Note 9 - Commitments and Contingencies

12 Months Ended

Dec. 31, 2016

Notes to Financial Statements

Commitments and Contingencies Disclosure [Text Block]

9.

      Commitments and Contingencies

We have various contractual and other commitments requiring future payments. These commitments include amounts required to be paid for the acquisition of television stations; for the purchase of property and equipment; for service and other agreements; for operating lease commitments for equipment, land and office space; for commitments for various syndicated television programs; and for commitments under affiliation agreements with networks. Future minimum payments for these commitments as of

December

31,

2016

were as follows (in thousands):

			Property		Service and				Syndicated		Network
	Pending		and		Other		Operating		Television		Affiliation
Year	Acquisitions		Equipment		Agreements		Leases		Programming		Agreements		Total
2017	$	287,097	$	5,467	$	2,856	$	2,905	$	5,702	$	129,260	$	433,287
2018		-		-		2,856		2,178		12,550		137,228		154,812
2019		-		-		749		1,907		4,091		78,261		85,008
2020		-		-		-		1,362		2,872		31,370		35,604
2021		-		-		-		1,155		563		3,941		5,659
Thereafter		-		-		-		3,680		290		2,137		6,107
Total	$	287,097	$	5,467	$	6,461	$	13,187	$	26,068	$	382,197	$	720,477

The amounts in the table above are estimates of commitments that are in addition to the liabilities accrued for on our consolidated balance sheet as of

December

31,

2016.

The amount presented for pending acquisitions represents our net obligations under our pending acquisitions as of

December

31,

2016.

Certain of these transactions were completed in

January

 

2017.

For additional information on these transactions see Note

2

“Acquisitions and Dispositions” and Note

11

“Subsequent Events.”

Leases

We have no material capital leases. Where leases include rent holidays, rent escalations, rent concessions and leasehold improvement incentives, the value of these incentives are amortized over the lease term including anticipated renewal periods. Leasehold improvements are depreciated over the associated lease term including anticipated renewal periods. Rent expense resulting from operating leases for the years ended

December

31,

2016,

2015

and

2014

were

$3.5

million,

$2.8

million and

$2.2

million, respectively.

Legal Proceedings and Claims

We are and expect to continue to be subject to legal actions, proceedings and claims that arise in the normal course of our business. In the opinion of management, the amount of ultimate liability, if any, with respect to these known actions, proceedings and claims will not materially affect our financial position, results of operations or cash flows, although legal proceedings are subject to inherent uncertainties, and unfavorable rulings or events could occur that could negatively affect us, possibly materially.