Gray Television (GTN) 10-Q 8 May 19 2019 Q1 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	3 Months Ended
	Mar. 31, 2019	May 01, 2019
Document Information [Line Items]
Entity Registrant Name	GRAY TELEVISION INC
Entity Central Index Key	0000043196
Trading Symbol	gtn
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Current Reporting Status	Yes
Entity Emerging Growth Company	false
Entity Small Business	false
Document Type	10-Q
Document Period End Date	Mar. 31, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q1
Amendment Flag	false
Common Class A [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding (in shares)		6,881,192
Common Stock [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding (in shares)		94,273,389

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Millions	Mar. 31, 2019	Dec. 31, 2018
Assets:
Cash	$ 225	$ 667
Accounts receivable, less allowance for doubtful accounts of $9 and $5, respectively	414	184
Current portion of program broadcast rights, net	18	15
Prepaid and other current assets	17	7
Total current assets	674	873
Property and equipment, net	672	363
Operating leases right of use asset	72
Broadcast licenses	3,534	1,530
Goodwill	1,434	612
Other intangible assets, net	517	53
Investment in broadcasting and technology companies	17	17
Restricted cash		752
Other	75	13
Total assets	6,995	4,213
Liabilities and stockholders’ equity:
Accounts payable	16	8
Employee compensation and benefits	44	35
Accrued interest	47	34
Accrued network programming fees	36	22
Other accrued expenses	28	18
Federal and state income taxes	33	14
Current portion of program broadcast obligations	19	15
Deferred revenue	11	4
Dividends payable	13
Current portion of operating lease liabilities	6
Current portion of finance lease liabilities	1
Current portion of long-term debt	14
Total current liabilities	268	150
Long-term debt, less current portion and deferred financing costs	3,882	2,549
Program broadcast obligations, less current portion	8	5
Deferred income taxes	743	285
Accrued pension costs	33	33
Operating lease liabilities	66
Finance lease liabilites	1
Other	15	4
Total liabilities	5,016	3,026
Commitments and contingencies (Note 11)
Series A Perpetual Preferred Stock, no par value; cumulative; redeemable; designated 1,500,000 shares, issued and outstanding 650,000 shares and 0 shares, ($650,000,000 and $0 aggregate liquidation value, respectively)	650
Stockholders’ equity:
Common stock	1,083	907
Retained earnings	343	372
Accumulated other comprehensive loss, net of income tax benefit	(23)	(21)
Stockholders' equity before treasury stock	1,430	1,285
Treasury stock at cost	(75)	(72)
Total stockholders’ equity	1,329	1,187
Total liabilities and stockholders’ equity	6,995	4,213
Common Class A [Member]
Stockholders’ equity:
Common stock	27	27
Treasury stock at cost	$ (26)	$ (26)

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) $ / shares in Thousands	Mar. 31, 2019	Dec. 31, 2018
Accounts receivable, allowance for doubtful accounts	$ 9,000,000	$ 5,000,000
Series A Perpetual Preferred Stock, par value (in dollars per share)	$ 0	$ 0
Series A Perpetual Preferred Stock, shares authorized (in shares)	1,500,000	1,500,000
Series A Perpetual Preferred Stock, shares issued (in shares)	650,000	0
Series A Perpetual Preferred Stock, shares outstanding (in shares)	650,000	0
Series A Perpetual Preferred Stock, liquidation value	$ 650,000,000	$ 0
Common stock, par value (in dollars per share)	$ 0	$ 0
Common stock, shares authorized (in shares)	200,000,000	200,000,000
Common stock, shares issued (in shares)	101,672,999	89,298,943
Common stock, shares outstanding (in shares)	94,273,389	82,022,500
Treasury stock (in shares)	7,399,610	7,276,443
Common Class A [Member]
Common stock, par value (in dollars per share)	$ 0	$ 0
Common stock, shares authorized (in shares)	25,000,000	25,000,000
Common stock, shares issued (in shares)	8,768,959	8,569,149
Common stock, shares outstanding (in shares)	6,881,192	6,729,035
Treasury stock (in shares)	1,887,767	1,840,114

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands, shares in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Revenues (less agency commissions)
Revenue (less agency commissions)	$ 518,000	$ 226,000
Operating expenses before depreciation, amortization and (gain) loss on disposal of assets, net:
Corporate and administrative	48,000	8,000
Depreciation	20,000	14,000
Amortization of intangible assets	29,000	5,000
Loss on disposal of assets, net	(10,000)	(1,000)
Operating expenses	478,000	176,000
Operating income	40,000	50,000
Other income (expense):
Miscellaneous income, net	3,000
Interest expense	(58,000)	(24,000)
(Loss) income before income taxes	(15,000)	26,000
Income tax expense	3,000	6,000
Net (loss) income	(18,000)	20,000
Preferred stock dividends	13,000
Net (loss) income attributable to common stockholders	$ (31,000)	$ 20,000
Basic per common share information:
Net (loss) income per common share (in dollars per share)	$ (0.31)	$ 0.22
Weighted average shares outstanding (in shares)	99	89
Diluted per common share information:
Net (loss) income per common share (in dollars per share)	$ (0.31)	$ 0.22
Weighted average shares outstanding (in shares)	99	90
Dividends declared per common share (in dollars per share)	$ 0	$ 0
Broadcasting, Segment [Member]
Revenues (less agency commissions)
Revenue (less agency commissions)	$ 481,000	$ 226,000
Operating expenses before depreciation, amortization and (gain) loss on disposal of assets, net:
Cost of goods and services sold	356,000	150,000
Loss on disposal of assets, net	(9,000)	(1,000)
Operating expenses	392,000	168,000
Operating income	89,000	58,000
Other income (expense):
Interest expense
Production Companies, Segment [Member]
Revenues (less agency commissions)
Revenue (less agency commissions)	37,000
Operating expenses before depreciation, amortization and (gain) loss on disposal of assets, net:
Cost of goods and services sold	35,000
Loss on disposal of assets, net
Operating expenses	38,000
Operating income	(1,000)
Other income (expense):
Interest expense

Condensed Consolidated Statem_2

Condensed Consolidated Statement of Stockholders' Equity (Unaudited) - USD ($) $ in Thousands	Common Stock [Member]Common Class A [Member]	Common Stock [Member]	Retained Earnings [Member]	Treasury Stock [Member]Common Class A [Member]	Treasury Stock [Member]	AOCI Attributable to Parent [Member]	Total
Balance (in shares) at Dec. 31, 2017	8,349,069	88,788,664		(1,750,692)	(5,535,076)
Balance at Dec. 31, 2017	$ 25,000	$ 902,000	$ 162,000	$ (24,000)	$ (50,000)	$ (22,000)	$ 993,000
Net (loss) income			20,000				20,000
Restricted stock awards (in shares)	220,080	318,196		(89,422)	(107,456)
Restricted stock awards				$ (1,000)	$ (2,000)		(3,000)
Restricted stock unit awards (in shares)		209,500			(82,201)
Restricted stock unit awards					$ (1,000)		(1,000)
Repurchase of common stock (in shares)					(1,551,710)
Repurchase of common stock					$ (20,000)		(20,000)
Share-based compensation		$ 2,000					2,000
Balance (in shares) at Mar. 31, 2018	8,569,149	89,316,360		(1,840,114)	(7,276,443)
Balance at Mar. 31, 2018	$ 25,000	$ 904,000	182,000	$ (25,000)	$ (73,000)	(22,000)	991,000
Balance (in shares) at Dec. 31, 2018	8,569,149	89,298,943		(1,840,114)	(7,276,443)
Balance at Dec. 31, 2018	$ 27,000	$ 907,000	372,000	$ (26,000)	$ (72,000)	(21,000)	1,187,000
Net (loss) income			(18,000)				(18,000)
Restricted stock awards (in shares)	199,810	677,602		(47,653)	(123,167)
Restricted stock awards					$ (3,000)		(3,000)
Restricted stock unit awards
Share-based compensation		$ 2,000					2,000
Balance (in shares) at Mar. 31, 2019	8,768,959	101,672,999		(1,887,767)	(7,399,610)
Balance at Mar. 31, 2019	$ 27,000	$ 1,083,000	343,000	$ (26,000)	$ (75,000)	(23,000)	1,329,000
Preferred stock dividends			(13,000)				(13,000)
Acquisitions of television businesses and licenses (in shares)		11,499,945
Acquisitions of television businesses and licenses		$ 170,000					170,000
401(k) Plan (in shares)		196,509
401(k) Plan		$ 4,000					4,000
Adoption of ASU 2018-02			$ 2,000			$ (2,000)

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018
Operating activities
Net (loss) income	$ (18,000)	$ 20,000
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Depreciation	20,000	14,000
Amortization of intangible assets	29,000	5,000
Amortization of deferred loan costs	3,000	1,000
Amortization of restricted stock and stock option awards	3,000	2,000
Amortization of program broadcast rights	10,000	5,000
Payments on program broadcast obligations	(14,000)	(5,000)
Common stock contributed to 401(k)	4,000
Deferred income taxes	3,000	6,000
Loss on disposal of assets, net	(10,000)	(1,000)
Other	(1,000)	(1,000)
Changes in operating assets and liabilities:
Accounts receivable	12,000	3,000
Prepaid income taxes		(8,000)
Other current assets	11,000	(1,000)
Accounts payable	5,000	(5,000)
Employee compensation, benefits and pension cost	(21,000)	(9,000)
Accrued network fees and other expenses	(31,000)	(10,000)
Accrued interest	14,000	(3,000)
Income taxes payable	(1,000)	1,000
Deferred revenue	6,000	1,000
Net cash provided by operating activities	24,000	15,000
Investing activities
Acquisitions of television businesses and licenses, net of cash acquired	(2,740,000)
Proceeds from sale of television stations	231,000
Purchases of property and equipment	(18,000)	(6,000)
Proceeds from asset sales	2,000
Proceeds from FCC Repack (Note 1)	12,000	1,000
Acquisition prepayments	(47,000)	(3,000)
Other	(2,000)
Net cash used in investing activities	(2,562,000)	(8,000)
Financing activities
Proceeds from borrowings on long-term debt	1,400,000
Repayments of borrowings on long-term debt	(4,000)	(2,000)
Payments for the repurchase of common stock		(20,000)
Deferred and other loan costs	(50,000)
Payment for taxes related to net share settlement of equity awards	(2,000)	(4,000)
Net cash provided by (used in) financing activities	1,344,000	(26,000)
Net decrease in cash	(1,194,000)	(19,000)
Cash and restricted cash at beginning of period	1,419,000	462,000	$ 462,000
Cash and restricted cash at beginning of period	$ 225,000	$ 443,000	$ 1,419,000

