Note 9 - Commitments and Contingencies

12 Months Ended

Dec. 31, 2015

Commitments and Contingencies Disclosure [Text Block]

9.	Commitments and Contingencies

We have various contractual and other commitments requiring future payments. These commitments include amounts required to be paid for the acquisition of television stations; for the purchase of equipment; for operating lease commitments for equipment, land and office space; for commitments for various syndicated television programs; and for commitments under affiliation agreements with networks. Future minimum payments for these commitments as of December 31, 2015

are as follows (in thousands):

Year	2016 Acquisitions		Equipment		Operating Leases		Syndicated Television Programming		Network Affiliation Agreements		Total
2016	$	415,300	$	17	$	2,286	$	3,923	$	88,737	$	510,263
2017		-		-		2,021		11,151		105,038		118,210
2018		-		-		1,860		7,039		117,455		126,354
2019		-		-		1,673		719		71,418		73,810
2020		-		-		1,508		688		30,666		32,862
Thereafter		-		-		4,079		1,051		5,300		10,430
Total	$	415,300	$	17	$	13,427	$	24,571	$	418,614	$	871,929

The amounts in the table above are estimates of commitments that are in addition to the liabilities accrued for on our consolidated balance sheet as of December 31, 2015. The amount presented for “2016 Acquisitions” represents our net obligations under the Schurz Acquisition and Related Transactions as of December 31, 2015. These transactions were completed on February 16, 2016. For additional information on these transactions see Note 11 “Subsequent Events”.

Leases

We have no material capital leases. Where leases include rent holidays, rent escalations, rent concessions and leasehold improvement incentives, the value of these incentives are amortized over the lease term including anticipated renewal periods. Leasehold improvements are depreciated over the associated lease term including anticipated renewal periods. Rent expense resulting from operating leases for the years ended December 31, 2015, 2014 and 2013 were $2.8 million, $2.2 million and $1.6 million, respectively.

Legal Proceedings and Claims

We are and expect to continue to be subject to legal actions, proceedings and claims that arise in the normal course of our business. In the opinion of management, the amount of ultimate liability, if any, with respect to these known actions, proceedings and claims will not materially affect our financial position, results of operations or cash flows, although legal proceedings are subject to inherent uncertainties, and unfavorable rulings or events could occur that could negatively affect us, possibly materially.