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SEGMENT DATA
 6 Months Ended
Jun. 30, 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:
Segments
(In thousands)Multiplatform GroupDigital Audio GroupAudio & Media Services GroupCorporate and other reconciling itemsEliminationsConsolidated
Three Months Ended June 30, 2024
Revenue$575,907 $285,614 $70,082 $— $(2,511)$929,092 
Operating expenses(1)
471,644 193,744 46,233 69,775 (2,511)778,885 
Segment Adjusted EBITDA(2)
$104,263 $91,870 $23,849 $(69,775)$— $150,207 
Depreciation and amortization(104,356)
Impairment charges(920,224)
Other operating expense, net(516)
Restructuring expenses(27,558)
Share-based compensation expense(7,220)
Operating loss$(909,667)
Intersegment revenues$— $1,175 $1,336 $— $— $2,511 
Capital expenditures12,895 5,692 2,167 418 — 21,172 
Share-based compensation expense— — — 7,220 — 7,220 

Segments
(In thousands)Multiplatform GroupDigital Audio GroupAudio & Media Services GroupCorporate and other reconciling itemsEliminationsConsolidated
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 $(74,302)$— $191,181 
Depreciation and amortization(108,065)
Impairment charges(960,570)
Other operating income, net261 
Restructuring expenses(10,789)
Share-based compensation expense(9,212)
Operating loss$(897,194)
Intersegment revenues$— $1,216 $1,372 $— $— $2,588 
Capital expenditures14,870 5,502 904 1,497 — 22,773 
Share-based compensation expense— — — 9,212 — 9,212 
Segments
(In thousands)Multiplatform GroupDigital Audio GroupAudio & Media Services GroupCorporate and other reconciling itemsEliminationsConsolidated
Six Months Ended June 30, 2024
Revenue$1,069,370 $524,582 $139,250 $— $(5,072)$1,728,130 
Operating expenses(1)
887,925 364,585 91,706 134,162 (5,072)1,473,306 
Segment Adjusted EBITDA(2)
$181,445 $159,997 $47,544 $(134,162)$— $254,824 
Depreciation and amortization(209,518)
Impairment charges(921,732)
Other operating expense, net(1,088)
Restructuring expenses(51,161)
Share-based compensation expense(15,700)
Operating loss$(944,375)
Intersegment revenues$— $2,360 $2,712 $— $— $5,072 
Capital expenditures24,599 11,119 4,424 2,612 — 42,754 
Share-based compensation expense15,700 15,700 

Segments
(In thousands)Multiplatform GroupDigital Audio GroupAudio & Media Services GroupCorporate and other reconciling itemsEliminationsConsolidated
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 $(137,393)$— $284,605 
Depreciation and amortization(216,577)
Impairment charges(964,517)
Other operating income, net40 
Restructuring expenses(30,243)
Share-based compensation expense(19,364)
Operating loss$(946,056)
Intersegment revenues$— $2,405 $2,704 $— $— $5,109 
Capital expenditures41,294 11,279 4,791 4,574 — 61,938 
Share-based compensation expense— — — 19,364 — 19,364 
(1) Operating expenses consist of Direct operating expenses and SG&A expenses, excluding Restructuring expenses and share-based compensation expenses.
(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.