Note 1 - Basis of Presentation

Note 1 - Basis of Presentation	3 Months Ended
	Mar. 31, 2019
Notes to Financial Statements
Organization, Consolidation, Basis of Presentation, Business Description and Accounting Policies [Text Block]	1. The accompanying condensed consolidated balance sheet of Gray Television, Inc. (and its consolidated subsidiaries, except as the context otherwise provides,“Gray,” the “Company,” “we,” “us,” and “our”) as of December 31, 2018, December 31, 2018, March 31, 2019 March 31, 2019 2018, 10 10 X. not two 10 December 31, 2018 ( “2018 10 three March 31, 2019, not may December 31, 2019. Overview We are a television broadcast company headquartered in Atlanta, Georgia. On January 2, 2019, January 2, 2019, 93 400 150 first second 87 93 December 2017 November 2018. 24% Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Our actual results could differ materially from these estimated amounts. Our most significant estimates are of our allowance for doubtful accounts in receivables, valuation of goodwill and intangible assets, amortization of program rights and intangible assets, pension costs, income taxes, employee medical insurance claims, useful lives of property and equipment and contingencies. Earnings Per Share We compute basic earnings per share by dividing net income available to common stockholders by the weighted-average number of common shares outstanding during the relevant period. The weighted-average number of common shares outstanding does not not The following table reconciles basic weighted-average common shares outstanding to diluted weighted-average common shares outstanding for the three March 31, 2019 2018, Three Months Ended March 31, 2019 2018 Weighted-average common shares outstanding-basic 99 89 Common stock equivalents for stock options and restricted stock - 1 Weighted-average common shares outstanding-diluted 99 90 Accumulated Other Comprehensive Loss Our accumulated other comprehensive loss balances as of March 31, 2019 December 31, 2018, three March 31, 2019 2018 2018 02, Income Statement - Reporting Comprehensive Income 220 Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income March 31, 2019 December 31, 2018 March 31, December 31, 2019 2018 Accumulated balances of items included in accumulated other comprehensive loss: Increase in pension liability $ (35 ) $ (35 ) Income tax benefit (12 ) (14 ) Accumulated other comprehensive loss $ (23 ) $ (21 ) Pr operty and Equipme nt Property and equipment are carried at cost. Depreciation is computed principally by the straight-line method. The following table lists the components of property and equipment by major category (dollars in millions): Estimated March 31, December 31, Useful Lives 2019 2018 (in years) Property and equipment: Land $ 114 $ 52 Buildings and improvements 270 166 7 to 40 Equipment 711 548 3 to 20 1,095 766 Accumulated depreciation (423 ) (403 ) Total property and equipment, net $ 672 $ 363 Maintenance, repairs and minor replacements are charged to operations as incurred; major replacements and betterments are capitalized. The cost of any assets divested, sold or retired and the related accumulated depreciation are removed from the accounts at the time of disposition, and any resulting profit or loss is reflected in income or expense for the period. In April 2017, $1.7 March 2018 $1.0 $750.0 may seven thirty-seven 2017 three The following tables provide additional information related to (gain) loss on disposal of assets, net included in our condensed consolidated statements of operations and purchases of property and equipment included in our condensed consolidated statements of cash flows (in millions): Three Months Ended March 31, 2019 2018 (Gain) loss on disposal of fixed assets, net: Proceeds from sale of assets $ (2 ) $ - Proceeds from Repack (12 ) (1 ) Net book value of assets disposed 2 - Other 2 - Total $ (10 ) $ (1 ) Purchase of property and equipment: Recurring purchases - operations $ 9 $ 4 Repack 9 2 Total $ 18 $ 6 Allowance for Doubtful Accounts Our allowance for doubtful accounts is equal to a portion of our receivable balances that are 120 may 120 Recent Accounting Pronouncements In January 2017, 2017 04, Intangibles – Goodwill and Other 350 Simplifying the Test for Goodwill Impairment 2017 04 2 2 not December 15, 2019, not not In August 2018, 2018 14, Compensation Retirement Benefits Defined Benefit Plans General 715 20 Disclosure Framework Changes to the Disclosure Requirements for Defined Benefit Plans. 2018 14 2022. not not Adoption of Accounting S tandards and R eclassifications In February 2016, 2016 02, Leases 842 842” 2016 02 840 840” July 2018, 2018 11, 842 Targeted Improvements no January 1, 2019, 2018 11. not twelve not $21 January 2, 2019, $52 $52 3 10 In February 2018, 2018 02, Income Statement - Reporting Comprehensive Income 220 Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income 2018 02 2017 not January 1, 2019 $2 In January 2017, 2017 01, Business Combinations 805 Clarifying the Definition of a Business 2017 01 not not not January 1, 2019. not In addition to the reclassification of our pension expense (benefit) in our condensed consolidated statement of operations as described above, certain amounts in the condensed consolidated statement of cash flows have also been reclassified to conform to the current presentation.

Note 2 - Revenue

Note 2 - Revenue	3 Months Ended
	Mar. 31, 2019
Notes to Financial Statements
Revenue from Contract with Customer [Text Block]	2 . Revenue Revenue Recognition We recognize revenue when we have completed a specified service and effectively transferred the control of that service to a customer in return for an amount of consideration we expect to be entitled to receive. The amount of revenue recognized is determined by the amount of consideration specified in a contract with our customers. We have elected to exclude taxes assessed by a governmental authority on transactions with our customers from our revenue. Any unremitted balance is included in current liabilities on our balance sheet. We record a deposit liability for cash deposits received from our customers that are to be applied as payment once the performance obligation arises and is satisfied in the manner stated above. These deposits are recorded as deposit liabilities on our balance sheet. When we invoice our customers for completed performance obligations, we are unconditionally entitled to receive payment of the invoiced amounts. Therefore, we record invoiced amounts in accounts receivable on our balance sheet. We generally require amounts payable under advertising contracts with our political advertising customers to be paid for in advance. We record the receipt of this cash as a deposit liability. Once the advertisement has been broadcast, the revenue is earned, and we record the revenue and reduce the balance in this deposit liability account. We recorded $3 three March 31, 2019 December 31, 2018. $10 $3 March 31, 2019 December 31, 2018, Disaggregation of Revenue Revenue from our production companies segment is generated through our direct sales channel. Revenue from our broadcast and other segment is generated through both our direct and advertising agency intermediary sales channels. The following table presents our revenue from contracts with customers disaggregated by type of service and sales channel (in millions): Three Months Ended March 31, 2019 2018 Market and service type: Broadcast advertising: Local $ 211 $ 105 National 50 24 Political 3 6 Total advertising 264 135 Retransmission consent 204 86 Production companies 37 - Other 13 5 Total revenue $ 518 $ 226 Sales Channel: Direct $ 333 $ 133 Advertising agency intermediary 185 93 Total revenue $ 518 $ 226

Note 3 - Acquisitions and Dives

Note 3 - Acquisitions and Divestitures	3 Months Ended
	Mar. 31, 2019
Notes to Financial Statements
Mergers, Acquisitions and Dispositions Disclosures [Text Block]	3. Acquisitions and Divestitures On January 2, 2019, nine nine We believe the completion of the Raycom Merger is a significant step in our pursuit of strategic growth through accretive acquisition opportunities.The Raycom Merger completed our transformation from a small, regional broadcaster to a leading media company with nationwide scale based on high-quality stations with exceptional talent in attractive markets. The following table lists the stations acquired and retained, net of divestitures: DMA Designated Market Area Call Network Rank ("DMA") Letters Affiliation 11 Tampa-St. Petersburg (Sarasota), FL WWSB ABC 19 Cleveland-Akron (Canton) WOIO CBS 19 Cleveland-Akron (Canton) WUAB CW 23 Charlotte, NC WBTV CBS 35 Cincinnati, OH WXIX FOX 37 West Palm Beach-Ft. Pierce, FL WFLX FOX 43 Birmingham (Ann and Tusc) WBRC FOX 48 Louisville, KY WAVE NBC 50 New Orleans, LA WVUE FOX 51 Memphis, TN WMC NBC 56 Richmond- Petersburg, VA WWBT NBC 56 Richmond- Petersburg, VA WUPV CW 66 Honolulu, HI KHNL NBC 66 Honolulu, HI KGMB CBS 66 Honolulu, HI KHBC NBC/CBS 66 Honolulu, HI KOGG NBC/CBS 73 Tucson (Nogales), AZ KOLD CBS 74 Columbia, SC WIS NBC 79 Huntsville- Decatur (Florence), AL WAFF NBC 88 Paducah, KY/Cape Girardeau, MO/ Harrisburg, IL KFVS CBS 90 Shreveport, LA KSLA CBS 92 Jackson, MS WLBT NBC 93 Savannah, GA WTOC CBS 94 Charleston, SC WCSC CBS 95 Myrtle Beach-Florence WMBF NBC 97 Baton Rouge, LA WAFB CBS 97 Baton Rouge, LA WBXH MY 100 Boise, ID KNIN FOX 103 Evansville, IN WFIE NBC 114 Tyler-Longview, TX KLTV ABC 114 Tyler-Longview, TX KTRE ABC 116 Montgomery, AL WSFA NBC 127 Columbus, GA (Opelika, AL) WTVM ABC 129 Wilmington, NC WECT NBC 131 Amarillo, TX KFDA CBS 131 Amarillo, TX KEYU TEL 142 Odessa/Midland, TX KCWO CW 142 Odessa/Midland, TX KTLE TEL 143 Lubbock, TX KCBD NBC 148 Wichita Falls, TX & Lawton, OK KSWO ABC 148 Wichita Falls, TX & Lawton, OK KKTM TEL 152 Albany, GA WALB NBC/ABC 156 Biloxi-Gulfport, MS WLOX ABC/CBS 168 Hattiesburg/Laurel, MS WDAM NBC/ABC 180 Jonesboro, AR KAIT ABC/NBC 200 Ottumwa, IA/Kirksville, MO KYOU FOX/NBC The divestiture transactions included one December 31, 2018, 152 $8.5 $4.8 fourth 2018. January 2, 2019, eight Total Cash Television Purchaser Consideration Received Station Location DMA Lockwood Broadcasting, Inc. $ 67 WTNZ Knoxville, TN 60 WFXG Augusta, GA 105 WPGX Panama City, FL 150 WDFX Dothan, AL 173 Scripps Media, Inc. 55 KXXV Waco-Temple-Bryan, TX 89 KRHD Waco-Temple-Bryan, TX 89 WTXL Tallahassee, FL 112 TEGNA, Inc. 109 WTOL Toledo, OH 71 KWES Odessa - Midland, TX 142 Total $ 231 The allocated portion of net consideration paid for the assets and liabilities divested for the stations in these eight $233 The net consideration paid to acquire Raycom consisted of $2.84 11.5 $170 $650 $3.66 6 7 two $17 KYOU and Net Raycom WUPV Consideration Purchase price $ 3,660 $ 17 $ 3,677 Less - consideration allocated to all assets acquired and net of liabilites assumed for the Raycom overlap market stations which were also divested on January 2, 2019 (233 ) - (233 ) Purchase consideration for assets acquired and liabilities assumed net of divestitures $ 3,427 $ 17 $ 3,444 The following table summarizes the preliminary values of the assets acquired, liabilities assumed and resulting goodwill of the Raycom Merger (in millions): Cash $ 117 Accounts receivable 245 Program broadcast rights 12 Other current assets 21 Property and equipment 314 Operating lease right of use asset 52 Goodwill 822 Broadcast licenses 2,004 Other intangible assets 493 Other non-current assets 22 Accrued compensation and benefits (30 ) Program broadcast obligations (17 ) Other current liabilities (59 ) Income tax reserves (12 ) Deferred income taxes (462 ) Operating lease liabilities (52 ) Other long-term liabilities (26 ) Total $ 3,444 These amounts are based upon management’s preliminary estimate of the fair values using valuation techniques including income, cost and market approaches. In determining the preliminary fair value of the acquired assets and assumed liabilities, the fair values were determined based on, among other factors, expected future revenue and cash flows, expected future growth rates, and estimated discount rates. Because of the proximity of the closing date of the Raycom Merger to the filing of this quarterly report, the magnitude and complexity of the calculations involved and the inherent issues related to the integration of our operations, the valuation of the assets acquired, liabilities assumed and resulting goodwill is not not Accounts receivable are recorded at their fair value representing the amount we expect to collect. Gross contractual amounts receivable are approximately $2 Property and equipment are recorded at their fair value and are being depreciated over their estimated useful lives ranging from three 40 Amounts related to other intangible assets represent primarily the estimated fair values of retransmission agreements of $305 $76 $57 4.9 9.5 4.5 Goodwill is calculated as the excess of the consideration transferred over the fair value of the identifiable net assets acquired and liabilities assumed, and represents the future economic benefits expected to arise from other intangible assets acquired that do not $822 $150 The Company’s consolidated results of operations for three March 31, 2019 January 2, 2019. three March 31, 2019 $280 three March 31, 2019 $6 In connection with the Raycom Merger, during the three March 31, 2019, $68 $22 $18 $28 Unaudited Pro Forma Financial Information. The following table sets forth certain unaudited pro forma information for the three March 31, 2019 2018 January 1, 2018 Three Months Ended March 31, 2019 2018 Revenue (less agency commissions) $ 518 $ 484 Net (loss) income $ (2 ) $ 6 Net (loss) income attributable to common stockholders $ (15 ) $ (7 ) Basic net (loss) income per common share $ (0.15 ) $ (0.08 ) Diluted net(loss) income per common share $ (0.15 ) $ (0.08 ) This pro forma financial information is based on Gray’s historical results of operations and the historical results of operations of Raycom, adjusted for the effect of fair value estimates and other acquisition accounting adjustments, and is not January 1, 2018 three March 31, 2019 2018

