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Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Net Revenue $ 68,816 $ 74,575 $ 202,737 $ 215,742
Expenses:        
Direct operating expenses (including related parties of $2,048, $2,175, $6,017 and $6,431) (including non-cash stock-based compensation of $74, $156, $324 and $448) 30,807 31,694 89,392 93,844
Selling, general and administrative expenses 12,457 12,398 39,816 38,365
Corporate expenses (including non-cash stock-based compensation of $745, $1,130, $2,130 and $3,263) 6,785 6,913 20,180 19,154
Depreciation and amortization (includes direct operating of $2,888, $2,504, $8,350 and $7,606; selling, general and administrative of $1,134, $1,434, $3,579 and $4,048; and corporate of $168, $156, $483 and $398) (including related parties of $306, $308, $921 and $922) 4,190 4,094 12,412 12,052
Change in fair value contingent consideration   (114) (2,376) 1,073
Impairment charge 9,075   31,443  
Foreign currency (gain) loss 927 335 977 531
Other operating (gain) loss (1,572) (327) (5,165) (622)
Operating income (loss) (3,795) 6,342 (10,385) 16,096
Interest expense (3,537) (3,995) (10,581) (11,394)
Interest income 825 933 2,601 2,885
Dividend income 241 457 747 1,002
Income (loss) before income taxes (6,266) 3,737 (17,618) 8,589
Income tax benefit (expense) (5,920) (1,443) (9,265) (3,164)
Income (loss) before equity in net income (loss) of nonconsolidated affiliate (12,186) 2,294 (26,883) 5,425
Equity in net income (loss) of nonconsolidated affiliate, net of tax (31) (79) (189) (177)
Net income (loss) $ (12,217) $ 2,215 $ (27,072) $ 5,248
Basic and diluted earnings per share:        
Net income (loss) per share, basic and diluted $ (0.14) $ 0.02 $ (0.32) $ 0.06
Cash dividends declared per common share $ 0.05 $ 0.05 $ 0.15 $ 0.15
Weighted average common shares outstanding, basic 84,765,694 88,852,342 85,404,250 89,371,750
Weighted average common shares outstanding, diluted 84,765,694 90,122,425 85,404,250 90,574,663
Digital Media        
Net Revenue $ 17,612 $ 22,431 $ 48,888 $ 61,233
Expenses:        
Cost of revenue 9,942 13,240 26,443 35,249
Direct operating expenses (including related parties of $2,048, $2,175, $6,017 and $6,431) (including non-cash stock-based compensation of $74, $156, $324 and $448) 5,214 5,977 14,679 15,930
Selling, general and administrative expenses 2,751 2,977 9,491 8,313
Depreciation and amortization (includes direct operating of $2,888, $2,504, $8,350 and $7,606; selling, general and administrative of $1,134, $1,434, $3,579 and $4,048; and corporate of $168, $156, $483 and $398) (including related parties of $306, $308, $921 and $922) $ 1,112 $ 1,252 $ 3,609 $ 3,489