Salem Media (SALM) 10-Q 8 Nov 18 2018 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2018	Nov. 02, 2018
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2018
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q3
Trading Symbol	SALM
Entity Registrant Name	SALEM MEDIA GROUP, INC. /DE/
Entity Central Index Key	1,050,606
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Common Class A [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		20,632,416
Common Class B [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		5,553,696

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
Current assets:
Cash and cash equivalents	$ 17	$ 3
Trade accounts receivable (net of allowances of $11,019 in 2017 and $10,764 in 2018)	35,058	32,545
Unbilled revenue	2,149	2,298
Other receivables (net of allowances of $227 in 2017 and $163 in 2018)	898	820
Inventories (net of reserves of $1,657 in 2017 and $796 in 2018)	891	730
Prepaid expenses	7,376	6,824
Assets held for sale	1,375	3,500
Total current assets	47,764	46,720
Land held for sale		1,000
Notes receivable (net of allowance of $759 in 2017 and $748 in 2018)	217	53
Property and equipment (net of accumulated depreciation of $164,720 in 2017 and $167,934 in 2018)	96,712	99,480
Broadcast licenses	379,182	380,914
Goodwill	26,789	26,424
Other indefinite-lived intangible assets	313	313
Amortizable intangible assets (net of accumulated amortization of $47,179 in 2017 and $51,545 in 2018)	12,899	13,104
Deferred financing costs	397	550
Deferred income taxes	1,070	1,070
Other assets	3,590	3,191
Total assets	568,933	572,819
Current liabilities:
Accounts payable	4,583	1,584
Accrued expenses	10,877	9,281
Accrued compensation and related expenses	9,556	7,643
Accrued interest	5,521	1,445
Contract liabilities	12,348	12,763
Deferred rent expense	142	152
Income taxes payable	241	172
Current portion of long-term debt and capital lease obligations	10,228	9,109
Total current liabilities	53,496	42,149
Long-term debt and capital lease obligations, less current portion	240,182	249,579
Deferred income taxes	33,850	34,151
Deferred rent expense, long term	13,339	13,644
Contract liabilities, long-term	1,553	1,951
Other long-term liabilities	62	64
Total liabilities	342,482	341,538
Commitments and contingencies (Note 18)
Stockholders' Equity:
Additional paid-in capital	245,040	244,634
Accumulated earnings	15,134	20,370
Treasury stock, at cost (2,317,650 shares at December 31, 2017 and September 30, 2018)	(34,006)	(34,006)
Total stockholders' equity	226,451	231,281
Total liabilities and stockholders' equity	568,933	572,819
Common Class A [Member]
Stockholders' Equity:
Common stock	227	227
Common Class B [Member]
Stockholders' Equity:
Common stock	$ 56	$ 56

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
Trade accounts receivable, allowances	$ 10,764	$ 11,019
Allowance for Doubtful Other Receivables, Current	163	227
Inventories, reserves	796	1,657
Notes receivable, allowance	748	759
Property and equipment, accumulated depreciation	167,934	164,720
Amortizable intangible assets, accumulated amortization	$ 51,545	$ 47,179
Treasury stock, shares	2,317,650	2,317,650
Common Class A [Member]
Common stock, par value	$ 0.01	$ 0.01
Common stock, authorized	80,000,000	80,000,000
Common stock, issued	22,950,066	22,932,451
Common stock, outstanding	20,632,416	20,614,801
Common Class B [Member]
Common stock, par value	$ 0.01	$ 0.01
Common stock, authorized	20,000,000	20,000,000
Common stock, issued	5,553,696	5,553,696
Common stock, outstanding	5,553,696	5,553,696

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Total revenue	$ 65,528	$ 65,433	$ 195,595	$ 196,525
Operating expenses:
Unallocated corporate expenses exclusive of depreciation and amortization shown below (including $98 and $41 for the three months ended September 30, 2017 and 2018, respectively, and $237 and $198 for the nine months ended September 30, 2017 and 2018, respectively, paid to related parties)	3,987	4,233	11,938	13,183
Depreciation	3,032	3,082	9,076	9,171
Amortization	1,604	1,135	4,558	3,420
Change in the estimated fair value of contingent earn-out consideration		(12)	72	(54)
Impairment of indefinite-lived long-term assets other than goodwill			0	19
Net (gain) loss on the disposition of assets	(759)	95	4,400	(410)
Operating expenses	59,253	60,428	182,306	178,082
Operating income	6,275	5,005	13,289	18,443
Other income (expense):
Interest income	2	1	4	3
Interest expense	(4,507)	(4,802)	(13,779)	(12,156)
Change in the fair value of interest rate swap				357
Gain (loss) on early retirement of long-term debt			234	(2,775)
Net miscellaneous income and (expenses)	1	(80)	(12)	(80)
Net income (loss) before income taxes	1,771	124	(264)	3,792
Provision for (benefit from) income taxes	564	170	(132)	1,506
Net income (loss)	$ 1,207	$ (46)	$ (132)	$ 2,286
Basic earnings (loss) per share data:
Basic earnings (loss) per share	$ 0.05		$ (0.01)	$ 0.09
Diluted earnings (loss) per share data:
Diluted earnings (loss) per share	0.05		(0.01)	0.09
Distributions per share	$ 0.07	$ 0.07	$ 0.20	$ 0.20
Basic weighted average shares outstanding	26,183,910	26,144,796	26,177,565	26,036,333
Diluted weighted average shares outstanding	26,312,194	26,144,796	26,177,565	26,454,923
Broadcast [Member]
Total revenue	$ 48,812	$ 48,424	$ 147,425	$ 145,479
Operating expenses:
Operating expenses	37,158	37,040	110,151	108,807
Digital Media [Member]
Total revenue	10,397	10,446	31,051	31,998
Operating expenses:
Operating expenses	8,021	8,169	24,792	25,241
Publishing [Member]
Total revenue	6,319	6,563	17,119	19,048
Operating expenses:
Operating expenses	$ 6,210	$ 6,686	$ 17,319	$ 18,705

Consolidated Statements of Op_2

Consolidated Statements of Operations (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Operating expenses	$ 59,253	$ 60,428	$ 182,306	$ 178,082
Unallocated corporate expenses exclusive of depreciation and amortization	3,987	4,233	11,938	13,183
Related Party [Member]
Unallocated corporate expenses exclusive of depreciation and amortization	41	98	198	237
Broadcast [Member]
Operating expenses	37,158	37,040	110,151	108,807
Broadcast [Member] | Related Party [Member]
Operating expenses	$ 564	$ 534	$ 1,699	$ 1,648

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended		6 Months Ended	9 Months Ended		12 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Jun. 30, 2017	Sep. 30, 2018	Sep. 30, 2017	Dec. 31, 2017
OPERATING ACTIVITIES
Net income (loss)				$ (132)	$ 2,286
Adjustments to reconcile net income to net cash provided by operating activities:
Non-cash stock-based compensation	$ 191	$ 268		363	1,693
Depreciation and amortization				13,634	12,591
Amortization of deferred financing costs				855	645
Accretion of financing items					74
Accretion of acquisition-related deferred payments and contingent consideration				24	32
Provision for bad debts				1,498	1,548
Deferred income taxes				(301)	1,409
Change in the fair value of interest rate swap					(357)
Change in the estimated fair value of contingent earn-out consideration		(12)		72	(54)
Impairment of indefinite-lived long-term assets other than goodwill			$ 19	0	19
(Gain) loss on early retirement of long-term debt				(234)	2,775
(Gain) loss on the disposition of assets	(759)	95		4,400	(410)
Changes in operating assets and liabilities:
Accounts receivable and unbilled revenue				(3,829)	(463)
Inventories				(161)	(139)
Prepaid expenses and other current assets				(560)	(1,001)
Accounts payable and accrued expenses				7,224	5,152
Deferred rent expense				(304)	(3)
Contract liabilities				(2,380)	(577)
Other liabilities				(40)	(3)
Income taxes payable				69	(49)
Net cash provided by operating activities				20,198	25,168
INVESTING ACTIVITIES
Cash paid for capital expenditures net of tenant improvement allowances				(6,513)	(6,800)
Capital expenditures reimbursable under tenant improvement allowances and trade agreements				(77)	(50)
Escrow deposits paid related to acquisitions					(30)
Purchases of broadcast assets and radio stations				(6,534)	(1,662)
Purchases of digital media businesses and assets				(4,320)	(1,690)
Proceeds from sale of assets				8,518	602
Other				(398)	(224)
Net cash used in investing activities				(9,324)	(9,854)
FINANCING ACTIVITIES
Payments to repurchase 6.75% Senior Secured Notes				(9,550)
Payment of interest rate swap					(783)
Proceeds from bond offering					255,000
Payment of debt issuance costs				(11)	(6,837)
Payments of acquisition-related contingent earn-out consideration				(140)	(14)
Payments of deferred installments due from acquisition activity					(225)
Proceeds from the exercise of stock options				43	501
Payments of capital lease obligations				(73)	(93)
Payment of cash distribution on common stock				(5,104)	(5,089)
Book overdraft				2,775	(1,053)
Net cash used in financing activities				(10,860)	(15,440)
Net increase (decreased) in cash and cash equivalents				14	(126)
Cash and cash equivalents at beginning of year			$ 130	3	130	$ 130
Cash and cash equivalents at end of period	$ 17	$ 4		17	4	$ 3
Supplemental disclosures of cash flow information:
Cash paid for interest, net of capitalized interest				8,794	4,962
Cash paid for income taxes, net of refunds				99	128
Other supplemental disclosures of cash flow information:
Barter revenue				5,018	4,152
Barter expense				4,223	4,012
Non-cash investing and financing activities:
Capital expenditures reimbursable under tenant improvement allowances				77	50
Net assets acquired and liabilities assumed in a non-cash acquisition					2,852
Deferred payments on acquisitions				326
Assets acquired under capital lease				56	16
Non-cash capital expenditures for property & equipment acquired under trade agreements				90
Debt issuance costs accrued					132
Revolver and ABL Facility [Member]
FINANCING ACTIVITIES
Proceeds from borrowings under Revolver and ABL Facility				111,337	60,133
Debt repayment				$ (110,137)	(53,980)
Term Loan B [Member]
FINANCING ACTIVITIES
Debt repayment					$ (263,000)

Basis of Presentation and Signi

Basis of Presentation and Significant Accounting Policies	9 Months Ended
	Sep. 30, 2018
Accounting Policies [Abstract]
Basis of Presentation and Significant Accounting Policies	NOTE 1. BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES The accompanying Condensed Consolidated Financial Statements of Salem Media Group, Inc. (“Salem” “we,” “us,” “our” or the “company”) include the company and its wholly owned subsidiaries. All significant intercompany balances and transactions have been eliminated. Information with respect to the three and nine months ended September 30, 2018 and 2017 is unaudited. The accompanying unaudited Condensed Consolidated Financial Statements have been prepared in accordance with U.S. Generally Accepted Accounting Principles (“GAAP”) for interim financial information and with the instructions to Form 10-Q S-X. 10-K The balance sheet at December 31, 2017 included in this report has been derived from the audited financial statements at that date, but does not include all of the information and footnotes required by GAAP. Description of Business Salem is a domestic multimedia company specializing in Christian and conservative content. Our media properties include radio broadcasting, digital media, and publishing entities. We have three operating segments: (1) Broadcast, (2) Digital Media, and (3) Publishing, which are discussed in Note 19 – Segment Data. Our foundational business is radio broadcasting, which includes the ownership and operation of radio stations in large metropolitan markets. We also own and operate Salem Radio Network TM TM TM TM TM Our digital media based businesses provide Christian, conservative, investing and health-themed content, e-commerce, ® TM TM TM TM ® TM TM TM TM TM TM non-individualized Our church e-commerce TM TM TM TM E-commerce TM Our web content is accessible through all of our radio station websites that feature content of interest to local audiences throughout the United States. Our publishing operating segment includes three businesses: (1) Regnery Publishing TM Singing News ® Variable Interest Entities We may enter into agreements or investments with other entities that could qualify as variable interest entities (“VIEs”) in accordance with Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 810 Consolidation. re-evaluate We may enter into lease arrangements with entities controlled by our principal stockholders or other related parties. We believe that the requirements of FASB ASC Topic 810 do not apply to these entities because the lease arrangements do not contain explicit guarantees of the residual value of the real estate, do not contain purchase options or similar provisions and the leases are at terms that do not vary materially from leases that would have been available with unaffiliated parties. Additionally, we do not have an equity interest in the entities controlled by our principal stockholders or other related parties and we do not guarantee debt of the entities controlled by our principal stockholders or other related parties. We also enter into Local Marketing Agreements (“LMAs”) or Time Brokerage Agreements (“TBAs”) contemporaneously with entering into an Asset Purchase Agreement (“APA”) to acquire or sell a radio station. Typically, both LMAs and TBAs are contractual agreements under which the station owner/licensee makes airtime available to a programmer/licensee in exchange for a fee and reimbursement of certain expenses. LMAs and TBAs are subject to compliance with the antitrust laws and the communications laws, including the requirement that the licensee must maintain independent control over the station and, in particular, its personnel, programming, and finances. The FCC has held that such agreements do not violate the communications laws as long as the licensee of the station receiving programming from another station maintains ultimate responsibility for, and control over, station operations and otherwise ensures compliance with the communications laws. The requirements of FASB ASC Topic 810 may apply to entities under LMAs or TBAs, depending on the facts and circumstances related to each transaction. As of September 30, 2018, we did not have implicit or explicit arrangements that required consolidation under the guidance in FASB ASC Topic 810. Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates. Significant areas for which management uses estimates include: • revenue recognition, • asset impairments, including goodwill, broadcasting licenses, other indefinite-lived intangible assets, and assets held for sale; • probabilities associated with the potential for contingent earn-out • fair value measurements; • contingency reserves; • allowance for doubtful accounts; • sales returns and allowances; • barter transactions; • inventory reserves; • reserves for royalty advances; • fair value of equity awards; • self-insurance reserves; • estimated lives for tangible and intangible assets; • income tax valuation allowances; and • uncertain tax positions. These estimates require the use of judgment as future events and the effect of these events cannot be predicted with certainty. The estimates will change as new events occur, as more experience is acquired and as more information is obtained. We evaluate and update our assumptions and estimates on an ongoing basis and we may consult outside experts to assist as considered necessary. Reclassifications Certain reclassifications have been made to the prior year financial statements to conform to the current year presentation. These include reclassifications of contract liabilities associated with the adoption of new revenue recognition guidance as of January 1, 2018. Significant Accounting Policies Except for our accounting policies for revenue recognition, deferred revenue, and deferred commissions that were updated as a result of adopting ASC Topic 606, there have been no changes to our significant accounting policies described in Note 1 to our Annual Report on Form 10-K Revenue Recognition We adopted Accounting Standards Codification (“ASC”) Topic 606, Revenue from Contracts with Customers ASC Topic 606 is a comprehensive revenue recognition model that requires revenue to be recognized when control of the promised goods or services are transferred to our customers at an amount that reflects the consideration that we expect to receive. Application of ASC Topic 606 requires us to use more judgment and make more estimates than under former guidance. Application of ASC Topic 606 requires a five-step model applicable to all revenue streams as follows: Identification of the contract, or contracts, with a customer A contract with a customer exists when (i) we enter into an enforceable contract with a customer that defines each party’s rights regarding the goods or services to be transferred and identifies the payment terms related to these goods or services, (ii) the contract has commercial substance and, (iii) we determine that collection of substantially all consideration for goods or services that are transferred is probable based on the customer’s intent and ability to pay the promised consideration. We apply judgment in determining the customer’s ability and intention to pay, which is based on a variety of factors including the customer’s historical payment experience or, in the case of a new customer, published credit and financial information pertaining to the customer. Identification of the performance obligations in the contract Performance obligations promised in a contract are identified based on the goods or services that will be transferred to the customer that are both capable of being distinct, whereby the customer can benefit from the goods or service either on its own or together with other resources that are readily available from third parties or from us, and are distinct in the context of the contract, whereby the transfer of the goods or services is separately identifiable from other promises in the contract. When a contract includes multiple promised goods or services, we apply judgment to determine whether the promised goods or services are capable of being distinct and are distinct within the context of the contract. If these criteria are not met, the promised goods or services are accounted for as a combined performance obligation. Determination of the transaction price The transaction price is determined based on the consideration to which we will be entitled to receive in exchange for transferring goods or services to our customer. We estimate any variable consideration included in the transaction price using the expected value method that requires the use of significant estimates for discounts, cancellation periods, refunds and returns. Variable consideration is described in detail below. Allocation of the transaction price to the performance obligations in the contract If the contract contains a single performance obligation, the entire transaction price is allocated to the single performance obligation. Contracts that contain multiple performance obligations require an allocation of the transaction price to each performance obligation based on a relative Stand-Alone Selling Price (“SSP,”) basis. We determine SSP based on the price at which the performance obligation would be sold separately. If the SSP is not observable, we estimate the SSP based on available information, including market conditions and any applicable internally approved pricing guidelines. Recognition of revenue when, or as, we satisfy a performance obligation We recognize revenue at the point in time that the related performance obligation is satisfied by transferring the promised goods or services to our customer. Principal versus Agent Considerations When another party is involved in providing goods or services to our customer, we apply the principal versus agent guidance in ASC Topic 606 to determine if we are the principal or an agent to the transaction. When we control the specified goods or services before they are transferred to our customer, we report revenue gross, as principal. If we do not control the goods or services before they are transferred to our customer, revenue is reported net of the fees paid to the other party, as agent. Our evaluation to determine if we control the goods or services within ASC Topic 606 includes the following indicators: We are primarily responsible for fulfilling the promise to provide the specified good or service. When we are primarily responsible for providing the goods and services, such as when the other party is acting on our behalf, we have indication that we are the principal to the transaction. We consider if we may terminate our relationship with the other party at any time without penalty or without permission from our customer. We have inventory risk before the specified good or service has been transferred to a customer or after transfer of control to the customer. We may commit to obtaining the services of another party with or without an existing contract with our customer. In these situations, we have risk of loss as principal for any amount due to the other party regardless of the amount(s) we earn as revenue from our customer. The entity has discretion in establishing the price for the specified good or service. We have discretion in establishing the price our customer pays for the specified goods or services. Trade Accounts Receivable and Contract Assets Trade accounts receivable, net of allowances: written-off Unbilled revenue end-of-flight, Contract Assets - Costs to Obtain a Contract: Contract Liabilities Contract liabilities consist of customer advance payments and billings in excess of revenue recognized. We may receive payments from our customers in advance of completing our performance obligations. Additionally, new customers, existing customers without approved credit terms and authors purchasing specific self-publishing services, are required to make payments in advance of the delivery of the products or performance of the services. We record contract liabilities equal to the amount of payments received in excess of revenue recognized, including payments that are refundable if the customer cancels the contract according to the contract terms. Contract liabilities were historically recorded under the caption “deferred revenue” and are reported as current liabilities on our condensed consolidated financial statements when the time to fulfill the performance obligations under terms of our contracts is less than one year. Long-term contract liabilities represent the amount of payments received in excess of revenue earned, including those that are refundable, when the time to fulfill the performance obligation is greater than one year. Our long-term liabilities consist of subscriptions with a term of two-years Significant changes in our contract liabilities balances during the period are as follows: Short Term Long-Term (Dollars in thousands) Balance, beginning of period January 1, 2018 $ 12,763 $ 1,951 Revenue recognized during the period that was included in the beginning balance of contract liabilities (6,864 ) — Additional amounts recognized during the period 16,448 574 Revenue recognized during the period that was recorded during the period (10,971 ) — Transfers 972 (972 ) Balance, end of period September 30, 2018 $ 12,348 $ 1,553 Amount refundable at beginning of period $ 12,450 $ 1,677 Amount refundable at end of period $ 12,221 $ 1,553 We expect to satisfy these performance obligations as follows: Amount For the Twelve Months Ended September 30, (Dollars in thousands) 2019 $ 12,348 2020 719 2021 354 2022 177 2023 101 Thereafter 202 $ 13,901 Significant Financing Component The length of our typical sales agreement is less than 12 months, however, we may sell subscriptions with a two-year Our self-publishing contracts may exceed a one year term due to the length of time for an author to submit and approve a manuscript for publication. The author may pay for publishing services in installments over the production time line with payments due in advance of performance. The timing of the transfer of goods and services under self-publishing arrangements are at the discretion of the author and based on future events that are not substantially within our control. We require advance payments to provide us with protection from incurring costs for products that are unique and only sellable to the author. Based on these considerations, we have concluded that our self-publishing contracts do not contain a significant financing component under ASC Topic 606. Variable Consideration Similar to former revenue recognition guidance, we continue to make significant estimates related to variable consideration at the point of sale, including estimates for refunds and product returns. Under ASC Topic 606, estimates of variable consideration are to be recognized before contingencies are resolved in certain circumstances, including when it is probable that a significant reversal in the amount of any estimated cumulative revenue will not occur. We enter into agreements under which the amount of revenue we earn is contingent upon the amount of money raised by our customer over the contract term. Our customer is typically a charity or programmer that purchases blocks of programming time or spots to generate revenue from our audience members. Contract terms can range from a few weeks to a few months, depending the charity or programmer. If the campaign does not generate a pre-determined Based on the constraints for using estimates of variable consideration within ASC Topic 606, and our historical experience with these campaigns, we will continue to recognize revenue at the base amount of the campaign with variable consideration recognized when the uncertainty of each campaign is resolved. These constraints include: (1) the amount of consideration received is highly susceptible to factors outside of our influence, specifically the extent to which our audience donates or contributes to our customer or programmer, (2) the length of time in which the uncertainty about the amount of consideration expected is to be resolved, and (3) our experience has shown these contracts have a large number and broad range of possible outcomes. Trade and Barter Transactions In broadcasting, trade or barter agreements are commonly used to reduce cash expenses by exchanging advertising time for goods or services. We may enter barter agreements to exchange air time or digital advertising for goods or services that can be used in our business or that can be sold to our audience under Listener Purchase Programs. The terms of these barter agreements permit us to preempt the barter air time or digital campaign in favor of customers who purchase the air time or digital campaign for cash. The value of these non-cash Trade and barter revenues and expenses were as follows: Three Months Ended Nine Months Ended 2017 2018 2017 2018 (Dollars in thousands) Net broadcast barter revenue $ 1,580 $ 1,384 $ 4,105 $ 4,915 Net digital media barter revenue — — — 93 Net publishing barter revenue 7 3 47 10 Net broadcast barter expense $ 1,663 $ 1,458 $ 3,928 $ 4,211 Net digital media barter expense — 3 — 3 Net publishing barter expense 1 7 84 9 Practical Expedients and Exemptions We have elected certain practical expedients and policy elections as permitted under ASC Topic 606 as follows: • We applied the transitional guidance to contracts that were not complete at the date of our initial application of ASC Topic 606 on January 1, 2018. • We adopted the practical expedient related to not adjusting the promised amount of consideration for the effects of a significant financing component if the period between transfer of product and customer payment is expected to be less than one year at the time of contract inception; • We made the accounting policy election to not assess promised goods or services as performance obligations if they are immaterial in the context of the contract with the customer; • We made the accounting policy election to exclude sales and similar taxes from the transaction price; • We made the accounting policy election to treat shipping and handling costs that occur after control transfers as fulfillment activities instead of assessing such activities as separate performance obligations; and • We adopted the practical expedient not to disclose the value of unsatisfied performance obligations for contracts with an original expected length of one year or less. The following table presents our revenues disaggregated by revenue source for each of our three operating segments: Nine Months Ended September 30, 2018 Broadcast Digital Media Publishing Consolidated (dollars in thousands) By Source of Revenue: Block Programming - National $ 37,318 $ — $ — $ 37,318 Block Programming - Local 24,643 — — 24,643 Spot Advertising - National 12,126 — — 12,126 Spot Advertising - Local 41,224 — — 41,224 Infomercials 1,464 — — 1,464 Network 14,501 — — 14,501 Digital Advertising 4,764 16,159 346 21,269 Digital Streaming 584 3,316 — 3,900 Digital Downloads and eBooks — 3,722 1,155 4,877 Subscriptions 789 6,052 699 7,540 Book Sales and e-commerce 360 1,533 9,673 11,566 Self-Publishing fees — — 4,231 4,231 Advertising - Print 36 — 454 490 Other Revenues 9,616 269 561 10,446 $ 147,425 $ 31,051 $ 17,119 $ 195,595 Timing of Revenue Recognition Point in Time $ 145,892 $ 30,969 $ 17,073 $ 193,934 Rental Income(1) 1,533 82 46 1,661 $ 147,425 $ 31,051 $ 17,119 $ 195,595 (1) Rental income is not applicable to ASC Topic 606, but shown for the purpose of identifying each revenue source presented in total revenue on our Condensed Consolidated Financial Statements within this report on Form 10-Q. A summary of each of our revenue streams under ASC Topic 606 is as follows: Block Programming . 1 2 50-minutes Spot Advertising Network Revenue . Digital Advertising. Broadcast digital advertising revenue consists of local digital advertising, such as the sale of banner advertisements on our owned and operated websites, the sale of advertisements on our own and operated mobile applications, and advertisements in digital newsletters that we produce, as well an national digital advertising, or the sale of custom digital advertising solutions, such as web pages and social media campaigns, that we offer to our customers. Advertising revenue is recorded on a gross basis unless an agency represents the advertiser, in which case, revenue is reported net of the commission retained by the agency. In January of this year we hired a VP of Local Digital to expand our role as a digital advertising agency to provide a full range of digital products to our customers. In our role as a digital agency, our sales team provides our customers with integrated digital advertising solutions that optimize the performance of their campaign, which we view as one performance obligation. Our advertising campaigns are designed to be “white label” agreements between Salem and our advertiser, meaning we provide special care and attention to the details of the campaign. We provide custom digital product offerings, including tools for metasearch, retargeting, website design, reputation management, online listing services, and social media marketing. Digital advertising solutions may include third-party websites, such as Google or Facebook, which can be included in a digital advertising social media campaign. We manage all aspects of the digital campaign, including social media placements, review and approval of target audiences, and the monitoring of actual results to make modifications as needed. We may contract directly with a third-party, however, we are responsible for delivering the campaign results to our customer with or without the third-party. We are responsible for any payments due to the third-party regardless of the campaign results and without regard to the status of payment from our customer. We have discretion in setting the price to our customer without input or approval from the third-party. Accordingly, revenue is reported gross, as principal, as the performance obligation is delivered, which represents the point in time that control is transferred to the customer thereby completing our performance obligation. Digital Streaming Digital Downloads and e-books e-books. Subscriptions on-air pro-rata Book Sales e-Commerce E-Commerce re-saleable Self-Publishing Fees Revenue is recognized upon completion of each performance obligation, which represents the point in time that control of the product is transferred to the author, thereby completing our performance obligation. Revenue is recorded at the net amount due from the author, including discounts based on the service package. Advertising - Print Other Revenues . on-air Recent Accounting Pronouncements Changes to accounting principles are established by the FASB in the form of ASUs to the FASB’s Codification. We consider the applicability and impact of all ASUs on our financial position, results of operations, cash flows, or presentation thereof. Described below are ASUs that are not yet effective, but may be applicable to our financial position, results of operations, cash flows, or presentation thereof. ASUs not listed below were assessed and determined to not be applicable to our financial position, results of operations, cash flows, or presentation thereof. In August 2018, the FASB issued ASU 2018-15, Intangibles-Goodwill and Other-Internal-Use 350-40): 2018-15 internal-use In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework-Changes to the Disclosure Requirements for Fair Value Measurement. 2018-13 In July 2018, the FASB issued ASU No. 2018-11, Leases (Topic 842): Targeted Improvements 2018-11 2016-02. 2016-02 2016-02. 2016-02 In July 2018, the FASB issued ASU 2018-10, Codification Improvements to Topic 842, Leases 2018-10 2016-02. 2018-10 2018-10 sale-and-leaseback sale-and-leaseback 2016-02. 2016-02 In July 2018, the FASB issued ASU 2018-09, Codification Improvements 2018-09 In June 2018, the FASB issued ASU 2018-07, Compensation—Stock Compensation (Topic 718): Improvements to Nonemployee Share-Based Payment 2018-07 non-employees In February 2018, the FASB issued ASU 2018-02, Income Statement - Reporting Comprehensive Income (Topic 220) – Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income 2018-02 In January 2018, the FASB issued ASU 2018-01, Leases (Topic 842) Land Easement Practical Expedient for Transition to Topic 842. 2018-01 2018-01 2016-02 2016-02. 2016-02 In August 2017, the FASB issued ASU 2017-12, Derivatives and Hedging: Targeted Improvements to Accounting for Hedging Activities In March 2017, the FASB issued ASU 2017-08, Receivables – Nonrefundable Fees and Other Costs (Subtopic 310-20), 2017-08 In October 2016, the FASB issued ASU 2016-16 Intra-Entity Transfers of Assets Other Than Inventory In June 2016, the FASB issued ASU 2016-13, Financial Instruments-Credit Losses, held-to-maturity available-for-sale In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) right-of-use 2016-02 right-to-use

