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PROPERTY, PLANT AND EQUIPMENT, INTANGIBLE ASSETS AND GOODWILL | 6 Months Ended
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Jun. 30, 2025
Property, Plant and Equipment [Abstract] |
PROPERTY, PLANT AND EQUIPMENT, INTANGIBLE ASSETS AND GOODWILL | PROPERTY, PLANT AND EQUIPMENT, INTANGIBLE ASSETS AND GOODWILL Property, Plant and Equipment The Company’s property, plant and equipment consisted of the following classes of assets:
(In thousands) | June 30, 2025 |  | December 31, 2024
Land, buildings and improvements | $ | 328,859 |  |  | $ | 335,502 |
Towers, transmitters and studio equipment | 211,757 |  |  | 207,349 |
Computer equipment and software | 707,023 |  |  | 741,259 |
Furniture and other equipment | 53,827 |  |  | 54,108 |
Construction in progress | 20,075 |  |  | 12,186 |
| 1,321,541 |  |  | 1,350,404 |
Less: accumulated depreciation | 870,291 |  |  | 860,561 |
Property, plant and equipment, net | $ | 451,250 |  |  | $ | 489,843 |
Indefinite-lived Intangible Assets The Company’s indefinite-lived intangible assets consist of FCC broadcast licenses in its Multiplatform Group segment. Other Intangible Assets Other intangible assets consists of definite-lived intangible assets, which primarily include customer and advertiser relationships, talent and representation contracts, trademarks and tradenames and other contractual rights, all of which are amortized over the shorter of either the respective lives of the agreements or over the period of time that the assets are expected to contribute directly or indirectly to the Company’s future cash flows. The Company periodically reviews the appropriateness of the amortization periods related to its definite-lived intangible assets. These assets are recorded at amortized cost. The following table presents the gross carrying amount and accumulated amortization for each major class of other intangible assets.
(In thousands) | June 30, 2025 |  | December 31, 2024
| Gross Carrying Amount |  | Accumulated Amortization |  | Gross Carrying Amount |  | Accumulated Amortization
Customer / advertiser relationships | $ | 1,652,623 |  |  | $ | (1,035,713) |  |  | $ | 1,652,623 |  |  | $ | (967,377) |
Talent and other contracts | 338,900 |  |  | (266,910) |  |  | 338,900 |  |  | (245,909) |
Trademarks and tradenames | 335,912 |  |  | (207,442) |  |  | 335,912 |  |  | (190,450) |
Other | 18,003 |  |  | (15,228) |  |  | 18,003 |  |  | (14,120) |
Total | $ | 2,345,438 |  |  | $ | (1,525,293) |  |  | $ | 2,345,438 |  |  | $ | (1,417,856) |
Total amortization expense related to definite-lived intangible assets for the Company for the three months ended June 30, 2025 and 2024 was $53.7 million and $61.2 million, respectively. Total amortization expense related to definite-lived intangible assets for the Company for the six months ended June 30, 2025 and 2024 was $107.4 million and $123.1 million, respectively. The following table presents the Company’s estimate of amortization expense for each of the five succeeding fiscal years for definite-lived intangible assets:
(In thousands) |
2026 | $ | 201,512 |
2027 | 176,171 |
2028 | 160,395 |
2029 | 121,622 |
2030 | 16,430 |
Goodwill The following table presents the changes in the carrying amount of goodwill:
(In thousands) | Multiplatform Group |  | Digital Audio Group |  | Audio & Media Services Group |  | Consolidated
Balance as of December 31, 2024(1) | $ | 731,501 |  |  | $ | 311,353 |  |  | $ | 62,302 |  |  | $ | 1,105,156 |
Foreign currency | — |  |  | — |  |  | 351 |  |  | 351 |
Balance as of June 30, 2025 | $ | 731,501 |  |  | $ | 311,353 |  |  | $ | 62,653 |  |  | $ | 1,105,507 |
(1)Beginning goodwill balance is presented net of prior accumulated impairment losses of $2.0 billion related to our Multiplatform Group, $439.4 million related to our Digital Audio Group and $41.6 million related to our Audio & Media Services Group.
