XML 23 R4.htm IDEA: XBRL DOCUMENT v3.8.0.1
Consolidated Statements of Operations - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Income Statement [Abstract]      
Net revenue $ 1,135,662 $ 1,141,400 $ 1,168,679
Operating expenses:      
Content costs 402,978 427,780 396,426
Selling, general & administrative expenses 477,535 472,900 477,327
Depreciation and amortization 62,239 87,267 102,105
LMA fees 10,884 12,824 10,129
Corporate expenses (including stock-based compensation expense of $1,614, $2,948, and $21,033, respectively) 59,062 40,148 73,403
(Gain) loss on sale of assets or stations (2,499) (95,695) 2,856
Impairment of intangible assets and goodwill 335,909 604,965 565,584
Impairment charges - equity interest in Pulser Media Inc. 0 0 19,364
Total operating expenses 1,346,108 1,550,189 1,647,194
Operating loss (210,446) (408,789) (478,515)
Non-operating expense:      
Reorganization items, net (31,603) 0 0
Interest expense (126,952) (138,634) (141,679)
Interest income 136 493 433
(Loss) gain on early extinguishment of debt (1,063) 8,017 13,222
Other (expense) income, net (363) 2,039 14,205
Total non-operating expense, net (159,845) (128,085) (113,819)
Loss before income taxes (370,291) (536,874) (592,334)
Income tax benefit 163,726 26,154 45,840
Net loss $ (206,565) $ (510,720) $ (546,494)
Basic and diluted loss per common share (see Note 13, “Loss Per Share”):      
Basic: (Loss) income per share (in USD per share) $ (7.05) $ (17.45) $ (18.72)
Diluted: (Loss) income per share (in USD per share) $ (7.05) $ (17.45) $ (18.72)
Weighted average basic common shares outstanding (in shares) 29,306,374 29,270,455 29,176,930
Weighted average diluted common shares outstanding (in shares) 29,306,374 29,270,455 29,176,930