XML 18 R4.htm IDEA: XBRL DOCUMENT v3.19.3
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Income Statement Abstract        
NET REVENUES $ 386,141 $ 378,508 $ 1,075,811 $ 1,051,192
OPERATING EXPENSE:        
Station operating expenses 273,112 279,651 801,267 811,214
Depreciation and amortization expense 11,183 10,608 33,252 29,745
Corporate general and administrative expenses 19,412 15,897 57,662 53,598
Integration Costs 689 2,761 3,280 21,984
Restructuring Charges 1,577 852 5,953 3,019
Impairment loss 0 0 0 28,988
Merger and acquisition costs 434 697 476 2,768
Other expenses related to financing 0 0 1,864 0
Net time brokerage agreement (income) fees 13 (150) 106 (1,242)
Net (gain) loss on sale or disposal of assets 231 (10,541) (2,683) (10,856)
Total operating expense 306,651 299,775 901,177 939,218
OPERATING INCOME (LOSS) 79,490 78,733 174,634 111,974
OTHER (INCOME) EXPENSE:        
Net interest expense 25,256 25,923 75,420 75,033
Net (gain) loss on extinguishment of debt 0 0 1,781 0
Other income 0 0 1,781 0
INCOME (LOSS) BEFORE INCOME TAXES (BENEFIT) 54,234 52,810 97,433 36,941
INCOME TAXES (BENEFIT) 16,026 16,220 30,110 12,960
NET INCOME (LOSS) AVAILABLE TO THE COMPANY - CONTINUING OPERATIONS $ 38,208 $ 36,590 $ 67,323 $ 23,981
NET INCOME (LOSS) AVAILABLE TO COMMON SHAREHOLDERS PER SHARE - DILUTED $ 0.28 $ 0.27 $ 0.49 $ 0.18
Income Loss From Discontinued Operations Net Of Tax $ 0 $ 358 $ 0 $ 1,530
NET INCOME (LOSS) $ 38,208 $ 36,948 $ 67,323 $ 25,511
NET INCOME (LOSS) AVAILABLE TO COMMON SHAREHOLDERS PER SHARE - BASIC        
Net income (loss) from continuing operations per share available to common shareholders - Basic $ 0.28 $ 0.26 $ 0.49 $ 0.17
Net income (loss) from discontinued operations per share available to common shareholders - Basic 0 0 0 0.01
NET INCOME (LOSS) AVAILABLE TO COMMON SHAREHOLDERS PER SHARE - BASIC 0.28 0.27 0.49 0.18
NET INCOME (LOSS) AVAILABLE TO COMMON SHAREHOLDERS PER SHARE - DILUTED        
Net income (loss) from continuing operations per share available to common shareholders - Diluted 0.28 0.26 0.49 0.17
Net income (loss) from discontinued operations per share available to common shareholders - Diluted $ 0 $ 0 $ 0 $ 0.01
NET INCOME (LOSS) AVAILABLE TO COMMON SHAREHOLDERS- CONTINUING OPERATIONS $ 38,208 $ 36,590 $ 67,323 $ 23,981
WEIGHTED AVERAGE SHARES:        
Basic 136,449,453 138,740,243 137,944,486 138,901,037
Diluted weighted average shares outstanding 136,452,995 139,102,560 138,295,091 139,684,890