Impairment of Goodwill and Othe

Impairment of Goodwill and Other Indefinite-Lived Intangible Assets	9 Months Ended
	Sep. 30, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
Impairment of Goodwill and Other Indefinite-Lived Intangible Assets	NOTE 2. IMPAIRMENT OF GOODWILL AND OTHER INDEFINITE-LIVED INTANGIBLE ASSETS Approximately 71% of our total assets as of September 30, 2018 consist of indefinite-lived intangible assets, such as broadcast licenses, goodwill and mastheads, the value of which depends significantly upon the operating results of our businesses. In the case of our radio stations, we would not be able to operate the properties without the related FCC license for each station. Broadcast licenses are renewed with the FCC every eight years for a nominal cost that is expensed as incurred. We continually monitor our stations’ compliance with the various regulatory requirements. Historically, all of our broadcast licenses have been renewed at the end of their respective periods, and we expect that all broadcast licenses will continue to be renewed in the future. Accordingly, we consider our broadcast licenses to be indefinite-lived intangible assets in accordance with FASB ASC Topic 350, Intangibles – Goodwill and Other We complete our annual impairment tests in the fourth quarter of each year. We believe that our estimate of the value of our broadcast licenses, mastheads, and goodwill is a critical accounting estimate as the value is significant in relation to our total assets, and our estimates incorporate variables and assumptions that are based on past experiences and judgment about future operating performance of our markets and business segments. If actual operating results are less favorable than the assumptions and estimates we used, or if we reduce our estimates of future operating results, we are subject to future impairment charges, the amount of which may be material. The fair value measurements for our indefinite-lived intangible assets use significant unobservable inputs that reflect our own assumptions about the estimates that market participants would use in measuring fair value including assumptions about risk. The unobservable inputs are defined in FASB ASC Topic 820, Fair Value Measurements and Disclosures, During the second quarter of 2018, we entered into an agreement to sell radio station KGBI-FM two-step The estimated fair value of the Omaha market cluster was determined using the Greenfield Method, a form of the income approach. The premise of the Greenfield Method is that the value of an FCC license is equivalent to a hypothetical start-up start-up The primary assumptions used in the Greenfield Method are: (1) gross operating revenue in the station’s designated market area, (2) normalized market share, (3) normalized profit margin, (4) duration of the “ramp-up” (5) estimated start-up (6) ongoing replacement costs of fixed assets and working capital, The assumptions used reflect those of a hypothetical market participant and not necessarily the actual or projected results of Salem. The key estimates and assumptions used in the start-up Long-term market revenue growth rate 1.9% Operating profit margin ranges (13.9)% -30.8% Risk-adjusted discount rate 9.0% There were no other indications of impairment during the period ended September 30, 2018. During the period ended June 30, 2017, we recorded an impairment charge of $19,000 associated with mastheads based on our decision to cease publishing Preaching Magazine ™ ™ ™ ®

Impairment of Long-Lived Assets

Impairment of Long-Lived Assets	9 Months Ended
	Sep. 30, 2018
Text Block [Abstract]
Impairment of Long-Lived Assets	NOTE 3. IMPAIRMENT OF LONG-LIVED ASSETS We account for long-lived assets in accordance with FASB ASC Topic 360-10, Property, Plant and Equipment There were no indications of impairment during the period ended September 30, 2018. We reviewed long-lived assets associated with Preaching Magazine, YouthWorker Journal, FaithTalk Magazine and Homecoming The Magazine as of March 31, 2017, due to our decision to cease publishing these magazines as of the May 2017 issue. We recorded a $1.9 million decrease in the cost and a $1.9 million decrease in the accumulated amortization for fully amortized assets, including subscriber lists and domain names associated with these magazines. There was no impairment loss or adjustment required to the previously estimated useful lives of these assets.

Acquistions and Recent Transact

Acquistions and Recent Transactions	9 Months Ended
	Sep. 30, 2018
Text Block [Abstract]
Acquistions and Recent Transactions	NOTE 4. ACQUISITIONS AND RECENT TRANSACTIONS During the nine month period ended September 30, 2018, we completed or entered into the following transactions: Debt On May 4, 2018, we repurchased $4.0 million of the 6.75% Senior Secured Notes for $3.8 million, or 94.25% of the face value. This transaction resulted in a net pre-tax On April 10, 2018, we repurchased $4.0 million of the 6.75% Senior Secured Notes for $3.9 million, or 96.25% of the face value. This transaction resulted in a net pre-tax On April 9, 2018, we repurchased $2.0 million of the 6.75% Senior Secured Notes for $1.9 million, or 96.5% of the face value. This transaction resulted in a net pre-tax Equity On September 5, 2018, we announced a quarterly equity distribution in the amount of $0.0650 per share on Class A and Class B common stock. The equity distribution of $1.7 million was paid on September 28, 2018 to all Class A and Class B common stockholders of record as of September 17, 2018. On May 31, 2018, we announced a quarterly equity distribution in the amount of $0.0650 per share on Class A and Class B common stock. The equity distribution of $1.7 million was paid on June 29, 2018 to all Class A and Class B common stockholders of record as of June 15, 2018. On February 28, 2018, we announced a quarterly equity distribution in the amount of $0.0650 per share on Class A and Class B common stock. The equity distribution of $1.7 million was paid on March 28, 2018 to all Class A and Class B common stockholders of record as of March 14, 2018. Acquisitions On September 11, 2018, we acquired selected assets of radio station KTRB-AM On August 9, 2018, we acquired the Hilary Kramer Financial Newsletter and related assets valued at $2.0 million and we assumed deferred subscription liabilities valued at $1.5 million. We paid $0.4 million in cash upon closing and as part of the purchase agreement, may pay up to an additional $0.1 million of contingent earn-out earn-out earn-out On August 7, 2018, we acquired the Just1Word mobile applications and related assets for $0.3 million in cash upon closing. As part of the purchase agreement, we may pay up to an additional $0.1 million of contingent earn-out earn-out earn-out On July 25, 2018, we acquired selected assets of radio station KZTS-AM KDXE-AM) On July 24, 2018, we acquired the Childrens-Ministry-Deals.com website and related assets for $3.7 million in cash. Childrens-Ministry-Deals.com offers biblically-based curriculums for children ages 3 through age 18. We paid $3.5 million in cash upon closing and may pay an additional $0.2 million in cash within twelve months from the closing date provided that the seller meet certain post-closing requirements with regard to intellectual property. We recorded goodwill of $0.7 million attributable to the expected synergies to be realized when combining the operations of this entity into our existing operations. On June 25, 2018, we closed on the acquisition of radio station KDXE-FM KZTS-FM) On April 19, 2018, we acquired the HearItFirst.com domain name and related social media assets for $70,000 in cash. A summary of our business acquisitions and asset purchases during the nine month period ended September 30, 2018, none of which were individually or in the aggregate material to our Condensed Consolidated financial position as of the respective date of acquisition, is as follows: Acquisition Date Description Total Cost (Dollars in thousands) September 11, 2018 KTRB-AM, $ 5,349 August 9, 2018 Hilary Kramer Financial Newsletter (business acquisition) 439 August 7, 2018 Just1Word (business acquisition) 312 July 25, 2018 KZTS-AM KDXE-AM), 210 July 24, 2018 Childrens-Ministry-Deals.com (business acquisition) 3,700 June 25, 2018 KDXE-FM KZTS-FM), 1,100 April 19, 2018 HearItFirst.com (asset purchase) 70 $ 11,180 Under the acquisition method of accounting as specified in FASB ASC Topic 805, Business Combinations 2017-01 Business Combinations (Topic 805) Clarifying the Definition of a Business Estimates of the fair value include discounted estimated cash flows to be generated by the assets and their expected useful lives based on historical experience, market trends and any synergies believed to be achieved from the acquisition. Acquisitions may include contingent consideration, the fair value of which is estimated as of the acquisition date as the present value of the expected contingent payments as determined using weighted probabilities of the payment amounts. We may retain a third-party appraiser to estimate the fair value of the acquired net assets as of the acquisition date. As part of the valuation and appraisal process, the third-party appraiser prepares a report assigning estimated fair values to the various assets acquired. These fair value estimates are subjective in nature and require careful consideration and judgment. Management reviews the third-party reports for reasonableness of the assigned values. We believe that these valuations and analysis provide appropriate estimates of the fair value for the net assets acquired as of the acquisition date. The initial valuations for business acquisitions are subject to refinement during the measurement period, which may be up to one year from the acquisition date. During this measurement period, we may retroactively record adjustments to the net assets acquired based on additional information obtained for items that existed as of the acquisition date. Upon the conclusion of the measurement period, any adjustments are reflected in our Condensed Consolidated Statements of Operations. To date, we have not recorded adjustments to the estimated fair values used in our business acquisition consideration during or after the measurement period. Property and equipment are recorded at the estimated fair value and depreciated on a straight-line basis over their estimated useful lives. Finite-lived intangible assets are recorded at their estimated fair value and amortized on a straight-line basis over their estimated useful lives. Goodwill, which represents the organizational systems and procedures in place to ensure the effective operation of the entity, may also be recorded and tested for impairment. Costs associated with business acquisitions, such as consulting and legal fees, are expensed as incurred. We recognized costs associated with acquisitions of $0.2 million during the nine month period ended September 30, 2018 compared to $0.1 million during the same period of the prior year, which are included in unallocated corporate expenses in the accompanying Condensed Consolidated Statements of Operations. The total acquisition consideration is equal to the sum of all cash payments, the fair value of any deferred payments and promissory notes, and the present value of any estimated contingent earn-out earn-out The following table summarizes the total acquisition consideration for the nine month period ended September 30, 2018: Description Total Consideration (Dollars in thousands) Cash payments made upon closing $ 10,854 Deferred payments 150 Present value of estimated fair value of contingent earn-out 51 Closing costs accrued for asset acquisitions 125 Total purchase price consideration $ 11,180 The fair value of the net assets acquired was allocated as follows: Net Broadcast Net Digital Net Total (Dollars in thousands) Assets Property and equipment $ 371 $ 715 $ 1,086 Broadcast licenses 6,281 — 6,281 Goodwill 7 986 993 Customer lists and contracts — 1,882 1,882 Domain and brand names — 1,252 1,252 Subscriber base and lists — 875 875 Non-compete — 19 19 Other amortizable intangible assets — 334 334 $ 6,659 $ 6,063 $ 12,722 Liabilities Contract liabilities, long-term $ — $ (1,542 ) $ (1,542 ) $ 6,659 4,521 11,180 Divestitures On August 28, 2018, we closed on the sale of radio station WQVN-AM WKAT-AM) pre-tax On August 6, 2018, we closed on the sale of radio station KGBI-FM pre-tax On June 20, 2018, we closed on the sale of radio station WBIX-AM pre-tax On May 24, 2018, we closed on the sale of land in Covina, California for $0.8 million dollars. The original APA was for $1.0 million and was to close in the latter half of 2020. We accepted the revised purchase price of $0.8 million and recorded a $0.2 million pre-tax We programmed radio station KHTE-FM, On December 29, 2017, we entered into two LMAs to program radio stations KPAM-AM KKOV-AM 12-months. Pending Transactions On July 23, 2018, we entered into an APA to sell radio stations KCRO-AM KOTK-AM On April 26, 2018, we entered an agreement to exchange radio station KKOL-AM, KPAM-AM KPAM-AM KPAM-AM Assets Held for Sale We record assets as held for sale in the period in which all of the following criteria are met: • Management, having the authority to approve the action, commits to a plan to sell the asset or entity; • the asset or entity is available for immediate sale in its present condition; • an active program to locate a buyer and other actions required to complete the plan to sell have been initiated; • the sale is probable and transfer is expected to be completed within one year or as subject to approval of the FCC; • the asset or entity is being actively marketed for sale at a price that is reasonable in relation to its current fair value; and • actions required to complete the plan indicate that it is unlikely that significant changes to the plan will be made or that the plan will be withdrawn. When the held for sale criteria is met, but the disposal does not meet the criteria to be treated as discontinued operations, the assets or disposal group are reclassified from the corresponding balance sheet line items to Assets held for sale. Assets held for sale are carried at the lower of the carrying amount or fair value less cost to sell. We determined the fair value of these assets utilizing offers from third parties, which is a Level 3 measurement as discussed in Note 16. At September 30, 2018, assets held for sale consist of radio stations KCRO-AM KOTK-AM

