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v3.25.2

Acquisitions and Dispositions (Tables) | 6 Months Ended
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Jun. 30, 2025
Acquisitions and Dispositions |
Schedule of the key assumptions used in the discounted cash flow analysis for the fair value of the FCC license | ​
​ ​ ​ | ​ | ​ | ​
Discount rate |  | 9.5 | %
Operating profit margin ranges |  | 27.5 | %
Market long-term revenue growth rates |  | 0.5 | %
Schedule of recognized identified assets acquired and liabilities assumed | Condensed Consolidated Balance Sheet of 2025 and 2024 Acquisitions ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Acquisitions in
​ |  | 2025 |  | 2024
​ | ​ | (In thousands)
Assets Acquired: | ​ | ​ | ​ | ​ | ​ | ​
Current assets | ​ | $ | — |  | $ | 534
Property and equipment | ​ | ​ | — |  | ​ | 2,035
Other assets: | ​ | ​ | ​ | ​ | ​ | ​
Broadcast licenses | ​ |  | — |  | ​ | 2,150
Goodwill | ​ |  | — |  | ​ | 76
Other intangibles, deferred costs and investments | ​ |  | — |  | ​ | 1,044
Total other assets | ​ |  | — |  | ​ | 3,270
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 | ​ | ​ | Six Months Ended
​ | ​ | June 30, |  | ​ | June 30,
​ |  | 2025 |  | 2024 |  | ​ | 2025 |  | 2024
​ | ​ | (In thousands, except per share data) | ​ | ​ | (In thousands, except per share data)
Pro forma Consolidated Results of Operations | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Net operating revenue | ​ | $ | 28,229 | ​ | $ | 30,256 | ​ | ​ | $ | 52,441 | ​ | $ | 56,178
Station operating expense | ​ |  | 22,226 | ​ |  | 23,692 | ​ | ​ |  | 44,189 | ​ |  | 46,679
Corporate general and administrative | ​ |  | 3,074 | ​ |  | 3,004 | ​ | ​ |  | 6,241 | ​ |  | 6,087
Depreciation and amortization | ​ |  | 1,267 | ​ |  | 1,350 | ​ | ​ | ​ | 2,593 | ​ |  | 2,685
Other operating expense (income), net | ​ |  | 253 | ​ |  | 6 | ​ | ​ |  | 307 | ​ |  | 977
Operating income (loss) | ​ |  | 1,409 | ​ |  | 2,204 | ​ | ​ |  | (889) | ​ |  | (250)
Interest expense | ​ |  | 107 | ​ |  | 123 | ​ | ​ |  | 214 | ​ |  | 245
Interest income | ​ |  | (210) | ​ |  | (251) | ​ | ​ |  | (432) | ​ |  | (554)
Other income, net | ​ |  | (1) | ​ |  | (1,133) | ​ | ​ |  | (24) | ​ |  | (1,133)
Income (loss) before income tax expense | ​ |  | 1,513 | ​ |  | 3,465 | ​ | ​ |  | (647) | ​ |  | 1,192
Income tax (benefit) expense | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Current | ​ | ​ | 510 | ​ | ​ | 816 | ​ | ​ | ​ | (160) | ​ | ​ | 275
Deferred | ​ |  | (125) | ​ |  | 149 | ​ | ​ |  | (40) | ​ |  | 71
​ | ​ | ​ | 385 | ​ | ​ | 965 | ​ | ​ | ​ | (200) | ​ | ​ | 346
Net income (loss) | ​ | $ | 1,128 | ​ | $ | 2,500 | ​ | ​ | $ | (447) | ​ | $ | 846
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Income (loss) per share: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Basic | ​ | $ | 0.18 | ​ | $ | 0.40 | ​ | ​ | $ | (0.07) | ​ | $ | 0.13
Diluted | ​ | $ | 0.18 | ​ | $ | 0.40 | ​ | ​ | $ | (0.07) | ​ | $ | 0.13
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
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