XML 41 R27.htm IDEA: XBRL DOCUMENT
v3.22.4

Note 3 - Acquisitions and Divestitures (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2022
Notes Tables |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block] |
Accounts receivable, net |  | $ | 1 |
Property and equipment |  |  | 1 |
Goodwill |  |  | 10 |
Broadcast licenses |  |  | 1 |
Network affiliation |  |  | 14 |
Other intangible assets |  |  | 4 |
Total |  | $ | 31 |
|  | Meredith |  |  | Quincy |  |  | Third Rail |  |  | Total |
Cash |  | $ | 1 |  |  | $ | 4 |  |  | $ | - |  |  | $ | 5 |
Accounts receivable, net |  |  | 146 |  |  |  | 23 |  |  |  | - |  |  |  | 169 |
Other current assets |  |  | 15 |  |  |  | 5 |  |  |  | - |  |  |  | 20 |
Property and equipment |  |  | 235 |  |  |  | 74 |  |  |  | 24 |  |  |  | 333 |
Operating lease right of use asset |  |  | 15 |  |  |  | 1 |  |  |  | - |  |  |  | 16 |
Goodwill |  |  | 1,016 |  |  |  | 190 |  |  |  | 4 |  |  |  | 1,210 |
Broadcast licenses |  |  | 1,516 |  |  |  | 245 |  |  |  | - |  |  |  | 1,761 |
Other intangible assets |  |  | 455 |  |  |  | 85 |  |  |  | - |  |  |  | 540 |
Other non-current assets |  |  | 3 |  |  |  | - |  |  |  | - |  |  |  | 3 |
Other current liabilities |  |  | (104 | ) |  |  | (7 | ) |  |  | (1 | ) |  |  | (112 | )
Deferred income taxes |  |  | (477 | ) |  |  | (66 | ) |  |  | - |  |  |  | (543 | )
Operating lease liabilities |  |  | (15 | ) |  |  | (1 | ) |  |  | - |  |  |  | (16 | )
Other non-current liabilities |  |  | (3 | ) |  |  | - |  |  |  | - |  |  |  | (3 | )
Total |  | $ | 2,803 |  |  | $ | 553 |  |  | $ | 27 |  |  | $ | 3,383 |
|  | 2020 Acquisitions |
|  | Lubbock |  |  | Alaska |  |  | Columbus |  |  | Sioux Falls |  |  | Total |
Accounts receivable and other current assets |  | $ | - |  |  | $ | 1 |  |  | $ | - |  |  | $ | - |  |  | $ | 1 |
Property and equipment |  |  | 6 |  |  |  | 5 |  |  |  | 2 |  |  |  | - |  |  |  | 13 |
Operating lease right of use asset |  |  | 1 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 1 |
Goodwill |  |  | 6 |  |  |  | 2 |  |  |  | 1 |  |  |  | 11 |  |  |  | 20 |
Broadcast licenses |  |  | 5 |  |  |  | 2 |  |  |  | - |  |  |  | - |  |  |  | 7 |
Other intangible assets |  |  | 7 |  |  |  | 9 |  |  |  | 19 |  |  |  | 11 |  |  |  | 46 |
Other current liabilities |  |  | (1 | ) |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (1 | )
Total |  | $ | 24 |  |  | $ | 19 |  |  | $ | 22 |  |  | $ | 22 |  |  | $ | 87 |
Schedule of Business Acquisitions, by Acquisition [Table Text Block] |
Adjusted purchase price |  | $ | 936 |
Less - consideration allocated to assets acquired and liabilities assumed for the Quincy overlap markets that were divested on August 2, 2021 |  |  | 383 |
Purchase consideration for assets acquired and liabilities assumed, net of divestitures |  | $ | 553 |
Business Combination, Separately Recognized Transactions [Table Text Block] |
|  | Year Ended |
|  | December 31, |
|  | 2021 |
Transaction Related Expenses by type: |  |  |  |
Legal, consulting and other professional fees |  | $ | 80 |
Termination of sales representation and other agreements |  |  | 1 |
Total Transaction Related Expenses |  | $ | 81 |
Transaction Related Expenses by financial statement line item: |  |  |  |
Operating expenses before depreciation, amortization and loss (gain) on disposal of assets, net: |  |  |  |
Broadcasting |  | $ | 3 |
Corporate and administrative |  |  | 71 |
Miscellaneous Expense |  |  | 7 |
Total Transaction Related Expenses |  | $ | 81 |
Business Acquisition, Pro Forma Information [Table Text Block] |
|  | Year Ended |
|  | December 31, |
|  | 2021 |
Revenue (less agency commissions) |  | $ | 3,153 |
Net income |  | $ | 199 |
Net income attributable to common stockholders |  | $ | 147 |
Basic net income attributable to common stockholders, per share |  | $ | 1.55 |
Diluted net income attributable to common stockholders, per share |  | $ | 1.55 |

X
- Definition Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(2) -URI https://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(3) -URI https://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463 + Details
Name: | us-gaap_BusinessAcquisitionProFormaInformationTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of transactions that are recognized separately from the acquisition of assets and assumptions of liabilities in the business combination. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (e) -URI https://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463 + Details
Name: | us-gaap_BusinessCombinationSeparatelyRecognizedTransactionsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of a material business combination completed during the period, including background, timing, and recognized assets and liabilities. This table does not include leveraged buyouts. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 3 -URI https://asc.fasb.org/extlink&oid=79982066&loc=d3e1486-128463 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -URI https://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463 + Details
Name: | us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 1 -URI https://asc.fasb.org/extlink&oid=128092470&loc=d3e4845-128472 + Details
Name: | us-gaap_ScheduleOfRecognizedIdentifiedAssetsAcquiredAndLiabilitiesAssumedTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_TableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration