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Segment Information
 9 Months Ended
Sep. 30, 2016
Segment Reporting [Abstract]  
Segment Information
Segment Information
 
The Company has two reportable operating segments, “Broadcast” and “Digital” that are disclosed separately from our corporate activities. The Broadcast segment includes 71 television stations that are either owned, operated or serviced by the Company in 48 U.S. markets, all of which are engaged principally in the sale of television advertising. The Digital segment includes the operating results of the digital companies (New Federated Media and HYFN) as well as the business operations related to the television station companion websites. Unallocated corporate expenses primarily include costs to operate as a public company and to operate corporate locations.
 
The Company identifies operating segments based on how the chief operating decision maker (“CODM”) allocates resources, assesses performance and makes decisions. The CODM is the President, and Chief Executive Officer. The CODM evaluates performance and allocates resources based on operating income or loss for the Broadcast and Digital segments, excluding non-segment expenses.
 
 
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
(in thousands)
 
2016
 
2015
 
2016
 
2015
Revenues
 
 
 
 
 
 
 
 
Broadcast
 
$
337,443

 
$
277,992

 
$
962,697

 
$
828,846

Digital
 
39,913

 
43,744

 
120,828

 
110,147

Revenues
 
$
377,356

 
$
321,736

 
$
1,083,525

 
$
938,993


 
 
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
(in thousands)
2016
 
2015
 
2016
 
2015
Operating income
 
 
 
 
 
 
 
Broadcast
$
130,367

 
$
85,105

 
$
351,648

 
$
260,032

Digital
4,885

 
1,540

 
6,410

 
499

Segment operating income
135,252

 
86,645

 
358,058

 
260,531

Corporate and other expenses
(8,671
)
 
(12,598
)
 
(37,124
)
 
(37,615
)
Depreciation and amortization
(40,762
)
 
(40,385
)
 
(121,220
)
 
(123,286
)
Gain (loss) related to property and equipment, net
(143
)
 
(96
)
 
538

 
328

Goodwill and other asset impairment
(112,511
)
 
(52,862
)
 
(112,511
)
 
(52,862
)
Merger-related expenses
(1,360
)
 
(10,014
)
 
(68,803
)
 
(18,907
)
Restructuring expenses
45

 
(1,132
)
 
(4,933
)
 
(1,132
)
Operating income (loss)
$
(28,150
)
 
$
(30,442
)
 
$
14,005

 
$
27,057