Contingent Earn-Out Considerati

Contingent Earn-Out Consideration	9 Months Ended
	Sep. 30, 2018
Text Block [Abstract]
Contingent Earn-Out Consideration	NOTE 5. CONTINGENT EARN-OUT Our acquisitions may include contingent earn-out earn-out earn-out Fair Value Measurements and Disclosures, We review the probabilities of possible future payments to the estimated fair value of any contingent earn-out earn-out earn-out earn-out earn-out Hilary Kramer Financial Newsletters We acquired the Hilary Kramer Financial Newsletters and related assets on August 9, 2018. We paid $0.4 million in cash upon closing and as part of the purchase agreement, may pay up to an additional $0.1 million in contingent earn-out earn-out earn-out We review the fair value of the contingent earn-out earn-out earn-out earn-out Just1Word Mobile Application We acquired the Just1Word mobile application and related assets on August 7, 2018. We paid $0.3 million in cash upon closing and as part of the purchase agreement, may pay up to an additional $0.1 million in contingent earn-out earn-out earn-out We review the fair value of the contingent earn-out earn-out earn-out earn-out TradersCrux.com We acquired the TradersCrux.com website and related assets for $0.3 million in cash on July 6, 2017. We may have paid up to an additional $0.1 million in contingent earn-out earn-out earn-out We reviewed the fair value of the contingent earn-out earn-out earn-out earn-out earn-out Portuguese Bible Mobile Application We acquired a Portuguese Bible mobile application and related assets on June 8, 2017. We paid $65,000 in cash upon closing and may have paid up to an additional $20,000 in contingent earn-out earn-out earn-out We reviewed the fair value of the contingent earn-out earn-out earn-out earn-out earn-out Turner Investment Products We acquired Mike Turner’s line of investment products, including TurnerTrends.com and other domain names and related assets on September 13, 2016. We paid $0.4 million in cash upon closing and may have paid up to an additional $0.1 million in contingent earn-out earn-out earn-out earn-out earn-out earn-out earn-out earn-out earn-out Daily Bible Devotion We acquired Daily Bible Devotion mobile applications on May 6, 2015. We paid $1.1 million in cash upon closing and may have paid up to an additional $0.3 million in contingent earn-out earn-out two-year earn-out earn-out earn-out earn-out two-year earn-out Bryan Perry Newsletters On February 6, 2015, we acquired the assets and assumed the deferred subscription liabilities for Bryan Perry Newsletters, paying no cash to the seller upon closing. Future contingent earn-out two-year earn-out two-year earn-out earn-out earn-out

Inventories

Inventories	9 Months Ended
	Sep. 30, 2018
Inventory Disclosure [Abstract]
Inventories	NOTE 6. INVENTORIES Inventories consist of finished goods including books from Regnery Publishing and wellness products. All inventories are valued at the lower of cost or net realizable value as determined on a First-In First-Out The following table provides details of inventory on hand by segment: December 31, 2017 September 30, 2018 (Dollars in thousands) Regnery Publishing book inventories $ 2,038 $ 1,341 Reserve for obsolescence – Regnery Publishing (1,621 ) (786 ) Inventory, net - Regnery Publishing 417 555 Wellness products $ 349 $ 346 Reserve for obsolescence – Wellness products (36 ) (10 ) Inventory, net - Wellness products 313 336 Consolidated inventories, net $ 730 $ 891

Broadcast Licenses

Broadcast Licenses	9 Months Ended
	Sep. 30, 2018
Text Block [Abstract]
Broadcast Licenses	NOTE 7. BROADCAST LICENSES The following table presents the changes in broadcasting licenses that include acquisitions and divestitures of radio stations and FM translators as discussed in Note 4 of our Condensed Consolidated Financial Statements. Twelve Months Ended Nine Months Ended September 30, 2018 (Dollars in thousands) Balance, beginning of period before cumulative loss on impairment $ 494,058 $ 486,455 Accumulated loss on impairment (105,541 ) (105,541 ) Balance, beginning of period after cumulative loss on impairment 388,517 380,914 Acquisitions of radio stations 191 6,270 Acquisitions of FM translators and construction permits 198 11 Capital projects to improve broadcast signal and strength 5 — Dispositions of radio stations (7,997 ) (8,013 ) Balance, end of period before cumulative loss on impairment 486,455 484,723 Accumulated loss on impairment (105,541 ) (105,541 ) Balance, end of period after cumulative loss on impairment $ 380,914 $ 379,182

Goodwill

Goodwill	9 Months Ended
	Sep. 30, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill	NOTE 8. GOODWILL The following table presents the changes in goodwill including acquisitions and divestitures as discussed in Note 4 of our Condensed Consolidated Financial Statements. Goodwill Twelve Months Ended Nine Months Ended (Dollars in thousands) Balance, beginning of period before cumulative loss on impairment $ 27,642 $ 28,453 Accumulated loss on impairment (2,029 ) (2,029 ) Balance, beginning of period after cumulative loss on impairment 25,613 26,424 Acquisitions of radio stations 14 7 Acquisitions of digital media entities 810 986 Dispositions of radio stations — (628 ) Sale of income generating broadcast business (13 ) — Balance, end of period before cumulative loss on impairment 28,453 28,818 Accumulated loss on impairment (2,029 ) (2,029 ) Ending period balance $ 26,424 $ 26,789

Property and Equipment

Property and Equipment	9 Months Ended
	Sep. 30, 2018
Property, Plant and Equipment [Abstract]
Property and Equipment	NOTE 9. PROPERTY AND EQUIPMENT The following is a summary of the categories of our property and equipment: December 31, 2017 September 30, 2018 (Dollars in thousands) Land $ 32,320 $ 31,686 Buildings 28,962 28,942 Office furnishings and equipment 37,583 36,079 Office furnishings and equipment under capital lease obligations 244 207 Antennae, towers and transmitting equipment 85,632 85,330 Antennae, towers and transmitting equipment under capital lease obligations 795 — Studio, production and mobile equipment 29,697 28,959 Computer software and website development costs 24,477 26,308 Record and tape libraries 27 21 Automobiles 1,385 1,572 Leasehold improvements 19,003 19,383 Construction-in-progress 4,075 6,159 $ 264,200 $ 264,646 Less accumulated depreciation (164,720 ) (167,934 ) $ 99,480 $ 96,712 Depreciation expense was approximately $3.0 million and $3.1 million for each of the three month periods ended September 30, 2018 and 2017, respectively, and $9.1 million and $9.2 million for the nine month periods ended September 30, 2018 and 2017, respectively. Included in this amount is $5,000 and $48,000 for the three and nine months ended September 30, 2018 and $24,000 and $70,000 for the three and nine month periods ended September 30, 2017, on assets acquired under capital lease obligations. Accumulated depreciation associated with assets acquired under capital lease obligations was $0.2 million and $0.8 million at September 30, 2018 and December 31, 2017, respectively.

Amortizable Intangible Assets

Amortizable Intangible Assets	9 Months Ended
	Sep. 30, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
Amortizable Intangible Assets	NOTE 10. AMORTIZABLE INTANGIBLE ASSETS The following tables provide a summary of our significant classes of amortizable intangible assets: September 30, 2018 Accumulated Cost Amortization Net (Dollars in thousands) Customer lists and contracts $ 24,673 $ (21,498 ) $ 3,175 Domain and brand names 21,358 (16,218 ) 5,140 Favorable and assigned leases 2,256 (1,944 ) 312 Subscriber base and lists 9,672 (6,548 ) 3,124 Author relationships 2,771 (2,416 ) 355 Non-compete 2,048 (1,571 ) 477 Other amortizable intangible assets 1,666 (1,350 ) 316 $ 64,444 $ (51,545 ) $ 12,899 December 31, 2017 Cost Accumulated Net (Dollars in thousands) Customer lists and contracts $ 22,865 $ (20,888 ) $ 1,977 Domain and brand names 20,109 (14,650 ) 5,459 Favorable and assigned leases 2,379 (2,028 ) 351 Subscriber base and lists 8,797 (4,701 ) 4,096 Author relationships 2,771 (2,237 ) 534 Non-compete 2,029 (1,342 ) 687 Other amortizable intangible assets 1,333 (1,333 ) — $ 60,283 $ (47,179 ) $ 13,104 Amortization expense was approximately $1.6 million and $1.1 million for each of the three month periods ended September 30, 2018 and 2017, respectively, and $4.6 million and $3.4 million for each of the nine month periods ended September 30, 2018 and 2017, respectively. Based on the amortizable intangible assets as of September 30, 2018, we estimate amortization expense for the next five years to be as follows: Amortization Expense (Dollars in thousands) 2018 (Oct – Dec) $ 1,635 2019 4,699 2020 3,275 2021 1,654 2022 969 Thereafter 667 Total $ 12,899

Long-Term Debt

Long-Term Debt	9 Months Ended
	Sep. 30, 2018
Debt Disclosure [Abstract]
Long-Term Debt	NOTE 11. LONG-TERM DEBT Salem Media Group, Inc. has no independent assets or operations, the subsidiary guarantees relating to certain debt are full and unconditional and joint and several, and any subsidiaries of Salem Media Group, Inc. other than the subsidiary guarantors are minor. 6.75% Senior Secured Notes On May 19, 2017, we issued in a private placement the Notes, which were guaranteed on a senior secured basis by our existing subsidiaries (the “Subsidiary Guarantors”). The Notes bear interest at a rate of 6.75% per year and mature on June 1, 2024, unless earlier redeemed or repurchased. Interest initially accrues on the Notes from May 19, 2017 and is payable semi-annually, in cash in arrears, on June 1 and December 1 of each year, commencing December 1, 2017. The Notes and the ABL Facility are secured by liens on substantially all of our and the Subsidiary Guarantors’ assets, other than certain excluded assets. The ABL Facility has a first-priority lien on our and the Subsidiary Guarantor’s accounts receivable, inventory, deposit and securities accounts, certain real estate and related assets (the “ABL Priority Collateral”). The Notes are secured by a first-priority lien on substantially all other assets of ours and the Subsidiary Guarantors (the “Notes Priority Collateral”). There is no direct lien on our Federal Communications Commission (“FCC”) licenses to the extent prohibited by law or regulation. We may redeem the Notes, in whole or in part, at any time on or after June 1, 2020 at a price equal to 100% of the principal amount of the Notes plus a “make-whole” premium as of, and accrued and unpaid interest, if any, to, but not including, the redemption date. At any time on or after June 1, 2020, we may redeem some or all of the Notes at the redemption prices (expressed as percentages of the principal amount to be redeemed) set forth in the Notes, plus accrued and unpaid interest, if any, to, but not including, the redemption date. In addition, we may redeem up to 35% of the aggregate principal amount of the Notes before June 1, 2020 with the net cash proceeds from certain equity offerings at a redemption price of 106.75% of the principal amount plus accrued and unpaid interest, if any, to, but not including, the redemption date. We may also redeem up to 10% of the aggregate original principal amount of the Notes per twelve month period before June 1, 2020 at a redemption price of 103% of the principal amount plus accrued and unpaid interest to, but not including, the redemption date. The indenture relating to the Notes (the “Indenture”) contains covenants that, among other things and subject in each case to certain specified exceptions, limit our ability and the ability of our restricted subsidiaries to: (i) incur additional debt unless our leverage ratio is less than the incurrence covenant; (ii) declare or pay dividends, redeem stock or make other distributions to stockholders; (iii) make investments; (iv) create liens or use assets as security in other transactions; (v) merge or consolidate, or sell, transfer, lease or dispose of substantially all of our assets; (vi) engage in transactions with affiliates; and (vii) sell or transfer assets. The amount of dividends or equity distributions made is not to exceed $2.0 million in any fiscal quarter or $20.0 million in the aggregate, so long as, after giving pro forma effect thereto, the Consolidated Total Debt Ratio would be less than or equal to 6.00 to 1.00. The Indenture provides for the following events of default (each, an “Event of Default”): (i) default in payment of principal or premium on the Notes at maturity, upon repurchase, acceleration, optional redemption or otherwise; (ii) default for 30 days in payment of interest on the Notes; (iii) the failure by us or certain restricted subsidiaries to comply with other agreements in the Indenture or the Notes, in certain cases subject to notice and lapse of time; (iv) the failure of any guarantee by certain significant Subsidiary Guarantors to be in full force and effect and enforceable in accordance with its terms, subject to notice and lapse of time; (v) certain accelerations (including failure to pay within any grace period) of other indebtedness of ours or any restricted subsidiary if the amount accelerated (or so unpaid) is at least $15 million; (vi) certain judgments for the payment of money in excess of $15 million; (vii) certain events of bankruptcy or insolvency with respect to us or any significant subsidiary; and (vii) certain defaults with respect to any collateral having a fair market value in excess of $15 million. If an Event of Default occurs and is continuing, the Trustee or the holders of at least 25% in principal amount of the outstanding Notes may declare the principal of the Notes and any accrued interest on the Notes to be due and payable immediately, subject to remedy or cure in certain cases. Certain events of bankruptcy or insolvency are Events of Default which will result in the Notes being due and payable immediately upon the occurrence of such Events of Default. On May 4, 2018, we repurchased $4.0 million of the 6.75% Senior Secured Notes for $3.8 million, or 94.25% of the face value. This transaction resulted in a net pre-tax On April 10, 2018, we repurchased $4.0 million of the 6.75% Senior Secured Notes for $3.9 million, or 96.25% of the face value. This transaction resulted in a net pre-tax On April 9, 2018, we repurchased $2.0 million of the 6.75% Senior Secured Notes for $1.9 million, or 96.5% of the face value. This transaction resulted in a net pre-tax Based on the amount of bonds outstanding at September 30, 2018, we are required to pay $16.5 million per year in interest on the Notes. As of September 30, 2018, accrued interest on the Notes was $5.5 million. We incurred debt issuance costs of $6.3 million that were recorded as a reduction of the debt proceeds that are being amortized to non-cash Asset-Based Revolving Credit Facility On May 19, 2017, the Company also entered into the ABL Facility pursuant to a Credit Agreement (the “Credit Agreement”) by and among us, as a borrower, our subsidiaries party thereto, as borrowers, Wells Fargo Bank, National Association, as administrative agent and lead arranger, and the lenders that are parties thereto. We used the proceeds of the ABL Facility, together with the net proceeds from the Notes offering, to repay outstanding borrowings under our previously existing senior credit facilities, and related fees and expenses. Going forward, the proceeds of the ABL Facility will be used to provide ongoing working capital and for other general corporate purposes (including permitted acquisitions). The ABL Facility is a five-year $30.0 million revolving credit facility due May 19, 2022, which includes a $5.0 million subfacility for standby letters of credit and a $7.5 million subfacility for swingline loans. All borrowings under the ABL Facility accrue at a rate equal to a base rate or LIBOR rate plus a spread. The spread, which is based on an availability-based measure, ranges from 0.50% to 1.00% for base rate borrowings and 1.50% to 2.00% for LIBOR rate borrowings. If an event of default occurs, the interest rate may increase by 2.00% per annum. Amounts outstanding under the ABL Facility may be paid and then reborrowed at our discretion without penalty or premium. Additionally, we pay a commitment fee on the unused balance of 0.25% to 0.375% per year. The ABL Facility is secured by a first-priority lien on the ABL Priority Collateral and by a second-priority lien on the Notes Priority Collateral. There is no direct lien on the Company’s FCC licenses to the extent prohibited by law or regulation (other than the economic value and proceeds thereof). The Credit Agreement includes a springing fixed charge coverage ratio of 1.0 to 1.0, which is tested during the period commencing on the last day of the fiscal month most recently ended prior to the date on which Availability (as defined in the Credit Agreement) is less than the greater of 15% of the Maximum Revolver Amount (as defined in the Credit Agreement) and $4.5 million and continuing for a period of 60 consecutive days after the first day on which Availability exceeds such threshold amount. The Credit Agreement also includes other negative covenants that are customary for credit facilities of this type, including covenants that, subject to exceptions described in the Credit Agreement, restrict the ability of the borrowers and their subsidiaries (i) to incur additional indebtedness; (ii) to make investments; (iii) to make distributions, loans or transfers of assets; (iv) to enter into, create, incur, assume or suffer to exist any liens, (v) to sell assets; (vi) to enter into transactions with affiliates; (vii) to merge or consolidate with, or dispose of all assets to a third-party, except as permitted thereby; (viii) to prepay indebtedness; and (ix) to pay dividends. The amount of dividends or equity distributions made is not to exceed $2.0 million in any fiscal quarter or $20.0 million in the aggregate, so long as, after giving pro forma effect thereto, the Consolidated Total Debt Ratio would be less than or equal to 6.00 to 1.00. The Credit Agreement provides for the following events of default: (i) default for non-payment We incurred debt issue costs of $0.7 million that were recorded as an asset and are being amortized to non-cash We report outstanding balances on the ABL Facility as short-term regardless of the maturity date based on use of the ABL Facility to fund ordinary and customary operating cash needs with frequent repayments. We believe that our borrowing capacity under the ABL Facility allows us to meet our ongoing operating requirements, fund capital expenditures and satisfy our debt service requirements for at least the next twelve months. Prior Term Loan B and Revolving Credit Facility Our prior credit facility consisted of a term loan of $300.0 million (“Term Loan B”) and a revolving credit facility of $25.0 million (“Revolver”). The Term Loan B was issued at a discount for total net proceeds of $298.5 million. The discount was amortized to non-cash The Term Loan B had a term of seven years, maturing in March 2020. On May 19, 2017, we used the net proceeds of the Notes and a portion of the ABL Facility to fully repay amounts outstanding under the Term Loan B of $258.0 million and under the Revolver of $4.1 million. We recorded a loss on the early retirement of long-term debt of $2.1 million, which included $1.5 million of unamortized debt issuance costs on the Term Loan B and the Revolver and $0.6 million of unamortized discount on the Term Loan B. The following payments or prepayments of the Term Loan B were made during the year ended December 31, 2016 and through the date of the termination, including interest through the payment date as follows: Date Principal Paid Unamortized Discount (Dollars in Thousands) May 19, 2017 $ 258,000 $ 550 February 28, 2017 3,000 6 January 30, 2017 2,000 5 December 30, 2016 5,000 12 November 30, 2016 1,000 3 September 30, 2016 1,500 4 September 30, 2016 750 — June 30, 2016 441 1 June 30, 2016 750 — March 31, 2016 750 — March 17, 2016 809 2 Debt issuance costs were amortized to non-cash Debt issuance costs associated with the Revolver were recorded as an asset in accordance with ASU 2015-15. non-cash Summary of long-term debt obligations Long-term debt consisted of the following: December 31, 2017 September 30, 2018 (Dollars in thousands) 6.75% Senior Secured Notes $ 255,000 $ 245,000 Less unamortized debt issuance costs based on imputed interest rate of 7.08% (5,774 ) (4,867 ) 6.75% Senior Secured Notes net carrying value 249,226 240,133 Asset-Based Revolving Credit Facility principal outstanding 9,000 10,200 Capital leases and other loans 462 77 Long-term debt and capital lease obligations less unamortized debt issuance costs 258,688 250,410 Less current portion (9,109 ) (10,228 ) Long-term debt and capital lease obligations less unamortized debt issuance costs, net of current portion $ 249,579 $ 240,182 In addition to the outstanding amounts listed above, we also have interest payments related to our long-term debt as follows as of September 30, 2018: • Outstanding borrowings of $10.2 million under the ABL Facility, with interest payments ranges from Base Rate plus 0.50% to 1.00% for base rate borrowings and LIBOR plus 1.50% to 2.00% for LIBOR rate borrowings; • $245.0 million aggregate principal amount of Notes with semi-annual interest payments at an annual rate of 6.75%; and • Commitment fee of 0.25% to 0.375% on the unused portion of the ABL Facility. Other Debt We have several capital leases related to office equipment. The obligation recorded at December 31, 2017 and September 30, 2018 represents the present value of future commitments under the capital lease agreements. Maturities of Long-Term Debt and Capital Lease Obligations Principal repayment requirements under all long-term debt agreements outstanding at September 30, 2018 for each of the next five years and thereafter are as follows: Amount For the Twelve Months Ended September 30, (Dollars in thousands) 2019 $ 10,228 2020 14 2021 15 2022 14 2023 6 Thereafter 245,000 $ 255,277

