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Acquisitions (Tables) | 3 Months Ended
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Mar. 31, 2020
Business Combinations [Abstract] |
Schedule of Preliminary Fair Value of Assets Acquired and Liabilities Assumed | The following table summarizes the fair values of the Raycom, Cordillera and Nexstar-Tribune assets acquired and liabilities assumed at the closing dates. The allocation of purchase price for the Cordillera and Nexstar-Tribune acquisitions reflect preliminary fair values.
(in thousands) |  | Raycom |  | Cordillera |  | Nexstar- Tribune |  | Total
Accounts receivable |  | $ | — |  |  | $ | 26,264 |  |  | $ | — |  |  | $ | 26,264 |
Current portion of programming |  | — |  |  | — |  |  | 11,997 |  |  | 11,997 |
Other current assets |  | — |  |  | 986 |  |  | 3,541 |  |  | 4,527 |
Property and equipment |  | 11,721 |  |  | 53,734 |  |  | 61,909 |  |  | 127,364 |
Operating lease right-of-use assets |  | 296 |  |  | 4,667 |  |  | 82,447 |  |  | 87,410 |
Programming (less current portion) |  | — |  |  | — |  |  | 9,830 |  |  | 9,830 |
Goodwill |  | 18,349 |  |  | 254,176 |  |  | 167,322 |  |  | 439,847 |
Indefinite-lived intangible assets - FCC licenses |  | 6,800 |  |  | 26,700 |  |  | 176,000 |  |  | 209,500 |
Amortizable intangible assets: |  |  |  |  |  |  |  |
Television network affiliation relationships |  | 17,400 |  |  | 169,400 |  |  | 181,000 |  |  | 367,800 |
Advertiser relationships |  | 700 |  |  | 5,900 |  |  | 7,100 |  |  | 13,700 |
Other intangible assets |  | — |  |  | 13,000 |  |  | — |  |  | 13,000 |
Accounts payable |  | — |  |  | (15 | ) |  | — |  |  | (15 | )
Accrued expenses |  | — |  |  | (5,239 | ) |  | (4,580 | ) |  | (9,819 | )
Current portion of programming liabilities |  | — |  |  | — |  |  | (16,211 | ) |  | (16,211 | )
Other current liabilities |  | — |  |  | (280 | ) |  | (3,185 | ) |  | (3,465 | )
Operating lease liabilities |  | (296 | ) |  | (4,387 | ) |  | (79,766 | ) |  | (84,449 | )
Programming liabilities |  | — |  |  | — |  |  | (15,079 | ) |  | (15,079 | )
Net purchase price |  | $ | 54,970 |  |  | $ | 544,906 |  |  | $ | 582,325 |  |  | $ | 1,182,201 |
Schedule of Pro Forma Information | Pro forma results of operations, assuming the Cordillera and Nexstar-Tribune acquisitions had taken place at the beginning of 2019, are presented in the following table. The pro forma results do not include Raycom or Omny Studio, 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, Cordillera and Nexstar-Tribune, 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 results exclude the $1.2 million of transaction related costs that were expensed in conjunction with the acquisitions and do not include efficiencies, cost reductions or synergies expected to result from the acquisitions. The unaudited pro forma financial information is not necessarily indicative of the results that actually would have occurred had the acquisitions been completed at the beginning of the period.
(in thousands, except per share data) (unaudited) |  | Three Months Ended March 31, 2019
Operating revenues |  | $ | 384,304 |
Net loss |  | (19,930 | )
Net loss per share: |  |
Basic |  | $ | (0.25 | )
Diluted |  | (0.25 | )

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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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