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Stock Incentive Plan (Tables)
 12 Months Ended
Dec. 31, 2020
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Schedule of Stock-Based Compensation Expense Recognized
The following table reflects the components of stock-based compensation expense recognized in the Consolidated Statements of Operations for the years ended December 31, 2020 and 2019:
   
Year Ended December 31,
 
         2019         
      2020      
 
   
(Dollars in thousands)
 
Stock option compensation expense included in unallocated corporate expenses
  $271   
$
152
 
Restricted stock shares compensation expense included in unallocated corporate expenses
   623   
 
—  
 
Stock option compensation expense included in broadcast operating expenses
   111   
 
136
 
Restricted stock shares compensation expense included in broadcast operating expenses
   383   
 
—  
 
Stock option compensation expense included in digital media operating expenses
   71   
 
56
 
Stock option compensation expense included in publishing operating expenses
   1   
 
1
 
  
 
 
   
 
 
 
Total stock-based compensation expense,
pre-tax
  $1,460   
$
345
 
Tax expense from stock-based compensation expense
   (380)   
 
(90
) 
  
 
 
   
 
 
 
Total stock-based compensation expense, net of tax
  $1,080   
$
255
 
  
 
 
   
 
 
 
Schedule of Weighted-Average Assumptions Used to Estimate Fair Value of Stock Options and Restricted Stock Awards using Black-Scholes Option Valuation Model
The weighted-average assumptions used to estimate the fair value of the stock options using the Black-Scholes valuation model were as follows for the years ended December 31, 2020 and 2019:
 
   Year Ended
December 31, 2019		  
Year Ended
December 31, 2020
 
Expected volatility
   56.12%   53.96% 
Expected dividends
   16.27%   7.30% 
Expected term (in years)
   6.7   7.6 
Risk-free interest rate
   1.69%   1.14% 
Schedule of Stock Option Activity
Activity with respect to the company’s option awards during the two years ended December 31, 2020 is as follows (Dollars in thousands, except weighted average exercise price and weighted average grant date fair value):
 
Options
  Shares  Weighted
Average
Exercise Price		   Weighted
Average
Grant Date
Fair Value		   Weighted
Average
Remaining
Contractual Term		   Aggregate
Intrinsic Value		 
Outstanding at January 1, 2019
   1,980,972  $4.63   $2.61    4.1 years   $—   
Granted
   88,750   1.63    0.44      —   
Exercised
   (200)   2.38    2.05      —   
Forfeited or expired
   (208,800)   5.77    4.06      2 
  
 
 
        
Outstanding at December 31, 2019
   1,860,722  $4.39   $2.37    3.6 years   $—   
  
 
 
        
Exercisable at December 31, 2019
   1,248,844   4.93    2.78    2.3 years    —   
  
 
 
        
Expected to Vest
   580,978  $4.40   $2.38    3.5 years   $—   
Outstanding at January 1, 2020
  
 
1,860,722
 
 
$
4.39
 
  
$
2.37
 
  
 
3.6 years
 
  
$
—  
 
Granted
  
 
743,000
 
 
 
1.37
 
  
 
0.35
 
    
 
—  
 
Exercised
  
 
—  
 
 
 
—  
 
  
 
—  
 
    
 
—  
 
Forfeited or expired
  
 
(312,702
) 
 
 
5.71
 
  
 
3.80
 
    
 
—  
 
  
 
 
        
Outstanding at December 31, 2020
  
 
2,291,020
 
 
 
3.23
 
  
 
1.52
 
  
 
4.3 years
 
  
$
—  
 
  
 
 
        
Exercisable at December 31, 2020
  
 
1,229,770
 
 
 
4.37
 
  
 
2.22
 
  
 
2.4 years
 
  
 
—  
 
  
 
 
        
Expected to Vest
  
 
1,007,657
 
 
 
3.26
 
  
 
1.54
 
  
 
4.2 years
 
  
$
—  
 
Schedule of Information Regarding Restricted Stock Activity
Activity with respect to the company’s restricted stock awards during the year ended December 31, 2020 is as follows:
 
Restricted Stock Awards
 Shares  Weighted
Average
Grant Date
Fair Value		  Weighted
Average
Remaining
Contractual
Term		  Aggregate
Intrinsic
Value		 
Non-Vested
at January 1, 2020
  107,990  $1.85   1.67 years  $156 
Granted
  —     —     —     —   
Lapse of restrictions
  —     —     —     —   
Forfeited or expired
  —     —     —     —   
 
 
 
    
Outstanding at December 31, 2020
  107,990  $1.85   0.7 years  $112 
 
 
 
    
Stock Options Outstanding Additional Information
Additional information regarding options outstanding as of December 31, 2020, is as follows:
 
Range of
Exercise Prices
  Options  Weighted Average
Contractual Life
Remaining
(Years)		  Weighted
Average
Exercise Price		  Exercisable
Options		   Weighted
Average
Exercise Price		 
$
1.00 - $3.00
   1,047,353   5.5  $1.68   276,853   $2.48 
$
3.01 - $3.28
   533,000   4.8   3.25   274,000    3.25 
$
3.29 - $4.63
   63,500   4.7   3.77   31,750    3.77 
$
4.64 - $4.85
   398,542   2.7   4.85   398,542    4.85 
$
4.86 - $6.65
   1,000   1.0   6.38   1,000    6.38 
$
6.66 - $8.76
   247,625   0.6   7.00   247,625    7.00 
 
 
 
    
 
 
   
 
 
2,291,020
 
 
 
4.3
 
 
$
3.23
 
 
 
1,229,770
 
  
$
4.37