STOCK INCENTIVE PLAN (Tables)
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12 Months Ended |
Dec. 31, 2017 |
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| Disclosure of Compensation Related Costs, Share-based Payments [Abstract] |
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| Schedule of Stock-Based Compensation Expense Recognized |
The following table reflects the components of stock-based compensation expense recognized in the Consolidated Statements of Operations for the years ended December 31, 2015, 2016 and 2017: | | | Year Ended December 31, | | | | | 2015 | | 2016 | | 2017 | | | | | | | | | | | | | | | | | (Dollars in thousands) | | | Stock option compensation expense included in unallocated corporate expenses | | $ | 474 | | $ | 378 | | $ | 153 | | | Restricted stock shares compensation expense included in unallocated corporate expenses | | | 34 | | | 24 | | | 1,100 | | | Stock option compensation expense included in broadcast operating expenses | | | 130 | | | 85 | | | 33 | | | Restricted stock shares compensation expense included in broadcast operating expenses | | | | | | | | | 224 | | | Stock option compensation expense included in digital media operating expenses | | | 92 | | | 60 | | | 30 | | | Restricted stock shares compensation expense included in digital media operating expenses | | | | | | | | | 124 | | | Stock option compensation expense included in publishing operating expenses | | | 41 | | | 35 | | | 21 | | | Restricted stock shares compensation expense included in publishing operating expenses | | | | | | | | | 36 | | | Total stock-based compensation expense, pre-tax | | $ | 771 | | $ | 582 | | $ | 1,721 | | | Tax expense from stock-based compensation expense | | | (308) | | | (233) | | | (688) | | | Total stock-based compensation expense, net of tax | | $ | 463 | | $ | 349 | | $ | 1,033 | |
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| Schedule of Weighted-Average Assumptions Used to Estimate Fair Value of Stock Options and Restricted Stock Awards using Black-Scholes Option Valuation Model |
The weighted-average assumptions used to estimate the fair value of the stock options and restricted stock awards using the Black-Scholes valuation model were as follows for the years ended December 31, 2015 and 2016: | | | Year Ended December 31, | | | | | 2015 | | | 2016 | | | Expected volatility | | | 52.37 | % | | | 47.03 | % | | Expected dividends | | | 4.28 | % | | | 5.36 | % | | Expected term (in years) | | | 3.0 | | | | 7.4 | | | Risk-free interest rate | | | 0.85 | % | | | 1.64 | % |
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| Schedule of Stock Option Activity |
Activity with respect to the company’s option awards during the three years ended December 31, 2017 is as follows (Dollars in thousands, except weighted average exercise price and weighted average grant date fair value): | Options | | Shares | | Weighted Average
Exercise Price | | Weighted Average
Grant Date Fair Value | | Weighted Average
Remaining Contractual Term | | Aggregate