Note 4 - Long-term Debt

Note 4 - Long-term Debt	3 Months Ended
	Mar. 31, 2019
Notes to Financial Statements
Debt Disclosure [Text Block]	4 . Long-term Debt As of March 31, 2019, 2019 5.125% 2024 “2024 5.875% 2026 “2026 7.0% 2027 “2027 December 31, 2018, 2017 2024 2026 2027 March 31, December 31, 2019 2018 Long-term debt: 2017 Senior Credit Facility $ - $ 595 2019 Senior Credit Facility 1,992 - 2024 Notes 525 525 2026 Notes 700 700 2027 Notes 750 750 Total outstanding principal, including current portion 3,967 2,570 Unamortized deferred loan costs - 2017 Senior Credit Facility - (9 ) Unamortized deferred loan costs - 2019 Senior Credit Facility (49 ) - Unamortized deferred loan costs - 2024 Notes (6 ) (6 ) Unamortized deferred loan costs - 2026 Notes (8 ) (8 ) Unamortized deferred loan costs - 2027 Notes (12 ) (2 ) Unamortized premium - 2026 Notes 4 4 Long-term debt, less deferred financing costs 3,896 2,549 Less current portion (14 ) - Long-term debt, less current portion and deferred financing costs $ 3,882 $ 2,549 Borrowing availability under Revolving Credit Facility $ 200 $ 100 In connection with the Raycom Merger, on January 2, 2019, “2019 1 $100 five “2019 $200 January 1, 2024, 2 $1.4 “2019 January 1, 2026. not December 15, 2018, $0.8 1.25% 2019 December 16, 2018 January 1, 2019. $750.0 2027 November 16, 2018. 2019 2027 Borrowings under the 2019 2.5% 1.5% March 31, 2019, 2019 5.0%. 2019 January 2, 2026. Borrowings under the 2017 2.25% 1.25% 2019 5.25 1.00, 2.25% 1.25% 5.25 1.00, 2.5% 1.5% March 31, 2019, 2017 4.7%. 2017 February 7, 2024. Borrowings under the 2019 2.50% 1.50%, first 2019 0.50% 1.50%. 2019 may 0.375% 0.50% 2019 January 2, 2024. We incurred $42.5 2019 March 31, 2019 2019 As of March 31, 2019, 2019 5 Minimum Principal Maturities Year 2019 Senior Credit Facility 2024 Notes 2026 Notes 2027 Notes Total Remainder of 2019 $ 11 $ - $ - $ - $ 11 2020 14 - - - 14 2021 14 - - - 14 2022 14 - - - 14 2023 14 - - - 14 2024 14 525 - - 539 Thereafter 1,911 - 700 750 3,361 Total $ 1,992 $ 525 $ 700 $ 750 $ 3,967 Our obligations under the 2019 2019 no 2024 2026 2027 not 2024 2026 2027 March 31, 2019, no The 2019 2024 2026 2027 March 31, 2019 December 31, 2018, For all of our interest bearing obligations, we made interest payments of approximately $40.9 $26.7 three March 31, 2019 2018, not three March 31, 2019 2018.

Note 5 - Fair Value Measurement

Note 5 - Fair Value Measurement	3 Months Ended
	Mar. 31, 2019
Notes to Financial Statements
Fair Value Disclosures [Text Block]	5. For purposes of determining a fair value measurement, we utilize market data or assumptions that market participants would use in pricing an asset or liability, including assumptions about risk and the risks inherent in the inputs to the valuation technique. These inputs can be readily observable, market corroborated or generally unobservable. We utilize valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs. These inputs are prioritized into a hierarchy that gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (“Level 1” 3” 2 1 2” Fair Value of Other Financial Instruments The estimated fair value of other financial instruments is determined using market information and appropriate valuation methodologies. Interpreting market data to develop fair value estimates involves considerable judgment. The use of different market assumptions or methodologies could have a material effect on the estimated fair value amounts. Accordingly, the estimates presented are not The carrying amounts of the following instruments approximate fair value due to their short term to maturity: (i) accounts receivable, (ii) prepaid and other current assets, (iii) accounts payable, (iv) accrued employee compensation and benefits, (v) accrued interest, (vi) other accrued expenses, (vii) acquisition-related liabilities and (viii) deferred revenue. The carrying amount of our long-term debt was $3.9 $2.5 $4.0 $2.4 March 31, 2019 December 31, 2018. third March 31, 2019 December 31, 2018, 2

Note 6 - Stockholders' Equity

Note 6 - Stockholders' Equity	3 Months Ended
	Mar. 31, 2019
Notes to Financial Statements
Stockholders' Equity Note Disclosure [Text Block]	6 . Stockholders’ Equity We are authorized to issue 245 25 200 20 10 one three March 31, 2019 2018, not On January 2, 2019, 11.5 $14.74 $0.1 In each of March November 2004, 2.0 March 2006, 5.0 “2004 2006 March 31, 2019, 279,200 no November 6, 2016, $75 December 31, 2019 ( “2016 2016 “401k March 31, 2019, $50 2016 The extent to which the Company repurchases any of its shares, the number of shares and the timing of any repurchases will depend on general market conditions, regulatory requirements, alternative investment opportunities and other considerations. The Company is not may Under our various employee benefit plans, we may, three March 31, 2019, 196,509 $4 401 December 31, 2018. March 31, 2019, 6,204,805 1,503,254

Note 7 - Preferred Stock

Note 7 - Preferred Stock	3 Months Ended
	Mar. 31, 2019
Notes to Financial Statements
Preferred Stock [Text Block]	7 . Preferred Stock In connection with the Raycom Merger, on January 2, 2019, 650,000 $1,000 8% 8.5% two With respect to the payment of dividends, the Series A Preferred Stock will rank senior to all classes and series of our common stock and all other equity securities designated as ranking junior to the Series A Preferred Stock, and no All or any portion of the outstanding Series A Preferred Stock may 30 not 60 The Series A Preferred Stock is also subject to mandatory redemption upon the occurrence of certain change of control transactions or upon the sale or other disposition of all or substantially all of our assets. The holders of Series A Preferred Stock do not In general, the holders of the Series A Preferred Stock do not one The approval of the holders of the Series A Preferred Stock, voting separately as a class, is required in order to authorize, create, issue new shares of Series A Perpetual Preferred stock (other than to pay dividends) or alter the rights of any other shares that are or would be equal to or senior to the Series A Preferred Stock, or to amend, alter or repeal the Company’s Restated Articles of Incorporation as amended from time to time if such amendment, alteration or repeal adversely affects the powers, preferences or special rights of the New Preferred Stock. The Series A Preferred Stock does not In the event that the Company voluntarily or involuntarily liquidates, dissolves or winds up its affairs, holders of Series A Preferred Stock will be entitled to receive for each share of Series A Preferred Stock, out of the Company’s assets or proceeds thereof available for distribution to shareholders, subject to the rights of any creditors, payment in full in an amount equal to the liquidation value and the per-share amount of any unpaid dividends for the current quarterly dividend period. Holders of Series A Preferred Stock would be entitled to receive this amount before any distribution of assets or proceeds to holders of our common stock and any other stock whose rights are junior to the Series A Preferred Stock. If in any distribution described above, our assets are not not

Note 8 - Retirement Plans

Note 8 - Retirement Plans	3 Months Ended
	Mar. 31, 2019
Notes to Financial Statements
Pension and Other Postretirement Benefits Disclosure [Text Block]	8 . Retirement Plans The components of our net periodic pension benefit are included in miscellaneous income in our income statement. During the three March 31, 2019, not not 2019, $2 During the three March 31, 2019, $3 $4 2018 401 2019, $13

Note 9 - Stock-based Compensati

Note 9 - Stock-based Compensation	3 Months Ended
	Mar. 31, 2019
Notes to Financial Statements
Share-based Payment Arrangement [Text Block]	9 . Stock-based Compensation We recognize compensation expense for share-based payment awards made to our employees, consultants and directors. Our current stock-based compensation plans include our 2017 “2017 2007 “2007 three March 31, 2019 2018, Three Months Ended March 31, 2019 2018 Stock-based compensation expense, gross $ 2 $ 2 Income tax benefit at our statutory rate associated with stock-based compensation (1 ) (1 ) Stock-based compensation expense, net $ 1 $ 1 All shares of common stock and Class A common stock underlying outstanding options, restricted stock units and performance awards are counted as issued at target levels under the 2017 2007 During the three March 31, 2019, 2017 ● 99,905 $15.36 33,302 January 31, 2020 2021 33,301 January 31, 2022; ● 99,905 $15.36 January 31, 2022; ● 340,993 $14.85 January 2, 2021; ● 277,048 $16.55 92,349 January 31, 2020 2021, 92,350 January 31, 2022; ● 48,338 $16.55 January 31, 2022; ● 11,223 $17.83 February 15, 2020. During the three March 31, 2018, 2017 ● 110,040 $12.65 36,680 February 28, 2019 36,680 February 28, 2020 2021; ● 110,040 $12.65 February 28, 2021; ● 318,196 $15.25 131,106 February 28, 2019, 69,651 February 28, 2020, 69,652 February 28, 2021. A summary of restricted common stock and Class A common stock activities for the three March 31, 2019 2018, Three Months Ended March 31, 2019 2018 Weighted- Weighted- Average Average Number Grant Date Number Grant Date of Fair Value of Fair Value Shares Per Share Shares Per Share Restricted common stock: Outstanding - beginning of period 578,894 $ 13.14 503,685 $ 11.14 Granted (1) 677,602 15.72 318,196 15.25 Vested (279,170 ) 13.25 (225,570 ) 11.21 Outstanding - end of period 977,326 $ 14.89 596,311 $ 13.31 Restricted Class A common stock: Outstanding - beginning of period 407,786 $ 11.82 462,632 $ 10.63 Granted (1) 199,810 15.36 220,080 12.65 Vested (158,312 ) 11.38 (274,926 ) 10.48 Outstanding - end of period 449,284 $ 13.55 407,786 $ 11.82 Restricted stock units - common stock: Outstanding - beginning of period - $ - 209,500 $ 15.70 Vested - - (209,500 ) 15.70 Outstanding - end of period - $ - - $ - ( 1 For awards subject to future performance conditions, amounts assume target performance. At March 31, 2019 December 31, 2018, 274,746 $ 1.99 March 31, 2019 December 31, 2018, not $5 March 31, 2019.

