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Note 10 - Goodwill and Intangible Assets

6 Months Ended

Jun. 30, 2024

Notes to Financial Statements

Goodwill and Intangible Assets Disclosure [Text Block]

10.

Goodwill and Intangible Assets

A summary of changes in our goodwill and other intangible assets, on a net basis, for the six-months ended June 30, 2024 is as follows (in millions):

		As of June 30, 2024												As of December 31, 2023
						Accumulated												Accumulated
		Gross				Amortization				Net				Gross				Amortization				Net
Intangible assets not currently subject to amortization:
Broadcast licenses		$	5,374			$	(54	)		$	5,320			$	5,374			$	(54	)		$	5,320
Goodwill			2,643				-				2,643				2,643				-				2,643
		$	8,017			$	(54	)		$	7,963			$	8,017			$	(54	)		$	7,963

Intangible assets subject to amortization:
Network affiliation agreements		$	216			$	(143	)		$	73			$	216			$	(126	)		$	90
Other finite lived intangible assets			992				(713	)			279				992				(667	)			325
		$	1,208			$	(856	)		$	352			$	1,208			$	(793	)		$	415

Total intangibles		$	9,225			$	(910	)		$	8,315			$	9,225			$	(847	)		$	8,378

Amortization expense for the six-months ended June 30, 2024 and 2023 was $63 million and $99 million, respectively. Based on the current amount of intangible assets subject to amortization, we expect that amortization expense for the remainder of 2024 will be approximately $62 million, and, for the succeeding five years, amortization expense will be approximately as follows: 2025, $113 million; 2026, $83 million; 2027, $47 million; 2028, $13 million; and 2029, $3 million. If and when acquisitions and dispositions occur in the future, actual amounts may vary materially from these estimates.