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Segment Information (Tables)
3 Months Ended
Mar. 31, 2016
Segment Reporting [Abstract]  
Separate Financial Data for Each of Company's Operating Segment

Separate financial data for each of the Company’s operating segments are provided below. Segment operating profit (loss) is defined as operating profit (loss) before corporate expenses. There were no significant sources of revenue generated outside the United States during the three-month periods ended March 31, 2016 and 2015. The Company evaluates the performance of its operating segments based on the following (in thousands):

 

 

Three-Month Period

 

 

 

 

 

 

Ended March 31,

 

 

%

 

 

 

2016

 

 

 

2015

 

 

Change

 

Net revenue

 

 

 

 

 

 

 

 

 

 

 

Television

$

36,565

 

 

$

39,502

 

 

 

(7

)%

Radio

 

16,884

 

 

 

16,345

 

 

 

3

%

Digital

 

4,664

 

 

 

3,703

 

 

 

26

%

Consolidated

 

58,113

 

 

 

59,550

 

 

 

(2

)%

 

 

 

 

 

 

 

 

 

 

 

 

Cost of revenue - digital media

 

1,839

 

 

 

1,360

 

 

 

35

%

 

 

 

 

 

 

 

 

 

 

 

 

Direct operating expenses

 

 

 

 

 

 

 

 

 

 

 

Television

 

15,034

 

 

 

14,679

 

 

 

2

%

Radio

 

10,941

 

 

 

10,186

 

 

 

7

%

Digital

 

1,590

 

 

 

1,820

 

 

 

(13

)%

Consolidated

 

27,565

 

 

 

26,685

 

 

 

3

%

 

 

 

 

 

 

 

 

 

 

 

 

Selling, general and administrative expenses

 

 

 

 

 

 

 

 

 

 

 

Television

 

5,446

 

 

 

5,055

 

 

 

8

%

Radio

 

4,888

 

 

 

4,526

 

 

 

8

%

Digital

 

1,101

 

 

 

920

 

 

 

20

%

Consolidated

 

11,435

 

 

 

10,501

 

 

 

9

%

 

 

 

 

 

 

 

 

 

 

 

 

Depreciation and amortization

 

 

 

 

 

 

 

 

 

 

 

Television

 

2,867

 

 

 

2,795

 

 

 

3

%

Radio

 

790

 

 

 

869

 

 

 

(9

)%

Digital

 

370

 

 

 

298

 

 

 

24

%

Consolidated

 

4,027

 

 

 

3,962

 

 

 

2

%

 

 

 

 

 

 

 

 

 

 

 

 

Segment operating profit (loss)

 

 

 

 

 

 

 

 

 

 

 

Television

 

13,218

 

 

 

16,973

 

 

 

(22

)%

Radio

 

265

 

 

 

764

 

 

 

(65

)%

Digital

 

(236

)

 

 

(695

)

 

 

(66

)%

Consolidated

 

13,247

 

 

 

17,042

 

 

 

(22

)%

 

 

 

 

 

 

 

 

 

 

 

 

Corporate expenses

 

5,604

 

 

 

4,993

 

 

 

12

%

Operating income

 

7,643

 

 

 

12,049

 

 

 

(37

)%

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense

 

(3,866

)

 

 

(3,227

)

 

 

20

%

Interest income

 

7

 

 

 

8

 

 

 

(13

)%

Income before income taxes

$

3,784

 

 

$

8,830

 

 

 

(57

)%

 

 

 

 

 

 

 

 

 

 

 

 

Capital expenditures

 

 

 

 

 

 

 

 

 

 

 

Television

$

1,419

 

 

$

2,071

 

 

 

 

 

Radio

 

771

 

 

 

1,153

 

 

 

 

 

Digital

 

49

 

 

 

18

 

 

 

 

 

Consolidated

$

2,239

 

 

$

3,242

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

March 31,

 

 

December 31,

 

 

 

 

 

Total assets

 

2016

 

 

 

2015

 

 

 

 

 

Television

$

370,041

 

 

$

367,869

 

 

 

 

 

Radio

 

128,599

 

 

 

132,395

 

 

 

 

 

Digital

 

23,250

 

 

 

24,698

 

 

 

 

 

Consolidated

$

521,890

 

 

$

524,962