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SEGMENT INFORMATION - Segment Data (Details) $ in Thousands | 3 Months Ended | 9 Months Ended
--- | --- | ---
Sep. 30, 2025 USD ($) | Sep. 30, 2024 USD ($) | Sep. 30, 2025 USD ($) segment | Sep. 30, 2024 USD ($)
SEGMENT INFORMATION |  |  |  |
NET REVENUE | $ 92,677 | $ 110,393 | $ 276,543 | $ 332,547
Less: |  |  |  |
Programming and technical | 34,719 | 33,920 | 93,993 | 99,849
Litigation settlement costs | 3,100 |  | 3,100 |
Depreciation and amortization |  |  | 11,942 | 6,081
Interest expense | 9,448 | 11,649 | 30,076 | 37,051
Gain on retirement of debt | (2,125) | (3,472) | (44,009) | (18,771)
Other income, net | (359) | (74) | (675) | (974)
Loss from consolidated operations before benefit from income taxes | (3,942) | (33,212) | $ (99,374) | (86,173)
Number of reportable segments | segment |  |  | 4 |
Consolidated | 3,101 | 1,633 | $ 6,865 | 5,672
Operating Segments |  |  |  |
Less: |  |  |  |
Severance-related costs | 1,620 | 251 | 1,839 | 831
Litigation settlement costs | 3,078 | 0 | 3,078 | 0
Segment Adjusted EBITDA | 22,189 | 33,108 | 66,333 | 93,909
Less: Corporate/Eliminations/Other | (7,988) | (7,694) | (25,315) | (17,316)
Corporate costs | 524 | 1,385 | 1,633 | 10,232
Loss from ceased non-core business initiatives | 0 | 762 | 466 | 1,983
Stock-based compensation | 365 | 1,152 | 1,615 | 3,615
Depreciation and amortization | 6,104 | 1,238 | 11,942 | 6,081
Impairment of goodwill and intangible assets | 0 | 46,823 | 136,521 | 127,581
Interest and investment income | (512) | (1,088) | (2,094) | (4,863)
Interest expense | 9,448 | 11,649 | 30,076 | 37,051
Gain on retirement of debt | (2,125) | (3,472) | (44,009) | (18,771)
Other income, net | (359) | (74) | (675) | (974)
Loss from consolidated operations before benefit from income taxes | (3,942) | (33,212) | (99,374) | (86,173)
Operating Segments | Radio Broadcasting |  |  |  |
SEGMENT INFORMATION |  |  |  |
NET REVENUE | 34,725 | 39,716 | 104,028 | 118,066
Less: |  |  |  |
Programming and technical | 14,275 | 11,779 | 35,561 | 34,543
Sales and marketing | 10,699 | 13,896 | 35,634 | 38,451
General and administrative | 7,011 | 8,006 | 20,434 | 23,733
Severance-related costs | 1,223 | 145 | 1,300 | 264
Litigation settlement costs | 3,078 |  | 3,078 |
Other costs (income) | 77 | 1,215 | 127 | 922
Segment Adjusted EBITDA | 7,118 | 7,395 | 16,904 | 22,525
Segment, expenditure, addition to long-lived assets | 1,791 | 1,119 |  |
Consolidated |  |  | 4,516 | 3,956
Operating Segments | Reach Media |  |  |  |
SEGMENT INFORMATION |  |  |  |
NET REVENUE | 6,147 | 10,247 | 17,315 | 37,648
Less: |  |  |  |
Programming and technical | 3,089 | 3,700 | 9,635 | 10,824
Sales and marketing | 2,624 | 1,346 | 7,802 | 14,571
General and administrative | 726 | 916 | 2,487 | 2,679
Severance-related costs | 83 | 0 | 198 | 0
Litigation settlement costs | 0 |  | 0 |
Other costs (income) | 0 | (742) | 0 | (743)
Segment Adjusted EBITDA | (209) | 3,543 | (2,411) | 8,831
Segment, expenditure, addition to long-lived assets | 84 | 20 |  |
Consolidated |  |  | 91 | 49
Operating Segments | Digital |  |  |  |
SEGMENT INFORMATION |  |  |  |
NET REVENUE | 12,696 | 18,291 | 33,162 | 44,551
Less: |  |  |  |
Programming and technical | 3,238 | 3,481 | 9,692 | 10,504
Sales and marketing | 8,245 | 8,147 | 21,604 | 21,342
General and administrative | 484 | 660 | 1,229 | 1,641
Severance-related costs | 35 | 0 | 37 | 0
Litigation settlement costs | 0 |  | 0 |
Other costs (income) | 0 | (720) | 2 | (720)
Segment Adjusted EBITDA | 764 | 5,283 | 676 | 10,344
Segment, expenditure, addition to long-lived assets | 376 | 391 |  |
Consolidated |  |  | 1,040 | 1,269
Operating Segments | Cable Television |  |  |  |
SEGMENT INFORMATION |  |  |  |
NET REVENUE | 39,790 | 42,797 | 124,053 | 134,113
Less: |  |  |  |
Programming and technical | 14,267 | 15,177 | 39,548 | 44,690
Sales and marketing | 7,161 | 6,800 | 22,088 | 25,247
General and administrative | 3,852 | 3,933 | 11,258 | 12,056
Severance-related costs | 6 | 0 | 6 | 89
Litigation settlement costs | 0 |  | 0 |
Other costs (income) | 0 | 0 | (1) | 0
Segment Adjusted EBITDA | 14,516 | 16,887 | 51,164 | 52,209
Segment, expenditure, addition to long-lived assets | 298 | 0 |  |
Consolidated |  |  | 298 | 69
Eliminations |  |  |  |
SEGMENT INFORMATION |  |  |  |
NET REVENUE | (681) | (658) | (2,015) | (1,831)
Less: |  |  |  |
Consolidated | $ 552 | $ 103 | $ 920 | $ 329

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