Note 10 - Income Taxes (Tables)

12 Months Ended

Dec. 31, 2019

Notes Tables

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

	Year Ended December 31,
	2019		2018		2017
Current:
Federal	$	8	$	43	$	5
State and local		13		11		3
State and local - reserve for uncertain tax positions		-		-		1
Current income tax expense		21		54		9
Deferred:
Federal(1)		54		17		(82	)
State and local		1		6		4
Deferred income tax expense (benefit)		55		23		(78	)
Total income tax expense (benefit)	$	76	$	77	$	(69	)

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

	December 31,
	2019			2018
Deferred tax liabilities:
Net book value of property and equipment	$	83		$	21
Broadcast licenses, goodwill and other intangibles		869			286
Total deferred tax liabilities		952			307
Deferred tax assets:
Liability for accrued vacation		3			2
Liability for accrued bonus		7			4
Allowance for doubtful accounts		3			1
Liability under health and welfare plan		-			1
Liability for pension plan		10			8
Federal operating loss carryforwards		87			-
State and local operating loss carryforwards		31			2
Acquisition costs		2			2
Restricted stock		4			2
Investments		4			-
Interest expense limitation		4			-
Other		1			-
Total deferred tax assets		156			22
Valuation allowance for deferred tax assets		(14	)		-
Net deferred tax assets		142			22
Deferred tax liabilities, net of deferred tax assets	$	810		$	285

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

	Year Ended December 31,
	2019			2018			2017
Statutory federal rate applied to income before income tax expense	$	53		$	60		$	68
Current year permanent items		13			3			2
State and local taxes, net of federal tax benefit		13			14			8
Change in valuation allowance		(2	)		-			(2	)
Reserve for uncertain tax positions		-			-			1
Rate change due to enactment of tax reform		-			-			(146	)
Other items, net		(1	)		-			-
Income tax expense (benefit) as recorded	$	76		$	77		$	(69	)
Effective income tax rate		30	%		27	%		(36	)%