The Company’s management has determined that the Company operates in three reportable segments as of December 31, 2018, based upon the type of advertising medium, which segments are television broadcasting, radio broadcasting, and digital media. The Company’s segments results reflect information presented on the same basis that is used for internal management reporting and it is also how the chief operating decision maker evaluates the business.

The Company owns and/or operates 55 primary television stations located primarily in California, Colorado, Connecticut, Florida, Kansas, Massachusetts, Nevada, New Mexico, Texas and Washington, D.C. The Company generates revenue from advertising, retransmission consent agreements and the monetization of spectrum usage rights in these markets.

The Company owns and operates 49 radio stations (38 FM and 11 AM) located primarily in Arizona, California, Colorado, Florida, Nevada, New Mexico and Texas.

The Company owns and operates a national sales representation division, Entravision Solutions, through which the Company sells advertisements and syndicates radio programming to more than 100 markets across the United States.

The Company owns and operates digital media operations, offering mobile, digital and other interactive media platforms and services on Internet-connected devices, including local websites and social media, which provide users with news information and other content.

On April 4, 2017, the Company completed the acquisition of Headway, a provider of mobile, programmatic, data and performance digital marketing solutions primarily in the United States, Mexico and other markets in Latin America (see Note 5).

Segment operating profit (loss) is defined as operating profit (loss) before corporate expenses and foreign currency (gain) loss. The Company generated 18% and 7% and of its revenue outside the United States during the years ended December 31, 2018 and 2017, respectively. There were no significant sources of revenue generated outside the United States during the year ended December 31, 2016.

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
		2018			2017			2016	2018 to 2017			2017 to 2016
Net Revenue
Revenue from advertising and retransmission consent
Television	$	149,935		$	148,059		$	159,523		1	%		(7	)%
Radio		63,922			66,934			75,847		(4	)%		(12	)%
Digital		80,982			57,098			23,144		42	%		147	%
Total		294,839			272,091			258,514		8	%		5	%
Revenue from spectrum usage rights (television)		2,976			263,943			—		(99	)%	*
Consolidated		297,815			536,034			258,514		(44	)%		107	%
Cost of revenue - television (spectrum usage rights)		—			12,340			—	*			*
Cost of revenue - digital media (1)		45,096			32,998			9,536		37	%		246	%
Direct operating expenses
Television		62,434			59,454			62,020		5	%		(4	)%
Radio		41,287			44,572			44,949		(7	)%		(1	)%
Digital		21,521			15,257			6,470		41	%		136	%
Consolidated		125,242			119,283			113,439		5	%		5	%
Selling, general and administrative expenses
Television		21,864			22,276			21,591		(2	)%		3	%
Radio		18,081			18,743			20,441		(4	)%		(8	)%
Digital		11,590			8,097			4,766		43	%		70	%
Consolidated		51,535			49,116			46,798		5	%		5	%
Depreciation and amortization
Television		9,024			9,760			10,659		(8	)%		(8	)%
Radio		2,490			2,673			3,269		(7	)%		(18	)%
Digital		4,759			3,978			1,414		20	%		181	%
Consolidated		16,273			16,411			15,342		(1	)%		7	%
Segment operating profit (loss)
Television		59,589			308,172			65,253		(81	)%		372	%
Radio		2,064			946			7,188		118	%		(87	)%
Digital (1)		(1,984	)		(3,232	)		958		(39	)%	*
Consolidated (1)		59,669			305,886			73,399		(80	)%		317	%
Corporate expenses		26,865			27,937			24,543		(4	)%		14	%
Change in fair value contingent consideration		(1,202	)		—			—	*			*
Foreign currency (gain) loss		1,616			350			—		362	%	*
Other operating (gain) loss		(1,187	)		(262	)		—		353	%	*
Operating income (1)	$	33,577		$	277,861		$	48,856		(88	)%		469	%
Capital expenditures
Television	$	14,336		$	10,945		$	5,744
Radio		350			1,679			3,287
Digital		1,031			64			277
Consolidated	$	15,717		$	12,688		$	9,308
Total assets
Television	$	487,929		$	556,942		$	363,852
Radio		121,020			126,248			129,825
Digital (1)		81,460			82,949			24,244
Consolidated (1)	$	690,409		$	766,139		$	517,921

(1)	Amount reported as of and for the year ended December 31, 2017 has been revised. See Note 3.