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SEGMENT DATA
 3 Months Ended
Mar. 31, 2021
Segment Reporting [Abstract]  
SEGMENT DATA SEGMENT DATA
As discussed in Note 1, in connection with certain leadership and organizational changes implemented in the first quarter 2021, the Company revised its segment reporting as of January 1, 2021. The corresponding current and prior period segment disclosures were recast to reflect the current segment presentation. Segment Adjusted EBITDA is the segment profitability metric reported to the Company’s Chief Operating Decision Maker for purposes of decisions about allocation of resources to, and assessing performance of, each reportable segment.
The Company’s primary businesses are included in its Multiplatform Group and Digital Audio Group segments. Revenue and expenses earned and charged between Multiplatform Group, Digital Audio Group, Corporate and the Company's Audio & Media Services Group are eliminated in consolidation.  The Multiplatform Group provides media and entertainment services via broadcast delivery and also includes the Company’s events and national syndication businesses. The Digital Audio Group provides media and entertainment services via digital delivery.  The Audio & Media Services Group provides other audio and media services, including the Company’s media representation business (Katz Media) and its provider of scheduling and broadcast software (RCS).  Corporate includes infrastructure and support, including executive, information technology, human resources, legal, finance and administrative functions for the Company’s businesses. Share-based payments are recorded in Selling, general and administrative expense.
The following tables present the Company's segment results for the Company for the three months ended March 31, 2021 and 2020:
Segments
(In thousands)Multiplatform GroupDigital Audio GroupAudio & Media Services GroupCorporate and other reconciling itemsEliminationsConsolidated
Three Months Ended March 31, 2021
Revenue$497,897 $157,553 $55,137 $— $(3,922)$706,665 
Operating expenses(1)
393,106 117,542 39,788 57,904 (3,922)604,418 
Adjusted EBITDA(2)
$104,791 $40,011 $15,349 $(57,904)$— $102,247 
Depreciation and amortization(107,363)
Impairment charges(37,744)
Other operating expense, net(2,771)
Restructuring expenses(25,040)
Share-based compensation expense(5,685)
Operating loss$(76,356)
Intersegment revenues$167 $1,894 $1,861 $— $— $3,922 
Capital expenditures $10,069 $5,425 $1,047 $2,409 $— $18,950 
Share-based compensation expense$— $— $— $5,685 $— $5,685 
Segments
(In thousands)Multiplatform GroupDigital Audio GroupAudio & Media Services GroupCorporate and other reconciling itemsEliminationsConsolidated
Three Months Ended March 31, 2020
Revenue$629,609 $92,776 $60,227 $— $(1,978)$780,634 
Operating expenses(1)
478,004 76,182 42,527 45,560 (1,978)640,295 
Adjusted EBITDA(2)
$151,605 $16,594 $17,700 $(45,560)$— $140,339 
Depreciation and amortization(96,768)
Impairment charges(1,727,857)
Other operating expense, net(1,066)
Restructuring expenses(40,802)
Share-based compensation expense(4,625)
Operating loss$(1,730,779)
Intersegment revenues$167 $— $1,811 $— $— $1,978 
Capital expenditures$13,257 $3,574 $662 $4,171 $— $21,664 
Share-based compensation expense$— $— $— $4,625 $— $4,625 
(1) Consolidated operating expenses consist of Direct operating expenses and Selling, general and administrative expenses and exclude Restructuring expenses, share-based compensation expenses and depreciation and amortization.
(2) For a definition of Adjusted EBITDA and a reconciliation to Operating income, the most closely comparable GAAP measure, and to Net income (loss), please see "Reconciliation of Operating Loss to Adjusted EBITDA" and "Reconciliation of Net Loss to EBITDA and Adjusted EBITDA" in Item 2 of this Quarterly Report on Form 10-Q. Beginning on January 1, 2021, Segment Adjusted EBITDA became the segment profitability metric reported to the Company's Chief Operating Decision Maker for purposes of making decisions about allocation of resources to, and assessing performance of, each reportable segment.