RESTRUCTURING CHARGES

12 Months Ended

Dec. 31, 2023

Restructuring and Related Activities [Abstract]

RESTRUCTURING CHARGES

RESTRUCTURING CHARGES

Restructuring Charges

The following table presents the components of restructuring charges.

	Year Ended December 31
	2023		2022
	(amounts in thousands)
Workforce reduction	$	3,124	$	6,058
Costs to exit duplicative contracts	11,474		1,450
Other restructuring costs	377		2,500
Total restructuring charges	$	14,975	$	10,008

Restructuring Plans

During the first quarter of 2023, the Company initiated a restructuring plan (the "2023 Plan") to help mitigate the adverse impact that the current macroeconomic conditions are having on financial results and business operations. The Company continues to evaluate what, if any, further actions may be necessary related to the current macroeconomic conditions, as such this is an ongoing restructuring program. The 2023 Plan primarily included workforce reduction charges that consists of one-time termination benefits and the related costs to mitigate the adverse impacts of the current macroeconomic conditions, which includes exiting duplicative and loss-making contracts.

During the third quarter of 2022, the Company initiated a restructuring plan (the "2022 Plan") to help mitigate the adverse impact that the current macroeconomic conditions are having on financial results and business operations. In connection with the sale of a radio station and the consolidation of studio facilities in a few markets, the Company abandoned certain leases. The Company computed the present value of the remaining lease payments of the lease and recorded lease abandonment costs. These lease abandonment costs include future lease liabilities offset by estimated sublease income. Due to the timing of the lease expirations, the Company assumed there was minimal sublease income.

The table below sets forth the estimated amount of unpaid restructuring charges as of December 31, 2023 included in accrued expenses that are expected to be paid in less than one year.

	Year Ended December 31,
	2023		2022
	(amounts in thousands)
Restructuring charges, beginning balance	$	2,750	$	2,623
Additions	14,975		10,008
Payments	(16,906)		(9,881)
Restructuring charges unpaid and outstanding	819		2,750
Restructuring charges - noncurrent portion	—		—
Restructuring charges - current portion	$	819	$	2,750