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SEGMENT INFORMATION | 3 Months Ended
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Mar. 31, 2022
SEGMENT INFORMATION |
SEGMENT INFORMATION | 7. SEGMENT INFORMATION: The Company has four reportable segments: (i) radio broadcasting; (ii) Reach Media; (iii) digital; and (iv) cable television. These segments operate in the United States and are consistently aligned with the Company’s management of its businesses and its financial reporting structure. The radio broadcasting segment consists of all broadcast results of operations. The Reach Media segment consists of the results of operations for the related activities and operations of our syndicated shows. The digital segment includes the results of our online business, including the operations of Interactive One, as well as the digital components of our other reportable segments. The cable television segment consists of the Company’s cable TV operation, including TV One’s and CLEO TV’s results of operations. Corporate/Eliminations represents financial activity associated with our corporate staff and offices and intercompany activity among the four segments. Operating loss or income represents total revenues less operating expenses, depreciation and amortization, and impairment of long-lived assets. Intercompany revenue earned and expenses charged between segments are recorded at estimated fair value and eliminated in consolidation. The accounting policies described in the summary of significant accounting policies in Note 1 – Organization and Summary of Significant Accounting Policies are applied consistently across the segments. Detailed segment data for the three months ended March 31, 2022 and 2021, is presented in the following tables: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended
​ | ​ | March 31,
​ |  | 2022 |  | 2021
​ | ​ | (Unaudited)
​ | ​ | (In thousands)
Net Revenue: |  | ​ |  |  | ​ |
Radio Broadcasting | ​ | $ | 31,493 | ​ | $ | 27,788
Reach Media | ​ |  | 10,030 | ​ |  | 7,816
Digital | ​ |  | 15,486 | ​ |  | 10,355
Cable Television | ​ |  | 56,434 | ​ |  | 46,241
Corporate/Eliminations* | ​ |  | (1,094) | ​ |  | (760)
Consolidated | ​ | $ | 112,349 | ​ | $ | 91,440
​ | ​ |  | ​ | ​ |  | ​
Operating Expenses (including stock-based compensation and excluding depreciation and amortization and impairment of long-lived assets): | ​ |  | ​ | ​ |  | ​
Radio Broadcasting | ​ | $ | 23,618 | ​ | $ | 23,329
Reach Media | ​ |  | 6,196 | ​ |  | 5,174
Digital | ​ |  | 10,864 | ​ |  | 8,053
Cable Television | ​ |  | 26,147 | ​ |  | 21,521
Corporate/Eliminations | ​ |  | 6,581 | ​ |  | 7,342
Consolidated | ​ | $ | 73,406 | ​ | $ | 65,419
​ | ​ |  | ​ | ​ |  | ​
Depreciation and Amortization: | ​ |  | ​ | ​ |  | ​
Radio Broadcasting | ​ | $ | 815 | ​ | $ | 729
Reach Media | ​ |  | 47 | ​ |  | 58
Digital | ​ |  | 333 | ​ |  | 324
Cable Television | ​ |  | 946 | ​ |  | 929
Corporate/Eliminations | ​ |  | 264 | ​ |  | 224
Consolidated | ​ | $ | 2,405 | ​ | $ | 2,264
​ | ​ |  | ​ | ​ |  | ​
Operating income (loss): | ​ |  | ​ | ​ |  | ​
Radio Broadcasting | ​ | $ | 7,060 | ​ | $ | 3,730
Reach Media | ​ |  | 3,787 | ​ |  | 2,584
Digital | ​ |  | 4,289 | ​ |  | 1,978
Cable Television | ​ |  | 29,341 | ​ |  | 23,791
Corporate/Eliminations | ​ |  | (7,939) | ​ |  | (8,326)
Consolidated | ​ | $ | 36,538 | ​ | $ | 23,757
​ | ​ | ​ | ​ | ​ | ​ | ​
* Intercompany revenue included in net revenue above is as follows: | ​ | ​ | ​ | ​ | ​ | ​
Radio Broadcasting |  | $ | (1,094) |  | $ | (760)
​
​ | ​ | ​ | ​ | ​ | ​ | ​
Capital expenditures by segment are as follows: |  | ​ |  |  | ​ |
Radio Broadcasting | ​ | $ | 640 | ​ | $ | 261
Reach Media | ​ |  | 21 | ​ |  | 1
Digital | ​ |  | 225 | ​ |  | 326
Cable Television | ​ |  | 383 | ​ |  | 38
Corporate/Eliminations | ​ |  | 307 | ​ |  | 178
Consolidated | ​ | $ | 1,576 | ​ | $ | 804
​ ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | As of
​ |  | March 31, |  | December 31,
​ | ​ | 2022 | ​ | 2021
​ | ​ | (Unaudited) | ​ | ​ | ​
​ | ​ | (In thousands)
Total Assets: | ​ | ​ | ​ | ​ | ​ | ​
Radio Broadcasting | ​ | $ | 621,887 | ​ | $ | 627,948
Reach Media | ​ |  | 35,924 | ​ |  | 33,451
Digital | ​ |  | 26,631 | ​ |  | 32,915
Cable Television | ​ |  | 394,468 | ​ |  | 367,896
Corporate/Eliminations | ​ |  | 205,725 | ​ |  | 198,898
Consolidated | ​ | $ | 1,284,635 | ​ | $ | 1,261,108
​

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8924-108599 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8981-108599 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8721-108599 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9031-108599 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (f) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8736-108599 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9054-108599 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8657-108599 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8721-108599 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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