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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net (loss) income $ (11,739) $ 7,735
Adjustments to reconcile net (loss) income to net cash from operating activities:    
Depreciation and amortization 2,315 1,850
Amortization of debt financing costs 453 509
Amortization of launch assets 1,245 1,245
Amortization of content assets 9,882 11,444
Deferred income taxes 15,548 2,502
Impairment of intangible assets 6,443 0
Stock-based compensation expense 676 1,384
Gain on retirement of debt (11,587) (7,874)
Non-cash fair value adjustment of Employment Agreement Award 637 (23)
Other (196) (1,016)
Effect of change in operating assets and liabilities, net of assets acquired:    
Trade accounts receivable, net 19,987 10,020
Prepaid expenses and other current assets (693) 1,067
Other assets 61 (3,448)
Content assets and payables (10,744) (15,217)
Accounts payable (2,077) 1,615
Accrued interest (11,125) (14,303)
Accrued compensation and related benefits (3,407) (1,622)
Reserve for audience deficiency (2,917) 1,803
Other liabilities (677) (148)
Net cash flows provided by (used in) operating activities 2,085 (2,477)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of property and equipment (2,547) (1,814)
Proceeds from sale of equity securities 0 829
Cash receipts related to disposition of station 0 2,000
Investment in unconsolidated joint venture 0 (609)
Net cash flows (used in) provided by investing activities (2,547) 406
CASH FLOWS FROM FINANCING ACTIVITIES:    
Purchase of ownership interest in Reach Media (3,232) (7,603)
Repurchase of long-term debt (16,379) (66,225)
Repurchase of common stock, including payments for taxes related to net share settlement of equity awards (997) (1,386)
Release of secured letters of credit deposit 0 1,260
Payment of dividends to non-controlling interest members of Reach Media (936) (1,799)
Net cash flows used in financing activities (21,544) (75,753)
NET DECREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH (22,006) (77,824)
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, beginning of period 137,574 233,570
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, end of period 115,568 155,746
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:    
Interest 21,593 26,777
Income taxes, net of refunds 33 1,575
NON-CASH OPERATING, FINANCING, AND INVESTING ACTIVITIES:    
Operating right of use assets obtained in exchange for lease obligations 2,629 3,921
Settlement of stock-based compensation liability 400 4,650
Adjustment of redeemable non-controlling interests to estimated redemption value $ (105) $ 1,004