v3.10.0.1
ACQUISITIONS, DIVESTITURES AND PRO FORMA SUMMARY (Tables)
9 Months Ended
Sep. 30, 2018
Business Combinations [Abstract]  
Schedule of merger and acquisition costs
Nine Months Ended
September 30,
20182017
(amounts in thousands)
Costs to exit duplicative contracts$32$-
Workforce reduction2,338-
Lease abandonment costs257-
Other restructuring costs392-
Total restructuring charges$3,019$-

Three Months Ended
September 30,
20182017
(amounts in thousands)
Costs to exit duplicative contracts$(478)$-
Workforce reduction1,410-
Other restructuring costs(80)-
Total restructuring charges$852$-
Schedule of unaudited pro forma summary of financial information
Three Months Ended Nine Months Ended
September 30,September 30,
2018201720182017
(amounts in thousands except share and per share data)
Pro FormaPro FormaPro FormaPro Forma
Net revenues$379,933$418,902$1,061,891$1,195,338
Income (loss) from continuing operations$38,579$36,659$29,898$85,270
Income (loss) from discontinued operations$358$-$1,530$-
Net income (loss) available to the Company$38,937$36,659$31,428$85,270
Net income (loss) available to common shareholders$38,937$35,996$31,428$83,507
Income (loss) from continuing operations
per common share - basic$0.28$0.26$0.22$0.61
Income (loss) from discontinued operations
per common share - basic$-$-$0.01$-
Net income (loss) available to common shareholders
per common share - basic$0.28$0.26$0.23$0.59
Income (loss) from continuing operations
per common share - diluted$0.28$0.26$0.22$0.61
Income (loss) from discontinued operations
per common share - diluted$-$-$0.01$-
Net income (loss) available to common shareholders
per common share - diluted$0.28$0.26$0.23$0.59
Weighted shares outstanding basic138,740,243140,362,282138,901,037140,355,027
Weighted shares outstanding diluted139,102,560141,135,470139,684,890140,362,282
Conversion of preferred stock for dilutive purposes
under the as if methodNot applicableanti-dilutiveNot applicableanti-dilutive
Schedule of Restrucutring Reserve by Type
NineTwelve
Months EndedMonths Ended
September 30,December 31,
20182017
(amounts in thousands)
Restructuring charges and lease abandonment costs, beginning balance$16,086$650
Additions resulting from the integration of CBS Radio3,01915,005
Restructuring charges assumed from the Merger-1,095
Payments(12,293)(664)
Restructuring charges and lease abandonment costs unpaid and outstanding6,81216,086
Restructuring charges and lease abandonment costs - noncurrent portion(1,224)(4,413)
Restructuring charges and lease abandonment costs - current portion$5,588$11,673
CBS Radio [Member]  
Acquisition [Line Items]  
Schedule Of Acquisition Valuation [Table Text Block]
Preliminary Value
as of acquisition date
(as previouslyMeasurement
reported as of period
DescriptionDecember 31, 2017)AdjustmentAs Adjusted
(amounts in thousands)
Assets
Accounts receivable$241,548$-$241,548
Prepaid sports rights and favorable sports contracts4,160-4,160
Prepaid expenses, deposits and other20,62547621,101
Other current assets7,3501,7419,091
Total current assets273,6832,217275,900
Land112,880-112,880
Land improvements3,988(2,640)1,348
Leasehold improvements26,2559,77436,029
Buildings19,246(5,206)14,040
Furniture and fixtures10,929(6,849)4,080
Equipment and towers76,4864,92181,407
Construction in process14,598-14,598
Total tangible property264,382-264,382
Advertiser relationships27,453-27,453
Radio broadcasting licenses1,880,400-1,880,400
Goodwill820,961(6,651)814,310
Assets held for sale255,650-255,650
Favorable leases16,580-16,580
Other noncurrent assets1,0504,1765,226
Total intangible and other assets3,002,094(2,475)2,999,619
Total assets$3,540,159$(258)$3,539,901
Liabilities
Accounts payable$36,137$421$36,558
Accrued expenses35,15434435,498
Accrued salaries and benefits26,324-26,324
Current portion of long-term debt10,600-10,600
Unfavorable sports liability - current portion4,803-4,803
Accrued interest4,529-4,529
Unearned revenues - current portion14,971-14,971
Total current liabilities132,518765133,283
Unearned revenues - non-current portion13,859-13,859
Unfavorable lease liability12,770-12,770
Unfavorable sports liability - non-current portion22,597-22,597
Non-current portion of long-term debt1,376,900-1,376,900
Deferred tax liability780,832(2,949)777,883
Other long-term liabilities31,8351,92633,761
Total liabilities$2,371,311$(258)$2,371,053
Preliminary fair value of net assets acquired$1,168,848$-$1,168,848
Emmis [Member]  
Acquisition [Line Items]  
Schedule Of Acquisition Valuation [Table Text Block]
Useful Lives in Years
DescriptionApril 30, 2018FromTo
(amounts in thousands)
Assets
Equipment$1,55837
Total tangible property1,558
Advertiser relationships207515
Advertising contracts11411
Radio broadcasting licenses12,785non-amortizing
Goodwill332non-amortizing
Other noncurrent assets422
Total intangible and other assets13,442
Total assets$15,000
Preliminary fair value of assets acquired$15,000
WBEB [Member]  
Acquisition [Line Items]  
Schedule Of Acquisition Valuation [Table Text Block]
Useful Lives in Years
DescriptionSeptember 27, 2018FromTo
(amounts in thousands)
Assets
Equipment$98137
Total tangible property981
Advertising contracts47711
Radio broadcasting licenses27,346non-amortizing
Goodwill24,396non-amortizing
Net working capital3,234not applicable
Total intangible and other assets55,453
Total assets$56,434
Preliminary fair value of net assets acquired$56,434