Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF OPERATIONS

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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Total net revenue $ 258,247 $ 236,239
Operating expenses:    
Unallocated corporate expenses, exclusive of depreciation and amortization shown below (including $135 and $207 for the years ended December 31, 2019 and 2020, respectively, paid to related parties) 17,483 16,194
Debt modification costs 2,526 0
Depreciation 10,933 10,777
Amortization 1,895 3,281
Change in the estimated fair value of contingent earn-out consideration 0 (12)
Impairment of indefinite-lived long-term assets other than goodwill 0 17,254
Impairment of goodwill 0 307
Net (gain) loss on the disposition of assets (23,575) 1,575
Total operating expenses 211,999 243,993
Operating loss 46,248 (7,754)
Other income (expense):    
Interest income 10 1
Interest expense (15,799) (16,075)
Gain on the forgiveness of PPP loans 11,212 0
Gain (loss) on early retirement of long-term debt (1,026) 49
Net miscellaneous income and (expenses) 110 (9)
Net income (loss) before income taxes 40,755 (23,788)
Provision for (benefit from) income taxes (759) 30,274
Net income (loss) $ 41,514 $ (54,062)
Basic income (loss) per share data:    
Basic income (loss) per share Class A and Class B common stock $ 1.54 $ (2.03)
Diluted income (loss) per share data:    
Diluted income (loss) per share Class A and Class B common stock $ 1.52 $ (2.03)
Basic weighted average Class A and Class B shares outstanding 26,892,540 26,683,363
Diluted weighted average Class A and Class B shares outstanding 27,296,618 26,683,363
Broadcast Revenue [Member]    
Total net revenue $ 191,443 $ 178,127
Operating expenses:    
Total operating expenses 145,720 140,942
Digital Media [Member]    
Total net revenue 42,164 39,593
Operating expenses:    
Total operating expenses 33,797 31,725
Publishing [Member]    
Total net revenue 24,640 18,519
Operating expenses:    
Total operating expenses $ 23,220 $ 21,950