Acquisitions (Tables)

12 Months Ended

Dec. 31, 2020

Fair values of the assets acquired and liabilities assumed

The following table summarizes the final fair values of the Raycom, Cordillera and Nexstar-Tribune assets acquired and liabilities assumed at the closing dates.


(in thousands)	Raycom		Cordillera		Nexstar- Tribune		Total

Accounts receivable	$	—	$	26,770	$	—	$	26,770
Current portion of programming	—		—		11,997		11,997
Other current assets	—		986		3,541		4,527
Property and equipment	11,721		53,734		61,569		127,024
Operating lease right-of-use assets	296		4,667		82,447		87,410
Programming (less current portion)	—		—		9,830		9,830
Goodwill	18,349		251,681		168,196		438,226
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	—		(5,750)		(4,586)		(10,336)
Current portion of programming liabilities	—		—		(16,211)		(16,211)
Other current liabilities	—		(280)		(3,185)		(3,465)
Programming liabilities	—		—		(15,607)		(15,607)
Operating lease liabilities	(296)		(4,387)		(79,766)		(84,449)
Net purchase price	$	54,970	$	542,406	$	582,325	$	1,179,701

The following table summarizes the final 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	80,656
Other intangible assets	75,000
Accounts payable	(1,895)
Accrued expenses	(3,332)
Other current liabilities	(18)
Deferred tax liability	(10,976)
Total purchase price	$	160,213

Pro forma results of operations


	For the years ended December 31,
(in thousands, except per share data) (unaudited)	2019

Operating revenues	$	1,572,493
Income (loss) from continuing operations attributable to the shareholders of The E.W. Scripps Company	(18,657)
Income (loss) per share from continuing operations attributable to the shareholders of The E.W. Scripps Company
Basic	$	(0.23)
Diluted	(0.23)