Acquisition (Tables)

9 Months Ended

Sep. 30, 2017

Business Combinations [Abstract]

Summary of Initial Purchase Price Allocation for Company's Acquisition of Headway

The following is a summary of the initial purchase price allocation for the Company’s acquisition of Headway (unaudited; in millions):

Accounts receivable	$	20.1
Intangible assets subject to amortization		17.1
Goodwill		18.9
Current liabilities		(24.0)
Deferred Tax		(6.6)

Changes in Carrying Amount of Goodwill

The changes in the carrying amount of goodwill for each of the Company’s operating segments for the nine-month period ended September 30, 2017 are as follows (in thousands):

		December 31,				September 30,
		2016		Acquisition		2017
Television	$	35,912	$	-	$	35,912
Digital		14,169		18,961		33,130
Consolidated	$	50,081	$	18,961	$	69,042

Schedule of Unaudited Pro Forma Information

The following unaudited pro forma information for the three- and nine-month periods ended September 30, 2017 and 2016 has been prepared to give effect to the acquisition of Headway as if the acquisition had occurred on January 1, 2016. This pro forma information does not purport to represent what the actual results of operations of the Company would have been had this acquisition occurred on such date, nor does it purport to predict the results of operations for any future periods.

	Three-Month Period				Nine-month Period
	Ended September 30,				Ended September 30,
	2017		2016		2017		2016
Pro Forma:
Total revenue	$	334,555	$	73,324	$	472,132	$	207,319
Net income (loss)	$	157,208	$	5,508	$	163,761	$	12,135
Basic and diluted earnings per share:
Net income per share, basic	$	1.74	$	0.06	$	1.81	$	0.14
Net income per share, diluted	$	1.71	$	0.06	$	1.78	$	0.13
Weighted average common shares outstanding, basic		90,517,492		89,590,135		90,370,679		89,208,732
Weighted average common shares outstanding, diluted		92,161,108		91,489,975		91,985,946		91,188,958