SEGMENT INFORMATION

3 Months Ended

Mar. 31, 2016

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 Reach Media segment consists of the results of operations for the Tom Joyner Morning Show and related activities and operations of other syndicated shows. 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 estimated 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 months ended March 31, 2016 and 2015, is presented in the following tables:

	Three Months Ended March 31,
	2016		2015
	(Unaudited)
	(In thousands)
			(As reclassified)
Net Revenue:
Radio Broadcasting	$	44,759	$	44,969
Reach Media		10,970		10,707
Internet		5,420		5,744
Cable Television		49,483		45,733
Corporate/Eliminations/Other*		(1,544)		(1,390)
Consolidated	$	109,088	$	105,763
Operating Expenses (including stock-based compensation and excluding depreciation and amortization and impairment of long-lived assets):
Radio Broadcasting	$	29,530	$	31,535
Reach Media		8,784		8,701
Internet		5,212		5,710
Cable Television		30,976		29,789
Corporate/Eliminations/Other		7,096		5,347
Consolidated	$	81,598	$	81,082
Depreciation and Amortization:
Radio Broadcasting	$	1,144	$	1,156
Reach Media		42		263
Internet		444		640
Cable Television		6,553		6,504
Corporate/Eliminations/Other		499		525
Consolidated	$	8,682	$	9,088
Operating income (loss):
Radio Broadcasting	$	14,085	$	12,278
Reach Media		2,144		1,743
Internet		(236)		(606)
Cable Television		11,954		9,440
Corporate/Eliminations/Other		(9,139)		(7,262)
Consolidated	$	18,808	$	15,593

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

Radio Broadcasting	$	(282)	$	(888)
Reach Media		(446)		(253)
Internet		(807)		(868)
TV One		(9)		—

Capital expenditures by segment are as follows:

Radio Broadcasting	$	403	$	2,183
Reach Media		117		176
Internet		462		404
Cable Television		108		46
Corporate/Eliminations/Other		159		115
Consolidated	$	1,249	$	2,924

	March 31, 2016		December 31, 2015
	(Unaudited)
	(In thousands)
Total Assets:
Radio Broadcasting	$	780,185	$	781,022
Reach Media		41,522		36,989
Internet		17,196		18,427
Cable Television		441,276		445,660
Corporate/Eliminations/Other		62,611		64,426
Consolidated	$	1,342,790	$	1,346,524