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SUMMARIZED QUARTERLY FINANCIAL DATA (Unaudited) (Block) | 12 Months Ended
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Dec. 31, 2018
Quarterly Financial Information Disclosure Abstract |
Quarterly Financial Information Text Block | 22. 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 3, Bu siness Combinations, and due to the seasonality of revenues, with revenues usually the lowest in the first quarter of each year.
| Quarters Ended
| December 31 |  | September 30 |  | June 30 |  | March 31
| (amounts in thousands, except per share data)
2018 |  |  |  |  |  |  |  |  |  |  |
Net revenues | $ | 411,375 |  | $ | 378,508 |  |  | 372,124 |  | $ | 300,560
Operating income | $ | (377,593) |  | $ | 78,733 |  |  | 27,552 |  | $ | 5,689
Net income (loss) available to the Company from |  |  |  |  |  |  |  |  |  |  |
continuing operations | $ | (386,568) |  | $ | 36,590 |  | $ | 1,597 |  | $ | (14,206)
Preferred stock dividend | $ | - |  | $ | - |  | $ | - |  | $ | -
Net income available to common shareholders from |  |  |  |  |  |  |  |  |  |  |
continuing operations | $ | (386,568) |  | $ | 36,590 |  |  | 1,597 |  | $ | (14,206)
Income (loss) from discontinued operations, |  |  |  |  |  |  |  |  |  |  |
net of income taxes | $ | (378) |  | $ | 358 |  | $ | 844 |  | $ | 328
Net income (loss) available to common shareholders | $ | (386,946) |  | $ | 36,948 |  |  | 2,441 |  | $ | (13,878)
Net income (loss) from continuing operations |  |  |  |  |  |  |  |  |  |  |
per share - basic (1) | $ | (2.80) |  | $ | 0.26 |  | $ | 0.01 |  | $ | (0.10)
Net income (loss) from discontinued operations, |  |  |  |  |  |  |  |  |  |  |
net of tax, per share - basic (1) | $ | - |  | $ | - |  | $ | 0.01 |  | $ | -
Net income (loss) available to common shareholders |  |  |  |  |  |  |  |  |  |  |
per share - basic (1) | $ | (2.80) |  | $ | 0.27 |  |  | 0.02 |  | $ | (0.10)
Weighted average common shares outstanding - basic |  | 138,033 |  |  | 138,740 |  |  | 138,639 |  |  | 138,939
Net income (loss) from continuing operations |  |  |  |  |  |  |  |  |  |  |
per share - diluted (1) | $ | (2.80) |  | $ | 0.26 |  | $ | 0.01 |  | $ | (0.10)
Net income (loss) from discontinued operations, |  |  |  |  |  |  |  |  |  |  |
net of tax, per share - diluted (1) | $ | - |  | $ | - |  | $ | 0.01 |  | $ | -
Net income (loss) available to common shareholders |  |  |  |  |  |  |  |  |  |  |
per share - diluted (1) | $ | (2.80) |  | $ | 0.27 |  | $ | 0.02 |  | $ | (0.10)
Weighted average common shares outstanding - diluted |  | 138,033 |  |  | 139,103 |  |  | 139,263 |  |  | 138,939
Preferred stock dividends declared and paid | $ | - |  | $ | - |  | $ | - |  | $ | -
Common stock dividends declared and paid | $ | 12,367 |  | $ | 12,486 |  | $ | 12,475 |  | $ | 12,441
| Quarters Ended
| December 31 |  | September 30 |  | June 30 |  | March 31
| (amounts in thousands, except per share data)
2017 |  |  |  |  |  |  |  |  |  |  |
Net revenues | $ | 246,614 |  | $ | 122,299 |  | $ | 124,970 |  | $ | 99,001
Operating income | $ | (2,265) |  | $ | 13,485 |  | $ | 16,379 |  | $ | (15,016)
Income (loss) available to the Company from |  |  |  |  |  |  |  |  |  |  |
continuing operations | $ | 231,829 |  | $ | 4,100 |  | $ | 6,414 |  | $ | (9,331)
Preferred stock dividend | $ | 252 |  | $ | 663 |  | $ | 550 |  | $ | 550
Net income available to common shareholders from |  |  |  |  |  |  |  |  |  |  |
continuing operations | $ | 231,577 |  | $ | 3,437 |  | $ | 5,864 |  | $ | (9,881)
Income (loss) from discontinued operations, |  |  |  |  |  |  |  |  |  |  |
net of income taxes | $ | 836 |  | $ | - |  | $ | - |  | $ | -
Net income (loss) available to common shareholders | $ | 232,413 |  | $ | 3,437 |  | $ | 5,864 |  | $ | (9,881)
Net income (loss) from continuing operations |  |  |  |  |  |  |  |  |  |  |
per share - basic (1) | $ | 2.63 |  | $ | 0.11 |  | $ | 0.16 |  | $ | (0.24)
Net income (loss) from discontinued operations, |  |  |  |  |  |  |  |  |  |  |
net of tax, per share - basic (1) | $ | 0.01 |  | $ | - |  | $ | - |  | $ | -
Net income (loss) available to common shareholders |  |  |  |  |  |  |  |  |  |  |
per share - basic (1) | $ | 2.63 |  | $ | 0.09 |  | $ | 0.15 |  | $ | (0.25)
Weighted average common shares outstanding - basic |  | 88,309 |  |  | 38,955 |  |  | 38,945 |  |  | 38,910
Net income (loss) from continuing operations |  |  |  |  |  |  |  |  |  |  |
per share - diluted (1) | $ | 2.58 |  | $ | 0.28 |  | $ | 0.26 |  | $ | 0.11
Net income (loss) from discontinued operations, |  |  |  |  |  |  |  |  |  |  |
net of tax, per share - diluted (1) | $ | 0.01 |  | $ | - |  | $ | - |  | $ | -
Net income (loss) available to common shareholders |  |  |  |  |  |  |  |  |  |  |
per share - diluted (1) | $ | 2.59 |  | $ | 0.09 |  | $ | 0.15 |  | $ | (0.25)
Weighted average common shares outstanding - diluted |  | 89,887 |  |  | 39,728 |  |  | 39,656 |  |  | 38,910
Preferred stock dividends declared and paid | $ | 924 |  | $ | 550 |  | $ | 550 |  | $ | 550
Common stock dividends declared and paid | $ | 12,746 |  | $ | 10,713 |  | $ | 2,921 |  | $ | 2,916
Income (loss) from continuing operations per share, income (loss) from discontinued operations per share, and net income (loss) 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 quarterly financial data. Includes, but is not limited to, tabular presentation of financial information for fiscal quarters, effect of year-end adjustments, and an explanation of matters or transactions that affect comparability of the information. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -URI http://asc.fasb.org/topic&trid=2126967 + Details
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