Acquisitions and Dispositions (Tables)

6 Months Ended

Jun. 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

Business Acquisition, Pro Forma Information

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2019		2018		2019		2018
ProForma Results of Operation
Net operating revenue	$	32,191	$	33,473	$	60,007	$	62,448
Station operating expense		22,879		24,064		46,042		48,296
Corporate general and administrative		2,706		2,848		5,391		5,392
Other operating (income) expense , net		(2)		213		1		(38)
Operating income		6,608		6,348		8,573		8,798
Interest expense		184		255		392		474
Interest income		(160)		(188)		(323)		(277)
Income before income tax expense		6,584		6,281		8,504		8,601
Income tax expense		1,850		1,890		2,400		2,589
Net income	$	4,734	$	4,391	$	6,104	$	6,012
Earnings per share:
Basic	$	.80	$	.74	$	1.03	$	1.01
Diluted	$	.80	$	.74	$	1.03	$	1.01