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SUMMARIZED QUARTERLY FINANCIAL DATA (Unaudited) (Block) | 12 Months Ended
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Dec. 31, 2015
Quarterly Financial Information Disclosure Abstract |
Quarterly Financial Information Text Block | 23. SUMMARIZED QUARTERLY FINANCIAL DATA (Unaudited) The following table presents unaudited operating results for each quarter within the two most recent years. The Company believes that all necessary adjustments, consisting only of normal recurring adjustments, have been included in the amounts stated below to present fairly the following quarterly results when read in conjunction with the financial statements included elsewhere in this report. Results of operations for any particular quart er are not necessarily indicative of results of operations for a full year. The Company’s financial results are also not comparable from quarter to quarter due to the Company’s acquisitions and dispositions of radio stations as described in Note 18 and due to the seasonality of revenues, with revenues usually the lowest in the first quarter of ea ch year.
| Quarters Ended
| December 31 |  | September 30 |  | June 30 |  | March 31
| (amounts in thousands, except per share data)
2015 |  |  |  |  |  |  |  |  |  |  |
Net revenues | $ | 117,704 |  | $ | 114,662 |  | $ | 100,592 |  | $ | 78,420
Operating income | $ | 32,555 |  | $ | 23,159 |  | $ | 20,615 |  | $ | 9,253
Net income (loss) available to the Company | $ | 14,088 |  | $ | 8,442 |  | $ | 6,747 |  | $ | (93)
Net income (loss) available to common shareholders | $ | 13,675 |  | $ | 8,103 |  | $ | 6,747 |  | $ | (93)
Net income (loss) available to common shareholders |  |  |  |  |  |  |  |  |  |  |
per share - basic (1) | $ | 0.36 |  | $ | 0.21 |  | $ | 0.18 |  | $ | -
Weighted average common shares outstanding - basic |  | 38,088 |  |  | 38,076 |  |  | 38,074 |  |  | 38,026
Net income (loss) available to common shareholders |  |  |  |  |  |  |  |  |  |  |
per share - diluted (1) | $ | 0.34 |  | $ | 0.21 |  | $ | 0.17 |  | $ | -
Weighted average common shares outstanding - diluted |  | 40,974 |  |  | 38,913 |  |  | 38,929 |  |  | 38,026
| Quarters Ended
| December 31 |  | September 30 |  | June 30 |  | March 31
| (amounts in thousands, except per share data)
2014 |  |  |  |  |  |  |  |  |  |  |
Net revenues | $ | 101,513 |  | $ | 99,840 |  | $ | 100,201 |  | $ | 78,235
Operating income | $ | 28,531 |  | $ | 21,205 |  | $ | 23,916 |  | $ | 11,924
Net income (loss) available to the Company | $ | 10,850 |  | $ | 6,473 |  | $ | 8,137 |  | $ | 1,363
Net income (loss) available to common shareholders | $ | 10,850 |  | $ | 6,473 |  | $ | 8,137 |  | $ | 1,363
Net income (loss) available to common shareholders |  |  |  |  |  |  |  |  |  |  |
per share - basic (1) | $ | 0.29 |  | $ | 0.17 |  | $ | 0.22 |  | $ | 0.04
Weighted average common shares outstanding - basic |  | 37,779 |  |  | 37,693 |  |  | 37,687 |  |  | 37,660
Net income (loss) available to common shareholders |  |  |  |  |  |  |  |  |  |  |
per share - diluted (1) | $ | 0.28 |  | $ | 0.17 |  | $ | 0.21 |  | $ | 0.04
Weighted average common shares outstanding - diluted |  | 38,730 |  |  | 38,482 |  |  | 38,446 |  |  | 38,501
Basic and diluted n et income per share is computed independently for each quarter and the full year based upon respective average shares outstanding. Therefore, the sum of the quarterly per share amounts may not equal the annual per share amounts reported.

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- Definition The entire disclosure for the quarterly financial data in the annual financial statements. The disclosure may include a tabular presentation of financial information for each fiscal quarter for the current and previous year, including revenues, gross profit, income or loss before extraordinary items and earnings per share data. It also includes an indication if the information in the note is unaudited, comments on the aggregate effect of year-end adjustments, and an explanation of matters or transactions that affect comparability or are pertinent to an understanding of the information furnished. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 45 -Paragraph 13 -URI http://asc.fasb.org/extlink&oid=6372559&loc=d3e765-108305 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a)-(j) -URI http://asc.fasb.org/extlink&oid=35737889&loc=d3e1280-108306 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 45 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=6372559&loc=d3e725-108305 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 6 -Section G -Subsection 1 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-K (SK) -Number 229 -Section 302 -Paragraph a + Details
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