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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
OPERATING ACTIVITIES    
Net loss $ (92,529) $ (68,760)
Adjustments to reconcile net loss to net cash from operating activities:    
Bad debt expense (recovery) 2,638 (333)
Depreciation and amortization 11,942 6,081
Amortization of debt financing costs 1,286 1,394
Amortization of launch assets 2,683 3,735
Amortization of content assets 30,987 34,869
Deferred income taxes (7,559) (17,824)
Impairment of goodwill and intangible assets 136,521 127,581
Stock-based compensation expense 1,615 3,615
Gain on retirement of debt (44,009) (18,771)
Non-cash fair value adjustment of Employment Agreement Award 1,571 (7,307)
Other 182 (273)
Effect of change in operating assets and liabilities, net of assets acquired:    
Trade accounts receivable, net 17,413 14,730
Prepaid expenses and other current assets (3,354) 4,905
Other assets (416) (5,153)
Content assets and payables (29,793) (50,611)
Accounts payable (4,782) (4,071)
Accrued interest (11,967) (14,908)
Accrued compensation and related benefits (2,280) (5,579)
Reserve for audience deficiency (7,155) 7,357
Other liabilities 5,135 (8,817)
Net cash flows provided by operating activities 8,129 1,860
INVESTING ACTIVITIES    
Purchase of property and equipment (6,865) (5,672)
Proceeds from sale of equity securities 0 829
Cash receipts related to disposition of station 0 3,750
Investment in unconsolidated joint venture 0 (609)
Other investments (200) 0
Acquisition of station and broadcasting assets (250) 0
Net cash flows used in investing activities (7,315) (1,702)
FINANCING ACTIVITIES    
Purchase of ownership interest in Reach Media (3,232) (7,603)
Repurchase of long-term debt (51,878) (104,809)
Repurchase of common stock, including payments for taxes related to net share settlement of equity awards (2,532) (5,288)
Release of secured letters of credit deposit 0 1,260
Payment of dividends to non-controlling interest members of Reach Media (936) (1,799)
Net cash flows used in financing activities (58,578) (118,239)
NET DECREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH (57,764) (118,081)
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, beginning of period 137,574 233,570
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, end of period 79,810 115,489
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:    
Interest 40,605 50,389
Income taxes, net of refunds 238 2,341
NON-CASH FINANCING AND INVESTING ACTIVITIES:    
Settlement of stock-based compensation liability 450 4,680
Adjustment of redeemable non-controlling interests to estimated redemption value (1,179) 2,542
Non-cash additions to property and equipment $ 1,785 $ 0