Annual report pursuant to Section 13 and 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Total net revenue $ 253,898 $ 262,783
Operating expenses:    
Unallocated corporate expenses, exclusive of depreciation and amortization shown below (including $198 and $135 for the years ended December 31, 2018 and 2019, respectively, paid to related parties) 15,940 15,686
Depreciation 11,297 12,034
Amortization 4,637 6,192
Change in the estimated fair value of contingent earn-out consideration (41) 76
Impairment of indefinite-lived long-term assets other than goodwill 2,925 2,870
Impairments based on the estimated fair value goodwill 2,427  
Net (gain) loss on the disposition of assets 22,326 4,653
Total operating expenses 262,099 245,817
Operating income (loss) (8,201) 16,966
Other income (expense):    
Interest income 2 5
Interest expense (17,496) (18,328)
Gain on early retirement of long-term debt 1,670 648
Net miscellaneous income and (expenses) 163 (10)
Net loss from operations before income taxes (23,862) (719)
Provision for income taxes 3,977 2,473
Net loss $ (27,839) $ (3,192)
Basic loss per share data:    
Basic loss per share Class A and Class B common stock $ (1.05) $ (0.12)
Diluted loss per share data:    
Diluted loss per share Class A and Class B common stock $ (1.05) $ (0.12)
Basic weighted average Class A and Class B shares outstanding 26,502,934 26,179,702
Diluted weighted average Class A and Class B shares outstanding 26,502,934 26,179,702
Broadcast [Member]    
Total net revenue $ 193,339 $ 198,502
Operating expenses:    
Total operating expenses 149,439 148,614
Digital Media [Member]    
Total net revenue 39,165 42,595
Operating expenses:    
Total operating expenses 30,801 33,296
Publishing [Member]    
Total net revenue 21,394 21,686
Operating expenses:    
Total operating expenses $ 22,348 $ 22,396