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Segment Information (Tables)

9 Months Ended

Sep. 30, 2021

Segment Reporting [Abstract]

Summary of reportable segment information

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

		Audio				Digital				Other				Corporate				Total
Net revenue		$	54,043,650			$	8,318,112			$	541,173			$	—			$	62,902,935
Operating expenses			42,287,054				8,047,207				851,803				—				51,186,064
Corporate expenses			—				—				—				3,980,815				3,980,815
Depreciation and amortization			1,896,729				4,371				796,018				146,232				2,843,350
Operating income (loss)		$	9,859,867			$	266,534			$	(1,106,648	)		$	(4,127,047	)		$	4,892,706

Reportable segment information for the nine months ended September 30, 2021 is as follows:

		Audio				Digital				Other				Corporate				Total
Net revenue		$	146,988,486			$	22,065,183			$	1,636,011			$	—			$	170,689,680
Operating expenses			116,737,528				23,215,540				2,695,287				—				142,648,355
Corporate expenses			—				—				—				11,843,958				11,843,958
Depreciation and amortization			5,812,342				8,513				2,403,940				421,379				8,646,174
Gain on disposition			(191,988	)			—				—				—				(191,988	)
Other operating (income) expense, net			500,000				—				—				(900,000	)			(400,000	)
Operating income (loss)		$	24,130,604			$	(1,158,870	)		$	(3,463,216	)		$	(11,365,337	)		$	8,143,181

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

		Audio				Digital				Other				Corporate				Total
Capital expenditures		$	3,098,655			$	87,432			$	2,852			$	515,811			$	3,704,750
Property and equipment, net			46,154,908				78,919				22,618				4,780,616				51,037,061
FCC licenses			508,413,913				—				—				—				508,413,913
Goodwill			25,377,447				—				3,219,100				—				28,596,547
Other intangibles, net			2,010,106				—				21,238,466				179,663				23,428,235

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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=123359005&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=123359005&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=123359005&loc=d3e8906-108599

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- References

No definition available.

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