STOCK INCENTIVE PLAN (Tables)
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12 Months Ended |
Dec. 31, 2015 |
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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, 2013, 2014 and 2015: | | | Year Ended December 31, | | | | | 2013 | | 2014 | | 2015 | | | | | (Dollars in thousands) | | | Stock option compensation expense included in corporate expenses | | $ | 766 | | $ | 1,025 | | $ | 474 | | | Restricted stock shares compensation expense included in corporate expenses | | | 481 | | | | | | 34 | | | Stock option compensation expense included in broadcast operating expenses | | | 302 | | | 325 | | | 130 | | | Stock option compensation expense included in Internet operating expenses | | | 253 | | | 165 | | | 92 | | | Stock option compensation expense included in publishing operating expenses | | | 47 | | | 61 | | | 41 | | | Total stock-based compensation expense, pre-tax | | $ | 1,849 | | $ | 1,576 | | $ | 771 | | | Tax benefit (expense) from stock-based compensation expense | | | (740) | | | (630) | | | (308) | | | Total stock-based compensation expense, net of tax | | $ | 1,109 | | $ | 946 | | $ | 463 | |
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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, 2013, 2014 and 2015: | | | Year Ended December 31, | | | | | 2013 | | 2014 | | 2015 | | | Expected volatility | | | 100.78% | | | 74.98% | | | 52.37% | | | Expected dividends | | | 2.05% | | | 2.70% | | | 4.28% | | | Expected term (in years) | | | 6.6 | | | 7.8 | | | 3.0 | | | Risk-free interest rate | | | 1.06% | | | 2.27% | | | 0.85% | |
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| Schedule of Stock Option Activity |
Stock option information with respect to the company’s stock-based equity plans during the three years ended December 31, 2015 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, 2013 | | | 1,927,099 | | $ | 4.37 | | $ | 3.45 | | 5.4 years | | $ | 3,899 | | | Granted | | | 735,750 | | | 6.93 | | | 4.90 | | | | | 1,303 | | | Exercised | | | (410,983) | | | 3.46 | | | 2.47 | | | | | 1,883 | | | Forfeited or expired | | | (89,799) | | | 12.30 | | | 7.43 | | | | | 72 | | | Outstanding at December 31, 2013 | | | 2,162,067 | | $ | 5.09 | | $ | 3.57 | | 5.5 years | | $ | 8,491 | | | Exercisable at December 31, 2013 | | | 514,751 | | | 6.29 | | | 4.52 | | 2.7 years | | | 1,919 | | | Expected to Vest | | | 1,564,128 | | $ | 4.71 | | $ | 3.28 | | 6.4 years | | $ | 6,240 | | | | | | | | | | | | | | | | | | | | Outstanding at January 1, 2014 | | | 2,162,067 | | $ | 5.09 | | $ | 3.57 | | 5.5 years | | $ | 8,491 | | | Granted | | | 25,000 | | | 8.40 | | | 4.73 | | | | | | | | Exercised | | | (278,837) | | | 4.38 | | | 3.43 | | | | | 1,260 | | | Forfeited or expired | | | (92,026) | | | 12.25 | | | 7.89 | | | | | 43 | | | Outstanding at December 31, 2014 | | | 1,816,204 | | $ | 4.88 | | $ | 3.39 | | 4.8 years | | $ | 5,718 | | | Exercisable at December 31, 2014 | | | 663,417 | | | 5.32 | | | 3.90 | | 3.0 years | | | 2,015 | | | Expected to Vest | | | 1,094,574 | | $ | 4.62 | | $ | 3.10 | | 5.9 years | | $ | 3,515 | | | | | | | | | | | | | | | | | | | | 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 | | | Expected to Vest | | | 601,557 | | $ | 4.80 | | $ | 3.15 | | 5.6 years | | $ | 700 | |
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| Schedule of Information Regarding Restricted Stock Activity |
Information regarding the company’s restricted stock during the year ended December 31, 2013 and 2015 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, 2013 | | | | | $ | | | 5.4 years | | $ | 3,899 | | | Granted | | | 79,810 | | | 6.02 | | | | | 1,303 | | | Lapsed | | | (79,810) | | | 6.02 | | | | | 1,883 | | | Forfeited | | | (89,799) | | | | | | | | 72 | | | Outstanding at December 31, 2013 | | | | | $ | | | 5.5 years | | $ | 8,491 | | | | | | | | | | | | | | | | | Non-Vested at January 1, 2015 | | | | | $ | | | | | $ | | | | Granted | | | 10,000 | | | 5.83 | | 1.0 years | | | 61 | | | Lapsed | | | | | | | | | | | | | | Forfeited or expired | | | (2,000) | | | 5.83 | | | | | 10 | | | Outstanding at December 31, 2015 | | | 8,000 | | $ | 5.83 | | 0.2 years | | $ | 40 | |
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| Schedule of Additional Information Regarding Options Outstanding |
Additional information regarding options outstanding as of December 31, 2015, 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 | | | $ 0.36 - $ 3.00 | | | 737,746 | | | 4.5 | | $ | 2.59 | | | 401,246 | | $ | 1.71 | | | $ 3.01 - $ 6.00 | | | 146,214 | | | 2.0 | | | 5.13 | | | 145,414 | | | 4.20 | | | $ 6.01 - $ 9.00 | | | 679,938 | | | 4.6 | | | 6.97 | | | 375,688 | | | 4.86 | | | $ 9.01 - $ 12.00 | | | 22,350 | | | 0.2 | | | 11.80 | | | 22,350 | | | 8.80 | | | $ 12.01 - $ 15.00 | | | 2,875 | | | 0.3 | | | 13.20 | | | 2,875 | | | 9.78 | | | $ 0.36 - $ 15.00 | | | 1,589,123 | | | 4.2 | | $ | 4.84 | | | 947,573 | | $ | 3.40 | |
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