XML 15 R4.htm IDEA: XBRL DOCUMENT v3.20.2
Condensed Consolidated Statements of Comprehensive Income (Loss) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Income Statement [Abstract]        
Net revenue $ 49,649,659 $ 66,114,701 $ 137,683,217 $ 189,461,003
Operating expenses:        
Operating expenses 41,589,490 49,443,632 133,868,282 144,654,507
Corporate expenses 3,712,816 5,326,660 11,950,672 15,712,635
Transaction expenses   65,423   361,935
Other operating expenses 600,000   600,000  
Depreciation and amortization 2,912,681 1,867,234 8,375,227 5,378,708
Gain on dispositions       (3,545,755)
Impairment losses     6,804,412  
Total operating expenses 48,814,987 56,702,949 161,598,593 162,562,030
Operating income (loss) 834,672 9,411,752 (23,915,376) 26,898,973
Non-operating income (expense):        
Interest expense (4,544,235) (4,406,162) (12,580,706) (13,544,083)
Loss on modification of long-term debt     (2,798,789)  
Other income (expense), net (42,156) (86,333) 55,960 (280,722)
Income (loss) before income taxes (3,751,719) 4,919,257 (39,238,911) 13,074,168
Income tax expense (benefit) (1,031,166) 1,733,980 (9,490,892) 4,266,627
Income (loss) before equity in earnings of unconsolidated affiliates (2,720,553) 3,185,277 (29,748,019) 8,807,541
Equity in earnings of unconsolidated affiliates, net of tax (4,221) (141,378) (90,715) (141,378)
Net income (loss) (2,724,774) 3,043,899 (29,838,734) 8,666,163
Earnings attributable to noncontrolling interest 339,376   881,814  
Net income (loss) attributable to BBGI stockholders $ (2,385,398) $ 3,043,899 $ (28,956,920) $ 8,666,163
Net income (loss) attributable to BBGI stockholders per Class A and B common share:        
Basic and diluted $ (0.08) $ 0.11 $ (1.02) $ 0.31
Dividends declared per common share   $ 0.05 $ 0.05 $ 0.15
Weighted average shares outstanding:        
Basic 29,154,148 27,781,412 28,362,512 27,706,759
Diluted 29,154,148 27,882,474 28,362,512 27,828,316