Quarterly report pursuant to Section 13 or 15(d)

SEGMENT DATA (Tables)

v2.4.1.9
SEGMENT DATA (Tables)
 3 Months Ended
Mar. 31, 2015
SEGMENT DATA [Abstract]  
Schedule of Segment Data
Broadcast   Digital Media     Publishing     Unallocated Corporate     Consolidated  
(Dollars in thousands)
Three Months Ended March 31, 2015                                  
Net revenue $ 46,539     $ 10,791     $ 4,526     $ —     $ 61,856  
Operating expenses     33,917       9,000       4,497       3,991       51,405  
Net operating income (loss) before depreciation, amortization, change in the estimated fair value of contingent earn-out consideration and (gain) loss on disposal of assets   $ 12,622     $ 1,791     $ 29     $ (3,991 )   $ 10,451  
Depreciation     1,951       776       168       277       3,172  
Amortization     23       1,170       136       —       1,329  
Change in the estimated fair value of contingent earn-out consideration     —       33       85       —       118  
(Gain) loss on disposal of assets     129       —       (1 )     1       129  
Net operating income (loss)   $ 10,519     $ (188 )   $ (359 )   $ (4,269 )   $ 5,703  
                                         
Three Months Ended March 31, 2014                                        
Net revenue   $ 46,769     $ 11,312     $ 4,263     $ —     $ 62,344  
Operating expenses     33,346       8,850       5,006       5,064       52,266  
Net operating income (loss) before depreciation, amortization, change in the estimated fair value of contingent earn-out consideration and (gain) loss on disposal of assets   $ 13,423     $ 2,462     $ (743 )   $ (5,064 )   $ 10,078  
Depreciation     1,988       753       101       287       3,129  
Amortization     28       1,278       302       —       1,608  
Change in the estimated fair value of contingent earn-out consideration     —       127       —       —       127  
Gain on disposal of assets     (117 )     —       —       —       (117 )
Net operating income (loss)   $ 11,524     $ 304     $ (1,146 )   $ (5,351 )   $ 5,331  

 

Broadcast   Digital Media     Publishing     Unallocated Corporate     Consolidated  
(Dollars in thousands)
As of March 31, 2015                                  
Inventories, net $ —     $ 248     $ 393     $ —     $ 641  
Property and equipment, net     82,317       6,962       1,873       8,226       99,378  
Broadcast licenses     386,302       —       —       —       386,302  
Goodwill     3,959       19,679       1,044       8       24,690  
Other indefinite-lived intangible assets     —       —       833       —       833  
Amortizable intangible assets, net     560       9,428       1,790       2       11,780  
                                         
As of December 31, 2014                                        
Inventories, net   $ —     $ 222     $ 350     $ —     $ 572  
Property and equipment, net     81,948       7,111       1,941       8,227       99,227  
Broadcast licenses     385,726       —       —       —       385,726  
Goodwill     3,955       19,677       1,044       8       24,684  
Other indefinite-lived intangible assets     —       —       833       —       833  
Amortizable intangible assets, net     583       9,884       1,926       2       12,395  

 
Schedule of financial information by operating segment with a comparison of the results under the prior composition of operating segments as compared to new composition
March 31, 2014

As Reported Original

(1)

   As Updated New   
(dollars in thousands)
Net Revenue by Segment:              
Net broadcast revenue $ 45,576     $ 46,769  
Net digital media revenue     12,921       11,312  
Net publishing revenue     3,847       4,263  
Total net revenue   $ 62,344     $ 62,344  
Operating expenses by segment:        
Broadcast operating expenses   $ 31,189     $ 33,346  
Digital media operating expenses     9,828       8,850  
Publishing operating expenses     4,419       5,006  
Unallocated corporate expenses     6,830       5,064  
    $ 52,266     $ 52,266  
Net operating income before depreciation, amortization, change in the estimated fair value of contingent earn-out consideration and (gain) loss on disposal of assets   $ 10,078     $ 10,078  

 

(1)
Includes the reclassification of $11,000 of revenue share commissions to digital media operating expenses from digital media revenue to conform to current presentation.