
For the three months ended March 31, 2026	Local Media		Tennis		Other & Corporate		Eliminations			Consolidated
Revenue	$	701	$	70	$	46	$	(10)	(b)	$	807
Media programming and production expenses	382		30		—		—			412
Media selling, general and administrative expenses	171		19		34		(10)			214
Depreciation of property and equipment and amortization of definite-lived intangibles and other assets	60		5		—		—			65
Amortization of program costs	18		—		—		—			18
Corporate general and administrative expenses	34		1		14		—			49

(Gain) loss on asset dispositions and other, net	(1)		—		8		—			7

Other segment items (a)	2		—		13		—			15
Operating income (loss)	$	35	$	15	$	(23)	$	—		$	27

Interest expense including amortization of debt discount and deferred financing costs	$	85	$	—	$	—	$	—		$	85
Loss from equity method investments	—		—		(1)		—			(1)

Other income (expense), net	4		—		(82)		—			(78)
Loss before income taxes										$	(137)


For the three months ended March 31, 2025	Local Media		Tennis		Other & Corporate		Eliminations			Consolidated
Revenue	$	694	$	68	$	21	$	(7)	(b)	$	776
Media programming and production expenses	390		27		1		—			418
Media selling, general and administrative expenses	170		18		11		(7)			192
Depreciation of property and equipment and amortization of definite-lived intangibles and other assets	56		5		1		—			62
Amortization of program costs	19		—		—		—			19
Corporate general and administrative expenses	37		—		15		—			52

Loss on asset dispositions and other, net	8		—		—		—			8

Other segment items (a)	2		—		9		—			11
Operating income (loss)	$	12	$	18	$	(16)	$	—		$	14

Interest expense including amortization of debt discount and deferred financing costs	$	144	$	—	$	—	$	—		$	144
Loss from equity method investments	—		(1)		(5)		—			(6)
Gain on extinguishment of debt	2		—		—		—			2
Other income (expense), net	3		—		(69)		—			(66)
Loss before income taxes										$	(200)

(b)Includes $8 million and $4 million for the three months ended March 31, 2026 and 2025, respectively, of revenue for services provided by other to local media, which is eliminated in consolidation.