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Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2025

Accounting Policies [Abstract]

Schedule of Allowance For Doubtful Accounts

A rollforward of the allowance for doubtful accounts is as follows:

(in thousands)
January 1, 2023						$	4,963
Charged to costs and expenses						14,786
Amounts charged off, net						(14,708)
Balance as of December 31, 2023						5,041
Charged to costs and expenses						15,875
Amounts charged off, net						(13,467)
Balance as of December 31, 2024						7,449
Charged to costs and expenses						6,044
Amounts charged off, net						(7,584)
Balance as of December 31, 2025						$	5,909

Estimated Useful Lives of Property and Equipment

We compute depreciation using the straight-line method over estimated useful lives as follows:

Buildings and improvements			15 to 45 years
Leasehold improvements			Shorter of term of lease or useful life
Broadcast transmission towers and related equipment			15 to 35 years
Other broadcast and program production equipment			3 to 15 years
Computer hardware			3 to 5 years
Office and other equipment			3 to 10 years

Property and equipment consisted of the following:

						As of December 31,
(in thousands)						2025						2024
Land and improvements						$	57,354					$	65,212
Buildings and improvements						258,375						275,844
Equipment						639,906						646,684
Computer software						31,928						33,389
Total						987,563						1,021,129
Accumulated depreciation						(579,597)						(567,229)
Net property and equipment						$	407,966					$	453,900

Schedule of Components of Basic and Diluted Weighted-average Shares

The following table presents information about basic and diluted weighted-average shares outstanding:

						For the years ended December 31,
(in thousands)						2025						2024						2023
Numerator (for basic and diluted earnings per share)
Net income (loss)						$	(100,877)					$	146,218					$	(947,784)
Less income allocated to RSUs						—						(709)						—
Less preferred stock dividends						(63,583)						(58,615)						(50,305)
Numerator for basic and diluted earnings per share						$	(164,460)					$	86,894					$	(998,089)
Denominator
Basic weighted-average shares outstanding						88,024						85,738						84,266
Effect of dilutive securities						—						329						—
Diluted weighted-average shares outstanding						88,024						86,067						84,266

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Tabular disclosure of physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, balances by class of assets, depreciation and depletion expense and method used, including composite depreciation, and accumulated deprecation.

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Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations.

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