Acquisitions and Dispositions (Tables)
|
12 Months Ended |
Dec. 31, 2016 |
Business Acquisition [Line Items] |
|
Unaudited Pro forma Information |
The following unaudited pro forma information has been presented for the periods indicated as if the acquisition of CCA and the related consolidation of VIEs had occurred on January 1, 2014, and the acquisitions of IBS and Grant and the related consolidation of a VIE had occurred on January 1, 2013 (in thousands, except per share data):
|
|
2015 |
|
|
2014 |
|
Net revenue |
|
$ |
896,377 |
|
|
$ |
789,406 |
|
Income before income taxes |
|
|
130,477 |
|
|
|
137,005 |
|
Net income |
|
|
79,686 |
|
|
|
78,252 |
|
Net income attributable to Nexstar |
|
|
79,746 |
|
|
|
74,899 |
|
Net income per common share attributable to Nexstar - basic |
|
|
2.56 |
|
|
|
2.43 |
|
Net income per common share attributable to Nexstar - diluted |
|
|
2.48 |
|
|
|
2.34 |
|
|
WVMH [Member] |
|
Business Acquisition [Line Items] |
|
Schedule of Assets Acquired and Liabilities Assumed |
Subject to final determination, which is expected to occur within twelve months of the acquisition date, the provisional fair values of the assets acquired and liabilities assumed in the first closing are as follows (in thousands):
Accounts receivable |
|
$ |
438 |
|
Prepaid expenses and other current assets |
|
|
114 |
|
Property and equipment |
|
|
18,362 |
|
Other intangible assets |
|
|
3,402 |
|
Goodwill |
|
|
35 |
|
Total assets acquired at first closing |
|
|
22,351 |
|
Less: Accounts payable and accrued expenses |
|
|
(623 |
) |
Less: Other noncurrent liabilities |
|
|
(307 |
) |
Net assets acquired at first closing |
|
|
21,421 |
|
Deposit on second closing |
|
|
43,543 |
|
Total paid at first closing |
|
$ |
64,964 |
|
|
WVMH [Member] | Consolidated VIEs [Member] |
|
Business Acquisition [Line Items] |
|
Schedule of Assets Acquired and Liabilities Assumed |
Subject to final determination, which is expected to occur within twelve months from August 2, 2016, the provisional fair values of the remaining assets and liabilities consolidated are as follows (in thousands):
Broadcast rights |
|
$ |
527 |
|
Property and equipment |
|
|
3,489 |
|
FCC licenses |
|
|
41,230 |
|
Network affiliation agreements |
|
|
35,387 |
|
Goodwill |
|
|
28,588 |
|
Consolidated assets of VIEs |
|
|
109,221 |
|
Less: Broadcast rights payable |
|
|
(527 |
) |
Consolidated net asset of VIEs |
|
$ |
108,694 |
|
|
Reiten [Member] |
|
Business Acquisition [Line Items] |
|
Schedule of Assets Acquired and Liabilities Assumed |
The fair values of the assets acquired and liabilities assumed in the acquisition are as follows (in thousands):
Broadcast rights |
|
$ |
13 |
|
Property and equipment |
|
|
8,139 |
|
FCC licenses |
|
|
9,779 |
|
Network affiliation agreements |
|
|
16,084 |
|
Other intangible assets |
|
|
2,073 |
|
Goodwill |
|
|
7,931 |
|
Total assets acquired |
|
|
44,019 |
|
Less: Broadcast rights payable |
|
|
(13 |
) |
Less: Accounts payable and accrued expenses |
|
|
(8 |
) |
Net assets acquired |
|
$ |
43,998 |
|
|
KCWI [Member] |
|
Business Acquisition [Line Items] |
|
Schedule of Assets Acquired and Liabilities Assumed |
Subject to final determination, which is expected to occur within twelve months of the acquisition date, the provisional fair values of the assets acquired and liabilities assumed in the acquisition are as follows (in thousands):
Accounts receivable |
|
$ |
396 |
|
Broadcast rights |
|
|
1,740 |
|
Prepaid expenses and other current assets |
|
|
40 |
|
Property and equipment |
|
|
1,076 |
|
FCC licenses |
|
|
2,180 |
|
Other intangible assets |
|
|
2 |
|
Goodwill |
|
|
350 |
|
Total assets acquired |
|
|
5,784 |
|
Less: Broadcast rights payable |
|
|
(1,886 |
) |
Less: Accrued expenses |
|
|
(17 |
) |
Net assets acquired |
|
$ |
3,881 |
|
|
CCA [Member] |
|
Business Acquisition [Line Items] |
|
Schedule of Assets Acquired and Liabilities Assumed |
The fair values of the assets acquired and liabilities assumed in the CCA acquisition (net of the effects of the sale of WEVV to BCB), including the consolidation of the assets and liabilities of White Knight, KPEJ and KMSS, are as follows (in thousands):
Cash |
|
$ |
2,323 |
|
Accounts receivable |
|
|
19,975 |
|
Broadcast rights |
|
|
10,233 |
|
Deferred tax assets |
|
|
247 |
|
Prepaid expenses and other current assets |
|
|
257 |
|
Property and equipment |
|
|
26,012 |
|
FCC licenses |
|
|
71,465 |
|
Network affiliation agreements |
|
|
86,219 |
|
Other intangible assets |
|
|
7,818 |
|
Goodwill |
|
|
120,370 |
|
Other assets |
|
|
59 |
|
Total assets acquired and consolidated |
|
|
344,978 |
|
Less: Broadcast rights payable |
|
|
(10,467 |
) |
Less: Accounts payable and accrued expenses |
|
|
(4,703 |
) |
Less: Taxes payable |
|
|
(18,613 |
) |
Less: Other current liabilities |
|
|
(336 |
) |
Less: Deferred tax liabilities |
|
|
(57,022 |
) |
Less: Other noncurrent liabilities |
|
|
(221 |
) |
Less: Noncontrolling interest in a consolidated VIE |
|
|
(2,900 |
) |
Net assets acquired and consolidated |
|
$ |
250,716 |
|
|
KASW [Member] |
|
Business Acquisition [Line Items] |
|
Schedule of Assets Acquired and Liabilities Assumed |
The fair values of the assets acquired and liabilities assumed in the acquisition are as follows (in thousands):
Accounts receivable |
|
$ |
3,544 |
|
Broadcast rights |
|
|
8,771 |
|
Prepaid expenses and other current assets |
|
|
24 |
|
Property and equipment |
|
|
987 |
|
FCC licenses |
|
|
35,566 |
|
Other intangible assets |
|
|
713 |
|
Goodwill |
|
|
32,203 |
|
Total assets acquired |
|
|
81,808 |
|
Less: Broadcast rights payable |
|
|
(10,291 |
) |
Less: Accounts payable and accrued expenses |
|
|
(739 |
) |
Net assets acquired |
|
$ |
70,778 |
|
|
Yashi [Member] |
|
Business Acquisition [Line Items] |
|
Schedule of Assets Acquired and Liabilities Assumed |
The fair values of the assets acquired and liabilities assumed in the acquisition are as follows (in thousands):
Cash |
|
$ |
1,470 |
|
Accounts receivable |
|
|
6,788 |
|
Property and equipment |
|
|
114 |
|
Developed technology and other intangible assets |
|
|
18,348 |
|
Goodwill |
|
|
21,353 |
|
Other assets |
|
|
15 |
|
Total assets acquired |
|
|
48,088 |
|
Less: Accounts payable and accrued expenses |
|
|
(7,641 |
) |
Less: Taxes payable |
|
|
(108 |
) |
Less: Deferred tax liabilities |
|
|
(6,985 |
) |
Net assets acquired |
|
$ |
33,354 |
|
|
KLAS [ Member] |
|
Business Acquisition [Line Items] |
|
Schedule of Assets Acquired and Liabilities Assumed |
The fair values of the assets acquired and liabilities assumed in the acquisition are as follows (in thousands):
Cash |
|
$ |
18 |
|
Accounts receivable |
|
|
6,654 |
|
Broadcast rights |
|
|
58 |
|
Prepaid expenses and other current assets |
|
|
438 |
|
Property and equipment |
|
|
19,238 |
|
FCC licenses |
|
|
60,627 |
|
Network affiliation agreements |
|
|
49,520 |
|
Goodwill |
|
|
15,520 |
|
Total assets acquired |
|
|
152,073 |
|
Less: Broadcast rights payable |
|
|
(58 |
) |
Less: Accounts payable and accrued expenses |
|
|
(1,051 |
) |
Less: Other current liabilities |
|
|
(201 |
) |
Net assets acquired |
|
$ |
150,763 |
|
|
Kixer [Member] |
|
Business Acquisition [Line Items] |
|
Schedule of Assets Acquired and Liabilities Assumed |
The estimated fair values of the assets acquired and liabilities assumed in the acquisition are as follows (in thousands):
Cash |
|
$ |
251 |
|
Accounts receivable |
|
|
978 |
|
Prepaid expenses and other current assets |
|
|
4 |
|
Property and equipment |
|
|
19 |
|
Developed technology and other intangible assets |
|
|
6,089 |
|
Goodwill |
|
|
6,958 |
|
Total assets acquired |
|
|
14,299 |
|
Less: Accounts payable and accrued expenses |
|
|
(735 |
) |
Less: Deferred tax liabilities |
|
|
(2,109 |
) |
Net assets acquired |
|
$ |
11,455 |
|
|