XML 59 R43.htm IDEA: XBRL DOCUMENT v3.3.1.900
ACQUISITIONS, DIVESTITURES AND PRO FORMA SUMMARY (Tables)
12 Months Ended
Dec. 31, 2015
Business Combinations [Abstract]  
Schedule of merger and acquisition costs
Years Ended December 31,
201520142013
(amounts in thousands)
Restructuring charges - beginning balance$-$-$-
Costs to exit duplicative contracts646--
Workforce reduction1,538--
Lease abandonment costs687--
Changes in estimates (13)--
Total restructuring charges2,858---
Merger and acquisition costs3,9781,042-
Total merger & acquisition costs and restructuring charges$6,836$1,042$-
Total restructuring charges$2,858$-$-
Deductions from reserves through payments(1,172)--
Restructuring charges unpaid and outstanding$1,686$-$-
Schedule of unaudited pro forma summary of financial information
Years Ended December 31,
201520142013
(amounts in thousands, except per share data)
Pro FormaPro FormaActual
Net revenues$442,485$437,597$377,618
Net income (loss) available to the Company$33,050$22,736$26,024
Net income (loss) available to common shareholders$30,850$21,086$26,024
Net income (loss) available to commons shareholders
per common share - basic$0.81$0.56$0.70
Net income (loss) available to commons shareholders
per common share - diluted$0.79$0.55$0.68
Weighted shares outstanding basic38,08437,76337,418
Weighted shares outstanding diluted39,03838,66438,301
Conversion of preferred stock for dilutive purposes
under the as if methodanti-dilutiveanti-dilutiven/a
Schedule of the future amortization of unfavoarble leases from acquisition
As Of
December 31,
2015
(amounts in
thousands)
Years ending December 31,
2016$1,041
2017875
2018295
2019167
2020147
Thereafter518
$3,043
Schedule Of Acquisition Valuation [Table Text Block]
As ReportedAs Revised
September 30,December 31,Useful Lives In Years
Description2015Adjustment2015FromTo
(Amounts in thousands)
Cash$2,246$$2,246
Net accounts receivable11,9082511,933less than 1 year
Prepaid expenses, deposits and other95317970less than 1 year
Total current assets15,1074215,149
Land7,368-7,368non-depreciating
Land improvements87-871515
Building1,067-1,0671525
Leasehold improvements973-973211
Equipment and towers8,651-8,651340
Furniture and fixtures29-2955
Total tangible property18,175-18,175
Assets held for sale1,885-1,885
Other intangibles487-48715
Broadcasting licenses79,209-79,209non-amortizing
Goodwill5,866(1,364)4,502non-amortizing
Deferred tax assets-1,3641,364over remaining lease life
Total intangible and other assets87,447-87,447
Total assets$120,729$42$120,771
Accounts payable$723$-$723less than 1 year
Accrued expenses3,2322343,466less than 1 year
Other current liabilities12-12less than 1 year
Total current liabilities3,9672344,201
Unfavorable contracts and other liabilities3,272-3,272over remaining lease life
Total liabilities acquired$7,239$234$7,473
Net assets acquired$113,490$(192)$113,298