Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Total net revenue $ 65,983 $ 60,641 $ 189,118 $ 171,762
Operating expenses:        
Unallocated corporate expenses exclusive of depreciation and amortization shown below (including $18 and $0 for the three months ended September 30, 2020 and 2021, respectively, and $198 and $5 for the nine months ended September 30, 2020 and 2021, respectively, paid to related parties) 4,284 3,849 12,764 11,909
Debt modification costs 2,347   2,347  
Depreciation 2,788 2,677 8,118 8,108
Amortization 427 751 1,553 2,578
Change in the estimated fair value of contingent earn-out consideration   (10)   (12)
Impairment of indefinite-lived long-term assets other than goodwill       17,254
Impairment of goodwill 0   0 307
Net (gain) loss on the disposition of assets (10,607) 1,381 (10,552) 1,494
Total operating expenses 50,184 55,889 163,322 185,908
Operating income (loss) 15,799 4,752 25,796 (14,146)
Other income (expense):        
Interest income   1 1 1
Interest expense (4,026) (4,024) (11,887) (12,069)
Gain on the forgiveness of PPP loans 11,212   11,212  
Gain (loss) on the early retirement of long-term debt (56)   (56) 49
Net miscellaneous income and (expenses) 2 1 87 (45)
Net income (loss) before income taxes 22,931 730 25,153 (26,210)
Provision for income taxes 837 401 479 31,180
Net income (loss) $ 22,094 $ 329 $ 24,674 $ (57,390)
Basic income (loss) per share data:        
Basic income (loss) per share $ 0.82 $ 0.01 $ 0.92 $ (2.15)
Diluted income (loss) per share data:        
Diluted income (loss) per share $ 0.81 $ 0.01 $ 0.91 $ (2.15)
Basic weighted average shares outstanding 26,870,664 26,683,363 26,825,483 26,683,363
Diluted weighted average shares outstanding 27,280,949 27,791,353 27,217,382 26,683,363
Broadcast [Member]        
Total net revenue $ 49,591 $ 45,391 $ 140,422 $ 130,041
Operating expenses:        
Total operating expenses 37,463 34,283 106,968 104,704
Digital Media [Member]        
Total net revenue 10,645 9,808 30,603 28,355
Operating expenses:        
Total operating expenses 8,269 7,144 25,280 23,123
Publishing [Member]        
Total net revenue 5,747 5,442 18,093 13,366
Operating expenses:        
Total operating expenses $ 5,213 $ 5,814 $ 16,844 $ 16,443