Acquisitions (Tables)

3 Months Ended

Mar. 31, 2020

Schedule of Television Stations Acquired

During 2019, we acquired the television stations listed in the table below, and a summary of each acquisition follows:



Market	Station	Affiliation	Seller
Indianapolis, IN	WTHR	NBC	Dispatch Broadcast Group
Columbus, OH	WBNS	CBS	Dispatch Broadcast Group
Hartford-New Haven, CT	WTIC/WCCT	FOX/CW	Nexstar Media Group
Harrisburg-Lancaster-Lebanon-York, PA	WPMT	FOX	Nexstar Media Group
Memphis, TN	WATN/WLMT	ABC/CW	Nexstar Media Group
Wilkes Barre-Scranton, PA	WNEP	ABC	Nexstar Media Group
Des Moines-Ames, IA	WOI/KCWI	ABC/CW	Nexstar Media Group
Huntsville-Decatur-Florence, AL	WZDX	FOX	Nexstar Media Group
Davenport, IA and Rock Island-Moline, IL	WQAD	ABC	Nexstar Media Group
Ft. Smith-Fayetteville-Springdale-Rogers, AR	KFSM	CBS	Nexstar Media Group
Toledo, OH	WTOL	CBS	Gray Television
Midland-Odessa, TX	KWES	NBC	Gray Television

Summary of Estimated Preliminary Fair Values of Assets Acquired and Liabilities Assumed

The following table summarizes the current fair values of the assets acquired and liabilities assumed in connection with these acquisitions (in thousands):



	Nexstar Stations		Dispatch Stations			Justice & Quest			Gray Stations		Total

Cash	$	—	$	2,363		$	—		$	—	$	2,363
Accounts receivable	34,680		26,344			8,501			5,553		75,078
Prepaid and other current assets	3,776		6,092			6,987			987		17,842
Property and equipment	45,186		40,418			361			11,757		97,722
Goodwill	126,928		202,274			23,558			19,405		372,165
FCC licenses	374,269		295,983			—			47,061		717,313
Network affiliation agreements	123,926		60,765			—			14,420		199,111
Retransmission agreements	68,316		33,107			—			12,198		113,621
Other intangible assets	—		—			52,553			—		52,553
Right-of-use assets for operating leases	22,715		362			—			251		23,328
Other noncurrent assets	237		—			5,253			18		5,508
Total assets acquired	$	800,033	$	667,708		$	97,213		$	111,650	$	1,676,604
Accounts Payable	2,037		954			725			1		3,717
Accrued liabilities	8,122		9,011			4,236			1,494		22,863
Deferred income tax liability	—		97,044			(471		)	—		96,573
Operating lease liabilities - noncurrent	20,346		226			—			235		20,807
Other noncurrent liabilities	426		—			2,677			—		3,103
Total liabilities assumed	$	30,931	$	107,235		$	7,167		$	1,730	$	147,063
Net assets acquired	$	769,102	$	560,473		$	90,046		$	109,920	$	1,529,541

Less: cash acquired	$	—	$	(2,363	)	$	—		$	—	$	(2,363	)
Less: fair value of existing ownership	—		—			(12,995		)	—		(12,995		)
Cash paid for acquisitions	$	769,102	$	558,110		$	77,051		$	109,920	$	1,514,183