SEGMENT INFORMATION

12 Months Ended

Dec. 31, 2011

SEGMENT INFORMATION

19.  SEGMENT INFORMATION:

The Company has four reportable segments: (i) Radio Broadcasting; (ii) Reach Media; (iii) Internet; and (iv) Cable Television. These segments operate in the United States and are consistently aligned with the Company’s management of its businesses and its financial reporting structure.

The Radio Broadcasting segment consists of all broadcast results of operations. The Company aggregates the broadcast markets in which it operates into the Radio Broadcasting segment. The Reach Media segment consists of the results of operations for the Tom Joyner Morning Show and related activities. The Internet segment includes the results of our online business, including the operations of Interactive One and CCI. The Cable Television segment consists of TV One’s results of operations. Corporate/Eliminations/Other represents financial activity associated with our corporate staff and offices and intercompany activity among the four segments.

Operating loss or income represents total revenues less operating expenses, depreciation and amortization, and impairment of long-lived assets. Intercompany revenue earned and expenses charged between segments are recorded at fair value and eliminated in consolidation.

The accounting policies described in the summary of significant accounting policies in Note 1 – Organization and Summary of Significant Accounting Policies are applied consistently across the segments.

Detailed segment data for the years ended December 31, 2011, 2010 and 2009 is presented in the following table:

	For the Years Ended December 31,
	2011			2010			2009
	(In thousands)
Net Revenue:
Radio Broadcasting	$	221,396		$	229,314		$	218,018
Reach Media		48,382			41,773			45,825
Internet		17,529			16,027			14,044
Cable Television		86,024			—			—
Corporate/Eliminations/Other		(8,722	)		(7,394	)		(6,010	)
Consolidated	$	364,609		$	279,720		$	271,877
Operating Expenses (including stock-based compensation):
Radio Broadcasting	$	138,961		$	135,809		$	125,414
Reach Media		41,426			34,817			32,026
Internet		20,062			22,737			23,046
Cable Television		61,369			—			—
Corporate/Eliminations/Other		17,905			17,636			10,560
Consolidated	$	279,723		$	210,999		$	191,046
Depreciation and Amortization:
Radio Broadcasting	$	6,705		$	7,080		$	9,383
Reach Media		3,952			4,249			3,934
Internet		3,694			4,942			6,408
Cable Television		21,790			—			—
Corporate/Eliminations/Other		928			1,114			1,239
Consolidated	$	37,069		$	17,385		$	20,964
Impairment of Long-Lived Assets:
Radio Broadcasting	$	14,509		$	19,949		$	65,937
Reach Media		7,822			16,114			—
Internet		—			—			—
Cable Television		—			—			—
Corporate/Eliminations/Other		—			—			—
Consolidated	$	22,331		$	36,063		$	65,937
Operating income (loss):
Radio Broadcasting	$	61,221		$	66,476		$	17,284
Reach Media		(4,818	)		(13,407	)		9,865
Internet		(6,227	)		(11,652	)		(15,410	)
Cable Television		2,865			—			—
Corporate/Eliminations/Other		(27,555	)		(26,144	)		(17,809	)
Consolidated	$	25,486		$	15,273		$	(6,070	)

	As of
	December 31, 2011		December 31, 2010
	(In thousands)
Total Assets:
Radio Broadcasting	$	806,822	$	846,260
Reach Media		33,737		47,900
Internet		33,265		33,698
Cable Television		561,325		—
Corporate/Eliminations/Other		51,333		71,354
Consolidated	$	1,486,482	$	999,212