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Segment Data (Tables)
12 Months Ended
Dec. 31, 2018
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

 

 

 

 

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.