Stock Incentive Plan

Stock Incentive Plan	9 Months Ended
	Sep. 30, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock Incentive Plan	NOTE 12. STOCK INCENTIVE PLAN Our Amended and Restated 1999 Stock Incentive Plan (the “Plan”) provides for grants of equity-based awards to employees, non-employee A maximum of 5,000,000 shares of common stock are authorized under the Plan. All awards have restriction periods tied primarily to employment and/or service. The Plan allows for accelerated or continued vesting in certain circumstances as defined in the Plan including death, disability, a change in control, and termination or retirement. The Board of Directors, or a committee appointed by the Board, has discretion subject to limits defined in the Plan, to modify the terms of any outstanding award. Under the Plan, the Board, or a committee appointed by the Board, may impose restrictions on the exercise of awards during pre-defined 10b5-1 pre-established We recognize non-cash Compensation—Stock Compensation The following table reflects the components of stock-based compensation expense recognized in the Condensed Consolidated Statements of Operations for the three and nine month periods ended September 30, 2018 and 2017: Three Months Ended September 30, Nine Months Ended September 30, 2017 2018 2017 2018 (Dollars in thousands) (Dollars in thousands) Stock option compensation expense included in unallocated corporate expenses $ 27 $ 120 $ 126 $ 220 Restricted stock shares compensation expense included in unallocated corporate expenses 225 — 1,100 — Stock option compensation expense included in broadcast operating expenses 7 40 41 82 Restricted stock shares compensation expense included in broadcast operating expenses — — 224 — Stock option compensation expense included in digital media operating expenses 6 27 25 50 Restricted stock shares compensation expense included in digital media operating expenses — — 124 — Stock option compensation expense included in publishing operating expenses 3 4 17 11 Restricted stock shares compensation expense included in publishing operating expenses — — 36 — Total stock-based compensation expense, pre-tax $ 268 $ 191 $ 1,693 $ 363 Tax expense for stock-based compensation expense (107 ) (49 ) (677 ) (94 ) Total stock-based compensation expense, net of tax $ 161 $ 142 $ 1,016 $ 269 Stock Option and Restricted Stock Grants Eligible employees may receive stock option awards annually with the number of shares and type of instrument generally determined by the employee’s salary grade and performance level. Incentive and non-qualified The Plan also allows for awards of restricted stock, which have been granted periodically to non-employee non-employee 505-50 Equity Based Payments to Non Employees The fair value of each award is estimated as of the date of the grant using the Black-Scholes valuation model. The expected volatility reflects the consideration of the historical volatility of our common stock as determined by the closing price over a six to ten year term commensurate with the expected term of the award. Expected dividends reflect the amount of quarterly distributions authorized and declared on our Class A and Class B common stock as of the grant date. The expected term of the awards are based on evaluations of historical and expected future employee exercise behavior. The risk-free interest rates for periods within the expected term of the award are based on the U.S. Treasury yield curve in effect during the period the options were granted. We have used historical data to estimate future forfeiture rates to apply against the gross amount of compensation expense determined using the valuation model. These estimates have approximated our actual forfeiture rates. The weighted-average assumptions used to estimate the fair value of the stock options using the Black-Scholes valuation model were as follows for the three and nine month periods ended September 30, 2018: Three Months Ended Nine Months Ended Expected volatility — 41.84 % Expected dividends — 7.89 % Expected term (in years) — 7.4 Risk-free interest rate — 2.93 % Activity with respect to the company’s option awards during the nine month period ended September 30, 2018 is as follows: Options Shares Weighted Average Weighted Average Weighted Average Aggregate (Dollars in thousands, except weighted average exercise price and weighted average grant date fair value) Outstanding at January 1, 2018 1,428,462 $ 5.20 $ 2.96 3.7 years $ 653 Granted 650,000 3.30 1.86 Exercised (17,615 ) 2.49 2.11 $ 35 Forfeited or expired (71,375 ) 4.42 3.20 $ 28 Outstanding at September 30, 2018 1,989,472 $ 4.63 $ 2.60 4.3 years $ 312 Exercisable at September 30, 2018 1,055,716 $ 5.51 $ 3.38 2.5 years $ 179 Expected to Vest 886,601 $ 4.65 $ 2.62 4.3 years $ 128 The aggregate intrinsic value represents the difference between the company’s closing stock price on September 30, 2018 of $3.40 and the option exercise price of the shares for stock options that were in the money, multiplied by the number of shares underlying such options. The total fair value of options vested during the nine month periods ended September 30, 2018 and 2017 was $0.3 million and $0.9 million, respectively. As of September 30, 2018, there was $0.5 million of total unrecognized compensation cost related to non-vested There were no restricted stock awards granted during the nine month period ended September 30, 2018.

Equity Transactions

Equity Transactions	9 Months Ended
	Sep. 30, 2018
Federal Home Loan Banks [Abstract]
Equity Transactions	NOTE 13. EQUITY TRANSACTIONS We account for stock-based compensation expense in accordance with FASB ASC Topic 718, Compensation-Stock Compensation non-cash paid-in While we intend to pay regular quarterly distributions, the actual declaration of such future distributions and the establishment of the per share amount, record dates, and payment dates are subject to final determination by our Board of Directors and dependent upon future earnings, cash flows, financial and legal requirements, and other factors. Any future distributions are likely to be comparable to prior declarations unless there are changes in expected future earnings, cash flows, financial and legal requirements. The following table shows distributions that have been declared and paid since January 1, 2017: Announcement Date Payment Date Amount Per Share Cash Distributed in thousands September 5, 2018 September 28, 2018 $ 0.0650 $ 1,702 May 31, 2018 June 29, 2018 $ 0.0650 $ 1,701 February 28, 2018 March 28, 2018 $ 0.0650 $ 1,701 December 7, 2017 December 29, 2017 $ 0.0650 $ 1,701 September 12, 2017 September 29, 2017 $ 0.0650 $ 1,701 June 1, 2017 June 30, 2017 $ 0.0650 $ 1,697 March 9, 2017 March 31, 2017 $ 0.0650 $ 1,691 Based on the number of shares of Class A and Class B currently outstanding, we expect to pay total annual distributions of approximately $6.8 million during the year ended December 31, 2018.

Basic and Diluted Net Earnings

Basic and Diluted Net Earnings Per Share	9 Months Ended
	Sep. 30, 2018
Earnings Per Share [Abstract]
Basic and Diluted Net Earnings Per Share	NOTE 14. BASIC AND DILUTED NET EARNINGS PER SHARE Basic net earnings per share has been computed using the weighted average number of Class A and Class B shares of common stock outstanding during the period. Restricted stock awards that vested immediately during the three month period ended March 31, 2017, were included in the weighted average number of common shares used to compute basic earnings per share because these restricted stock awards contained dividend participation and voting rights. Diluted net earnings per share is computed using the weighted average number of shares of Class A and Class B common stock outstanding during the period plus the dilutive effects of stock options. Options to purchase 1,989,472 and 1,454,462 shares of Class A common stock were outstanding at September 30, 2018 and 2017, respectively. Diluted weighted average shares outstanding exclude outstanding stock options whose exercise price is in excess of the average price of the company’s stock price. These options are excluded from the respective computations of diluted net income or loss per share because their effect would be anti-dilutive. As of September 30, 2018 and 2017 there were 128,284 and 335,682 dilutive shares, respectively.

Derivative Instruments

Derivative Instruments	9 Months Ended
	Sep. 30, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments	NOTE 15. DERIVATIVE INSTRUMENTS We are exposed to market risk from changes in interest rates. We actively monitor these fluctuations and may use derivative instruments primarily for the purpose of reducing the impact of changing interest rates on our variable rate debt and to reduce the impact of changing fair market values on our fixed rate debt. In accordance with our risk management strategy, we may use derivative instruments only for the purpose of managing risk associated with an asset, liability, committed transaction, or probable forecasted transaction that is identified by management. Our use of derivative instruments may result in short-term gains or losses that may increase the volatility of our earnings. Under FASB ASC Topic 815, Derivatives and Hedging, On March 27, 2013, we entered into an interest rate swap agreement with Wells Fargo that began on March 28, 2014 with a notional principal amount of $150.0 million. The agreement was entered to offset risks associated with the variable interest rate on the Term Loan B. Payments on the swap were due on a quarterly basis with a LIBOR floor of 0.625%. The swap was to expire on March 28, 2019 at a fixed rate of 1.645%. The interest rate swap agreement was not designated as a cash flow hedge, and as a result, all changes in the fair value were recognized in the current period statement of operations rather than through other comprehensive income. On May 19, 2017, we paid $0.8 million to terminate the interest rate swap. On May 19, 2017, we entered into a new senior credit facility, which is an asset-based revolving credit facility (“ABL Facility”). The ABL Facility is a five-year $30.0 million (subject to borrowing base) revolving credit facility maturing on May 19, 2022. Amounts outstanding under the ABL Facility bear interest at a rate based on LIBOR plus a spread of 1.50% to 2.0% per annum based on a pricing grid depending on the average available amount for the most recently ended quarter or at the Base Rate (as defined in the Credit Agreement) plus a spread of 0.50% to 1.0% per annum based on a pricing grid depending on the average available amount for the most recently ended quarter. Additionally, we pay a commitment fee on the unused balance of 0.25% to 0.375% per year. If an event of default occurs, the interest rate may increase by 2.00% per annum. Amounts outstanding under the ABL Facility may be paid and then re-borrowed

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2018
Fair Value Disclosures [Abstract]
Fair Value Measurements	NOTE 16. FAIR VALUE MEASUREMENTS FASB ASC Topic 820 Fair Value Measurements and Disclosures, • Level 1 Inputs • Level 2 Inputs • Level 3 Inputs As of September 30, 2018, the carrying value of cash and cash equivalents, trade accounts receivables, accounts payable, accrued expenses and accrued interest approximates fair value due to the short-term nature of such instruments. The carrying amount of the Notes at September 30, 2018 was $245.0 million compared to the estimated fair value of $221.1 million, based on the prevailing interest rates and trading activity of our Notes. We have certain assets that are measured at fair value on a non-recurring KCRO-AM KOTK-AM The categorization of the framework used to price the assets is considered Level 3 due to the subjective nature of the unobservable inputs used when estimating the fair value. The following table summarizes the fair value of our financial assets and liabilities that are measured at fair value: September 30, 2018 Carrying Value Fair Value Measurement Category Level 1 Level 2 Level 3 (Dollars in thousands) Assets Estimated fair value of assets held for sale $ 1,375 $ — $ — $ 1,375 Estimated fair value of other indefinite-lived intangible assets 313 — — 313 Liabilities: Estimated fair value of contingent earn-out 51 — — 51 Long-term debt and capital lease obligations less unamortized debt issuance costs 250,410 — 221,113 —

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2018
Income Tax Disclosure [Abstract]
Income Taxes	NOTE 17. INCOME TAXES We recognize deferred tax assets and liabilities for future tax consequences attributable to differences between our consolidated financial statement carrying amount of assets and liabilities and their respective tax bases. We measure these deferred tax assets and liabilities using enacted tax rates expected to apply in the years in which these temporary differences are expected to reverse. We recognize the effect on deferred tax assets and liabilities resulting from a change in tax rates in income in the period that includes the date of the change. We recognized no adjustments for our unrecognized tax benefits as of September 30, 2018 and 2017. On December 22, 2017, the Tax Cuts and Jobs Act of 2017 (the “Act”) was signed into law making significant changes to the Internal Revenue Code. Changes include, but are not limited to, a corporate tax rate decrease from 35% to 21% effective for tax years beginning after December 31, 2017. In March 2018, the FASB issued ASU 2018-05 , Income Taxes (Topic 740): Amendments to SEC Paragraphs Pursuant to SEC Staff Accounting Bulletin No. 118 (SEC Update) Investments—Debt Securities (Topic 320) 2018-05 2018-05 For financial reporting purposes, we recorded a valuation allowance of $6.2 million as of December 31, 2017 to offset $6.0 million of the deferred tax assets related to the state net operating loss carryforwards and $0.2 million associated with asset impairments. For financial reporting purposes, we recorded a valuation allowance of $4.5 million as of December 31, 2016 to offset $4.2 million of the deferred tax assets related to the state net operating loss carryforwards and $0.3 million associated with asset impairments. At December 31, 2017, we had net operating loss carryforwards for federal income tax purposes of approximately $153.1 million that expire in 2020 through 2037 and for state income tax purposes of approximately $790.4 million that expire in years 2018 through 2037. For financial reporting purposes at December 31, 2017, we had a valuation allowance of $6.2 million, net of federal benefit, to offset $6.0 million of the deferred tax assets related to the state net operating loss carryforwards and $0.2 million associated with asset impairments. Our evaluation was performed for tax years that remain subject to examination by major tax jurisdictions, which range from 2013 through 2017. The amortization of our indefinite-lived intangible assets for tax purposes but not for book purposes creates deferred tax liabilities. A reversal of deferred tax liabilities may occur when indefinite-lived intangibles: (1) become impaired; or (2) are sold, which would typically only occur in connection with the sale of the assets of a station or groups of stations or the entire company in a taxable transaction. Due to the amortization for tax purposes and not book purposes of our indefinite-lived intangible assets, we expect to continue to generate deferred tax liabilities in future periods exclusive of any impairment losses in future periods. These deferred tax liabilities and net operating loss carryforwards result in differences between our provision for income tax and cash paid for taxes. Valuation Allowance (Deferred Taxes) For financial reporting purposes, we recorded a valuation allowance of $6.2 million as of September 30, 2018 to offset $6.0 million of the deferred tax assets related to the state net operating loss carryforwards and $0.2 million associated with asset impairments. We regularly review our financial forecasts in an effort to determine our ability to utilize the net operating loss carryforwards for tax purposes. Accordingly, the valuation allowance is adjusted periodically based on our estimate of the benefit the company will receive from such carryforwards.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2018
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	NOTE 18. COMMITMENTS AND CONTINGENCIES The Company enters into various agreements in the normal course of business that contain minimum guarantees. These minimum guarantees are often tied to future events, such as future revenue earned in excess of the contractual level. Accordingly, the fair value of these arrangements is zero. The Company also records contingent earn-out earn-out earn-out earn-out earn-out earn-out earn-out The Company and its subsidiaries, incident to its business activities, are parties to a number of legal proceedings, lawsuits, arbitration and other claims. Such matters are subject to many uncertainties and outcomes that are not predictable with assurance. We evaluate claims based on what we believe to be both probable and reasonably estimable. We are unable to ascertain the ultimate aggregate amount of monetary liability or the financial impact with respect to these matters. The company maintains insurance that may provide coverage for such matters. The company believes, at this time, that the final resolution of these matters, individually and in the aggregate, will not have a material adverse effect upon the Company’s consolidated financial position, results of operations or cash flows. Salem leases various land, offices, studios and other equipment under operating leases that generally expire over the next ten to twenty-five years. The majority of these leases are subject to escalation clauses and may be renewed for successive periods ranging from one to five years on terms similar to current agreements and except for specified increases in lease payments.

Segment Data

Segment Data	9 Months Ended
	Sep. 30, 2018
Segment Reporting [Abstract]
Segment Data	NOTE 19. SEGMENT DATA FASB ASC Topic 280, Segment Reporting Our operating segments reflect how our chief operating decision makers, which we define as a collective group of senior executives, assess the performance of each operating segment and determine the appropriate allocations of resources to each segment. We continue to review our operating segment classifications to align with operational changes in our business and may make future changes as necessary. We measure and evaluate our operating segments based on operating income and operating expenses that do not include allocations of costs related to corporate functions, such as accounting and finance, human resources, legal, tax and treasury; nor do they include costs such as amortization, depreciation, taxes or interest expense. Changes to our operating segments did not impact the reporting units used to test non-amortizable The table below presents financial information for each operating segment as of September 30, 2018 and 2017: Broadcast Digital Publishing Unallocated Consolidated (Dollars in thousands) Three Months Ended September 30, 2018 Net revenue $ 48,812 $ 10,397 $ 6,319 $ — $ 65,528 Operating expenses 37,158 8,021 6,210 3,987 55,376 Net operating income (loss) before depreciation, amortization and net loss on the disposition of assets $ 11,654 $ 2,376 $ 109 $ (3,987 ) $ 10,152 Depreciation 1,923 777 128 204 3,032 Amortization 9 1,370 225 — 1,604 Net loss on the disposition of assets (759 ) — — — (759 ) Net operating income (loss) $ 10,481 $ 229 $ (244 ) $ (4,191 ) $ 6,275 Three Months Ended September 30, 2017 Net revenue $ 48,424 $ 10,446 $ 6,563 $ — $ 65,433 Operating expenses 37,040 8,169 6,686 4,233 56,128 Net operating income (loss) before depreciation, amortization, change in the estimated fair value of contingent earn-out $ 11,384 $ 2,277 $ (123 ) $ (4,233 ) $ 9,305 Depreciation 1,920 792 159 211 3,082 Amortization 11 860 264 — 1,135 Change in the estimated fair value of contingent earn-out — (12 ) — — (12 ) Net gain on the disposition of assets 97 — — (2 ) 95 Net operating income (loss) $ 9,356 $ 637 $ (546 ) $ (4,442 ) $ 5,005 Broadcast Digital Publishing Unallocated Consolidated (Dollars in thousands) Nine Months Ended September 30, 2018 Net revenue $ 147,425 $ 31,051 $ 17,119 $ — $ 195,595 Operating expenses 110,151 24,792 17,319 11,938 164,200 Net operating income (loss) before depreciation, amortization and net loss on the disposition of assets $ 37,274 $ 6,259 $ (200 ) $ (11,938 ) $ 31,395 Depreciation 5,692 2,346 388 650 9,076 Amortization 29 3,818 710 1 4,558 Change in the estimated fair value of contingent earn-out — 72 — — 72 Net loss on the disposition of assets 4,400 — — — 4,400 Net operating income (loss) $ 27,153 $ 23 $ (1,298 ) $ (12,589 ) $ 13,289 Nine Months Ended September 30, 2017 Net revenue $ 145,479 $ 31,998 $ 19,048 $ — $ 196,525 Operating expenses 108,807 25,241 18,705 13,183 165,936 Net operating income (loss) before depreciation, amortization, change in the estimated fair value of contingent earn-out $ 36,672 6,757 $ 343 $ (13,183 ) $ 30,589 Depreciation 5,668 2,389 515 599 9,171 Amortization 46 2,494 879 1 3,420 Change in the estimated fair value of contingent earn-out — (54 ) — — (54 ) Impairment of indefinite-lived long-term assets other than goodwill — — 19 — 19 Net gain on the disposition of assets (399 ) — (9 ) (2 ) (410 ) Net operating income (loss) $ 31,357 $ 1,928 $ (1,061 ) $ (13,781 ) $ 18,443 Broadcast Digital Publishing Unallocated Consolidated (Dollars in thousands) As of September 30, 2018 Inventories, net $ — $ 336 $ 555 $ — $ 891 Property and equipment, net 81,552 6,442 1,000 7,718 96,712 Broadcast licenses 379,182 — — — 379,182 Goodwill 2,960 21,933 1,888 8 26,789 Other indefinite-lived intangible assets — — 313 — 313 Amortizable intangible assets, net 312 10,347 2,237 3 12,899 As of December 31, 2017 Inventories, net $ — $ 313 $ 417 $ — $ 730 Property and equipment, net 83,901 6,173 1,281 8,125 99,480 Broadcast licenses 380,914 — — — 380,914 Goodwill 3,581 20,947 1,888 8 26,424 Other indefinite-lived intangible assets — — 313 — 313 Amortizable intangible assets, net 351 9,801 2,947 5 13,104

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2018
Subsequent Events [Abstract]
Subsequent Events	NOTE 20. SUBSEQUENT EVENTS On October 31, 2018, we closed on the sale of radio stations KCRO-AM KOTK-AM Subsequent events reflect all applicable transactions through the date of the filing.

