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Acquisitions (Tables) | 6 Months Ended
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Jun. 30, 2018
Business Combinations [Abstract] |
Schedule of Preliminary Fair Value of Assets Acquired and Liabilities Assumed | Pending the finalization of asset valuations, the following table summarizes the preliminary fair values of the assets acquired and the liabilities assumed:
(in thousands) |  |
Assets: |  |
Cash |  | $ | 21,372 |
Accounts receivable |  | 44,306 |
Current portion of programming |  | 47,120 |
Intangible assets |  | 32,300 |
Goodwill |  | 209,572 |
Programming (less current portion) |  | 74,998 |
Other assets |  | 1,395 |
Total assets acquired |  | 431,063 |
Accounts payable and accrued liabilities |  | 29,339 |
Current portion of programming liabilities |  | 46,376 |
Programming liabilities |  | 53,036 |
Net purchase price |  | $ | 302,312 |
Schedule of Pro Forma Information | Pro forma results of operations, assuming the Katz acquisition had taken place at the beginning of 2017, are presented in the following table. The pro forma information includes the historical results of operations of Scripps and Katz, as well as adjustments for additional depreciation and amortization of the assets acquired and additional interest expense related to the financing of the transaction. The pro forma information does not include efficiencies, cost reductions or synergies expected to result from the acquisition. The unaudited pro forma financial information is not necessarily indicative of the results that actually would have occurred had the acquisition been completed at the beginning of the period.
|  | Three Months Ended June 30, |  | Six Months Ended June 30,
(in thousands, except per share data) (unaudited) |  | 2017 |  | 2017
Operating revenues |  | $ | 254,342 |  |  | $ | 487,630 |
Income from continuing operations, net of tax |  | 7,864 |  |  | 5,326 |
Income per share from continuing operations attributable to the shareholders of The E.W. Scripps Company: |  |  |  |
Basic |  | $ | 0.10 |  |  | $ | 0.06 |
Diluted |  | 0.10 |  |  | 0.06 |

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- 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/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(2)-(3) -URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463 + Details
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- 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://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=84161108&loc=d3e4845-128472 + Details
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