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SEGMENT DATA (Tables)

9 Months Ended

Sep. 30, 2022

Segment Reporting [Abstract]

Schedule of Reportable Segment Results

The following tables present the Company's segment results for the Company for the three and nine months ended September 30, 2022 and 2021:

			Segments
(In thousands)			Multiplatform Group						Digital Audio Group						Audio & Media Services Group						Corporate and other reconciling items						Eliminations						Consolidated
Three Months Ended September 30, 2022
Revenue			$	659,896					$	253,953					$	77,794					$	—					$	(2,713)					$	988,930
Operating expenses(1)			452,631						175,636						48,044						63,090						(2,713)						736,688
Segment Adjusted EBITDA(2)			$	207,265					$	78,317					$	29,750					$	(63,090)					$	—					$	252,242
Depreciation and amortization																																	(109,305)
Impairment charges																																	(309,750)
Other operating expense, net																																	(9,451)
Restructuring expenses																																	(24,486)
Share-based compensation expense																																	(10,437)
Operating income																																	$	(211,187)
Intersegment revenues			$	112					$	1,314					$	1,287					$	—					$	—					$	2,713
Capital expenditures			31,613						4,808						1,276						2,660						—						40,357
Share-based compensation expense			—						—						—						10,437						—						10,437

			Segments
(In thousands)			Multiplatform Group						Digital Audio Group						Audio & Media Services Group						Corporate and other reconciling items						Eliminations						Consolidated
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 Group						Digital Audio Group						Audio & Media Services Group						Corporate and other reconciling items						Eliminations						Consolidated
Nine Months Ended September 30, 2022
Revenue			$	1,864,356					$	720,733					$	209,716					$	—					$	(8,412)					$	2,786,393
Operating expenses(1)			1,328,688						511,025						141,509						178,938						(8,412)						2,151,748
Segment Adjusted EBITDA(2)			$	535,668					$	209,708					$	68,207					$	(178,938)					$	—					$	634,645
Depreciation and amortization																																	(334,144)
Impairment charges																																	(311,329)
Other operating expense, net																																	(25,985)
Restructuring expenses																																	(54,588)
Share-based compensation expense																																	(24,582)
Operating income																																	$	(115,983)
Intersegment revenues			$	447					$	3,959					$	4,006					$	—					$	—					$	8,412
Capital expenditures			80,329						15,876						5,398						10,964						—						112,567
Share-based compensation expense			—						—						—						24,582						—						24,582

			Segments
(In thousands)			Multiplatform Group						Digital Audio Group						Audio & Media Services Group						Corporate and other reconciling items						Eliminations						Consolidated
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 loss																																	$	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

(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 (loss), the most closely comparable GAAP measure, and to Net income (loss), please see "Reconciliation of Operating Income (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.

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- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 25
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8813-108599

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8906-108599

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- References

No definition available.

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