Quarterly report pursuant to Section 13 or 15(d)

SEGMENT DATA (Tables)

v3.2.0.727
SEGMENT DATA (Tables)
 6 Months Ended
Jun. 30, 2015
SEGMENT DATA [Abstract]  
Schedule of Segment Data
Broadcast   Digital Media     Publishing     Unallocated
Corporate		     Consolidated  

  (Dollars in thousands)      
Three Months Ended June 30, 2015                                        
Net revenue   $  49,060     $  11,499     $  6,734     $  —     $  67,293  
Operating expenses     35,187       8,767       6,469       3,518       53,941  
Net operating income (loss) before depreciation, amortization, change in the estimated fair value of contingent earn-out consideration and (gain) loss on disposal of assets   $  13,873     $  2,732     $
 265     $  (3,518 )    $  13,352  
Depreciation     1,889       782       167       222       3,060  
Amortization     23       1,156       135       1       1,315  
Change in the estimated fair value of contingent earn-out consideration     —       (244 )      (63  )     —       (307 ) 
Loss on disposal of assets     30       —       —       —       30  
Net operating income (loss)   $  11,931     $  1,038     $  26     $  (3,741

) 

   $  9,254  
                                         
Three Months Ended June 30, 2014                                        
Net revenue   $  49,129     $   12,319     $   7,189     $  —     $   68,637  
Operating expenses     35,815        9,270        6,809        3,976       55,870
  
Net operating income (loss) before depreciation, amortization, change in the estimated fair value of contingent earn-out consideration and (gain) loss on disposal of assets   $  13,314     $   3,049     $   380     $  (3,976 )    $  12,767
  
Depreciation     1,995
        761        133        278       3,167
  
Amortization     24
        1,202        303       —       1,529
  
Change in the estimated fair value of contingent earn-out consideration     —      

90

        152       —       242
  
Loss on disposal of assets     338       —       —
       —       338  
Net operating income (loss)   $   10,957     $   996     $  (208 )    $  (4,254 )    $  7,491  

 

Broadcast   Digital Media     Publishing     Unallocated
Corporate		     Consolidated  
(Dollars in thousands)
Six Months Ended June 30, 2015                                  
Net revenue $ 95,599     $ 22,290     $ 11,260     $ —     $ 129,149  
Operating expenses     69,104       17,767       10,966       7,509
    105,346  
Net operating income (loss) before depreciation, amortization, change in the estimated fair value of contingent earn-out consideration and (gain) loss on disposal of assets   $ 26,495     $ 4,523     $ 294     $ (7,509 )   $ 23,803  
Depreciation     3,840       1,558       335       499       6,232  
Amortization     46       2,326       271       1       2,644  
Change in the estimated fair value of contingent earn-out consideration     —       (211 )      22       —       (189 ) 
(Gain) loss on disposal of assets     159       —       (1 )     1       159  
Net operating income (loss)   $ 22,450     $ 850
  $ (333 )   $ (8,010 )   $ 14,957  
                                         
Six Months Ended June 30, 2014                                        
Net revenue   $ 95,898     $ 23,631     $ 11,452     $ —     $ 130,981  
Operating expenses     69,161       18,120       11,815       9,040       108,136  
Net operating income (loss) before depreciation, amortization, change in the estimated fair value of contingent earn-out consideration and (gain) loss on disposal of assets   $ 26,737     $ 5,511     $ (363 )   $ (9,040 )   $ 22,845  
Depreciation     3,983       1,514       234       565       6,296  
Amortization     52       2,480       605       —       3,137  
Change in the estimated fair value of contingent earn-out consideration     —       217       152       —       369  
Loss on disposal of assets     221
    —       —       —       221
Net operating income (loss)   $ 22,481     $ 1,300     $ (1,354 )   $ (9,605 )   $ 12,822  

 

Broadcast   Digital Media     Publishing     Unallocated
Corporate		     Consolidated  
(Dollars in thousands)
As of June 30, 2015                                  
Inventories, net $ —     $ 402     $ 456     $ —     $ 858  
Property and equipment, net     84,616       7,180       1,830       8,217       101,843  
Broadcast licenses     387,367       —       —       —       387,367  
Goodwill     3,969       19,795       1,044       8       24,816  
Other indefinite-lived intangible assets     —       —       833       —       833  
Amortizable intangible assets, net     537       9,148       1,656       2       11,343  
                                         
As of December 31, 2014                                        
Inventories, net   $ —     $ 222     $ 350     $ —     $ 572  
Property and equipment, net     81,948       7,111       1,941       8,227       99,227  
Broadcast licenses     385,726       —       —       —       385,726  
Goodwill     3,955       19,677       1,044       8       24,684  
Other indefinite-lived intangible assets     —       —       833       —       833  
Amortizable intangible assets, net     583       9,884       1,926       2       12,395  


Schedule of financial information by operating segment with a comparison of the results under the prior composition of operating segments as compared to new composition
   Three Months Ended June 30, 2014   Six Months Ended June 30, 2014
  As Reported
Original (1) 		    As Updated
New		  

As Reported
Original (1)

   As Updated New 
  (Dollars in thousands)     
Net Revenue by Segment:    
                         
Net broadcast revenue   $  47,855      $  49,129   $ 93,431     $ 95,898
Net digital media revenue      14,390        12,319       27,300       23,631  
Net publishing revenue      6,392        7,189       10,250       11,452  
Total net revenue   $  68,637     $  68,637     $ 130,981     $ 130,981  
Operating expenses by segment:                        
Broadcast operating expenses   $  33,910     $  35,815     $ 65,099     $ 69,161  
Digital media operating expenses      10,063        9,270       19,891       18,120  
Publishing operating expenses      6,439        6,809       10,858       11,815  
Unallocated corporate expenses      5,458        3,976       12,288       9,040  
    $   55,870     $  55,870     $ 108,136     $ 108,136  
Net operating income before depreciation, amortization, change in the estimated fair value of contingent earn-out consideration and (gain) loss on disposal of assets   $  7,491     $  7,491     $ 12,822     $ 12,822  

 

(1)
Includes the reclassification of $11,000 of revenue share commissions to digital media operating expenses from digital media revenue to conform to current presentation.