Segment Information

9 Months Ended

Sep. 30, 2013

Segment Information

Segment Information

11.  Segment Information

Our two reportable segments consist of television and online. The television segment revenues are principally derived from delivering advertisements, syndicated programs, and video news releases from advertising agencies and other content providers to traditional broadcasters and other media outlets. The online segment revenues are principally derived from online advertising and related services. We use segment adjusted EBITDA before corporate overhead as our measure of segment profit. Segment adjusted EBITDA before corporate overhead reflects income from operations before corporate overhead, acquisition, integration and other expenses, share-based compensation expense, depreciation and amortization, and goodwill impairment charges. Certain prior year amounts have been reclassified to conform to the current year presentation.  We do not disclose assets by reportable segment since some of our assets are commingled. Our reportable segments are as follows (in thousands):

	Three Months Ended September 30,
	2013							2012
	Television		Online		Consolidated			Television		Online		Consolidated
Revenues	$	51,902	$	38,228	$	90,130		$	60,102	$	33,716	$	93,818
Segment adjusted EBITDA before corporate overhead	24,741		9,597		34,338			30,602		4,306		34,908
Less corporate overhead					(5,998		)					(7,284		)
Adjusted EBITDA					28,340							27,624
Less:
Depreciation and amortization					(13,626		)					(14,542		)
Share-based compensation					(3,247		)					(4,439		)
Acquisition, integration and other					(3,677		)					(1,379		)
Goodwill impairment					—							(208,166		)
Income (loss) from operations					$	7,790						$	(200,902	)

	Nine Months Ended September 30,
	2013							2012
	Television		Online		Consolidated			Television		Online		Consolidated
Revenues	$	164,859	$	113,564	$	278,423		$	183,534	$	99,469	$	283,003
Segment adjusted EBITDA before corporate overhead	82,762		23,708		106,470			96,055		11,492		107,547
Less corporate overhead					(18,656		)					(19,936		)
Adjusted EBITDA					87,814							87,611
Less:
Depreciation and amortization					(42,361		)					(41,403		)
Share-based compensation					(9,672		)					(13,816		)
Acquisition, integration and other					(7,364		)					(5,556		)
Goodwill impairment					—							(208,166		)
Income (loss) from operations					$	28,417						$	(181,330	)