XML 14 R4.htm IDEA: XBRL DOCUMENT v3.23.3
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Income Statement [Abstract]        
NET REVENUES $ 299,166 $ 316,969 $ 857,314 $ 911,703
OPERATING EXPENSE:        
Station operating expenses 255,989 260,031 756,038 746,936
Depreciation and amortization expense 18,310 18,345 53,327 47,455
Corporate general and administrative expenses 32,556 21,160 83,734 72,774
Restructuring charges 1,272 4,216 12,204 6,118
Impairment loss 272,656 176,784 403,061 180,075
Net gain on sale or disposal (24) (10,665) (22,305) (13,228)
Change in fair value of contingent consideration 0 (1,098) 0 (8,802)
Other expenses 74 72 426 474
Total operating expense 580,833 468,845 1,286,485 1,031,802
OPERATING LOSS (281,667) (151,876) (429,171) (120,099)
NET INTEREST EXPENSE 36,011 28,113 102,940 76,113
Other income 0 0 0 (238)
OTHER INCOME 0 0 0 (238)
LOSS BEFORE TAX BENEFIT (317,678) (179,989) (532,111) (195,974)
TAX BENEFIT (83,345) (39,014) (136,075) (43,153)
Net loss $ (234,333) $ (140,975) $ (396,036) $ (152,821)
NET LOSS PER SHARE - BASIC (in dollars per share) $ (49.64) $ (30.35) $ (84.29) $ (32.92)
NET LOSS PER SHARE - DILUTED (in dollars per share) $ (49.64) $ (30.35) $ (84.29) $ (32.92)
WEIGHTED AVERAGE SHARES:        
Basic (in shares) 4,720,371 4,645,375 4,698,242 4,641,546
Diluted (in shares) 4,720,371 4,645,375 4,698,242 4,641,546