Note 10 - Leases

Note 10 - Leases	3 Months Ended
	Mar. 31, 2019
Notes to Financial Statements
Leases, Lessee Disclosure [Text Block]	10 . Leases Operating Leases We lease various assets with non-cancellable lease terms that range between one ninety-nine one twenty not ten We lease land, buildings, transmission towers, right of way easements, and equipment through operating leases. We generally lease land for the purpose of erecting transmission towers for our broadcast operations. Our building leases consist of office space and broadcast studios. For transmission towers we do not third We allocate consideration paid in the contract to lease and nonlease components based upon the contract or associate invoice received if applicable. Lease components include base rent, fixed rate escalators and in-substance fixed payments associated with the asset leased. Non-lease components include common area maintenance and operating expenses associated with the leased asset. We have not Variable lease payments are not 842. 842 842 We recognize leases with an initial term of 12 not As of March 31, 2019, 10.9 6.75%. The table below describes the nature of lease expense and classification of operating lease expense recognized in the three Three Months Ended Classification March 31, 2019 Lease expense Operating lease expense Operating expenses $ 3 Short-term lease expense Operating expenses 1 Total lease expense $ 4 The maturities of operating lease liabilities as of March 31, 2019, 2019 5 Year ending December 31, Operating Leases Remainder of 2019 $ 8 2020 10 2021 9 2022 9 2023 9 Thereafter 57 Total lease payments 102 Less: Imputed interest (31 ) Present value of lease liabilties $ 71 We had no December 31, 2018. December 31, 2018 Operating Leases 2019 $ 3 2020 3 2021 3 2022 3 2023 2 Thereafter 12 Total $ 26 Our aggregate lease payments under operating leases as of December 31, 2018 ASC 840 ASC 842 January 1, 2019. March 31, 2019 December 31, 2018 January 2, 2019. Financing Leases We lease certain vehicles through a financing master lease. The weighted average remaining lease term of the vehicles under this lease is 3.4 4.5%. $2 842 Amortization expense associated with this lease is included in amortization expense as a component of operating expense, and interest expense is included in interest expense in our statement of operations. Amortization and interest expenses were not three March 31, 2019. Supplemental Cash Flow Information Supplemental cash flow information related to leases is as follows (in millions): Three Months Ended March 31, 2019 Cash paid for amounts included in measurement of liabilities: Operating cash flows from operating leases $ 3 For the three March 31, 2019, not

Note 11 - Commitments and Conti

Note 11 - Commitments and Contingencies	3 Months Ended
	Mar. 31, 2019
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	11 . Commitments and Contingencies Legal Proceedings and Claims We are and expect to continue to be subject to legal actions, proceedings and claims that arise in the normal course of our business. In the opinion of management, the amount of ultimate liability, if any, with respect to these actions, proceedings and claims will not Pending Acquisitions On May 1, 2018, 115 $32.5 second third 2019, Charlottesville Transactions February 28, 2019, 183 $12.0 February 28, 2019, $25.0 second 2019.

Note 12 - Goodwill and Intangib

Note 12 - Goodwill and Intangible Assets	3 Months Ended
	Mar. 31, 2019
Notes to Financial Statements
Goodwill and Intangible Assets Disclosure [Text Block]	12 . Goodwill and Intangible Assets During the three March 31, 2019, 3 three March 31, 2019 Net Balance at Net Balance at December 31, March 31, 2018 Net Additions Impairments Amortization 2019 Goodwill $ 612 $ 822 $ - $ - $ 1,434 Broadcast licenses 1,530 2,004 - - 3,534 Finite-lived intangible assets 53 493 - (29 ) 517 Total intangible assets net of accumulated amortization $ 2,195 $ 3,319 $ - $ (29 ) $ 5,485 A summary of the changes in our goodwill, on a gross basis, for the three March 31, 2019, As of As of December 31, March 31, 2018 Net Additions Impairments 2019 Goodwill, gross $ 711 $ 822 $ - $ 1,533 Accumulated goodwill impairmant (99 ) - - (99 ) Goodwill, net $ 612 $ 822 $ - $ 1,434 As of March 31, 2019 December 31, 2018, As of March 31, 2019 As of December 31, 2018 Accumulated Accumulated Gross Amortization Net Gross Amortization Net Intangible assets not currently subject to amortization: Broadcast licenses $ 3,587 $ (53 ) $ 3,534 $ 1,583 $ (53 ) $ 1,530 Goodwill 1,434 - 1,434 612 - 612 $ 5,021 $ (53 ) $ 4,968 $ 2,195 $ (53 ) $ 2,142 Intangible assets subject to amortization: Network affiliation agreements $ 54 $ (9 ) $ 45 $ 6 $ (6 ) $ - Other finite-lived intangible assets 588 (116 ) 472 143 (90 ) 53 $ 642 $ (125 ) $ 517 $ 149 $ (96 ) $ 53 Total intangibles $ 5,663 $ (178 ) $ 5,485 $ 2,344 $ (149 ) $ 2,195 Amortization expense for the three March 31, 2019 2018 $29 $5 2019 $85 five 2020, $100 2021, $95 2022, $91 2023, $85 2024, $21 may Impairment of goodwill and broadcast license s Our intangible assets are primarily comprised of broadcast licenses. There were no three March 31, 2019 2018.

Note 13 - Income Taxes

Note 13 - Income Taxes	3 Months Ended
	Mar. 31, 2019
Notes to Financial Statements
Income Tax Disclosure [Text Block]	13 . Income Taxes For the three March 31, 2019 2018, Three Months Ended March 31, 2019 2018 Income tax expense $ 3 $ 6 Effective income tax rate (20 %) 23 % We estimate our differences between taxable income or loss and recorded income or loss on an annual basis. Our tax provision for each quarter is based upon these full year projections, which are revised each reporting period. These projections incorporate estimates of permanent differences between U.S. GAAP income or loss and taxable income or loss, state income taxes and adjustments to our liability for unrecognized tax benefits to adjust our statutory Federal income tax rate of 21.0% three March 31, 2019, 20% 6%, 1 6%, 2 2 53%. three March 31, 2018, 23% 5% 3%.

Note 14 - Segment Information

Note 14 - Segment Information	3 Months Ended
	Mar. 31, 2019
Notes to Financial Statements
Segment Reporting Disclosure [Text Block]	14 . Segment information The Company operates in two 93 Production As of and for the three months ended March 31, 2019: Broadcast Companies Other Consolidated Revenue (less agency commissions) $ 481 $ 37 $ - $ 518 Operating expenses before depreciation, amortization and (gain) loss on disposal of assets, net: 356 35 48 439 Depreciation and amortization 45 3 1 49 (Gain) loss on disposal of assets, net (9 ) - (1 ) (10 ) Operating expenses 392 38 48 478 Operating income $ 89 $ (1 ) $ (48 ) $ 40 Interest expense $ - $ - $ 58 $ 58 Capital expenditures (excluding business combinations) $ 15 $ - $ 3 $ 18 Goodwill $ 1,394 $ 40 $ - $ 1,434 Total Assets $ 6,990 $ 3 $ 2 $ 6,995 For the three months ended March 31, 2018: Revenue (less agency commissions) $ 226 $ - $ - $ 226 Operating expenses before depreciation, amortization and (gain) loss on disposal of assets, net: 150 - 8 158 Depreciation and amortization 19 - - 19 (Gain) loss on disposal of assets, net (1 ) - - (1 ) Operating expenses 168 - 8 176 Operating income $ 58 $ - $ (8 ) $ 50 Interest expense $ - $ - $ 24 $ 24 Capital expenditures (excluding business combinations) $ 6 $ - $ - $ 6 As of December 31, 2018: Goodwill $ 612 $ - $ - $ 612 Total Assets $ 3,242 $ - $ 971 $ 4,213

Note 15 - Subsequent Events

Note 15 - Subsequent Events	3 Months Ended
	Mar. 31, 2019
Notes to Financial Statements
Subsequent Events [Text Block]	15 . Subsequent Event s United Acquisition - May 1, 2019, 178 199 $45 March 1, 2019 93. March 31, 2019, $45

Significant Accounting Policies

Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2019
Accounting Policies [Abstract]
Use of Estimates, Policy [Policy Text Block]	Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Our actual results could differ materially from these estimated amounts. Our most significant estimates are of our allowance for doubtful accounts in receivables, valuation of goodwill and intangible assets, amortization of program rights and intangible assets, pension costs, income taxes, employee medical insurance claims, useful lives of property and equipment and contingencies.
Earnings Per Share, Policy [Policy Text Block]	Earnings Per Share We compute basic earnings per share by dividing net income available to common stockholders by the weighted-average number of common shares outstanding during the relevant period. The weighted-average number of common shares outstanding does not not The following table reconciles basic weighted-average common shares outstanding to diluted weighted-average common shares outstanding for the three March 31, 2019 2018, Three Months Ended March 31, 2019 2018 Weighted-average common shares outstanding-basic 99 89 Common stock equivalents for stock options and restricted stock - 1 Weighted-average common shares outstanding-diluted 99 90
Comprehensive Income, Policy [Policy Text Block]	Accumulated Other Comprehensive Loss Our accumulated other comprehensive loss balances as of March 31, 2019 December 31, 2018, three March 31, 2019 2018 2018 02, Income Statement - Reporting Comprehensive Income 220 Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income March 31, 2019 December 31, 2018 March 31, December 31, 2019 2018 Accumulated balances of items included in accumulated other comprehensive loss: Increase in pension liability $ (35 ) $ (35 ) Income tax benefit (12 ) (14 ) Accumulated other comprehensive loss $ (23 ) $ (21 )
Property, Plant and Equipment, Policy [Policy Text Block]	Pr operty and Equipme nt Property and equipment are carried at cost. Depreciation is computed principally by the straight-line method. The following table lists the components of property and equipment by major category (dollars in millions): Estimated March 31, December 31, Useful Lives 2019 2018 (in years) Property and equipment: Land $ 114 $ 52 Buildings and improvements 270 166 7 to 40 Equipment 711 548 3 to 20 1,095 766 Accumulated depreciation (423 ) (403 ) Total property and equipment, net $ 672 $ 363 Maintenance, repairs and minor replacements are charged to operations as incurred; major replacements and betterments are capitalized. The cost of any assets divested, sold or retired and the related accumulated depreciation are removed from the accounts at the time of disposition, and any resulting profit or loss is reflected in income or expense for the period. In April 2017, $1.7 March 2018 $1.0 $750.0 may seven thirty-seven 2017 three The following tables provide additional information related to (gain) loss on disposal of assets, net included in our condensed consolidated statements of operations and purchases of property and equipment included in our condensed consolidated statements of cash flows (in millions): Three Months Ended March 31, 2019 2018 (Gain) loss on disposal of fixed assets, net: Proceeds from sale of assets $ (2 ) $ - Proceeds from Repack (12 ) (1 ) Net book value of assets disposed 2 - Other 2 - Total $ (10 ) $ (1 ) Purchase of property and equipment: Recurring purchases - operations $ 9 $ 4 Repack 9 2 Total $ 18 $ 6
Receivables, Trade and Other Accounts Receivable, Allowance for Doubtful Accounts, Policy [Policy Text Block]	Allowance for Doubtful Accounts Our allowance for doubtful accounts is equal to a portion of our receivable balances that are 120 may 120
New Accounting Pronouncements, Policy [Policy Text Block]	Recent Accounting Pronouncements In January 2017, 2017 04, Intangibles – Goodwill and Other 350 Simplifying the Test for Goodwill Impairment 2017 04 2 2 not December 15, 2019, not not In August 2018, 2018 14, Compensation Retirement Benefits Defined Benefit Plans General 715 20 Disclosure Framework Changes to the Disclosure Requirements for Defined Benefit Plans. 2018 14 2022. not not Adoption of Accounting S tandards and R eclassifications In February 2016, 2016 02, Leases 842 842” 2016 02 840 840” July 2018, 2018 11, 842 Targeted Improvements no January 1, 2019, 2018 11. not twelve not $21 January 2, 2019, $52 $52 3 10 In February 2018, 2018 02, Income Statement - Reporting Comprehensive Income 220 Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income 2018 02 2017 not January 1, 2019 $2 In January 2017, 2017 01, Business Combinations 805 Clarifying the Definition of a Business 2017 01 not not not January 1, 2019. not In addition to the reclassification of our pension expense (benefit) in our condensed consolidated statement of operations as described above, certain amounts in the condensed consolidated statement of cash flows have also been reclassified to conform to the current presentation.

