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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Dec. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:          
Consolidated net income $ 15,804,000 $ 18,478,000 $ 32,874,000 $ 18,939,000  
Adjustments to reconcile net income to net cash from operating activities:          
Depreciation and amortization     4,886,000 4,589,000  
Amortization of debt financing costs     1,005,000 1,296,000  
Amortization of content assets     20,341,000 18,575,000  
Amortization of launch assets     1,897,000 668,000  
Bad debt expense     (35,000) 134,000  
Deferred income taxes     8,597,000 6,108,000  
Amortization of right of use assets     4,330,000 3,851,000  
Non-cash lease liability expense     2,038,000 2,066,000  
Non-cash interest expense     0 158,000  
Impairment of long-lived assets 16,933,000   16,933,000 0  
Stock-based compensation 336,000 172,000 460,000 425,000  
Non-cash fair value adjustment of Employment Agreement Award     1,482,000 1,508,000  
Non-cash income on PPP loan forgiveness     (7,575,000) 0  
(Gain) loss on retirement of debt (1,855,000) 0 (1,855,000) 6,949,000  
Gain on asset exchange agreement     0 404,000  
Effect of change in operating assets and liabilities, net of assets acquired:          
Trade accounts receivable     3,483,000 2,260,000  
Prepaid expenses and other current assets     (394,000) (1,285,000)  
Other assets     (698,000) (8,512,000)  
Accounts payable     231,000 1,388,000  
Accrued interest     (810,000) 18,397,000  
Accrued compensation and related benefits     (3,688,000) (5,597,000)  
Other liabilities     (7,283,000) 235,000  
Payment of launch support     (5,000,000) 0  
Payments for content assets     (27,595,000) (21,064,000)  
Net cash flows provided by operating activities     43,624,000 51,492,000  
CASH FLOWS FROM INVESTING ACTIVITIES:          
Purchases of property and equipment     (3,871,000) (2,454,000)  
Proceeds from sale of broadcasting assets     0 8,000,000  
Net cash flows (used in) provided by investing activities     (3,871,000) 5,546,000  
CASH FLOWS FROM FINANCING ACTIVITIES:          
Proceeds from issuance of Class A common stock, net of fees     0 33,282,000  
Proceeds from exercise of stock options     50,000 315,000  
Repurchase of 2028 Notes     (22,750,000) 0  
Payment of dividends to noncontrolling interest members of Reach Media     (1,599,000) 0  
Repurchase of common stock     (24,669,000) (905,000)  
Proceeds from 2028 Notes     0 825,000,000  
Proceeds from PPP Loan     0 7,505,000  
Debt refinancing costs     0 (11,157,000)  
Repayment of MGM National Harbor Loan     0 (57,889,000)  
Repayment of 7.375% Notes     0 (2,984,000)  
Repayment of 8.75% Notes     0 (347,016,000)  
Net cash flows used in financing activities     (48,968,000) (1,116,000)  
(DECREASE) INCREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH     (9,215,000) 55,922,000  
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, beginning of period     152,218,000 73,858,000 $ 73,858,000
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, end of period $ 143,003,000 $ 129,780,000 143,003,000 129,780,000 $ 152,218,000
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:          
Cash paid for: Interest     31,543,000 14,048,000  
Cash paid for: Income taxes, net of refunds     698,000 782,000  
NON-CASH OPERATING, FINANCING AND INVESTING ACTIVITIES:          
Assets acquired under Audacy asset exchange     0 28,193,000  
Liabilities recognized under Audacy asset exchange     0 2,669,000  
Right of use asset and lease liability additions     435,000 4,935,000  
Non-cash launch addition     13,750,000 0  
Adjustment of redeemable noncontrolling interests to estimated redemption value     1,803,000 1,425,000  
2018 Credit Facility.          
CASH FLOWS FROM FINANCING ACTIVITIES:          
Repayment of credit facility     0 (129,935,000)  
2017 Credit Facility.          
CASH FLOWS FROM FINANCING ACTIVITIES:          
Repayment of credit facility     $ 0 $ (317,332,000)