Note 3 - Acquisitions and Divestitures (Tables)

9 Months Ended

Sep. 30, 2021

Notes Tables

Schedule of Business Acquisitions, by Acquisition [Table Text Block]

Adjusted purchase price	$	930
Less - consideration allocated to assets acquired and liabilities assumed for the Quincy overlap markets that were divested on August 2, 2021		383
Purchase consideration for assets acquired and liabilities assumed, net of divestitures	$	547

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]

	Quincy			Third Rail			Total
Cash	$	4		$	-		$	4
Accounts receivable, net		23			-			23
Other current assets		5			-			5
Property and equipment		73			24			97
Operating lease right of use asset		1			-			1
Goodwill		184			4			188
Broadcast licenses		245			-			245
Other intangible assets		86			-			86
Other current liabilities		(7	)		(1	)		(8	)
Deferred income taxes		(66	)		-			(66	)
Operating lease liabilities		(1	)		-			(1	)
Total	$	547		$	27		$	574

Property and equipment	$	6
Operating lease right of use asset		1
Goodwill		6
Broadcast licenses		5
Other intangible assets		7
Other liabilities		(1	)
Total	$	24

Business Combination, Separately Recognized Transactions [Table Text Block]

	September 30, 2021
	Three Months		Nine Months
	Ended		Ended
Transaction Related Expenses by type:
Legal, consulting and other professional fees	$	11	$	19
Incentive compensation and other severance costs		-		-
Termination of financing agreement		-		7
Total Transaction Related Expenses	$	11	$	26
Transaction Related Expenses by financial statement line item:
Operating expenses before depreciation, amortization and loss (gain) on disposal of assets, net:
Broadcasting	$	-	$	-
Corporate and administrative		11		19
Miscellaneous (income) expense, net		-		7
Total Transaction Related Expenses	$	11	$	26

Business Acquisition, Pro Forma Information [Table Text Block]

	Nine Months Ended
	September 30,
	2021		2020
Revenue (less agency commissions)	$	1,751	$	1,678
Net income	$	126	$	153
Net income attributable to common stockholders	$	87	$	114
Basic net income attributable to common stockholders, per share	$	0.93	$	1.18
Diluted net income attributable to common stockholders, per share	$	0.92	$	1.18