SEGMENT INFORMATION

12 Months Ended

Feb. 29, 2016

Segment Reporting [Abstract]

SEGMENT INFORMATION

SEGMENT INFORMATION

The Company’s operations are aligned into three business segments: (i) Radio, (ii) Publishing and (iii) Corporate & Emerging Technologies. Emerging Technologies includes our TagStation, NextRadio and Digonex businesses. Results of Emerging Technologies were reclassified from the Radio segment in the prior periods presented below and are not material.

These business segments are consistent with the Company’s management of these businesses and its financial reporting structure. Corporate expenses are not allocated to reportable segments. Our radio operations in New York and Los Angeles, including the LMA fee we receive from a subsidiary of Disney, accounted for more than 50% of our radio revenues for the year ended February 29, 2016. The Company’s segments operate exclusively in the United States.

The accounting policies as described in the summary of significant accounting policies included in Note 1 to these consolidated financial statements, are applied consistently across segments.

Year Ended February 29, 2016	Radio		Publishing		Corporate & Emerging Technologies			Consolidated
Net revenues	$	169,228	$	60,992	$	1,213		$	231,433
Station operating expenses excluding depreciation and amortization expense	116,862		58,891		7,641			183,394
Corporate expenses excluding depreciation and amortization expense	—		—		13,023			13,023
Impairment loss	5,440		—		4,059			9,499
Depreciation and amortization	3,345		266		2,186			5,797
Loss on disposal of fixed assets	54		—		2			56
Operating income (loss)	$	43,527	$	1,835	$	(25,698	)	$	19,664

Year Ended February 28, 2015	Radio			Publishing		Corporate & Emerging Technologies			Consolidated
Net revenues	$	176,250		$	61,142	$	546		$	237,938
Station operating expenses excluding depreciation and amortization expense	117,167			60,083		3,759			181,009
Corporate expenses excluding depreciation and amortization expense	—			—		14,922			14,922
LMA fee	4,208			—		—			4,208
Hungary license litigation and related expenses	521			—		—			521
Impairment loss	67,915			—		—			67,915
Depreciation and amortization	3,143			245		2,538			5,926
Gain on contract settlement	(2,500		)	—		—			(2,500		)
Operating income (loss)	$	(14,204	)	$	814	$	(20,673	)	$	(34,063	)

Year Ended February 28, 2014	Radio			Publishing		Corporate & Emerging Technologies			Consolidated
Net revenues	$	145,276		$	59,747	$	123		$	205,146
Station operating expenses excluding depreciation and amortization expense	97,564			59,085		2,360			159,009
Corporate expenses excluding depreciation and amortization expense	—			—		17,024			17,024
Hungary license litigation and related expenses	2,058			—		—			2,058
Depreciation and amortization	2,476			235		2,155			4,866
(Gain) loss on sale of fixed assets	(10		)	2		—			(8		)
Operating income (loss)	$	43,188		$	425	$	(21,416	)	$	22,197

Total Assets	Radio		Publishing		Corporate & Emerging Technologies		Consolidated
As of February 28, 2015	$	280,158	$	21,622	$	29,514	$	331,294
As of February 29, 2016	271,336		22,060		23,210		316,606