Mission Broadcasting 10-Q 14 May 18 2018 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2018	May 11, 2018
Document And Entity Information [Abstract]
Entity Registrant Name	MISSION BROADCASTING INC
Entity Central Index Key	1,142,412
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	No
Entity Filer Category	Non-accelerated Filer
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q1
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2018
Entity Common Stock, Shares Outstanding		1,000

CONDENSED BALANCE SHEETS (Unaud

CONDENSED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Current assets:
Cash and cash equivalents	$ 4,056	$ 9,524
Accounts receivable, net of allowance for doubtful accounts of $151 and $128, respectively	14,809	14,717
Due from Nexstar Broadcasting, Inc.	90,000	92,920
Prepaid expenses and other current assets	1,216	2,070
Total current assets	110,081	119,231
Property and equipment, net	18,095	18,454
Goodwill	33,187	33,187
FCC licenses	43,102	43,102
Other intangible assets, net	15,297	15,841
Deferred tax assets, net	2,514	1,508
Other noncurrent assets, net	648	1,137
Total assets	222,924	232,460
Current liabilities:
Current portion of debt	2,314	2,314
Current portion of broadcast rights payable	267	986
Accounts payable	2,166	1,090
Accrued expenses	5,877	11,622
Other current liabilities	628	702
Total current liabilities	11,252	16,714
Debt	223,040	223,428
Other noncurrent liabilities	7,071	7,626
Total liabilities	241,363	247,768
Commitments and contingencies (Note 9)
Shareholders' deficit:
Common stock - $1 par value, 1,000 shares authorized, issued and outstanding as of each of March 31, 2018 and December 31, 2017	1	1
Subscription receivable	(1)	(1)
Accumulated deficit	(18,439)	(15,308)
Total shareholders' deficit	(18,439)	(15,308)
Total liabilities and shareholders' deficit	$ 222,924	$ 232,460

CONDENSED BALANCE SHEETS (Unau3

CONDENSED BALANCE SHEETS (Unaudited) (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Current assets:
Accounts receivable, allowance for doubtful accounts	$ 151	$ 128
Shareholders' deficit:
Common stock, par value (in dollars per share)	$ 1	$ 1
Common stock, shares authorized (in shares)	1,000	1,000
Common stock, shares issued (in shares)	1,000	1,000
Common stock, shares outstanding (in shares)	1,000	1,000

CONDENSED STATEMENTS OF OPERATI

CONDENSED STATEMENTS OF OPERATIONS (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Income Statement [Abstract]
Net broadcast revenue	$ 16,102	$ 17,907
Revenue from Nexstar Broadcasting, Inc.	8,483	8,788
Net revenue	24,585	26,695
Operating expenses:
Direct operating expenses, excluding depreciation and amortization	10,147	8,999
Selling, general and administrative expenses, excluding depreciation and amortization	1,216	959
Fees incurred pursuant to local service agreements with Nexstar Broadcasting, Inc.	13,250	4,500
Amortization of broadcast rights	412	1,398
Amortization of intangible assets	544	605
Depreciation	517	588
Total operating expenses	26,086	17,049
(Loss) income from operations	(1,501)	9,646
Interest expense	(2,611)	(2,650)
Loss on extinguishment of debt		(2,133)
(Loss) income before income taxes	(4,112)	4,863
Income tax benefit (expense)	981	(1,881)
Net (loss) income	$ (3,131)	$ 2,982

CONDENSED STATEMENTS OF CASH FL

CONDENSED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Cash flows from operating activities:
Net (loss) income	$ (3,131)	$ 2,982
Adjustments to reconcile net income to net cash provided by operating activities:
Deferred income taxes	(1,006)	1,615
Provision for bad debt	24	21
Depreciation of property and equipment	517	588
Amortization of intangible assets	544	605
Amortization of debt financing costs and debt discount	193	174
Amortization of broadcast rights, excluding barter	412	404
Payments for broadcast rights	(422)	(418)
Deferred gain recognition	(49)	(50)
Loss on extinguishment of debt		2,133
Changes in operating assets and liabilities, net of acquisitions:
Accounts receivable	(116)	(2,778)
Prepaid expenses and other current assets	142	(102)
Other noncurrent assets	(3)	5
Accounts payable, accrued expenses and other current liabilities	(4,071)	2,336
Other noncurrent liabilities	(14)	(83)
Due from Nexstar Broadcasting, Inc.	2,920	(11,640)
Net cash used in operating activities	(4,060)	(4,208)
Cash flows from investing activities:
Purchases of property and equipment	(830)	(74)
Payment for acquisition		(800)
Net cash used in investing activities	(830)	(874)
Cash flows from financing activities:
Proceeds from issuance of long-term debt		230,840
Repayments of long-term debt	(578)	(225,892)
Payments for debt financing costs		(3,779)
Net cash (used in) provided by financing activities	(578)	1,169
Net decrease in cash and cash equivalents	(5,468)	(3,913)
Cash and cash equivalents at beginning of period	9,524	6,474
Cash and cash equivalents at end of period	4,056	2,561
Supplemental information:
Interest paid	$ 2,306	3,156
Income taxes paid, net of refunds		$ 417

Organization and Business Opera

Organization and Business Operations	3 Months Ended
	Mar. 31, 2018
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Organization and Business Operations	1. Organization and Business Operations As of March 31, 2018, Mission Broadcasting, Inc. (“Mission” or the “Company”) owned and operated 19 full power television stations, affiliated with the NBC, ABC, CBS, FOX and The CW television networks, in 18 markets located in the states of Arkansas, Colorado, Illinois, Indiana, Louisiana, Missouri, Montana, New York, Pennsylvania, Texas and Vermont Through local service agreements, Nexstar Broadcasting, Inc., a subsidiary of Nexstar Media Group, Inc. (collectively “Nexstar”), provides sales and operating services to all of the Mission television stations (see Note 3). The Company is highly leveraged, which makes it vulnerable to changes in general economic conditions. The Company’s ability to repay or refinance its debt will depend on, among other things, financial, business, market, competitive and other conditions, many of which are beyond its control, as well as Nexstar maintaining its pledge to continue the local service agreements with the Company’s stations. Management believes that with Nexstar’s pledge to continue the local service agreements as described in a letter of support dated March 23, 2018 Nexstar’s senior secured credit agreement contains a covenant which requires Nexstar to comply with a maximum consolidated first lien net leverage ratio of 4.50 to 1.00. The financial covenant, which is formally calculated on a quarterly basis, is based on the combined results of Nexstar and its variable interest entities, including Mission. Mission’s credit agreement does not contain financial covenant ratio requirements, but does provide for default in the event Nexstar does not comply with all covenants contained in its credit agreement. As of March 31, 2018, Nexstar has informed Mission that it was in compliance with all covenants contained in its credit agreement and the indentures governing its senior unsecured notes.

