v3.26.1
Debt (Tables)
 9 Months Ended
Jun. 30, 2026
Debt Disclosure [Abstract]  
Schedule of Long-term Debt
As of June 30, 2026, our long-term debt consists of the following:
June 30,
2026		September 30,
2025
(in millions)
Revolving Credit Facility (a)$— $— 
Senior Term Loan A Facility due 2031 (b)
1,295 — 
Senior Term Loan B Facility due 2031 (b)
— 1,295 
2.750% Senior Secured Notes due 2028
371 381 
3.750% Senior Secured Notes due 2029
540 540 
3.875% Senior Secured Notes due 2030
535 535 
2.250% Senior Secured Notes due 2031
508 522 
3.000% Senior Secured Notes due 2031
800 800 
Mortgage Term Loan due 203316 17 
Total debt, including the current portion4,065 4,090 
Premium less unamortized discount and unamortized DFCs(21)(27)
Total Acquisition Corp. long-term debt, including the current portion, net$4,044 $4,063 
Beethoven Credit Agreement (c)
370 — 
Tempo Asset-Based Notes due 2050 (d)
311 311 
Unamortized discount and unamortized DFCs(15)(9)
Total other long-term debt, including the current portion, net
$666 $302 
Total long-term debt, including the current portion, net$4,710 $4,365 
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(a)Reflects $350 million of commitments under the Revolving Credit Facility with no letters of credit outstanding at June 30, 2026 and September 30, 2025. There were no loans outstanding under the Revolving Credit Facility as of June 30, 2026 and September 30, 2025.
(b)On March 11, 2026, Acquisition Corp. borrowed all of the Term Loan A Facility to repay all of the outstanding loans under the Term Loan B Facility.
(c)Reflects $750 million of commitments under the Beethoven Credit Agreement. There were $370 million in loans outstanding under the Beethoven Credit Agreement at June 30, 2026. Loans outstanding under the Beethoven Credit Agreement are secured only by certain music rights owned by Beethoven JV 1, LLC, a Delaware limited liability company (“Beethoven”), and are nonrecourse to the Company and its subsidiaries, other than Beethoven.
(d)The Tempo Asset-Based Notes due 2050 are secured only by certain music rights owned by Tempo Music Holdings, LLC (“Tempo Music”) and are nonrecourse to the Company and its subsidiaries, other than Tempo Music.