Assets Held for Sale and Discontinued Operations

9 Months Ended

Sep. 30, 2019

Discontinued Operations and Disposal Groups [Abstract]

Assets Held for Sale and Discontinued Operations

Assets Held for Sale and Discontinued Operations

Radio Divestiture

In the fourth quarter of 2017, we began the process to divest our radio business. Our radio business consisted of 34 radio stations in eight markets. We closed on the sale of our Tulsa radio stations on October 1, 2018, closed on the sales of our Milwaukee, Knoxville, Omaha, Springfield and Wichita radio stations on November 1, 2018 and closed on the sales of our Boise and Tucson radio stations on December 12, 2018.

Operating results of our discontinued radio operations were as follows:

(in thousands)	Three Months Ended September 30, 2018			Nine months ended September 30, 2018
Operating revenues	$	13,456		$	44,141
Total costs and expenses	(14,511		)	(39,448		)
Impairment of goodwill and intangible assets	—			(25,900		)
Other, net	—			(157		)
Loss from discontinued operations before income taxes	(1,055		)	(21,364		)
Provision (benefit) for income taxes	(147		)	990
Net loss from discontinued operations	$	(908	)	$	(22,354	)

During the year-to-date period of 2018, we recorded $25.9 million of non-cash impairment charges to write-down the goodwill of our radio business to fair value.