v3.24.1

RESTRUCTURING CHARGES | 12 Months Ended
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Dec. 31, 2023
Restructuring and Related Activities [Abstract] |
RESTRUCTURING CHARGES | RESTRUCTURING CHARGES Restructuring Charges The following table presents the components of restructuring charges.
| Year Ended December 31
| 2023 |  | 2022 |
| (amounts in thousands)
Workforce reduction | $ | 3,124 |  |  | $ | 6,058 |  |
Costs to exit duplicative contracts | 11,474 |  |  | 1,450 |  |
Other restructuring costs | 377 |  |  | 2,500 |  |
Total restructuring charges | $ | 14,975 |  |  | $ | 10,008 |  |
Restructuring Plans During the first quarter of 2023, the Company initiated a restructuring plan (the "2023 Plan") to help mitigate the adverse impact that the current macroeconomic conditions are having on financial results and business operations. The Company continues to evaluate what, if any, further actions may be necessary related to the current macroeconomic conditions, as such this is an ongoing restructuring program. The 2023 Plan primarily included workforce reduction charges that consists of one-time termination benefits and the related costs to mitigate the adverse impacts of the current macroeconomic conditions, which includes exiting duplicative and loss-making contracts. During the third quarter of 2022, the Company initiated a restructuring plan (the "2022 Plan") to help mitigate the adverse impact that the current macroeconomic conditions are having on financial results and business operations. In connection with the sale of a radio station and the consolidation of studio facilities in a few markets, the Company abandoned certain leases. The Company computed the present value of the remaining lease payments of the lease and recorded lease abandonment costs. These lease abandonment costs include future lease liabilities offset by estimated sublease income. Due to the timing of the lease expirations, the Company assumed there was minimal sublease income. The table below sets forth the estimated amount of unpaid restructuring charges as of December 31, 2023 included in accrued expenses that are expected to be paid in less than one year.
| Year Ended December 31,
| 2023 |  | 2022 |
| (amounts in thousands)
Restructuring charges, beginning balance | $ | 2,750 |  |  | $ | 2,623 |  |
Additions | 14,975 |  |  | 10,008 |  |
Payments | (16,906) |  |  | (9,881) |  |
Restructuring charges unpaid and outstanding | 819 |  |  | 2,750 |  |
Restructuring charges - noncurrent portion | — |  |  | — |  |
Restructuring charges - current portion | $ | 819 |  |  | $ | 2,750 |  |

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- Definition The entire disclosure for restructuring and related activities. Description of restructuring activities such as exit and disposal activities, include facts and circumstances leading to the plan, the expected plan completion date, the major types of costs associated with the plan activities, total expected costs, the accrual balance at the end of the period, and the periods over which the remaining accrual will be settled. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (b)(2) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482017/420-10-50-1 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482017/420-10-50-1 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//420/tableOfContent Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482017/420-10-50-1 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SAB Topic 5.P.4(e)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479823/420-10-S99-2 + Details
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