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Acquisitions and Dispositions (Tables) | 9 Months Ended
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Sep. 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 | ​ | $ | 533 |  | $ | —
Property and equipment | ​ | ​ | 2,035 |  | ​ | —
Other assets: | ​ | ​ | ​ | ​ | ​ | ​
Broadcast licenses | ​ |  | 1,346 |  | ​ | —
Goodwill | ​ |  | 891 |  | ​ | —
Other intangibles, deferred costs and investments | ​ |  | 1,034 |  | ​ | —
Total other assets | ​ |  | 3,271 |  | ​ | —
Total assets acquired | ​ |  | 5,839 |  | ​ | —
Liabilities Assumed: | ​ | ​ | ​ | ​ | ​ | ​
Current liabilities | ​ |  | 128 |  | ​ | —
Total liabilities assumed | ​ |  | 128 |  | ​ | —
Net assets acquired | ​ | $ | 5,711 | ​ | $ | —
Schedule of Business Acquisition, Pro Forma Information | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended | ​ | ​ | Nine Months Ended
​ | ​ | September 30, |  | ​ | September 30,
​ |  | 2024 |  | 2023 |  | ​ | 2024 |  | 2023
​ | ​ | (In thousands, except per share data)
Pro forma Consolidated Results of Operations | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Net operating revenue | ​ | $ | 28,118 | ​ | $ | 29,986 | ​ | ​ | $ | 82,692 | ​ | $ | 85,973
Station operating expense | ​ |  | 23,458 | ​ |  | 23,474 | ​ | ​ |  | 71,127 | ​ |  | 68,956
Corporate general and administrative | ​ |  | 2,966 | ​ |  | 2,852 | ​ | ​ |  | 9,144 | ​ |  | 7,940
Other operating expense, net | ​ |  | 49 | ​ |  | 45 | ​ | ​ |  | 1,026 | ​ |  | 125
Operating income | ​ |  | 1,645 | ​ |  | 3,615 | ​ | ​ |  | 1,395 | ​ |  | 8,952
Interest expense | ​ |  | 121 | ​ |  | 122 | ​ | ​ |  | 366 | ​ |  | 366
Interest income | ​ |  | (255) | ​ |  | (391) | ​ | ​ |  | (809) | ​ |  | (1,027)
Other income, net | ​ |  | (78) | ​ |  | — | ​ | ​ |  | (1,211) | ​ |  | (119)
Income before income tax expense | ​ |  | 1,857 | ​ |  | 3,884 | ​ | ​ |  | 3,049 | ​ |  | 9,732
Income tax provision | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Current | ​ | ​ | 415 | ​ | ​ | 845 | ​ | ​ | ​ | 690 | ​ | ​ | 2,025
Deferred | ​ |  | 175 | ​ |  | 277 | ​ | ​ |  | 246 | ​ |  | 691
​ | ​ | ​ | 590 | ​ | ​ | 1,122 | ​ | ​ | ​ | 936 | ​ | ​ | 2,716
Net income | ​ | $ | 1,267 | ​ | $ | 2,762 | ​ | ​ | $ | 2,113 | ​ | $ | 7,016
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Earnings per share: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Basic | ​ | $ | 0.20 | ​ | $ | 0.45 | ​ | ​ | $ | 0.34 | ​ | $ | 1.15
Diluted | ​ | $ | 0.20 | ​ | $ | 0.45 | ​ | ​ | $ | 0.34 | ​ | $ | 1.15
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
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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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