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SEGMENT DATA (Tables)

6 Months Ended

Jun. 30, 2023

Segment Reporting [Abstract]

Schedule of Reportable Segment Results

The following tables present the Company's segment results for the Company for the three and six months ended June 30, 2023 and 2022:

			Segments
(In thousands)			Multiplatform Group						Digital Audio Group						Audio & Media Services Group						Corporate and other reconciling items						Eliminations						Consolidated
Three Months Ended June 30, 2023
Revenue			$	595,944					$	260,854					$	65,804					$	—					$	(2,588)					$	920,014
Operating expenses(1)			433,542						176,272						47,305						74,302						(2,588)						728,833
Segment Adjusted EBITDA(2)			$	162,402					$	84,582					$	18,499					$	(74,302)					$	—					$	191,181
Depreciation and amortization																																	(108,065)
Impairment charges																																	(960,570)
Other operating income, net																																	261
Restructuring expenses																																	(10,789)
Share-based compensation expense																																	(9,212)
Operating loss																																	$	(897,194)
Intersegment revenues			$	—					$	1,216					$	1,372					$	—					$	—					$	2,588
Capital expenditures			14,870						5,502						904						1,497						—						22,773
Share-based compensation expense			—						—						—						9,212						—						9,212

			Segments
(In thousands)			Multiplatform Group						Digital Audio Group						Audio & Media Services Group						Corporate and other reconciling items						Eliminations						Consolidated
Three Months Ended June 30, 2022
Revenue			$	633,300					$	252,561					$	71,065					$	—					$	(2,921)					$	954,005
Operating expenses(1)			438,804						173,678						48,995						58,264						(2,921)						716,820
Segment Adjusted EBITDA(2)			$	194,496					$	78,883					$	22,070					$	(58,264)					$	—					$	237,185
Depreciation and amortization																																	(110,788)
Impairment charges																																	(245)
Other operating expense, net																																	(15,664)
Restructuring expenses																																	(19,009)
Share-based compensation expense																																	(8,610)
Operating income																																	$	82,869
Intersegment revenues			$	167					$	1,376					$	1,378					$	—					$	—					$	2,921
Capital expenditures			36,378						5,912						2,423						4,940						—						49,653
Share-based compensation expense			—						—						—						8,610						—						8,610

			Segments
(In thousands)			Multiplatform Group						Digital Audio Group						Audio & Media Services Group						Corporate and other reconciling items						Eliminations						Consolidated
Six Months Ended June 30, 2023
Revenue			$	1,124,957					$	484,250					$	127,155					$	—					$	(5,109)					$	1,731,253
Operating expenses(1)			875,503						345,549						93,312						137,393						(5,109)						1,446,648
Segment Adjusted EBITDA(2)			$	249,454					$	138,701					$	33,843					$	(137,393)					$	—					$	284,605
Depreciation and amortization																																	(216,577)
Impairment charges																																	(964,517)
Other operating income, net																																	40
Restructuring expenses																																	(30,243)
Share-based compensation expense																																	(19,364)
Operating loss																																	$	(946,056)
Intersegment revenues			$	—					$	2,405					$	2,704					$	—					$	—					$	5,109
Capital expenditures			41,294						11,279						4,791						4,574						—						61,938
Share-based compensation expense			—						—						—						19,364						—						19,364

			Segments
(In thousands)			Multiplatform Group						Digital Audio Group						Audio & Media Services Group						Corporate and other reconciling items						Eliminations						Consolidated
Six Months Ended June 30, 2022
Revenue			$	1,204,460					$	466,780					$	131,922											$	(5,699)					$	1,797,463
Operating expenses(1)			876,057						335,389						93,465						115,848						(5,699)						1,415,060
Segment Adjusted EBITDA(2)			$	328,403					$	131,391					$	38,457					$	(115,848)					$	—					$	382,403
Depreciation and amortization																																	(224,839)
Impairment charges																																	(1,579)
Other operating expense, net																																	(16,534)
Restructuring expenses																																	(30,102)
Share-based compensation expense																																	(14,145)
Operating income																																	$	95,204
Intersegment revenues			$	335					$	2,645					$	2,719					$	—											$	5,699
Capital expenditures			48,716						11,068						4,122						8,304												72,210
Share-based compensation expense			—						—						—						14,145												14,145

(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 loss, please see "Reconciliation of Operating Income (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.

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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
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 25
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-25

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-30

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No definition available.

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