XML 116 R4.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2
Consolidated Statements of Operations - USD ($)
$ in Thousands
5 Months Ended 7 Months Ended 12 Months Ended
Jun. 03, 2018
Dec. 31, 2018
Dec. 31, 2019
Income Statement [Abstract]      
Net revenue $ 453,924 $ 686,436 $ 1,113,445
Operating expenses:      
Content costs 163,885 238,888 405,653
Selling, general & administrative expenses 195,278 276,551 461,218
Depreciation and amortization 22,046 34,060 52,554
Local marketing agreement fees 1,809 2,471 3,500
Corporate expenses 17,169 31,714 57,988
(Gain) loss on sale of assets or stations 158 103 (55,403)
Impairment of assets held for sale 0 0 6,165
Impairment of intangible assets 0 0 15,563
Total operating expenses 400,345 583,787 947,238
Operating income 53,579 102,649 166,207
Non-operating (expense) income:      
Reorganization items, net 466,201 0 0
Interest expense (260) (50,718) (82,916)
Interest income 50 36 25
Gain on early extinguishment of debt 0 201 381
Other expense, net (273) (3,096) (177)
Total non-operating (expense) income, net 465,718 (53,577) (82,687)
Income before income taxes 519,297 49,072 83,520
Income tax (expense) benefit 176,859 12,353 (22,263)
Net income $ 696,156 $ 61,425 $ 61,257
Basic and diluted earnings per common share (see Note 15, Earnings Per Share):      
Basic: Earnings per share (usd per share) $ 23.73 $ 3.07 $ 3.04
Diluted: Earnings per share (usd per share) $ 23.73 $ 3.05 $ 3.02
Weighted average basic common shares outstanding (in shares) 29,338,329 20,028,227 20,130,835
Weighted average diluted common shares outstanding (in shares) 29,338,329 20,164,638 20,284,137