Note 1 - Basis of Presentation

Note 1 - Basis of Presentation (Tables)	3 Months Ended
	Mar. 31, 2019
Notes Tables
Schedule of Weighted Average Number of Shares [Table Text Block]	Three Months Ended March 31, 2019 2018 Weighted-average common shares outstanding-basic 99 89 Common stock equivalents for stock options and restricted stock - 1 Weighted-average common shares outstanding-diluted 99 90
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]	March 31, December 31, 2019 2018 Accumulated balances of items included in accumulated other comprehensive loss: Increase in pension liability $ (35 ) $ (35 ) Income tax benefit (12 ) (14 ) Accumulated other comprehensive loss $ (23 ) $ (21 )
Property, Plant and Equipment [Table Text Block]	Estimated March 31, December 31, Useful Lives 2019 2018 (in years) Property and equipment: Land $ 114 $ 52 Buildings and improvements 270 166 7 to 40 Equipment 711 548 3 to 20 1,095 766 Accumulated depreciation (423 ) (403 ) Total property and equipment, net $ 672 $ 363
Schedule of Disposal of Assets and Purchase of Property and Equipment [Table Text Block]	Three Months Ended March 31, 2019 2018 (Gain) loss on disposal of fixed assets, net: Proceeds from sale of assets $ (2 ) $ - Proceeds from Repack (12 ) (1 ) Net book value of assets disposed 2 - Other 2 - Total $ (10 ) $ (1 ) Purchase of property and equipment: Recurring purchases - operations $ 9 $ 4 Repack 9 2 Total $ 18 $ 6

Note 2 - Revenue (Tables)

Note 2 - Revenue (Tables)	3 Months Ended
	Mar. 31, 2019
Notes Tables
Disaggregation of Revenue [Table Text Block]	Three Months Ended March 31, 2019 2018 Market and service type: Broadcast advertising: Local $ 211 $ 105 National 50 24 Political 3 6 Total advertising 264 135 Retransmission consent 204 86 Production companies 37 - Other 13 5 Total revenue $ 518 $ 226 Sales Channel: Direct $ 333 $ 133 Advertising agency intermediary 185 93 Total revenue $ 518 $ 226

Note 3 - Acquisitions and Div_2

Note 3 - Acquisitions and Divestitures (Tables)	3 Months Ended
	Mar. 31, 2019
Notes Tables
Disposal Groups, Including Discontinued Operations [Table Text Block]	Total Cash Television Purchaser Consideration Received Station Location DMA Lockwood Broadcasting, Inc. $ 67 WTNZ Knoxville, TN 60 WFXG Augusta, GA 105 WPGX Panama City, FL 150 WDFX Dothan, AL 173 Scripps Media, Inc. 55 KXXV Waco-Temple-Bryan, TX 89 KRHD Waco-Temple-Bryan, TX 89 WTXL Tallahassee, FL 112 TEGNA, Inc. 109 WTOL Toledo, OH 71 KWES Odessa - Midland, TX 142 Total $ 231
Schedule of Business Acquisitions, by Acquisition [Table Text Block]	KYOU and Net Raycom WUPV Consideration Purchase price $ 3,660 $ 17 $ 3,677 Less - consideration allocated to all assets acquired and net of liabilites assumed for the Raycom overlap market stations which were also divested on January 2, 2019 (233 ) - (233 ) Purchase consideration for assets acquired and liabilities assumed net of divestitures $ 3,427 $ 17 $ 3,444
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]	Cash $ 117 Accounts receivable 245 Program broadcast rights 12 Other current assets 21 Property and equipment 314 Operating lease right of use asset 52 Goodwill 822 Broadcast licenses 2,004 Other intangible assets 493 Other non-current assets 22 Accrued compensation and benefits (30 ) Program broadcast obligations (17 ) Other current liabilities (59 ) Income tax reserves (12 ) Deferred income taxes (462 ) Operating lease liabilities (52 ) Other long-term liabilities (26 ) Total $ 3,444
Business Acquisition, Pro Forma Information [Table Text Block]	Three Months Ended March 31, 2019 2018 Revenue (less agency commissions) $ 518 $ 484 Net (loss) income $ (2 ) $ 6 Net (loss) income attributable to common stockholders $ (15 ) $ (7 ) Basic net (loss) income per common share $ (0.15 ) $ (0.08 ) Diluted net(loss) income per common share $ (0.15 ) $ (0.08 )

Note 4 - Long-term Debt (Tables

Note 4 - Long-term Debt (Tables)	3 Months Ended
	Mar. 31, 2019
Notes Tables
Schedule of Long-term Debt Instruments [Table Text Block]	March 31, December 31, 2019 2018 Long-term debt: 2017 Senior Credit Facility $ - $ 595 2019 Senior Credit Facility 1,992 - 2024 Notes 525 525 2026 Notes 700 700 2027 Notes 750 750 Total outstanding principal, including current portion 3,967 2,570 Unamortized deferred loan costs - 2017 Senior Credit Facility - (9 ) Unamortized deferred loan costs - 2019 Senior Credit Facility (49 ) - Unamortized deferred loan costs - 2024 Notes (6 ) (6 ) Unamortized deferred loan costs - 2026 Notes (8 ) (8 ) Unamortized deferred loan costs - 2027 Notes (12 ) (2 ) Unamortized premium - 2026 Notes 4 4 Long-term debt, less deferred financing costs 3,896 2,549 Less current portion (14 ) - Long-term debt, less current portion and deferred financing costs $ 3,882 $ 2,549 Borrowing availability under Revolving Credit Facility $ 200 $ 100
Schedule of Maturities of Long-term Debt [Table Text Block]	Minimum Principal Maturities Year 2019 Senior Credit Facility 2024 Notes 2026 Notes 2027 Notes Total Remainder of 2019 $ 11 $ - $ - $ - $ 11 2020 14 - - - 14 2021 14 - - - 14 2022 14 - - - 14 2023 14 - - - 14 2024 14 525 - - 539 Thereafter 1,911 - 700 750 3,361 Total $ 1,992 $ 525 $ 700 $ 750 $ 3,967

Note 9 - Stock-based Compensa_2

Note 9 - Stock-based Compensation (Tables)	3 Months Ended
	Mar. 31, 2019
Notes Tables
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Table Text Block]	Three Months Ended March 31, 2019 2018 Stock-based compensation expense, gross $ 2 $ 2 Income tax benefit at our statutory rate associated with stock-based compensation (1 ) (1 ) Stock-based compensation expense, net $ 1 $ 1
Schedule of Nonvested Restricted Stock Units Activity [Table Text Block]	Three Months Ended March 31, 2019 2018 Weighted- Weighted- Average Average Number Grant Date Number Grant Date of Fair Value of Fair Value Shares Per Share Shares Per Share Restricted common stock: Outstanding - beginning of period 578,894 $ 13.14 503,685 $ 11.14 Granted (1) 677,602 15.72 318,196 15.25 Vested (279,170 ) 13.25 (225,570 ) 11.21 Outstanding - end of period 977,326 $ 14.89 596,311 $ 13.31 Restricted Class A common stock: Outstanding - beginning of period 407,786 $ 11.82 462,632 $ 10.63 Granted (1) 199,810 15.36 220,080 12.65 Vested (158,312 ) 11.38 (274,926 ) 10.48 Outstanding - end of period 449,284 $ 13.55 407,786 $ 11.82 Restricted stock units - common stock: Outstanding - beginning of period - $ - 209,500 $ 15.70 Vested - - (209,500 ) 15.70 Outstanding - end of period - $ - - $ -

Note 10 - Leases (Tables)

Note 10 - Leases (Tables)	3 Months Ended
	Mar. 31, 2019
Notes Tables
Lease, Cost [Table Text Block]	Three Months Ended Classification March 31, 2019 Lease expense Operating lease expense Operating expenses $ 3 Short-term lease expense Operating expenses 1 Total lease expense $ 4 Three Months Ended March 31, 2019 Cash paid for amounts included in measurement of liabilities: Operating cash flows from operating leases $ 3
Lessee, Operating Lease, Liability, Maturity [Table Text Block]	Year ending December 31, Operating Leases Remainder of 2019 $ 8 2020 10 2021 9 2022 9 2023 9 Thereafter 57 Total lease payments 102 Less: Imputed interest (31 ) Present value of lease liabilties $ 71
Lessee, Operating Lease, Disclosure [Table Text Block]	Operating Leases 2019 $ 3 2020 3 2021 3 2022 3 2023 2 Thereafter 12 Total $ 26

Note 12 - Goodwill and Intang_2

Note 12 - Goodwill and Intangible Assets (Tables)	3 Months Ended
	Mar. 31, 2019
Notes Tables
Schedule of Changes in Goodwill and Other Intangible Assets [Table Text Block]	Net Balance at Net Balance at December 31, March 31, 2018 Net Additions Impairments Amortization 2019 Goodwill $ 612 $ 822 $ - $ - $ 1,434 Broadcast licenses 1,530 2,004 - - 3,534 Finite-lived intangible assets 53 493 - (29 ) 517 Total intangible assets net of accumulated amortization $ 2,195 $ 3,319 $ - $ (29 ) $ 5,485
Schedule of Goodwill [Table Text Block]	As of As of December 31, March 31, 2018 Net Additions Impairments 2019 Goodwill, gross $ 711 $ 822 $ - $ 1,533 Accumulated goodwill impairmant (99 ) - - (99 ) Goodwill, net $ 612 $ 822 $ - $ 1,434
Schedule of Intangible Assets and Goodwill [Table Text Block]	As of March 31, 2019 As of December 31, 2018 Accumulated Accumulated Gross Amortization Net Gross Amortization Net Intangible assets not currently subject to amortization: Broadcast licenses $ 3,587 $ (53 ) $ 3,534 $ 1,583 $ (53 ) $ 1,530 Goodwill 1,434 - 1,434 612 - 612 $ 5,021 $ (53 ) $ 4,968 $ 2,195 $ (53 ) $ 2,142 Intangible assets subject to amortization: Network affiliation agreements $ 54 $ (9 ) $ 45 $ 6 $ (6 ) $ - Other finite-lived intangible assets 588 (116 ) 472 143 (90 ) 53 $ 642 $ (125 ) $ 517 $ 149 $ (96 ) $ 53 Total intangibles $ 5,663 $ (178 ) $ 5,485 $ 2,344 $ (149 ) $ 2,195

Note 13 - Income Taxes (Tables)

Note 13 - Income Taxes (Tables)	3 Months Ended
	Mar. 31, 2019
Notes Tables
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]	Three Months Ended March 31, 2019 2018 Income tax expense $ 3 $ 6 Effective income tax rate (20 %) 23 %

Note 14 - Segment Information (

Note 14 - Segment Information (Tables)	3 Months Ended
	Mar. 31, 2019
Notes Tables
Schedule of Segment Reporting Information, by Segment [Table Text Block]	Production As of and for the three months ended March 31, 2019: Broadcast Companies Other Consolidated Revenue (less agency commissions) $ 481 $ 37 $ - $ 518 Operating expenses before depreciation, amortization and (gain) loss on disposal of assets, net: 356 35 48 439 Depreciation and amortization 45 3 1 49 (Gain) loss on disposal of assets, net (9 ) - (1 ) (10 ) Operating expenses 392 38 48 478 Operating income $ 89 $ (1 ) $ (48 ) $ 40 Interest expense $ - $ - $ 58 $ 58 Capital expenditures (excluding business combinations) $ 15 $ - $ 3 $ 18 Goodwill $ 1,394 $ 40 $ - $ 1,434 Total Assets $ 6,990 $ 3 $ 2 $ 6,995 For the three months ended March 31, 2018: Revenue (less agency commissions) $ 226 $ - $ - $ 226 Operating expenses before depreciation, amortization and (gain) loss on disposal of assets, net: 150 - 8 158 Depreciation and amortization 19 - - 19 (Gain) loss on disposal of assets, net (1 ) - - (1 ) Operating expenses 168 - 8 176 Operating income $ 58 $ - $ (8 ) $ 50 Interest expense $ - $ - $ 24 $ 24 Capital expenditures (excluding business combinations) $ 6 $ - $ - $ 6 As of December 31, 2018: Goodwill $ 612 $ - $ - $ 612 Total Assets $ 3,242 $ - $ 971 $ 4,213

