Note 7 - Income Taxes (Tables)

12 Months Ended

Dec. 31, 2017

Notes Tables

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

	Year Ended December 31,
	2017			2016			2015
Current:
Federal	$	4,633		$	-		$	-
State and local		3,261			2,730			1,259
State and local - reserve for uncertain tax positions		757			(698	)		(581	)
Current income tax expense (benefit)		8,651			2,032			678
Deferred:
Federal (1)		(81,666	)		38,214			24,067
State and local		4,341			3,172			1,703
Deferred income tax (benefit) expense		(77,325	)		41,386			25,770
Total income tax (benefit) expense	$	(68,674	)	$	43,418		$	26,448

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

	December 31,
	2017			2016
Deferred tax liabilities:
Net book value of property and equipment	$	18,131		$	26,620
Broadcast licenses, goodwill and other intangibles		272,330			369,275
Total deferred tax liabilities		290,461			395,895
Deferred tax assets:
Liability for accrued vacation		1,438			2,232
Liability for accrued bonus		2,391			5,483
Loan acquisition costs		47			336
Allowance for doubtful accounts		1,170			1,168
Liability under health and welfare plan		608			1,201
Liability for pension plan		9,611			13,278
Federal operating loss carryforwards		-			20,401
State and local operating loss carryforwards		4,719			4,555
Alternative minimum tax carryforwards		3,925			386
Unearned income		2			3
Stock options		113			174
Acquisition costs		2,104			3,140
Restricted stock		2,636			1,950
Other		82			109
Total deferred tax assets		28,846			54,416
Valuation allowance for deferred tax assets		(75	)		(1,532	)
Net deferred tax assets		28,771			52,884
Deferred tax liabilities, net of deferred tax assets	$	261,690		$	343,011

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

	Year Ended December 31,
	2017			2016			2015
Statutory federal rate applied to income before income tax expense	$	67,647		$	36,992		$	23,012
Current year permanent items		2,408			1,830			1,192
State and local taxes, net of federal tax benefit		7,889			5,056			2,831
Change in valuation allowance		(1,457	)		(151	)		(369	)
Reserve for uncertain tax positions		757			(698	)		(581	)
Rate change due to enactment of tax reform		(145,997	)		-			-
Other items, net		79			389			363
Income tax (benfit) expense as recorded	$	(68,674	)	$	43,418		$	26,448
Effective income tax (benefit) expense rate		(35.5)%			41.1%			40.2%