| 10-Q | 2020-03-31 | Filed 2020-05-11 |
| 10-K | 2019-12-31 | Filed 2020-03-02 |
| 10-Q | 2019-09-30 | Filed 2019-11-12 |
| 10-Q | 2019-06-30 | Filed 2019-08-08 |
| 10-Q | 2019-03-31 | Filed 2019-05-10 |
| 10-K | 2018-12-31 | Filed 2019-03-01 |
| 10-Q | 2018-09-30 | Filed 2018-11-08 |
| 10-Q | 2018-06-30 | Filed 2018-08-08 |
| 10-Q | 2018-03-31 | Filed 2018-05-10 |
| 10-K | 2017-12-31 | Filed 2018-03-01 |
| 10-Q | 2017-09-30 | Filed 2017-11-08 |
| 10-Q | 2017-06-30 | Filed 2017-08-09 |
| 10-Q | 2017-03-31 | Filed 2017-05-10 |
| 10-K | 2016-12-31 | Filed 2017-02-28 |
| 10-Q | 2016-09-30 | Filed 2016-11-08 |
| 10-Q | 2016-06-30 | Filed 2016-08-05 |
| 10-Q | 2016-03-31 | Filed 2016-05-10 |
| 10-K | 2015-12-31 | Filed 2016-02-26 |
| 10-Q | 2015-09-30 | Filed 2015-11-06 |
| 10-Q | 2015-06-30 | Filed 2015-08-07 |
| 10-Q | 2015-03-31 | Filed 2015-05-08 |
| 10-K | 2014-12-31 | Filed 2015-03-02 |
| 10-Q | 2014-09-30 | Filed 2014-11-10 |
| 10-Q | 2014-06-30 | Filed 2014-08-08 |
| 10-Q | 2014-03-31 | Filed 2014-05-08 |
| 10-K | 2013-12-31 | Filed 2014-03-03 |
| 10-Q | 2013-09-30 | Filed 2013-11-12 |
| 10-Q | 2013-06-30 | Filed 2013-08-09 |
| 10-Q | 2013-03-31 | Filed 2013-05-07 |
| 10-K | 2012-12-31 | Filed 2013-03-12 |
| 10-Q | 2012-09-30 | Filed 2012-11-08 |
| 10-Q | 2012-06-30 | Filed 2012-08-08 |
| 10-Q | 2012-03-31 | Filed 2012-05-09 |
| 10-K | 2011-12-31 | Filed 2012-03-02 |
| 10-Q | 2011-09-30 | Filed 2011-11-04 |
| 10-Q | 2011-06-30 | Filed 2011-08-05 |
| 10-Q | 2011-03-31 | Filed 2011-05-06 |
| 10-K | 2010-12-31 | Filed 2011-03-04 |
| 10-Q | 2010-09-30 | Filed 2010-11-05 |
| 10-Q | 2010-06-30 | Filed 2010-08-04 |
| 10-Q | 2010-03-31 | Filed 2010-05-06 |
| 10-K | 2009-12-31 | Filed 2010-03-05 |
| 8-K | 2020-05-12 | Other Events, Exhibits |
| 8-K | 2020-05-06 | Earnings, Exhibits |
| 8-K | 2020-03-17 | Other Events |
| 8-K | 2020-03-02 | Earnings |
| 8-K | 2020-02-26 | Earnings, Exhibits |
| 8-K | 2020-01-27 | Other Events |
| 8-K | 2019-11-27 | Enter Agreement, Off-BS Arrangement, Exhibits |
| 8-K | 2019-11-18 | Officers, Exhibits |
| 8-K | 2019-11-06 | Earnings, Exhibits |
| 8-K | 2019-08-23 | Enter Agreement, M&A, Off-BS Arrangement, Regulation FD, Exhibits |
| 8-K | 2019-08-13 | Enter Agreement, Off-BS Arrangement, Exhibits |
| 8-K | 2019-08-07 | Earnings, Exhibits |
| 8-K | 2019-08-02 | Enter Agreement, Off-BS Arrangement, Exhibits |
| 8-K | 2019-07-11 | Earnings, Exhibits |
| 8-K | 2019-06-06 | Shareholder Vote |
| 8-K | 2019-05-08 | Earnings, Exhibits |
| 8-K | 2019-05-03 | Enter Agreement, Regulation FD, Exhibits |
| 8-K | 2019-02-27 | Earnings, Exhibits |
| 8-K | 2019-01-25 | Officers, Exhibits |
| 8-K | 2018-11-07 | Earnings, Exhibits |
| 8-K | 2018-08-29 | Other Events, Exhibits |
| 8-K | 2018-08-09 | Leave Agreement, Other Events, Exhibits |
| 8-K | 2018-08-08 | Earnings, Exhibits |
| 8-K | 2018-06-07 | Shareholder Vote |
| 8-K | 2018-05-09 | Earnings, Exhibits |
| 8-K | 2018-05-08 | Enter Agreement, Other Events |
| 8-K | 2018-02-28 | Earnings, Exhibits |
| 8-K | 2018-02-06 | Other Events |
We are a diversified television broadcasting company with national reach and a strong focus on using our spectrum to bring together content providers, advertisers, and consumers on various platforms. The content, distributed through our broadcast platform, consists of programming provided by third-party networks and syndicators, local news, our own networks, and other original programming produced by us. We also distribute our original programming, and owned and operated networks, on other third-party platforms. Additionally, we own digital and internet media products that are complementary to our extensive portfolio of television station related digital properties. We focus on offering marketing solutions to advertisers through our television and digital platforms and digital agency services. Outside of our media related businesses, we operate technical services companies focused on supply and maintenance of broadcast transmission systems as well as research and development for the advancement of broadcast technology, and we manage other non-media related investments.
