Note 8 - Income Taxes (Tables)

12 Months Ended

Dec. 31, 2018

Notes Tables

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

	Year Ended December 31,
	2018			2017			2016
Current:
Federal	$	42,531		$	4,633		$	-
State and local		11,447			3,261			2,730
State and local - reserve for uncertain tax positions		(63	)		757			(698	)
Current income tax expense		53,915			8,651			2,032
Deferred:
Federal (1)		17,385			(81,666	)		38,214
State and local		5,547			4,341			3,172
Deferred income tax expense (benefit)		22,932			(77,325	)		41,386
Total income tax expense (benefit)	$	76,847		$	(68,674	)	$	43,418

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

	December 31,
	2018		2017
Deferred tax liabilities:
Net book value of property and equipment	$	21,097	$	18,131
Broadcast licenses, goodwill and other intangibles		286,299		272,330
Total deferred tax liabilities		307,396		290,461
Deferred tax assets:
Liability for accrued vacation		1,461		1,438
Liability for accrued bonus		3,993		2,391
Allowance for doubtful accounts		1,358		1,170
Liability under health and welfare plan		639		608
Liability for pension plan		8,437		9,611
State and local operating loss carryforwards		2,358		4,719
Alternative minimum tax carryforwards		-		3,925
Acquisition costs		1,946		2,104
Restricted stock		2,083		2,636
Other		231		244
Total deferred tax assets		22,506		28,846
Valuation allowance for deferred tax assets		-		(75	)
Net deferred tax assets		22,506		28,771
Deferred tax liabilities, net of deferred tax assets	$	284,890	$	261,690

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

	Year Ended December 31,
	2018			2017			2016
Statutory federal rate applied to income before income tax expense	$	60,406		$	67,647		$	36,992
Current year permanent items		3,065			2,408			1,830
State and local taxes, net of federal tax benefit		14,004			7,889			5,056
Change in valuation allowance		(75	)		(1,457	)		(151	)
Reserve for uncertain tax positions		(63	)		757			(698	)
Rate change due to enactment of tax reform		-			(145,997	)		-
Other items, net		(490	)		79			389
Income tax expense (benefit) as recorded	$	76,847		$	(68,674	)	$	43,418
Effective income tax rate		26.7%			35.5%			41.1%