Acquisitions and Dispositions (Tables)

12 Months Ended

Dec. 31, 2024

Acquisitions and Dispositions

Schedule of the key assumptions used in the discounted cash flow analysis for the fair value of the FCC license

Discount rate	9.5	%
Operating profit margin ranges	27.5	%
Market long-term revenue growth rates	0.5	%

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	$	534	$	—
Property and equipment		2,035		—
Other assets:
Broadcast licenses		2,150		—
Goodwill		76		—
Other intangibles, deferred costs and investments		1,044		—
Total other assets		3,270		—
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

	Years Ended December 31,
	2024		2023
	(In thousands, except per share data)
Pro forma Consolidated Results of Operations
Net operating revenue	$	114,087	$	118,764
Station operating expense		98,049		95,688
Corporate general and administrative		12,611		10,966
Other operating expense (income), net		1,048		120
Operating income		2,379		11,990
Interest expense		479		488
Interest income		(1,047)		(1,441)
Other income, net		(1,516)		(119)
Income before income tax expense		4,463		13,062
Income tax expense (benefit)
Current		1,200		3,015
Deferred		(119)		389
		1,081		3,404
Net income	$	3,382	$	9,658
Earnings per share:
Basic	$	0.54	$	1.57
Diluted	$	0.54	$	1.57