SEGMENT INFORMATION

12 Months Ended

Dec. 31, 2018

Segment Reporting [Abstract]

Segment Reporting Disclosure [Text Block]

15.  SEGMENT INFORMATION:

The Company has four reportable segments: (i) radio broadcasting; (ii) Reach Media; (iii) digital; 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 digital segment includes the results of our online business, including the operations of Interactive One, as well as the digital components of our other reportable segments. The cable television segment consists of the Company’s cable TV operation, including TV One’s results of operations. Corporate/Eliminations 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 years ended December 31, 2018 and 2017 is presented in the following table:

	For the Years Ended December 31,
	2018			2017
	(In thousands)
Net Revenue:
Radio Broadcasting	$	182,765		$	176,716
Reach Media		42,984			45,529
Digital		31,577			30,754
Cable Television		184,298			187,480
Corporate/Eliminations*		(2,526	)		(438	)
Consolidated	$	439,098		$	440,041
Operating Expenses (including stock-based compensation and excluding depreciation and amortization and impairment of long-lived assets):
Radio Broadcasting	$	117,427		$	111,813
Reach Media		36,064			41,251
Digital		37,617			32,254
Cable Television		99,104			104,802
Corporate/Eliminations		20,801			34,038
Consolidated	$	311,013		$	324,158
Depreciation and Amortization:
Radio Broadcasting	$	3,484		$	3,761
Reach Media		250			214
Digital		1,907			2,153
Cable Television		26,259			26,263
Corporate/Eliminations		1,289			1,625
Consolidated	$	33,189		$	34,016
Impairment of Long-Lived Assets:
Radio Broadcasting	$	21,256		$	29,148
Reach Media		—			—
Digital		—			—
Cable Television		—			—
Corporate/Eliminations		—			—
Consolidated	$	21,256		$	29,148
Operating income (loss):
Radio Broadcasting	$	40,598		$	31,994
Reach Media		6,670			4,064
Digital		(7,947	)		(3,653	)
Cable Television		58,935			56,415
Corporate/Eliminations		(24,616	)		(36,101	)
Consolidated	$	73,640		$	52,719

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

Radio Broadcasting	$	(2,526	)	$	(438	)
Capital expenditures by segment are as follows:
Radio Broadcasting	$	3,876		$	4,131
Reach Media		114			380
Digital		1,197			1,213
Cable Television		570			275
Corporate/Eliminations		1,429			1,675
Consolidated	$	7,186		$	7,674

	As of
	December 31, 2018		December 31, 2017
	(In thousands)
Total Assets:
Radio Broadcasting	$	717,400	$	751,664
Reach Media		34,388		39,928
Digital		24,389		28,407
Cable Television		402,511		435,031
Corporate/Eliminations		58,721		61,725
Consolidated	$	1,237,409	$	1,316,755