SEGMENT INFORMATION (Tables)

9 Months Ended

Sep. 30, 2020

SEGMENT INFORMATION

Schedule of segment reporting information

	Three Months Ended
	September 30,
	2020		2019
	(Unaudited)
	(In thousands)
Net Revenue:
Radio Broadcasting	$	31,645	$	46,467
Reach Media		7,751		10,917
Digital		8,451		8,170
Cable Television		44,746		45,981
Corporate/Eliminations*		(681)		(480)
Consolidated	$	91,912	$	111,055
Operating Expenses (including stock-based compensation and excluding depreciation and amortization and impairment of long-lived assets):
Radio Broadcasting	$	20,368	$	29,776
Reach Media		4,632		9,011
Digital		6,860		7,530
Cable Television		18,420		23,921
Corporate/Eliminations		6,125		7,107
Consolidated	$	56,405	$	77,345
Depreciation and Amortization:
Radio Broadcasting	$	759	$	791
Reach Media		59		60
Digital		483		474
Cable Television		934		953
Corporate/Eliminations		254		315
Consolidated	$	2,489	$	2,593
Impairment of Long-Lived Assets:
Radio Broadcasting	$	29,050	$	—
Reach Media		—		—
Digital		—		—
Cable Television		—		—
Corporate/Eliminations		—		—
Consolidated	$	29,050	$	—
Operating income:
Radio Broadcasting	$	(18,532)	$	15,900
Reach Media		3,060		1,846
Digital		1,108		166
Cable Television		25,392		21,107
Corporate/Eliminations		(7,060)		(7,902)
Consolidated	$	3,968	$	31,117

*  Intercompany revenue included in net revenue above is as follows:

Radio Broadcasting $ (681) $ (480)

Capital expenditures by segment are as follows:

Radio Broadcasting	$	306	$	1,406
Reach Media		9		31
Digital		180		348
Cable Television		8		15
Corporate/Eliminations		23		37
Consolidated	$	526	$	1,837

	Nine Months Ended
	September 30,
	2020		2019
	(Unaudited)
	(In thousands)
Net Revenue:
Radio Broadcasting	$	87,066	$	132,528
Reach Media		20,709		36,660
Digital		20,844		23,280
Cable Television		136,003		140,234
Corporate/Eliminations*		(1,827)		(1,627)
Consolidated	$	262,795	$	331,075
Operating Expenses (including stock-based compensation and excluding depreciation and amortization and impairment of long-lived assets):
Radio Broadcasting	$	67,373	$	89,142
Reach Media		15,468		30,955
Digital		19,778		22,310
Cable Television		55,772		75,284
Corporate/Eliminations		17,222		20,099
Consolidated	$	175,613	$	237,790
Depreciation and Amortization:
Radio Broadcasting	$	2,266	$	2,510
Reach Media		178		178
Digital		1,248		1,395
Cable Television		2,817		9,430
Corporate/Eliminations		910		938
Consolidated	$	7,419	$	14,451
Impairment of Long-Lived Assets:
Radio Broadcasting	$	82,700	$	3,800
Reach Media		—		—
Digital		—		—
Cable Television		—		—
Corporate/Eliminations		—		—
Consolidated	$	82,700	$	3,800
Operating (loss) income:
Radio Broadcasting	$	(65,273)	$	37,076
Reach Media		5,063		5,527
Digital		(182)		(425)
Cable Television		77,414		55,520
Corporate/Eliminations		(19,959)		(22,664)
Consolidated	$	(2,937)	$	75,034

*  Intercompany revenue included in net revenue above is as follows:

Radio Broadcasting $ (1,827) $ (1,627)

Capital expenditures by segment are as follows:

Radio Broadcasting	$	1,826	$	2,269
Reach Media		75		97
Digital		616		1,066
Cable Television		72		173
Corporate/Eliminations		587		342
Consolidated	$	3,176	$	3,947

	September 30, 2020		December 31, 2019
	(Unaudited)
	(In thousands)
Total Assets:
Radio Broadcasting	$	628,195	$	721,295
Reach Media		44,829		41,892
Digital		19,553		22,223
Cable Television		383,782		388,465
Corporate/Eliminations		134,178		76,044
Consolidated	$	1,210,537	$	1,249,919