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Fair Value Measurements (Tables) | 12 Months Ended
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Dec. 31, 2024
Fair Value Disclosures [Abstract] |
Fair Value of Assets and Liabilities Measured on Recurring and Nonrecurring Basis | The following table presents the Company’s financial assets and liabilities measured at fair value on a recurring and nonrecurring basis in the consolidated balance sheets (in millions):
|  | December 31, 2024 |
|  | Total Fair Value and Carrying Value on Balance Sheet |  |  | Fair Value Measurement Category |  |  |  |
Recurring fair value measurements |  |  |  |  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total Gains (Losses) |
Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Money market account |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  |  |
Corporate bonds and notes |  | $ | 4.7 |  |  |  |  |  |  | $ | 4.7 |  |  | $ |  |  |  |  |
Nonrecurring fair value measurements: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
FCC licenses |  | $ | 93.5 |  |  |  | — |  |  |  | — |  |  | $ | 93.5 |  | $ | (17.9 | )
|  | December 31, 2023 |
|  | Total Fair Value and Carrying Value on Balance Sheet |  |  | Fair Value Measurement Category |  |  |  |
Recurring fair value measurements |  |  |  |  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total Gains (Losses) |
Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Money market account |  | $ | 1.1 |  |  | $ | 1.1 |  |  | $ | — |  |  | $ | — |  |  |  |
Corporate bonds and notes |  | $ | 13.2 |  |  |  |  |  |  | $ | 13.2 |  |  | $ |  |  |  |  |
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Contingent consideration |  | $ | 3.9 |  |  | $ | — |  |  |  | — |  |  | $ | 3.9 |  |  |  |
Nonrecurring fair value measurements: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
FCC licenses |  | $ | 27.6 |  |  |  | — |  |  |  | — |  |  | $ | 27.6 |  | $ | (12.3 | )
Summary of Changes in Contingent Consideration | The following table presents the changes in the contingent consideration (in millions):
| Year Ended December 31, |
| 2024 |  |  | 2023 |
Beginning balance | $ | 3.9 |  |  | $ | 2.2 |
Additions from acquisitions (dispositions) |  | - |  |  |  | 1.6 |
Payments to sellers |  | (3.3 | ) |  |  | (0.7 | )
(Gain) loss recognized in earnings |  | (0.6 | ) |  |  | 0.8 |
Ending balance | $ | - |  |  | $ | 3.9 |
Summary of Amortized Cost and Unrealized (Gains) Losses of Available for Sale Securities | As of December 31, 2024, the following table summarizes the amortized cost and the unrealized (gains) losses of the available for sale securities (in thousands):
|  | Corporate Bonds and Notes |
|  | Amortized Cost |  |  | Unrealized gains (losses) |
Due within a year |  | $ | 900 |  |  | $ | (8 | )
Due after one year |  |  | 3,812 |  |  |  | (10 | )
Total |  | $ | 4,712 |  |  | $ | (18 | )

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