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CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Cash flows from operating activities attributable to continuing operations:    
Net loss $ (25,672) $ (333,940)
Less: Net earnings from discontinued operations 15,313 37,537
Net loss from continuing operations (40,985) (371,477)
Adjustments to reconcile net loss to net cash provided by operating activities attributable to continuing operations:    
Amortization of intangibles 70,452 109,793
Loss related to the allocation of a disputed gain on a real estate transaction 32,600 0
Depreciation 28,922 30,725
Non-cash lease expense (including right-of-use asset impairments) 28,854 29,375
Net loss (gain) on sales of investments and businesses (including unrealized losses on investments) 18,845 (16,530)
Stock-based compensation expense 16,067 58,144
Deferred income taxes (46,891) (88,792)
Net gains on amendments and early terminations of lease agreements (42,193) (232)
Unrealized (gain) loss on investment in MGM Resorts International (648) 361,805
Unrealized increase in the estimated fair value of a warrant 0 (20,393)
Other adjustments, net 9,341 (4,208)
Changes in assets and liabilities, net of effects of dispositions:    
Accounts receivable 70,655 53,535
Other assets (5,172) 65,350
Operating lease liabilities (78,646) (38,576)
Accounts payable and other liabilities (38,821) (53,085)
Income taxes payable and receivable (2,028) 3,607
Deferred revenue 7,105 5,184
Net cash provided by operating activities attributable to continuing operations 27,457 124,225
Cash flows from investing activities attributable to continuing operations:    
Capital expenditures (13,988) (9,757)
Distribution of Angi Inc.'s cash in the spin-off (386,563) 0
Net proceeds from the sales of investments and businesses 9,856 173,556
Proceeds from the sale of a portion of the retirement investment fund 11,948 2,326
Purchase of retirement investment fund 0 (15,253)
Net proceeds from sales of fixed assets 4,255 12,745
Proceeds from maturities of marketable debt securities 0 350,000
Purchases of marketable debt securities 0 (221,788)
Net collections of notes receivable 0 10,083
Other, net 3,331 220
Net cash (used in) provided by investing activities attributable to continuing operations (371,161) 302,132
Cash flows from financing activities attributable to continuing operations:    
Principal payments on the Term Loans (1,430,148) (22,500)
Net proceeds from the Term Loans refinancing 991,451 0
Proceeds from the issuance of the 2032 Notes 400,000 0
Debt issuance and deferred financing costs (12,937) 0
Withholding taxes paid on behalf of employees on net settled stock-based awards (67,128) (14,616)
Purchases of treasury stock (300,000) 0
Other, net (372) (230)
Net cash used in financing activities attributable to continuing operations (419,134) (37,346)
Total cash (used in) provided by continuing operations (762,838) 389,011
Net cash (used in) provided by operating activities attributable to discontinued operations (2,758) 120,200
Net cash used in investing activities attributable to discontinued operations (12,499) (37,541)
Net cash used in financing activities attributable to discontinued operations (14,343) (47,346)
Total cash (used in) provided by discontinued operations (29,600) 35,313
Effect of exchange rate changes on cash and cash equivalents and restricted cash 651 530
Net (decrease) increase in cash and cash equivalents and restricted cash (791,787) 424,854
Cash and cash equivalents and restricted cash at beginning of period 1,807,255 1,306,241
Cash and cash equivalents and restricted cash at end of period $ 1,015,468 $ 1,731,095