,000,000	105,104,057,000,000		(2,101,917,000,000)	(19,582,841,000,000)
Balance at Sep. 30, 2022															$ 44	$ 1,146	$ 1,076	$ (30)	$ (277)	$ (27)	$ 1,932

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Operating activities:
Net income	$ 269	$ 61
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	96	76
Amortization of intangible assets	156	81
Amortization of deferred loan costs	12	9
Amortization stock-based compensation	17	10
Amortization of program broadcast rights	36	26
Payments on program broadcast obligations	(37)	(27)
Common stock contributed to 401(k) plan	0	1
Deferred income taxes	(4)	(18)
(Gain) loss on disposals of assets, net	(6)	46
Other	2	(6)
Changes in operating assets and liabilities:
Accounts receivable	9	6
Prepaid income taxes	(22)	(28)
Other current assets	1	33
Accounts payable	(20)	23
Employee compensation, benefits and pension cost	(5)	19
Accrued network fees and other expenses	10	(13)
Accrued interest	34	13
Income taxes payable	(2)	(17)
Deferred revenue	50	(12)
Net cash provided by operating activities	596	283
Investing activities:
Acquisitions of businesses and licenses, net of cash acquired	(53)	(956)
Proceeds from sale of television stations	0	470
Purchases of property and equipment	(298)	(154)
Proceeds from Repack reimbursement (Note 1)	7	10
Proceeds from asset sales	2	3
Investments in broadcast, production and technology companies	(16)	(37)
Other	(4)	0
Net cash used in investing activities	(362)	(664)
Financing activities:
Borrowings of long-term debt	0	250
Repayments of long-term debt	(161)	(250)
Repurchase of common stock	(50)	0
Payments of common stock dividends	(23)	(23)
Payments of preferred stock dividends	(39)	(39)
Deferred and other loan costs	0	(1)
Payments of taxes related to net share settlement of equity awards	(6)	(7)
Net cash used in financing activities	(279)	(70)
Net (decrease) increase in cash	(45)	(451)
Cash at beginning of period	189	773
Cash at end of period	$ 144	$ 322

Note 1 - Basis of Presentation

Note 1 - Basis of Presentation	9 Months Ended
	Sep. 30, 2022
Notes to Financial Statements
Organization, Consolidation, Basis of Presentation, Business Description and Accounting Policies [Text Block]	1. Basis of Presentation The accompanying condensed consolidated balance sheet of Gray Television, Inc. (and its consolidated subsidiaries, except as the context otherwise provides, “Gray,” the “Company,” “we,” “us,” and “our”) as of December 31, 2021, December 31, 2021, September 30, 2022 September 30, 2022 2021, 10 10 X. not two not 10 December 31, 2021 ( “2021 10 three nine September 30, 2022, not may December 31, 2022. Overview. 113 36 first second Investments in Broadcasting, Production and Technology Companies. may Investments in non-public businesses that do not not not Use of Estimates. Earnings Per Share. not not The following table reconciles basic weighted-average shares outstanding to diluted weighted-average shares outstanding for the three nine September 30, 2022 2021, Three Months Ended Nine Months Ended September 30, September 30, 2022 2021 2022 2021 Weighted-average shares outstanding-basic 91 95 93 94 Common stock equivalents for stock options and restricted stock 1 - - 1 Weighted-average shares outstanding-diluted 92 95 93 95 Accumulated Other Comprehensive Loss. September 30, 2022 December 31, 2021, nine September 30, 2022 2021 September 30, 2022 December 31, 2021, September 30, December 31, 2022 2021 Accumulated balances of items included in accumulated other comprehensive loss: Increase in pension liability $ (36 ) $ (36 ) Income tax benefit (9 ) (9 ) Accumulated other comprehensive loss $ (27 ) $ (27 ) Property and Equipment. Estimated September 30, December 31, Useful Lives 2022 2021 (in years) Property and equipment, net: Land $ 287 $ 277 Buildings and improvements 466 453 7 to 40 Equipment 991 961 3 to 20 Construction in progress 299 63 2,043 1,754 Accumulated depreciation (677 ) (589 ) Total property and equipment, net $ 1,366 $ 1,165 Maintenance, repairs and minor replacements are charged to operations as incurred; major replacements and betterments are capitalized. The cost of any assets divested, sold or retired and the related accumulated depreciation are removed from the accounts at the time of disposition, and any resulting gain or loss is reflected in income or expense for the period. In April 2017, The following tables provide additional information related to gain on disposal of assets, net included in our condensed consolidated statements of operations and purchases of property and equipment included in our condensed consolidated statements of cash flows (in millions): Three Months Ended Nine Months Ended September 30, September 30, 2022 2021 2022 2021 Gain (loss) on disposal of assets, net: Proceeds from sale of assets $ - $ - $ 2 $ 3 Proceeds from FCC - Repack 2 4 7 10 Net book value of assets disposed (1 ) (2 ) (3 ) (6 ) Non-cash loss on divestitures - (53 ) - (53 ) Total $ 1 $ (51 ) $ 6 $ (46 ) Purchase of property and equipment: Recurring purchases - operations $ 118 $ 57 Assembly Atlanta project 179 91 Repack 1 6 Total $ 298 $ 154 Accounts Receivable and Allowance for Credit Losses. 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 condensed consolidated balance sheets (in millions): Nine Months Ended September 30, 2022 2021 Beginning balance $ 16 $ 10 Provision for credit losses (3 ) 2 Amounts written off (1 ) (1 ) Ending balance $ 12 $ 11 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 standard described above, once implemented, certain amounts in our disclosures of revenues have been reclassified to conform to the current presentation. Beginning in 2022,

Note 2 - Revenue

Note 2 - Revenue	9 Months Ended
	Sep. 30, 2022
Notes to Financial Statements
Revenue from Contract with Customer [Text Block]	2. Revenue Revenue Recognition. 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. These deposits are recorded as deposit liabilities on our balance sheets. 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 sheets. We generally 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 $13 million of revenue in the nine September 30, 2022 December 31, 2021. September 30, 2022 December 31, 2021, Disaggregation of Revenue. Three Months Ended Nine Months Ended September 30, September 30, 2022 2021 2022 2021 Market and service type: Advertising: Core $ 359 $ 292 $ 1,090 $ 831 Political 144 9 260 24 Total advertising 503 301 1,350 855 Retransmission consent 368 266 1,143 755 Production companies 20 20 56 44 Other 18 14 55 38 Total revenue $ 909 $ 601 $ 2,604 $ 1,692 Sales channel: Direct $ 528 $ 402 $ 1,616 $ 1,117 Advertising agency intermediary 381 199 988 575 Total revenue $ 909 $ 601 $ 2,604 $ 1,692

Note 3 - Acquisition

Note 3 - Acquisition	9 Months Ended
	Sep. 30, 2022
Notes to Financial Statements
Mergers, Acquisitions and Dispositions Disclosures [Text Block]	3. Acquisition On April 1, 2022, 10 The following table summarizes the preliminary values of the assets acquired and resulting goodwill of the Telemundo Atlanta Transaction (in millions): Accounts receivable, net $ 1 Property and equipment 1 Goodwill 10 Broadcast licenses 1 Network affiliation 14 Other intangible assets 4 Total $ 31 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 3 to 40 years. Amounts related to network affiliation and 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

