v3.19.3.a.u2

BUSINESS COMBINATIONS (Tables)

12 Months Ended

Dec. 31, 2019

Business Combinations [Abstract]

Purchase Price Allocation

Differences between the preliminary and final valuation could be substantially different from the initial estimate.

									Useful Lives in Years
			Preliminary Value						From						To
			(amounts in thousands)
Assets
Property, plant and equipment			$	654					3						7
Total tangible property			654
Operating lease right-of-use asset			62
Deferred tax asset			2,900
Cadence 13 brand			5,977						3						3
Goodwill			31,392						non-amortizing
Total intangible and other assets			40,331
Operating lease liabilities			(985)
Net working capital			(757)
Preliminary fair value of net assets acquired			$	39,243

Differences between the preliminary and final valuation could be substantially different from the initial estimate.

									Useful Lives in Years
			Preliminary Value						From						To
			(amounts in thousands)
Assets
Accounts receivable			$	997
Pineapple Street Media brand			1,793						non-amortizing
Goodwill			12,445						non-amortizing
Total intangible and other assets			15,235
Total assets			15,235
Unearned revenue			238
Accounts payable			30
Total liabilities			$	268
Preliminary fair value of net assets acquired			$	14,967

Differences between the preliminary and final valuation could be substantially different from the initial estimate.

									Useful Lives in Years
			Preliminary Value						From						To
			(amounts in thousands)
Assets
Equipment			$	844					3						7
Total tangible property			844
Radio broadcasting licenses			19,576						non-amortizing
Goodwill			2,080						non-amortizing
Total intangible and other assets			21,656
Total assets			$	22,500
Preliminary fair value of net assets acquired			$	22,500

The following table reflects the final allocation of the purchase price of the assets acquired.

			Final Value
			(amounts in thousands)
Assets
Equipment			$	981
Total tangible property			981
Advertising contracts			477
Radio broadcasting licenses			27,346
Goodwill			24,396
Net working capital			3,234
Total intangible and other assets			55,453
Total assets			$	56,434
Preliminary fair value of net assets acquired			$	56,434

The following table reflects the final allocation of the purchase price to the assets acquired.

			Final Value
			(amounts in thousands)
Assets
Equipment			$	1,558
Total tangible property			1,558
Advertiser relationships			207
Advertising contracts			114
Radio broadcasting licenses			12,785
Goodwill			332
Other noncurrent assets			4
Total intangible and other assets			13,442
Total assets			$	15,000
Preliminary fair value of assets acquired			$	15,000

The following table reflects the final aggregate fair value purchase price allocation of these assets and liabilities assumed.

Beasley Transaction
			Assets Acquired						Assets Disposed
			(amounts in thousands)
Assets
Total property plant and equipment			$	667					$	807
Total tangible assets			667						807
Sports rights agreement			—						267
Radio broadcasting licenses			35,944						35,944
Goodwill			289						11,882
Total intangible assets			36,233						48,093
Additional cash consideration			12,000						—
Total value			$	48,900					$	48,900

iHeart Transaction
			Assets Acquired						Assets Disposed
			(amounts in thousands)
Assets
Total property plant and equipment			$	13,725					$	8,149
Total tangible assets			13,725						8,149
Acquired advertising contracts			265						—
Advertiser relationships			1,041						—
Radio broadcasting licenses			50,621						56,299
Goodwill			11,700						6,852
Total intangible assets			63,627						63,151
Liabilities
Unfavorable lease agreements assumed			(1,301)						—
Deferred tax liabilities			(4,751)						—
Total value			$	71,300					$	71,300

Summary of iHeart and Beasley Transaction by Radio Station

Summary of iHeart and Beasley Transactions by Radio Station

iHeartMedia Transaction

Market

Radio Stations

Transactions

TBA Commencement Date

Disposition or Acquisition Date

Richmond, VA

WRVA AM

Company acquired from iHeart

December 4, 2017

December 19, 2017

WRXL FM

WTVR FM

WBTJ FM

WRNL AM

WRVQ FM

Chattanooga, TN

WKXJ FM

Company acquired from iHeart

December 4, 2017

December 19, 2017

WUSY FM

WRXR FM

WLND FM

Boston, MA

WBZ AM

Company divested to iHeart

November 18, 2017

December 19, 2017

WZLX FM

WKAF FM

WRKO AM

Not applicable

Seattle, WA

KZOK FM

Company divested to iHeart

Not Applicable

December 19, 2017

KJAQ FM

KFNQ AM

November 18, 2017

Beasley Transaction

Market

Radio Stations

Transactions

TBA Commencement Date

Disposition or Acquisition Date

Boston, MA

WMJX FM

Company acquired from Beasley

December 4, 2017

December 19, 2017

Boston, MA

WBZ FM

Company divested to Beasley

Not Applicable

December 19, 2017

Components of Restructuring Charges

The following table presents the components of restructuring charges.

