BUSINESS COMBINATIONS AND EXCHANGES (Tables)

12 Months Ended

Dec. 31, 2021

Business Combinations [Abstract]

Allocation of Purchase Price of Assets Acquired

The allocations presented in the table below are based upon management's estimate of the fair values using valuation techniques including income, cost and market approaches. The following preliminary purchase price allocations are based upon the valuation of assets and these estimates and assumptions are subject to change as the Company obtains additional information during the measurement period, which may be up to one year from the acquisition date. The final valuation could be substantially different from the initial estimate.

			Useful Lives in Years
	Preliminary Value		From	To
	(amounts in thousands)
Assets
Operating lease right-of-use assets	$	142
Net property and equipment	38		3	7
Other assets, net of accumulated amortization	39,532		3	15
Goodwill	520		non-amortizing
Total intangible and other assets	40,052
Operating lease liabilities	(142)
Preliminary fair value of net assets acquired	$	40,090

The Company's fair value analysis contains assumptions based on past experience, reflects expectations of industry observers and includes judgments about future performance using industry normalized information. The allocations presented in the table below are based upon management's estimate of the fair values using valuation techniques including income, cost and market approaches.

			Useful Lives in Years
	Preliminary Value		From	To
	(amounts in thousands)
Assets
Net property and equipment	$	2,254	0	40
Total tangible property	2,254
Radio broadcasting licenses	23,233		non-amortizing
Total intangible assets	$	23,233
Total assets	$	25,487

The allocations presented in the table below are based upon management's estimate of the fair values using valuation techniques including income, cost and market approaches. The following preliminary purchase price allocations are based upon the valuation of assets and these estimates and assumptions are subject to change as the Company obtains additional information during the measurement period, which may be up to one year from the acquisition date. The final valuation could be substantially different from the initial estimate.

	Preliminary Value		Measurement Period Adjustment		As Adjusted
	(amounts in thousands)
Assets
Cash	$	702	$	—	$	702
Prepaid expenses, deposits and other	18		—		18
Other assets, net of accumulated amortization	2,545		—		2,545
Goodwill	19,579		58		19,637
Deferred tax asset	72		—		72
Net working capital	95		(32)		63
Preliminary fair value of net assets acquired	$	23,011	$	26	$	23,037

The allocations presented in the table below are based upon management's estimate of the fair values using valuation techniques including income, cost and market approaches. The following table reflects the final allocation of the purchase price to the assets acquired and liabilities assumed.

			Useful Lives in Years
	Final Value		From	To
	(amounts in thousands)
Assets
Net property and equipment	$	8	3	7
Other assets, net of accumulated amortization	14,608		3	10
Goodwill	18,127		non-amortizing
Total intangible and other assets	32,735
Deferred tax liabilities	(1,152)
Net working capital	12
Preliminary fair value of net assets acquired	$	31,603

The allocations presented in the table below are based upon management's estimate of the fair values using valuation techniques including income, cost and market approaches. The following table reflects the final allocation of the purchase price to the assets acquired and liabilities assumed.

	Final Value
	(amounts in thousands)
Assets
Net property and equipment	$	654
Total tangible property	654
Operating lease right-of-use asset	62
Deferred tax asset	2,900
Other assets, net of accumulated amortization	5,977
Goodwill	31,392
Total intangible and other assets	40,331
Operating lease liabilities	(985)
Net working capital	(757)
Final fair value of net assets acquired	$	39,243

The allocations presented in the table below are based upon management's estimate of the fair values using valuation techniques including income, cost and market approaches. The following table reflects the final allocation of the purchase price to the assets acquired and liabilities assumed.

	Final Value
	(amounts in thousands)
Assets
Accounts receivable, net of allowance for doubtful accounts	$	997
Other assets, net of accumulated amortization	1,793
Goodwill	12,445
Total assets	15,235
Other current liabilities	238
Accounts payable	30
Total liabilities	$	268
Final fair value of net assets acquired	$	14,967

The allocations presented in the table below are based upon management's estimate of the fair values using valuation techniques including income, cost and market approaches. The following table reflects the final allocation of the purchase price to the assets acquired.

	Final Value
	(amounts in thousands)
Assets
Net property and equipment	$	844
Total tangible property	844
Radio broadcasting licenses	19,576
Goodwill	2,080
Total intangible and other assets	21,656
Total assets	$	22,500
Final fair value of net assets acquired	$	22,500

Pro Forma Information

These unaudited pro forma results have been prepared for comparative purposes only and do not purport to be indicative of what would have occurred had the acquisitions been made as of that date or results which may occur in the future.

	Years Ended December 31
	2021		2020		2019
	(amounts in thousands, except per share data)
	Pro Forma		Pro Forma		Pro Forma
Net revenues	$	1,223,008	$	1,069,040	$	1,530,523
Net income (loss)	$	(8,670)	$	(254,443)	$	(426,935)
Net income (loss) per common share - basic	$	(0.06)	$	(1.89)	$	(3.12)
Net income (loss) per common share - diluted	$	(0.06)	$	(1.89)	$	(3.12)
Weighted shares outstanding basic	135,981		134,571		136,967
Weighted shares outstanding diluted	135,981		134,571		136,967