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Segment Data (Tables)
12 Months Ended
Dec. 31, 2019
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

 

 

 

 

2019

 

 

 

2018

 

 

 

2017

 

 

2019 to 2018

 

 

2018 to 2017

 

Net Revenue

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Revenue from advertising and retransmission consent

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Television

 

$

136,593

 

 

$

149,935

 

 

$

148,059

 

 

 

(9

)%

 

 

1

%

Radio

 

 

55,013

 

 

 

63,922

 

 

 

66,934

 

 

 

(14

)%

 

 

(4

)%

Digital

 

 

68,908

 

 

 

80,982

 

 

 

57,098

 

 

 

(15

)%

 

 

42

%

Total

 

 

260,514

 

 

 

294,839

 

 

 

272,091

 

 

 

(12

)%

 

 

8

%

Revenue from spectrum usage rights (television)

 

 

13,061

 

 

 

2,976

 

 

 

263,943

 

 

 

339

%

 

 

(99

)%

Consolidated

 

 

273,575

 

 

 

297,815

 

 

 

536,034

 

 

 

(8

)%

 

 

(44

)%

Cost of revenue - television (spectrum usage rights)

 

 

 

 

 

 

 

 

12,340

 

 

*

 

 

 

(100

)%

Cost of revenue - digital media

 

 

36,757

 

 

 

45,096

 

 

 

32,998

 

 

 

(18

)%

 

 

37

%

Direct operating expenses

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Television

 

 

61,778

 

 

 

62,434

 

 

 

59,454

 

 

 

(1

)%

 

 

5

%

Radio

 

 

39,277

 

 

 

41,287

 

 

 

44,572

 

 

 

(5

)%

 

 

(7

)%

Digital

 

 

18,357

 

 

 

21,521

 

 

 

15,257

 

 

 

(15

)%

 

 

41

%

Consolidated

 

 

119,412

 

 

 

125,242

 

 

 

119,283

 

 

 

(5

)%

 

 

5

%

Selling, general and administrative expenses

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Television

 

 

22,638

 

 

 

21,864

 

 

 

22,276

 

 

 

4

%

 

 

(2

)%

Radio

 

 

17,423

 

 

 

18,081

 

 

 

18,743

 

 

 

(4

)%

 

 

(4

)%

Digital

 

 

13,904

 

 

 

11,590

 

 

 

8,097

 

 

 

20

%

 

 

43

%

Consolidated

 

 

53,965

 

 

 

51,535

 

 

 

49,116

 

 

 

5

%

 

 

5

%

Depreciation and amortization

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Television

 

 

10,059

 

 

 

9,024

 

 

 

9,760

 

 

 

11

%

 

 

(8

)%

Radio

 

 

1,866

 

 

 

2,490

 

 

 

2,673

 

 

 

(25

)%

 

 

(7

)%

Digital

 

 

4,723

 

 

 

4,759

 

 

 

3,978

 

 

 

(1

)%

 

 

20

%

Consolidated

 

 

16,648

 

 

 

16,273

 

 

 

16,411

 

 

 

2

%

 

 

(1

)%

Segment operating profit (loss)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Television

 

 

55,179

 

 

 

59,589

 

 

 

308,172

 

 

 

(7

)%

 

 

(81

)%

Radio

 

 

(3,553

)

 

 

2,064

 

 

 

946

 

 

*

 

 

 

118

%

Digital

 

 

(4,833

)

 

 

(1,984

)

 

 

(3,232

)

 

 

144

%

 

 

(39

)%

Consolidated

 

 

46,793

 

 

 

59,669

 

 

 

305,886

 

 

 

(22

)%

 

 

(80

)%

Corporate expenses

 

 

28,067

 

 

 

26,865

 

 

 

27,937

 

 

 

4

%

 

 

(4

)%

Change in fair value of contingent consideration

 

 

(6,478

)

 

 

(1,202

)

 

 

 

 

 

439

%

 

*

 

Impairment charge

 

 

32,097

 

 

 

 

 

 

 

 

*

 

 

*

 

Foreign currency (gain) loss

 

 

754

 

 

 

1,616

 

 

 

350

 

 

 

(53

)%

 

 

362

%

Other operating (gain) loss

 

 

(5,994

)

 

 

(1,187

)

 

 

(262

)

 

 

405

%

 

 

353

%

Operating income (loss)

 

$

(1,653

)

 

$

33,577

 

 

$

277,861

 

 

*

 

 

 

(88

)%

Capital expenditures

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Television

 

$

24,174

 

 

$

14,336

 

 

$

10,945

 

 

 

 

 

 

 

 

 

Radio

 

 

792

 

 

 

350

 

 

 

1,679

 

 

 

 

 

 

 

 

 

Digital

 

 

318

 

 

 

1,031

 

 

 

64

 

 

 

 

 

 

 

 

 

Consolidated

 

$

25,284

 

 

$

15,717

 

 

$

12,688

 

 

 

 

 

 

 

 

 

Total assets

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Television

 

$

465,758

 

 

$

487,929

 

 

$

556,942

 

 

 

 

 

 

 

 

 

Radio

 

 

138,463

 

 

 

121,020

 

 

 

126,248

 

 

 

 

 

 

 

 

 

Digital

 

 

51,979

 

 

 

81,460

 

 

 

82,949

 

 

 

 

 

 

 

 

 

Consolidated

 

$

656,200

 

 

$

690,409

 

 

$

766,139