Schedule of segment reporting information |
Detailed segment data for the three and nine months ended September 30, 2024 and 2023, is presented in the following tables: | | | | | | | | | | | | | Three Months Ended September 30, | | 2024 | | 2023 | | (In thousands) | Net revenues: | | | | Radio Broadcasting | $ | 39,716 | | $ | 40,152 | Reach Media | 10,247 | | 11,157 | Digital | 20,398 | | 20,356 | Cable Television | 40,690 | | 46,787 | All other - corporate/eliminations* | (658) | | | (627) | | Consolidated | $ | 110,393 | | $ | 117,825 | | | | | Operating expenses (excluding depreciation and amortization and impairment of goodwill, intangible assets, and long-lived assets): | | | | Radio Broadcasting | $ | 33,171 | | $ | 31,701 | Reach Media | 5,878 | | 7,965 | Digital | 13,371 | | 13,063 | Cable Television | 25,651 | | 24,563 | All other - corporate/eliminations | 10,458 | | 9,389 | Consolidated | $ | 88,529 | | $ | 86,681 | | | | | Depreciation and amortization: | | | | Radio Broadcasting | $ | 509 | | $ | 925 | Reach Media | 39 | | 41 | Digital | 401 | | 376 | Cable Television | 47 | | 110 | All other - corporate/eliminations | 242 | | 356 | Consolidated | $ | 1,238 | | $ | 1,808 | | | | | Impairment of goodwill, intangible assets, and long-lived assets: | | | | Radio Broadcasting | $ | 37,734 | | $ | 85,448 | Reach Media | — | | — | Digital | — | | — | Cable Television | 9,089 | | — | All other - corporate/eliminations | — | | — | Consolidated | $ | 46,823 | | $ | 85,448 | | | | | Operating (loss) income: | | | | Radio Broadcasting | $ | (31,698) | | $ | (77,922) | | Reach Media | 4,330 | | 3,151 | Digital | 6,626 | | 6,917 | Cable Television | 5,903 | | 22,114 | All other - corporate/eliminations | (11,358) | | | (10,372) | | Consolidated | $ | (26,197) | | $ | (56,112) | | | | | *Intercompany revenue included in net revenues above is as follows: | | | | Radio Broadcasting | $ | (658) | | | $ | (627) | |
| | | | | | | | | | | | | Three Months Ended September 30, | | 2024 | | 2023 | | (In thousands) | Capital expenditures: | | | | Radio Broadcasting | $ | 1,119 | | $ | 1,711 | Reach Media | 20 | | 36 | Digital | 391 | | 469 | Cable Television | — | | 36 | All other - corporate/eliminations | 103 | | 208 | Consolidated | $ | 1,633 | | $ | 2,460 |
| | | | | | | | | | | | | Nine Months Ended September 30, | | 2024 | | 2023 | | | | | | (In thousands) | Net revenues: | | | | Radio Broadcasting | $ | 118,066 | | $ | 114,528 | Reach Media | 37,648 | | 42,125 | Digital | 50,252 | | 54,335 | Cable Television | 128,412 | | 148,895 | All other - corporate/eliminations* | (1,831) | | | (2,537) | | Consolidated | $ | 332,547 | | $ | 357,346 | | | | | Operating expenses (excluding depreciation and amortization and impairment of goodwill, intangible assets, and long-lived assets): | | | | Radio Broadcasting | $ | 94,315 | | $ | 87,573 | Reach Media | 27,835 | | 31,326 | Digital | 37,381 | | 37,231 | Cable Television | 82,140 | | 82,547 | All other - corporate/eliminations | 30,944 | | 26,410 | Consolidated | $ | 272,615 | | $ | 265,087 | | | | | Depreciation and amortization: | | | | Radio Broadcasting | $ | 3,470 | | $ | 2,730 | Reach Media | 121 | | 120 | Digital | 1,215 | | 1,077 | Cable Television | 348 | | 1,327 | All other - corporate/eliminations | 927 | | 1,037 | Consolidated | $ | 6,081 | | $ | 6,291 | | | | | Impairment of goodwill, intangible assets, and long-lived assets: | | | | Radio Broadcasting | $ | 118,492 | | $ | 124,304 | Reach Media | — | | — | Digital | — | | — | Cable Television | 9,089 | | — | All other - corporate/eliminations | — | | — | Consolidated | $ | 127,581 | | $ | 124,304 | | | | | Operating (loss) income: | | | | Radio Broadcasting | $ | (98,211) | | $ | (100,079) | | Reach Media | 9,692 | | 10,679 | Digital | 11,656 | | 16,027 | Cable Television | 36,835 | | 65,021 | All other - corporate/eliminations | (33,702) | | | (29,984) | | Consolidated | $ | (73,730) | | $ | (38,336) | | | | | *Intercompany revenue included in net revenues above is as follows: | | | | Radio Broadcasting | $ | (2,111) | | | $ | (2,537) | |
| | | | | | | | | | | | | Nine Months Ended September 30, | | 2024 | | 2023 | | | | | | (In thousands) | Capital expenditures: | | | | Radio Broadcasting | $ | 3,956 | | $ | 4,098 | Reach Media | 49 | | 87 | Digital | 1,269 | | 1,434 | Cable Television | 69 | | 47 | All other - corporate/eliminations | 329 | | 912 | Consolidated | $ | 5,672 | | $ | 6,578 |
| | | | | | | | | | | | | September 30, 2024 | | December 31, 2023 | | | | | | (In thousands) | Total assets: | | | | Radio Broadcasting | $ | 381,120 | | | $ | 503,259 | | Reach Media | 49,253 | | | 50,722 | | Digital | 27,426 | | | 31,185 | | Cable Television | 402,352 | | | 398,660 | | All other - corporate/eliminations | 102,452 | | | 227,347 | | Consolidated | $ | 962,603 | | | $ | 1,211,173 | |
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