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Segment Information (Tables)

6 Months Ended

Jun. 30, 2021

Segment Reporting [Abstract]

Summary of reportable segment information

Reportable segment information for the three months ended June 30, 2021 is as follows:

		Audio				Digital				Other				Corporate				Total
Net revenue		$	51,215,234			$	7,983,343			$	376,128			$	—			$	59,574,705
Operating expenses			39,715,005				7,910,418				868,997				—				48,494,420
Corporate expenses			—				—				—				3,957,854				3,957,854
Depreciation and amortization			1,911,236				4,142				796,019				139,526				2,850,923
Other operating income			—				—				—				(1,500,000	)			(1,500,000	)
Operating income (loss)		$	9,588,993			$	68,783			$	(1,288,888)			$	(2,597,380)			$	5,771,508

Reportable segment information for the six months ended June 30, 2021 is as follows:

		Audio				Digital				Other				Corporate				Total
Net revenue		$	92,944,836			$	13,747,071			$	1,094,838			$	—			$	107,786,745
Operating expenses			74,450,474				15,168,333				1,843,484				—				91,462,291
Corporate expenses			—				—				—				7,863,143				7,863,143
Depreciation and amortization			3,915,613				4,142				1,607,922				275,147				5,802,824
Gain on disposition			(191,988	)			—				—				—				(191,988	)
Other operating (income) expense, net			500,000				—				—				(900,000	)			(400,000	)
Operating income (loss)		$	14,270,737			$	(1,425,404)			$	(2,356,568)			$	(7,238,290)			$	3,250,475

Reportable segment information as of June 30, 2021 is as follows:

		Audio				Digital				Other				Corporate				Total
Capital expenditures		$	1,989,721			$	87,432			$	2,852			$	473,782			$	2,553,787
Property and equipment, net			46,920,430				83,290				23,329				4,884,819				51,911,868
FCC licenses			508,413,913				—				—				—				508,413,913
Goodwill			25,377,447				—				3,219,100				—				28,596,547
Other intangibles, net			2,046,118				—				22,012,773				179,663				24,238,554

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- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 25
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8813-108599

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8906-108599

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- References

No definition available.

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