Note 1 - Basis of Presentatio_2

Note 1 - Basis of Presentation (Details Textual) - USD ($) $ in Millions	Jan. 01, 2019	Mar. 31, 2019	Jan. 02, 2019	Dec. 31, 2018
Operating Lease, Liability, Total		$ 71
Operating Lease, Right-of-Use Asset		72
Tax Cuts and Jobs Act, Reclassification from AOCI to Retained Earnings, Tax Effect
Retained Earnings [Member]
Tax Cuts and Jobs Act, Reclassification from AOCI to Retained Earnings, Tax Effect		2
AOCI Attributable to Parent [Member]
Tax Cuts and Jobs Act, Reclassification from AOCI to Retained Earnings, Tax Effect		$ (2)
Accounting Standards Update 2016-02 [Member]
Operating Lease, Liability, Total	$ 21
Accounting Standards Update 2016-02 [Member] | Raycom [Member]
Operating Lease, Liability, Total			$ 52
Operating Lease, Right-of-Use Asset			$ 52
Accounting Standards Update 2018-02 [Member] | Retained Earnings [Member]
Tax Cuts and Jobs Act, Reclassification from AOCI to Retained Earnings, Tax Effect	2
Accounting Standards Update 2018-02 [Member] | AOCI Attributable to Parent [Member]
Tax Cuts and Jobs Act, Reclassification from AOCI to Retained Earnings, Tax Effect	$ (2)

Note 1 - Basis of Presentatio_3

Note 1 - Basis of Presentation - Reconciliation of Basic to Diluted Weighted-average Shares Outstanding (Details) - shares shares in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Weighted-average common shares outstanding-basic (in shares)	99	89
Common stock equivalents for stock options and restricted stock (in shares)		1
Weighted-average common shares outstanding-diluted (in shares)	99	90

Note 1 - Basis of Presentatio_4

Note 1 - Basis of Presentation - Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Millions	Mar. 31, 2019	Dec. 31, 2018
Increase in pension liability	$ (35)	$ (35)
Income tax benefit	(12)	(14)
Accumulated other comprehensive loss	$ (23)	$ (21)

Note 1 - Basis of Presentatio_5

Note 1 - Basis of Presentation - Property and Equipment (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Dec. 31, 2018
Property and equipment, gross	$ 1,095	$ 766
Accumulated depreciation	(423)	(403)
Total property and equipment, net	672	363
Land [Member]
Property and equipment, gross	114	52
Building and Building Improvements [Member]
Property and equipment, gross	$ 270	166
Building and Building Improvements [Member] | Minimum [Member]
Estimated Useful Lives (Year)	7 years
Building and Building Improvements [Member] | Maximum [Member]
Estimated Useful Lives (Year)	40 years
Equipment [Member]
Property and equipment, gross	$ 711	$ 548
Equipment [Member] | Minimum [Member]
Estimated Useful Lives (Year)	3 years
Equipment [Member] | Maximum [Member]
Estimated Useful Lives (Year)	20 years

Note 1 - Basis of Presentatio_6

Note 1 - Basis of Presentation - Disposal of Assets and Purchase of Property and Equipment (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Proceeds from sale of assets	$ (2)
Proceeds from Repack	(12)	(1)
Net book value of assets disposed	2
Other	2
Total	(10)	(1)
Recurring purchases - operations	9	4
Repack	9	2
Total	$ 18	$ 6

Note 2 - Revenue (Details Textu

Note 2 - Revenue (Details Textual) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Dec. 31, 2018
Contract with Customer, Liability, Revenue Recognized	$ 3
Deferred Revenue [Member]
Deposit Liability, Current	$ 10	$ 3

Note 2 - Revenue - Disaggregati

Note 2 - Revenue - Disaggregation of Revenue (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Revenue	$ 518	$ 226
Sales Channel, Directly to Consumer [Member]
Revenue	333	133
Sales Channel, Through Intermediary [Member]
Revenue	185	93
Local Advertising [Member]
Revenue	211	105
National Advertising [Member]
Revenue	50	24
Political Advertising [Member]
Revenue	3	6
Advertising [Member]
Revenue	264	135
Retransmission Consent [Member]
Revenue	204	86
Production Companies [Member]
Revenue	37
Service, Other [Member]
Revenue	$ 13	$ 5

Note 3 - Acquisitions and Div_3

Note 3 - Acquisitions and Divestitures (Details Textual) - USD ($) $ in Millions	Jan. 02, 2019	Mar. 31, 2019	Dec. 31, 2018	Mar. 31, 2018	Dec. 31, 2018
Proceeds from Divestiture of Businesses		$ 231
Gain (Loss) on Disposition of Business		(2)
Finite-lived Intangible Assets Acquired		493
Goodwill, Ending Balance		1,434	$ 612		$ 612
Raycom [Member]
Disposal Group, Including Discontinued Operation, Consideration		233
Payments to Acquire Businesses, Gross	$ 2,840
Business Combination, Consideration Transferred, Total	3,660	3,677
Goodwill, Ending Balance	822
Business Acquisition, Goodwill, Expected Tax Deductible Amount	150
Business Combination, Pro Forma Information, Revenue of Acquiree since Acquisition Date, Actual		280
Business Combination, Pro Forma Information, Earnings or Loss of Acquiree since Acquisition Date, Actual		6
Business Combination, Acquisition Related Costs		68
Raycom [Member] | Legal, Consulting and Other Professional Fees [Member]
Business Combination, Acquisition Related Costs		22
Raycom [Member] | Incentive Compensation and Severance Costs [Member]
Business Combination, Acquisition Related Costs		18
Raycom [Member] | Termination of Sales Representation Agreements [Member]
Business Combination, Acquisition Related Costs		28
Raycom [Member] | Retransmission Agreements [Member]
Finite-lived Intangible Assets Acquired	$ 305
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	4 years 328 days
Raycom [Member] | Off-Market Favorable Lease [Member]
Finite-lived Intangible Assets Acquired	$ 76
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	9 years 182 days
Raycom [Member] | Network Affiliation Agreements [Member]
Finite-lived Intangible Assets Acquired	$ 57
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	4 years 182 days
Raycom [Member] | Minimum [Member]
Property, Plant and Equipment, Useful Life	3 years
Raycom [Member] | Maximum [Member]
Property, Plant and Equipment, Useful Life	40 years
Raycom [Member] | Common Stock [Member]
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares	11,500,000
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable	$ 170
Raycom [Member] | Preferred Stock [Member] | Series A Perpetual Preferred Stock [Member]
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares	650,000
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable	$ 650
KYOU-TV and WUPV-TV [Member]
Disposal Group, Including Discontinued Operation, Consideration
Payments to Acquire Businesses, Gross	17
Business Combination, Consideration Transferred, Total		$ 17
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Gross Contractual Receivables above Their Fair Value	2
WSWG-TV [Member]
Proceeds from Divestiture of Businesses					$ 8.5
Gain (Loss) on Disposition of Business			$ 4.8
Stations Acquired from Raycom [Member]
Gain (Loss) on Disposition of Business	(233)
Disposal Group, Including Discontinued Operation, Consideration	$ 8

Note 3 - Acquisitions and Div_4

Note 3 - Acquisitions and Divestitures - Assets Sold from the Raycom Merger (Details) - USD ($) $ in Millions	Jan. 02, 2019	Mar. 31, 2019	Mar. 31, 2018
Proceeds from sale of television stations		$ 231
WTNZ-TV, WFXG-TV, WPGX-TV, and WDFX-TV [Member] | Lockwood Broadcasting, Inc. [Member]
Proceeds from sale of television stations	$ 67
KXXV-TV, KRHD-CD, and WTXL-TV [Member] | Scripps Media, Inc. [Member]
Proceeds from sale of television stations	55
WTOL-TV and KWES-TV [Member] | TEGNA, Inc. [Member]
Proceeds from sale of television stations	109
WTNZ-TV, WFXG-TV, WPGX-TV, WDFX-TV, KXXV-TV, KRHD-CD, WTXL-TV, WTOL-TV and KWES-TV [Member]
Proceeds from sale of television stations	$ 231

Note 3 - Acquisitions and Div_5

Note 3 - Acquisitions and Divestitures - Consideration (Details) - USD ($) $ in Millions	Jan. 02, 2019	Mar. 31, 2019
Raycom, Excluding KYOU and WUPV [Member]
Purchase price		$ 3,660
Less - consideration allocated to all assets acquired and net of liabilites assumed for the Raycom overlap market stations which were also divested on January 2, 2019		(233)
Purchase consideration for assets acquired and liabilities assumed net of divestitures		3,427
KYOU-TV and WUPV-TV [Member]
Purchase price		17
Less - consideration allocated to all assets acquired and net of liabilites assumed for the Raycom overlap market stations which were also divested on January 2, 2019
Purchase consideration for assets acquired and liabilities assumed net of divestitures		17
Raycom [Member]
Purchase price	$ 3,660	3,677
Less - consideration allocated to all assets acquired and net of liabilites assumed for the Raycom overlap market stations which were also divested on January 2, 2019		(233)
Purchase consideration for assets acquired and liabilities assumed net of divestitures	$ 3,444	$ 3,444

Note 3 - Acquisitions and Div_6

Note 3 - Acquisitions and Divestitures - Recognized Identified Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Millions	Mar. 31, 2019	Jan. 02, 2019	Dec. 31, 2018
Goodwill	$ 1,434		$ 612
Raycom [Member]
Cash		$ 117
Accounts receivable		245
Program broadcast rights		12
Other current assets		21
Property and equipment		314
Operating lease right of use asset		52
Goodwill		822
Broadcast licenses		2,004
Other intangible assets		493
Other non-current assets		22
Accrued compensation and benefits		(30)
Program broadcast obligations		(17)
Other current liabilities		(59)
Income tax reserves		(12)
Deferred income taxes		(462)
Operating lease liabilities		(52)
Other long-term liabilities		(26)
Total	$ 3,444	$ 3,444

Note 3 - Acquisitions and Div_7

Note 3 - Acquisitions and Divestitures - Unaudited Pro Forma Results (Details) - Raycom [Member] - USD ($) $ / shares in Units, $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Revenue (less agency commissions)	$ 518	$ 484
Net (loss) income	(2)	6
Net (loss) income attributable to common stockholders	$ (15)	$ (7)
Basic net (loss) income per common share (in dollars per share)	$ (0.15)	$ (0.08)
Diluted net(loss) income per common share (in dollars per share)	$ (0.15)	$ (0.08)