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2018
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	2. Summary of Significant Accounting Policies Interim Financial Statements The Condensed Financial Statements as of March 31, 2018 and for the three months ended March 31, 2018 and 2017 are unaudited. However, in the opinion of management, such financial statements include all adjustments (consisting solely of normal recurring adjustments) necessary for the fair statement of the financial information included herein in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”). The preparation of the Condensed Consolidated Financial Statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and reported amounts of revenue and expenses during the period. Actual results could differ from those estimates. Results of operations for interim periods are not necessarily indicative of results for the full year. These Condensed Financial Statements should be read in conjunction with the Financial Statements and related Notes included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2017. The balance sheet as of December 31, 2017 has been derived from the audited Financial Statements as of that date, but does not include all the information and footnotes required by U.S. GAAP for complete financial statements. Revenue Recognition As discussed in Recent Accounting Pronouncements below, the Company adopted the Financial Accounting Standards Board (the “FASB”) issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606) (“ASC 606”) and all related amendments. ASC 606 establishes a comprehensive new revenue recognition model designed to depict the transfer of goods or services to a customer in an amount that reflects the consideration the entity expects to be entitled to receive in exchange for those goods or services and requires significantly enhanced revenue disclosures. The Company adopted this standard effective January 1, 2018 using the modified retrospective method as applied to customer contracts that were not completed as of January 1, 2018. As a result, financial information for reporting periods beginning on or after January 1, 2018 is presented under ASC 606, while comparative financial information has not been adjusted and continues to be reported in accordance with the Company’s historical accounting policy for revenue recognition prior to the adoption of ASC 606. The Company’s revenue is primarily derived from the sale of advertising by Nexstar under the joint sales agreements (“JSAs”), and the compensation received from multichannel video programming distributors (“MVPDs”) in its markets in return for the Company’s consent to the retransmission of the signals of its television stations. Total revenue includes revenue from Nexstar, retransmission compensation, and other broadcast related revenues. The Company determines whether gross or net presentation is appropriate based on its relationship in the applicable transaction with its ultimate customer. Any amounts paid by customers but not earned as of the balance sheet date are recorded as a contract liability (deferred revenue). The lag between billing the customers and when the payment is due is not significant. Revenue from Nexstar is directly correlated to the advertising revenue earned at the Company’s stations and is recognized, for the amount the Company is entitled to receive, when the television advertising spots are sold by Nexstar and the advertisements are broadcast on Mission stations or delivered on Mission’s television station websites. Television advertising contracts are short-term in nature. The Company’s retransmission consent agreements with MVPDs generally have a three-year term and provides revenue based on the number of subscribers. Under ASC 606, these revenues are considered arising from licenses of intellectual property. As such, the Company applied the exception for sales- or usage-based royalty for the accounting of variable consideration and recognizes revenues when the underlying usage occurs. Retransmission compensation is recognized as the content is transferred to the MVPDs and is based on a price per subscriber. The MVPDs report their subscriber numbers to the Company on a 30- to 60-day lag, which coincides with their payment of the fees due to the Company. Prior to receiving the report from the MVPDs, the Company records revenue based on estimated subscribers and the monthly amount the Company is entitled to receive per subscriber. The impact of the lag is not significant. The above revenue recognition policies are consistent with the Company’s historical accounting policies prior to the adoption of ASC 606. Effective on January 1, 2018, the Company no longer recognizes barter revenue (and the related barter expense) resulting from the exchange of advertising time for certain program material. During the three months ended March 31, 2017, both barter revenue and barter expense were $1.0 million. The barter expense was included in amortization of broadcast rights in the accompanying Condensed Consolidated Statement of Operations. Under the Company’s historical accounting policy prior to the adoption of ASC 606, barter revenue and barter expense would have been $1.0 million and $1.0 million, respectively, during the three months ended March 31, 2018. In addition, the current barter assets (and the related current barter liabilities) would have been $0.5 million, and the noncurrent barter assets (and the related noncurrent barter liabilities) would have been $0.4 million as of March 31, 2018. The Company elected to utilize the practical expedient around costs incurred to obtain a contract due to their short-term nature. Additionally, the incremental benefit from efforts in acquiring these contracts is considered not significant. Thus, the Company continued to expense sales commissions when incurred. The Company did not disclose the value of unsatisfied performance obligations on its contracts with customers because they are either (i) contracts with an original expected term of one year or less, or (ii) contracts for which the sales- or usage-based royalty exception was applied. See Note 7 for additional disclosures on revenue from contracts with customers. Financial Instruments The carrying amounts of cash and cash equivalents, accounts receivable, broadcast rights payable, accounts payable and accrued expenses approximate fair value due to their short-term nature. See Note 6 for fair value disclosures related to the Company’s debt. Basis of Presentation Certain prior year financial statement amounts have been reclassified to conform to the current year presentation. These reclassifications had no effect on net income or shareholders’ deficit as previously reported. Recent Accounting Pronouncements New Accounting Standards Adopted In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606) and all related amendments. The Company adopted this standard effective January 1, 2018 using the modified retrospective method as applied to customer contracts that were not completed as of January 1, 2018. Upon adoption of this standard, the cumulative adjustment to the Company’s retained earnings as of January 1, 2018 for the cumulative effect of initially applying the new standard is not material. In August 2016, the FASB issued ASU No. 2016-15, Statement of Cash Flows (Topic 230) Classification of Certain Cash Receipts and Cash Payments (a consensus of the Emerging Issues Task Force) (ASU 2016-15). The amendments in ASU 2016-15 address eight specific cash flow issues and apply to all entities that are required to present a statement of cash flows under FASB Accounting Standards Codification 230, Statement of Cash Flows. The amendments in ASU 2016-15 are effective for fiscal years, and interim periods within those years, beginning after December 15, 2017. The Company has applied the change in accounting as of January 1, 2018. In January 2017, the FASB issued ASU No. 2017-01, Business Combinations (Topic 805): Clarifying the Definition of a Business (ASU 2017-01). ASU 2017-01 provides clarification on the definition of a business and adds guidance to assist entities with evaluating whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. To be considered a business under the new guidance, it must include an input and a substantive process that together significantly contribute to the ability to create output. The amendment removes the evaluation of whether a market participant could replace missing elements. The amendments in this update are effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years, and will be applied prospectively. The Company has applied this change in accounting as of January 1, 2018. New Accounting Standards Not Yet Adopted In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842) (“ASU 2016-02”). This new guidance requires the recording of assets and liabilities arising from leases on the balance sheet accompanied by enhanced qualitative and quantitative disclosures in the notes to the financial statements. ASU 2016-02 is expected to provide transparency of information and comparability among organizations. In January 2018, the FASB issued ASU No. 2018-01 to address the accounting treatment of land easements within the context of ASU No. 2016-02, Leases (Topic 842). ASU 2018-01 provides an optional transition practical expedient to not evaluate under Topic 842 existing or expired land easements that were not previously accounted for as leases under the current leases guidance in Topic 840. ASU 2016-02 is effective for interim and annual reporting periods beginning after December 15, 2018, with early adoption permitted. The Company is currently evaluating the impact of the provisions of ASU 2018-01. In June 2016, the FASB issued ASU No. 2016-13, “Financial Instruments - Credit Losses (Topic 326).” The standard requires entities to estimate loss of financial assets measured at amortized cost, including trade receivables, debt securities and loans, using an expected credit loss model. The expected credit loss differs from the previous incurred losses model primarily in that the loss recognition threshold of “probable” has been eliminated and that expected loss should consider reasonable and supportable forecasts in addition to the previously considered past events and current conditions. Additionally, the guidance requires additional disclosures related to the further disaggregation of information related to the credit quality of financial assets by year of the asset’s origination for as many as five years. Entities must apply the standard provision as a cumulative-effect adjustment to retained earnings as of the beginning of the first reporting period in which the guidance is effective. The standard is effective for fiscal years beginning after December 15, 2019, and interim periods within those fiscal years. Early adoption is permitted for annual periods beginning after December 15, 2018, and interim periods within those fiscal years. The Company is currently evaluating the impact of adopting ASU 2016-13 on its financial statements.

