Note 15 - Subsequent Events

12 Months Ended

Dec. 31, 2025

Notes to Financial Statements

Subsequent Events [Text Block]

15. Subsequent Events

On December 16, 2025, we announced that we reached an agreement with Bahakel Communications, Limited to purchase WBBJ-TV (ABC, CBS) in Jackson, Tennessee. On January 1, 2026, we acquired all of the non-license assets of the station and commenced operating the station pursuant to a standard pre-closing agreement, and, on February 13, 2026, we acquired the license assets of the station for a total consideration of $25 million. The initial accounting for this acquisition is incomplete as of the date these financial statements are available to be issued, as the information necessary to complete such evaluation is in the process of being obtained and more thoroughly evaluated. We have not yet determined the accounting purchase price allocation, which includes evaluating the fair value of the acquired assets and assumed liabilities.

On January 20, 2026, we received $10 million in cash proceeds from the closing of the sale of our investment in FreeTV, Inc. We may receive up to $6 million in additional consideration over the next three years should FreeTV achieve certain financial targets.

On January 20, 2026, we repaid all amounts then outstanding under our 2026 Notes Indenture.