Note 4 - Long-term Debt

Note 4 - Long-term Debt	9 Months Ended
	Sep. 30, 2022
Notes to Financial Statements
Debt Disclosure [Text Block]	4. Long-term Debt As of September 30, 2022 December 31, 2021, 2019 2026 “2026 2027 “2027 2030 “2030 2031 “2031 September 30, December 31, 2022 2021 Long-term debt: 2019 Senior Credit Facility: 2017 Term Loan (matures February 7, 2024) $ 445 $ 595 2019 Term Loan (matures January 2, 2026) 1,190 1,190 2021 Term Loan (matures December 1, 2028) 1,489 1,500 2026 Notes (matures July 15, 2026) 700 700 2027 Notes (matures May 15, 2027) 750 750 2030 Notes (matures October 15, 2030) 800 800 2031 Notes (matures November 15, 2031) 1,300 1,300 Total outstanding principal, including current portion 6,674 6,835 Unamortized deferred loan costs - 2017 Term Loan (5 ) (7 ) Unamortized deferred loan costs - 2019 Term Loan (22 ) (27 ) Unamortized deferred loan costs - 2021 Term Loan (5 ) (5 ) Unamortized deferred loan costs - 2026 Notes (4 ) (5 ) Unamortized deferred loan costs - 2027 Notes (7 ) (8 ) Unamortized deferred loan costs - 2030 Notes (11 ) (13 ) Unamortized deferred loan costs - 2031 Notes (17 ) (18 ) Unamortized premium - 2026 Notes 2 3 Less current portion (15 ) (15 ) Net carrying value $ 6,590 $ 6,740 Borrowing availability under Revolving Credit Facility $ 496 $ 497 As of September 30, 2022, 2017 2019 2021 2019 2019 January 2, 2026 December 1, 2026. As of September 30, 2022, 2022 5 Minimum Principal Maturities Year 2021 Senior Credit Facility 2026 Notes 2027 Notes 2030 Notes 2031 Notes Total Remainder of 2022 $ 4 $ - $ - $ - $ - $ 4 2023 15 - - - - 15 2024 460 - - - - 460 2025 15 - - - - 15 2026 1,205 700 - - - 1,905 2027 15 - 750 - - 765 Thereafter 1,410 - - 800 1,300 3,510 Total $ 3,124 $ 700 $ 750 $ 800 $ 1,300 $ 6,674 As of September 30, 2022, no 2019 2026 2027 2030 2031 September 30, 2022 December 31, 2021, For all our interest bearing obligations, we made interest payments of approximately $212 million and $121 million during the nine September 30, 2022 2021, nine September 30, 2022, not nine September 30, 2021. In the nine September 30, 2022, 2021 2017 Subsequent Event. November 1, 2022, 2017

Note 5 - Fair Value Measurement

Note 5 - Fair Value Measurement	9 Months Ended
	Sep. 30, 2022
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 September 30, 2022 December 31, 2021. As of September 30, 2022 December 31, 2021, third 2

Note 6 - Stockholders' Equity

Note 6 - Stockholders' Equity	9 Months Ended
	Sep. 30, 2022
Notes to Financial Statements
Stockholders' Equity Note Disclosure [Text Block]	6. Stockholders Equity We are authorized to issue 245 million shares in total of all classes of stock consisting of 25 million shares of class A common stock, 200 million shares of common stock, and 20 million shares of “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 Our common stock and Class A common stock are entitled to receive cash dividends if declared, on an equal per-share basis. The Board of Directors declared a quarterly cash dividend of $0.08 per share on our common stock and Class A common stock to shareholders of record on each of March 15, June 15, September 15, 2022 2021, March 31, June 30, September 30, 2022 2021. nine September 30, 2022 2021 On May 5, 2022, 2022 “2022 2022 2017 2022 may, September 30, 2022, 2022 September 30, 2022, “401 During the nine September 30, 2022, September 30, 2022,

Note 7 - Retirement Plans

Note 7 - Retirement Plans	9 Months Ended
	Sep. 30, 2022
Notes to Financial Statements
Retirement Benefits [Text Block]	7. Retirement Plans The components of our net periodic pension benefit are included in miscellaneous expense, net in our condensed consolidated statements of operations. During the nine September 30, 2022, not nine September 30, 2022, During the nine September 30, 2022, 2021 401 2021 December 31, 2021. September 30, 2022, 2022,

Note 8 - Stock-based Compensati

Note 8 - Stock-based Compensation	9 Months Ended
	Sep. 30, 2022
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. The following table provides our stock-based compensation expense and related income tax benefit for the three nine September 30, 2022 2021 Three Months Ended Nine Months Ended September 30, September 30, 2022 2021 2022 2021 Stock-based compensation expense, gross $ 6 $ 3 $ 17 $ 10 Income tax benefit at our statutory rate associated with share-based compensation (2 ) (1 ) (4 ) (3 ) Stock-based compensation expense, net $ 4 $ 2 $ 13 $ 7 All shares of class A common stock and common stock underlying outstanding restricted stock units and performance awards are counted as issued at target levels under the 2022 A summary of restricted class A common stock, common stock and restricted stock units activity for the nine September 30, 2022 2021 Nine Months Ended September 30, 2022 September 30, 2021 Weighted- Weighted- average average Grant Date Grant Date Number of Fair Value Number of Fair Value Shares Per Share Shares Per Share Restricted stock - common: Outstanding - beginning of period (1) 1,035,728 $ 19.69 917,533 $ 16.84 Granted (1) 400,927 $ 21.68 343,402 $ 18.73 Vested (341,918 ) $ 19.03 (613,179 ) $ 15.48 Outstanding - end of period (1) 1,094,737 $ 20.62 647,756 $ 19.13 Restricted stock - class A common: Outstanding - beginning of period (1) 720,421 $ 18.22 480,042 $ 16.10 Granted (1) 250,448 $ 20.52 233,425 $ 17.67 Vested (229,758 ) $ 16.99 (248,539 ) $ 15.00 Outstanding - end of period (1) 741,111 $ 19.38 464,928 $ 17.47 Restricted stock units - common stock: Outstanding - beginning of period 125,247 $ 19.02 90,184 $ 18.92 Granted 259,079 $ 23.87 95,115 $ 19.05 Vested (108,921 ) $ 19.03 (60,052 ) $ 18.92 Forfeited (1,260 ) $ 19.05 - $ - Outstanding - end of period 274,145 $ 23.60 125,247 $ 19.02 ( 1

Note 9 - Leases

Note 9 - Leases	9 Months Ended
	Sep. 30, 2022
Notes to Financial Statements
Leases, Lessee Disclosure [Text Block]	9. Leases We determine if an arrangement is a lease at its inception. Operating lease liabilities are recognized at the lease commencement date based on the present value of lease payments over the lease term. We generally use our incremental borrowing rate based on the information available at the lease commencement date in determining the present value of future payments, because the implicit rate of the lease is generally not may We have operating leases that primarily relate to certain of our facilities, data centers and vehicles. As of September 30, 2022, one not one Cash flow movements related to our lease activities are included in other assets and accounts payable and other liabilities as presented in net cash provided by operating activities in our condensed consolidated statement of cash flows for the nine September 30, 2022. As of September 30, 2022, three nine September 30, 2022 2021, Three Months Ended Nine Months Ended September 30, September 30, 2022 2021 2022 2021 Lease expense Operating lease expense $ 4 $ 3 $ 13 $ 9 Short-term lease expense 1 1 2 2 Total lease expense $ 5 $ 4 $ 15 $ 11 The maturities of operating lease liabilities as of September 30, 2022, 2022 Year ending December 31, Operating Leases Remainder of 2022 $ 4 2023 13 2024 13 2025 12 2026 10 Thereafter 51 Total lease payments 103 Less: Imputed interest (28 ) Present value of lease liabilities $ 75