Local Service Agreements with N

Local Service Agreements with Nexstar	3 Months Ended
	Mar. 31, 2018
Local Service Agreements [Abstract]
Local Service Agreements with Nexstar	3. Local Service Agreements with Nexstar The Company has entered into local service agreements with Nexstar to provide sales and/or operating services to all of its stations. For the stations with a shared services agreement (“SSA”), the Nexstar station in the market provides certain services including news production, technical maintenance and security, in exchange for monthly payments to Nexstar. For each station with which the Company has entered into a SSA, it has also entered into a JSA, whereby Nexstar sells certain advertising time of the station and retains a percentage of the related revenue. For the stations with a time brokerage agreement (“TBA”), Nexstar programs most of the station’s broadcast time, sells the station’s advertising time and retains the advertising revenue it generates in exchange for monthly payments to Mission, based on the station’s monthly operating expenses. JSA and TBA fees generated from Nexstar under the agreements are reported as “Revenue from Nexstar Broadcasting, Inc.,” and SSA fees incurred by Mission under the agreements are reported as “Fees incurred pursuant to local service agreements with Nexstar Broadcasting, Inc.” in the accompanying Condensed Statements of Operations. Under these agreements, Mission is responsible for certain operating expenses of its stations and therefore may have unlimited exposure to any potential operating losses. Mission will continue to operate its stations under the SSAs and JSAs or TBAs until the termination of such agreements. The local service agreements generally have a term of eight to ten years and have terms for renewal periods. Nexstar indemnifies Mission from Nexstar’s activities pursuant to the local service agreements. Under the local service agreements, Nexstar receives substantially all of the Company’s available cash, after satisfaction of operating costs and debt obligations. The Company anticipates that Nexstar will continue to receive substantially all of its available cash, after satisfaction of operating costs and debt obligations. In compliance with FCC regulations for both the Company and Nexstar, Mission maintains complete responsibility for and control over programming, finances, personnel and operations of its stations. Mission had the following local service agreements in effect with Nexstar as of March 31, 2018: Service Agreements Full Power Stations TBA Only WFXP, KHMT and KFQX SSA & JSA KJTL, KLRT, KASN, KOLR, KCIT, KAMC, KRBC, KSAN, WUTR, WAWV, WYOU, KODE, WTVO, KTVE, WTVW and WVNY

Intangible Assets and Goodwill

Intangible Assets and Goodwill	3 Months Ended
	Mar. 31, 2018
Goodwill And Intangible Assets Disclosure [Abstract]
Intangible Assets and Goodwill	4. Intangible Assets and Goodwill Intangible assets subject to amortization consisted of the following (in thousands): Estimated March 31, 2018 December 31, 2017 useful life, Accumulated Accumulated in years Gross Amortization Net Gross Amortization Net Network affiliation agreements 15 $ 86,248 $ (71,662 ) $ 14,586 $ 86,248 $ (71,150 ) $ 15,098 Other definite-lived intangible assets 1-15 15,681 (14,970 ) 711 15,681 (14,938 ) 743 Other intangible assets $ 101,929 $ (86,632 ) $ 15,297 $ 101,929 $ (86,088 ) $ 15,841 The following table presents the Company’s estimate of amortization expense for the remainder of 2018, each of the five succeeding years ended December 31 and thereafter for definite-lived intangible assets as of March 31, 2018 (in thousands): Remainder of 2018 $ 1,585 2019 1,919 2020 1,518 2021 1,517 2022 1,517 2023 1,444 Thereafter 5,797 $ 15,297 The carrying amounts of goodwill and FCC licenses were as follows (in thousands): Goodwill FCC Licenses Accumulated Accumulated Gross Impairment Net Gross Impairment Net Balances as of December 31, 2017 $ 34,737 $ (1,550 ) $ 33,187 $ 53,799 $ (10,697 ) $ 43,102 Balances as of March 31, 2018 $ 34,737 $ (1,550 ) $ 33,187 $ 53,799 $ (10,697 ) $ 43,102 Indefinite-lived intangible assets are not subject to amortization, but are tested for impairment annually or whenever events or changes in circumstances indicate that such assets might be impaired. During the three months ended March 31, 2018, the Company did not identify any events that would trigger an impairment assessment.

Accrued Expenses

Accrued Expenses	3 Months Ended
	Mar. 31, 2018
Payables And Accruals [Abstract]
Accrued Expenses	5. Accrued Expenses Accrued expenses consisted of the following (in thousands): March 31, December 31, 2018 2017 Network affiliation fees $ 3,669 $ 8,823 Other 2,208 2,799 $ 5,877 $ 11,622

Debt

Debt	3 Months Ended
	Mar. 31, 2018
Debt Disclosure [Abstract]
Debt	6. Debt Long-term debt consisted of the following (in thousands): March 31, December 31, 2018 2017 Term loans, net of financing costs and discount of $4,909 and $5,099, respectively $ 225,354 $ 225,742 Less: current portion (2,314 ) (2,314 ) $ 223,040 $ 223,428 2018 Transactions Through March 31, 2018, Mission repaid scheduled maturities of $0.6 million under its Term Loan B, funded by cash on hand. Unused Commitments and Borrowing Availability As of March 31, 2018, the Company had $3.0 million unused revolving loan commitment under its senior secured credit facility, all of which was available for borrowing, based on the covenant calculations. Pursuant to the terms of the Company’s and Nexstar’s credit agreements, the Company may reallocate any of its unused revolving loan commitment to Nexstar and Nexstar may also reallocate certain of its unused revolving loan commitment to the Company Collateralization and Guarantees of Debt Nexstar guarantees full payment of all obligations under the Mission senior secured credit facility in the event of Mission’s default. Similarly, Mission is a guarantor of Nexstar’s senior secured credit facility, the $900.0 million 5.625% senior unsecured notes (the “5.625% Notes”) and the $275.0 million 6.125% senior unsecured notes (the “6.125% Notes”) issued by Nexstar. The senior secured credit facilities are collateralized by a security interest in substantially all the combined assets, excluding FCC licenses, of the Company and Nexstar. The 5.625% Notes and the 6.125% Notes are general senior unsecured obligations subordinated to all of Mission’s senior secured debt. In the event that Nexstar is unable to repay amounts due under these debt obligations, the Company will be obligated to repay such amounts. The maximum potential amount of future payments that Mission would be required to make under these guarantees would be generally limited to the amount of borrowings outstanding under Nexstar’s senior secured credit facility, the 5.625% Notes, and the 6.125% Notes. As of March 31, 2018, Nexstar had $886.9 million of outstanding obligations under its 5.625% Notes, $273.1 million outstanding obligations under its 6.125% Notes and a maximum commitment of $2.616 billion under its senior secured credit facility, of which $1.744 billion in Term Loan B, $702.2 million in Term Loan A, and $20.0 million in revolving loans were outstanding. Debt Covenants The Mission term loan does not require financial covenant ratios but does provide for default in the event Nexstar does not comply with all covenants contained in its credit agreement. Nexstar was in compliance with its financial covenants as of March 31, 2018 . Fair Value of Debt The aggregate carrying amounts and estimated fair values of the Company’s debt were as follows (in thousands): March 31, 2018 December 31, 2017 Carrying Fair Carrying Fair Amount Value Amount Value Term loans $ 225,354 $ 231,063 $ 225,742 $ 231,580 The fair values of the term loans are computed based on borrowing rates currently available to Mission for bank loans with similar terms and average maturities. These fair value measurements are considered Level 3, as significant inputs to the fair value calculation are unobservable in the market.

