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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
CASH FLOWS FROM OPERATING ACTIVITIES:    
Consolidated net (loss) income $ (33,693,000) $ 9,845,000
Adjustments to reconcile net (loss) income to net cash provided by operating activities:    
Depreciation and amortization 7,419,000 14,451,000
Amortization of debt financing costs 3,248,000 2,893,000
Amortization of content assets 27,607,000 34,167,000
Amortization of launch assets 770,000 772,000
Deferred income taxes (21,849,000) 8,874,000
Amortization of right of use assets 5,974,000 5,184,000
Non-cash lease liability expense 3,692,000 4,095,000
Non-cash interest expense 1,614,000 1,513,000
Impairment of long-lived assets 82,700,000 3,800,000
Stock-based compensation 1,455,000 2,592,000
Effect of change in operating assets and liabilities, net of assets acquired:    
Trade accounts receivable 13,791,000 7,258,000
Prepaid expenses and other current assets 6,342,000 (2,567,000)
Other assets (10,764,000) (4,270,000)
Accounts payable 480,000 (2,072,000)
Accrued interest 5,371,000 7,729,000
Accrued compensation and related benefits (5,416,000) (6,538,000)
Other liabilities 452,000 (38,000)
Payments for content assets (24,750,000) (36,640,000)
Net cash flows provided by operating activities 64,443,000 51,048,000
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchases of property and equipment (3,176,000) (3,947,000)
Proceeds from sale of radio station 0 13,500,000
Acquisition of broadcasting assets (475,000) 0
Net cash flows (used in) provided by investing activities (3,651,000) 9,553,000
CASH FLOWS FROM FINANCING ACTIVITIES:    
Distribution of contingent consideration 0 (658,000)
Repayment of Comcast Note 0 (11,872,000)
Proceeds of Asset-backed credit facility, net 27,500,000 0
Proceeds from issuance of Class A common stock, net of fees 14,772,000 0
Proceeds of MGM National Harbor Loan 3,600,000 0
Proceeds from exercise of stock options 1,976,000 29,000
Repayment of 2020 Notes 0 (2,037,000)
Payment of dividends to noncontrolling interest members of Reach Media (1,000,000) (1,000,000)
Repurchase of common stock (3,607,000) (5,323,000)
Net cash flows provided by (used in) financing activities 8,358,000 (44,588,000)
INCREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH 69,150,000 16,013,000
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, beginning of period 33,546,000 15,890,000
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, end of period 102,696,000 31,903,000
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:    
Cash paid for: Interest 45,542,000 49,512,000
Income taxes, net of refunds 509,000 458,000
NON-CASH OPERATING, FINANCING AND INVESTING ACTIVITIES:    
Issuance of common stock 0 1,609,000
Right of use asset additions upon adoption of ASC 842 0 49,803,000
Lease liability additions upon adoption of ASC 842 0 54,113,000
Right of use asset and lease liability additions 5,483,000 1,341,000
2018 Credit Facility    
CASH FLOWS FROM FINANCING ACTIVITIES:    
Repayment of credit facility (32,410,000) (21,254,000)
2017 Credit Facility    
CASH FLOWS FROM FINANCING ACTIVITIES:    
Repayment of credit facility $ (2,473,000) $ (2,473,000)