Note 10 - Commitments and Conti

Note 10 - Commitments and Contingencies	9 Months Ended
	Sep. 30, 2022
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	10. Commitments and Contingencies Legal Matters not Assembly Atlanta June 1, 2022, Assembly Atlanta is expected to be a 135 43 Under the terms of the lease, NBCU will manage all studio and production facilities on-site within the Assembly Studios complex, including Gray’s own studio facilities and Gray’s Third Rail Studios. This arrangement is expected to leverage NBCU’s extensive experience and expertise in managing studio lots, ensure consistency across all the studio operations and leasing opportunities for third We currently expect that our capital expenditures related to Assembly Atlanta will approximate $201 million for full-year 2022 2023. $43 fourth 2022 $59 first three 2023. third 2023. no

Note 11 - Goodwill and Intangib

Note 11 - Goodwill and Intangible Assets	9 Months Ended
	Sep. 30, 2022
Notes to Financial Statements
Goodwill and Intangible Assets Disclosure [Text Block]	11. Goodwill and Intangible Assets A summary of changes in our goodwill and other intangible assets, on a net basis, for the nine September 30, 2022 Net Balance at December 31, 2021 Acquisitions And Adjustments, Net Impairments Amortization Net Balance at September 30, 2022 Broadcast licenses $ 5,303 $ 23 $ - $ - $ 5,326 Goodwill 2,649 8 - - 2,657 Finite-lived intangible assets 825 18 - (156 ) 687 Total intangible assets net of accumulated amortization $ 8,777 $ 49 $ - $ (156 ) $ 8,670 A summary of the changes in our goodwill, on a gross basis, for the nine September 30, 2022, As of As of December 31, Net September 30, 2021 Additions Impairments 2022 Goodwill, gross $ 2,748 $ 8 $ - $ 2,756 Accumulated goodwill impairment (99 ) - - (99 ) Goodwill, net $ 2,649 $ 8 $ - $ 2,657 As of September 30, 2022 December 31, 2021, As of September 30, 2022 As of December 31, 2021 Accumulated Accumulated Gross Amortization Net Gross Amortization Net Intangible assets not currently subject to amortization: Broadcast licenses $ 5,380 $ (54 ) $ 5,326 $ 5,356 $ (53 ) $ 5,303 Goodwill 2,657 - 2,657 2,649 - 2,649 $ 8,037 $ (54 ) $ 7,983 $ 8,005 $ (53 ) $ 7,952 Intangible assets subject to amortization: Network affiliation agreements $ 218 $ (77 ) $ 141 $ 204 $ (44 ) $ 160 Other finite lived intangible assets 1,055 (509 ) 546 1,051 (386 ) 665 $ 1,273 $ (586 ) $ 687 $ 1,255 $ (430 ) $ 825 Total intangibles $ 9,310 $ (640 ) $ 8,670 $ 9,260 $ (483 ) $ 8,777 Amortization expense for the nine September 30, 2022 2021 September 30, 2022, 2022 five 2023, 2024, 2025, 2026, 2027, may

Note 12 - Income Taxes

Note 12 - Income Taxes	9 Months Ended
	Sep. 30, 2022
Notes to Financial Statements
Income Tax Disclosure [Text Block]	12. Income Taxes For the three nine September 30, 2022 2021, Three Months Ended Nine Months Ended September 30, September 30, 2022 2021 2022 2021 Income tax expense $ 42 $ 35 $ 101 $ 65 Effective income tax rate 28 % 194 % 27 % 52 % We estimate our differences between taxable income or loss and recorded income or loss on an annual basis. Our tax provision for each quarter is based upon these full year projections, which are revised each reporting period. These projections incorporate estimates of permanent differences between U.S. GAAP income or loss and taxable income or loss, state income taxes and adjustments to our liability for unrecognized tax benefits to adjust our statutory Federal income tax rate of 21% to our effective income tax rate. For the nine September 30, 2022, nine September 30, 2021, 2 During the nine September 30, 2022, 2022, September 30, 2022, On March 27, 2020, 19 2019 2020, 100% 2021. 2018, 2019, 2020 five 2020,

Note 13 - Segment Information

Note 13 - Segment Information	9 Months Ended
	Sep. 30, 2022
Notes to Financial Statements
Segment Reporting Disclosure [Text Block]	13. Segment Information The Company operates in two business segments: broadcasting and production companies. The broadcasting segment operates television stations in local markets in the U.S. The production companies segment includes the production of television content. Costs identified as other are primarily corporate and administrative expenses. The following tables present certain financial information concerning the Company’s operating segments (in millions): Production As of and for the nine months ended September 30, 2022: Broadcasting Companies Other Consolidated Revenue (less agency commissions) $ 2,548 $ 56 $ - $ 2,604 Operating expenses before depreciation, amortization and loss on disposal of assets, net: 1,595 56 80 1,731 Depreciation and amortization 240 10 2 252 Loss on disposal of assets, net (6 ) - - (6 ) Operating expenses 1,829 66 82 1,977 Operating income (loss) $ 719 $ (10 ) $ (82 ) $ 627 Interest expense $ - $ - $ 254 $ 254 Capital expenditures (excluding business combinations) $ 114 $ 181 $ 3 $ 298 Goodwill $ 2,612 $ 45 $ - $ 2,657 Total assets $ 10,565 $ 358 $ 260 $ 11,183 For the nine months ended September 30, 2021: Revenue (less agency commissions) $ 1,648 $ 44 $ - $ 1,692 Operating expenses before depreciation, amortization and (gain) loss on disposal of assets, net: 1,099 39 75 1,213 Depreciation and amortization 146 9 2 157 (Gain) loss on disposal of assets, net 46 - - 46 Operating expenses 1,291 48 77 1,416 Operating income (loss) $ 357 $ (4 ) $ (77 ) $ 276 Interest expense $ - $ - $ 143 $ 143 Capital expenditures (excluding business combinations) $ 63 $ 88 $ 3 $ 154 As of December 31, 2021: Goodwill $ 2,604 $ 45 $ - $ 2,649 Total assets $ 10,592 $ 269 $ 247 $ 11,108

