Acquisitions and Dispositions (Tables)

3 Months Ended

Mar. 31, 2018

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

Condensed Consolidated Balance Sheet of 2018 and 2017 Acquisitions

	Acquisitions in
	2018		2017
	(In thousands)
Assets Acquired:
Current assets	$	—	$	1,335
Property and equipment		—		6,678
Other assets:
Broadcast licenses		—		8,086
Goodwill		—		8,151
Other intangibles, deferred costs and investments		—		2,019
Total other assets		—		18,256
Total assets acquired		—		26,269
Liabilities Assumed:
Current liabilities		—		413
Total liabilities assumed		—		413
Net assets acquired	$	—	$	25,856

Business Acquisition, Pro Forma Information

The pro forma results have been prepared for comparative purposes only and do not purport to indicate the results of operations which would actually have occurred had the combinations been in effect on the dates indicated or which may occur in the future.

	Three Months Ended March 31,
	2018		2017

ProForma Results of Operation
Net operating revenue	$	28,009	$	28,132
Station operating expense		23,397		23,070
Corporate general and administrative		2,544		2,863
Other operating income, net		(251)		(21)
Operating income from continuing operations		2,319		2,220
Interest expense		219		208
Other income		(89)		—
Income from continuing operations, before tax		2,189		2,012
Income tax expense		660		819
Income from continuing operations, net of tax		1,529		1,193
Income from discontinued operations, net of tax		—		891
Net income	$	1,529	$	2,084

Basic earnings per share:
From continuing operations	$	.26	$	.20
From discontinued operations		—		.15
Basic earnings per share	$	.26	$	.35

Diluted earnings per share:
From continuing operations	$	.26	$	.20
From discontinued operations		—		.15
Diluted earnings per share	$	.26	$	.35