Segment Information

9 Months Ended

Nov. 30, 2015

Segment Reporting [Abstract]

Segment Information

Segment Information

The Company’s operations are aligned into three business segments: (i) Radio, (ii) Publishing and (iii) Corporate & Emerging Technologies. Emerging Technologies includes our TagStation, NextRadio and Digonex businesses. These business segments are consistent with the Company’s management of these businesses and its financial reporting structure. Corporate expenses are not allocated to reportable segments. The Company’s segments operate exclusively in the United States. Beginning in the quarter ended August 31, 2014, the Company reports results of its Emerging Technologies activities with its Corporate activities. Results from Emerging Technologies were reclassified from the Radio segment in the prior periods presented below and are not material.

The accounting policies as described in the summary of significant accounting policies included in the Company’s Annual Report filed on Form 10-K, for the year ended February 28, 2015, and in Note 1 to these condensed consolidated financial statements, are applied consistently across segments.

Three Months Ended November 30, 2015	Radio		Publishing		Corporate & Emerging Technologies			Consolidated
Net revenues	42,634		16,658		322			$	59,614
Station operating expenses excluding and depreciation and amortization expense	27,352		14,310		1,992			43,654
Corporate expenses excluding depreciation and amortization expense	—		—		2,810			2,810
Depreciation and amortization	934		68		530			1,532
Operating income (loss)	$	14,348	$	2,280	$	(5,010	)	$	11,618

Three Months Ended November 30, 2014	Radio		Publishing		Corporate & Emerging Technologies			Consolidated
Net revenues	44,905		17,906		149			$	62,960
Station operating expenses excluding LMA fees and depreciation and amortization expense	28,683		15,005		1,252			44,940
Corporate expenses excluding depreciation and amortization expense	—		—		3,241			3,241
Hungary license litigation and related expenses	188		—		—			188
Depreciation and amortization	806		62		614			1,482
Loss on disposal of fixed assets	3		—		—			3
Operating income (loss)	$	15,225	$	2,839	$	(4,958	)	$	13,106

Nine Months Ended November 30, 2015	Radio		Publishing		Corporate & Emerging Technologies			Consolidated
Net revenues	132,789		46,775		985			$	180,549
Station operating expenses excluding depreciation and amortization expense	87,925		43,557		5,449			136,931
Corporate expenses excluding depreciation and amortization expense	—		—		10,116			10,116
Depreciation and amortization	2,528		192		1,665			4,385
Operating income (loss)	$	42,336	$	3,026	$	(16,245	)	$	29,117

Nine Months Ended November 30, 2014	Radio			Publishing		Corporate & Emerging Technologies			Consolidated
Net revenues	137,493			46,697		318			$	184,508
Station operating expenses excluding LMA fees and depreciation and amortization expense	87,213			44,458		2,488			134,159
Corporate expenses excluding depreciation and amortization expense	—			—		11,472			11,472
LMA fees	4,208			—		—			4,208
Hungary license litigation and related expenses	472			—		—			472
Depreciation and amortization	2,315			180		1,931			4,426
Gain on contract settlement	(2,500		)	—		—			(2,500		)
Operating income (loss)	$	45,785		$	2,059	$	(15,573	)	$	32,271

Total Assets	Radio		Publishing		Corporate & Emerging Technologies		Consolidated
As of February 28, 2015	$	282,653	$	21,622	$	30,457	$	334,732
As of November 30, 2015	$	284,771	$	22,472	$	28,412	$	335,655