Exchange of Stations in Puerto Rico	9 Months Ended
Sep. 30, 2015
Exchange Of Stations [Abstract]
Exchange of Stations in Puerto Rico	12. Exchange of Stations in Puerto Rico Since September of last year, we have been operating three full power television stations, WTCV-DT, Channel 32, WVEO-DT, Channel 17, and WVOZ-DT, Channel 47, in Puerto Rico (the “Television Stations”) pursuant to a programming agreement with International Broadcast Corp. That entity has the right to operate three of our radio stations WIOA-FM, WZET-FM and WIOC-FM in Puerto Rico (the “Radio Stations”) pursuant to a separate programming agreement, although we have continued operating one of those three stations, WZET-FM. In connection with those agreements, International Broadcast Corp. granted us an option to swap our Radio Stations plus $1.9 million for the Television Stations, subject to obtaining approval from the Federal Communications Commission (“FCC”). We exercised the option earlier this year and expect to receive FCC approval and be able to close this transaction, which will qualify as a like-kind exchange under Section 1031 of the Internal Revenue Code, before the end of the year. The closing of this transaction will afford us the flexibility of participating in the upcoming FCC television spectrum auction with all three of the acquired licenses and capture the potential excess value of those licenses that is expected to be created by the auction process. There can be no assurance that the FCC auction will be successfully completed or that any expected excess value will be subsequently realized.

12. Exchange of Stations in Puerto Rico

Since September of last year, we have been operating three full power television stations, WTCV-DT, Channel 32, WVEO-DT, Channel 17, and WVOZ-DT, Channel 47, in Puerto Rico (the “Television Stations”) pursuant to a programming agreement with International Broadcast Corp. That entity has the right to operate three of our radio stations WIOA-FM, WZET-FM and WIOC-FM in Puerto Rico (the “Radio Stations”) pursuant to a separate programming agreement, although we have continued operating one of those three stations, WZET-FM. In connection with those agreements, International Broadcast Corp. granted us an option to swap our Radio Stations plus $1.9 million for the Television Stations, subject to obtaining approval from the Federal Communications Commission (“FCC”). We exercised the option earlier this year and expect to receive FCC approval and be able to close this transaction, which will qualify as a like-kind exchange under Section 1031 of the Internal Revenue Code, before the end of the year. The closing of this transaction will afford us the flexibility of participating in the upcoming FCC television spectrum auction with all three of the acquired licenses and capture the potential excess value of those licenses that is expected to be created by the auction process. There can be no assurance that the FCC auction will be successfully completed or that any expected excess value will be subsequently realized.