Significant Accounting Policies

Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2022
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.
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 three nine September 30, 2022 2021, Three Months Ended Nine Months Ended September 30, September 30, 2022 2021 2022 2021 Weighted-average shares outstanding-basic 91 95 93 94 Common stock equivalents for stock options and restricted stock 1 - - 1 Weighted-average shares outstanding-diluted 92 95 93 95
Comprehensive Income, Policy [Policy Text Block]	Accumulated Other Comprehensive Loss. September 30, 2022 December 31, 2021, nine September 30, 2022 2021 September 30, 2022 December 31, 2021, September 30, December 31, 2022 2021 Accumulated balances of items included in accumulated other comprehensive loss: Increase in pension liability $ (36 ) $ (36 ) Income tax benefit (9 ) (9 ) Accumulated other comprehensive loss $ (27 ) $ (27 )
Property, Plant and Equipment, Policy [Policy Text Block]	Property and Equipment. Estimated September 30, December 31, Useful Lives 2022 2021 (in years) Property and equipment, net: Land $ 287 $ 277 Buildings and improvements 466 453 7 to 40 Equipment 991 961 3 to 20 Construction in progress 299 63 2,043 1,754 Accumulated depreciation (677 ) (589 ) Total property and equipment, net $ 1,366 $ 1,165 Maintenance, repairs and minor replacements are charged to operations as incurred; major replacements and betterments are capitalized. The cost of any assets divested, sold or retired and the related accumulated depreciation are removed from the accounts at the time of disposition, and any resulting gain or loss is reflected in income or expense for the period. In April 2017, The following tables provide additional information related to gain on disposal of assets, net included in our condensed consolidated statements of operations and purchases of property and equipment included in our condensed consolidated statements of cash flows (in millions): Three Months Ended Nine Months Ended September 30, September 30, 2022 2021 2022 2021 Gain (loss) on disposal of assets, net: Proceeds from sale of assets $ - $ - $ 2 $ 3 Proceeds from FCC - Repack 2 4 7 10 Net book value of assets disposed (1 ) (2 ) (3 ) (6 ) Non-cash loss on divestitures - (53 ) - (53 ) Total $ 1 $ (51 ) $ 6 $ (46 ) Purchase of property and equipment: Recurring purchases - operations $ 118 $ 57 Assembly Atlanta project 179 91 Repack 1 6 Total $ 298 $ 154
Receivables, Trade and Other Accounts Receivable, Allowance for Doubtful Accounts, Policy [Policy Text Block]	Accounts Receivable and Allowance for Credit Losses. 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 condensed consolidated balance sheets (in millions): Nine Months Ended September 30, 2022 2021 Beginning balance $ 16 $ 10 Provision for credit losses (3 ) 2 Amounts written off (1 ) (1 ) Ending balance $ 12 $ 11
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 standard described above, once implemented, certain amounts in our disclosures of revenues have been reclassified to conform to the current presentation. Beginning in 2022,

Note 1 - Basis of Presentation

Note 1 - Basis of Presentation (Tables)	9 Months Ended
	Sep. 30, 2022
Notes Tables
Schedule of Weighted Average Number of Shares [Table Text Block]	Three Months Ended Nine Months Ended September 30, September 30, 2022 2021 2022 2021 Weighted-average shares outstanding-basic 91 95 93 94 Common stock equivalents for stock options and restricted stock 1 - - 1 Weighted-average shares outstanding-diluted 92 95 93 95
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]	September 30, December 31, 2022 2021 Accumulated balances of items included in accumulated other comprehensive loss: Increase in pension liability $ (36 ) $ (36 ) Income tax benefit (9 ) (9 ) Accumulated other comprehensive loss $ (27 ) $ (27 )
Property, Plant and Equipment [Table Text Block]	Estimated September 30, December 31, Useful Lives 2022 2021 (in years) Property and equipment, net: Land $ 287 $ 277 Buildings and improvements 466 453 7 to 40 Equipment 991 961 3 to 20 Construction in progress 299 63 2,043 1,754 Accumulated depreciation (677 ) (589 ) Total property and equipment, net $ 1,366 $ 1,165
Schedule of Disposal of Assets and Purchase of Property and Equipment [Table Text Block]	Three Months Ended Nine Months Ended September 30, September 30, 2022 2021 2022 2021 Gain (loss) on disposal of assets, net: Proceeds from sale of assets $ - $ - $ 2 $ 3 Proceeds from FCC - Repack 2 4 7 10 Net book value of assets disposed (1 ) (2 ) (3 ) (6 ) Non-cash loss on divestitures - (53 ) - (53 ) Total $ 1 $ (51 ) $ 6 $ (46 ) Purchase of property and equipment: Recurring purchases - operations $ 118 $ 57 Assembly Atlanta project 179 91 Repack 1 6 Total $ 298 $ 154
Accounts Receivable, Allowance for Credit Loss [Table Text Block]	Nine Months Ended September 30, 2022 2021 Beginning balance $ 16 $ 10 Provision for credit losses (3 ) 2 Amounts written off (1 ) (1 ) Ending balance $ 12 $ 11

Note 2 - Revenue (Tables)

Note 2 - Revenue (Tables)	9 Months Ended
	Sep. 30, 2022
Notes Tables
Disaggregation of Revenue [Table Text Block]	Three Months Ended Nine Months Ended September 30, September 30, 2022 2021 2022 2021 Market and service type: Advertising: Core $ 359 $ 292 $ 1,090 $ 831 Political 144 9 260 24 Total advertising 503 301 1,350 855 Retransmission consent 368 266 1,143 755 Production companies 20 20 56 44 Other 18 14 55 38 Total revenue $ 909 $ 601 $ 2,604 $ 1,692 Sales channel: Direct $ 528 $ 402 $ 1,616 $ 1,117 Advertising agency intermediary 381 199 988 575 Total revenue $ 909 $ 601 $ 2,604 $ 1,692

Note 3 - Acquisition (Tables)

Note 3 - Acquisition (Tables)	9 Months Ended
	Sep. 30, 2022
Notes Tables
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]	Accounts receivable, net $ 1 Property and equipment 1 Goodwill 10 Broadcast licenses 1 Network affiliation 14 Other intangible assets 4 Total $ 31

Note 4 - Long-term Debt (Tables

Note 4 - Long-term Debt (Tables)	9 Months Ended
	Sep. 30, 2022
Notes Tables
Schedule of Long-Term Debt Instruments [Table Text Block]	September 30, December 31, 2022 2021 Long-term debt: 2019 Senior Credit Facility: 2017 Term Loan (matures February 7, 2024) $ 445 $ 595 2019 Term Loan (matures January 2, 2026) 1,190 1,190 2021 Term Loan (matures December 1, 2028) 1,489 1,500 2026 Notes (matures July 15, 2026) 700 700 2027 Notes (matures May 15, 2027) 750 750 2030 Notes (matures October 15, 2030) 800 800 2031 Notes (matures November 15, 2031) 1,300 1,300 Total outstanding principal, including current portion 6,674 6,835 Unamortized deferred loan costs - 2017 Term Loan (5 ) (7 ) Unamortized deferred loan costs - 2019 Term Loan (22 ) (27 ) Unamortized deferred loan costs - 2021 Term Loan (5 ) (5 ) Unamortized deferred loan costs - 2026 Notes (4 ) (5 ) Unamortized deferred loan costs - 2027 Notes (7 ) (8 ) Unamortized deferred loan costs - 2030 Notes (11 ) (13 ) Unamortized deferred loan costs - 2031 Notes (17 ) (18 ) Unamortized premium - 2026 Notes 2 3 Less current portion (15 ) (15 ) Net carrying value $ 6,590 $ 6,740 Borrowing availability under Revolving Credit Facility $ 496 $ 497
Schedule of Maturities of Long-Term Debt [Table Text Block]	Minimum Principal Maturities Year 2021 Senior Credit Facility 2026 Notes 2027 Notes 2030 Notes 2031 Notes Total Remainder of 2022 $ 4 $ - $ - $ - $ - $ 4 2023 15 - - - - 15 2024 460 - - - - 460 2025 15 - - - - 15 2026 1,205 700 - - - 1,905 2027 15 - 750 - - 765 Thereafter 1,410 - - 800 1,300 3,510 Total $ 3,124 $ 700 $ 750 $ 800 $ 1,300 $ 6,674

