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Acquisitions (Tables) | 6 Months Ended
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Jun. 30, 2019
Business Combinations [Abstract] |
Schedule of Preliminary Fair Value of Assets Acquired and Liabilities Assumed | The following table summarizes the preliminary fair values of the Raycom and Cordillera assets acquired and liabilities assumed at the closing dates.
(in thousands) |  | Raycom |  | Cordillera |  | Total
Accounts receivable |  | $ | — |  |  | $ | 26,264 |  |  | $ | 26,264 |
Other current assets |  | — |  |  | 986 |  |  | 986 |
Property and equipment |  | 11,721 |  |  | 53,671 |  |  | 65,392 |
Operating lease right-of-use assets |  | 296 |  |  | 4,667 |  |  | 4,963 |
Goodwill |  | 18,349 |  |  | 253,735 |  |  | 272,084 |
Indefinite-lived intangible assets - FCC licenses |  | 6,800 |  |  | 26,500 |  |  | 33,300 |
Amortizable intangible assets: |  |  |  |  |  |
Television network affiliation relationships |  | 17,400 |  |  | 168,700 |  |  | 186,100 |
Advertiser relationships |  | 700 |  |  | 5,900 |  |  | 6,600 |
Other intangible assets |  | — |  |  | 13,000 |  |  | 13,000 |
Accounts payable |  | — |  |  | (15 | ) |  | (15 | )
Accrued expenses |  | — |  |  | (3,835 | ) |  | (3,835 | )
Other current liabilities |  | — |  |  | (280 | ) |  | (280 | )
Operating lease liabilities |  | (296 | ) |  | (4,387 | ) |  | (4,683 | )
Net purchase price |  | $ | 54,970 |  |  | $ | 544,906 |  |  | $ | 599,876 |
The following table summarizes the preliminary fair values of the Triton assets acquired and liabilities assumed at the closing date.
(in thousands) |  |
Cash |  | $ | 10,515 |
Accounts receivable |  | 8,879 |
Other current assets |  | 679 |
Property and equipment |  | 705 |
Goodwill |  | 83,876 |
Other intangible assets |  | 75,000 |
Accounts payable |  | (1,881 | )
Accrued expenses |  | (2,964 | )
Other current liabilities |  | (19 | )
Deferred tax liability |  | (14,577 | )
Net purchase price |  | $ | 160,213 |
Schedule of Pro Forma Information | Pro forma results of operations, assuming the Cordillera acquisition had taken place at the beginning of 2018, are presented in the following table. The pro forma results do not include Raycom, Omny Studio or Triton, as the impact of these acquisitions, individually or in the aggregate, is not material to prior year results of operations. The pro forma information includes the historical results of operations of Scripps and Cordillera, as well as adjustments for additional depreciation and amortization of the assets acquired, additional interest expense related to the financing of the transaction and other transactional adjustments. 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) |  | 2019 |  | 2018 |  | 2019 |  | 2018
Operating revenues |  | $ | 349,612 |  |  | $ | 324,101 |  |  | $ | 676,423 |  |  | $ | 612,882 |
Income (loss) from continuing operations attributable to the shareholders of The E.W. Scripps Company |  | (2,845 | ) |  | 6,324 |  |  | (17,636 | ) |  | (7,464 | )
Income (loss) per share from operations attributable to the shareholders of The E.W. Scripps Company: |  |  |  |  |  |  |  |
Basic |  | $ | (0.04 | ) |  | $ | 0.08 |  |  | $ | (0.22 | ) |  | $ | (0.09 | )
Diluted |  | (0.04 | ) |  | 0.08 |  |  | (0.22 | ) |  | (0.09 | )

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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://fasb.org/us-gaap/role/ref/legacyRef -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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