Revenue

Revenue	3 Months Ended
	Mar. 31, 2018
Revenue From Contract With Customer [Abstract]
Revenue	7. Revenue As discussed in Note 2, the Company adopted the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606) and all related amendments. ASC 606 establishes a comprehensive new revenue recognition model designed to depict the transfer of goods or services to a customer in an amount that reflects the consideration the entity expects to be entitled to receive in exchange for those goods or services and requires significantly enhanced revenue disclosures. The Company adopted this standard effective January 1, 2018 using the modified retrospective method as applied to customer contracts that were not completed as of January 1, 2018. As a result, financial information for reporting periods beginning after January 1, 2018 is presented under ASC 606, while comparative financial information has not been adjusted and continues to be reported in accordance with the Company’s historical accounting policy for revenue recognition prior to the adoption of ASC 606. Upon adoption of this standard, the cumulative adjustment to the Company’s retained earnings as of January 1, 2018 for the cumulative effect of initially applying the new standard is not material. Comparative information has not been restated and continues to be reported under the accounting standards in effect for those periods. The following are additional disclosures about the Company’s revenue under ASC 606. Contract Balance Contract balances typically arise when a difference in timing between the transfer of control to the customer and receipt of consideration occurs. As of each of March 31, 2018 and January 1, 2018, the Company had no contract balances. Disaggregation of Revenues The following table presents the disaggregation of our revenue for first quarter 2018 under ASC 606. First quarter 2017 revenues are presented in accordance with the Company’s historical accounting standard prior to the adoption of ASC 606 (in thousands): Three Months Ended March 31, 2018 2017 Retransmission compensation $ 15,904 $ 16,793 Other 198 120 Barter revenue - 994 Revenue from Nexstar 8,483 8,788 Net revenue $ 24,585 $ 26,695 Revenue from Nexstar is directly corelated to the advertising revenue earned at the Company’s station and is positively affected by national and regional political campaigns, and certain events such as the Olympic Games or the Super Bowl. Company stations’ advertising revenue is generally highest in the second and fourth quarters of each year, due in part to increases in consumer advertising in the spring and retail advertising in the period leading up to, and including, the holiday season. In addition, advertising revenue is generally higher during even-numbered years when congressional and presidential elections occur, and advertising is aired during the Olympic Games. The Company receives compensation from MVPDs in return for the consent to the retransmission of the signals of its television stations. Retransmission compensation is recognized at the point in time the content is transferred to the MVPDs and is based on Beginning in the first quarter of 2018, the Company no longer recognizes barter revenue (and the related barter expense) resulting from the exchange of advertising time for certain program material. During the three months ended March 31, 2017, the Company recognized barter revenue (and barter expense) of $1.0 million.