Note 4 - Long-term Debt (Detail

Note 4 - Long-term Debt (Details Textual) - USD ($) $ in Thousands	Jan. 02, 2019	Dec. 31, 2018	Mar. 31, 2019	Mar. 31, 2018	Jan. 01, 2019	Nov. 16, 2018
Long-term Debt, Gross		$ 2,570,000	$ 3,967,000
Interest Paid, Excluding Capitalized Interest, Operating Activities			40,900	$ 26,700
Interest Costs Capitalized			$ 0	$ 0
2024 Notes [Member]
Debt Instrument, Interest Rate, Stated Percentage			5.125%
Long-term Debt, Gross		525,000	$ 525,000
Debt Issuance Costs, Net, Total		6,000	$ 6,000
2026 Notes [Member]
Debt Instrument, Interest Rate, Stated Percentage			5.875%
Long-term Debt, Gross		700,000	$ 700,000
Debt Issuance Costs, Net, Total		8,000	$ 8,000
2027 Notes [Member]
Debt Instrument, Interest Rate, Stated Percentage			7.00%
Long-term Debt, Gross		750,000	$ 750,000
Debt Instrument, Face Amount						$ 750,000
Debt Issuance Costs, Net, Total		2,000	12,000
The 2017 Senior Credit Facility [Member]
Long-term Debt, Gross		595,000
Debt Issuance Costs, Net, Total		9,000
The 2017 Senior Credit Facility [Member] | The 2017 Term Loan [Member]
Debt Instrument, Interest Rate, Stated Percentage			4.70%
The 2017 Senior Credit Facility [Member] | The 2017 Term Loan [Member] | London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument, Basis Spread on Variable Rate			2.25%
Debt Instrument, Basis Spread on Variable Rate if Leverage Ratio is Less Than or Equal to 5.25			2.25%
Debt Instrument, Interest Rate, Applicable Margin, If Leverage Ratio is Greater than 5.25			2.50%
The 2017 Senior Credit Facility [Member] | The 2017 Term Loan [Member] | Base Rate [Member]
Debt Instrument, Basis Spread on Variable Rate			1.25%
Debt Instrument, Basis Spread on Variable Rate if Leverage Ratio is Less Than or Equal to 5.25			1.25%
Debt Instrument, Interest Rate, Applicable Margin, If Leverage Ratio is Greater than 5.25			1.50%
The 2017 Senior Credit Facility [Member] | Revolving Credit Facility [Member]
Line of Credit Facility, Maximum Borrowing Capacity					$ 100,000
The 2019 Senior Credit Facility [Member]
Long-term Debt, Gross			$ 1,992,000
Debt Issuance Costs, Net, Total			$ 49,000
The 2019 Senior Credit Facility [Member] | The 2019 Term Loan [Member]
Long-term Debt, Gross	$ 1,400,000
Debt Instrument, Unused Borrowing Capacity, Fee		$ 800
Debt Instrument, Unused Borrowing Capacity, Fee Percentage		1.25%
Debt Instrument, Interest Rate, Effective Percentage			5.00%
The 2019 Senior Credit Facility [Member] | The 2019 Term Loan [Member] | London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument, Basis Spread on Variable Rate	2.50%
The 2019 Senior Credit Facility [Member] | The 2019 Term Loan [Member] | Base Rate [Member]
Debt Instrument, Basis Spread on Variable Rate	1.50%
The 2019 Senior Credit Facility [Member] | Revolving Credit Facility [Member]
Line of Credit Facility, Maximum Borrowing Capacity	$ 200,000
Line of Credit Facility, Expiration Period	5 years
The 2019 Senior Credit Facility [Member] | Revolving Credit Facility [Member] | Minimum [Member]
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage			0.375%
The 2019 Senior Credit Facility [Member] | Revolving Credit Facility [Member] | Maximum [Member]
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage			0.50%
The 2019 Senior Credit Facility [Member] | Revolving Credit Facility [Member] | London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument, Basis Spread on Variable Rate			2.50%
Debt Instrument, Basis Spread Used to Define Base Rate			1.50%
The 2019 Senior Credit Facility [Member] | Revolving Credit Facility [Member] | Base Rate [Member]
Debt Instrument, Basis Spread on Variable Rate			1.50%
The 2019 Senior Credit Facility [Member] | Revolving Credit Facility [Member] | Fed Funds Effective Rate Overnight Index Swap Rate [Member]
Debt Instrument, Basis Spread Used to Define Base Rate			0.50%
The 2019 Term Loan [Member]
Debt Issuance Costs, Net, Total			$ 42,500

Note 4 - Long-term Debt - Long-

Note 4 - Long-term Debt - Long-term Debt Summary (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Long-term Debt, Gross	$ 3,967,000	$ 2,570,000
Long-term debt, less deferred financing costs	3,896,000	2,549,000
Less current portion	(14,000)
Long-term debt, less current portion and deferred financing costs	3,882,000	2,549,000
Borrowing availability under Revolving Credit Facility	200,000	100,000
The 2017 Senior Credit Facility [Member]
Long-term Debt, Gross		595,000
Unamortized deferred loan costs		(9,000)
The 2019 Senior Credit Facility [Member]
Long-term Debt, Gross	1,992,000
Unamortized deferred loan costs	(49,000)
2024 Notes [Member]
Long-term Debt, Gross	525,000	525,000
Unamortized deferred loan costs	(6,000)	(6,000)
2026 Notes [Member]
Long-term Debt, Gross	700,000	700,000
Unamortized deferred loan costs	(8,000)	(8,000)
Unamortized premium	4,000	4,000
2027 Notes [Member]
Long-term Debt, Gross	750,000	750,000
Unamortized deferred loan costs	$ (12,000)	$ (2,000)

Note 4 - Long-term Debt - Aggre

Note 4 - Long-term Debt - Aggregate Minimum Principal Maturities on Long-term Debt (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Remainder of 2019	$ 11,000
2020	14,000
2021	14,000
2022	14,000
2023	14,000
2024	539,000
Thereafter	3,361,000
Total Debt	3,967,000	$ 2,570,000
The 2019 Senior Credit Facility [Member]
Remainder of 2019	11,000
2020	14,000
2021	14,000
2022	14,000
2023	14,000
2024	14,000
Thereafter	1,911,000
Total Debt	1,992,000
2024 Notes [Member]
Remainder of 2019
2020	0
2021	0
2022	0
2023
2024	525,000
Thereafter
Total Debt	525,000	525,000
2026 Notes [Member]
Remainder of 2019
2020	0
2021	0
2022	0
2023
2024
Thereafter	700,000
Total Debt	700,000	700,000
2027 Notes [Member]
Remainder of 2019
2020
2021
2022
2023
2024
Thereafter	750,000
Total Debt	$ 750,000	$ 750,000

Note 5 - Fair Value Measureme_2

Note 5 - Fair Value Measurement (Details Textual) - USD ($) $ in Millions	Mar. 31, 2019	Dec. 31, 2018
Long-term Debt, Total	$ 3,896	$ 2,549
Long-term Debt, Fair Value	$ 4,000	$ 2,400

Note 6 - Stockholders' Equity (

Note 6 - Stockholders' Equity (Details Textual) $ / shares in Units, $ in Thousands	Jan. 02, 2019USD ($)$ / sharesshares	Mar. 31, 2019USD ($)shares	Dec. 31, 2018shares	Nov. 06, 2016USD ($)	Mar. 31, 2006shares	Nov. 30, 2004shares	Mar. 31, 2004shares
Capital Units, Authorized		245,000,000
Common Stock, Shares Authorized		200,000,000	200,000,000
Preferred Stock, Shares Authorized		20,000,000
Common Stock, Voting Rights, Votes Per Share		1
Dividends, Common Stock, Total | $		$ 0
Stock Issued During Period, Value, Employee Benefit Plan | $		$ 4,000
Common Stock, Capital Shares Reserved for Future Issuance		6,204,805
Common Stock [Member]
Stock Issued During Period, Shares, Employee Benefit Plan		196,509
Stock Issued During Period, Value, Employee Benefit Plan | $		$ 4,000
March 2004 Authorization [Member]
Stock Repurchase Program, Number of Shares Authorized to be Repurchased							2,000,000
The 2004-2006 Repurchase Authorization [Member]
Stock Repurchase Program, Number of Shares Authorized to be Repurchased					5,000,000
Stock Repurchase Program, Remaining Number of Shares Authorized to be Repurchased		279,200
The 2016 Repurchase Authorization [Member]
Stock Repurchase Program, Authorized Amount | $				$ 75,000
Stock Repurchase Program, Remaining Authorized Repurchase Amount | $		$ 50,000
November 2004 Authorization [Member]
Stock Repurchase Program, Number of Shares Authorized to be Repurchased						2,000,000
Raycom [Member]
Payments of Stock Issuance Costs | $	$ 100
Raycom [Member] | Common Stock [Member]
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares	11,500,000
Shares Issued, Price Per Share | $ / shares	$ 14.74
Common Class A [Member]
Common Stock, Shares Authorized		25,000,000	25,000,000
Common Stock, Voting Rights, Votes Per Share		10
Common Stock, Capital Shares Reserved for Future Issuance		1,503,254
Common Class A [Member] | Common Stock [Member]
Stock Issued During Period, Shares, Employee Benefit Plan
Stock Issued During Period, Value, Employee Benefit Plan | $

Note 7 - Preferred Stock (Detai

Note 7 - Preferred Stock (Details Textual) - Series A Perpetual Preferred Stock [Member]	Jan. 02, 2019$ / sharesshares
Preferred Stock, Liquidation Preference Per Share | $ / shares	$ 1,000
Preferred Stock, Dividend Rate, Cash, Percentage	8.00%
Preferred Stock, Dividend Rate, Additional Preferred Stock, Percentage	8.50%
Raycom [Member] | Preferred Stock [Member]
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares | shares	650,000

Note 8 - Retirement Plans (Deta

Note 8 - Retirement Plans (Details Textual) $ in Thousands	3 Months Ended
	Mar. 31, 2019USD ($)
Stock Issued During Period, Value, Employee Benefit Plan	$ 4,000
Common Stock [Member]
Stock Issued During Period, Value, Employee Benefit Plan	4,000
Capital Accumulation Plan [Member]
Defined Contribution Plan, Employer Discretionary Contribution Amount	3,000
Defined Benefit Plan, Expected Future Employer Contributions, Remainder of Fiscal Year	13,000
Capital Accumulation Plan [Member] | Common Stock [Member]
Stock Issued During Period, Value, Employee Benefit Plan	4,000
Pension Plan [Member] | Gray Pension Plan [Member]
Defined Contribution Plan, Employer Discretionary Contribution Amount	0
Defined Benefit Plan, Expected Future Employer Contributions, Remainder of Fiscal Year	$ 2,000

Note 9 - Stock-based Compensa_3

Note 9 - Stock-based Compensation (Details Textual) - USD ($)		3 Months Ended
		Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, Ending Balance		274,746		274,746
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price, Ending Balance		$ 1.99		$ 1.99
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value		$ 5
Common Class A [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, Ending Balance		0		0
Service Based Restricted Stock [Member] | Common Class A [Member] | Employee [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period		99,905	110,040
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value		$ 15.36	$ 12.65
Service Based Restricted Stock [Member] | Common Class A [Member] | Employee [Member] | Share-based Payment Arrangement, Tranche One [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period		33,302	36,680
Service Based Restricted Stock [Member] | Common Class A [Member] | Employee [Member] | Share-based Payment Arrangement, Tranche Two [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period		33,301	36,680
Performance Based Restricted Stock [Member] | Employee [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period		48,338
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value		$ 16.55
Performance Based Restricted Stock [Member] | Common Class A [Member] | Employee [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period		99,905	110,040
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value		$ 15.36	$ 12.65
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period	[1]	677,602	318,196
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value	[1]	$ 15.72	$ 15.25
Restricted Stock [Member] | Employee [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period		11,223	318,196
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value		$ 17.83	$ 15.25
Restricted Stock [Member] | Employee [Member] | Share-based Payment Arrangement, Tranche One [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period			131,106
Restricted Stock [Member] | Employee [Member] | Share-based Payment Arrangement, Tranche Two [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period			69,651
Restricted Stock [Member] | Employee [Member] | Share-based Payment Arrangement, Tranche Three [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period			69,652
Restricted Stock [Member] | Certain Employees One [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period		340,993
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value		$ 14.85
Restricted Stock [Member] | Certain Employees Two [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period		277,048
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value		$ 16.55
Restricted Stock [Member] | Certain Employees Two [Member] | Share-based Payment Arrangement, Tranche One [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period		92,349
Restricted Stock [Member] | Certain Employees Two [Member] | Share-based Payment Arrangement, Tranche Two [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period		92,350
Restricted Stock [Member] | Common Class A [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period	[1]	199,810	220,080
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value	[1]	$ 15.36	$ 12.65
[1]	For awards subject to future performance conditions, amounts assume target performance.

