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Acquisitions and Dispositions (Tables) | 6 Months Ended
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Jun. 30, 2024
Acquisitions and Dispositions |
Schedule of recognized identified assets acquired and liabilities assumed | Condensed Consolidated Balance Sheet of 2024 and 2023 Acquisitions ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Acquisitions in
​ |  | 2024 |  | 2023
​ | ​ | (In thousands)
Assets Acquired: | ​ | ​ | ​ | ​ | ​ | ​
Current assets | ​ | $ | 542 |  | $ | —
Property and equipment | ​ | ​ | 1,861 |  | ​ | —
Other assets: | ​ | ​ | ​ | ​ | ​ | ​
Broadcast licenses | ​ |  | 1,211 |  | ​ | —
Goodwill | ​ |  | 1,127 |  | ​ | —
Other intangibles, deferred costs and investments | ​ |  | 1,082 |  | ​ | —
Total other assets | ​ |  | 3,420 |  | ​ | —
Total assets acquired | ​ |  | 5,823 |  | ​ | —
Liabilities Assumed: | ​ | ​ | ​ | ​ | ​ | ​
Current liabilities | ​ |  | 118 |  | ​ | —
Total liabilities assumed | ​ |  | 118 |  | ​ | —
Net assets acquired | ​ | $ | 5,705 | ​ | $ | —
Schedule of Business Acquisition, Pro Forma Information | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended | ​ | ​ | Six Months Ended
​ | ​ | June 30, |  | ​ | June 30,
​ |  | 2024 |  | 2023 |  | ​ | 2024 |  | 2023
​ | ​ | (In thousands, except per share data)
Pro forma Consolidated Results of Operations | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Net operating revenue | ​ | $ | 29,282 | ​ | $ | 29,976 | ​ | ​ | $ | 54,574 | ​ | $ | 55,987
Station operating expense | ​ |  | 24,023 | ​ |  | 23,095 | ​ | ​ |  | 47,669 | ​ |  | 45,482
Corporate general and administrative | ​ |  | 3,049 | ​ |  | 2,472 | ​ | ​ |  | 6,178 | ​ |  | 5,088
Other operating expense, net | ​ |  | 6 | ​ |  | — | ​ | ​ |  | 977 | ​ |  | 80
Operating income (loss) | ​ |  | 2,204 | ​ |  | 4,409 | ​ | ​ |  | (250) | ​ |  | 5,337
Interest expense | ​ |  | 123 | ​ |  | 122 | ​ | ​ |  | 245 | ​ |  | 244
Interest income | ​ |  | (251) | ​ |  | (347) | ​ | ​ |  | (554) | ​ |  | (636)
Other income, net | ​ |  | (1,133) | ​ |  | — | ​ | ​ |  | (1,133) | ​ |  | (119)
Income before income tax expense | ​ |  | 3,465 | ​ |  | 4,634 | ​ | ​ |  | 1,192 | ​ |  | 5,848
Income tax provision | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Current | ​ | ​ | 817 | ​ | ​ | 905 | ​ | ​ | ​ | 276 | ​ | ​ | 1,185
Deferred | ​ |  | 149 | ​ |  | 353 | ​ | ​ |  | 71 | ​ |  | 410
​ | ​ | ​ | 966 | ​ | ​ | 1,258 | ​ | ​ | ​ | 347 | ​ | ​ | 1,595
Net income | ​ | $ | 2,499 | ​ | $ | 3,376 | ​ | ​ | $ | 845 | ​ | $ | 4,253
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Earnings per share: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Basic | ​ | $ | 0.40 | ​ | $ | 0.55 | ​ | ​ | $ | 0.13 | ​ | $ | 0.69
Diluted | ​ | $ | 0.40 | ​ | $ | 0.55 | ​ | ​ | $ | 0.13 | ​ | $ | 0.69
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
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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 -Topic 805 -SubTopic 20 -Name Accounting Standards Codification -Paragraph 1 -Section 50 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479907/805-20-50-1 + Details
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