v3.19.1
Acquisitions (Tables)
|
12 Months Ended |
|
Smadex |
|
Summary of Purchase Price Allocation |
The following is a summary of the initial purchase price allocation for the Company’s acquisition of Smadex (unaudited; in millions):
Accounts receivable
|
$ |
0.9 |
|
Other current assets |
|
0.4 |
|
Intangible assets subject to amortization |
|
2.0 |
|
Goodwill |
|
3.6 |
|
Current liabilities
|
|
(2.8 |
) |
Long-term liabilities |
|
(0.2 |
) |
Deferred tax |
|
(0.4 |
) |
|
Schedule of Unaudited Pro Forma Information |
The following unaudited pro forma information for the years ended December 31, 2018 and 2017 has been prepared to give effect to the acquisition of Smadex as if the acquisition had occurred on January 1, 2017. This pro-forma information does not purport to represent what the actual results of operations of the Company would have been had this acquisition occurred on such date, nor does it purport to predict the results of operations for future periods.
|
Years Ended |
|
|
Ended December 31, |
|
|
2018 |
|
|
2017 |
|
Pro Forma: |
|
|
|
|
|
|
|
Total revenue
|
$ |
307,805 |
|
|
$ |
541,663 |
|
Net income (loss)
|
$ |
13,133 |
|
|
$ |
175,765 |
|
|
|
|
|
|
|
|
|
Basic and diluted earnings per share: |
|
|
|
|
|
|
|
Net income per share, basic
|
$ |
0.15 |
|
|
$ |
1.95 |
|
Net income per share, diluted
|
$ |
0.15 |
|
|
$ |
1.91 |
|
|
|
|
|
|
|
|
|
Weighted average common shares outstanding, basic
|
|
89,115,997 |
|
|
|
90,272,257 |
|
Weighted average common shares outstanding, diluted
|
|
90,328,583 |
|
|
|
91,891,957 |
|
|
Headway |
|
Summary of Purchase Price Allocation |
The following is a summary of the purchase price allocation for our acquisition of Headway including the impact of the error corrections to the error identified in Note 3 (in millions):
|
|
|
Accounts receivable |
$ |
19.8 |
|
Intangible assets subject to amortization |
|
15.9 |
|
Goodwill |
|
16.1 |
|
Current liabilities |
|
(23.7 |
)
|
Deferred tax |
|
(4.0 |
) |
|
Schedule of Unaudited Pro Forma Information |
The following unaudited pro forma information for the years ended December 31, 2017 and 2016 has been prepared to give effect to the acquisition of Headway as if the acquisition had occurred on January 1, 2016. This pro forma information does not purport to represent what the actual results of operations of the Company would have been had this acquisition occurred on such date, nor does it purport to predict the results of operations for any future periods.
|
|
|
|
|
|
|
|
|
|
Years Ended |
|
|
Ended December 31, |
|
|
2017 |
|
|
2016 |
|
Pro Forma: |
|
|
|
|
|
|
|
Total revenue
|
$ |
545,592 |
|
|
$ |
288,710 |
|
Net income (loss) (1) |
$ |
176,138 |
|
|
$ |
20,282 |
|
|
|
|
|
|
|
|
|
Basic and diluted earnings per share: |
|
|
|
|
|
|
|
Net income per share, basic
|
$ |
1.95 |
|
|
$ |
0.23 |
|
|
Net income per share, diluted
|
$ |
1.92 |
|
|
$ |
0.22 |
|
|
|
|
|
|
|
|
|
|
Weighted average common shares outstanding, basic
|
|
90,272,257 |
|
|
|
89,340,589 |
|
Weighted average common shares outstanding, diluted
|
|
91,891,957 |
|
|
|
91,303,056 |
|
(1) |
Amount reported as of and for the year ended December 31, 2017 has been revised. See Note 3. |
|
Summary of Intangible Assets Subject to Amortization Acquired |
Intangibles assets subject to amortization acquired includes:
Intangible Asset |
Estimated
Fair Value
(in millions) |
|
Weighted
average
life (in years) |
|
Existing technology |
$ |
1.0 |
|
2.0
|
|
Publisher relationships
|
|
5.0 |
|
3.0 |
|
Advertiser relationships
|
|
4.8 |
|
5.0 |
|
MediaMath agreement |
|
2.1 |
|
9.0 |
|
Non-Compete agreements
|
|
1.1 |
|
4.0 |
|
Trade name
|
|
1.9 |
|
5.0 |
|
|
KMIR-TV and KPSE-LD |
|
Summary of Purchase Price Allocation |
The following is a summary of the purchase price allocation for the acquisition of television stations KMIR-TV and KPSE-LD (in millions):
Property and equipment
|
$ |
2.9 |
|
Intangible assets subject to amortization
|
|
3.6 |
|
Goodwill
|
|
4.6 |
|
FCC licenses |
|
9.9 |
|
|
Schedule of Unaudited Pro Forma Information |
The following unaudited pro forma information for the years ended December 31, 2017 and 2016 has been prepared to give effect to the acquisition of television stations KMIR-TV and KPSE-LD as if the acquisition had occurred on January 1, 2016. This pro forma information does not purport to represent what the actual results of operations of the Company would have been had this acquisition occurred on such date, nor does it purport to predict the results of operations for any future periods.
|
Years Ended |
|
|
Ended December 31, |
|
|
2017 |
|
2016 |
|
Pro Forma: |
|
|
|
|
|
|
|
Total revenue
|
$ |
543,355 |
|
|
$ |
267,614 |
|
Net income (loss) (1) |
$ |
176,299 |
|
|
$ |
21,574 |
|
|
|
|
|
|
|
|
|
Basic and diluted earnings per share: |
|
|
|
|
|
|
|
Net income per share, basic (1) |
$ |
1.95 |
|
|
$ |
0.24 |
|
|
Net income per share, diluted
|
$ |
1.92 |
|
|
$ |
0.24 |
|
|
|
|
|
|
|
|
|
|
Weighted average common shares outstanding, basic
|
|
90,272,257 |
|
|
|
89,340,589 |
|
Weighted average common shares outstanding, diluted
|
|
91,891,957 |
|
|
|
91,303,056 |
|
(1) |
Amount reported as of and for the year ended December 31, 2017 has been revised. See Note 3 |
|
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