FCC Regulatory Matters

FCC Regulatory Matters	3 Months Ended
	Mar. 31, 2018
Risks And Uncertainties [Abstract]
FCC Regulatory Matters	8. FCC Regulatory Matters Television broadcasting is subject to the jurisdiction of the FCC under the Communications Act of 1934, as amended (the “Communications Act”). The Communications Act prohibits the operation of television broadcasting stations except under a license issued by the FCC, and empowers the FCC, among other things, to issue, revoke and modify broadcasting licenses, determine the location of television stations, regulate the equipment used by television stations, adopt regulations to carry out the provisions of the Communications Act and impose penalties for the violation of such regulations. The FCC’s ongoing rule making proceedings could have a significant future impact on the television industry and on the operation of the Company’s stations. In addition, the U.S. Congress may act to amend the Communications Act or adopt other legislation in a manner that could impact the Company’s stations and the television broadcast industry in general. The FCC has adopted rules with respect to the final conversion of existing low power and television translator stations to digital operations, which must be completed in July 2021. Media Ownership The FCC is required to review its media ownership rules every four years and to eliminate those rules it finds no longer serve the “public interest, convenience and necessity.” In August 2016, the FCC adopted a Second Report and Order (the “2016 Ownership Order”) concluding the agency’s 2010 and 2014 quadrennial reviews. The 2016 Ownership Order (1) retained the then-existing local television ownership rule and radio/television cross-ownership rule with minor technical modifications, (2) extended the ban on common ownership of two top four television stations in a market to network affiliation swaps, (3) retained the then-existing ban on newspaper/broadcast cross-ownership in local markets while considering waivers and providing an exception for failed or failing entities, (4) retained the dual network rule, (5) made JSA relationships attributable interests and (6) defined a category of sharing agreements designated as SSAs between stations and required public disclosure of those SSAs (while not considering them attributable). The 2016 Ownership Order reinstated a rule that attributed another in-market station toward the local television ownership limits when one station owner sells more than 15% of the second station’s weekly advertising inventory under a JSA (this rule had been previously adopted in 2014, but was vacated by the U.S. Court of Appeals for the Third Circuit). Parties to JSAs entered into prior to March 31, 2014 were permitted to continue to operate under those JSAs until September 30, 2025. Various parties filed petitions seeking reconsideration of various aspects of the 2016 Ownership Order. On November 16, 2017, the FCC adopted an order (the “Reconsideration Order”) addressing the petitions for reconsideration. The Reconsideration Order (1) eliminated the rules prohibiting newspaper/broadcast cross-ownership and limiting television/radio cross-ownership, (2) eliminated the requirement that eight or more independently-owned television stations remain in a local market for common ownership of two television stations in that market to be permissible, (3) retained the general prohibition on common ownership of two “top four” stations in a local market but provided for case-by-case review, (4) eliminated the television JSA attribution rule, and (5) retained the SSA definition and disclosure requirement for television stations. These rule modifications took effect on February 7, 2018, when the U.S. Court of Appeals for the Third Circuit denied a mandamus petition which had sought to stay their effectiveness. The Reconsideration Order remains subject to appeals before the Third Circuit. On February 3, 2017, the FCC terminated in full its guidance (issued on March 12, 2014) requiring careful scrutiny of broadcast television applications which propose sharing arrangements and contingent interests. Accordingly, the FCC no longer evaluates whether options, loan guarantees and similar otherwise non-attributable interests create undue financial influence in transactions which also include sharing arrangements between television stations. The FCC’s media ownership rules limit the percentage of U.S. television households which a party may reach through its attributable interests in television stations to 39% on a nationwide basis. Historically, the FCC has counted the ownership of an ultra-high frequency (“UHF”) station as reaching only 50% of a market’s percentage of total national audience. On August 24, 2016, the FCC adopted a Report and Order abolishing the UHF discount for the purposes of a licensee’s determination of compliance with the 39% national cap, and that rule change became effective in October 2016. On April 20, 2017, the FCC adopted an order on reconsideration that reinstated the UHF discount. That order stated that the FCC would launch a comprehensive rulemaking later in 2017 to evaluate the UHF discount together with the national ownership limit. The FCC initiated that proceeding in December 2017, and comments and reply comments have been filed in the first and second quarters of 2018. The FCC’s April 2017 reinstatement of the UHF discount became effective on June 15, 2017. A petition for review of the FCC’s order reinstating the UHF discount remains pending in a federal appeals court. Mission is in compliance with the 39% national cap limitation without the UHF discount and, therefore, with the UHF discount as well. Spectrum The FCC is in the process of repurposing a portion of the broadcast television spectrum for wireless broadband use. Pursuant to federal legislation enacted in 2012, the FCC has conducted an incentive auction for the purpose of making additional spectrum available to meet future wireless broadband needs. Under the auction statute and rules, certain television broadcasters accepted bids from the FCC to voluntarily relinquish all or part of their spectrum in exchange for consideration, and certain wireless broadband providers and other entities submitted successful bids to acquire the relinquished television spectrum. Over the next several years, television stations that are not relinquishing their spectrum will be “repacked” into the frequency band still remaining for television broadcast use. The incentive auction commenced on March 29, 2016 and officially concluded on April 13, 2017. None of the Company’s television stations accepted bids to relinquish their television channels. Seven of the Company’s stations have been assigned new channels in the reduced post-auction television band. These “repacked” stations will be required to construct and license the necessary technical modifications to operate on their new assigned channels and will need to cease operating on their existing channels, by deadlines which the FCC has established and which are no later than July 13, 2020. Congress has allocated up to an industry-wide total of Broadcasters and MVPDs have submitted estimates to the FCC of their reimbursable costs. As of March 7, 2018, these costs exceeded $1.95 The reallocation of television spectrum to broadband use may be to the detriment of the Company’s investment in digital facilities, could require substantial additional investment to continue current operations and may require viewers to invest in additional equipment or subscription services to continue receiving broadcast television signals. The Company cannot predict the impact of the incentive auction and subsequent repacking on its business. Retransmission Consent On March 3, 2011, the FCC initiated a Notice of Proposed Rulemaking to reexamine its rules (i) governing the requirements for good faith negotiations between MVPDs and broadcasters, including implementing a prohibition on one station negotiating retransmission consent terms for another station under a local service agreement; (ii) for providing advance notice to consumers in the event of dispute; and (iii) to extend certain cable-only obligations to all MVPDs. The FCC also asked for comment on eliminating the network non-duplication and syndicated exclusivity protection rules, which may permit MVPDs to import out-of-market television stations in certain circumstances. In March 2014, the FCC adopted a further notice of proposed rulemaking which seeks additional comment on the elimination or modification of the network non-duplication and syndicated exclusivity rules. The FCC’s possible elimination or modification of the network non-duplication and syndicated exclusivity protection rules may affect the Company’s ability to sustain its current level of retransmission consent revenues or grow such revenues in the future and could have an adverse effect on the Company’s business, financial condition and results of operations. The Company cannot predict the resolution of the FCC’s network non-duplication and syndicated exclusivity proposals, or the impact of these proposals. On December 5, 2014, federal legislation directed the FCC to commence a rulemaking to “review its totality of the circumstances test for good faith [retransmission consent] negotiations.” The FCC commenced this proceeding in September 2015 and comments and reply comments were submitted. In July 2016, the then-Chairman of the FCC publicly announced that the agency would not adopt additional rules in this proceeding. However, the proceeding remains open. Further, certain online video distributors and other over-the-top video distributors (“OTTDs”) have begun streaming broadcast programming over the Internet. In June 2014, the U.S. Supreme Court held that an OTTD’s retransmissions of broadcast television signals without the consent of the broadcast station violate copyright holders’ exclusive right to perform their works publicly as provided under the Copyright Act. In December 2014, the FCC issued a Notice of Proposed Rulemaking proposing to interpret the term “MVPD” to encompass OTTDs that make available for purchase multiple streams of video programming distributed at a prescheduled time and seeking comment on the effects of applying MVPD rules to such OTTDs. Comments and reply comments were filed in 2015. Although the FCC has not classified OTTDs as MVPDs to date, several OTTDs have signed agreements for retransmission of local stations within their markets and others are actively seeking to negotiate such agreements.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2018
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	9. Commitments and Contingencies Guarantee of Nexstar Debt Mission is a guarantor of and has pledged substantially all its assets, excluding FCC licenses, to guarantee Nexstar’s credit facility. Mission is also a guarantor of Nexstar’s 6.125% Notes and Nexstar’s 5.625% Notes. The 6.125% Notes and the 5.625% Notes are general senior unsecured obligations subordinated to all of Mission’s senior secured debt. In the event that Nexstar is unable to repay amounts due under these debt obligations, Mission will be obligated to repay such amounts. The maximum potential amount of future payments that Mission would be required to make under these guarantees would be generally limited to the amount of borrowings outstanding under Nexstar’s senior secured credit facility, the 6.125% Notes and the 5.625% Notes. As of March 31, 2018, Nexstar had $273.1 million outstanding obligations under its 6.125% Notes due on February 15, 2022, $886.9 million outstanding obligations under its 5.625% Notes due on August 1, 2024, and a maximum commitment of $2.616 billion under its senior secured credit facility, of which $1.744 billion in Term Loan B, $702.2 million in Term Loan A, and $20.0 million in revolving loans were outstanding. Nexstar’s Term Loan B is payable in consecutive quarterly installments of 0.25% of the aggregate principal amount outstanding, adjusted for any prepayments, with the remainder due in full at maturity on January 17, 2024. Nexstar’s Term Loan A is payable in quarterly installments that increase over time from 1.25% to 2.5% of the aggregate principal amount outstanding, adjusted for any prepayments, with the remainder due in full at maturity on July 19, 2022. Nexstar has $20.0 million outstanding under its revolving credit facility, which will expire Through March 2018, Nexstar borrowed $44 million under its revolving credit facility to fund Nexstar’s acquisition of LKQD Technologies, Inc. (“LKQD”) and partially repaid $24 million in principal balance under its revolving credit facility, funded by cash on hand. Through March 2018, Nexstar prepaid a total of $40 million in principal balance under its Term Loan B, funded by cash on hand. Purchase Options Granted to Nexstar In consideration of the guarantee of Mission’s bank credit facility by Nexstar Media Group, Inc. and its subsidiaries, Mission has granted Nexstar purchase options to acquire the assets and assume the liabilities of each Mission station, subject to FCC consent, for consideration equal to the greater of (1) seven times the station’s cash flow, as defined in the option agreement, less the amount of its indebtedness as defined in the option agreement, or (2) the amount of its indebtedness. Cash flow is defined as income or loss from operations, plus depreciation and amortization (including amortization of broadcast rights), interest income, non-cash trade and barter expenses, nonrecurring expenses (including time brokerage agreement fees), network compensation payments received or receivable and corporate management fees, less payments for broadcast rights, non-cash trade and barter revenue and network compensation revenue. Additionally, Mission’s shareholders have granted Nexstar an option to purchase any or all of the Company’s stock, subject to FCC consent, for a price equal to the pro rata portion of the greater of (1) five times the Mission stations’ cash flow, as defined in the agreement, reduced by the amount of indebtedness, as defined in the agreement, or (2) $100,000. These option agreements (which expire on various dates between 2018 and 2024) are freely exercisable or assignable by Nexstar without consent or approval by Mission or its shareholders. The Company expects these option agreements to be renewed upon expiration. Indemnification Obligations In connection with certain agreements that the Company enters into in the normal course of its business, including local service agreements, business acquisitions and borrowing arrangements, the Company enters into contractual arrangements under which the Company agrees to indemnify the other party to such arrangement from losses, claims and damages incurred by the indemnified party for certain events as defined within the particular contract. Such indemnification obligations may not be subject to maximum loss clauses and the maximum potential amount of future payments the Company could be required to make under these indemnification arrangements may be unlimited. Historically, payments made related to these indemnifications have been insignificant and the Company has not incurred significant costs to defend lawsuits or settle claims related to these indemnification agreements. Litigation From time to time, the Company is involved with claims that arise out of the normal course of business. In the opinion of management, any resulting liability with respect to these claims would not have a material adverse effect on the Company’s financial position or results of operations.

