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v3.25.3

Acquisitions and Dispositions (Tables) | 9 Months Ended
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Sep. 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 | ​ | ​ | Nine Months Ended
​ | ​ | September 30, |  | ​ | September 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 | ​ | $ | 28,166 | ​ | $ | 28,694 | ​ | ​ | $ | 80,607 | ​ | $ | 84,872
Station operating expense | ​ |  | 24,674 | ​ |  | 22,709 | ​ | ​ |  | 68,863 | ​ |  | 69,388
Corporate general and administrative | ​ |  | 2,820 | ​ |  | 2,900 | ​ | ​ |  | 9,061 | ​ |  | 8,987
Depreciation and amortization | ​ |  | 1,307 | ​ |  | 1,391 | ​ | ​ | ​ | 3,900 | ​ |  | 4,076
Other operating (income) expense, net | ​ |  | (9) | ​ |  | 49 | ​ | ​ |  | 298 | ​ |  | 1,026
Operating (loss) income | ​ |  | (626) | ​ |  | 1,645 | ​ | ​ |  | (1,515) | ​ |  | 1,395
Interest expense | ​ |  | 108 | ​ |  | 121 | ​ | ​ |  | 322 | ​ |  | 366
Interest income | ​ |  | (216) | ​ |  | (255) | ​ | ​ |  | (648) | ​ |  | (809)
Other income | ​ |  | (81) | ​ |  | (78) | ​ | ​ |  | (105) | ​ |  | (1,211)
(Loss) income before income tax expense | ​ |  | (437) | ​ |  | 1,857 | ​ | ​ |  | (1,084) | ​ |  | 3,049
Income tax (benefit) expense | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Current | ​ | ​ | 290 | ​ | ​ | 415 | ​ | ​ | ​ | 130 | ​ | ​ | 690
Deferred | ​ |  | (195) | ​ |  | 175 | ​ | ​ |  | (235) | ​ |  | 246
​ | ​ | ​ | 95 | ​ | ​ | 590 | ​ | ​ | ​ | (105) | ​ | ​ | 936
Net (loss) income | ​ | $ | (532) | ​ | $ | 1,267 | ​ | ​ | $ | (979) | ​ | $ | 2,113
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
(Loss) income per share: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Basic | ​ | $ | (0.08) | ​ | $ | 0.20 | ​ | ​ | $ | (0.15) | ​ | $ | 0.34
Diluted | ​ | $ | (0.08) | ​ | $ | 0.20 | ​ | ​ | $ | (0.15) | ​ | $ | 0.34
​

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