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Segment Information (Tables)
 3 Months Ended
Mar. 31, 2021
Segment Reporting [Abstract]  
Separate Financial Data for Each of Company's Operating Segment

Separate financial data for each of the Company’s operating segments are provided below. Segment operating profit (loss) is defined as operating profit (loss) before corporate expenses, change in fair value contingent consideration, impairment charge, foreign currency (gain) loss and other operating (gain) loss. The Company generated 65% and 14% of its revenue outside the United States during the three-month periods ended March 31, 2021 and 2020, respectively. The Company evaluates the performance of its operating segments based on the following (in thousands):

 

 

 

Three-Month Period

 

 

 

 

 

 

 

Ended March 31,

 

 

%

 

 

 

 

2021

 

 

 

2020

 

 

Change

 

Net revenue

 

 

 

 

 

 

 

 

 

 

 

 

Television

 

$

36,091

 

 

$

39,199

 

 

 

(8

)%

Digital

 

 

101,482

 

 

 

13,331

 

 

 

661

%

Radio

 

 

11,307

 

 

 

11,719

 

 

 

(4

)%

Consolidated

 

 

148,880

 

 

 

64,249

 

 

 

132

%

 

 

 

 

 

 

 

 

 

 

 

 

 

Cost of revenue - digital

 

 

84,756

 

 

 

7,347

 

 

*

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Direct operating expenses

 

 

 

 

 

 

 

 

 

 

 

 

Television

 

 

14,969

 

 

 

15,825

 

 

 

(5

)%

Digital

 

 

4,901

 

 

 

3,193

 

 

 

53

%

Radio

 

 

6,691

 

 

 

7,661

 

 

 

(13

)%

Consolidated

 

 

26,561

 

 

 

26,679

 

 

 

(0

)%

 

 

 

 

 

 

 

 

 

 

 

 

 

Selling, general and administrative expenses

 

 

 

 

 

 

 

 

 

 

 

 

Television

 

 

4,915

 

 

 

5,932

 

 

 

(17

)%

Digital

 

 

5,949

 

 

 

3,671

 

 

 

62

%

Radio

 

 

2,989

 

 

 

3,988

 

 

 

(25

)%

Consolidated

 

 

13,853

 

 

 

13,591

 

 

 

2

%

 

 

 

 

 

 

 

 

 

 

 

 

 

Depreciation and amortization

 

 

 

 

 

 

 

 

 

 

 

 

Television

 

 

3,216

 

 

 

2,875

 

 

 

12

%

Digital

 

 

1,581

 

 

 

1,150

 

 

 

37

%

Radio

 

 

387

 

 

 

487

 

 

 

(21

)%

Consolidated

 

 

5,184

 

 

 

4,512

 

 

 

15

%

 

 

 

 

 

 

 

 

 

 

 

 

 

Segment operating profit (loss)

 

 

 

 

 

 

 

 

 

 

 

 

Television

 

 

12,991

 

 

 

14,567

 

 

 

(11

)%

Digital

 

 

4,295

 

 

 

(2,030

)

 

*

 

Radio

 

 

1,240

 

 

 

(417

)

 

*

 

Consolidated

 

 

18,526

 

 

 

12,120

 

 

 

53

%

 

 

 

 

 

 

 

 

 

 

 

 

 

Corporate expenses

 

 

7,158

 

 

 

6,840

 

 

 

5

%

Impairment charge

 

 

1,326

 

 

 

39,835

 

 

 

(97

)%

Foreign currency (gain) loss

 

 

586

 

 

 

1,508

 

 

 

(61

)%

Other operating (gain) loss

 

 

(1,913

)

 

 

(836

)

 

 

129

%

Operating income (loss)

 

 

11,369

 

 

 

(35,227

)

 

*

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense

 

$

(1,717

)

 

$

(2,680

)

 

 

(36

)%

Interest income

 

 

140

 

 

 

624

 

 

 

(78

)%

Dividend income

 

 

2

 

 

 

23

 

 

 

(91

)%

Income (loss) before income taxes

 

 

9,794

 

 

 

(37,260

)

 

*

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Capital expenditures

 

 

 

 

 

 

 

 

 

 

 

 

Television

 

$

1,031

 

 

$

3,182

 

 

 

 

 

Digital

 

 

336

 

 

 

298

 

 

 

 

 

Radio

 

 

146

 

 

 

196

 

 

 

 

 

Consolidated

 

$

1,513

 

 

$

3,676

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

March 31,

 

 

December 31,

 

 

 

 

 

Total assets

 

 

2021

 

 

 

2020

 

 

 

 

 

Television

 

 

434,758

 

 

 

425,899

 

 

 

 

 

Digital

 

 

196,551

 

 

 

196,020

 

 

 

 

 

Radio

 

 

120,859

 

 

 

125,426

 

 

 

 

 

Consolidated

 

$

752,168

 

 

$

747,345

 

 

 

 

 

 

*

Percentage not meaningful.