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Restructuring Charges
12 Months Ended
Jun. 30, 2022
Restructuring and Related Activities [Abstract]  
Restructuring Charges Restructuring Charges
For Fiscal Year 2022, the Company underwent organizational changes to further streamline operations. These measures included termination of certain employees and executives in the Entertainment reportable segment. During Fiscal Year 2022, the Company recorded $14,690 for restructuring charges related to the termination benefits provided to employees, inclusive of $4,589 of share-based compensation expenses for the acceleration of stock award vesting, which is reflected in additional paid-in capital. As of June 30, 2022, the Company had accrued severance of $8,081, which is expected to be paid by the end of Fiscal Year 2023.
During Fiscal Year 2021, the Company recorded $21,299 of restructuring charges, of which all amounts have been paid as of June 30, 2022. The Company implemented cost savings initiatives in order to streamline operations and preserve liquidity. These measures included a reduction in full-time workforce of approximately 360 employees primarily related to termination benefits provided to employees in the Entertainment reportable segment.
Such costs are reflected in restructuring charges in the accompanying consolidated and combined statements of operations for Fiscal Years 2022 and 2021.