XML 36 R26.htm IDEA: XBRL DOCUMENT v3.8.0.1
Segment Data (Tables)
9 Months Ended
Sep. 30, 2017
Segment Reporting [Abstract]  
Schedule of Segment Reporting Information, by Segment
The Company’s financial data by segment is presented in the tables below:    
 
 
Three Months Ended September 30, 2017
 
 
Radio Station Group
 
Westwood One
 
Corporate and Other
 
Consolidated
Net revenue
 
$
202,852

 
$
83,778

 
$
610

 
$
287,240


 
 
Three Months Ended September 30, 2016
 
 
Radio Station Group
 
Westwood One
 
Corporate and Other
 
Consolidated
Net revenue
 
$
206,199

 
$
79,413

 
$
524

 
$
286,136


 
 
Nine Months Ended September 30, 2017
 
 
Radio Station Group
 
Westwood One
 
Corporate and Other
 
Consolidated
Net revenue
 
$
585,050

 
$
254,867

 
$
1,884

 
$
841,801


 
 
Nine Months Ended September 30, 2016
 
 
Radio Station Group
 
Westwood One
 
Corporate and Other
 
Consolidated
Net revenue
 
$
592,640

 
$
247,507

 
$
1,712

 
$
841,859


 
Three Months Ended 
 September 30,
 
Nine Months Ended 
 September 30,
 
2017
 
2016
 
2017
 
2016
Adjusted EBITDA by segment
 
 
 
 
 
 
 
     Radio Station Group
$
54,660

 
$
56,237

 
$
153,571

 
$
159,278

     Westwood One
17,082

 
(2,689
)
 
42,993

 
17,998

Segment Adjusted EBITDA
71,742

 
53,548

 
196,564

 
177,276

Adjustments
 
 
 
 
 
 
 
     Corporate and other expense
(9,977
)
 
(9,664
)
 
(28,665
)
 
(28,278
)
     Income tax expense
(5,257
)
 
(32,788
)
 
(6,465
)
 
(24,904
)
     Non-operating expense, including net interest expense
(35,336
)
 
(33,908
)
 
(103,700
)
 
(101,934
)
     Local marketing agreement fees
(2,717
)
 
(2,481
)
 
(8,137
)
 
(10,351
)
     Depreciation and amortization
(15,208
)
 
(21,957
)
 
(47,610
)
 
(68,023
)
     Stock-based compensation expense
(354
)
 
(735
)
 
(1,422
)
 
(2,403
)
     Gain on sale of assets or stations
83

 
94,014

 
2,585

 
97,155

     Impairment of intangible assets

 

 

 
(1,816
)
     Loss on early extinguishment of debt
(1,063
)
 

 
(1,063
)
 

     Acquisition-related and restructuring costs
(499
)
 
450

 
(2,116
)
 
(3,237
)
     Franchise and state taxes
(140
)
 
(158
)
 
(420
)
 
(527
)
Consolidated net income
$
1,274

 
$
46,321

 
$
(449
)
 
$
32,958