Summary of Significant Accoun15

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2018
Accounting Policies [Abstract]
Interim Financial Statements	Interim Financial Statements The Condensed Financial Statements as of March 31, 2018 and for the three months ended March 31, 2018 and 2017 are unaudited. However, in the opinion of management, such financial statements include all adjustments (consisting solely of normal recurring adjustments) necessary for the fair statement of the financial information included herein in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”). The preparation of the Condensed Consolidated Financial Statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and reported amounts of revenue and expenses during the period. Actual results could differ from those estimates. Results of operations for interim periods are not necessarily indicative of results for the full year. These Condensed Financial Statements should be read in conjunction with the Financial Statements and related Notes included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2017. The balance sheet as of December 31, 2017 has been derived from the audited Financial Statements as of that date, but does not include all the information and footnotes required by U.S. GAAP for complete financial statements.
Revenue Recognition	Revenue Recognition As discussed in Recent Accounting Pronouncements below, the Company adopted the Financial Accounting Standards Board (the “FASB”) issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606) (“ASC 606”) and all related amendments. ASC 606 establishes a comprehensive new revenue recognition model designed to depict the transfer of goods or services to a customer in an amount that reflects the consideration the entity expects to be entitled to receive in exchange for those goods or services and requires significantly enhanced revenue disclosures. The Company adopted this standard effective January 1, 2018 using the modified retrospective method as applied to customer contracts that were not completed as of January 1, 2018. As a result, financial information for reporting periods beginning on or after January 1, 2018 is presented under ASC 606, while comparative financial information has not been adjusted and continues to be reported in accordance with the Company’s historical accounting policy for revenue recognition prior to the adoption of ASC 606. The Company’s revenue is primarily derived from the sale of advertising by Nexstar under the joint sales agreements (“JSAs”), and the compensation received from multichannel video programming distributors (“MVPDs”) in its markets in return for the Company’s consent to the retransmission of the signals of its television stations. Total revenue includes revenue from Nexstar, retransmission compensation, and other broadcast related revenues. The Company determines whether gross or net presentation is appropriate based on its relationship in the applicable transaction with its ultimate customer. Any amounts paid by customers but not earned as of the balance sheet date are recorded as a contract liability (deferred revenue). The lag between billing the customers and when the payment is due is not significant. Revenue from Nexstar is directly correlated to the advertising revenue earned at the Company’s stations and is recognized, for the amount the Company is entitled to receive, when the television advertising spots are sold by Nexstar and the advertisements are broadcast on Mission stations or delivered on Mission’s television station websites. Television advertising contracts are short-term in nature. The Company’s retransmission consent agreements with MVPDs generally have a three-year term and provides revenue based on the number of subscribers. Under ASC 606, these revenues are considered arising from licenses of intellectual property. As such, the Company applied the exception for sales- or usage-based royalty for the accounting of variable consideration and recognizes revenues when the underlying usage occurs. Retransmission compensation is recognized as the content is transferred to the MVPDs and is based on a price per subscriber. The MVPDs report their subscriber numbers to the Company on a 30- to 60-day lag, which coincides with their payment of the fees due to the Company. Prior to receiving the report from the MVPDs, the Company records revenue based on estimated subscribers and the monthly amount the Company is entitled to receive per subscriber. The impact of the lag is not significant. The above revenue recognition policies are consistent with the Company’s historical accounting policies prior to the adoption of ASC 606. Effective on January 1, 2018, the Company no longer recognizes barter revenue (and the related barter expense) resulting from the exchange of advertising time for certain program material. During the three months ended March 31, 2017, both barter revenue and barter expense were $1.0 million. The barter expense was included in amortization of broadcast rights in the accompanying Condensed Consolidated Statement of Operations. Under the Company’s historical accounting policy prior to the adoption of ASC 606, barter revenue and barter expense would have been $1.0 million and $1.0 million, respectively, during the three months ended March 31, 2018. In addition, the current barter assets (and the related current barter liabilities) would have been $0.5 million, and the noncurrent barter assets (and the related noncurrent barter liabilities) would have been $0.4 million as of March 31, 2018. The Company elected to utilize the practical expedient around costs incurred to obtain a contract due to their short-term nature. Additionally, the incremental benefit from efforts in acquiring these contracts is considered not significant. Thus, the Company continued to expense sales commissions when incurred. The Company did not disclose the value of unsatisfied performance obligations on its contracts with customers because they are either (i) contracts with an original expected term of one year or less, or (ii) contracts for which the sales- or usage-based royalty exception was applied. See Note 7 for additional disclosures on revenue from contracts with customers.
Financial Instruments	Financial Instruments The carrying amounts of cash and cash equivalents, accounts receivable, broadcast rights payable, accounts payable and accrued expenses approximate fair value due to their short-term nature. See Note 6 for fair value disclosures related to the Company’s debt.
Basis of Presentation	Basis of Presentation Certain prior year financial statement amounts have been reclassified to conform to the current year presentation. These reclassifications had no effect on net income or shareholders’ deficit as previously reported.
Recent Accounting Pronouncements	Recent Accounting Pronouncements New Accounting Standards Adopted In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606) and all related amendments. The Company adopted this standard effective January 1, 2018 using the modified retrospective method as applied to customer contracts that were not completed as of January 1, 2018. Upon adoption of this standard, the cumulative adjustment to the Company’s retained earnings as of January 1, 2018 for the cumulative effect of initially applying the new standard is not material. In August 2016, the FASB issued ASU No. 2016-15, Statement of Cash Flows (Topic 230) Classification of Certain Cash Receipts and Cash Payments (a consensus of the Emerging Issues Task Force) (ASU 2016-15). The amendments in ASU 2016-15 address eight specific cash flow issues and apply to all entities that are required to present a statement of cash flows under FASB Accounting Standards Codification 230, Statement of Cash Flows. The amendments in ASU 2016-15 are effective for fiscal years, and interim periods within those years, beginning after December 15, 2017. The Company has applied the change in accounting as of January 1, 2018. In January 2017, the FASB issued ASU No. 2017-01, Business Combinations (Topic 805): Clarifying the Definition of a Business (ASU 2017-01). ASU 2017-01 provides clarification on the definition of a business and adds guidance to assist entities with evaluating whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. To be considered a business under the new guidance, it must include an input and a substantive process that together significantly contribute to the ability to create output. The amendment removes the evaluation of whether a market participant could replace missing elements. The amendments in this update are effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years, and will be applied prospectively. The Company has applied this change in accounting as of January 1, 2018. New Accounting Standards Not Yet Adopted In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842) (“ASU 2016-02”). This new guidance requires the recording of assets and liabilities arising from leases on the balance sheet accompanied by enhanced qualitative and quantitative disclosures in the notes to the financial statements. ASU 2016-02 is expected to provide transparency of information and comparability among organizations. In January 2018, the FASB issued ASU No. 2018-01 to address the accounting treatment of land easements within the context of ASU No. 2016-02, Leases (Topic 842). ASU 2018-01 provides an optional transition practical expedient to not evaluate under Topic 842 existing or expired land easements that were not previously accounted for as leases under the current leases guidance in Topic 840. ASU 2016-02 is effective for interim and annual reporting periods beginning after December 15, 2018, with early adoption permitted. The Company is currently evaluating the impact of the provisions of ASU 2018-01. In June 2016, the FASB issued ASU No. 2016-13, “Financial Instruments - Credit Losses (Topic 326).” The standard requires entities to estimate loss of financial assets measured at amortized cost, including trade receivables, debt securities and loans, using an expected credit loss model. The expected credit loss differs from the previous incurred losses model primarily in that the loss recognition threshold of “probable” has been eliminated and that expected loss should consider reasonable and supportable forecasts in addition to the previously considered past events and current conditions. Additionally, the guidance requires additional disclosures related to the further disaggregation of information related to the credit quality of financial assets by year of the asset’s origination for as many as five years. Entities must apply the standard provision as a cumulative-effect adjustment to retained earnings as of the beginning of the first reporting period in which the guidance is effective. The standard is effective for fiscal years beginning after December 15, 2019, and interim periods within those fiscal years. Early adoption is permitted for annual periods beginning after December 15, 2018, and interim periods within those fiscal years. The Company is currently evaluating the impact of adopting ASU 2016-13 on its financial statements.

