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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 39,955,000 $ 39,106,000
Adjustments to reconcile net income to net cash from operating activities:    
Depreciation and amortization 10,034,000 9,289,000
Amortization of debt financing costs 1,989,000 2,267,000
Amortization of content assets 43,533,000 47,126,000
Amortization of launch assets 4,380,000 1,600,000
Bad debt expense 1,425,000 1,584,000
Deferred income taxes 14,878,000 11,971,000
Reduction in the carrying amount of right of use assets 8,716,000 7,793,000
Non-cash interest expense 0 158,000
Impairment of goodwill and broadcasting licenses 40,683,000 2,104,000
Stock-based compensation 6,595,000 565,000
Non-cash fair value adjustment of Employment Agreement Award 2,129,000 6,163,000
Non-cash income on PPP loan forgiveness (7,575,000) 0
(Gain) loss on retirement of debt (6,718,000) 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 (16,930,000) (22,807,000)
Prepaid expenses and other current assets (6,691,000) 6,651,000
Other assets 1,022,000 (13,745,000)
Accounts payable 1,111,000 3,606,000
Accrued interest (2,347,000) 17,441,000
Accrued compensation and related benefits 6,461,000 (1,342,000)
Other liabilities (3,710,000) (1,288,000)
Payment of launch support (9,250,000) 0
Changes in content assets (62,630,000) (45,445,000)
Net cash flows provided by operating activities 67,060,000 80,150,000
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchases of property and equipment (6,763,000) (6,286,000)
Proceeds from sale of broadcasting assets 3,080,000 8,000,000
Acquisition of broadcasting assets (25,000,000) 0
Net cash flows (used in) provided by investing activities (28,683,000) 1,714,000
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from issuance of Class A common stock, net of fees 0 33,277,000
Proceeds from exercise of stock options 50,000 397,000
Repurchase of 2028 Notes (67,124,000) 0
Payment of dividends to noncontrolling interest members of Reach Media (1,599,000) (2,400,000)
Repurchase of common stock (26,543,000) (970,000)
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 (95,216,000) (3,504,000)
(DECREASE) INCREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH (56,839,000) 78,360,000
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, beginning of period 152,218,000 73,858,000
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, end of period 95,379,000 152,218,000
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:    
Cash paid for: Interest 62,039,000 45,836,000
Cash paid for: Income taxes, net of refunds 2,089,000 1,142,000
NON-CASH OPERATING, FINANCING AND INVESTING ACTIVITIES:    
Assets acquired under Audacy asset exchange 0 28,193,000
Liabilities recognized under asset exchange/asset acquisition 1,240,000 2,669,000
Right of use asset and lease liability additions 3,876,000 6,392,000
Right of use asset and lease liability terminations 2,418,000 0
Non-cash launch additions 9,500,000 0
Non-cash content asset additions 15,246,000 0
Adjustment of redeemable noncontrolling interests to estimated redemption value 5,616,000 4,798,000
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)