Acquisitions and Dispositions (Tables)

6 Months Ended

Jun. 30, 2024

Acquisitions and Dispositions

Schedule of recognized identified assets acquired and liabilities assumed

Condensed Consolidated Balance Sheet of 2024 and 2023 Acquisitions

	Acquisitions in
	2024		2023
	(In thousands)
Assets Acquired:
Current assets	$	542	$	—
Property and equipment		1,861		—
Other assets:
Broadcast licenses		1,211		—
Goodwill		1,127		—
Other intangibles, deferred costs and investments		1,082		—
Total other assets		3,420		—
Total assets acquired		5,823		—
Liabilities Assumed:
Current liabilities		118		—
Total liabilities assumed		118		—
Net assets acquired	$	5,705	$	—

Schedule of Business Acquisition, Pro Forma Information

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2024		2023		2024		2023
	(In thousands, except per share data)
Pro forma Consolidated Results of Operations
Net operating revenue	$	29,282	$	29,976	$	54,574	$	55,987
Station operating expense		24,023		23,095		47,669		45,482
Corporate general and administrative		3,049		2,472		6,178		5,088
Other operating expense, net		6		—		977		80
Operating income (loss)		2,204		4,409		(250)		5,337
Interest expense		123		122		245		244
Interest income		(251)		(347)		(554)		(636)
Other income, net		(1,133)		—		(1,133)		(119)
Income before income tax expense		3,465		4,634		1,192		5,848
Income tax provision
Current		817		905		276		1,185
Deferred		149		353		71		410
		966		1,258		347		1,595
Net income	$	2,499	$	3,376	$	845	$	4,253
Earnings per share:
Basic	$	0.40	$	0.55	$	0.13	$	0.69
Diluted	$	0.40	$	0.55	$	0.13	$	0.69