Intangible Assets and Goodwill

Intangible Assets and Goodwill (Tables)	3 Months Ended
	Mar. 31, 2018
Goodwill And Intangible Assets Disclosure [Abstract]
Intangible Assets Subject to Amortization	Intangible assets subject to amortization consisted of the following (in thousands): Estimated March 31, 2018 December 31, 2017 useful life, Accumulated Accumulated in years Gross Amortization Net Gross Amortization Net Network affiliation agreements 15 $ 86,248 $ (71,662 ) $ 14,586 $ 86,248 $ (71,150 ) $ 15,098 Other definite-lived intangible assets 1-15 15,681 (14,970 ) 711 15,681 (14,938 ) 743 Other intangible assets $ 101,929 $ (86,632 ) $ 15,297 $ 101,929 $ (86,088 ) $ 15,841
Estimated Future Amortization Expense of Definite-Lived Intangible Assets	The following table presents the Company’s estimate of amortization expense for the remainder of 2018, each of the five succeeding years ended December 31 and thereafter for definite-lived intangible assets as of March 31, 2018 (in thousands): Remainder of 2018 $ 1,585 2019 1,919 2020 1,518 2021 1,517 2022 1,517 2023 1,444 Thereafter 5,797 $ 15,297
Goodwill and FCC Licenses	The carrying amounts of goodwill and FCC licenses were as follows (in thousands): Goodwill FCC Licenses Accumulated Accumulated Gross Impairment Net Gross Impairment Net Balances as of December 31, 2017 $ 34,737 $ (1,550 ) $ 33,187 $ 53,799 $ (10,697 ) $ 43,102 Balances as of March 31, 2018 $ 34,737 $ (1,550 ) $ 33,187 $ 53,799 $ (10,697 ) $ 43,102

Accrued Expenses (Tables)

Accrued Expenses (Tables)	3 Months Ended
	Mar. 31, 2018
Payables And Accruals [Abstract]
Accrued Expenses	Accrued expenses consisted of the following (in thousands): March 31, December 31, 2018 2017 Network affiliation fees $ 3,669 $ 8,823 Other 2,208 2,799 $ 5,877 $ 11,622

Debt (Tables)

Debt (Tables)	3 Months Ended
	Mar. 31, 2018
Debt Disclosure [Abstract]
Long Term Debt	Long-term debt consisted of the following (in thousands): March 31, December 31, 2018 2017 Term loans, net of financing costs and discount of $4,909 and $5,099, respectively $ 225,354 $ 225,742 Less: current portion (2,314 ) (2,314 ) $ 223,040 $ 223,428
Fair Value of Debt	The aggregate carrying amounts and estimated fair values of the Company’s debt were as follows (in thousands): March 31, 2018 December 31, 2017 Carrying Fair Carrying Fair Amount Value Amount Value Term loans $ 225,354 $ 231,063 $ 225,742 $ 231,580

Revenue (Tables)

Revenue (Tables)	3 Months Ended
	Mar. 31, 2018
ASC 606 [Member]
Summary of Disaggregation of Revenue	The following table presents the disaggregation of our revenue for first quarter 2018 under ASC 606. First quarter 2017 revenues are presented in accordance with the Company’s historical accounting standard prior to the adoption of ASC 606 (in thousands): Three Months Ended March 31, 2018 2017 Retransmission compensation $ 15,904 $ 16,793 Other 198 120 Barter revenue - 994 Revenue from Nexstar 8,483 8,788 Net revenue $ 24,585 $ 26,695

Organization and Business Ope20

Organization and Business Operations - Additional Information (Details)	3 Months Ended
	Mar. 31, 2018TelevisionStationSegmentTelevisionMarket
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Number of television stations owned and operated | TelevisionStation	19
Number of reportable segments | Segment	1
Number of television markets | TelevisionMarket	18
Maximum consolidated first lien net leverage ratio	4.50 to 1.00

Summary of Significant Accoun21

Summary of Significant Accounting Policies - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
Summary Of Significant Accounting Policies [Line Items]
Retransmission agreements contracts term	3 years
Revenue Recognition [Abstract]
Barter revenue		$ 1,000
Barter expense		1,000
Current barter assets			$ 600
Current barter liabilities			600
Noncurrent barter assets			500
Noncurrent barter liabilities			$ 500
ASC 606 [Member] | Prior to Adoption of ASC 606 [Member]
Revenue Recognition [Abstract]
Barter revenue	$ 1,000	$ 994
Barter expense	1,000
Current barter assets	500
Current barter liabilities	500
Noncurrent barter assets	400
Noncurrent barter liabilities	$ 400
Minimum [Member]
Summary Of Significant Accounting Policies [Line Items]
Lag period to report subscriber numbers	30 days
Maximum [Member]
Summary Of Significant Accounting Policies [Line Items]
Lag period to report subscriber numbers	60 days

Local Service Agreements with22

Local Service Agreements with Nexstar - Additional Information (Details)	3 Months Ended
	Mar. 31, 2018
Minimum [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Term of agreements renewal periods	8 years
Maximum [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Term of agreements renewal periods	10 years

Intangible Assets and Goodwil23

Intangible Assets and Goodwill - Intangible Assets Subject to Amortization (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2018	Dec. 31, 2017
Finite-Lived Intangible Assets [Line Items]
Gross	$ 101,929	$ 101,929
Accumulated Amortization	(86,632)	(86,088)
Net	15,297	15,841
Other Intangible Assets [Member]
Finite-Lived Intangible Assets [Line Items]
Gross	15,681	15,681
Accumulated Amortization	(14,970)	(14,938)
Net	$ 711	$ 743
Other Intangible Assets [Member] | Minimum [Member]
Finite-Lived Intangible Assets [Line Items]
Estimated useful life	1 year	1 year
Other Intangible Assets [Member] | Maximum [Member]
Finite-Lived Intangible Assets [Line Items]
Estimated useful life	15 years	15 years
Network Affiliation Agreements [Member]
Finite-Lived Intangible Assets [Line Items]
Gross	$ 86,248	$ 86,248
Accumulated Amortization	(71,662)	(71,150)
Net	$ 14,586	$ 15,098
Estimated useful life	15 years	15 years

Intangible Assets and Goodwil24

Intangible Assets and Goodwill - Estimated Amortization Expense of Definite-Lived Intangible Assets (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Finite Lived Intangible Assets Future Amortization Expense Current And Five Succeeding Fiscal Years [Abstract]
Remainder of 2018	$ 1,585
2,019	1,919
2,020	1,518
2,021	1,517
2,022	1,517
2,023	1,444
Thereafter	5,797
Net	$ 15,297	$ 15,841

Intangible Assets and Goodwil25

Intangible Assets and Goodwill - Goodwill and FCC Licenses (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Goodwill [Abstract]
Goodwill, Gross	$ 34,737	$ 34,737
Goodwill, Accumulated Impairment	(1,550)	(1,550)
Goodwill, Net	33,187	33,187
FCC Licenses [Abstract]
FCC Licenses, Gross	53,799	53,799
FCC Licenses, Accumulated Impairment	(10,697)	(10,697)
FCC Licenses, Net	$ 43,102	$ 43,102

Accrued Expenses - Accrued Expe

Accrued Expenses - Accrued Expenses (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Payables And Accruals [Abstract]
Network affiliation fees	$ 3,669	$ 8,823
Other	2,208	2,799
Accrued expenses	$ 5,877	$ 11,622

