Discontinued Operations (Tables) - Joplin, Missouri and Victoria, Texas Television Stations [Member]

12 Months Ended

Dec. 31, 2018

Disposal Groups, Including Discontinued Operations

The following table shows the components of the results from discontinued operations associated with the Television Sale as reflected in the Company’s Consolidated Statements of Operations (in thousands):

	Year Ended December 31,
	2018		2017 (4)		2016
Net operating revenue	$	—	$	14,238	$	23,636
Station operating expense (1)		—		9,757		14,743
Other operating (income) expense		—		31		(42	)
Operating income		—		4,450		8,935
Interest expense (2)		—		21		32
Income before income taxes		—		4,429		8,903
Pretax gain on the disposal of discontinued operations		—		50,842		—
Total pretax gain on discontinued operations		—		55,271		8,903
Income tax expense (3)		—		22,800		3,627
Income from discontinued operations, net of tax	$	—	$	32,471	$	5,276

(1) No depreciation expense was recorded by the Company beginning May 9, 2017, the date the Television segment assets’ were held for sale.

(2) Interest expense related to the Surtsey debt that is guaranteed by the Television stations. Our affiliate repaid this loan when the television stations were sold on September 1, 2017.

(3) The effective tax rates on pretax income from discontinued operations were approximately 41%.

(4) Results of operations for the Television stations are reflected through August 31, 2017. The effective date of the sale was September 1, 2017.

Disclosure of Condensed Consolidated Statements of Cash Flows

The following table represents the components of the results from discontinued operations associated with the Television Sale as reflected in the Company’s unaudited Condensed Consolidated Statements of Cash Flows (in thousands):

	December 31, 2018		December 31, 2017		December 31, 2016
Cash paid during the period
Interest	$	—	$	21	$	32
Income taxes		—		23,260		2,677
Significant operating non-cash items
Depreciation and amortization (1)	$	—	$	445	$	1,387
Broadcast program rights amortization		—		418		628
Barter revenue, net		—		18		32
Acquisition of property and equipment		—		—		43
Loss (gain) on sale of assets		—		31		(42	)
Pretax gain on television sale		—		50,842		—
Significant investing items
Acquisition of property and equipment	$	—	$	335	$	894
Proceeds from sale and disposal of assets		—		—		(59	)
Net proceeds from sale of television stations (2)		—		69,528		—
Proceeds from insurance claim		—		—		—

(1) No depreciation expense was recorded by the Company beginning May 9, 2017, the date the Television segment assets’ were held for sale.

(2) Net proceeds from the sale of the television stations reflect the sales price of $66.6 million, the sale of accounts receivable of approximately $3.4 million, offset by certain closing adjustments and transactional costs of approximately $500 thousand.