Basis of Presentation and Sig_2

Basis of Presentation and Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2018
Accounting Policies [Abstract]
Description of Business	Description of Business Salem is a domestic multimedia company specializing in Christian and conservative content. Our media properties include radio broadcasting, digital media, and publishing entities. We have three operating segments: (1) Broadcast, (2) Digital Media, and (3) Publishing, which are discussed in Note 19 – Segment Data. Our foundational business is radio broadcasting, which includes the ownership and operation of radio stations in large metropolitan markets. We also own and operate Salem Radio Network TM TM TM TM TM Our digital media based businesses provide Christian, conservative, investing and health-themed content, e-commerce, ® TM TM TM TM ® TM TM TM TM TM TM non-individualized Our church e-commerce TM TM TM TM E-commerce TM Our web content is accessible through all of our radio station websites that feature content of interest to local audiences throughout the United States. Our publishing operating segment includes three businesses: (1) Regnery Publishing TM Singing News ®
Variable Interest Entities	Variable Interest Entities We may enter into agreements or investments with other entities that could qualify as variable interest entities (“VIEs”) in accordance with Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 810 Consolidation. re-evaluate We may enter into lease arrangements with entities controlled by our principal stockholders or other related parties. We believe that the requirements of FASB ASC Topic 810 do not apply to these entities because the lease arrangements do not contain explicit guarantees of the residual value of the real estate, do not contain purchase options or similar provisions and the leases are at terms that do not vary materially from leases that would have been available with unaffiliated parties. Additionally, we do not have an equity interest in the entities controlled by our principal stockholders or other related parties and we do not guarantee debt of the entities controlled by our principal stockholders or other related parties. We also enter into Local Marketing Agreements (“LMAs”) or Time Brokerage Agreements (“TBAs”) contemporaneously with entering into an Asset Purchase Agreement (“APA”) to acquire or sell a radio station. Typically, both LMAs and TBAs are contractual agreements under which the station owner/licensee makes airtime available to a programmer/licensee in exchange for a fee and reimbursement of certain expenses. LMAs and TBAs are subject to compliance with the antitrust laws and the communications laws, including the requirement that the licensee must maintain independent control over the station and, in particular, its personnel, programming, and finances. The FCC has held that such agreements do not violate the communications laws as long as the licensee of the station receiving programming from another station maintains ultimate responsibility for, and control over, station operations and otherwise ensures compliance with the communications laws. The requirements of FASB ASC Topic 810 may apply to entities under LMAs or TBAs, depending on the facts and circumstances related to each transaction. As of September 30, 2018, we did not have implicit or explicit arrangements that required consolidation under the guidance in FASB ASC Topic 810.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates. Significant areas for which management uses estimates include: • revenue recognition, • asset impairments, including goodwill, broadcasting licenses, other indefinite-lived intangible assets, and assets held for sale; • probabilities associated with the potential for contingent earn-out • fair value measurements; • contingency reserves; • allowance for doubtful accounts; • sales returns and allowances; • barter transactions; • inventory reserves; • reserves for royalty advances; • fair value of equity awards; • self-insurance reserves; • estimated lives for tangible and intangible assets; • income tax valuation allowances; and • uncertain tax positions. These estimates require the use of judgment as future events and the effect of these events cannot be predicted with certainty. The estimates will change as new events occur, as more experience is acquired and as more information is obtained. We evaluate and update our assumptions and estimates on an ongoing basis and we may consult outside experts to assist as considered necessary.
Reclassifications	Reclassifications Certain reclassifications have been made to the prior year financial statements to conform to the current year presentation. These include reclassifications of contract liabilities associated with the adoption of new revenue recognition guidance as of January 1, 2018.
Revenue Recognition	Revenue Recognition We adopted Accounting Standards Codification (“ASC”) Topic 606, Revenue from Contracts with Customers ASC Topic 606 is a comprehensive revenue recognition model that requires revenue to be recognized when control of the promised goods or services are transferred to our customers at an amount that reflects the consideration that we expect to receive. Application of ASC Topic 606 requires us to use more judgment and make more estimates than under former guidance. Application of ASC Topic 606 requires a five-step model applicable to all revenue streams as follows: Identification of the contract, or contracts, with a customer A contract with a customer exists when (i) we enter into an enforceable contract with a customer that defines each party’s rights regarding the goods or services to be transferred and identifies the payment terms related to these goods or services, (ii) the contract has commercial substance and, (iii) we determine that collection of substantially all consideration for goods or services that are transferred is probable based on the customer’s intent and ability to pay the promised consideration. We apply judgment in determining the customer’s ability and intention to pay, which is based on a variety of factors including the customer’s historical payment experience or, in the case of a new customer, published credit and financial information pertaining to the customer. Identification of the performance obligations in the contract Performance obligations promised in a contract are identified based on the goods or services that will be transferred to the customer that are both capable of being distinct, whereby the customer can benefit from the goods or service either on its own or together with other resources that are readily available from third parties or from us, and are distinct in the context of the contract, whereby the transfer of the goods or services is separately identifiable from other promises in the contract. When a contract includes multiple promised goods or services, we apply judgment to determine whether the promised goods or services are capable of being distinct and are distinct within the context of the contract. If these criteria are not met, the promised goods or services are accounted for as a combined performance obligation. Determination of the transaction price The transaction price is determined based on the consideration to which we will be entitled to receive in exchange for transferring goods or services to our customer. We estimate any variable consideration included in the transaction price using the expected value method that requires the use of significant estimates for discounts, cancellation periods, refunds and returns. Variable consideration is described in detail below. Allocation of the transaction price to the performance obligations in the contract If the contract contains a single performance obligation, the entire transaction price is allocated to the single performance obligation. Contracts that contain multiple performance obligations require an allocation of the transaction price to each performance obligation based on a relative Stand-Alone Selling Price (“SSP,”) basis. We determine SSP based on the price at which the performance obligation would be sold separately. If the SSP is not observable, we estimate the SSP based on available information, including market conditions and any applicable internally approved pricing guidelines. Recognition of revenue when, or as, we satisfy a performance obligation We recognize revenue at the point in time that the related performance obligation is satisfied by transferring the promised goods or services to our customer. Principal versus Agent Considerations When another party is involved in providing goods or services to our customer, we apply the principal versus agent guidance in ASC Topic 606 to determine if we are the principal or an agent to the transaction. When we control the specified goods or services before they are transferred to our customer, we report revenue gross, as principal. If we do not control the goods or services before they are transferred to our customer, revenue is reported net of the fees paid to the other party, as agent. Our evaluation to determine if we control the goods or services within ASC Topic 606 includes the following indicators: We are primarily responsible for fulfilling the promise to provide the specified good or service. When we are primarily responsible for providing the goods and services, such as when the other party is acting on our behalf, we have indication that we are the principal to the transaction. We consider if we may terminate our relationship with the other party at any time without penalty or without permission from our customer. We have inventory risk before the specified good or service has been transferred to a customer or after transfer of control to the customer. We may commit to obtaining the services of another party with or without an existing contract with our customer. In these situations, we have risk of loss as principal for any amount due to the other party regardless of the amount(s) we earn as revenue from our customer. The entity has discretion in establishing the price for the specified good or service. We have discretion in establishing the price our customer pays for the specified goods or services. Trade Accounts Receivable and Contract Assets Trade accounts receivable, net of allowances: written-off Unbilled revenue end-of-flight, Contract Assets - Costs to Obtain a Contract: Contract Liabilities Contract liabilities consist of customer advance payments and billings in excess of revenue recognized. We may receive payments from our customers in advance of completing our performance obligations. Additionally, new customers, existing customers without approved credit terms and authors purchasing specific self-publishing services, are required to make payments in advance of the delivery of the products or performance of the services. We record contract liabilities equal to the amount of payments received in excess of revenue recognized, including payments that are refundable if the customer cancels the contract according to the contract terms. Contract liabilities were historically recorded under the caption “deferred revenue” and are reported as current liabilities on our condensed consolidated financial statements when the time to fulfill the performance obligations under terms of our contracts is less than one year. Long-term contract liabilities represent the amount of payments received in excess of revenue earned, including those that are refundable, when the time to fulfill the performance obligation is greater than one year. Our long-term liabilities consist of subscriptions with a term of two-years Significant changes in our contract liabilities balances during the period are as follows: Short Term Long-Term (Dollars in thousands) Balance, beginning of period January 1, 2018 $ 12,763 $ 1,951 Revenue recognized during the period that was included in the beginning balance of contract liabilities (6,864 ) — Additional amounts recognized during the period 16,448 574 Revenue recognized during the period that was recorded during the period (10,971 ) — Transfers 972 (972 ) Balance, end of period September 30, 2018 $ 12,348 $ 1,553 Amount refundable at beginning of period $ 12,450 $ 1,677 Amount refundable at end of period $ 12,221 $ 1,553 We expect to satisfy these performance obligations as follows: Amount For the Twelve Months Ended September 30, (Dollars in thousands) 2019 $ 12,348 2020 719 2021 354 2022 177 2023 101 Thereafter 202 $ 13,901 Significant Financing Component The length of our typical sales agreement is less than 12 months, however, we may sell subscriptions with a two-year Our self-publishing contracts may exceed a one year term due to the length of time for an author to submit and approve a manuscript for publication. The author may pay for publishing services in installments over the production time line with payments due in advance of performance. The timing of the transfer of goods and services under self-publishing arrangements are at the discretion of the author and based on future events that are not substantially within our control. We require advance payments to provide us with protection from incurring costs for products that are unique and only sellable to the author. Based on these considerations, we have concluded that our self-publishing contracts do not contain a significant financing component under ASC Topic 606. Variable Consideration Similar to former revenue recognition guidance, we continue to make significant estimates related to variable consideration at the point of sale, including estimates for refunds and product returns. Under ASC Topic 606, estimates of variable consideration are to be recognized before contingencies are resolved in certain circumstances, including when it is probable that a significant reversal in the amount of any estimated cumulative revenue will not occur. We enter into agreements under which the amount of revenue we earn is contingent upon the amount of money raised by our customer over the contract term. Our customer is typically a charity or programmer that purchases blocks of programming time or spots to generate revenue from our audience members. Contract terms can range from a few weeks to a few months, depending the charity or programmer. If the campaign does not generate a pre-determined Based on the constraints for using estimates of variable consideration within ASC Topic 606, and our historical experience with these campaigns, we will continue to recognize revenue at the base amount of the campaign with variable consideration recognized when the uncertainty of each campaign is resolved. These constraints include: (1) the amount of consideration received is highly susceptible to factors outside of our influence, specifically the extent to which our audience donates or contributes to our customer or programmer, (2) the length of time in which the uncertainty about the amount of consideration expected is to be resolved, and (3) our experience has shown these contracts have a large number and broad range of possible outcomes. Trade and Barter Transactions In broadcasting, trade or barter agreements are commonly used to reduce cash expenses by exchanging advertising time for goods or services. We may enter barter agreements to exchange air time or digital advertising for goods or services that can be used in our business or that can be sold to our audience under Listener Purchase Programs. The terms of these barter agreements permit us to preempt the barter air time or digital campaign in favor of customers who purchase the air time or digital campaign for cash. The value of these non-cash Trade and barter revenues and expenses were as follows: Three Months Ended Nine Months Ended 2017 2018 2017 2018 (Dollars in thousands) Net broadcast barter revenue $ 1,580 $ 1,384 $ 4,105 $ 4,915 Net digital media barter revenue — — — 93 Net publishing barter revenue 7 3 47 10 Net broadcast barter expense $ 1,663 $ 1,458 $ 3,928 $ 4,211 Net digital media barter expense — 3 — 3 Net publishing barter expense 1 7 84 9 Practical Expedients and Exemptions We have elected certain practical expedients and policy elections as permitted under ASC Topic 606 as follows: • We applied the transitional guidance to contracts that were not complete at the date of our initial application of ASC Topic 606 on January 1, 2018. • We adopted the practical expedient related to not adjusting the promised amount of consideration for the effects of a significant financing component if the period between transfer of product and customer payment is expected to be less than one year at the time of contract inception; • We made the accounting policy election to not assess promised goods or services as performance obligations if they are immaterial in the context of the contract with the customer; • We made the accounting policy election to exclude sales and similar taxes from the transaction price; • We made the accounting policy election to treat shipping and handling costs that occur after control transfers as fulfillment activities instead of assessing such activities as separate performance obligations; and • We adopted the practical expedient not to disclose the value of unsatisfied performance obligations for contracts with an original expected length of one year or less. The following table presents our revenues disaggregated by revenue source for each of our three operating segments: Nine Months Ended September 30, 2018 Broadcast Digital Media Publishing Consolidated (dollars in thousands) By Source of Revenue: Block Programming - National $ 37,318 $ — $ — $ 37,318 Block Programming - Local 24,643 — — 24,643 Spot Advertising - National 12,126 — — 12,126 Spot Advertising - Local 41,224 — — 41,224 Infomercials 1,464 — — 1,464 Network 14,501 — — 14,501 Digital Advertising 4,764 16,159 346 21,269 Digital Streaming 584 3,316 — 3,900 Digital Downloads and eBooks — 3,722 1,155 4,877 Subscriptions 789 6,052 699 7,540 Book Sales and e-commerce 360 1,533 9,673 11,566 Self-Publishing fees — — 4,231 4,231 Advertising - Print 36 — 454 490 Other Revenues 9,616 269 561 10,446 $ 147,425 $ 31,051 $ 17,119 $ 195,595 Timing of Revenue Recognition Point in Time $ 145,892 $ 30,969 $ 17,073 $ 193,934 Rental Income(1) 1,533 82 46 1,661 $ 147,425 $ 31,051 $ 17,119 $ 195,595 (1) Rental income is not applicable to ASC Topic 606, but shown for the purpose of identifying each revenue source presented in total revenue on our Condensed Consolidated Financial Statements within this report on Form 10-Q. A summary of each of our revenue streams under ASC Topic 606 is as follows: Block Programming . 1 2 50-minutes Spot Advertising Network Revenue . Digital Advertising. Broadcast digital advertising revenue consists of local digital advertising, such as the sale of banner advertisements on our owned and operated websites, the sale of advertisements on our own and operated mobile applications, and advertisements in digital newsletters that we produce, as well an national digital advertising, or the sale of custom digital advertising solutions, such as web pages and social media campaigns, that we offer to our customers. Advertising revenue is recorded on a gross basis unless an agency represents the advertiser, in which case, revenue is reported net of the commission retained by the agency. In January of this year we hired a VP of Local Digital to expand our role as a digital advertising agency to provide a full range of digital products to our customers. In our role as a digital agency, our sales team provides our customers with integrated digital advertising solutions that optimize the performance of their campaign, which we view as one performance obligation. Our advertising campaigns are designed to be “white label” agreements between Salem and our advertiser, meaning we provide special care and attention to the details of the campaign. We provide custom digital product offerings, including tools for metasearch, retargeting, website design, reputation management, online listing services, and social media marketing. Digital advertising solutions may include third-party websites, such as Google or Facebook, which can be included in a digital advertising social media campaign. We manage all aspects of the digital campaign, including social media placements, review and approval of target audiences, and the monitoring of actual results to make modifications as needed. We may contract directly with a third-party, however, we are responsible for delivering the campaign results to our customer with or without the third-party. We are responsible for any payments due to the third-party regardless of the campaign results and without regard to the status of payment from our customer. We have discretion in setting the price to our customer without input or approval from the third-party. Accordingly, revenue is reported gross, as principal, as the performance obligation is delivered, which represents the point in time that control is transferred to the customer thereby completing our performance obligation. Digital Streaming Digital Downloads and e-books e-books. Subscriptions on-air pro-rata Book Sales e-Commerce E-Commerce re-saleable Self-Publishing Fees Revenue is recognized upon completion of each performance obligation, which represents the point in time that control of the product is transferred to the author, thereby completing our performance obligation. Revenue is recorded at the net amount due from the author, including discounts based on the service package. Advertising - Print Other Revenues . on-air
Recent Accounting Pronouncements	Recent Accounting Pronouncements Changes to accounting principles are established by the FASB in the form of ASUs to the FASB’s Codification. We consider the applicability and impact of all ASUs on our financial position, results of operations, cash flows, or presentation thereof. Described below are ASUs that are not yet effective, but may be applicable to our financial position, results of operations, cash flows, or presentation thereof. ASUs not listed below were assessed and determined to not be applicable to our financial position, results of operations, cash flows, or presentation thereof. In August 2018, the FASB issued ASU 2018-15, Intangibles-Goodwill and Other-Internal-Use 350-40): 2018-15 internal-use In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework-Changes to the Disclosure Requirements for Fair Value Measurement. 2018-13 In July 2018, the FASB issued ASU No. 2018-11, Leases (Topic 842): Targeted Improvements 2018-11 2016-02. 2016-02 2016-02. 2016-02 In July 2018, the FASB issued ASU 2018-10, Codification Improvements to Topic 842, Leases 2018-10 2016-02. 2018-10 2018-10 sale-and-leaseback sale-and-leaseback 2016-02. 2016-02 In July 2018, the FASB issued ASU 2018-09, Codification Improvements 2018-09 In June 2018, the FASB issued ASU 2018-07, Compensation—Stock Compensation (Topic 718): Improvements to Nonemployee Share-Based Payment 2018-07 non-employees In February 2018, the FASB issued ASU 2018-02, Income Statement - Reporting Comprehensive Income (Topic 220) – Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income 2018-02 In January 2018, the FASB issued ASU 2018-01, Leases (Topic 842) Land Easement Practical Expedient for Transition to Topic 842. 2018-01 2018-01 2016-02 2016-02. 2016-02 In August 2017, the FASB issued ASU 2017-12, Derivatives and Hedging: Targeted Improvements to Accounting for Hedging Activities In March 2017, the FASB issued ASU 2017-08, Receivables – Nonrefundable Fees and Other Costs (Subtopic 310-20), 2017-08 In October 2016, the FASB issued ASU 2016-16 Intra-Entity Transfers of Assets Other Than Inventory In June 2016, the FASB issued ASU 2016-13, Financial Instruments-Credit Losses, held-to-maturity available-for-sale In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) right-of-use 2016-02 right-to-use
Business Combinations	Under the acquisition method of accounting as specified in FASB ASC Topic 805, Business Combinations 2017-01 Business Combinations (Topic 805) Clarifying the Definition of a Business Estimates of the fair value include discounted estimated cash flows to be generated by the assets and their expected useful lives based on historical experience, market trends and any synergies believed to be achieved from the acquisition. Acquisitions may include contingent consideration, the fair value of which is estimated as of the acquisition date as the present value of the expected contingent payments as determined using weighted probabilities of the payment amounts.

Basis of Presentation and Sig_3

Basis of Presentation and Significant Accounting Policies (Tables)	9 Months Ended
	Sep. 30, 2018
Accounting Policies [Abstract]
Significant Changes in Our Contract Liabilities	Significant changes in our contract liabilities balances during the period are as follows: Short Term Long-Term (Dollars in thousands) Balance, beginning of period January 1, 2018 $ 12,763 $ 1,951 Revenue recognized during the period that was included in the beginning balance of contract liabilities (6,864 ) — Additional amounts recognized during the period 16,448 574 Revenue recognized during the period that was recorded during the period (10,971 ) —
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction	We expect to satisfy these performance obligations as follows: Amount For the Twelve Months Ended September 30, (Dollars in thousands) 2019 $ 12,348 2020 719 2021 354 2022 177 2023 101 Thereafter 202 $ 13,901
Trade and Barter Transactions Expenses	Trade and barter revenues and expenses were as follows: Three Months Ended Nine Months Ended 2017 2018 2017 2018 (Dollars in thousands) Net broadcast barter revenue $ 1,580 $ 1,384 $ 4,105 $ 4,915 Net digital media barter revenue — — — 93 Net publishing barter revenue 7 3 47 10 Net broadcast barter expense $ 1,663 $ 1,458 $ 3,928 $ 4,211 Net digital media barter expense — 3 — 3 Net publishing barter expense 1 7 84 9
Reconciliation of Revenue from Segments to Consolidated	The following table presents our revenues disaggregated by revenue source for each of our three operating segments: Nine Months Ended September 30, 2018 Broadcast Digital Media Publishing Consolidated (dollars in thousands) By Source of Revenue: Block Programming - National $ 37,318 $ — $ — $ 37,318 Block Programming - Local 24,643 — — 24,643 Spot Advertising - National 12,126 — — 12,126 Spot Advertising - Local 41,224 — — 41,224 Infomercials 1,464 — — 1,464 Network 14,501 — — 14,501 Digital Advertising 4,764 16,159 346 21,269 Digital Streaming 584 3,316 — 3,900 Digital Downloads and eBooks — 3,722 1,155 4,877 Subscriptions 789 6,052 699 7,540 Book Sales and e-commerce 360 1,533 9,673 11,566 Self-Publishing fees — — 4,231 4,231 Advertising - Print 36 — 454 490 Other Revenues 9,616 269 561 10,446 $ 147,425 $ 31,051 $ 17,119 $ 195,595 Timing of Revenue Recognition Point in Time $ 145,892 $ 30,969 $ 17,073 $ 193,934 Rental Income(1) 1,533 82 46 1,661 $ 147,425 $ 31,051 $ 17,119 $ 195,595 (1) Rental income is not applicable to ASC Topic 606, but shown for the purpose of identifying each revenue source presented in total revenue on our Condensed Consolidated Financial Statements within this report on Form 10-Q.