Note 8 - Stock-based Compensa_2

Note 8 - Stock-based Compensation (Tables)	9 Months Ended
	Sep. 30, 2022
Notes Tables
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Table Text Block]	Three Months Ended Nine Months Ended September 30, September 30, 2022 2021 2022 2021 Stock-based compensation expense, gross $ 6 $ 3 $ 17 $ 10 Income tax benefit at our statutory rate associated with share-based compensation (2 ) (1 ) (4 ) (3 ) Stock-based compensation expense, net $ 4 $ 2 $ 13 $ 7
Schedule of Nonvested Restricted Stock Units Activity [Table Text Block]	Nine Months Ended September 30, 2022 September 30, 2021 Weighted- Weighted- average average Grant Date Grant Date Number of Fair Value Number of Fair Value Shares Per Share Shares Per Share Restricted stock - common: Outstanding - beginning of period (1) 1,035,728 $ 19.69 917,533 $ 16.84 Granted (1) 400,927 $ 21.68 343,402 $ 18.73 Vested (341,918 ) $ 19.03 (613,179 ) $ 15.48 Outstanding - end of period (1) 1,094,737 $ 20.62 647,756 $ 19.13 Restricted stock - class A common: Outstanding - beginning of period (1) 720,421 $ 18.22 480,042 $ 16.10 Granted (1) 250,448 $ 20.52 233,425 $ 17.67 Vested (229,758 ) $ 16.99 (248,539 ) $ 15.00 Outstanding - end of period (1) 741,111 $ 19.38 464,928 $ 17.47 Restricted stock units - common stock: Outstanding - beginning of period 125,247 $ 19.02 90,184 $ 18.92 Granted 259,079 $ 23.87 95,115 $ 19.05 Vested (108,921 ) $ 19.03 (60,052 ) $ 18.92 Forfeited (1,260 ) $ 19.05 - $ - Outstanding - end of period 274,145 $ 23.60 125,247 $ 19.02

Note 9 - Leases (Tables)

Note 9 - Leases (Tables)	9 Months Ended
	Sep. 30, 2022
Notes Tables
Lease, Cost [Table Text Block]	Three Months Ended Nine Months Ended September 30, September 30, 2022 2021 2022 2021 Lease expense Operating lease expense $ 4 $ 3 $ 13 $ 9 Short-term lease expense 1 1 2 2 Total lease expense $ 5 $ 4 $ 15 $ 11
Lessee, Operating Lease, Liability, Maturity [Table Text Block]	Year ending December 31, Operating Leases Remainder of 2022 $ 4 2023 13 2024 13 2025 12 2026 10 Thereafter 51 Total lease payments 103 Less: Imputed interest (28 ) Present value of lease liabilities $ 75

Note 11 - Goodwill and Intang_2

Note 11 - Goodwill and Intangible Assets (Tables)	9 Months Ended
	Sep. 30, 2022
Notes Tables
Schedule of Acquired Indefinite-Lived Intangible Assets by Major Class [Table Text Block]	Net Balance at December 31, 2021 Acquisitions And Adjustments, Net Impairments Amortization Net Balance at September 30, 2022 Broadcast licenses $ 5,303 $ 23 $ - $ - $ 5,326 Goodwill 2,649 8 - - 2,657 Finite-lived intangible assets 825 18 - (156 ) 687 Total intangible assets net of accumulated amortization $ 8,777 $ 49 $ - $ (156 ) $ 8,670
Schedule of Goodwill [Table Text Block]	As of As of December 31, Net September 30, 2021 Additions Impairments 2022 Goodwill, gross $ 2,748 $ 8 $ - $ 2,756 Accumulated goodwill impairment (99 ) - - (99 ) Goodwill, net $ 2,649 $ 8 $ - $ 2,657
Schedule of Intangible Assets and Goodwill [Table Text Block]	As of September 30, 2022 As of December 31, 2021 Accumulated Accumulated Gross Amortization Net Gross Amortization Net Intangible assets not currently subject to amortization: Broadcast licenses $ 5,380 $ (54 ) $ 5,326 $ 5,356 $ (53 ) $ 5,303 Goodwill 2,657 - 2,657 2,649 - 2,649 $ 8,037 $ (54 ) $ 7,983 $ 8,005 $ (53 ) $ 7,952 Intangible assets subject to amortization: Network affiliation agreements $ 218 $ (77 ) $ 141 $ 204 $ (44 ) $ 160 Other finite lived intangible assets 1,055 (509 ) 546 1,051 (386 ) 665 $ 1,273 $ (586 ) $ 687 $ 1,255 $ (430 ) $ 825 Total intangibles $ 9,310 $ (640 ) $ 8,670 $ 9,260 $ (483 ) $ 8,777

Note 12 - Income Taxes (Tables)

Note 12 - Income Taxes (Tables)	9 Months Ended
	Sep. 30, 2022
Notes Tables
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]	Three Months Ended Nine Months Ended September 30, September 30, 2022 2021 2022 2021 Income tax expense $ 42 $ 35 $ 101 $ 65 Effective income tax rate 28 % 194 % 27 % 52 %

Note 13 - Segment Information (

Note 13 - Segment Information (Tables)	9 Months Ended
	Sep. 30, 2022
Notes Tables
Schedule of Segment Reporting Information, by Segment [Table Text Block]	Production As of and for the nine months ended September 30, 2022: Broadcasting Companies Other Consolidated Revenue (less agency commissions) $ 2,548 $ 56 $ - $ 2,604 Operating expenses before depreciation, amortization and loss on disposal of assets, net: 1,595 56 80 1,731 Depreciation and amortization 240 10 2 252 Loss on disposal of assets, net (6 ) - - (6 ) Operating expenses 1,829 66 82 1,977 Operating income (loss) $ 719 $ (10 ) $ (82 ) $ 627 Interest expense $ - $ - $ 254 $ 254 Capital expenditures (excluding business combinations) $ 114 $ 181 $ 3 $ 298 Goodwill $ 2,612 $ 45 $ - $ 2,657 Total assets $ 10,565 $ 358 $ 260 $ 11,183 For the nine months ended September 30, 2021: Revenue (less agency commissions) $ 1,648 $ 44 $ - $ 1,692 Operating expenses before depreciation, amortization and (gain) loss on disposal of assets, net: 1,099 39 75 1,213 Depreciation and amortization 146 9 2 157 (Gain) loss on disposal of assets, net 46 - - 46 Operating expenses 1,291 48 77 1,416 Operating income (loss) $ 357 $ (4 ) $ (77 ) $ 276 Interest expense $ - $ - $ 143 $ 143 Capital expenditures (excluding business combinations) $ 63 $ 88 $ 3 $ 154 As of December 31, 2021: Goodwill $ 2,604 $ 45 $ - $ 2,649 Total assets $ 10,592 $ 269 $ 247 $ 11,108

Note 1 - Basis of Presentatio_2

Note 1 - Basis of Presentation (Details Textual)	9 Months Ended
	Sep. 30, 2022
Number of Operating Segments	2
Number of Television Markets with Top-Rated Stations	80
Number of Television Markets with First and/or Second Rated Stations	100

Note 1 - Basis of Presentatio_3

Note 1 - Basis of Presentation - Reconciliation of Basic to Diluted Weighted-average Shares Outstanding (Details) - shares shares in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Weighted-average shares outstanding-basic (in shares)	91	95	93	94
Common stock equivalents for stock options and restricted stock (in shares)	1	0	0	1
Weighted-average shares outstanding-diluted (in shares)	92	95	93	95

