Acquisitions and Dispositions (Tables)

9 Months Ended

Sep. 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	$	533	$	—
Property and equipment		2,035		—
Other assets:
Broadcast licenses		1,346		—
Goodwill		891		—
Other intangibles, deferred costs and investments		1,034		—
Total other assets		3,271		—
Total assets acquired		5,839		—
Liabilities Assumed:
Current liabilities		128		—
Total liabilities assumed		128		—
Net assets acquired	$	5,711	$	—

Schedule of Business Acquisition, Pro Forma Information

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2024		2023		2024		2023
	(In thousands, except per share data)
Pro forma Consolidated Results of Operations
Net operating revenue	$	28,118	$	29,986	$	82,692	$	85,973
Station operating expense		23,458		23,474		71,127		68,956
Corporate general and administrative		2,966		2,852		9,144		7,940
Other operating expense, net		49		45		1,026		125
Operating income		1,645		3,615		1,395		8,952
Interest expense		121		122		366		366
Interest income		(255)		(391)		(809)		(1,027)
Other income, net		(78)		—		(1,211)		(119)
Income before income tax expense		1,857		3,884		3,049		9,732
Income tax provision
Current		415		845		690		2,025
Deferred		175		277		246		691
		590		1,122		936		2,716
Net income	$	1,267	$	2,762	$	2,113	$	7,016
Earnings per share:
Basic	$	0.20	$	0.45	$	0.34	$	1.15
Diluted	$	0.20	$	0.45	$	0.34	$	1.15