Note 9 - Stock-based Compensa_4

Note 9 - Stock-based Compensation - Stock-based Compensation Expense and Related Income Tax Benefit (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Stock-based compensation expense, gross	$ 2	$ 2
Income tax benefit at our statutory rate associated with stock-based compensation	(1)	(1)
Stock-based compensation expense, net	$ 1	$ 1

Note 9 - Stock-based Compensa_5

Note 9 - Stock-based Compensation - Summary of Restricted Common Stock Activity (Details) - $ / shares		3 Months Ended
		Mar. 31, 2019	Mar. 31, 2018
Restricted Stock [Member]
Outstanding, Shares (in shares)		578,894	503,685
Outstanding, Weighted average grant date fair value (in dollars per share)		$ 13.14	$ 11.14
Granted, Shares (in shares)	[1]	677,602	318,196
Granted, Weighted average grant date fair value (in dollars per share)	[1]	$ 15.72	$ 15.25
Vested, Shares (in shares)		(279,170)	(225,570)
Vested, Weighted average grant date fair value (in dollars per share)		$ 13.25	$ 11.21
Outstanding, Shares (in shares)		977,326	596,311
Outstanding, Weighted average grant date fair value (in dollars per share)		$ 14.89	$ 13.31
Restricted Stock [Member] | Common Class A [Member]
Outstanding, Shares (in shares)		407,786	462,632
Outstanding, Weighted average grant date fair value (in dollars per share)		$ 11.82	$ 10.63
Granted, Shares (in shares)	[1]	199,810	220,080
Granted, Weighted average grant date fair value (in dollars per share)	[1]	$ 15.36	$ 12.65
Vested, Shares (in shares)		(158,312)	(274,926)
Vested, Weighted average grant date fair value (in dollars per share)		$ 11.38	$ 10.48
Outstanding, Shares (in shares)		449,284	407,786
Outstanding, Weighted average grant date fair value (in dollars per share)		$ 13.55	$ 11.82
Restricted Stock Units (RSUs) [Member]
Outstanding, Shares (in shares)			209,500
Outstanding, Weighted average grant date fair value (in dollars per share)			$ 15.70
Vested, Shares (in shares)			(209,500)
Vested, Weighted average grant date fair value (in dollars per share)			$ 15.70
Outstanding, Shares (in shares)
Outstanding, Weighted average grant date fair value (in dollars per share)
[1]	For awards subject to future performance conditions, amounts assume target performance.

Note 10 - Leases (Details Textu

Note 10 - Leases (Details Textual) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Jan. 01, 2019
Operating Lease, Weighted Average Remaining Lease Term	10 years 328 days
Operating Lease, Weighted Average Discount Rate, Percent	6.75%
Finance Lease, Weighted Average Remaining Lease Term	3 years 146 days
Finance Lease, Weighted Average Discount Rate, Percent	4.50%
Finance Lease, Right-of-Use Asset		$ 2
Finance Lease, Liability, Total		$ 2
Minimum [Member]
Lessee, Term of Contract	1 year
Lessee, Lease, Renewal Term	1 year
Maximum [Member]
Lessee, Term of Contract	99 years
Lessee, Lease, Renewal Term	20 years

Note 10 - Leases - Lease Expens

Note 10 - Leases - Lease Expense (Details) $ in Millions	3 Months Ended
	Mar. 31, 2019USD ($)
Operating lease expense	$ 3
Short-term lease expense	1
Total lease expense	4
Operating cash flows from operating leases	$ 3

Note 10 - Leases - Maturities o

Note 10 - Leases - Maturities of Operating Lease Liabilities (Details) $ in Millions	Mar. 31, 2019USD ($)
Remainder of 2019	$ 8
2020	10
2021	9
2022	9
2023	9
Thereafter	57
Total lease payments	102
Less: Imputed interest	(31)
Present value of lease liabilties	$ 71

Note 10 - Leases - Minimum Leas

Note 10 - Leases - Minimum Lease Payments Under ASC 840 (Details) $ in Millions	Dec. 31, 2018USD ($)
2019	$ 3
2020	3
2021	3
2022	3
2023	2
Thereafter	12
Total	$ 26

Note 11 - Commitments and Con_2

Note 11 - Commitments and Contingencies (Details Textual) - Forecast [Member] - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2019	Sep. 30, 2019
Disposition of WCAV-TV (CBS/FOX) and WVAW-TV (ABC) in Connection to Charlottesyille Transaction [Member]
Disposal Group, Including Discontinued Operation, Consideration	$ 25
KDLT-TV [Member]
Business Combination, Consideration Transferred, Total		$ 32.5
Charlottesville Transactions [Member]
Business Combination, Consideration Transferred, Total	$ 12

Note 12 - Goodwill and Intang_3

Note 12 - Goodwill and Intangible Assets (Details Textual) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Amortization of Intangible Assets, Total	$ 29,000	$ 5,000
Finite-Lived Intangible Assets, Amortization Expense, Remainder of Fiscal Year	85,000
Finite-Lived Intangible Assets, Amortization Expense, Year Two	100,000
Finite-Lived Intangible Assets, Amortization Expense, Year Three	95,000
Finite-Lived Intangible Assets, Amortization Expense, Year Four	91,000
Finite-Lived Intangible Assets, Amortization Expense, Year Five	85,000
Finite-Lived Intangible Assets, Amortization Expense, after Year Five	21,000
Goodwill, Impairment Loss	$ 0	$ 0

Note 12 - Goodwill and Intang_4

Note 12 - Goodwill and Intangible Assets - Changes in Goodwill and Other Intangible Assets (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Goodwill	$ 612,000
Goodwill, Net additions	822,000
Goodwill	1,434,000
Broadcast licenses	1,530,000
Broadcast licenses	3,534,000
Finite-lived intangible assets	53,000
Finite-lived Intangible Assets Acquired	493,000
Amortization of Intangible Assets	(29,000)	$ (5,000)
Finite-lived intangible assets	517,000
Total intangible assets net of accumulated amortization	2,195,000
Total intangible assets net of accumulated amortization, Net additions	3,319,000
Total intangible assets net of accumulated amortization	5,485,000
Broadcast Licenses [Member]
Broadcast licenses	1,530,000
Broadcast licenses, Net additions	2,004,000
Broadcast licenses	$ 3,534,000

Note 12 - Goodwill and Intang_5

Note 12 - Goodwill and Intangible Assets - Summary of Changes in Goodwill (Details) $ in Millions	3 Months Ended
	Mar. 31, 2019USD ($)
Goodwill, gross	$ 711
Goodwill, Net additions	822
Goodwill, gross	1,533
Accumulated goodwill impairmant	(99)
Accumulated goodwill impairmant	(99)
Goodwill	612
Goodwill	$ 1,434

Note 12 - Goodwill and Intang_6

Note 12 - Goodwill and Intangible Assets - Intangible Assets and Related Accumulated Amortization (Details) - USD ($) $ in Millions	Mar. 31, 2019	Dec. 31, 2018
Goodwill, Gross	$ 1,533	$ 711
Goodwill	1,434	612
Other intangible assets, net	517	53
Intangible Assets Gross (Including Goodwill)	5,663	2,344
Accumulated Amortization Intangible Assets	(178)	(149)
Intangible Assets, Net (Including Goodwill)	5,485	2,195
Network Affiliate [Member]
Finite-Lived Intangible Assets, Gross	54	6
Finite-Lived Intangible Assets, Accumulated Amortization	(9)	(6)
Other intangible assets, net	45
Finite-Lived Intangible Assets, Accumulated Amortization	9	6
Other Intangible Assets [Member]
Finite-Lived Intangible Assets, Gross	588	143
Finite-Lived Intangible Assets, Accumulated Amortization	116	90
Other intangible assets, net	472	53
Finite-Lived Intangible Assets, Accumulated Amortization	(116)	(90)
Intangible Assets Subject to Amortization [Member]
Finite-Lived Intangible Assets, Gross	642	149
Finite-Lived Intangible Assets, Accumulated Amortization	(125)	(96)
Other intangible assets, net	517	53
Finite-Lived Intangible Assets, Accumulated Amortization	125	96
Broadcast Licenses [Member]
Indefinite-lived Intangible Assets (Excluding Goodwill), Gross	3,587	1,583
Indefinite-Lived Intangible Assets (Excluding Goodwill), Accumulated Amortization	(53)	(53)
Indefinite-Lived Intangible Assets (Excluding Goodwill)	3,534	1,530
Goodwill Not Amortizable [Member]
Goodwill, Gross	1,434	612
Goodwill	1,434	612
Intangible Assets Not Subject to Amortization [Member]
Goodwill and Indefinite-Lived Intangible Assets, Gross	5,021	2,195
Goodwill and Indefinite-lived Intangible Assets, Accumulated Amortization	(53)	(53)
Goodwill and Indefinite-Lived Assets, Net	$ 4,968	$ 2,142

Note 13 - Income Taxes (Details

Note 13 - Income Taxes (Details Textual)	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent	21.00%
Effective Income Tax Rate Reconciliation, Percent, Total	(20.00%)	23.00%
Effective Income Tax Rate Reconciliation, State and Local Income Taxes, Percent	6.00%	5.00%
Effective Income Tax Rate Reconciliation, Nondeductible Expense, Share-based Payment Arrangement, Percent	6.00%	3.00%
Effective Income Tax Rate Reconciliation, Disposition of Asset, Percent	(53.00%)

Note 13 - Income Taxes - Reconc

Note 13 - Income Taxes - Reconciliation of Income Tax Expense (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Income tax expense	$ 3	$ 6
Effective income tax rate	(20.00%)	23.00%

Note 14 - Segment Information_2

Note 14 - Segment Information (Details Textual)	3 Months Ended
	Mar. 31, 2019
Number of Operating Segments	2

Note 14 - Segment Information -

Note 14 - Segment Information - Segment Information (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018
Revenue (less agency commissions)	$ 518	$ 226
Operating expenses before depreciation, amortization and (gain) loss on disposal of assets, net:	439	158
Depreciation and amortization	49	19
(Gain) loss on disposal of assets, net	10	1
Operating expenses	478	176
Operating income	40	50
Interest expense	58	24
Capital expenditures (excluding business combinations)	18	6
Goodwill	1,434		$ 612
Total Assets	6,995		4,213
Corporate, Non-Segment [Member]
Revenue (less agency commissions)
Operating expenses before depreciation, amortization and (gain) loss on disposal of assets, net:	48	8
Depreciation and amortization	1
(Gain) loss on disposal of assets, net	1
Operating expenses	48	8
Operating income	(48)	(8)
Interest expense	58	24
Capital expenditures (excluding business combinations)	3
Goodwill
Total Assets	2		971
Broadcasting, Segment [Member]
Revenue (less agency commissions)	481	226
Operating expenses before depreciation, amortization and (gain) loss on disposal of assets, net:	356	150
Depreciation and amortization	45	19
(Gain) loss on disposal of assets, net	9	1
Operating expenses	392	168
Operating income	89	58
Interest expense
Capital expenditures (excluding business combinations)	15	6
Goodwill	1,394		612
Total Assets	6,990		3,242
Production Companies, Segment [Member]
Revenue (less agency commissions)	37
Operating expenses before depreciation, amortization and (gain) loss on disposal of assets, net:	35
Depreciation and amortization	3
(Gain) loss on disposal of assets, net
Operating expenses	38
Operating income	(1)
Interest expense
Capital expenditures (excluding business combinations)
Goodwill	40
Total Assets	$ 3

Note 15 - Subsequent Events (De

Note 15 - Subsequent Events (Details Textual) $ in Millions	May 01, 2019USD ($)
WWNY-TV, WNYF-CD, and KEYC-TV [Member] | Subsequent Event [Member]
Payments to Acquire Businesses, Gross	$ 45