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SEGMENT DATA
 9 Months Ended
Sep. 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 nine months ended September 30, 2021 and 2020:
Segments
(In thousands)Multiplatform GroupDigital Audio GroupAudio & Media Services GroupCorporate and other reconciling itemsEliminationsConsolidated
Three Months Ended September 30, 2021
Revenue$658,979 $205,769 $66,078 $— $(2,775)$928,051 
Operating expenses(1)
450,549 138,646 43,656 67,762 (2,775)697,838 
Segment Adjusted EBITDA(2)
$208,430 $67,123 $22,422 $(67,762)$— $230,213 
Depreciation and amortization(108,100)
Impairment charges(11,647)
Other operating expense, net(12,341)
Restructuring expenses(12,021)
Share-based compensation expense(5,993)
Operating income$80,111 
Intersegment revenues$112 $1,475 $1,188 $— $— $2,775 
Capital expenditures $35,082 $6,223 $3,967 $5,002 $— $50,274 
Share-based compensation expense$— $— $— $5,993 $— $5,993 
Segments
(In thousands)Multiplatform GroupDigital Audio GroupAudio & Media Services GroupCorporate and other reconciling itemsEliminationsConsolidated
Three Months Ended September 30, 2020
Revenue$555,097 $116,200 $75,039 $— $(1,930)$744,406 
Operating expenses(1)
416,131 81,042 46,247 40,792 (1,930)582,282 
Segment Adjusted EBITDA(2)
$138,966 $35,158 $28,792 $(40,792)$— $162,124 
Depreciation and amortization(99,379)
Other operating expense, net(1,675)
Restructuring expenses(15,790)
Share-based compensation expense(5,885)
Operating income$39,395 
Intersegment revenues$168 $— $1,762 $— $— $1,930 
Capital expenditures$12,056 $4,029 $850 $2,042 $— $18,977 
Share-based compensation expense$— $— $— $5,885 $— $5,885 
Segments
(In thousands)Multiplatform GroupDigital Audio GroupAudio & Media Services GroupCorporate and other reconciling itemsEliminationsConsolidated
Nine Months Ended September 30, 2021
Revenue$1,762,726 $561,252 $182,390 $— $(10,047)$2,496,321 
Operating expenses(1)
1,268,107 399,828 124,148 197,317 (10,047)1,979,353 
Segment Adjusted EBITDA(2)
$494,619 $161,424 $58,242 $(197,317)$— $516,968 
Depreciation and amortization(343,408)
Impairment charges(49,391)
Other operating expense, net(27,491)
Restructuring expenses(47,216)
Share-based compensation expense(17,581)
Operating income$31,881 
Intersegment revenues$447 $4,547 $5,053 $— $— $10,047 
Capital expenditures $66,522 $17,934 $6,158 $10,721 $— $101,335 
Share-based compensation expense$— $— $— $17,581 $— $17,581 

Segments
(In thousands)Multiplatform GroupDigital Audio GroupAudio & Media Services GroupCorporate and other reconciling itemsEliminationsConsolidated
Nine Months Ended September 30, 2020
Revenue$1,541,823 $302,203 $174,517 $— $(5,855)$2,012,688 
Operating expenses(1)
1,265,094 231,589 127,774 120,906 (5,855)1,739,508 
Segment Adjusted EBITDA(2)
$276,729 $70,614 $46,743 $(120,906)$— $273,180 
Depreciation and amortization(299,494)
Impairment charges(1,733,235)
Other operating expense, net(3,247)
Restructuring expenses(72,947)
Share-based compensation expense(14,728)
Operating loss$(1,850,471)
Intersegment revenues$503 $— $5,352 $— $— $5,855 
Capital expenditures$34,843 $10,714 $2,473 $10,493 $— $58,523 
Share-based compensation expense$— $— $— $14,728 $— $14,728 
(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 Income (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.