v3.26.1
Assets and Liabilities Held for Sale (Tables)
 6 Months Ended
Jun. 30, 2026
Discontinued Operations and Disposal Groups [Abstract]  
Schedule of Assets And Liabilities Held For Sale Of Spectrum Segment
Summarized assets and liabilities held for sale of the Spectrum segment are as follows (in millions):
June 30,
2026		December 31, 2025
Assets
Current assets
Cash and cash equivalents$2.0 $3.8 
Accounts receivable, net1.6 1.7 
Other current assets1.9 1.3 
Total current assets$5.5 $6.8 
Non-current assets
Property, plant and equipment, net$9.7 $10.2 
Goodwill21.4 21.4 
Intangibles, net (1)
118.0 118.0 
Other assets20.4 18.1 
Total non-current assets$169.5 $167.7 
Total assets held for sale$175.0 $174.5 
Liabilities
Current liabilities
Accounts payable$2.9 $0.8 
Accrued liabilities3.4 57.8 
Current portion of debt obligations (2)
106.5 62.8 
Other current liabilities5.9 5.1 
Total current liabilities118.7 126.5 
Non-current liabilities
Deferred tax liability$2.6 $2.6 
Other liabilities19.5 16.8 
Total non-current liabilities$22.1 $19.4 
Total liabilities held for sale$140.8 $145.9 

(1) Intangibles, net, as of June 30, 2026, includes indefinite-lived intangible assets of $108.1 million and channel sharing arrangements with a gross value of $12.6 million and net book value of $9.9 million. Intangibles, net, as of December 31, 2025 includes indefinite-lived intangible assets of $107.9 million and channel sharing arrangements with a gross value of $12.6 million and net book value of $10.1 million.

(2) Debt obligations consisted of the following (in millions):
Maturity DateJune 30,
2026		December 31, 2025
Spectrum
Bridge loan facility (3)
May 29, 2027$105.8 $— 
8.50% Note
September 30, 2026— 19.3 
11.45% Notes
September 30, 2026— 50.4 
Total outstanding principal$105.8 $69.7 
Unamortized premium net of unamortized deferred financing costs0.7 (6.9)
Debt obligations, current$106.5 $62.8 
(3) The contractual maturity date of the debt is May 29, 2027; however, upon consummation of the Spectrum Merger, the debt, including all accrued and capitalized interest thereon, will be extinguished in full.
Schedule of Fair value, Debt Obligation
The fair values of the Spectrum segment's debt obligations were as follows (in millions):
Fair Value Measurement Using:
Carrying ValueEstimated Fair ValueQuoted Prices (Level 1)Significant Other Observable Inputs
(Level 2)		Significant Unobservable Inputs
(Level 3)
June 30, 2026$106.5 $105.8 $— $105.8 $— 
December 31, 2025 (1)
$62.8 $108.3 $— $— $108.3 
(1) The fair value of the Company's Level 3 debt obligations incorporates applicable exit fees and accrued interest, while the carrying value of the debt obligations excludes $25.8 million in exit fees and $27.9 million in accrued interest, respectively, which are reflected in Accrued liabilities in the summarized assets and liabilities held for sale of the Spectrum segment.