v3.23.3
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Total net revenue $ 63,497 $ 66,862 $ 192,760 $ 198,153
Operating expenses:        
Broadcast operating expenses, exclusive of depreciation and amortization shown below (including $449 and $557 for the three months ended September 30, 2022 and 2023, respectively, and $1,350 and $1,626 for the nine months ended September 30, 2022 and 2023, respectively, paid to related parties) 42,171 41,178 128,498 120,837
Legal settlement 0 3,825 0 4,776
Digital media operating expenses, exclusive of depreciation and amortization shown below 8,496 8,333 26,516 25,079
Publishing operating expenses exclusive of depreciation and amortization shown below 5,939 6,542 17,341 16,441
Unallocated corporate expenses exclusive of depreciation and amortization shown below (including $82 and $0 for the three months ended September 30, 2022 and 2023, respectively, and $250 and $17 for the nine months ended September 30, 2022 and 2023, respectively, paid to related parties) 4,514 4,840 14,165 14,431
Debt modification costs 0 2 0 250
Depreciation 2,816 2,737 8,540 8,537
Amortization 561 297 1,751 963
Change in the estimated fair value of contingent earn-out consideration (100) 0 (102) (5)
Impairment of indefinite-lived long-term assets other than goodwill 35,113 7,725 38,376 11,660
Impairment of goodwill 733 0 2,580 127
Net (gain) loss on the disposition of assets (456) 167 (334) (8,461)
Total operating expenses 99,787 75,646 237,331 194,635
Operating income (loss) (36,290) (8,784) (44,571) 3,518
Other income (expense):        
Interest income 14 17 40 166
Interest expense (3,626) (3,142) (10,596) (9,925)
Gain (loss) on early retirement of long-term debt 0 0 (60) (18)
Earnings (loss) from equity method investment 7 102 (4) 4,015
Net miscellaneous income and (expenses) (184) (19) 27 (19)
Net loss before income taxes (40,079) (11,826) (55,164) (2,263)
Provision for (benefit from) income taxes (8,782) 59 (11,619) (1,234)
Net loss $ (31,297) $ (11,885) $ (43,545) $ (1,029)
Basic loss per share data:        
Basic income per share $ (1.15) $ (0.44) $ (1.6) $ (0.04)
Diluted loss per share data:        
Diluted income per share $ (1.15) $ (0.44) $ (1.6) $ (0.04)
Basic weighted average shares outstanding 27,216,787 27,216,787 27,216,787 27,202,983
Diluted weighted average shares outstanding 27,216,787 27,216,787 27,216,787 27,202,983
Broadcast Revenue [Member]        
Total net revenue $ 48,966 $ 51,136 $ 146,986 $ 152,020
Digital Media [Member]        
Total net revenue 9,965 10,189 31,335 31,293
Publishing [Member]        
Total net revenue $ 4,566 $ 5,537 $ 14,439 $ 14,840

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