Intangible Assets and Goodwill

9 Months Ended

Sep. 30, 2026

Intangible Asset, Goodwill and Other [Abstract]

Note 4: Intangible Assets and Goodwill

The Company’s goodwill by segment, indefinite-lived intangible assets and definite-lived intangible assets consisted of the following ($ in millions):


	Reportable Segments					Other
Goodwill	Broadcast			TEGNA		Segments			Total
Gross balances as of December 31, 2025	$	2,922		$	-	$	225		$	3,147
Accumulated Impairment		(43	)		-		(194	)		(237	)
Net balances as of December 31, 2025		2,879			-		31			2,910
Current year acquisition (Note 3)		-			2,124		-			2,124
Net balances as of September 30, 2026	$	2,879		$	2,124	$	31		$	5,034

Gross balances as of September 30, 2026	$	2,922		$	2,124	$	225		$	5,271
Accumulated Impairment		(43	)		-		(194	)		(237	)
Net balances as of September 30, 2026	$	2,879		$	2,124	$	31		$	5,034


	FCC Licenses
			Accumulated
Indefinite-lived Intangible Assets	Gross		Impairment			Net
Balances as of December 31, 2025	$	2,997	$	(48	)	$	2,949
Current year acquisition (Note 3)		2,163		-			2,163
Balances as of September 30, 2026	$	5,160	$	(48	)	$	5,112


	Network Affiliation Agreements							Other Definite-Lived Intangible Assets							Total
			Accumulated							Accumulated							Accumulated
			Amortization							Amortization							Amortization
Definite-Lived Intangible Assets	Gross		and Impairment			Net		Gross		and Impairment			Net		Gross		and Impairment			Net
Balances as of December 31, 2025	$	3,125	$	(1,820	)	$	1,305	$	1,157	$	(875	)	$	282	$	4,282	$	(2,695	)	$	1,587
Balances as of September 30, 2026	$	4,493	$	(2,010	)	$	2,483	$	1,251	$	(961	)	$	290	$	5,744	$	(2,971	)	$	2,773

The increases in network affiliation agreements and other definite-lived intangible assets are primarily attributable to the acquisition of TEGNA as discussed in Note 3 above.

The following table presents the Company’s estimate of amortization expense for the remainder of 2026, each of the five succeeding years ended December 31 and thereafter for definite-lived intangible assets as of September 30, 2026 (in millions):


Remainder of 2026	$	96
2027		376
2028		350
2029		327
2030		281
2031		271
Thereafter		1,072
	$	2,773

Indefinite-lived intangible assets are not subject to amortization but are tested for impairment annually or whenever events or changes in circumstances indicate that such assets might be impaired. During the three and nine months ended September 30, 2026, the Company did not identify events that would trigger impairment assessments.