As of December 31, 2018, our broadcast distribution platform consists primarily of our broadcast television stations. We own, provide programming and operating services pursuant to local marketing agreements (LMAs), or provide sales services and other non-programming operating services pursuant to other outsourcing agreements (such as JSAs and SSAs) to 191 stations in 89 markets. These stations broadcast 605 channels, including 240 channels affiliated with primary networks or program service providers comprised of: FOX (59), ABC (41), CBS (30), NBC (24), CW (47), and MyNetworkTV (MNT) (39). The other 365 channels broadcast programming from Antenna TV, Azteca, Bounce Network, CHARGE!, Comet, Estrella TV, Get TV, Grit, Me TV, Movies!, Nevada Sports Network, Stadium, TBD, Telemundo, This TV, Unimas, Univision, Weather, and two channels broadcasting independent programming. For the purpose of this report, these 191 stations and 605 channels are referred to as "our" stations and channels. Refer to our Television Markets and Stations table later in this Item 1. for more information.
Our broadcast segment provides free over-the-air programming to television viewing audiences in the communities we serve through our local television stations. The programming that we provide on our primary channels consists of network provided programs, locally-produced news, local sporting events, programming from program service arrangements, syndicated entertainment programs, and internally originated programming provided by our other media subsidiaries. We provide live, local sporting events on many of our stations by acquiring the local television broadcast rights for these events.
| Comps ($MM TTM) | Market Cap | Gross Margin | EV/EBITDA | Ret on Assets | Assets | Liabilities | Revenue | G Profit | Net Income | EBITDA | EV |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Nexstar Media Group (NXST) | 4,879 | 0% | 22.5 | 2% | 14,103 | 12,153 | 2,737 | 0 | 276 | 582 | 13,080 |
| Tribune Media (TRCO) | 4,127 | 0% | 6.7 | 4% | 8,463 | 4,796 | 2,016 | 0 | 364 | 855 | 5,726 |
| Sinclair Broadcast (SBGI) | 3,952 | 0% | 35.7 | 0% | 17,779 | 14,742 | 3,511 | 0 | 17 | 419 | 14,945 |
| TEGNA (TGNA) | 3,218 | 46% | 15.5 | 3% | 6,902 | 5,381 | 1,606 | 732 | 202 | 478 | 7,417 |
| Pandora (P) | 2,533 | 33% | -9.4 | -28% | 1,173 | 607 | 1,517 | 503 | -332 | -255 | 2,401 |
| Gray Television (GTN) | 1,605 | 0% | 14.8 | 2% | 7,104 | 5,051 | 1,871 | 0 | 173 | 363 | 5,379 |
| Central European Media Enterprises (CETV) | 1,205 | 45% | 8.6 | 9% | 1,339 | 805 | 697 | 311 | 126 | 206 | 1,765 |
| EW Scripps (SSP) | 1,014 | 0% | 18.8 | -0% | 3,506 | 2,613 | 1,348 | 0 | -7 | 155 | 2,913 |
| Entercom Communications (ETM) | 470 | 0% | -12.0 | -8% | 4,185 | 2,818 | 1,487 | 0 | -320 | -180 | 2,166 |
| Entravision Communications (EVC) | 272 | 0% | 37.7 | -3% | 688 | 402 | 285 | 0 | -20 | 12 | 464 |
| Townsquare Media (TSQ) | 192 | 0% | 13.1 | -0% | 1,030 | 681 | 428 | 0 | -2 | 52 | 677 |
| Urban One (UONE) | 110 | 15% | 11.1 | 10% | 1,262 | 1,063 | 445 | 67 | 123 | 88 | 972 |
| Beasley Broadcast Group (BBGI) | 88 | 0% | 10.2 | 1% | 740 | 458 | 189 | 0 | 9 | 32 | 329 |
| Emmis Communications (EMMS) | 59 | 0% | 7.3 | 2% | 260 | 158 | 114 | 0 | 4 | 19 | 135 |
| Salem Media (SALM) | 43 | 0% | 36.2 | -4% | 586 | 392 | 189 | 0 | -23 | 8 | 293 |
| NTN Buzztime (NTN) | 7 | 0% | 29.0 | -5% | 15 | 9 | 15 | 0 | -1 | 0 | 6 |
| Saga Communications (SGA) | 0 | 0% | -1.5 | 6% | 249 | 59 | 124 | 0 | 14 | 20 | -31 |
| Akazoo (SONG) | |||||||||||
| Liberty Media Corporation (BATRA) | |||||||||||
| Cumulus Media (CMLS) | -94.7 | -0% | 0 | 0 | 0 | -11 | 1,004 |