v3.26.1
PROPERTY, PLANT AND EQUIPMENT, INTANGIBLE ASSETS AND GOODWILL
 3 Months Ended
Mar. 31, 2026
Property, Plant and Equipment [Abstract]  
PROPERTY, PLANT AND EQUIPMENT, INTANGIBLE ASSETS AND GOODWILL PROPERTY, PLANT AND EQUIPMENT, INTANGIBLE ASSETS AND GOODWILL
Property, Plant and Equipment
The Company’s property, plant and equipment consisted of the following classes of assets:
(In thousands)March 31,
2026		December 31,
2025
Land, buildings and improvements$304,423 $304,437 
Towers, transmitters and studio equipment215,747 215,697 
Computer equipment and software761,043 749,083 
Furniture and other equipment54,128 54,129 
Construction in progress19,343 11,895 
1,354,684 1,335,241 
Less: accumulated depreciation970,082 937,001 
Property, plant and equipment, net$384,602 $398,240 
Indefinite-lived Intangible Assets
The Company’s indefinite-lived intangible assets consist of FCC broadcast licenses in its Multiplatform Group segment.
Other Intangible Assets
Other intangible assets consists of definite-lived intangible assets, which primarily include customer and advertiser relationships, talent and representation contracts, trademarks and tradenames and other contractual rights, all of which are amortized over the shorter of either the respective lives of the agreements or over the period of time that the assets are expected to contribute directly or indirectly to the Company’s future cash flows. The Company periodically reviews the appropriateness of the amortization periods related to its definite-lived intangible assets. These assets are recorded at amortized cost.

The following table presents the gross carrying amount and accumulated amortization for each major class of other intangible assets.
(In thousands)March 31, 2026December 31, 2025
Gross Carrying AmountAccumulated AmortizationGross Carrying AmountAccumulated Amortization
Customer / advertiser relationships$1,652,388 $(1,137,032)$1,652,388 $(1,103,895)
Talent and other contracts338,900 (295,891)338,900 (287,167)
Trademarks and tradenames335,936 (232,519)335,936 (224,426)
Other18,003 (16,524)18,003 (15,962)
Total$2,345,227 $(1,681,966)$2,345,227 $(1,631,450)
Total amortization expense related to definite-lived intangible assets for the Company for the three months ended March 31, 2026 and 2025 was $50.6 million and $53.7 million, respectively.
The following table presents the Company’s estimate of amortization expense for each of the five succeeding fiscal years for definite-lived intangible assets:
(In thousands)
2027$174,374 
2028157,673 
2029130,718 
203016,273 
203114,616 
Goodwill
The following table presents the changes in the carrying amount of goodwill:
(In thousands)Multiplatform GroupDigital Audio GroupAudio & Media Services GroupConsolidated
Balance as of December 31, 2025(1)
$731,501 $311,353 $62,642 $1,105,496 
Foreign currency— — (47)(47)
Balance as of March 31, 2026
$731,501 $311,353 $62,595 $1,105,449 
(1)Beginning goodwill balance is presented net of prior accumulated impairment losses of $2.0 billion related to its Multiplatform Group, $439.4 million related to its Digital Audio Group and $41.6 million related to its Audio & Media Services Group.
PROPERTY, PLANT AND EQUIPMENT, INTANGIBLE ASSETS AND GOODWILL PROPERTY, PLANT AND EQUIPMENT, INTANGIBLE ASSETS AND GOODWILL
Property, Plant and Equipment
The Company’s property, plant and equipment consisted of the following classes of assets:
(In thousands)March 31,
2026		December 31,
2025
Land, buildings and improvements$304,423 $304,437 
Towers, transmitters and studio equipment215,747 215,697 
Computer equipment and software761,043 749,083 
Furniture and other equipment54,128 54,129 
Construction in progress19,343 11,895 
1,354,684 1,335,241 
Less: accumulated depreciation970,082 937,001 
Property, plant and equipment, net$384,602 $398,240 
Indefinite-lived Intangible Assets
The Company’s indefinite-lived intangible assets consist of FCC broadcast licenses in its Multiplatform Group segment.
Other Intangible Assets
Other intangible assets consists of definite-lived intangible assets, which primarily include customer and advertiser relationships, talent and representation contracts, trademarks and tradenames and other contractual rights, all of which are amortized over the shorter of either the respective lives of the agreements or over the period of time that the assets are expected to contribute directly or indirectly to the Company’s future cash flows. The Company periodically reviews the appropriateness of the amortization periods related to its definite-lived intangible assets. These assets are recorded at amortized cost.

The following table presents the gross carrying amount and accumulated amortization for each major class of other intangible assets.
(In thousands)March 31, 2026December 31, 2025
Gross Carrying AmountAccumulated AmortizationGross Carrying AmountAccumulated Amortization
Customer / advertiser relationships$1,652,388 $(1,137,032)$1,652,388 $(1,103,895)
Talent and other contracts338,900 (295,891)338,900 (287,167)
Trademarks and tradenames335,936 (232,519)335,936 (224,426)
Other18,003 (16,524)18,003 (15,962)
Total$2,345,227 $(1,681,966)$2,345,227 $(1,631,450)
Total amortization expense related to definite-lived intangible assets for the Company for the three months ended March 31, 2026 and 2025 was $50.6 million and $53.7 million, respectively.
The following table presents the Company’s estimate of amortization expense for each of the five succeeding fiscal years for definite-lived intangible assets:
(In thousands)
2027$174,374 
2028157,673 
2029130,718 
203016,273 
203114,616 
Goodwill
The following table presents the changes in the carrying amount of goodwill:
(In thousands)Multiplatform GroupDigital Audio GroupAudio & Media Services GroupConsolidated
Balance as of December 31, 2025(1)
$731,501 $311,353 $62,642 $1,105,496 
Foreign currency— — (47)(47)
Balance as of March 31, 2026
$731,501 $311,353 $62,595 $1,105,449 
(1)Beginning goodwill balance is presented net of prior accumulated impairment losses of $2.0 billion related to its Multiplatform Group, $439.4 million related to its Digital Audio Group and $41.6 million related to its Audio & Media Services Group.