Operating Segments

9 Months Ended

Sep. 30, 2019

Segment Reporting [Abstract]

Operating Segments

6. 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,
	2019			2018			2019			2018
Net revenue:
Radio	$	32,493		$	30,255		$	99,564		$	90,785
Television		3,768			3,783			10,983			11,939
Consolidated	$	36,261		$	34,038		$	110,547		$	102,724
Engineering and programming expenses:
Radio	$	5,688		$	5,303		$	16,370		$	16,016
Television		1,582			1,065			4,987			3,409
Consolidated	$	7,270		$	6,368		$	21,357		$	19,425
Selling, general and administrative expenses:
Radio	$	13,778		$	13,191		$	44,621		$	37,228
Television		1,566			1,253			4,887			5,230
Consolidated	$	15,344		$	14,444		$	49,508		$	42,458
Corporate expenses:	$	2,961		$	2,132		$	8,510		$	8,175
Depreciation and amortization:
Radio	$	400		$	420		$	1,174		$	1,256
Television		447			432			1,341			1,473
Corporate		52			58			156			177
Consolidated	$	899		$	910		$	2,671		$	2,906
Loss (gain) on disposal of assets, net of disposal costs:
Radio	$	(7	)	$	(159	)	$	(46	)	$	(171	)
Television		138			29			138			(9	)
Corporate		—			(12,541	)		—			(12,541	)
Consolidated	$	131		$	(12,671	)	$	92		$	(12,721	)
Recapitalization costs:
Radio	$	—		$	—		$	—		$	—
Television		—			—			—			—
Corporate		1,915			2,286			5,289			4,727
Consolidated	$	1,915		$	2,286		$	5,289		$	4,727
Executive severance expenses
Radio	$	—		$	—		$	—		$	—
Television		—			—			—			—
Corporate		—			—			1,844			—
Consolidated	$	—		$	—		$	1,844		$	—
Impairment charges:
Radio	$	—		$	—		$	—		$	—
Television		—			—			—			483
Corporate		—			—			—			—
Consolidated	$	—		$	—		$	—		$	483
Other operating loss (income):
Radio	$	1		$	—		$	(16	)	$	—
Television		—			—			—			—
Corporate		—			—			—			—
Consolidated	$	1		$	—		$	(16	)	$	—
Operating income:
Radio	$	12,633		$	11,500		$	37,461		$	36,456
Television		35			1,004			(370	)		1,353
Corporate		(4,928	)		8,065			(15,799	)		(538	)
Consolidated	$	7,740		$	20,569		$	21,292		$	37,271

	Three-Months Ended				Nine-Months Ended
	September 30,				September 30,
	2019		2018		2019		2018
Capital expenditures:
Radio	$	802	$	588	$	1,828	$	1,461
Television		187		76		986		150
Corporate		136		101		437		135
Consolidated	$	1,125	$	765	$	3,251	$	1,746

	September 30,		December 31,
	2019		2018
Total Assets:
Radio	$	396,261	$	386,303
Television		56,573		55,052
Corporate		2,342		2,957
Consolidated	$	455,176	$	444,312