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Acquisitions (Tables)
 9 Months Ended
Sep. 30, 2018
Business Combinations [Abstract]  
Schedule of Preliminary Fair Value of Assets Acquired and Liabilities Assumed
The following table summarizes the fair values of the Katz assets acquired and liabilities assumed at the closing date.
(in thousands)
 
 
 
 
 
Assets:
 
 
Cash
 
$
21,372

Accounts receivable
 
44,306

Current portion of programming
 
36,218

Intangible assets
 
32,300

Goodwill
 
213,721

Programming (less current portion)
 
52,908

Other assets
 
1,395

Total assets acquired
 
402,220

Accounts payable and accrued liabilities
 
29,339

Current portion of programming liabilities
 
32,877

Programming liabilities
 
37,692

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.
 
(in thousands, except per share data) (unaudited)
 
Three Months Ended 
 September 30, 2017
 
Nine Months Ended September 30, 2017
 
 
 
 
 
 
 
 
Operating revenues
 
$
236,997

 
$
724,627

 
Loss from continuing operations, net of tax
 
(29,263
)
 
(23,937
)
 
Loss per share from continuing operations attributable to the shareholders of The E.W. Scripps Company:
 
 
 
 
 
          Basic
 
$
(0.36
)
 
$
(0.29
)
 
          Diluted
 
(0.36
)
 
(0.29
)