Debt - Long Term Debt (Details)

Debt - Long Term Debt (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Long term Debt [Abstract]
Less: current portion	$ (2,314)	$ (2,314)
Debt, noncurrent	223,040	223,428
Notes Payable to Banks [Member] | Term Loans [Member]
Long term Debt [Abstract]
Long term Debt	225,354	225,742
Less: current portion	(2,314)	(2,314)
Debt, noncurrent	$ 223,040	$ 223,428

Debt - Long Term Debt (Parenthe

Debt - Long Term Debt (Parenthetical) (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Notes Payable to Banks [Member] | Term Loans [Member]
Long term Debt [Abstract]
Debt financing costs and discount	$ 4,909	$ 5,099

Debt - Additional Information (

Debt - Additional Information (Details)	3 Months Ended
	Mar. 31, 2018USD ($)
Financial Guarantee of Nexstar 5.625% Senior Unsecured Notes Due 2024 [Member]
Debt Instrument [Line Items]
Maximum guarantee exposure	$ 900,000,000
Interest rate	5.625%
Current exposure under the guarantee	$ 886,900,000
Guarantee of Nexstar 6.125% Notes Due 2022 [Member]
Debt Instrument [Line Items]
Maximum guarantee exposure	$ 275,000,000
Interest rate	6.125%
Current exposure under the guarantee	$ 273,100,000
Guarantee of Nexstar Senior Secured Credit Facility [Member]
Debt Instrument [Line Items]
Maximum guarantee exposure	2,616,000,000
Guarantee of Nexstar Senior Secured Credit Facility Term Loan B [Member]
Debt Instrument [Line Items]
Current exposure under the guarantee	1,744,000,000
Guarantee of Nexstar Senior Secured Credit Facility Term Loan A [Member]
Debt Instrument [Line Items]
Current exposure under the guarantee	702,200,000
Nexstar Revolving Loans [Member]
Debt Instrument [Line Items]
Revolving credit facilities, outstanding	20,000,000
Revolving Loans [Member]
Debt Instrument [Line Items]
Available borrowing capacity	3,000,000
Term Loans [Member] | Notes Payable to Banks [Member]
Debt Instrument [Line Items]
Payment of contractual maturities under term loan B	$ 600,000

Debt - Fair Value of Debt (Deta

Debt - Fair Value of Debt (Details) - Term Loans [Member] - Notes Payable to Banks [Member] - Level 3 [Member] - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Carrying Amount [Member]
Fair Value of debt [Line Items]
Carrying and Fair Value of Debt	$ 225,354	$ 225,742
Fair Value [Member]
Fair Value of debt [Line Items]
Carrying and Fair Value of Debt	$ 231,063	$ 231,580

Revenue - Additional Informatio

Revenue - Additional Information (Details) - ASC 606 [Member] - USD ($)	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2018	Jan. 01, 2018
Revenue Initial Application Period Cumulative Effect Transition [Line Items]
Contract balances		$ 0	$ 0
Prior to Adoption of ASC 606 [Member]
Revenue Initial Application Period Cumulative Effect Transition [Line Items]
Barter revenue	$ 1,000,000

Revenue - Summary of Disaggrega

Revenue - Summary of Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Disaggregation Of Revenue [Line Items]
Retransmission compensation	$ 15,904
Other	198
Barter revenue		$ 1,000
Revenue from Nexstar Broadcasting, Inc.	8,483	8,788
Net revenue	24,585	26,695
ASC 606 [Member] | Prior to Adoption of ASC 606 [Member]
Disaggregation Of Revenue [Line Items]
Retransmission compensation		16,793
Other		120
Barter revenue	$ 1,000	994
Revenue from Nexstar Broadcasting, Inc.		8,788
Net revenue		$ 26,695

FCC Regulatory Matters - Additi

FCC Regulatory Matters - Additional Information (Details) $ in Millions	Mar. 07, 2018USD ($)	Mar. 31, 2018USD ($)TelevisionStation
Risks And Uncertainties [Abstract]
Maximum percentage of television household reach		39.00%
Percentage reach of ultra high frequency station		50.00%
Date of abolishing the UHF discount		Aug. 24, 2016
Effective date of reinstating the UHF discount		Jun. 15, 2017
Number of full power stations repacked | TelevisionStation		7
Maximum amount allocated by Congress for reimbursement of repack costs		$ 2,750
Relocation fund included in reimbursement of repack costs		$ 1,000
Estimated reimbursable costs	$ 1,950

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Details) - USD ($)	Jan. 16, 2018	Mar. 31, 2018
Option Agreement to Sell Mission's Capital Stock to Nexstar [Member]
Other Commitments [Abstract]
Minimum purchase price Mission agreed to sell its capital stock to Nexstar		$ 100,000
Minimum [Member] | Option Agreement To Sell The Assets Of Mission Stations To Nexstar [Member]
Other Commitments [Abstract]
Options expiration date year		2,018
Maximum [Member] | Option Agreement To Sell The Assets Of Mission Stations To Nexstar [Member]
Other Commitments [Abstract]
Options expiration date year		2,024
Guarantee of Nexstar Senior Secured Credit Facility [Member]
Guarantees of Nexstar Debt [Abstract]
Maximum guarantee exposure		$ 2,616,000,000
Guarantee of Nexstar Senior Secured Credit Facility Term Loan B [Member]
Guarantees of Nexstar Debt [Abstract]
Current exposure under the guarantee		$ 1,744,000,000
Maturity date		Jan. 17, 2024
Term loan periodic payment percentage (in hundredths)		0.25%
Outstanding principal balance prepaid		$ 40,000,000
Guarantee of Nexstar 6.125% Notes Due 2022 [Member]
Guarantees of Nexstar Debt [Abstract]
Maximum guarantee exposure		275,000,000
Current exposure under the guarantee		$ 273,100,000
Interest rate		6.125%
Maturity date		Feb. 15, 2022
Financial Guarantee of Nexstar 5.625% Senior Unsecured Notes Due 2024 [Member]
Guarantees of Nexstar Debt [Abstract]
Maximum guarantee exposure		$ 900,000,000
Current exposure under the guarantee		$ 886,900,000
Interest rate		5.625%
Maturity date		Aug. 1, 2024
Guarantee of Nexstar Senior Secured Credit Facility Term Loan A [Member]
Guarantees of Nexstar Debt [Abstract]
Current exposure under the guarantee		$ 702,200,000
Maturity date		Jul. 19, 2022
Guarantee of Nexstar Senior Secured Credit Facility Term Loan A [Member] | Minimum [Member]
Guarantees of Nexstar Debt [Abstract]
Term loan periodic payment percentage (in hundredths)		1.25%
Guarantee of Nexstar Senior Secured Credit Facility Term Loan A [Member] | Maximum [Member]
Guarantees of Nexstar Debt [Abstract]
Term loan periodic payment percentage (in hundredths)		2.50%
Nexstar Revolving Loans [Member]
Guarantees of Nexstar Debt [Abstract]
Revolving credit facilities, outstanding		$ 20,000,000
Maturity date		Jul. 19, 2022
Guarantee Nexstar Senior Secured Credit Facility Revolving Credit Facility [Member]
Guarantees of Nexstar Debt [Abstract]
Outstanding principal balance repaid		$ 24,000,000
Guarantee Nexstar Senior Secured Credit Facility Revolving Credit Facility [Member] | LKQD Technologies, Inc [Member]
Guarantees of Nexstar Debt [Abstract]
Borrowed amount	$ 44,000,000