Acquisitions and Dispositions (Tables)

9 Months Ended

Sep. 30, 2019

Acquisitions and Dispositions

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

Condensed Consolidated Balance Sheet of 2019 and 2018 Acquisitions

	Acquisitions in
	2019		2018
	(In thousands)
Assets Acquired:
Current assets	$	—	$	559
Property and equipment		25		3,007
Other assets:
Broadcast licenses		61		1,991
Goodwill		124		3,281
Other intangibles, deferred costs and investments		—		1,123
Total other assets		185		6,395
Total assets acquired		210		9,961
Liabilities Assumed:
Current liabilities		—		120
Total liabilities assumed		—		120
Net assets acquired	$	210	$	9,841

Schedule of Business Acquisition, Pro Forma Information

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2019		2018		2019		2018
Pro Forma Results of Operation
Net operating revenue	$	31,274	$	32,772	$	91,281	$	95,220
Station operating expense		23,600		24,321		69,642		72,617
Corporate general and administrative		2,788		2,813		8,179		8,205
Other operating expense , net		85		85		86		47
Operating income		4,801		5,553		13,374		14,351
Interest expense		180		243		572		717
Interest income		(162)		(167)		(485)		(444)
Other income		(11)		(25)		(11)		(25)
Income before income tax expense		4,794		5,502		13,298		14,103
Income tax expense		1,460		1,644		3,860		4,233
Net income	$	3,334	$	3,858	$	9,438	$	9,870
Earnings per share:
Basic	$	.56	$	.65	$	1.59	$	1.66
Diluted	$	.56	$	.65	$	1.59	$	1.66