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Segment Information (Tables)

9 Months Ended

Sep. 30, 2023

Segment Reporting [Abstract]

Summary of reportable segment information

Reportable segment information for the three months ended September 30, 2023 is as follows:

		Audio				Digital				Other				Corporate				Total
Net revenue		$	48,332,715			$	11,177,881			$	609,161			$	-			$	60,119,757
Operating expenses			38,932,340				10,110,593				1,074,111				-				50,117,044
Corporate expenses			-				-				-				4,493,277				4,493,277
Depreciation and amortization			1,741,376				47,397				199,979				212,912				2,201,664
FCC licenses impairment losses			78,204,065				-				-				-				78,204,065
Goodwill impairment loss			10,582,360				-				-				-				10,582,360
Operating income (loss)		$	(81,127,426	)		$	1,019,891			$	(664,929	)		$	(4,706,189	)		$	(85,478,653	)

		Audio				Digital				Other				Corporate				Total
Capital expenditures		$	1,026,120			$	1,594			$	-			$	16,817			$	1,044,531

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 nine months ended September 30, 2023 is as follows:

		Audio				Digital				Other				Corporate				Total
Net revenue		$	146,198,774			$	33,455,935			$	1,705,891			$	-			$	181,360,600
Operating expenses			118,200,967				30,804,774				3,092,520				-				152,098,261
Corporate expenses			-				-				-				13,381,403				13,381,403
Depreciation and amortization			5,253,581				141,364				595,746				636,283				6,626,974
FCC licenses impairment losses			88,245,065				-				-				-				88,245,065
Goodwill impairment loss			10,582,360				-				-				-				10,582,360
Operating income (loss)		$	(76,083,199	)		$	2,509,797			$	(1,982,375	)		$	(14,017,686	)		$	(89,573,463	)

		Audio				Digital				Other				Corporate				Total
Capital expenditures		$	2,975,897			$	13,184			$	25,534			$	46,101			$	3,060,716

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
FCC licenses impairment losses			4,619,772				-				-				-				4,619,772
Goodwill impairment losses			5,856,551				-				-				-				5,856,551
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 as of September 30, 2023 is as follows:

		Audio				Digital				Other				Corporate				Total
Property and equipment, net		$	49,202,607			$	102,950			$	79,095			$	3,094,734			$	52,479,386
FCC licenses			393,976,500				-				-				-				393,976,500
Goodwill			-				922,000				1,761,100				-				2,683,100
Other intangibles, net			1,741,182				874,315				4,698,716				179,663				7,493,876
Assets held for sale			4,827,864				-				-				-				4,827,864

Reportable segment information as of December 31, 2022 is as follows:

		Audio				Digital				Other				Corporate				Total
Property and equipment, net		$	51,941,687			$	112,693			$	67,751			$	3,684,916			$	55,807,047
FCC licenses			487,249,798				-				-				-				487,249,798
Goodwill			10,582,360				922,000				1,761,100				-				13,265,460
Other intangibles, net			1,841,001				992,752				5,206,523				179,663				8,219,939

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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
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 25
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-25

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-30

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No definition available.

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