Acquisitions and Dispositions (Tables)

6 Months Ended

Jun. 30, 2025

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 2025 and 2024 Acquisitions

	Acquisitions in
	2025		2024
	(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

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2025		2024		2025		2024
	(In thousands, except per share data)				(In thousands, except per share data)
Pro forma Consolidated Results of Operations
Net operating revenue	$	28,229	$	30,256	$	52,441	$	56,178
Station operating expense		22,226		23,692		44,189		46,679
Corporate general and administrative		3,074		3,004		6,241		6,087
Depreciation and amortization		1,267		1,350		2,593		2,685
Other operating expense (income), net		253		6		307		977
Operating income (loss)		1,409		2,204		(889)		(250)
Interest expense		107		123		214		245
Interest income		(210)		(251)		(432)		(554)
Other income, net		(1)		(1,133)		(24)		(1,133)
Income (loss) before income tax expense		1,513		3,465		(647)		1,192
Income tax (benefit) expense
Current		510		816		(160)		275
Deferred		(125)		149		(40)		71
		385		965		(200)		346
Net income (loss)	$	1,128	$	2,500	$	(447)	$	846
Income (loss) per share:
Basic	$	0.18	$	0.40	$	(0.07)	$	0.13
Diluted	$	0.18	$	0.40	$	(0.07)	$	0.13