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Segment Data (Tables)
12 Months Ended
Dec. 31, 2020
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

 

 

 

 

2020

 

 

 

2019

 

 

 

2018

 

 

2020 to 2019

 

 

2019 to 2018

 

Net Revenue

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Television

 

$

154,456

 

 

$

149,654

 

 

$

152,911

 

 

 

3

%

 

 

(2

)%

Digital

 

 

143,309

 

 

 

68,908

 

 

 

80,982

 

 

 

108

%

 

 

(15

)%

Radio

 

 

46,261

 

 

 

55,013

 

 

 

63,922

 

 

 

(16

)%

 

 

(14

)%

Consolidated

 

 

344,026

 

 

 

273,575

 

 

 

297,815

 

 

 

26

%

 

 

(8

)%

Cost of revenue - digital

 

 

106,928

 

 

 

36,757

 

 

 

45,096

 

 

 

191

%

 

 

(18

)%

Direct operating expenses

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Television

 

 

61,145

 

 

 

61,778

 

 

 

62,434

 

 

 

(1

)%

 

 

(1

)%

Digital

 

 

15,227

 

 

 

18,357

 

 

 

21,521

 

 

 

(17

)%

 

 

(15

)%

Radio

 

 

28,537

 

 

 

39,277

 

 

 

41,287

 

 

 

(27

)%

 

 

(5

)%

Consolidated

 

 

104,909

 

 

 

119,412

 

 

 

125,242

 

 

 

(12

)%

 

 

(5

)%

Selling, general and administrative expenses

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Television

 

 

19,748

 

 

 

22,638

 

 

 

21,864

 

 

 

(13

)%

 

 

4

%

Digital

 

 

15,404

 

 

 

13,904

 

 

 

11,590

 

 

 

11

%

 

 

20

%

Radio

 

 

13,252

 

 

 

17,423

 

 

 

18,081

 

 

 

(24

)%

 

 

(4

)%

Consolidated

 

 

48,404

 

 

 

53,965

 

 

 

51,535

 

 

 

(10

)%

 

 

5

%

Depreciation and amortization

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Television

 

 

12,918

 

 

 

10,059

 

 

 

9,024

 

 

 

28

%

 

 

11

%

Digital

 

 

2,561

 

 

 

4,723

 

 

 

4,759

 

 

 

(46

)%

 

 

(1

)%

Radio

 

 

1,803

 

 

 

1,866

 

 

 

2,490

 

 

 

(3

)%

 

 

(25

)%

Consolidated

 

 

17,282

 

 

 

16,648

 

 

 

16,273

 

 

 

4

%

 

 

2

%

Segment operating profit (loss)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Television

 

 

60,645

 

 

 

55,179

 

 

 

59,589

 

 

 

10

%

 

 

(7

)%

Digital

 

 

3,189

 

 

 

(4,833

)

 

 

(1,984

)

 

 

(166

)%

 

 

144

%

Radio

 

 

2,669

 

 

 

(3,553

)

 

 

2,064

 

 

*

 

 

 

(272

)%

Consolidated

 

 

66,503

 

 

 

46,793

 

 

 

59,669

 

 

 

42

%

 

 

(22

)%

Corporate expenses

 

 

27,807

 

 

 

28,067

 

 

 

26,865

 

 

 

(1

)%

 

 

4

%

Change in fair value of contingent consideration

 

 

 

 

 

(6,478

)

 

 

(1,202

)

 

 

(100

)%

 

 

439

%

Impairment charge

 

 

40,035

 

 

 

32,097

 

 

 

 

 

 

25

%

 

*

 

Foreign currency (gain) loss

 

 

(1,052

)

 

 

754

 

 

 

1,616

 

 

*

 

 

 

(53

)%

Other operating (gain) loss

 

 

(6,895

)

 

 

(5,994

)

 

 

(1,187

)

 

 

15

%

 

 

405

%

Operating income (loss)

 

$

6,608

 

 

$

(1,653

)

 

$

33,577

 

 

*

 

 

*

 

Capital expenditures

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Television

 

$

7,184

 

 

$

24,174

 

 

$

14,336

 

 

 

 

 

 

 

 

 

Digital

 

 

1,659

 

 

 

318

 

 

 

1,031

 

 

 

 

 

 

 

 

 

Radio

 

 

641

 

 

 

792

 

 

 

350

 

 

 

 

 

 

 

 

 

Consolidated

 

$

9,484

 

 

$

25,284

 

 

$

15,717

 

 

 

 

 

 

 

 

 

Total assets

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Television

 

$

425,899

 

 

$

465,758

 

 

$

487,929

 

 

 

 

 

 

 

 

 

Digital

 

 

196,020

 

 

 

51,979

 

 

 

81,460

 

 

 

 

 

 

 

 

 

Radio

 

 

125,426

 

 

 

138,463

 

 

 

121,020

 

 

 

 

 

 

 

 

 

Consolidated

 

$

747,345

 

 

$

656,200

 

 

$

690,409