			Years Ended December 31
			2019						2018						2017
			(amounts in thousands)
Costs to exit duplicative contracts			$	—					$	229					$	500
Workforce reduction			6,171						3,599						10,441
Other restructuring costs			805						2,002						3,021
Transition services costs			—						—						2,960
Total restructuring charges			$	6,976					$	5,830					$	16,922

Changes in Restructuring Reserve

			Years Ended December 31,
			2019						2018
			(amounts in thousands)
Restructuring charges and lease abandonment costs, beginning balance			$	7,077					$	16,086
Additions resulting from the integration of CBS Radio			6,976						5,830
Restructuring charges assumed from the Merger			—						—
Payments			(9,802)						(14,839)
Restructuring charges and lease abandonment costs unpaid and outstanding			4,251						7,077
Restructuring charges and lease abandonment costs - noncurrent portion			(1,483)						(988)
Restructuring charges and lease abandonment costs - current portion			$	2,768					$	6,089

Pro Forma Information

These unaudited pro forma results have been prepared for comparative purposes only and do not purport to be indicative of what would have occurred had the acquisitions been made as of that date or results which may occur in the future.

			Years Ended December 31
			2019						2018						2017
			(amounts in thousands, except per share data)
			Pro Forma						Pro Forma						Pro Forma
Net revenues			$	1,528,434					$	1,501,146					$	1,607,777
Income (loss) from continuing operations			$	(419,808)					$	(360,085)					$	374,135
Income (loss) from discontinued operations			$	—					$	1,152					$	836
Net income (loss) available to the Company			$	(419,808)					$	(358,933)					$	374,971
Net income (loss) available to common shareholders			$	(419,808)					$	(358,933)					$	372,956
Income (loss) from continuing operations per common share - basic			$	(3.07)					$	(2.61)					$	2.67
Income (loss) from discontinued operations per common share - basic			$	—					$	0.01					$	0.01
Net income (loss) available to common shareholders per common share - basic			$	(3.07)					$	(2.60)					$	2.66
Income (loss) from continuing operations per common share - diluted			$	(3.07)					$	(2.61)					$	2.64
Income (loss) from discontinued operations per common share - diluted			$	—					$	0.01					$	0.01
Net income (loss) available to common shareholders per common share - diluted			$	(3.07)					$	(2.60)					$	2.63
Weighted shares outstanding basic			136,967						138,070						140,298
Weighted shares outstanding diluted			136,967						138,070						141,790

X

- References

No definition available.

+ Details

Name:	etm_ScheduleOfAcquisitionValuationTableTextBlock
Namespace Prefix:	etm_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

The entire description for costs incurred to effect a business combination that have been expensed during the period. Such costs could include business integration costs, systems integration and conversion costs, and severance and other employee-related costs.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-URI http://asc.fasb.org/topic&trid=2303972

+ Details

Name:	us-gaap_BusinessAcquisitionIntegrationRestructuringAndOtherRelatedCostsTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (h)(2)
-URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (h)(3)
-URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463

+ Details

Name:	us-gaap_BusinessAcquisitionProFormaInformationTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	us-gaap_BusinessCombinationsAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of a material business combination completed during the period, including background, timing, and recognized assets and liabilities. This table does not include leveraged buyouts.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1486-128463

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463

+ Details

Name:	us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of an entity's restructuring reserve that occurred during the period associated with the exit from or disposal of business activities or restructurings for each major type of cost. This element may also include a description of any reversal and other adjustment made during the period to the amount of an accrued liability for restructuring activities. This element may be used to encapsulate the roll forward presentations of an entity's restructuring reserve by type of cost and in total, and explanation of changes that occurred in the period.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 420
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (b)(2)
-URI http://asc.fasb.org/extlink&oid=6394359&loc=d3e17939-110869

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 420
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 5.P.4(b)(2))
-URI http://asc.fasb.org/extlink&oid=115931487&loc=d3e140904-122747

+ Details

Name:	us-gaap_ScheduleOfRestructuringReserveByTypeOfCostTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration