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SEGMENT DATA
 3 Months Ended
Mar. 31, 2024
Segment Reporting [Abstract]  
SEGMENT DATA SEGMENT DATA
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, Audio & Media Services Group, and Corporate 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, 2024 and 2023:
Segments
(In thousands)Multiplatform GroupDigital Audio GroupAudio & Media Services GroupCorporate and other reconciling itemsEliminationsConsolidated
Three Months Ended March 31, 2024
Revenue$493,463 238,968 $69,168 $— $(2,561)$799,038 
Operating expenses(1)
416,281 170,841 45,473 64,387 (2,561)694,421 
Segment Adjusted EBITDA(2)
$77,182 $68,127 $23,695 $(64,387)$— $104,617 
Depreciation and amortization(105,162)
Impairment charges(1,508)
Other operating expense, net(572)
Restructuring expenses(23,603)
Share-based compensation expense(8,480)
Operating loss$(34,708)
Intersegment revenues$— $1,185 $1,376 $— $— $2,561 
Capital expenditures11,704 5,427 2,257 2,194 — 21,582 
Share-based compensation expense— — — 8,480 — 8,480 

Segments
(In thousands)Multiplatform GroupDigital Audio GroupAudio & Media Services GroupCorporate and other reconciling itemsEliminationsConsolidated
Three Months Ended March 31, 2023
Revenue$529,013 $223,396 $61,351 $— $(2,521)$811,239 
Operating expenses(1)
441,961 169,277 46,007 63,091 (2,521)717,815 
Segment Adjusted EBITDA(2)
$87,052 $54,119 $15,344 $(63,091)$— $93,424 
Depreciation and amortization(108,512)
Impairment charges(3,947)
Other operating expense, net(221)
Restructuring expenses(19,454)
Share-based compensation expense(10,152)
Operating loss$(48,862)
Intersegment revenues$— $1,189 $1,332 $— $— $2,521 
Capital expenditures26,424 5,777 3,887 3,077 — 39,165 
Share-based compensation expense— — — 10,152 — 10,152 
(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 loss, the most closely comparable GAAP measure, and to Net 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.