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SEGMENT DATA
 6 Months Ended
Jun. 30, 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 and six months ended June 30, 2021 and 2020:
Segments
(In thousands)Multiplatform GroupDigital Audio GroupAudio & Media Services GroupCorporate and other reconciling itemsEliminationsConsolidated
Three Months Ended June 30, 2021
Revenue$605,850 $197,930 $61,175 $— $(3,350)$861,605 
Operating expenses(1)
424,452 143,640 40,704 71,651 (3,350)677,097 
Segment Adjusted EBITDA(2)
$181,398 $54,290 $20,471 $(71,651)$— $184,508 
Depreciation and amortization(127,945)
Other operating expense, net(12,379)
Restructuring expenses(10,155)
Share-based compensation expense(5,903)
Operating income$28,126 
Intersegment revenues$168 $1,178 $2,004 $— $— $3,350 
Capital expenditures $21,371 $6,286 $1,144 $3,310 $— $32,111 
Share-based compensation expense$— $— $— $5,903 $— $5,903 
Segments
(In thousands)Multiplatform GroupDigital Audio GroupAudio & Media Services GroupCorporate and other reconciling itemsEliminationsConsolidated
Three Months Ended June 30, 2020
Revenue$357,117 $93,227 $39,251 $— $(1,947)$487,648 
Operating expenses(1)
371,498 74,365 39,000 34,015 (1,947)516,931 
Segment Adjusted EBITDA(2)
$(14,381)$18,862 $251 $(34,015)$— $(29,283)
Depreciation and amortization(103,347)
Impairment charges(5,378)
Other operating expense, net(506)
Restructuring expenses(16,355)
Share-based compensation expense(4,218)
Operating loss$(159,087)
Intersegment revenues$168 $— $1,779 $— $— $1,947 
Capital expenditures$9,594 $3,111 $961 $4,216 $— $17,882 
Share-based compensation expense$— $— $— $4,218 $— $4,218 
Segments
(In thousands)Multiplatform GroupDigital Audio GroupAudio & Media Services GroupCorporate and other reconciling itemsEliminationsConsolidated
Six Months Ended June 30, 2021
Revenue$1,103,747 $355,483 $116,312 $— $(7,272)$1,568,270 
Operating expenses(1)
817,558 261,182 80,492 129,555 (7,272)1,281,515 
Segment Adjusted EBITDA(2)
$286,189 $94,301 $35,820 $(129,555)$— $286,755 
Depreciation and amortization(235,308)
Impairment charges(37,744)
Other operating expense, net(15,150)
Restructuring expenses(35,195)
Share-based compensation expense(11,588)
Operating loss$(48,230)
Intersegment revenues$335 $3,072 $3,865 $— $— $7,272 
Capital expenditures $31,440 $11,711 $2,191 $5,719 $— $51,061 
Share-based compensation expense$— $— $— $11,588 $— $11,588 

Segments
(In thousands)Multiplatform GroupDigital Audio GroupAudio & Media Services GroupCorporate and other reconciling itemsEliminationsConsolidated
Six Months Ended June 30, 2020
Revenue$986,726 $186,003 $99,478 $— $(3,925)$1,268,282 
Operating expenses(1)
848,963 150,547 81,527 80,114 (3,925)1,157,226 
Segment Adjusted EBITDA(2)
$137,763 $35,456 $17,951 $(80,114)$— $111,056 
Depreciation and amortization(200,115)
Impairment charges(1,733,235)
Other operating expense, net(1,572)
Restructuring expenses(57,157)
Share-based compensation expense(8,843)
Operating loss$(1,889,866)
Intersegment revenues$335 $— $3,590 $— $— $3,925 
Capital expenditures$22,787 $6,685 $1,623 $8,451 $— $39,546 
Share-based compensation expense$— $— $— $8,843 $— $8,843 
(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 for the consolidated company 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.