Acquisitions (Tables)

12 Months Ended

Dec. 31, 2020

Business Combinations [Abstract]

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 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 expenses 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	128,191		202,312		23,567		19,405		373,475
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	$	801,296	$	667,746	$	97,222	$	111,650	$	1,677,914
Accounts payable	2,037		954		725		1		3,717
Accrued liabilities	8,544		9,011		4,236		1,494		23,285
Deferred income tax liability	—		97,082		(462)		—		96,620
Operating lease liabilities - noncurrent	20,346		226		—		235		20,807
Other noncurrent liabilities	426		—		2,677		—		3,103
Total liabilities assumed	$	31,353	$	107,273	$	7,176	$	1,730	$	147,532
Net assets acquired	$	769,943	$	560,473	$	90,046	$	109,920	$	1,530,382
Less: cash acquired	$	—	$	(2,363)	$	—	$	—	$	(2,363)
Less: fair value of existing ownership	—		—		(12,995)		—		(12,995)
Cash paid for acquisitions	$	769,943	$	558,110	$	77,051	$	109,920	$	1,515,024