Note 1 - Basis of Presentatio_4

Note 1 - Basis of Presentation - Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Accumulated balances of items included in accumulated other comprehensive loss:
Increase in pension liability	$ (36)	$ (36)
Income tax benefit	(9)	(9)
Accumulated other comprehensive loss	$ (27)	$ (27)

Note 1 - Basis of Presentatio_5

Note 1 - Basis of Presentation - Property and Equipment (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2022	Dec. 31, 2021
Property and equipment, gross	$ 2,043	$ 1,754
Accumulated depreciation	(677)	(589)
Total property and equipment, net	1,366	1,165
Land [Member]
Property and equipment, gross	287	277
Building and Building Improvements [Member]
Property and equipment, gross	$ 466	453
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	$ 991	961
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	$ 299	$ 63

Note 1 - Basis of Presentatio_6

Note 1 - Basis of Presentation - Disposal of Assets and Purchase of Property and Equipment (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Proceeds from sale of assets	$ 0	$ 0	$ 2	$ 3
Proceeds from FCC - Repack	2	4	7	10
Net book value of assets disposed	(1)	(2)	(3)	(6)
Non-cash loss on divestitures	0	(53)	0	(53)
Loss on disposal of assets, net	1	(51)	6	(46)
Recurring purchases - operations			118	57
Assembly Atlanta project			179	91
Repack			1	6
Total			$ 298	$ 154

Note 1 - Basis of Presentatio_7

Note 1 - Basis of Presentation - Allowance for Credit Losses (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Beginning balance	$ 16	$ 10
Provision for credit losses	(3)	2
Amounts written off	(1)	(1)
Ending balance	$ 12	$ 11

Note 2 - Revenue (Details Textu

Note 2 - Revenue (Details Textual) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2022	Dec. 31, 2021
Contract with Customer, Liability, Revenue Recognized	$ 13
Deferred Revenue [Member]
Deposit Liability, Current	$ 51	$ 13

Note 2 - Revenue - Disaggregati

Note 2 - Revenue - Disaggregation of Revenue (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Revenue	$ 909	$ 601	$ 2,604	$ 1,692
Sales Channel, Directly to Consumer [Member]
Revenue	528	402	1,616	1,117
Sales Channel, Through Intermediary [Member]
Revenue	381	199	988	575
Core Advertising [Member]
Revenue	359	292	1,090	831
Political Advertising [Member]
Revenue	144	9	260	24
Advertising [Member]
Revenue	503	301	1,350	855
Retransmission Consent [Member]
Revenue	368	266	1,143	755
Production Companies [Member]
Revenue	20	20	56	44
Service, Other [Member]
Revenue	$ 18	$ 14	$ 55	$ 38

Note 3 - Acquisition (Details T

Note 3 - Acquisition (Details Textual) - Atlanta Telemundo Transaction [Member] $ in Millions	Apr. 01, 2022 USD ($)
Payments to Acquire Businesses, Gross	$ 31
Minimum [Member]
Property, Plant and Equipment, Useful Life (Year)	3 years
Finite-Lived Intangible Asset, Useful Life (Year)	1 year
Maximum [Member]
Property, Plant and Equipment, Useful Life (Year)	40 years
Finite-Lived Intangible Asset, Useful Life (Year)	4 years

Note 3 - Acquisition - Prelimin

Note 3 - Acquisition - Preliminary Values of Assets Acquired and Goodwill (Details) - USD ($) $ in Millions	Apr. 01, 2022	Sep. 30, 2022	Dec. 31, 2021
Goodwill		$ 2,657	$ 2,649
Atlanta Telemundo Transaction [Member]
Accounts receivable, net	$ 1
Property and equipment	1
Goodwill	10
Payments to Acquire Businesses, Gross	31
Atlanta Telemundo Transaction [Member] | Broadcast Licenses [Member]
Intangible assets	1
Atlanta Telemundo Transaction [Member] | Network Affiliation [Member]
Intangible assets	14
Atlanta Telemundo Transaction [Member] | Other Intangible Assets [Member]
Intangible assets	$ 4

Note 4 - Long-term Debt (Detail

Note 4 - Long-term Debt (Details Textual) - USD ($) $ in Thousands		9 Months Ended
	Nov. 01, 2022	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Interest Paid, Excluding Capitalized Interest, Operating Activities		$ 212,000	$ 121,000
Interest Costs Capitalized		$ 4,000	$ 0
2026 Notes [Member]
Debt Instrument, Interest Rate, Stated Percentage		5.875%		5.875%
2027 Notes [Member]
Debt Instrument, Interest Rate, Stated Percentage		7%		7%
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 2017 Senior Credit Facility [Member] | The 2017 Term Loan [Member]
Debt Instrument, Interest Rate, Effective Percentage		5.20%
Repayments of Debt		$ 150,000
The 2017 Senior Credit Facility [Member] | The 2017 Term Loan [Member] | Subsequent Event [Member]
Repayments of Debt	$ 100,000
The 2019 Senior Credit Facility [Member] | The 2019 Term Loan [Member]
Debt Instrument, Interest Rate, Effective Percentage		5.10%
The 2021 Senior Credit Facility [Member] | The 2021 Term Loan [Member]
Debt Instrument, Interest Rate, Effective Percentage		5.60%
Repayments of Debt		$ 11,000

Note 4 - Long-term Debt - Long-

Note 4 - Long-term Debt - Long-term Debt Summary (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Long-term debt, gross	$ 6,674	$ 6,835
Less current portion	(15)	(15)
Net carrying value	6,590	6,740
Borrowing availability under Revolving Credit Facility	496	497
The 2017 Term Loan [Member]
Long-term debt, gross	445	595
Unamortized deferred loan costs	(5)	(7)
The 2019 Term Loan [Member]
Long-term debt, gross	1,190	1,190
Unamortized deferred loan costs	(22)	(27)
The 2021 Term Loan [Member]
Long-term debt, gross	1,489	1,500
Unamortized deferred loan costs	(5)	(5)
2026 Notes [Member]
Long-term debt, gross	700	700
Unamortized deferred loan costs	(4)	(5)
Unamortized premium	2	3
2027 Notes [Member]
Long-term debt, gross	750	750
Unamortized deferred loan costs	(7)	(8)
2030 Notes [Member]
Long-term debt, gross	800	800
Unamortized deferred loan costs	(11)	(13)
Notes 2031 [Member]
Long-term debt, gross	1,300	1,300
Unamortized deferred loan costs	$ (17)	$ (18)

Note 4 - Long-term Debt - Aggre

Note 4 - Long-term Debt - Aggregate Minimum Principal Maturities on Long-term Debt (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Remainder of 2022	$ 4
2023	15
2024	460
2025	15
2026	1,905
2027	765
Thereafter	3,510
Total Debt	6,674	$ 6,835
The 2019 Senior Credit Facility [Member]
Remainder of 2022	4
2023	15
2024	460
2025	15
2026	1,205
2027	15
Thereafter	1,410
Total Debt	3,124
2026 Notes [Member]
Remainder of 2022	0
2023	0
2024	0
2025	0
2026	700
2027	0
Thereafter	0
Total Debt	700	700
2027 Notes [Member]
Remainder of 2022	0
2023	0
2024	0
2025	0
2026	0
2027	750
Thereafter	0
Total Debt	750	750
2030 Notes [Member]
Remainder of 2022	0
2023	0
2024	0
2025	0
2026	0
2027	0
Thereafter	800
Total Debt	800	800
Notes 2031 [Member]
Remainder of 2022	0
2023	0
2024	0
2025	0
2026	0
2027	0
Thereafter	1,300
Total Debt	$ 1,300	$ 1,300

