v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (10,079) $ (89,708)
Adjustments to reconcile net loss to net cash from operating activities:    
Bad debt expense 830 2,413
Depreciation and amortization 12,361 5,838
Amortization of debt financing costs 542 875
Amortization of launch assets 815 1,858
Amortization of content assets 19,926 19,483
Deferred income taxes (3,144) (6,414)
Impairment of goodwill, intangible assets and long-lived assets 14,157 136,521
Stock-based compensation expense 1,881 1,250
Gain on sale of business (4,671) 0
Gain on retirement of debt (2,080) (41,884)
Non-cash fair value adjustment of Employment Agreement Award 1,182 1,312
Other 39 172
Effect of change in operating assets and liabilities:    
Trade accounts receivable, net 9,070 17,597
Prepaid expenses and other current assets (4,152) 1,181
Other assets (610) (106)
Content assets and payables (15,651) (22,080)
Accounts payable (159) (6,283)
Accrued interest 772 (2,835)
Accrued compensation and related benefits (2,605) (3,164)
Reserve for audience deficiency (4,378) (5,147)
Other liabilities 725 (2,589)
Net cash flows provided by operating activities 14,771 8,290
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of property and equipment (5,099) (3,765)
Other investments 0 (200)
Acquisition of stations and broadcasting assets 0 (250)
Escrow deposit related to acquisition (3,300) 0
Cash receipts related to sale of business 4,925 0
Net cash flows used in investing activities (3,474) (4,215)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Purchase of ownership interest in Reach Media (1,264) (3,232)
Semi-annual premium payment (3,144) 0
Borrowings under line of credit 20,000 0
Repayment of short-term borrowings under line of credit (10,000) 0
Repurchase of common stock, including payments for taxes related to net share settlement of equity awards (1,254) (1,726)
Payment of dividends to non-controlling interest members of Reach Media 0 (936)
Distribution to non-controlling interests (210) 0
Net cash flows used in financing activities (21,453) (55,432)
NET DECREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH (10,156) (51,357)
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, beginning of period 26,358 137,574
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, end of period 16,202 86,217
Cash paid for:    
Interest 5,033 22,437
Income taxes, net of refunds 462 166
NON-CASH FINANCING AND INVESTING ACTIVITIES:    
Adjustment of redeemable non-controlling interests to estimated redemption value (1,345) (1,179)
Issuance of non-controlling interests 3,030 0
Settlement of stock-based compensation liability 1,585 450
Non-cash additions to property and equipment 69 578
2031 Second Lien Notes    
CASH FLOWS FROM FINANCING ACTIVITIES:    
Repurchase of Notes (23,388) 0
2028 Notes    
CASH FLOWS FROM FINANCING ACTIVITIES:    
Repurchase of Notes $ (2,193) $ (49,538)