Impairment of Goodwill and Ot_2

Impairment of Goodwill and Other Indefinite-Lived Intangible Assets (Tables)	9 Months Ended
	Sep. 30, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
Fair Value Measurement Inputs and Valuation Techniques	The assumptions used reflect those of a hypothetical market participant and not necessarily the actual or projected results of Salem. The key estimates and assumptions used in the start-up Long-term market revenue growth rate 1.9% Operating profit margin ranges (13.9)% -30.8% Risk-adjusted discount rate 9.0%

Acquistions and Recent Transa_2

Acquistions and Recent Transactions (Tables)	9 Months Ended
	Sep. 30, 2018
Text Block [Abstract]
Summary of Business Acquisitions and Asset Purchased	A summary of our business acquisitions and asset purchases during the nine month period ended September 30, 2018, none of which were individually or in the aggregate material to our Condensed Consolidated financial position as of the respective date of acquisition, is as follows: Acquisition Date Description Total Cost (Dollars in thousands) September 11, 2018 KTRB-AM, $ 5,349 August 9, 2018 Hilary Kramer Financial Newsletter (business acquisition) 439 August 7, 2018 Just1Word (business acquisition) 312 July 25, 2018 KZTS-AM KDXE-AM), 210 July 24, 2018 Childrens-Ministry-Deals.com (business acquisition) 3,700 June 25, 2018 KDXE-FM KZTS-FM), 1,100 April 19, 2018 HearItFirst.com (asset purchase) 70 $ 11,180
Summary of Total Acquisition Consideration	The following table summarizes the total acquisition consideration for the nine month period ended September 30, 2018: Description Total Consideration (Dollars in thousands) Cash payments made upon closing $ 10,854 Deferred payments 150 Present value of estimated fair value of contingent earn-out 51 Closing costs accrued for asset acquisitions 125 Total purchase price consideration $ 11,180
Total Acquisition Consideration Allocated	The fair value of the net assets acquired was allocated as follows: Net Broadcast Net Digital Net Total (Dollars in thousands) Assets Property and equipment $ 371 $ 715 $ 1,086 Broadcast licenses 6,281 — 6,281 Goodwill 7 986 993 Customer lists and contracts — 1,882 1,882 Domain and brand names — 1,252 1,252 Subscriber base and lists — 875 875 Non-compete — 19 19 Other amortizable intangible assets — 334 334 $ 6,659 $ 6,063 $ 12,722 Liabilities Contract liabilities, long-term $ — $ (1,542 ) $ (1,542 ) $ 6,659 4,521 11,180

Inventories (Tables)

Inventories (Tables)	9 Months Ended
	Sep. 30, 2018
Inventory Disclosure [Abstract]
Schedule of Inventory on Hand by Segment	The following table provides details of inventory on hand by segment: December 31, 2017 September 30, 2018 (Dollars in thousands) Regnery Publishing book inventories $ 2,038 $ 1,341 Reserve for obsolescence – Regnery Publishing (1,621 ) (786 ) Inventory, net - Regnery Publishing 417 555 Wellness products $ 349 $ 346 Reserve for obsolescence – Wellness products (36 ) (10 ) Inventory, net - Wellness products 313 336 Consolidated inventories, net $ 730 $ 891

Broadcast Licenses (Tables)

Broadcast Licenses (Tables)	9 Months Ended
	Sep. 30, 2018
Text Block [Abstract]
Schedule of Changes in Broadcasting Licenses	The following table presents the changes in broadcasting licenses that include acquisitions and divestitures of radio stations and FM translators as discussed in Note 4 of our Condensed Consolidated Financial Statements. Twelve Months Ended Nine Months Ended September 30, 2018 (Dollars in thousands) Balance, beginning of period before cumulative loss on impairment $ 494,058 $ 486,455 Accumulated loss on impairment (105,541 ) (105,541 ) Balance, beginning of period after cumulative loss on impairment 388,517 380,914 Acquisitions of radio stations 191 6,270 Acquisitions of FM translators and construction permits 198 11 Capital projects to improve broadcast signal and strength 5 — Dispositions of radio stations (7,997 ) (8,013 ) Balance, end of period before cumulative loss on impairment 486,455 484,723 Accumulated loss on impairment (105,541 ) (105,541 ) Balance, end of period after cumulative loss on impairment $ 380,914 $ 379,182

Goodwill (Tables)

Goodwill (Tables)	9 Months Ended
	Sep. 30, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of changes in goodwill	The following table presents the changes in goodwill including acquisitions and divestitures as discussed in Note 4 of our Condensed Consolidated Financial Statements. Goodwill Twelve Months Ended Nine Months Ended (Dollars in thousands) Balance, beginning of period before cumulative loss on impairment $ 27,642 $ 28,453 Accumulated loss on impairment (2,029 ) (2,029 ) Balance, beginning of period after cumulative loss on impairment 25,613 26,424 Acquisitions of radio stations 14 7 Acquisitions of digital media entities 810 986 Dispositions of radio stations — (628 ) Sale of income generating broadcast business (13 ) — Balance, end of period before cumulative loss on impairment 28,453 28,818 Accumulated loss on impairment (2,029 ) (2,029 ) Ending period balance $ 26,424 $ 26,789

Property and Equipment (Tables)

Property and Equipment (Tables)	9 Months Ended
	Sep. 30, 2018
Property, Plant and Equipment [Abstract]
Summary of categories of property and equipment	The following is a summary of the categories of our property and equipment: December 31, 2017 September 30, 2018 (Dollars in thousands) Land $ 32,320 $ 31,686 Buildings 28,962 28,942 Office furnishings and equipment 37,583 36,079 Office furnishings and equipment under capital lease obligations 244 207 Antennae, towers and transmitting equipment 85,632 85,330 Antennae, towers and transmitting equipment under capital lease obligations 795 — Studio, production and mobile equipment 29,697 28,959 Computer software and website development costs 24,477 26,308 Record and tape libraries 27 21 Automobiles 1,385 1,572 Leasehold improvements 19,003 19,383 Construction-in-progress 4,075 6,159 $ 264,200 $ 264,646 Less accumulated depreciation (164,720 ) (167,934 ) $ 99,480 $ 96,712

Amortizable Intangible Assets (

Amortizable Intangible Assets (Tables)	9 Months Ended
	Sep. 30, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
Summary of Significant Classes of Amortizable Intangible Assets	The following tables provide a summary of our significant classes of amortizable intangible assets: September 30, 2018 Accumulated Cost Amortization Net (Dollars in thousands) Customer lists and contracts $ 24,673 $ (21,498 ) $ 3,175 Domain and brand names 21,358 (16,218 ) 5,140 Favorable and assigned leases 2,256 (1,944 ) 312 Subscriber base and lists 9,672 (6,548 ) 3,124 Author relationships 2,771 (2,416 ) 355 Non-compete 2,048 (1,571 ) 477 Other amortizable intangible assets 1,666 (1,350 ) 316 $ 64,444 $ (51,545 ) $ 12,899 December 31, 2017 Cost Accumulated Net (Dollars in thousands) Customer lists and contracts $ 22,865 $ (20,888 ) $ 1,977 Domain and brand names 20,109 (14,650 ) 5,459 Favorable and assigned leases 2,379 (2,028 ) 351 Subscriber base and lists 8,797 (4,701 ) 4,096 Author relationships 2,771 (2,237 ) 534 Non-compete 2,029 (1,342 ) 687 Other amortizable intangible assets 1,333 (1,333 ) — $ 60,283 $ (47,179 ) $ 13,104
Amortizable Intangible Assets, Estimate Amortization Expense	Based on the amortizable intangible assets as of September 30, 2018, we estimate amortization expense for the next five years to be as follows: Amortization Expense (Dollars in thousands) 2018 (Oct – Dec) $ 1,635 2019 4,699 2020 3,275 2021 1,654 2022 969 Thereafter 667 Total $ 12,899

Long-Term Debt (Tables)

Long-Term Debt (Tables)	9 Months Ended
	Sep. 30, 2018
Long-Term Debt	Long-term debt consisted of the following: December 31, 2017 September 30, 2018 (Dollars in thousands) 6.75% Senior Secured Notes $ 255,000 $ 245,000 Less unamortized debt issuance costs based on imputed interest rate of 7.08% (5,774 ) (4,867 ) 6.75% Senior Secured Notes net carrying value 249,226 240,133 Asset-Based Revolving Credit Facility principal outstanding 9,000 10,200 Capital leases and other loans 462 77 Long-term debt and capital lease obligations less unamortized debt issuance costs 258,688 250,410 Less current portion (9,109 ) (10,228 ) Long-term debt and capital lease obligations less unamortized debt issuance costs, net of current portion $ 249,579 $ 240,182
Principle Repayment Requirements Under Long Term Agreements Outstanding	Principal repayment requirements under all long-term debt agreements outstanding at September 30, 2018 for each of the next five years and thereafter are as follows: Amount For the Twelve Months Ended September 30, (Dollars in thousands) 2019 $ 10,228 2020 14 2021 15 2022 14 2023 6 Thereafter 245,000 $ 255,277
Term Loan B [Member]
Repayments of Term Loan B	The following payments or prepayments of the Term Loan B were made during the year ended December 31, 2016 and through the date of the termination, including interest through the payment date as follows: Date Principal Paid Unamortized Discount (Dollars in Thousands) May 19, 2017 $ 258,000 $ 550 February 28, 2017 3,000 6 January 30, 2017 2,000 5 December 30, 2016 5,000 12 November 30, 2016 1,000 3 September 30, 2016 1,500 4 September 30, 2016 750 — June 30, 2016 441 1 June 30, 2016 750 — March 31, 2016 750 — March 17, 2016 809 2

Stock Incentive Plan (Tables)

Stock Incentive Plan (Tables)	9 Months Ended
	Sep. 30, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Schedule of Stock-Based Compensation Expense Recognized	The following table reflects the components of stock-based compensation expense recognized in the Condensed Consolidated Statements of Operations for the three and nine month periods ended September 30, 2018 and 2017: Three Months Ended September 30, Nine Months Ended September 30, 2017 2018 2017 2018 (Dollars in thousands) (Dollars in thousands) Stock option compensation expense included in unallocated corporate expenses $ 27 $ 120 $ 126 $ 220 Restricted stock shares compensation expense included in unallocated corporate expenses 225 — 1,100 — Stock option compensation expense included in broadcast operating expenses 7 40 41 82 Restricted stock shares compensation expense included in broadcast operating expenses — — 224 — Stock option compensation expense included in digital media operating expenses 6 27 25 50 Restricted stock shares compensation expense included in digital media operating expenses — — 124 — Stock option compensation expense included in publishing operating expenses 3 4 17 11 Restricted stock shares compensation expense included in publishing operating expenses — — 36 — Total stock-based compensation expense, pre-tax $ 268 $ 191 $ 1,693 $ 363 Tax expense for stock-based compensation expense (107 ) (49 ) (677 ) (94 ) Total stock-based compensation expense, net of tax $ 161 $ 142 $ 1,016 $ 269
Schedule of Weighted-Average Assumptions Used to Estimate Fair Value of Stock Options and Restricted Stock Awards using Black-Scholes Option Valuation Model	The weighted-average assumptions used to estimate the fair value of the stock options using the Black-Scholes valuation model were as follows for the three and nine month periods ended September 30, 2018: Three Months Ended Nine Months Ended Expected volatility — 41.84 % Expected dividends — 7.89 % Expected term (in years) — 7.4 Risk-free interest rate — 2.93 %
Schedule of Stock Option Activity	Activity with respect to the company’s option awards during the nine month period ended September 30, 2018 is as follows: Options Shares Weighted Average Weighted Average Weighted Average Aggregate (Dollars in thousands, except weighted average exercise price and weighted average grant date fair value) Outstanding at January 1, 2018 1,428,462 $ 5.20 $ 2.96 3.7 years $ 653 Granted 650,000 3.30 1.86 Exercised (17,615 ) 2.49 2.11 $ 35 Forfeited or expired (71,375 ) 4.42 3.20 $ 28 Outstanding at September 30, 2018 1,989,472 $ 4.63 $ 2.60 4.3 years $ 312 Exercisable at September 30, 2018 1,055,716 $ 5.51 $ 3.38 2.5 years $ 179 Expected to Vest 886,601 $ 4.65 $ 2.62 4.3 years $ 128

Equity Transactions (Tables)

Equity Transactions (Tables)	9 Months Ended
	Sep. 30, 2018
Federal Home Loan Banks [Abstract]
Schedule of Cash Distributions Declared and Paid	The following table shows distributions that have been declared and paid since January 1, 2017: Announcement Date Payment Date Amount Per Share Cash Distributed in thousands September 5, 2018 September 28, 2018 $ 0.0650 $ 1,702 May 31, 2018 June 29, 2018 $ 0.0650 $ 1,701 February 28, 2018 March 28, 2018 $ 0.0650 $ 1,701 December 7, 2017 December 29, 2017 $ 0.0650 $ 1,701 September 12, 2017 September 29, 2017 $ 0.0650 $ 1,701 June 1, 2017 June 30, 2017 $ 0.0650 $ 1,697 March 9, 2017 March 31, 2017 $ 0.0650 $ 1,691

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2018
Fair Value Disclosures [Abstract]
Fair Value of Financial Assets and Liabilities Measured at Fair Value	The following table summarizes the fair value of our financial assets and liabilities that are measured at fair value: September 30, 2018 Carrying Value Fair Value Measurement Category Level 1 Level 2 Level 3 (Dollars in thousands) Assets Estimated fair value of assets held for sale $ 1,375 $ — $ — $ 1,375 Estimated fair value of other indefinite-lived intangible assets 313 — — 313 Liabilities: Estimated fair value of contingent earn-out 51 — — 51 Long-term debt and capital lease obligations less unamortized debt issuance costs 250,410 — 221,113 —

Segment Data (Tables)

Segment Data (Tables)	9 Months Ended
	Sep. 30, 2018
Segment Reporting [Abstract]
Schedule of Segment Data	The table below presents financial information for each operating segment as of September 30, 2018 and 2017: Broadcast Digital Publishing Unallocated Consolidated (Dollars in thousands) Three Months Ended September 30, 2018 Net revenue $ 48,812 $ 10,397 $ 6,319 $ — $ 65,528 Operating expenses 37,158 8,021 6,210 3,987 55,376 Net operating income (loss) before depreciation, amortization and net loss on the disposition of assets $ 11,654 $ 2,376 $ 109 $ (3,987 ) $ 10,152 Depreciation 1,923 777 128 204 3,032 Amortization 9 1,370 225 — 1,604 Net loss on the disposition of assets (759 ) — — — (759 ) Net operating income (loss) $ 10,481 $ 229 $ (244 ) $ (4,191 ) $ 6,275 Three Months Ended September 30, 2017 Net revenue $ 48,424 $ 10,446 $ 6,563 $ — $ 65,433 Operating expenses 37,040 8,169 6,686 4,233 56,128 Net operating income (loss) before depreciation, amortization, change in the estimated fair value of contingent earn-out $ 11,384 $ 2,277 $ (123 ) $ (4,233 ) $ 9,305 Depreciation 1,920 792 159 211 3,082 Amortization 11 860 264 — 1,135 Change in the estimated fair value of contingent earn-out — (12 ) — — (12 ) Net gain on the disposition of assets 97 — — (2 ) 95 Net operating income (loss) $ 9,356 $ 637 $ (546 ) $ (4,442 ) $ 5,005 Broadcast Digital Publishing Unallocated Consolidated (Dollars in thousands) Nine Months Ended September 30, 2018 Net revenue $ 147,425 $ 31,051 $ 17,119 $ — $ 195,595 Operating expenses 110,151 24,792 17,319 11,938 164,200 Net operating income (loss) before depreciation, amortization and net loss on the disposition of assets $ 37,274 $ 6,259 $ (200 ) $ (11,938 ) $ 31,395 Depreciation 5,692 2,346 388 650 9,076 Amortization 29 3,818 710 1 4,558 Change in the estimated fair value of contingent earn-out — 72 — — 72 Net loss on the disposition of assets 4,400 — — — 4,400 Net operating income (loss) $ 27,153 $ 23 $ (1,298 ) $ (12,589 ) $ 13,289 Nine Months Ended September 30, 2017 Net revenue $ 145,479 $ 31,998 $ 19,048 $ — $ 196,525 Operating expenses 108,807 25,241 18,705 13,183 165,936 Net operating income (loss) before depreciation, amortization, change in the estimated fair value of contingent earn-out $ 36,672 6,757 $ 343 $ (13,183 ) $ 30,589 Depreciation 5,668 2,389 515 599 9,171 Amortization 46 2,494 879 1 3,420 Change in the estimated fair value of contingent earn-out — (54 ) — — (54 ) Impairment of indefinite-lived long-term assets other than goodwill — — 19 — 19 Net gain on the disposition of assets (399 ) — (9 ) (2 ) (410 ) Net operating income (loss) $ 31,357 $ 1,928 $ (1,061 ) $ (13,781 ) $ 18,443 Broadcast Digital Publishing Unallocated Consolidated (Dollars in thousands) As of September 30, 2018 Inventories, net $ — $ 336 $ 555 $ — $ 891 Property and equipment, net 81,552 6,442 1,000 7,718 96,712 Broadcast licenses 379,182 — — — 379,182 Goodwill 2,960 21,933 1,888 8 26,789 Other indefinite-lived intangible assets — — 313 — 313 Amortizable intangible assets, net 312 10,347 2,237 3 12,899 As of December 31, 2017 Inventories, net $ — $ 313 $ 417 $ — $ 730 Property and equipment, net 83,901 6,173 1,281 8,125 99,480 Broadcast licenses 380,914 — — — 380,914 Goodwill 3,581 20,947 1,888 8 26,424 Other indefinite-lived intangible assets — — 313 — 313 Amortizable intangible assets, net 351 9,801 2,947 5 13,104

Basis of Presentation and Sig_4

Basis of Presentation and Significant Accounting Policies - Additional Information (Detail) $ in Millions	Sep. 30, 2018USD ($)
Accounting Policies [Abstract]
Prepaid commission expense	$ 0.7

Basis of Presentation and Sig_5

Basis of Presentation and Significant Accounting Policies - Significant Changes in Our Contract Liabilities (Detail) $ in Thousands	9 Months Ended
	Sep. 30, 2018USD ($)
Change in Contract with Customer, Liability [Abstract]
Short Term, Balance, beginning of period	$ 12,763
Short Term, Revenue recognized during the period that was included in the beginning balance of contract liabilities	(6,864)
Short Term, Additional amounts recognized during the period	16,448
Short Term, Revenue recognized during the period that was recorded during the period	(10,971)
Short Term, Transfers	972
Short Term, Balance, end of period	12,348
Short Term, Amount refundable at beginning of period	12,450
Short Term, Amount refundable at end of period	12,221
Long-Term, Balance, beginning of period	1,951
Long-Term, Revenue recognized during the period that was included in the beginning balance of contract liabilities	0
Long-Term, Additional amounts recognized during the period	574
Long-Term, Revenue recognized during the period that was recorded during the period	0
Long-Term, Transfers	(972)
Long-Term, Balance, end of period	1,553
Long-Term, Amount refundable at beginning of period	1,677
Long-Term, Amount refundable at end of period	$ 1,553

Basis of Presentation and Sig_6

Basis of Presentation and Significant Accounting Policies - Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction (Detail) $ in Thousands	Sep. 30, 2018USD ($)
Disaggregation of Revenue [Line Items]
Revenue, Remaining Performance Obligation	$ 13,901
2019 [Member]
Disaggregation of Revenue [Line Items]
Revenue, Remaining Performance Obligation	$ 12,348
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction	1 year
2020 [Member]
Disaggregation of Revenue [Line Items]
Revenue, Remaining Performance Obligation	$ 719
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction	1 year
2021 [Member]
Disaggregation of Revenue [Line Items]
Revenue, Remaining Performance Obligation	$ 354
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction	1 year
2022 [Member]
Disaggregation of Revenue [Line Items]
Revenue, Remaining Performance Obligation	$ 177
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction	1 year
2023 [Member]
Disaggregation of Revenue [Line Items]
Revenue, Remaining Performance Obligation	$ 101
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction	1 year
Thereafter [Member]
Disaggregation of Revenue [Line Items]
Revenue, Remaining Performance Obligation	$ 202