Note 5 - Fair Value Measureme_2

Note 5 - Fair Value Measurement (Details Textual) - USD ($) $ in Billions	Sep. 30, 2022	Dec. 31, 2021
Long-Term Debt, Total	$ 6.6	$ 6.8
Long-Term Debt, Fair Value	$ 6	$ 6.9

Note 6 - Stockholders' Equity (

Note 6 - Stockholders' Equity (Details Textual) $ / shares in Units, $ in Millions	3 Months Ended						9 Months Ended
	Sep. 30, 2022 USD ($) $ / shares shares	Jun. 30, 2022 USD ($)	Mar. 31, 2022 USD ($)	Sep. 30, 2021 USD ($) $ / shares	Jun. 30, 2021 USD ($)	Mar. 31, 2021 USD ($)	Sep. 30, 2022 USD ($) $ / shares shares	Sep. 30, 2021 USD ($) $ / shares	Dec. 31, 2021 shares
Capital Units, Authorized (in shares)	245,000,000						245,000,000
Common Stock, Shares Authorized (in shares)	200,000,000						200,000,000
Preferred Stock, Shares Authorized (in shares)	20,000,000						20,000,000
Common Stock, Voting Rights, Votes Per Share	1						1
Common Stock, Dividends, Per Share, Declared (in dollars per share) | $ / shares	$ 0.08			$ 0.08			$ 0.24	$ 0.24
Dividends, Common Stock, Total | $	$ 7	$ 8	$ 8	$ 8	$ 7	$ 8	$ 23	$ 23
Common Stock, Capital Shares Reserved for Future Issuance (in shares)	7,200,000						7,200,000
Treasury Stock, Value, Acquired, Cost Method | $		$ 50
Class A Common Stock (No Par Value) [Member]
Common Stock, Shares Authorized (in shares)	25,000,000						25,000,000		25,000,000
Common Stock, Voting Rights, Votes Per Share	10						10
Common Stock, Capital Shares Reserved for Future Issuance (in shares)	2,800,000						2,800,000
Common Stock and Class A Common Stock [Member]
Stock Repurchased During Period, Shares (in shares)							2,600,000
Treasury Stock, Value, Acquired, Cost Method | $							$ 50
Stock Repurchase Program, Authorized Amount | $	$ 124						$ 124

Note 7 - Retirement Plans (Deta

Note 7 - Retirement Plans (Details Textual) - USD ($) $ in Millions	9 Months Ended	12 Months Ended
	Sep. 30, 2022	Dec. 31, 2021
Defined Contribution Plan, Expected Contributions, Remainder of Fiscal Year	$ 3
Profit Sharing Contribution [Member]
Defined Contribution Plan, Employer Discretionary Contribution Amount	13	$ 7
Pension Plan [Member] | Gray Pension Plan [Member]
Defined Benefit Plan, Expected Future Employer Contributions, Next Fiscal Year	$ 4

Note 8 - Stock-based Compensa_3

Note 8 - Stock-based Compensation - Stock-based Compensation Expense and Related Income Tax Benefit (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Stock-based compensation expense, gross	$ 6	$ 3	$ 17	$ 10
Income tax benefit at our statutory rate associated with share-based compensation	(2)	(1)	(4)	(3)
Stock-based compensation expense, net	$ 4	$ 2	$ 13	$ 7

Note 8 - Stock-based Compensa_4

Note 8 - Stock-based Compensation - Summary of Restricted Common Stock Activity (Details) - $ / shares		9 Months Ended
		Sep. 30, 2022	Sep. 30, 2021
Restricted Stock [Member]
Outstanding, Shares (in shares)	[1]	1,035,728	917,533
Outstanding, Weighted average grant date fair value (in dollars per share)		$ 19.69	$ 16.84
Granted, Shares (in shares)	[1]	400,927	343,402
Granted, Weighted average grant date fair value (in dollars per share)		$ 21.68	$ 18.73
Vested, Shares (in shares)		(341,918)	(613,179)
Vested, Weighted average grant date fair value (in dollars per share)		$ 19.03	$ 15.48
Outstanding, Shares (in shares)	[1]	1,094,737	647,756
Outstanding, Weighted average grant date fair value (in dollars per share)		$ 20.62	$ 19.13
Restricted Stock [Member] | Common Class A [Member]
Outstanding, Shares (in shares)	[1]	720,421	480,042
Outstanding, Weighted average grant date fair value (in dollars per share)		$ 18.22	$ 16.10
Granted, Shares (in shares)	[1]	250,448	233,425
Granted, Weighted average grant date fair value (in dollars per share)		$ 20.52	$ 17.67
Vested, Shares (in shares)		(229,758)	(248,539)
Vested, Weighted average grant date fair value (in dollars per share)		$ 16.99	$ 15
Outstanding, Shares (in shares)	[1]	741,111	464,928
Outstanding, Weighted average grant date fair value (in dollars per share)		$ 19.38	$ 17.47
Restricted Stock Units (RSUs) [Member]
Outstanding, Shares (in shares)		125,247	90,184
Outstanding, Weighted average grant date fair value (in dollars per share)		$ 19.02	$ 18.92
Granted, Shares (in shares)		259,079	95,115
Granted, Weighted average grant date fair value (in dollars per share)		$ 23.87	$ 19.05
Vested, Shares (in shares)		(108,921)	(60,052)
Vested, Weighted average grant date fair value (in dollars per share)		$ 19.03	$ 18.92
Forfeited, Shares (in shares)		(1,260)	0
Forfeited, Weighted average grant date fair value (in dollars per share)		$ 19.05	$ 0
Outstanding, Shares (in shares)		274,145	125,247
Outstanding, Weighted average grant date fair value (in dollars per share)		$ 23.60	$ 19.02
[1]For awards subject to future performance conditions, amounts assume target performance.

Note 9 - Leases (Details Textua

Note 9 - Leases (Details Textual)	Sep. 30, 2022
Operating Lease, Weighted Average Remaining Lease Term (Year)	10 years
Operating Lease, Weighted Average Discount Rate, Percent	6.63%
Minimum [Member]
Lessee, Operating Lease, Remaining Lease Term (Year)	1 year
Maximum [Member]
Lessee, Operating Lease, Remaining Lease Term (Year)	99 years

Note 9 - Leases - Lease Expense

Note 9 - Leases - Lease Expense (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Operating lease expense	$ 4	$ 3	$ 13	$ 9
Short-term lease expense	1	1	2	2
Total lease expense	$ 5	$ 4	$ 15	$ 11

Note 9 - Leases - Maturities of

Note 9 - Leases - Maturities of Operating Lease Liabilities (Details) $ in Millions	Sep. 30, 2022 USD ($)
Remainder of 2022	$ 4
2023	13
2024	13
2025	12
2026	10
Thereafter	51
Total lease payments	103
Less: Imputed interest	(28)
Present value of lease liabilities	$ 75

Note 10 - Commitments and Con_2

Note 10 - Commitments and Contingencies (Details Textual) - Forecast [Member] - USD ($) $ in Millions	3 Months Ended		9 Months Ended	12 Months Ended
	Sep. 30, 2023	Dec. 31, 2022	Sep. 30, 2023	Dec. 31, 2023	Dec. 31, 2022
Expected Capital Expenditures To Be Incurred, Net				$ 73	$ 201
Expected Incentive Payments to be Received		$ 43	$ 59
Additional Expected Incentive Payments to be Received	$ 20

