Quarterly report pursuant to Section 13 or 15(d)

SEGMENT DATA

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SEGMENT DATA
3 Months Ended
Mar. 31, 2013
SEGMENT DATA

NOTE 16. SEGMENT DATA

FASB ASC Topic 280 “Segment Reporting” requires companies to provide certain information about their operating segments. We operate in three segments, radio broadcasting, Internet and publishing of which our radio broadcasting and Internet segment are reportable segments. Our radio broadcasting segment operates radio stations throughout the United States, as well as various radio networks and our National sale group. Our Internet segment operates all of our websites and our consumer product sales. Our publishing segment operates our print magazines and Xulon Press, a print-on-demand book publisher.

Management uses operating income before depreciation, amortization, impairments of long-lived assets and (gain) loss on disposal of assets, as its measure of profitability for purposes of assessing performance and allocating resources.

 

     Radio
Broadcast
    Internet      Publishing     Corporate     Consolidated  
     (Dollars in thousands)  

Three Months Ended March 31, 2013

           

Net revenue

   $ 43,247      $ 9,716       $ 2,665      $ —        $ 55,628   

Operating expenses

     29,567        6,841         3,023        5,796        45,227   
  

 

 

   

 

 

    

 

 

   

 

 

   

 

 

 

Operating income (loss) before depreciation, amortization and (gain) loss on disposal of assets

   $ 13,680      $ 2,875       $ (358   $ (5,796   $ 10,401   
  

 

 

   

 

 

    

 

 

   

 

 

   

 

 

 

Depreciation

     1,973        743         116        290        3,122   

Amortization

     35        656         2        —          693   

(Gain) loss on disposal of assets

     4        —           —          —          4   
  

 

 

   

 

 

    

 

 

   

 

 

   

 

 

 

Operating income (loss) from continuing operations

   $ 11,668      $ 1,476       $ (476   $ (6,086   $ 6,582   
  

 

 

   

 

 

    

 

 

   

 

 

   

 

 

 

Three Months Ended March 31, 2012

           

Net revenue

   $ 43,957      $ 7,434       $ 2,893      $ —        $ 54,284   

Operating expenses

     29,142        5,924         2,971        4,867        42,904   
  

 

 

   

 

 

    

 

 

   

 

 

   

 

 

 

Operating income (loss) before depreciation, amortization and (gain) loss on disposal of assets

   $ 14,815      $ 1,510       $ (78   $ (4,867   $ 11,380   
  

 

 

   

 

 

    

 

 

   

 

 

   

 

 

 

Depreciation

     2,078        569         96        287        3,030   

Amortization

     35        551         2        1        589   

(Gain) loss on disposal of assets

     (179     7         —          3        (169
  

 

 

   

 

 

    

 

 

   

 

 

   

 

 

 

Operating income (loss) from continuing operations

   $ 12,881      $ 383       $ (176   $ (5,158   $ 7,930   
  

 

 

   

 

 

    

 

 

   

 

 

   

 

 

 

 

     Radio
Broadcast
     Internet      Publishing      Corporate      Consolidated  
     (Dollars in thousands)  

As of March 31, 2013

              

Property, plant and equipment, net

   $ 83,102       $ 6,215       $ 1,273       $ 8,899       $ 99,489   

Broadcast licenses

     381,582         —           —           —           381,582   

Goodwill

     3,917         17,157         1,337         8         22,419   

Other indefinite-lived intangible assets

     —           —           1,873         —           1,873   

Amortizable intangible assets, net

     780         7,999         10         2         8,791   

As of December 31, 2012

              

Property, plant and equipment, net

   $ 82,972       $ 6,309       $ 1,271       $ 8,915       $ 99,467   

Broadcast licenses

     373,720         —           —           —           373,720   

Goodwill

     3,881         17,157         1,337         8         22,383   

Other indefinite-lived intangible assets

     —           —           1,873         —           1,873   

Amortizable intangible assets, net

     106         8,634         11         2         8,753