Basis of Presentation and Sig_7

Basis of Presentation and Significant Accounting Policies - Trade and Barter Transactions Expenses (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Broadcast [Member]
Revenue Recognition [Line Items]
Advertising Barter Transactions, Advertising Barter Revenue	$ 1,384	$ 1,580	$ 4,915	$ 4,105
Advertising Barter Transactions, Advertising Barter Costs	1,458	1,663	4,211	3,928
Digital Media [Member]
Revenue Recognition [Line Items]
Advertising Barter Transactions, Advertising Barter Revenue			93
Advertising Barter Transactions, Advertising Barter Costs	3		3
Publishing [Member]
Revenue Recognition [Line Items]
Advertising Barter Transactions, Advertising Barter Revenue	3	7	10	47
Advertising Barter Transactions, Advertising Barter Costs	$ 7	$ 1	$ 9	$ 84

Basis of Presentation and Sig_8

Basis of Presentation and Significant Accounting Policies - Reconciliation of Revenue from Segments to Consolidated (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Disaggregation of Revenue [Line Items]
Revenue, Net	$ 65,528	$ 65,433	$ 195,595	$ 196,525
Block Programming National [Member]
Disaggregation of Revenue [Line Items]
Revenue, Net			37,318
Block Programming Local [Member]
Disaggregation of Revenue [Line Items]
Revenue, Net			24,643
Spot Advertising - National [Member]
Disaggregation of Revenue [Line Items]
Revenue, Net			12,126
Spot Advertising - Local [Member]
Disaggregation of Revenue [Line Items]
Revenue, Net			41,224
Infomercials [Member]
Disaggregation of Revenue [Line Items]
Revenue, Net			1,464
Network [Member]
Disaggregation of Revenue [Line Items]
Revenue, Net			14,501
Digital Advertising [Member]
Disaggregation of Revenue [Line Items]
Revenue, Net			21,269
Digital Streaming [Member]
Disaggregation of Revenue [Line Items]
Revenue, Net			3,900
Digital Downloads and eBooks [Member]
Disaggregation of Revenue [Line Items]
Revenue, Net			4,877
Subscriptions [Member]
Disaggregation of Revenue [Line Items]
Revenue, Net			7,540
Book Sales and e-commerce [Member]
Disaggregation of Revenue [Line Items]
Revenue, Net			11,566
Self-Publishing fees [Member]
Disaggregation of Revenue [Line Items]
Revenue, Net			4,231
Advertising Print [Member]
Disaggregation of Revenue [Line Items]
Revenue, Net			490
Other Revenues [Member]
Disaggregation of Revenue [Line Items]
Revenue, Net			10,446
Transferred at Point in Time [Member]
Disaggregation of Revenue [Line Items]
Revenue, Net			193,934
Rental Income [Member]
Disaggregation of Revenue [Line Items]
Revenue, Net			1,661
Broadcast [Member]
Disaggregation of Revenue [Line Items]
Revenue, Net			147,425
Broadcast [Member] | Block Programming National [Member]
Disaggregation of Revenue [Line Items]
Revenue, Net			37,318
Broadcast [Member] | Block Programming Local [Member]
Disaggregation of Revenue [Line Items]
Revenue, Net			24,643
Broadcast [Member] | Spot Advertising - National [Member]
Disaggregation of Revenue [Line Items]
Revenue, Net			12,126
Broadcast [Member] | Spot Advertising - Local [Member]
Disaggregation of Revenue [Line Items]
Revenue, Net			41,224
Broadcast [Member] | Infomercials [Member]
Disaggregation of Revenue [Line Items]
Revenue, Net			1,464
Broadcast [Member] | Network [Member]
Disaggregation of Revenue [Line Items]
Revenue, Net			14,501
Broadcast [Member] | Digital Advertising [Member]
Disaggregation of Revenue [Line Items]
Revenue, Net			4,764
Broadcast [Member] | Digital Streaming [Member]
Disaggregation of Revenue [Line Items]
Revenue, Net			584
Broadcast [Member] | Subscriptions [Member]
Disaggregation of Revenue [Line Items]
Revenue, Net			789
Broadcast [Member] | Book Sales and e-commerce [Member]
Disaggregation of Revenue [Line Items]
Revenue, Net			360
Broadcast [Member] | Advertising Print [Member]
Disaggregation of Revenue [Line Items]
Revenue, Net			36
Broadcast [Member] | Other Revenues [Member]
Disaggregation of Revenue [Line Items]
Revenue, Net			9,616
Broadcast [Member] | Transferred at Point in Time [Member]
Disaggregation of Revenue [Line Items]
Revenue, Net			145,892
Broadcast [Member] | Rental Income [Member]
Disaggregation of Revenue [Line Items]
Revenue, Net			1,533
Digital Media [Member]
Disaggregation of Revenue [Line Items]
Revenue, Net			31,051
Digital Media [Member] | Digital Advertising [Member]
Disaggregation of Revenue [Line Items]
Revenue, Net			16,159
Digital Media [Member] | Digital Streaming [Member]
Disaggregation of Revenue [Line Items]
Revenue, Net			3,316
Digital Media [Member] | Digital Downloads and eBooks [Member]
Disaggregation of Revenue [Line Items]
Revenue, Net			3,722
Digital Media [Member] | Subscriptions [Member]
Disaggregation of Revenue [Line Items]
Revenue, Net			6,052
Digital Media [Member] | Book Sales and e-commerce [Member]
Disaggregation of Revenue [Line Items]
Revenue, Net			1,533
Digital Media [Member] | Other Revenues [Member]
Disaggregation of Revenue [Line Items]
Revenue, Net			269
Digital Media [Member] | Transferred at Point in Time [Member]
Disaggregation of Revenue [Line Items]
Revenue, Net			30,969
Digital Media [Member] | Rental Income [Member]
Disaggregation of Revenue [Line Items]
Revenue, Net			82
Publishing [Member]
Disaggregation of Revenue [Line Items]
Revenue, Net			17,119
Publishing [Member] | Digital Advertising [Member]
Disaggregation of Revenue [Line Items]
Revenue, Net			346
Publishing [Member] | Digital Downloads and eBooks [Member]
Disaggregation of Revenue [Line Items]
Revenue, Net			1,155
Publishing [Member] | Subscriptions [Member]
Disaggregation of Revenue [Line Items]
Revenue, Net			699
Publishing [Member] | Book Sales and e-commerce [Member]
Disaggregation of Revenue [Line Items]
Revenue, Net			9,673
Publishing [Member] | Self-Publishing fees [Member]
Disaggregation of Revenue [Line Items]
Revenue, Net			4,231
Publishing [Member] | Advertising Print [Member]
Disaggregation of Revenue [Line Items]
Revenue, Net			454
Publishing [Member] | Other Revenues [Member]
Disaggregation of Revenue [Line Items]
Revenue, Net			561
Publishing [Member] | Transferred at Point in Time [Member]
Disaggregation of Revenue [Line Items]
Revenue, Net			17,073
Publishing [Member] | Rental Income [Member]
Disaggregation of Revenue [Line Items]
Revenue, Net			$ 46

Impairment of Goodwill and Ot_3

Impairment of Goodwill and Other Indefinite-Lived Intangible Assets - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended	9 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Goodwill And Other Intangible Assets [Line Items]
Percentage of intangible assets			71.00%
Impairment of intangible assets, indefinite-lived (Excluding goodwill)		$ 19	$ 0	$ 19
Omaha Market Cluster [Member]
Goodwill And Other Intangible Assets [Line Items]
Percentage by which fair value exceeds carrying amount	7.00%
Broadcast Licenses [Member]
Goodwill And Other Intangible Assets [Line Items]
Percentage of indefinite lived intangible assets			93.00%
Goodwill and Mastheads [Member]
Goodwill And Other Intangible Assets [Line Items]
Percentage of indefinite lived intangible assets			7.00%

Impairment of Goodwill and Ot_4

Impairment of Goodwill and Other Indefinite-Lived Intangible Assets - Fair Value Measurement Inputs and Valuation Techniques (Detail) - Broadcast Licenses [Member]	Sep. 30, 2018
Measurement Input, Long-term Revenue Growth Rate [Member]
Goodwill And Other Intangible Assets [Line Items]
Derivative asset measurement input percentage	1.9
Measurement Input, Risk-adjusted Discount Rate [Member]
Goodwill And Other Intangible Assets [Line Items]
Derivative asset measurement input percentage	9
Minimum [Member] | Measurement Input, Operating Profit Margin [Member]
Goodwill And Other Intangible Assets [Line Items]
Derivative asset measurement input percentage	(13.9)
Maximum [Member] | Measurement Input, Operating Profit Margin [Member]
Goodwill And Other Intangible Assets [Line Items]
Derivative asset measurement input percentage	30.8

Impairment of Long-Lived Asse_2

Impairment of Long-Lived Assets - Additional Information (Detail) - USD ($)	3 Months Ended			9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Mar. 31, 2017	Sep. 30, 2018	Sep. 30, 2017
Impairment Of Long Lived Assets [Line Items]
Impairment of long-lived assets				$ 0
Amortization of intangibles	$ 1,600,000	$ 1,100,000		$ 4,600,000	$ 3,400,000
Adjustment To Fully Amortized Assets [Member]
Impairment Of Long Lived Assets [Line Items]
Impairment charges land held for sale			$ 1,900,000
Amortization of intangibles			$ 1,900,000

Acquisitions and Recent Transac

Acquisitions and Recent Transactions - Additional Information (Detail) - USD ($)	Sep. 28, 2018	Sep. 11, 2018	Sep. 05, 2018	Aug. 28, 2018	Aug. 09, 2018	Aug. 07, 2018	Jul. 25, 2018	Jun. 29, 2018	Jun. 25, 2018	May 31, 2018	May 04, 2018	Apr. 19, 2018	Apr. 10, 2018	Apr. 09, 2018	Mar. 28, 2018	Feb. 28, 2018	Aug. 06, 2018	Jul. 24, 2018	Jun. 20, 2018	May 24, 2018	Apr. 30, 2018	Jun. 30, 2018	Sep. 30, 2018	Sep. 30, 2017	Jul. 23, 2018	Dec. 31, 2017	May 19, 2017	Dec. 31, 2016
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Debt instrument, interest rate, stated percentage																							4.58%
Common stock, equity distributions, per share, declared			$ 0.0650							$ 0.0650						$ 0.0650
Payments of equity distributions, common stock	$ 1,700,000							$ 1,700,000							$ 1,700,000								$ 5,104,000	$ 5,089,000
Business Combination, Consideration Transferred																							11,180,000
Goodwill																							26,789,000			$ 26,424,000		$ 25,613,000
Business combination, consideration transferred																							4,320,000	1,690,000
Business combination acquisition related costs																							200,000	100,000
Proceeds from sale of assets																							8,518,000	$ 602,000
Proceeds from sale of property, plant, and equipment																				$ 800,000
Agreement to sell assets in cash																				1,000,000
Gain (loss) on disposition of assets																				$ 200,000
Time Brokerage Agreement [Member]
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Business combination, consideration transferred																					$ 1,200,000
Fee for not exercising purchase option																					$ 100,000
HearItFirst.com (Asset Purchase) [Member]
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Business Combination, Consideration Transferred												$ 70,000											$ 70,000
KTRB-AM [Member]
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Payment for asset acquisition		$ 5,100,000
Transaction costs related to asset acquisition		$ 200,000
Hilary Kramer Financial Newsletter [Member]
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Business Combination, Consideration Transferred					$ 2,000,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, deferred subscription liabilities					1,500,000
Payments to acquire businesses, gross					400,000
Additional contingent earnout consideration paid					100,000
Business combination, liabilities arising from contingencies, amount recognized					40,617
Business combination liabilities arising from contingencies amount recognized discounted present value					39,360
Goodwill					$ 300,000
Just1Word [Member]
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Business combination, liabilities arising from contingencies, amount recognized						$ 12,750
Business combination liabilities arising from contingencies amount recognized discounted present value						12,212
Business acquisition cost of acquired entity cash paid net						300,000
Business combination, contingent consideration arrangements payment						$ 100,000
KZTS-AM [Member]
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Payment for asset acquisition							$ 200,000
Transaction costs related to asset acquisition							$ 30,000
Childrens Ministry Dealscom Website [Member]
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Payments to acquire businesses, gross																		$ 3,500,000
Goodwill																		700,000
Business combination, consideration transferred																		3,700,000
Payment up on fulfillments of certain post-closing requirements																		$ 200,000
Business combination cash consideration description																		$0.2 million in cash within twelve months from the closing date provided that the seller meet certain post-closing requirements with regard to intellectual property.
KGBIFM [Member]
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Proceeds from sale of assets																	$ 3,200,000
Gain (loss) on disposition of assets																	$ (2,400,000)					$ (3,200,000)
KDXE-FM [Member]
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Business Combination, Consideration Transferred									$ 1,100,000
Goodwill									$ 7,400
WQVN-AM [Member]
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Proceeds from sale of assets				$ 3,500,000
Gain (loss) on disposition of assets				$ (4,700,000)
WBIX-AM [Member]
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Proceeds from sale of assets																			$ 700,000
Gain (loss) on disposition of assets																			$ 200,000
KCRO-AM and KOTK-AM [Member]
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Gain (loss) on disposition of assets																						$ (1,600,000)
Agreement to sell assets in cash																									$ 1,400,000
Senior Secured Debt [Member]
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Debt repurchased											$ 4,000,000		$ 4,000,000	$ 2,000,000
Debt instrument, interest rate, stated percentage											6.75%		6.75%	6.75%									6.75%				6.75%
Repayments of long-term debt											$ 3,800,000		$ 3,900,000	$ 1,900,000
Debt instrument, redemption price, percentage of principal amount redeemed											94.25%		96.25%	96.50%
Gain (Loss) on repurchase of debt instrument											$ 100,000		$ 63,000	$ 27,000

Acquisitions and Recent Trans_2

Acquisitions and Recent Transactions - Summary of Business Acquisitions and Asset Purchased (Detail) - USD ($)	Apr. 19, 2018	Sep. 30, 2018
Acquisition Date [Line Items]
Business Combination, Consideration Transferred		$ 11,180,000
KTRB-AM, San Francisco, California (Asset Purchase) [Member]
Acquisition Date [Line Items]
Business Combination, Consideration Transferred		$ 5,349,000
Business Acquisition, Effective Date of Acquisition		Sep. 11, 2018
Hilary Kramer Financial Newsletter (Business Acquisition) [Member]
Acquisition Date [Line Items]
Business Combination, Consideration Transferred		$ 439,000
Business Acquisition, Effective Date of Acquisition		Aug. 9, 2018
Just1Word (Business Acquisition) [Member]
Acquisition Date [Line Items]
Business Combination, Consideration Transferred		$ 312,000
Business Acquisition, Effective Date of Acquisition		Aug. 7, 2018
KZTS-AM (formerly KDXE-AM), Little Rock, Arkansas (asset purchase) [Member]
Acquisition Date [Line Items]
Business Combination, Consideration Transferred		$ 210,000
Business Acquisition, Effective Date of Acquisition		Jul. 25, 2018
Childrens-Ministry-Deals.com (Business Acquisition) [Member]
Acquisition Date [Line Items]
Business Combination, Consideration Transferred		$ 3,700,000
Business Acquisition, Effective Date of Acquisition		Jul. 24, 2018
KDXE-FM (Formerly KZTS-FM), Little Rock, Arkansas (Business Acquisition) [Member]
Acquisition Date [Line Items]
Business Combination, Consideration Transferred		$ 1,100,000
Business Acquisition, Effective Date of Acquisition		Jun. 25, 2018
HearItFirst.com (Asset Purchase) [Member]
Acquisition Date [Line Items]
Business Combination, Consideration Transferred	$ 70,000	$ 70,000
Business Acquisition, Effective Date of Acquisition		Apr. 19, 2018

Acquisitions and Recent Trans_3

Acquisitions and Recent Transactions - Summary of Total Acquisition Consideration (Detail) $ in Thousands	Sep. 30, 2018USD ($)
Business Combination, Consideration Transferred [Abstract]
Cash payments made upon closing	$ 10,854
Deferred payments	150
Present value of estimated fair value of contingent earn-out consideration	51
Closing costs accrued for asset acquisitions	125
Total purchase price consideration	$ 11,180

Acquisitions and Recent Trans_4

Acquisitions and Recent Transactions - Total acquisition consideration allocated (Detail) - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017	Dec. 31, 2016
Assets
Property and equipment	$ 1,086
Broadcast licenses	6,281
Goodwill	26,789	$ 26,424	$ 25,613
Customer lists and contracts	1,882
Domain and brand names	1,252
Subscriber base and lists	875
Non-compete agreements	19
Other amortizable intangible assets	334
Net assets acquired	12,722
Liabilities
Contract liabilities, long-term	(1,542)
Total purchase price consideration	11,180
Broadcast [Member]
Assets
Property and equipment	371
Broadcast licenses	6,281
Goodwill	7
Net assets acquired	6,659
Liabilities
Total purchase price consideration	6,659
Digital Media [Member]
Assets
Property and equipment	715
Goodwill	986
Customer lists and contracts	1,882
Domain and brand names	1,252
Subscriber base and lists	875
Non-compete agreements	19
Other amortizable intangible assets	334
Net assets acquired	6,063
Liabilities
Contract liabilities, long-term	(1,542)
Total purchase price consideration	$ 4,521

Contingent Earn-Out Considera_2

Contingent Earn-Out Consideration - Additional Information (Detail) - USD ($)

Aug. 09, 2018

Aug. 07, 2018

Jun. 08, 2017

May 06, 2017

May 06, 2015

Feb. 06, 2015

Jul. 06, 2017

Sep. 30, 2017

Jun. 30, 2018

Sep. 30, 2018

Sep. 30, 2017

Jun. 30, 2017

Dec. 31, 2017

Feb. 06, 2017

Sep. 13, 2017

Sep. 13, 2016

Business Acquisition, Contingent Consideration [Line Items]

Business combination, contingent consideration arrangements, change in amount of contingent consideration, liability

$ (12,000)

$ 72,000

$ (54,000)

Portuguese Bible Mobile Application [Member]

Business Acquisition, Contingent Consideration [Line Items]

Business acquisition cost of acquired entity cash paid net

$ 65,000

Business combination, contingent consideration arrangements payment

$ 15,000

Business combination liabilities arising from contingencies amount recognized discounted present value

16,500

Business combination, contingent consideration arrangements, change in amount of contingent consideration, liability

(3,200)

$ 1,700

Business combination, contingent consideration arrangements payment

$ 20,000

TradersCrux com [Member]

Business Acquisition, Contingent Consideration [Line Items]

Business acquisition cost of acquired entity cash paid net

$ 300,000

Business combination, contingent consideration arrangements payment

100,000

125,000

Business combination, liabilities arising from contingencies, amount recognized

18,750

Business acquisition contingent earn out consideration payable

$ 100,000

Business combination, contingent consideration arrangements, change in amount of contingent consideration, liability

$ 75,000

31,000

Turner Investment Products [Member]

Business Acquisition, Contingent Consideration [Line Items]

Business acquisition cost of acquired entity cash paid net

$ 400,000

Business combination, liabilities arising from contingencies, amount recognized

$ 0

66,000

Business combination, contingent consideration arrangements payment

$ 100,000

Daily Bible Devotion (business acquisition) [Member]

Business Acquisition, Contingent Consideration [Line Items]

Business acquisition cost of acquired entity cash paid net

$ 1,100,000

Business combination, contingent consideration arrangements payment

75,000

Business combination, liabilities arising from contingencies, amount recognized

165,000

Business combination liabilities arising from contingencies amount recognized discounted present value

142,000

Business combination, contingent consideration arrangements, change in amount of contingent consideration, liability

$ (4,000)

Business combination, contingent consideration arrangements payment

$ 300,000

Bryan Perry Newsletters (business acquisition) [Member]

Business Acquisition, Contingent Consideration [Line Items]

Business combination, contingent consideration arrangements payment

$ 14,000

$ 91,000

Business combination liabilities arising from contingencies amount recognized discounted present value

$ 158,000

Business combination, contingent consideration arrangements, change in amount of contingent consideration, liability

$ 1,000

Contingent earn out consideration due to seller net subscriber revenues percentage

50.00%

Business combination, contingent consideration, liability

$ 171,000

Hilary Kramer Financial Newsletters [Member]

Business Acquisition, Contingent Consideration [Line Items]

Business acquisition cost of acquired entity cash paid net

$ 400,000

Business combination, contingent consideration arrangements payment

100,000

Business combination, liabilities arising from contingencies, amount recognized

40,617

0

Business combination liabilities arising from contingencies amount recognized discounted present value

39,360

Business acquisition contingent earn out consideration payable

$ 100,000

Just1Word Mobile Application [Member]

Business Acquisition, Contingent Consideration [Line Items]

