v3.26.1
SEGMENT INFORMATION (Tables)
 6 Months Ended
Jun. 30, 2026
Segment Reporting [Abstract]  
Schedule of Segment Reporting Information
Detailed segment data for the three and six months ended June 30, 2026 and 2025 is presented in the following table:
Three Months Ended June 30, 2026
(In thousands)
Radio BroadcastingReach MediaDigitalCable Television
NET REVENUE$35,276$4,754$9,397$37,121
Less:
Programming and technical 10,9103,2033,12712,704
Sales and marketing11,6411,9055,8585,913
General and administrative6,7246735144,299
Add back:
Severance-related costs51—10—
Other costs236———
Segment Adjusted EBITDA$6,288 $(1,027)$(92)$14,205 
Three Months Ended June 30, 2025
(In thousands)
Radio BroadcastingReach MediaDigitalCable Television
NET REVENUE$36,693$5,315$10,254$40,070
Less:
Programming and technical 9,9933,1783,26712,372
Sales and marketing
13,3893,0536,5725,831
General and administrative
6,3737355613,811
Segment Adjusted EBITDA$6,938 $(1,651)$(146)$18,056 
Six Months Ended June 30, 2026
(In thousands)
Radio BroadcastingReach MediaDigitalCable Television
NET REVENUE$65,811$9,614$16,185$73,154
Less:
Programming and technical 22,5166,2866,16825,150
Sales and marketing22,1593,54610,48613,317
General and administrative13,3651,4091,0017,538
Add back:
Severance-related costs997216—
Other costs237———
Segment Adjusted EBITDA$8,107 $(1,555)$(1,454)$27,149 
Six Months Ended June 30, 2025
(In thousands)
Radio BroadcastingReach MediaDigitalCable Television
NET REVENUE$69,303$11,168$20,466$84,263
Less:
Programming and technical21,2866,5466,45425,281
Sales and marketing24,9355,17813,35914,927
General and administrative13,4231,7617457,406
Add back/(deduct):
Severance-related costs771143(1)
Other costs5011—
Segment Adjusted EBITDA$9,786 $(2,202)$(88)$36,648 
Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
(In thousands)(In thousands)
Segment Adjusted EBITDA to Loss before benefit from income taxes reconciliation
Segment Adjusted EBITDA$19,374 $23,197 $32,247 $44,144 
Less: Corporate/Eliminations/Other(7,651)(9,237)(15,868)(17,327)
Corporate costs(a)
856 362 1,215 1,109 
Severance-related costs85— 219 — 
Loss from ceased non-core business initiatives— 107 — 466 
Stock-based compensation1,680 574 1,881 1,250 
Depreciation and amortization6,184 3,523 12,361 5,838 
Impairment of goodwill, intangible assets and long-lived assets14,157 130,078 14,157 136,521 
Interest and investment income— (616)(8)(1,582)
Interest expense2,070 9,704 6,477 20,628 
Gain on sale of business(4,671)— (4,671)— 
Gain on retirement of debt— (30,297)(2,080)(41,884)
Other expense (income), net43 (124)51 (316)
Loss before benefit from income taxes$(8,681)$(99,351)$(13,223)$(95,432)
(a) Corporate costs primarily include professional fees related to the material weakness remediation efforts as well as legal cost related to acquisition activities.
Three Months Ended June 30,
20262025
(In thousands)
Capital expenditures:
Radio Broadcasting$1,041$590
Reach Media778
Digital295380
Cable Television20—
All other - corporate/eliminations314240
Consolidated$1,747$1,218
Six Months Ended June 30,
20262025
(In thousands)
Capital expenditures:
Radio Broadcasting$3,928$2,725
Reach Media778
Digital615664
Cable Television75—
All other - corporate/eliminations404368
Consolidated$5,099$3,765