Operating Segments

9 Months Ended

Sep. 30, 2018

4. Operating Segments

We have two reportable segments: radio and television.

The following summary table presents separate financial data for each of our operating segments (in thousands):

	Three-Months Ended						Nine-Months Ended
	September 30,						September 30,
	2018			2017			2018			2017
Net revenue:
Radio	$	30,255		$	29,310		$	90,785		$	88,813
Television		3,783			3,481			11,939			9,509
Consolidated	$	34,038		$	32,791		$	102,724		$	98,322
Engineering and programming expenses:
Radio	$	5,303		$	5,496		$	16,016		$	17,367
Television		1,065			1,865			3,409			5,429
Consolidated	$	6,368		$	7,361		$	19,425		$	22,796
Selling, general and administrative expenses:
Radio	$	13,191		$	13,283		$	37,228		$	41,304
Television		1,253			1,430			5,230			4,412
Consolidated	$	14,444		$	14,713		$	42,458		$	45,716
Corporate expenses:	$	2,132		$	2,424		$	8,175		$	7,421
Depreciation and amortization:
Radio	$	420		$	453		$	1,256		$	1,389
Television		432			557			1,473			1,675
Corporate		58			77			177			266
Consolidated	$	910		$	1,087		$	2,906		$	3,330
Gain on the disposal of assets, net of disposal costs:
Radio	$	(159	)	$	—		$	(171	)	$	(12,826	)
Television		29			—			(9	)		(1	)
Corporate		(12,541	)		—			(12,541	)		—
Consolidated	$	(12,671	)	$	—		$	(12,721	)	$	(12,827	)
Recapitalization costs:
Radio	$	—		$	—		$	—		$	—
Television		—			—			—			—
Corporate		2,286			1,423			4,727			5,799
Consolidated	$	2,286		$	1,423		$	4,727		$	5,799
Impairment charges:
Radio	$	—		$	—		$	—		$	—
Television		—			—			483			—
Corporate		—			—			—			—
Consolidated	$	—		$	—		$	483		$	—
Operating income:
Radio	$	11,500		$	10,078		$	36,456		$	41,579
Television		1,004			(371	)		1,353			(2,006	)
Corporate		8,065			(3,924	)		(538	)		(13,486	)
Consolidated	$	20,569		$	5,783		$	37,271		$	26,087