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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:    
Consolidated net income (loss) $ 17,070,000 $ 461,000
Adjustments to reconcile net income (loss) to net cash from operating activities:    
Depreciation and amortization 2,405,000 2,264,000
Amortization of debt financing costs 501,000 824,000
Amortization of content assets 10,532,000 8,298,000
Amortization of launch assets 652,000 334,000
Bad debt expense 311,000 283,000
Deferred income taxes 5,586,000 (10,000)
Amortization of right of use assets 2,132,000 1,875,000
Non-cash lease liability expense 1,043,000 1,154,000
Non-cash interest expense 0 158,000
Stock-based compensation 124,000 253,000
Non-cash fair value adjustment of Employment Agreement Award 579,000 597,000
Loss on retirement of debt 0 6,949,000
Effect of change in operating assets and liabilities, net of assets acquired:    
Trade accounts receivable 13,448,000 11,380,000
Prepaid expenses and other current assets (592,000) 18,000
Other assets (216,000) (1,100,000)
Accounts payable (2,591,000) (2,098,000)
Accrued interest (15,192,000) 3,187,000
Accrued compensation and related benefits (4,125,000) (6,378,000)
Other liabilities (4,641,000) (2,050,000)
Payments for content assets (11,292,000) (12,106,000)
Net cash flows provided by operating activities 15,734,000 14,293,000
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchases of property and equipment (1,576,000) (804,000)
Net cash flows used in investing activities (1,576,000) (804,000)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from issuance of Class A common stock, net of fees 0 12,125,000
Proceeds from 2028 Notes 0 825,000,000
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)
Repurchase of common stock (10,000) (872,000)
Net cash flows used in financing activities (10,000) (30,060,000)
INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH 14,148,000 (16,571,000)
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, beginning of period 152,218,000 73,858,000
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, end of period 166,366,000 57,287,000
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:    
Cash paid for: Interest 30,619,000 13,876,000
Cash paid for: Income taxes, net of refunds 2,000 (32,000)
NON-CASH OPERATING, FINANCING AND INVESTING ACTIVITIES:    
Right of use asset and lease liability additions 435,000 1,351,000
Non-cash launch addition 18,750,000 0
Adjustment of redeemable noncontrolling interests to estimated redemption value 39,000 (420,000)
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)