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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
OPERATING ACTIVITIES:      
NET INCOME (LOSS) $ 233,849,000 $ 38,065,000 $ 29,184,000
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Depreciation and amortization 15,546,000 9,793,000 8,419,000
Amortization of deferred financing costs 1,371,000 2,897,000 3,203,000
Net deferred taxes (benefit) and other (263,551,000) 14,688,000 18,322,000
Tax benefit on exercise of options 0 0 0
Provision for bad debts 3,715,000 1,330,000 1,553,000
Net (gain) loss on sale or disposal of assets 11,853,000 (1,621,000) (2,364,000)
Non-cash stock-based compensation expense 9,567,000 6,539,000 5,524,000
Net (gain) loss on investments 0 0 0
Net (gain) loss on derivatives 0 0 0
Deferred rent 324,000 138,000 1,017,000
Unearned revenue - long-term 746,000 0 (10,000)
Net (gain) loss on extinguishment of debt 4,135,000 10,858,000 0
Deferred compensation 4,247,000 1,683,000 584,000
Tax benefit for vesting of restricted stock unit awards 0 0 0
Impairment loss 952,000 254,000 0
Net accretion expense for asset retirement obligations 37,000 27,000 13,000
Changes in assets and liabilities:      
Accounts receivable (14,127,000) (4,202,000) (4,027,000)
Prepaid expenses and deposits 14,267,000 (1,368,000) 642,000
Accounts payable and accrued liabilities 8,370,000 (739,000) 700,000
Accrued interest expense 4,169,000 40,000 769,000
Accrued liabilities - long-term (3,484,000) (1,894,000) 146,000
Prepaid expenses - long-term (2,874,000) (4,458,000) 1,115,000
Net cash provided by (used in) operating activities 29,112,000 72,030,000 64,790,000
INVESTING ACTIVITIES:      
Additions to property and equipment (20,530,000) (7,336,000) (7,043,000)
Proceeds from sale of property, equipment, intangibles and other assets 60,505,000 7,974,000 427,000
Purchases of radio station assets (24,000,000) (92,000) (83,553,000)
Payments To Acquire non-amortizable intangible assets 0 (112,000) (100,000)
Purchases of investments (9,700,000) 0 (9,000)
Proceeds from investments and capital projects 0 0 9,000
Consolidation of a VIE (302,000) 302,000 0
Payments to Acquire amortizable intangible assets (663,000) (241,000) (1,475,000)
Proceeds from Sale of radio stations 12,000,000 0 0
Net cash provided by (used in) investing activities 17,310,000 495,000 (91,744,000)
FINANCING ACTIVITIES:      
Proceeds from issuance of long-term debt 500,000,000 480,000,000 0
Proceeds from the financing method of lease obligations 0 102,000 0
Payments of long-term debt (669,750,000) (293,266,000) (51,250,000)
Retirement of senior subordinated notes 0 (220,000,000) 0
Purchase of the Company's common stock (10,042,000) 0 0
Proceeds from issuance of employee stock plan 182,000 379,000 0
Proceeds from the exercise of stock options 42,000 265,000 35,000
Purchase of vested employee restricted stock units (2,565,000) (2,268,000) (1,562,000)
Payment of dividend equivalents on vested restricted stock units (1,556,000) (94,000) (7,000)
Payment of dividends on common stock (29,296,000) (8,666,000) 0
Payment of fees associated with the issuance of preferred stock 0 0 (220,000)
Payments of dividends on preferred stock (2,574,000) (1,788,000) (413,000)
ProceedsFromShortTermDebt 200,500,000 24,500,000 58,000,000
PaymentsOfDebtIssuanceCosts (16,302,000) (8,038,000) 0
PaymentsOfDebtExtinguishmentCosts 0 (5,977,000) 0
Payments for early retirement of Preferred (27,737,000) 0 0
Net cash provided by (used in) financing activities (59,098,000) (34,851,000) 4,583,000
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS (12,676,000) 37,674,000 (22,371,000)
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR 46,843,000 9,169,000 31,540,000
CASH AND CASH EQUIVALENTS, END OF PERIOD 34,167,000 46,843,000 9,169,000
Cash paid during the period for:      
Interest 24,813,000 34,568,000 34,822,000
Income taxes 2,030,000 381,000 81,000
Dividends on common stock 29,296,000 8,666,000 0
Dividends on preferred stock $ 2,574,000 $ 1,788,000 $ 413,000