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Segment Information (Tables)

9 Months Ended

Sep. 30, 2022

Segment Reporting [Abstract]

Summary of reportable segment information

Reportable segment information for the three months ended September 30, 2022 is as follows:

		Audio				Digital				Other				Corporate				Total
Net revenue		$	52,995,670			$	10,241,671			$	585,947			$	—			$	63,823,288
Operating expenses			42,456,844				8,237,262				817,593				—				51,511,699
Corporate expenses			—				—				—				5,132,362				5,132,362
Depreciation and amortization			1,520,168				47,882				699,969				188,627				2,456,646
Operating income (loss)		$	9,018,658			$	1,956,527			$	(931,615	)		$	(5,320,989	)		$	4,722,581

		Audio				Digital				Other				Corporate				Total
Capital expenditures		$	4,517,127			$	25,959			$	—			$	191,949			$	4,735,035

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

		Audio				Digital				Other				Corporate				Total
Capital expenditures		$	1,108,934			$	—			$	—			$	42,029			$	1,150,963

Reportable segment information for the nine months ended September 30, 2022 is as follows:

		Audio				Digital				Other				Corporate				Total
Net revenue		$	153,778,711			$	28,769,331			$	1,805,964			$	—			$	184,354,006
Operating expenses			126,507,373				25,810,560				2,829,907				—				155,147,840
Corporate expenses			—				—				—				13,933,292				13,933,292
Depreciation and amortization			4,706,333				56,959				2,096,270				564,086				7,423,648
Impairment losses			10,476,323				—				—				—				10,476,323
Operating income (loss)		$	12,088,682			$	2,901,812			$	(3,120,213	)		$	(14,497,378	)		$	(2,627,097	)

		Audio				Digital				Other				Corporate				Total
Capital expenditures		$	10,738,350			$	36,785			$	59,084			$	398,693			$	11,232,912

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

		Audio				Digital				Other				Corporate				Total
Capital expenditures		$	3,098,655			$	87,432			$	2,852			$	515,811			$	3,704,750

Reportable segment information as of September 30, 2022 is as follows:

		Audio				Digital				Other				Corporate				Total
Property and equipment, net		$	51,657,853			$	97,142			$	71,488			$	3,885,574			$	55,712,057
FCC licenses			503,003,909				—				—				—				503,003,909
Goodwill			19,520,896				922,000				3,219,100				—				23,661,996
Other intangibles, net			1,874,274				1,032,231				18,657,255				179,663				21,743,423

Reportable segment information as of December 31, 2021 is as follows:

		Audio				Digital				Other				Corporate				Total
Property and equipment, net		$	45,696,008			$	74,547			$	21,644			$	4,050,967			$	49,843,166
FCC licenses			508,413,913				—				—				—				508,413,913
Goodwill			25,377,447				—				3,219,100				—				28,596,547
Other intangibles, net			1,974,093				—				20,543,451				179,663				22,697,207

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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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://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 https://asc.fasb.org/extlink&oid=126901519&loc=d3e8906-108599

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