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Segment Data (Tables)
12 Months Ended
Dec. 31, 2017
Segment Reporting [Abstract]  
Separate Financial Data for Each of Company's Operating Segment

The accounting policies applied to determine the segment information are generally the same as those described in the summary of significant accounting policies (see Note 2). The Company evaluates the performance of its operating segments based on separate financial data for each operating segment as provided below (in thousands):

 

 

 

Years Ended December 31,

 

 

% Change

 

 

% Change

 

 

 

 

2017

 

 

 

2016

 

 

 

2015

 

 

2017 to 2016

 

 

2016 to 2015

 

Net Revenue

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Revenue from advertising and retransmission consent

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Television

 

$

148,059

 

 

$

159,523

 

 

$

148,431

 

 

 

(7

)%

 

 

7

%

Radio

 

 

66,934

 

 

 

75,847

 

 

 

76,161

 

 

 

(12

)%

 

 

(0

)%

Digital

 

 

57,098

 

 

 

23,144

 

 

 

18,892

 

 

 

147

%

 

 

23

%

Total

 

 

272,091

 

 

 

258,514

 

 

 

243,484

 

 

 

5

%

 

 

6

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Revenue from spectrum usage rights (television)

 

 

263,943

 

 

 

 

 

 

10,650

 

 

*

 

 

*

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Consolidated

 

 

536,034

 

 

 

258,514

 

 

 

254,134

 

 

 

107

%

 

 

2

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cost of revenue - television (spectrum usage rights)

 

 

12,340

 

 

 

 

 

 

 

 

*

 

 

*

 

Cost of revenue - digital media

 

 

32,206

 

 

 

9,536

 

 

 

7,242

 

 

 

238

%

 

 

32

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Direct operating expenses

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Television

 

 

59,454

 

 

 

62,020

 

 

 

60,125

 

 

 

(4

)%

 

 

3

%

Radio

 

 

44,572

 

 

 

44,949

 

 

 

43,351

 

 

 

(1

)%

 

 

4

%

Digital

 

 

15,257

 

 

 

6,470

 

 

 

6,847

 

 

 

136

%

 

 

(6

)%

Consolidated

 

 

119,283

 

 

 

113,439

 

 

 

110,323

 

 

 

5

%

 

 

3

%

Selling, general and administrative expenses

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Television

 

 

22,276

 

 

 

21,591

 

 

 

20,541

 

 

 

3

%

 

 

5

%

Radio

 

 

18,743

 

 

 

20,441

 

 

 

18,619

 

 

 

(8

)%

 

 

10

%

Digital

 

 

8,097

 

 

 

4,766

 

 

 

3,655

 

 

 

70

%

 

 

30

%

Consolidated

 

 

49,116

 

 

 

46,798

 

 

 

42,815

 

 

 

5

%

 

 

9

%

Depreciation and amortization

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Television

 

 

9,760

 

 

 

10,659

 

 

 

11,569

 

 

 

(8

)%

 

 

(8

)%

Radio

 

 

2,673

 

 

 

3,269

 

 

 

3,224

 

 

 

(18

)%

 

 

1

%

Digital

 

 

3,978

 

 

 

1,414

 

 

 

1,196

 

 

 

181

%

 

 

18

%

Consolidated

 

 

16,411

 

 

 

15,342

 

 

 

15,989

 

 

 

7

%

 

 

(4

)%

Segment operating profit (loss)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Television

 

 

308,172

 

 

 

65,253

 

 

 

66,846

 

 

 

372

%

 

 

(2

)%

Radio

 

 

946

 

 

 

7,188

 

 

 

10,967

 

 

 

(87

)%

 

 

(34

)%

Digital

 

 

(2,440

)

 

 

958

 

 

 

(48

)

 

*

 

 

*

 

Consolidated

 

 

306,678

 

 

 

73,399

 

 

 

77,765

 

 

 

318

%

 

 

(6

)%

Corporate expenses

 

 

27,937

 

 

 

24,543

 

 

 

22,520

 

 

 

14

%

 

 

9

%

Foreign currency (gain) loss

 

 

350

 

 

 

 

 

 

 

 

*

 

 

*

 

Operating income

 

$

278,391

 

 

$

48,856

 

 

$

55,245

 

 

 

470

%

 

 

(12

)%

Capital expenditures

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Television

 

$

10,945

 

 

$

5,744

 

 

$

7,631

 

 

 

 

 

 

 

 

 

Radio

 

 

1,679

 

 

 

3,287

 

 

 

5,532

 

 

 

 

 

 

 

 

 

Digital

 

 

64

 

 

 

277

 

 

 

385

 

 

 

 

 

 

 

 

 

Consolidated

 

$

12,688

 

 

$

9,308

 

 

$

13,548

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total assets

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Television

 

$

556,942

 

 

$

363,852

 

 

$

367,869

 

 

 

 

 

 

 

 

 

Radio

 

 

126,248

 

 

 

129,825

 

 

 

132,395

 

 

 

 

 

 

 

 

 

Digital

 

 

82,777

 

 

 

24,244

 

 

 

24,698

 

 

 

 

 

 

 

 

 

Consolidated

 

$

765,967

 

 

$

517,921

 

 

$

524,962