Note 11 - Goodwill and Intang_3

Note 11 - Goodwill and Intangible Assets (Details Textual) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Amortization of Intangible Assets	$ 156	$ 81
Finite-Lived Intangible Asset, Expected Amortization, Remainder of Fiscal Year	51
Finite-Lived Intangible Asset, Expected Amortization, Year One	197
Finite-Lived Intangible Asset, Expected Amortization, Year Two	132
Finite-Lived Intangible Asset, Expected Amortization, Year Three	121
Finite-Lived Intangible Asset, Expected Amortization, Year Four	91
Finite-Lived Intangible Asset, Expected Amortization, Year Five	$ 49

Note 11 - Goodwill and Intang_4

Note 11 - Goodwill and Intangible Assets - Changes in Goodwill and Other Intangible Assets, Net (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Broadcast licenses	$ 5,326		$ 5,303
Goodwill, net	2,657		2,649
Goodwill, acquisitions and adjustments	8
Finite-lived intangible assets	687		825
Amortization	(156)	$ (81)
Total intangible assets net of accumulated amortization	8,670		$ 8,777
Total intangible assets net of accumulated amortization	49
Broadcast Licenses [Member]
Acquisition and adjustments	23
Finite-Lived Intangible Assets [Member]
Acquisition and adjustments	18
Amortization	$ (156)

Note 11 - Goodwill and Intang_5

Note 11 - Goodwill and Intangible Assets - Changes in Gross Goodwill (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2022	Dec. 31, 2021
Goodwill, gross	$ 2,756	$ 2,748
Goodwill, acquisitions and adjustments	8
Accumulated goodwill impairment	(99)	(99)
Goodwill	2,657	$ 2,649
Goodwill, acquisitions and adjustments	$ 8

Note 11 - Goodwill and Intang_6

Note 11 - Goodwill and Intangible Assets - Intangible Assets and Related Accumulated Amortization (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Goodwill, gross	$ 2,756	$ 2,748
Goodwill	2,657	2,649
Other intangible assets, net	687	825
Total intangible assets, gross	9,310	9,260
Total intangible assets, accumulated amortization	(640)	(483)
Total intangible assets, net	8,670	8,777
Network Affiliate [Member]
Finite-Lived Intangible Assets, Gross	218	204
Finite-Lived Intangible Assets, Accumulated Amortization	(77)	(44)
Other intangible assets, net	141	160
Other Definite Lived Intangible Assets [Member]
Finite-Lived Intangible Assets, Gross	1,055	1,051
Finite-Lived Intangible Assets, Accumulated Amortization	(509)	(386)
Other intangible assets, net	546	665
Intangible Assets Subject to Amortization [Member]
Finite-Lived Intangible Assets, Gross	1,273	1,255
Finite-Lived Intangible Assets, Accumulated Amortization	(586)	(430)
Other intangible assets, net	687	825
Broadcast Licenses [Member]
Indefinite-lived Intangible Assets (Excluding Goodwill), Gross	5,380	5,356
Indefinite-Lived Intangible Assets (Excluding Goodwill), Accumulated Amortization	(54)	(53)
Indefinite-Lived Intangible Assets (Excluding Goodwill)	5,326	5,303
Goodwill Not Amortizable [Member]
Goodwill, gross	2,657	2,649
Goodwill, Accumulated Amortization	0	0
Goodwill	2,657	2,649
Intangible Assets Not Subject to Amortization [Member]
Goodwill and Indefinite-Lived Intangible Assets, Gross	8,037	8,005
Goodwill and Indefinite-lived Intangible Assets, Accumulated Amortization	(54)	(53)
Goodwill and Indefinite-Lived Assets, Net	$ 7,983	$ 7,952

Note 12 - Income Taxes (Details

Note 12 - Income Taxes (Details Textual) - USD ($) $ in Millions	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2020
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent			21%
Effective Income Tax Rate Reconciliation, Percent, Total	28%	194%	27%	52%
Effective Income Tax Rate Reconciliation, State and Local Income Taxes, Percent			5%	5%
Effective Income Tax Rate Reconciliation, Nondeductible Expense, Percent, Total			1%	3%
Effective Income Tax Rate Reconciliation, Disposition of Asset, Percent				23%
Income Taxes Paid, Net, Total			$ 128
Proceeds from Income Tax Refunds					$ 21
State and Local Jurisdiction [Member]
Operating Loss Carryforwards	$ 337		337
Minimum [Member]
Income Taxes Paid, Net, Total			58
Maximum [Member]
Income Taxes Paid, Net, Total			$ 68

Note 12 - Income Taxes - Reconc

Note 12 - Income Taxes - Reconciliation of Income Tax Expense (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Income tax expense	$ 42	$ 35	$ 101	$ 65
Effective income tax rate	28%	194%	27%	52%

Note 13 - Segment Information_2

Note 13 - Segment Information (Details Textual)	9 Months Ended
	Sep. 30, 2022
Number of Operating Segments	2

Note 13 - Segment Information -

Note 13 - Segment Information - Segment Information (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Revenue (less agency commissions)	$ 909	$ 601	$ 2,604	$ 1,692
Operating expenses before depreciation, amortization and loss on disposal of assets, net:			1,731	1,213
Depreciation and amortization			252	157
Loss on disposal of assets, net	1	(51)	6	(46)
Operating expenses	664	534	1,977	1,416
Operating income (loss)	245	67	627	276
Interest expense	94	48	254	143
Capital expenditures (excluding business combinations)			298	154
Goodwill, net	2,657		2,657		$ 2,649
Total assets	11,183		11,183		11,108
(Gain) loss on disposal of assets, net	(1)	51	(6)	46
Broadcasting, Segment [Member]
Revenue (less agency commissions)	889	581	2,548	1,648
Operating expenses before depreciation, amortization and loss on disposal of assets, net:			1,595	1,099
Depreciation and amortization			240	146
Loss on disposal of assets, net			6	(46)
Operating expenses			1,829	1,291
Operating income (loss)			719	357
Interest expense			0	0
Capital expenditures (excluding business combinations)			114	63
Goodwill, net	2,612		2,612		2,604
Total assets	10,565		10,565		10,592
(Gain) loss on disposal of assets, net			(6)	46
Production Companies, Segment [Member]
Revenue (less agency commissions)	20	$ 20	56	44
Operating expenses before depreciation, amortization and loss on disposal of assets, net:			56	39
Depreciation and amortization			10	9
Loss on disposal of assets, net			0	0
Operating expenses			66	48
Operating income (loss)			(10)	(4)
Interest expense			0	0
Capital expenditures (excluding business combinations)			181	88
Goodwill, net	45		45		45
Total assets	358		358		269
(Gain) loss on disposal of assets, net			0	0
Other Segments [Member]
Revenue (less agency commissions)			0	0
Operating expenses before depreciation, amortization and loss on disposal of assets, net:			80	75
Depreciation and amortization			2	2
Loss on disposal of assets, net			0	0
Operating expenses			82	77
Operating income (loss)			(82)	(77)
Interest expense			254	143
Capital expenditures (excluding business combinations)			3	3
Goodwill, net	0		0		0
Total assets	$ 260		260		$ 247
(Gain) loss on disposal of assets, net			$ 0	$ 0