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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($)
$ in Millions
 9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
Cash flows from operating activities:    
Net income $ 523 $ 253
Adjustments to reconcile net income to net cash provided by operating activities:    
Amortization of broadcast rights 246 239
Depreciation and amortization of intangible assets 434 353
Stock-based compensation expense 80 58
Amortization of debt financing costs, debt discounts and premium 8 6
Loss on extinguishment of debt 21 5
Deferred income taxes (56) (20)
Payments for broadcast rights (246) (249)
Income from equity method investments, net (7) (24)
Distribution from equity method investments - return on capital 100 131
Changes in operating assets and liabilities, net of acquisitions:    
Accounts receivable 128 15
Prepaid and other current assets 26 6
Other noncurrent assets 8 3
Accounts payable (12) (30)
Accrued expenses and other current liabilities 89 44
Income tax payable (14) (45)
Other noncurrent liabilities (62) (50)
Other 1 6
Net cash provided by operating activities 1,267 701
Cash flows from investing activities:    
Purchases of property and equipment (113) (94)
Payments for acquisitions, net of cash acquired (3,341) (22)
Proceeds received from life insurance policies 55 1
Proceeds from disposal of property and equipment 12 1
Other investing activities, net (5) (4)
Net cash used in investing activities (3,392) (118)
Cash flows from financing activities:    
Proceeds from debt issuance, net of debt discounts 11,106 3,393
Repayments of long-term debt (8,498) (3,568)
Payments for debt financing costs (107) (2)
Premium paid on debt extinguishment (13)  
Purchase of treasury stock   (125)
Common stock dividends paid (171) (169)
Payments for capitalized software obligations (7) (14)
Cash paid for shares withheld for taxes (18)  
Other financing activities, net (1) (6)
Net cash provided by (used in) financing activities 2,291 (491)
Net increase in cash and cash equivalents 166 92
Cash and cash equivalents at beginning of period 280 144
Cash and cash equivalents at end of period 446 236
Supplemental information:    
Interest paid 448 294
Income taxes paid, net of refunds 219 175
Non-cash investing and financing activities:    
Purchases of property and equipment in accounts payable and accruals 4 9
Capitalized software in other current and noncurrent liabilities 0 24
Right-of-use assets obtained in exchange for operating lease obligations $ 24 $ 42