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Assets Held for Sale and Discontinued Operations | 3 Months Ended
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Mar. 31, 2022
Discontinued Operations and Disposal Groups [Abstract] |
Assets Held for Sale and Discontinued Operations | Assets Held for Sale and Discontinued Operations Stitcher On October 16, 2020, we closed on the sale of our Stitcher podcasting business. Stitcher is classified as discontinued operations in our condensed consolidated financial statements for the three months ended March 31, 2021. Operating results of our discontinued Stitcher operations were as follows:
|  |  |  | Three Months Ended March 31,
(in thousands) |  |  |  |  |  | 2021
Operating revenues |  |  |  |  |  | $ | — |
Total costs and expenses |  |  |  |  |  | — |
Depreciation and amortization of intangible assets |  |  |  |  |  | — |
Other, net |  |  |  |  |  | 2,686 |
Income from discontinued operations before income taxes |  |  |  |  |  | 2,686 |
Provision for income taxes |  |  |  |  |  | 622 |
Income from discontinued operations, net of tax |  |  |  |  |  | $ | 2,064 |
During the first quarter of 2021, the estimate for the contingent earnout consideration was increased by $2.7 million. The fair value estimate for the contingent earnout consideration was $12.7 million as of March 31, 2021. Triton Digital During the first quarter of 2021, our Board of Directors approved the sale of our Triton Digital business. On February 16, 2021, we signed a definitive agreement to sell the business and the transaction closed on March 31, 2021. The sale generated total net proceeds of $225 million and we recognized a pre-tax gain from disposition totaling $81.8 million.

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- Definition The entire disclosure related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -URI http://asc.fasb.org/topic&trid=2155823 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -URI http://asc.fasb.org/subtopic&trid=2122178 + Details
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