SEGMENT INFORMATION:

6 Months Ended

Jun. 30, 2014

Segment Reporting [Abstract]

Segment Reporting Disclosure [Text Block]

8. 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, Tom Joyner Morning Show related activities and related activities and operations of the Syndication One urban programming line-up. The internet segment includes the results of our online business, including the operations of Interactive One. 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 three and six month periods ended June 30, 2014 and 2013, is presented in the following tables:

	Three Months Ended June 30,
	2014		2013
	(Unaudited)
	(In thousands)
Net Revenue:
Radio Broadcasting	$	55,773	$	58,759
Reach Media		10,099		18,015
Internet		5,909		6,434
Cable Television		37,984		37,729
Corporate/Eliminations/Other		(1,351)		(1,335)
Consolidated	$	108,414	$	119,602
Operating Expenses (including stock-based compensation and excluding depreciation and amortization and impairment of long-lived assets):
Radio Broadcasting	$	32,781	$	32,949
Reach Media		10,343		16,099
Internet		5,756		5,927
Cable Television		23,409		23,464
Corporate/Eliminations/Other		4,539		3,555
Consolidated	$	76,828	$	81,994
Depreciation and Amortization:
Radio Broadcasting	$	1,283	$	1,522
Reach Media		286		352
Internet		606		605
Cable Television		6,532		6,583
Corporate/Eliminations/Other		529		416
Consolidated	$	9,236	$	9,478
Impairment of Long-Lived Assets:
Radio Broadcasting	$	—	$	9,800
Reach Media		—		—
Internet		—		—
Cable Television		—		—
Corporate/Eliminations/Other		—		—
Consolidated	$	—	$	9,800
Operating income (loss):
Radio Broadcasting	$	21,709	$	14,488
Reach Media		(530)		1,564
Internet		(453)		(98)
Cable Television		8,043		7,682
Corporate/Eliminations/Other		(6,419)		(5,306)
Consolidated	$	22,350	$	18,330

	June 30, 2014		December 31, 2013
	(Unaudited)
	(In thousands)
Total Assets:
Radio Broadcasting	$	804,583	$	798,900
Reach Media		32,507		39,700
Internet		30,898		34,123
Cable Television		487,214		495,766
Corporate/Eliminations/Other		51,074		45,866
Consolidated	$	1,406,276	$	1,414,355

		Six Months Ended June 30,
		2014		2013
	(Unaudited)
	(In thousands)
Net Revenue:
Radio Broadcasting		$	105,408	$	108,616
Reach Media			26,815		27,556
Internet			12,353		11,486
Cable Television			77,678		73,721
Corporate/Eliminations/Other			(2,768)		(2,665)
Consolidated		$	219,486	$	218,714
Operating Expenses (including stock-based compensation and excluding depreciation and amortization and impairment of long-lived assets):
Radio Broadcasting		$	64,715	$	64,632
Reach Media			26,921		26,446
Internet			12,046		11,480
Cable Television			49,800		44,230
Corporate/Eliminations/Other			9,317		7,942
Consolidated		$	162,799	$	154,730
Depreciation and Amortization:
Radio Broadcasting		$	2,591	$	3,076
Reach Media			577		640
Internet			1,232		1,314
Cable Television			13,074		13,217
Corporate/Eliminations/Other			1,032		782
Consolidated		$	18,506	$	19,029
Impairment of Long-Lived Assets:
Radio Broadcasting		$	—	$	11,170
Reach Media			—		—
Internet			—		—
Cable Television			—		—
Corporate/Eliminations/Other			—		—
Consolidated		$	—	$	11,170
Operating income (loss):
Radio Broadcasting		$	38,102	$	29,738
Reach Media			(683)		470
Internet			(925)		(1,308)
Cable Television			14,804		16,274
Corporate/Eliminations/Other			(13,117)		(11,389)
Consolidated		$	38,181	$	33,785