Note 7 - Commitments and Contingencies

3 Months Ended

Mar. 31, 2015

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies Disclosure [Text Block]

7. Commitments and Contingencies

Acquisition Commitments

As of March 31, 2015, we were party to one acquisition agreement pursuant to which we have committed to pay an aggregate of approximately $17.5 million to complete a pending acquisition of two television stations in the Twin Falls, Idaho, market (the “Twin Falls Acquisition”). On April 23, 2015, we announced that we had entered into an acquisition agreement pursuant to which we have committed to pay approximately $10.25 million to acquire a television station in the Presque Isle, Maine, market (the “Presque Isle Acquisition”). Completion of these acquisitions is subject to various conditions, some of which are outside of our control, including applicable regulatory approvals. No assurances of the timing of such approvals can be provided, although we currently anticipate closing both acquisitions in the third quarter of 2015.

Legal Proceedings and Claims

From time to time, we are or may become subject to legal proceedings and claims that arise in the normal course of our business. In our opinion, the amount of ultimate liability, if any, with respect to known actions, will not materially affect our financial position. However, the outcome of any one or more matters cannot be predicted with certainty, and the unfavorable resolution of any matter could have a material adverse effect on us.