Note 3 - Acquisitions and Divestitures (Tables)

12 Months Ended

Dec. 31, 2021

Notes Tables

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

Adjusted purchase price	$	936
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	$	553

				KYOU
				and		Net
	Raycom			WUPV		Consideration
Purchase Price	$	3,660		$	17	$	3,677
Less - consideration allocated to all assets acquired and net of liabilities assumed for the Raycom overlap market stations which were also divested on January 2, 2019		(234	)		-		(234	)
Purchase consideration for assets acquired and liabilities assumed net of divestitures	$	3,426		$	17	$	3,443

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

	Meredith			Quincy			Third Rail			Total
Cash	$	1		$	4		$	-		$	5
Accounts receivable, net		147			23			-			170
Other current assets		18			5			-			23
Property and equipment		235			74			24			333
Operating lease right of use asset		15			1			-			16
Goodwill		1,012			190			4			1,206
Broadcast licenses		1,516			245			-			1,761
Other intangible assets		455			85			-			540
Other current liabilities		(104	)		(7	)		(1	)		(112	)
Deferred income taxes		(477	)		(66	)		-			(543	)
Operating lease liabilities		(15	)		(1	)		-			(16	)
Total	$	2,803		$	553		$	27		$	3,383

	2020 Acquisitions
	Lubbock			Alaska		Columbus		Sioux Falls		Total
Accounts receivable and other current assets	$	-		$	1	$	-	$	-	$	1
Property and equipment		6			5		2		-		13
Operating lease right of use asset		1			-		-		-		1
Goodwill		6			2		1		11		20
Broadcast licenses		5			2		-		-		7
Other intangible assets		7			9		19		11		46
Other current liabilities		(1	)		-		-		-		(1	)
Total	$	24		$	19	$	22	$	22	$	87

	2019 Acquisitions
	Raycom			United		Sioux Falls			Charlottesville		Total
Cash	$	115		$	-	$	-		$	-	$	115
Accounts receivable, net		243			3		1			1		248
Program broadcast rights		12			-		-			-		12
Other current assets		10			-		-			-		10
Property and equipment		311			10		10			7		338
Operating lease right of use asset		52			-		-			-		52
Goodwill		829			3		2			-		834
Broadcast licenses		2,004			24		14			2		2,044
Other intangible assets		504			8		7			3		522
Other non-current assets		20			-		-			-		20
Employee compensation and benefits		(29	)		-		-			-		(29	)
Program broadcast obligations		(16	)		-		-			-		(16	)
Other current liabilities		(60	)		-		(1	)		-		(61	)
Federal and state income taxes payable		(3	)		-		-			-		(3	)
Deferred income taxes		(472	)		-		-			-		(472	)
Operating lease liabilities		(52	)		-		-			-		(52	)
Other long-term liabilities		(25	)		-		-			-		(25	)
Total	$	3,443		$	48	$	33		$	13	$	3,537

Business Combination, Separately Recognized Transactions [Table Text Block]

	Year Ended
	December 31,
	2021
Transaction Related Expenses by type:
Legal, consulting and other professional fees	$	80
Termination of sales representation and other agreements		1
Total Transaction Related Expenses	$	81
Transaction Related Expenses by financial statement line item:
Operating expenses before depreciation, amortization and loss (gain) on disposal of assets, net:
Broadcasting	$	3
Corporate and administrative		71
Miscellaneous Expense		7
Total Transaction Related Expenses	$	81

	Year Ended
	December 31,
	2019
Transaction Related Expenses by type:
Legal, consulting and other professional fees	$	24
Incentive compensation and other severance costs		21
Termination of sales representation and other agreements		34
Total Transaction Related Expenses	$	79
Transaction Related Expenses by financial statement line item:
Operating expenses before depreciation, amortization and loss (gain) on disposal of assets, net:
Broadcasting	$	45
Corporate and administrative		34
Total Transaction Related Expenses	$	79

Business Acquisition, Pro Forma Information [Table Text Block]

	Year Ended		Year Ended
	December 31,		December 31,
	2021		2020
Revenue (less agency commissions)	$	3,153	$	3,353
Net income	$	199	$	488
Net income attributable to common stockholders	$	147	$	436
Basic net income attributable to common stockholders, per share	$	2.09	$	4.54
Diluted net income attributable to common stockholders, per share	$	2.09	$	4.49

Disposal Groups, Including Discontinued Operations [Table Text Block]

	Total
	Cash		Station		Current
	Consideration		Call		DMA
Purchaser	Received		Letters	DMA	Rank
Lockwood Broadcasting, Inc.	$	67	WTNZ	Knoxville, TN	59
			WFXG	Augusta, GA	111
			WPGX	Panama City, FL	140
			WDFX	Dothan, AL	172
Scripps Media, Inc.		55	KXXV	Waco/Temple/Bryan, TX	93
			KRHD	Waco/Temple/Bryan, TX	93
			WTXL	Tallahassee, FL	114
TEGNA, Inc.		109	WTOL	Toledo, OH	78
			KWES	Odessa/Midland, TX	155
Total	$	231