PROPERTY, PLANT AND EQUIPMENT, INTANGIBLE ASSETS AND GOODWILL | PROPERTY, PLANT AND EQUIPMENT, INTANGIBLE ASSETS AND GOODWILL Property, Plant and Equipment The Company’s property, plant and equipment consisted of the following classes of assets:
(In thousands) | June 30, 2025 |  | December 31, 2024
Land, buildings and improvements | $ | 328,859 |  |  | $ | 335,502 |
Towers, transmitters and studio equipment | 211,757 |  |  | 207,349 |
Computer equipment and software | 707,023 |  |  | 741,259 |
Furniture and other equipment | 53,827 |  |  | 54,108 |
Construction in progress | 20,075 |  |  | 12,186 |
| 1,321,541 |  |  | 1,350,404 |
Less: accumulated depreciation | 870,291 |  |  | 860,561 |
Property, plant and equipment, net | $ | 451,250 |  |  | $ | 489,843 |
Indefinite-lived Intangible Assets The Company’s indefinite-lived intangible assets consist of FCC broadcast licenses in its Multiplatform Group segment. Other Intangible Assets Other intangible assets consists of definite-lived intangible assets, which primarily include customer and advertiser relationships, talent and representation contracts, trademarks and tradenames and other contractual rights, all of which are amortized over the shorter of either the respective lives of the agreements or over the period of time that the assets are expected to contribute directly or indirectly to the Company’s future cash flows. The Company periodically reviews the appropriateness of the amortization periods related to its definite-lived intangible assets. These assets are recorded at amortized cost. The following table presents the gross carrying amount and accumulated amortization for each major class of other intangible assets.
(In thousands) | June 30, 2025 |  | December 31, 2024
| Gross Carrying Amount |  | Accumulated Amortization |  | Gross Carrying Amount |  | Accumulated Amortization
Customer / advertiser relationships | $ | 1,652,623 |  |  | $ | (1,035,713) |  |  | $ | 1,652,623 |  |  | $ | (967,377) |
Talent and other contracts | 338,900 |  |  | (266,910) |  |  | 338,900 |  |  | (245,909) |
Trademarks and tradenames | 335,912 |  |  | (207,442) |  |  | 335,912 |  |  | (190,450) |
Other | 18,003 |  |  | (15,228) |  |  | 18,003 |  |  | (14,120) |
Total | $ | 2,345,438 |  |  | $ | (1,525,293) |  |  | $ | 2,345,438 |  |  | $ | (1,417,856) |
Total amortization expense related to definite-lived intangible assets for the Company for the three months ended June 30, 2025 and 2024 was $53.7 million and $61.2 million, respectively. Total amortization expense related to definite-lived intangible assets for the Company for the six months ended June 30, 2025 and 2024 was $107.4 million and $123.1 million, respectively. The following table presents the Company’s estimate of amortization expense for each of the five succeeding fiscal years for definite-lived intangible assets:
(In thousands) |
2026 | $ | 201,512 |
2027 | 176,171 |
2028 | 160,395 |
2029 | 121,622 |
2030 | 16,430 |
Goodwill The following table presents the changes in the carrying amount of goodwill:
(In thousands) | Multiplatform Group |  | Digital Audio Group |  | Audio & Media Services Group |  | Consolidated
Balance as of December 31, 2024(1) | $ | 731,501 |  |  | $ | 311,353 |  |  | $ | 62,302 |  |  | $ | 1,105,156 |
Foreign currency | — |  |  | — |  |  | 351 |  |  | 351 |
Balance as of June 30, 2025 | $ | 731,501 |  |  | $ | 311,353 |  |  | $ | 62,653 |  |  | $ | 1,105,507 |
(1)Beginning goodwill balance is presented net of prior accumulated impairment losses of $2.0 billion related to our Multiplatform Group, $439.4 million related to our Digital Audio Group and $41.6 million related to our Audio & Media Services Group.

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- Definition The entire disclosure for long-lived, physical asset used in normal conduct of business and not intended for resale. Includes, but is not limited to, work of art, historical treasure, and similar asset classified as collections. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 360 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/360/tableOfContent Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 6 -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477798/958-360-50-6 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (d) -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477798/958-360-50-1 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 7 -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477798/958-360-50-7 + Details
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