Intrinsic Value | | | Outstanding at January 1, 2015 | | | 1,816,204 | | $ | 4.88 | | $ | 3.39 | | 5.5 years | | $ | 5,718 | | | Granted | | | 10,000 | | | 6.08 | | | 1.98 | | | | | | | | Exercised | | | (163,994) | | | 2.35 | | | 1.53 | | | | | 589 | | | Forfeited or expired | | | (81,087) | | | 10.32 | | | 6.93 | | | | | 12 | | | Outstanding at December 31, 2015 | | | 1,581,123 | | $ | 4.87 | | $ | 3.39 | | 4.3 years | | $ | 1,738 | | | Exercisable at December 31, 2015 | | | 947,573 | | | 4.92 | | | 3.54 | | 3.3 years | | | 1,001 | | | | | | | | | | | | | | | | | | | | Outstanding at January 1, 2016 | | | 1,581,123 | | $ | 4.87 | | $ | 3.39 | | 4.3 years | | $ | 1,738 | | | Granted | | | 549,500 | | | 4.85 | | | 1.33 | | | | | | | | Exercised | | | (336,996) | | | 2.95 | | | 2.02 | | | | | 1,418 | | | Forfeited or expired | | | (73,627) | | | 8.06 | | | 3.07 | | | | | 3 | | | Outstanding at December 31, 2016 | | | 1,720,000 | | $ | 5.12 | | $ | 2.89 | | 4.5 years | | $ | 2,428 | | | Exercisable at December 31, 2016 | | | 841,625 | | | 5.56 | | | 3.94 | | 2.9 years | | | 948 | | | Expected to Vest | | | 601,557 | | $ | 4.80 | | $ | 3.15 | | 5.6 years | | $ | 700 | | | | | | | | | | | | | | | | | | | | Outstanding at January 1, 2017 | | | 1,720,000 | | $ | 5.12 | | $ | 2.89 | | 4.5 years | | $ | 2,428 | | | Granted | | | | | | | | | | | | | | | | | Exercised | | | (127,663) | | | 4.02 | | | 2.03 | | | | | 401 | | | Forfeited or expired | | | (163,875) | | | 5.75 | | | 2.99 | | | | | 136 | | | Outstanding at December 31, 2017 | | | 1,428,462 | | $ | 5.20 | | $ | 2.96 | | 3.7 years | | $ | 653 | | | Exercisable at December 31, 2017 | | | 934,959 | | | 5.66 | | | 3.77 | | 2.7 years | | | 414 | | | Expected to Vest | | | 468,581 | | $ | 5.21 | | $ | 2.98 | | 3.7 years | | $ | 239 | |
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| Schedule of Information Regarding Restricted Stock Activity |
Activity with respect to the company’s restricted stock awards during the year ended December 31, 2017 and 2016 is as follows: | Restricted Stock Awards | | Shares | | Weighted Average Grant Date
Fair Value | | Weighted Average Remaining
Contractual Term | | Aggregate Intrinsic
Value | | | Non-Vested at January 1, 2016 | | | 10,000 | | $ | 5.83 | | | 0.2 years | | $ | 40 | | | Granted | | | | | | | | | | | | | | | Lapse of restrictions | | | (10,000) | | | (5.83) | | | | | | 52 | | | Forfeited or expired | | | | | | | | | | | | | | | Outstanding at December 31, 2016 | | | | | $ | | | | | | $ | | | | Restricted Stock Awards | | Shares | | Weighted Average Grant Date
Fair Value | | Weighted Average Remaining
Contractual Term | | Aggregate Intrinsic
Value | | | Non-Vested at January 1, 2017 | | | | | $ | | | | years | | $ | | | | Granted | | | 211,658 | | | 7.01 | | | | | | 1,484 | | | Lapse of restrictions | | | (211,658) | | | (7.01) | | | | | | 1,488 | | | Forfeited or expired | | | | | | | | | | | | | | | Outstanding at December 31, 2017 | | | | | $ | | | | | | $ | | |
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| Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding and Exercisable |
Additional information regarding options outstanding as of December 31, 2017, is as follows: | | | | | | Weighted Average | | | | | | | | | | | | | | Contractual Life | | Weighted | | | | Weighted Average | | | Range of | | | | | Remaining | | Average | | Exercisable | | Grant Date | | | Exercise Prices | | Options | | (Years) | | Exercise Price | | Options | | Fair Value | | | $2.38 - $3.37 | | | 351,370 | | | 3.2 | | $ | 2.65 | | | 215,370 | | $ | 2.59 | | | $3.38 - $4.42 | | | 4,250 | | | 2.2 | | | 3.99 | | | 4,250 | | | 3.99 | | | $4.43 - $4.85 | | | 428,292 | | | 5.7 | | | 4.85 | | | 83,039 | | | 4.85 | | | $4.86 - $6.65 | | | 61,000 | | | 1.3 | | | 5.35 | | | 57,250 | | | 5.38 | | | $6.66 - $7.54 | | | 553,550 | | | 2.7 | | | 6.92 | | | 553,550 | | | 6.92 | | | $7.55 - $8.76 | | | 30,000 | | | 3.8 | | | 8.37 | | | 21,500 | | | 8.38 | | | | | | 1,428,462 | | | 3.7 | | $ | 5.20 | | | 934,959 | | $ | 5.66 | |
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