Segment Information |
We evaluate the operating performance of our markets individually. For purposes of business segment reporting, we have aligned operations with similar characteristics into two business segments: Radio and Television. The Radio segment includes twenty-four markets, which includes all ninety-nine of our radio stations and we also had one radio network in 2015. In 2014 the Radio segment included twenty-three markets, which included ninety-two radio stations and one radio information network. The Television segment includes two markets and consists of four television stations and five low power television (“LPTV”) stations. The Radio and Television segments derive their revenue from the sale of commercial broadcast inventory. The category “Corporate general and administrative” represents the income and expense not allocated to reportable segments. | | | | | | Corporate | | | | | | Radio | | Television | | and Other | | Consolidated | | | | (In thousands) | | | | | | | | | | | | Year ended December 31, 2016: | | | | | | | | | | | | | | Net operating revenue | | $ | 118,955 | | $ | 23,636 | | $ | — | | $ | 142,591 | | Station operating expense | | | 86,799 | | | 14,743 | | | — | | | 101,542 | | Corporate general and administrative | | | — | | | — | | | 10,980 | | | 10,980 | | Other operating (income) expense, net | | | (1,351) | | | (42) | | | — | | | (1,393) | | Impairment of intangible assets | | | — | | | — | | | — | | | — | | Operating income (loss) from continuing operations | | $ | 33,507 | | | 8,935 | | | (10,980) | | | 31,462 | | Depreciation and amortization | | $ | 5,555 | | | 1,387 | | | 321 | | | 7,263 | | Capital additions | | $ | 3,246 | | | 894 | | | 721 | | | 4,861 | | Broadcast licenses, net | | $ | 86,662 | | | 9,607 | | | — | | | 96,229 | | Total assets at December 31, 2016 | | $ | 162,434 | | | 22,674 | | | 35,912 | | | 221,020 | | | | | | | | Corporate | | | | | | Radio | | Television | | and Other | | Consolidated | | | | (In thousands) | | | | | | | | | | | | Year ended December 31, 2015: | | | | | | | | | | | | | | Net operating revenue | | $ | 111,792 | | $ | 21,064 | | $ | — | | $ | 132,856 | | Station operating expense | | | 83,188 | | | 14,080 | | | — | | | 97,268 | | Corporate general and administrative | | | — | | | — | | | 10,091 | | | 10,091 | | Other operating expense | | | 499 | | | 32 | | | 10 | | | 541 | | Impairment of intangible assets | | | 874 | | | — | | | — | | | 874 | | Operating income (loss) from continuing operations | | $ | 27,231 | | | 6,952 | | | (10,101) | | | 24,082 | | Depreciation and amortization | | $ | 5,135 | | | 1,399 | | | 290 | | | 6,824 | | Capital additions | | $ | 3,436 | | | 1,970 | | | 137 | | | 5,543 | | Broadcast licenses, net | | $ | 78,499 | | | 9,607 | | | — | | | 88,106 | | Total assets at December 31, 2015 | | $ | 150,855 | | | 23,091 | | | 30,625 | | | 204,571 | | | | | | | | Corporate | | | | | | Radio | | Television | | and Other | | Consolidated | | | | (In thousands) | | | | | | | | | | | | Year ended December 31, 2014: | | | | | | | | | | | | | | Net operating revenue | | $ | 113,627 | | $ | 20,371 | | $ | — | | $ | 133,998 | | Station operating expense | | | 85,167 | | | 13,257 | | | — | | | 98,424 | | Corporate general and administrative | | | — | | | — | | | 8,901 | | | 8,901 | | Other operating income | | | (1,210) | | | — | | | — | | | (1,210) | | Impairment of intangible assets | | | 1,936 | | | — | | | — | | | 1,936 | | Operating income (loss) from continuing operations | | $ | 27,734 | | | 7,114 | | | (8,901) | | | 25,947 | | Depreciation and amortization | | $ | 5,023 | | | 1,411 | | | 268 | | | 6,702 | | Capital additions | | $ | 3,856 | | | 929 | | | 739 | | | 5,524 | |
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