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
Mar. 31, 2023
Mar. 31, 2022
Total net revenue $ 63,489 $ 62,609
Operating expenses:    
Broadcast operating expenses, exclusive of depreciation and amortization shown below (including $447 and $482 for the three months ended March 31, 2022 and 2023, respectively, paid to related parties) 42,809 38,121
Digital media operating expenses, exclusive of depreciation and amortization shown below 8,994 8,473
Publishing operating expenses exclusive of depreciation and amortization shown below 5,376 4,467
Unallocated corporate expenses exclusive of depreciation and amortization shown below (including $9 for the three months ended March 31, 2022 and 2023, paid to related parties) 4,996 4,810
Debt modification costs 0 228
Depreciation 2,850 2,942
Amortization 543 334
Change in the estimated fair value of contingent earn-out consideration (2) (5)
Impairment of indefinite-lived long-term assets other than goodwill 2,124 0
Net (gain) loss on the disposition of assets (21) (1,735)
Total operating expenses 67,669 57,635
Operating income (loss) (4,180) 4,974
Other income (expense):    
Interest income 13 0
Interest expense (3,431) (3,394)
Gain (loss) on early retirement of long-term debt (60) (53)
Earnings from equity method investment 8 0
Net miscellaneous income and expenses 220 1
Net income (loss) before income taxes (7,430) 1,528
Benefit from income taxes (2,276) (211)
Net income (loss) $ (5,154) $ 1,739
Basic earnings (loss) per share data:    
Basic earnings (loss) per share Class A and Class B common stock $ (0.19) $ 0.06
Diluted earnings (loss) per share data:    
Diluted earnings (loss) per share Class A and Class B common stock $ (0.19) $ 0.06
Basic weighted average Class A and Class B shares outstanding 27,216,787 27,177,375
Diluted weighted average Class A and Class B shares outstanding 27,216,787 27,610,407
Broadcast Revenue [Member]    
Total net revenue $ 48,340 $ 48,432
Digital Media [Member]    
Total net revenue 10,510 10,300
Publishing [Member]    
Total net revenue $ 4,639 $ 3,877