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INVESTMENTS | 12 Months Ended
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Dec. 31, 2019
Schedule of Investments [Abstract] |
INVESTMENTS | INVESTMENTS The following table summarizes the Company's investments in nonconsolidated affiliates and other securities:
(In thousands) | Notes Receivable |  | Equity Method Investments |  | Other Investments |  | Marketable Equity Securities |  | Total Investments
Balance at December 31, 2017 (Predecessor) | $ | 13,792 |  |  | $ | 19,050 |  |  | $ | 75,623 |  |  | $ | — |  |  | $ | 108,465 |
Purchases of investments | 14,823 |  |  | 4,737 |  |  | 1,348 |  |  | — |  |  | 20,908 |
Equity in earnings | — |  |  | 116 |  |  | — |  |  | — |  |  | 116 |
Disposals | — |  |  | — |  |  | (28,389 | ) |  | — |  |  | (28,389 | )
Impairment of investments | (2,064 | ) |  | — |  |  | (14,158 | ) |  | — |  |  | (16,222 | )
Fair value adjustments | — |  |  | — |  |  | 4,389 |  |  | — |  |  | 4,389 |
Other | (728 | ) |  | 201 |  |  | — |  |  | — |  |  | (527 | )
Balance at December 31, 2018 (Predecessor) | $ | 25,823 |  |  | $ | 24,104 |  |  | $ | 38,813 |  |  | $ | — |  |  | $ | 88,740 |
Purchases of investments | — |  |  | 591 |  |  | 103 |  |  | — |  |  | 694 |
Equity in loss | — |  |  | (66 | ) |  | — |  |  | — |  |  | (66 | )
Impairment of investments | (1,895 | ) |  | — |  |  | (8,342 | ) |  | — |  |  | (10,237 | )
Other | (3 | ) |  | — |  |  | — |  |  | — |  |  | (3 | )
Balance at May 1, 2019 (Predecessor) | $ | 23,925 |  |  | $ | 24,629 |  |  | $ | 30,574 |  |  | $ | — |  |  | $ | 79,128 |
Impact of fresh start accounting | (8,842 | ) |  | (14,986 | ) |  | (1,062 | ) |  | — |  |  | (24,890 | )
Balance at May 2, 2019 (Successor) | $ | 15,083 |  |  | $ | 9,643 |  |  | $ | 29,512 |  |  | $ | — |  |  | $ | 54,238 |
Purchases of investments | 24,103 |  |  | 1,588 |  |  | 2,425 |  |  | 3,440 |  |  | 31,556 |
Equity in loss | — |  |  | (279 | ) |  | — |  |  | — |  |  | (279 | )
Impairment of investments | — |  |  | — |  |  | (21,003 | ) |  | — |  |  | (21,003 | )
Loss on marketable equity securities | — |  |  | — |  |  | — |  |  | (740 | ) |  | (740 | )
Other | (6,058 | ) |  | — |  |  | 6,055 |  |  | — |  |  | (3 | )
December 31, 2019 (Successor) | $ | 33,128 |  |  | $ | 10,952 |  |  | $ | 16,989 |  |  | $ | 2,700 |  |  | $ | 63,769 |
Equity method investments in the table above are not consolidated, but are accounted for under the equity method of accounting. The Company records its investments in these entities on the balance sheet as “Other assets.” The Company's interests in the operations of equity method investments are recorded in the statement of comprehensive income (loss) as “Equity in earnings (loss) of nonconsolidated affiliates.” Other investments includes various investments in companies for which there is no readily determinable market value. During the period from May 2, 2019 through December 31, 2019, the Successor Company recorded $30.0 million in its Audio segment for investments made in eleven companies in exchange for advertising services and cash. Two of these investments are being accounted for under the equity method of accounting, one of these investments is being accounted for at amortized cost, one of these investments is being accounted for as an available-for-sale security and six of these investments are notes receivable that are convertible into cash or equity. During 2018, the Predecessor Company recorded $20.8 million in its Audio segment for investments made in twelve private companies in exchange for advertising services and cash. Two of these investments are being accounted for under the equity method of accounting, five of these investments are being accounted for at amortized cost and five of these investments are notes receivable that are convertible into equity. The Successor Company recognized barter revenue of $13.0 million in the period from May 2, 2019 through December 31, 2019. The Predecessor Company recognized barter revenue of $6.0 million and $10.8 million in the period from January 1, 2019 through May 1, 2019 and the year ended December 31, 2018, respectively, in connection with these investments as services were provided. The Successor Company recognized non-cash investment impairments totaling $21.0 million on our investments for the period from May 2, 2019 through December 31, 2019, which were recorded in “Loss on investments, net.” The Predecessor Company recognized non-cash investment impairments totaling $10.2 million and $16.2 million on our investments for the period from January 1, 2019 through May 1, 2019 and the year ended December 31, 2018, respectively, which were recorded in “Loss on investments, net.” The Predecessor Company recognized a net gain of $4.4 million related to the acquisition of Jelli, Inc., which the Company acquired during the fourth quarter of 2018. The gain is included within "Loss on investments, net."

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- Definition The entire disclosure for investment holdings. This includes the long positions of investments for the entity. It contains investments in affiliated and unaffiliated issuers. The investments include securities and non securities (i.e. commodities and futures contracts). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 946 -SubTopic 320 -Section S99 -Paragraph 6 -Subparagraph (SX 210.12-14) -URI http://asc.fasb.org/extlink&oid=50485924&loc=d3e611322-123010 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 946 -SubTopic 320 -Section S99 -Paragraph 1 -Subparagraph (SX 210.12-12) -URI http://asc.fasb.org/extlink&oid=50485924&loc=d3e611133-123010 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 946 -SubTopic 320 -Section S99 -Paragraph 5 -Subparagraph (SX 210.12-13) -URI http://asc.fasb.org/extlink&oid=50485924&loc=d3e611282-123010 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 946 -SubTopic 320 -Section S99 -Paragraph 4 -Subparagraph (SX 210.12-12C) -URI http://asc.fasb.org/extlink&oid=50485924&loc=d3e611225-123010 + Details
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