Business acquisition cost of acquired entity cash paid net

$ 300,000

Business combination, contingent consideration arrangements payment

100,000

Business combination, liabilities arising from contingencies, amount recognized

12,750

$ 0

Business combination liabilities arising from contingencies amount recognized discounted present value

12,212

Business acquisition contingent earn out consideration payable

$ 100,000

Inventories - Schedule of Inven

Inventories - Schedule of Inventory on Hand by Segment (Detail) - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
Inventory [Line Items]
Reserve for obsolescence	$ (796)	$ (1,657)
Inventories, net	891	730
Regnery Publishing [Member]
Inventory [Line Items]
Inventories, gross	1,341	2,038
Reserve for obsolescence	(786)	(1,621)
Inventories, net	555	417
Wellness Products [Member]
Inventory [Line Items]
Inventories, gross	346	349
Reserve for obsolescence	(10)	(36)
Inventories, net	$ 336	$ 313

Broadcast Licenses - Schedule o

Broadcast Licenses - Schedule of Changes in Broadcasting Licenses (Detail) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2018	Dec. 31, 2017
Indefinite-lived Intangible Assets [Line Items]
Balance, beginning of period before cumulative loss on impairment	$ 486,455	$ 494,058
Accumulated loss on impairment, Beginning Balance	(105,541)	(105,541)
Balance, beginning of period after cumulative loss on impairment	380,914	388,517
Capital projects to improve broadcast signal and strength		5
Balance, end of period before cumulative loss on impairment	484,723	486,455
Accumulated loss on impairment, Ending Balance	(105,541)	(105,541)
Balance, end of period after cumulative loss on impairment	379,182	380,914
Radio Stations [Member]
Indefinite-lived Intangible Assets [Line Items]
Acquisitions of FM translators and construction permits	6,270	191
Dispositions of radio stations	(8,013)	(7,997)
FM Translators [Member]
Indefinite-lived Intangible Assets [Line Items]
Acquisitions of FM translators and construction permits	$ 11	$ 198

Goodwill - Schedule of Changes

Goodwill - Schedule of Changes in Goodwill (Detail) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2018	Dec. 31, 2017
Goodwill [Line Items]
Balance, beginning of period before cumulative loss on impairment	$ 28,453	$ 27,642
Beginning Balance, Accumulated loss on impairment	(2,029)	(2,029)
Balance, beginning of period after cumulative loss on impairment	26,424	25,613
Balance, end of period before cumulative loss on impairment	28,818	28,453
Ending Balance, Accumulated loss on impairment	(2,029)	(2,029)
Ending period balance	26,789	26,424
Radio Stations [Member]
Goodwill [Line Items]
Acquisitions	7	14
Goodwill, Written off Related to Sale of Business Unit	(628)
FM Translators [Member]
Goodwill [Line Items]
Acquisitions	$ 986	810
Broadcast Business [Member]
Goodwill [Line Items]
Goodwill, Written off Related to Sale of Business Unit		$ (13)

Property and Equipment - Summar

Property and Equipment - Summary of Categories of Property and Equipment (Detail) - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross, Total	$ 264,646	$ 264,200
Less accumulated depreciation	(167,934)	(164,720)
Property, Plant and Equipment, Net, Total	96,712	99,480
Land [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross, Total	31,686	32,320
Building [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross, Total	28,942	28,962
Office Furnishings and Equipment [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross, Total	36,079	37,583
Office Furnishings and Equipment Under Capital Lease Obligations [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross, Total	207	244
Antennae, Towers and Transmitting Equipment [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross, Total	85,330	85,632
Antennae Towers and Transmitting Equipment Under Capital Lease Obligations [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross, Total		795
Studio, Production and Mobile Equipment [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross, Total	28,959	29,697
Computer Software and Website Development Costs [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross, Total	26,308	24,477
Record and Tape Libraries [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross, Total	21	27
Automobiles [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross, Total	1,572	1,385
Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross, Total	19,383	19,003
Construction in Progress [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross, Total	$ 6,159	$ 4,075

Property and Equipment - Additi

Property and Equipment - Additional Information (Detail) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017	Dec. 31, 2017
Property, Plant and Equipment [Line Items]
Depreciation, total	$ 3,000,000	$ 3,100,000	$ 9,100,000	$ 9,200,000
Accumulated depreciation, depletion and amortization, property, plant, and equipment	167,934,000		167,934,000		$ 164,720,000
Capital Lease [Member]
Property, Plant and Equipment [Line Items]
Depreciation, total	5,000	$ 24,000	48,000	$ 70,000
Accumulated depreciation, depletion and amortization, property, plant, and equipment	$ 200,000		$ 200,000		$ 800,000

Amortizable Intangible Assets -

Amortizable Intangible Assets - Summary of Significant Classes of Amortizable Intangible Assets (Detail) - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
Finite-Lived Intangible Assets [Line Items]
Cost	$ 64,444	$ 60,283
Accumulated Amortization	(51,545)	(47,179)
Net	12,899	13,104
Customer Lists and Contracts [Member]
Finite-Lived Intangible Assets [Line Items]
Cost	24,673	22,865
Accumulated Amortization	(21,498)	(20,888)
Net	3,175	1,977
Domain and Brand Names [Member]
Finite-Lived Intangible Assets [Line Items]
Cost	21,358	20,109
Accumulated Amortization	(16,218)	(14,650)
Net	5,140	5,459
Favorable and Assigned Leases [Member]
Finite-Lived Intangible Assets [Line Items]
Cost	2,256	2,379
Accumulated Amortization	(1,944)	(2,028)
Net	312	351
Subscriber Base and Lists [Member]
Finite-Lived Intangible Assets [Line Items]
Cost	9,672	8,797
Accumulated Amortization	(6,548)	(4,701)
Net	3,124	4,096
Author Relationships [Member]
Finite-Lived Intangible Assets [Line Items]
Cost	2,771	2,771
Accumulated Amortization	(2,416)	(2,237)
Net	355	534
Non-Compete Agreements [Member]
Finite-Lived Intangible Assets [Line Items]
Cost	2,048	2,029
Accumulated Amortization	(1,571)	(1,342)
Net	477	687
Other Amortizable Intangible Assets [Member]
Finite-Lived Intangible Assets [Line Items]
Cost	1,666	1,333
Accumulated Amortization	(1,350)	$ (1,333)
Net	$ 316

Amortizable Intangible Assets_2

Amortizable Intangible Assets - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization of intangible assets	$ 1.6	$ 1.1	$ 4.6	$ 3.4

Amortizable Intangible Assets_3

Amortizable Intangible Assets - Amortizable Intangible Assets, Estimate Amortization Expense (Detail) - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
2018 (Oct - Dec)	$ 1,635
2,019	4,699
2,020	3,275
2,021	1,654
2,022	969
Thereafter	667
Net	$ 12,899	$ 13,104

Long-Term Debt - 6.75% Senior S

Long-Term Debt - 6.75% Senior Secured Notes - Additional Information (Detail) - USD ($)	May 04, 2018	Apr. 10, 2018	Apr. 09, 2018	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017	Dec. 31, 2017	May 19, 2017
Debt Instrument [Line Items]
Debt instrument, interest rate, stated percentage				4.58%		4.58%
Interest expense, debt					$ 0		$ 200,000
Interest payable, current				$ 5,521,000		$ 5,521,000		$ 1,445,000
Debt related commitment fees and debt issuance costs						$ 6,300,000
Debt Instrument Redemption Period Two [Member]
Debt Instrument [Line Items]
Debt instrument, redemption price, percentage of principal amount redeemed						35.00%
Debt instrument, redemption price, percentage						106.75%
Debt Instrument Redemption Period Three [Member]
Debt Instrument [Line Items]
Debt instrument, redemption price, percentage of principal amount redeemed						10.00%
Debt instrument, redemption price, percentage						103.00%
Debt Instrument Redemption Period One [Member]
Debt Instrument [Line Items]
Debt instrument, redemption price, percentage						100.00%
Senior Secured Debt [Member]
Debt Instrument [Line Items]
Debt instrument, interest rate, stated percentage	6.75%	6.75%	6.75%	6.75%		6.75%			6.75%
Debt instrument, redemption price, percentage of principal amount redeemed	94.25%	96.25%	96.50%
Debt instrument, covenant description						The amount of dividends or equity distributions made is not to exceed $2.0 million in any fiscal quarter or $20.0 million in the aggregate, so long as, after giving pro forma effect thereto, the Consolidated Total Debt Ratio would be less than or equal to 6.00 to 1.00.
Debt instrument, debt default, description of violation or event of default						The Indenture provides for the following events of default (each, an “Event of Default”): (i) default in payment of principal or premium on the Notes at maturity, upon repurchase, acceleration, optional redemption or otherwise; (ii) default for 30 days in payment of interest on the Notes; (iii) the failure by us or certain restricted subsidiaries to comply with other agreements in the Indenture or the Notes, in certain cases subject to notice and lapse of time; (iv) the failure of any guarantee by certain significant Subsidiary Guarantors to be in full force and effect and enforceable in accordance with its terms, subject to notice and lapse of time; (v) certain accelerations (including failure to pay within any grace period) of other indebtedness of ours or any restricted subsidiary if the amount accelerated (or so unpaid) is at least $15 million; (vi) certain judgments for the payment of money in excess of $15 million; (vii) certain events of bankruptcy or insolvency with respect to us or any significant subsidiary; and (vii) certain defaults with respect to any collateral having a fair market value in excess of $15 million.
Debt instrument debt default percentage						25.00%
Debt instrument, repurchased face amount	$ 4,000,000	$ 4,000,000	$ 2,000,000
Repayments of long-term debt	3,800,000	3,900,000	1,900,000
Gain (Loss) on repurchase of debt instrument	$ 100,000	$ 63,000	$ 27,000
Interest expense, debt						$ 16,500,000
Interest payable, current				$ 5,500,000		5,500,000
Debt related commitment fees and debt issuance costs				$ 200,000	$ 200,000	$ 700,000	$ 300,000

Long-Term Debt - Asset-Based Re

Long-Term Debt - Asset-Based Revolving Credit Facility - Additional Information (Detail)	May 19, 2017USD ($)	Sep. 30, 2018USD ($)	Sep. 30, 2017USD ($)	Sep. 30, 2018USD ($)	Sep. 30, 2017USD ($)
Debt Instrument [Line Items]
Debt instrument, debt default, description of violation or event of default		$ 245,000,000		$ 245,000,000
Amortization of financing costs				855,000	$ 645,000
Debt related commitment fees and debt issuance costs				$ 6,300,000
Asset-Based Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Debt instrument, debt default, description of violation or event of default	$ 30,000,000
Debt instrument, interest rate, increase (decrease)	2.00%
Line of credit facility, covenant terms				The Credit Agreement includes a springing fixed charge coverage ratio of 1.0 to 1.0, which is tested during the period commencing on the last day of the fiscal month most recently ended prior to the date on which Availability (as defined in the Credit Agreement) is less than the greater of 15% of the Maximum Revolver Amount (as defined in the Credit Agreement) and $4.5 million and continuing for a period of 60 consecutive days after the first day on which Availability exceeds such threshold amount.
Equity distribution				$ 2,000,000
Fixed charge coverage ratio				1
Debt Ratio				6
Debt instrument, covenant description				The amount of dividends or equity distributions made is not to exceed $2.0 million in any fiscal quarter or $20.0 million in the aggregate, so long as, after giving pro forma effect thereto, the Consolidated Total Debt Ratio would be less than or equal to 6.00 to 1.00.
Debt instrument, debt default, description of violation or event of default				The Credit Agreement provides for the following events of default: (i) default for non-payment of any principal or letter of credit reimbursement when due or any interest, fees or other amounts within five days of the due date; (ii) the failure by any borrower or any subsidiary to comply with any covenant or agreement contained in the Credit Agreement or any other loan document, in certain cases subject to applicable notice and lapse of time; (iii) any representation or warranty made pursuant to the Credit Agreement or any other loan document is incorrect in any material respect when made; (iv) certain defaults of other indebtedness of any borrower or any subsidiary of indebtedness of at least $10 million; (v) certain events of bankruptcy or insolvency with respect to any borrower or any subsidiary; (vi) certain judgments for the payment of money of $10 million or more; (vii) a change of control; and (viii) certain defaults relating to the loss of FCC licenses, cessation of broadcasting and termination of material station contracts.
Aggregate indebtedness		10,000,000		$ 10,000,000
Amortization of financing costs				700,000
Debt related commitment fees and debt issuance costs		$ 53,000	$ 63,000	$ 200,000	$ 86,000
Debt instrument blended interest rate		4.02%		4.02%
Asset-Based Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Debt instrument, debt default, description of violation or event of default	$ 30,000,000
Debt instrument, interest rate, increase (decrease)	2.00%
Asset-Based Revolving Credit Facility [Member] | Letter of Credit [Member]
Debt Instrument [Line Items]
Debt instrument, debt default, description of violation or event of default	$ 5,000,000
Asset-Based Revolving Credit Facility [Member] | Swingline Credit Facility [Member]
Debt Instrument [Line Items]
Debt instrument, debt default, description of violation or event of default	$ 7,500,000
Minimum [Member] | Asset-Based Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Line of credit facility, unused capacity, commitment fee percentage	0.25%
Minimum [Member] | Asset-Based Revolving Credit Facility [Member] | Base Rate [Member]
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	0.50%			0.50%
Minimum [Member] | Asset-Based Revolving Credit Facility [Member] | London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	1.50%			1.50%
Minimum [Member] | Asset-Based Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Line of credit facility, unused capacity, commitment fee percentage	0.25%			0.25%
Minimum [Member] | Asset-Based Revolving Credit Facility [Member] | Base Rate [Member]
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	0.50%
Minimum [Member] | Asset-Based Revolving Credit Facility [Member] | London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	1.50%
Maximum [Member] | Asset-Based Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Line of credit facility, unused capacity, commitment fee percentage	0.375%
Maximum [Member] | Asset-Based Revolving Credit Facility [Member] | Base Rate [Member]
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	1.00%			1.00%
Maximum [Member] | Asset-Based Revolving Credit Facility [Member] | London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	2.00%			2.00%
Maximum [Member] | Asset-Based Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Line of credit facility, unused capacity, commitment fee percentage	0.375%			0.375%
Maximum [Member] | Asset-Based Revolving Credit Facility [Member] | Base Rate [Member]
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	1.00%
Maximum [Member] | Asset-Based Revolving Credit Facility [Member] | London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	2.00%

Long-Term Debt - Prior Term Loa

Long-Term Debt - Prior Term Loan B and Revolving Credit Facility - Additional Information (Detail) - USD ($)	May 19, 2017	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Debt Instrument [Line Items]
Interest expense, debt		$ 0		$ 200,000
Gains (losses) on extinguishment of debt, total			$ 234,000	(2,775,000)
Debt instrument, interest rate, stated percentage			4.58%
Amortization of financing costs			$ 855,000	645,000
Term Loan B [Member]
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity			300,000,000
Senior notes, non-current			298,500,000
Interest expense, debt		0		100,000
Long-term debt, gross	$ 258,000,000
Debt instrument, unamortized discount	600,000
Revolver [Member]
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity			$ 25,000,000
Long-term line of credit, non-current	4,100,000
Gains (losses) on extinguishment of debt, total	2,100,000
Amortization of financing costs		$ 0		$ 26,000
Term Loan B and Revolver [Member]
Debt Instrument [Line Items]
Unamortized debt issuance expense	$ 1,500,000

Long-Term Debt - Repayments of

Long-Term Debt - Repayments of Term Loan B (Detail) - USD ($) $ in Thousands	May 19, 2017	Feb. 28, 2017	Jan. 30, 2017	Dec. 30, 2016	Nov. 30, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Mar. 17, 2016
Term Loan B Payment One [Member]
Debt Instrument [Line Items]
Principal Paid	$ 258,000	$ 3,000	$ 2,000	$ 5,000	$ 1,000	$ 1,500	$ 441	$ 750	$ 809
Unamortized Discount	$ 550	$ 6	$ 5	$ 12	$ 3	4	1		$ 2
Term Loan B Payment Two [Member]
Debt Instrument [Line Items]
Principal Paid						$ 750	$ 750

Long-Term Debt - Long-Term Debt

Long-Term Debt - Long-Term Debt (Detail) - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
Debt Instrument [Line Items]
6.75% Senior Secured Notes	$ 255,277
Long-term Debt	10,200	$ 9,000
Long-term debt and capital lease obligations less unamortized debt issuance costs	250,410	258,688
Less current portion	(10,228)	(9,109)
Long-term debt and capital lease obligations less unamortized debt issuance costs, net of current portion	240,182	249,579
Capital Lease Obligations and Other [Member]
Debt Instrument [Line Items]
6.75% Senior Secured Notes	77	462
Senior Secured Debt [Member]
Debt Instrument [Line Items]
6.75% Senior Secured Notes	245,000	255,000
Less unamortized debt issuance costs based on imputed interest rate of 7.08%	(4,867)	(5,774)
Long-term Debt	$ 240,133	$ 249,226

Long-Term Debt - Summary of Lon

Long-Term Debt - Summary of Long-term Debt Obligations - Additional Information (Detail) - USD ($)	May 19, 2017	Sep. 30, 2018	May 04, 2018	Apr. 10, 2018	Apr. 09, 2018
Shares Issued And Outstanding [Line Items]
Debt instrument, face amount		$ 245,000,000
Debt instrument, interest rate, stated percentage		4.58%
Asset-Based Revolving Credit Facility [Member]
Shares Issued And Outstanding [Line Items]
Debt instrument, face amount	$ 30,000,000
Minimum [Member] | Asset-Based Revolving Credit Facility [Member]
Shares Issued And Outstanding [Line Items]
Line of credit facility, unused capacity, commitment fee percentage	0.25%	0.25%
Minimum [Member] | Asset-Based Revolving Credit Facility [Member] | Base Rate [Member]
Shares Issued And Outstanding [Line Items]
Debt instrument, basis spread on variable rate	0.50%
Minimum [Member] | Asset-Based Revolving Credit Facility [Member] | London Interbank Offered Rate (LIBOR) [Member]
Shares Issued And Outstanding [Line Items]
Debt instrument, basis spread on variable rate	1.50%
Maximum [Member] | Asset-Based Revolving Credit Facility [Member]
Shares Issued And Outstanding [Line Items]
Line of credit facility, unused capacity, commitment fee percentage	0.375%	0.375%
Maximum [Member] | Asset-Based Revolving Credit Facility [Member] | Base Rate [Member]
Shares Issued And Outstanding [Line Items]
Debt instrument, basis spread on variable rate	1.00%
Maximum [Member] | Asset-Based Revolving Credit Facility [Member] | London Interbank Offered Rate (LIBOR) [Member]
Shares Issued And Outstanding [Line Items]
Debt instrument, basis spread on variable rate	2.00%
Senior Secured Debt [Member]
Shares Issued And Outstanding [Line Items]
Debt instrument, interest rate, stated percentage	6.75%	6.75%	6.75%	6.75%	6.75%
Asset-Based Revolving Credit Facility [Member]
Shares Issued And Outstanding [Line Items]
Line of credit, current		$ 10,200,000
Debt instrument, face amount	$ 30,000,000
Asset-Based Revolving Credit Facility [Member] | Minimum [Member]
Shares Issued And Outstanding [Line Items]
Line of credit facility, unused capacity, commitment fee percentage	0.25%
Asset-Based Revolving Credit Facility [Member] | Minimum [Member] | Base Rate [Member]
Shares Issued And Outstanding [Line Items]
Debt instrument, basis spread on variable rate	0.50%	0.50%
Asset-Based Revolving Credit Facility [Member] | Minimum [Member] | London Interbank Offered Rate (LIBOR) [Member]
Shares Issued And Outstanding [Line Items]
Debt instrument, basis spread on variable rate	1.50%	1.50%
Asset-Based Revolving Credit Facility [Member] | Maximum [Member]
Shares Issued And Outstanding [Line Items]
Line of credit facility, unused capacity, commitment fee percentage	0.375%
Asset-Based Revolving Credit Facility [Member] | Maximum [Member] | Base Rate [Member]
Shares Issued And Outstanding [Line Items]
Debt instrument, basis spread on variable rate	1.00%	1.00%
Asset-Based Revolving Credit Facility [Member] | Maximum [Member] | London Interbank Offered Rate (LIBOR) [Member]
Shares Issued And Outstanding [Line Items]
Debt instrument, basis spread on variable rate	2.00%	2.00%

Long-Term Debt - Principle Repa

Long-Term Debt - Principle Repayment Requirements Under Long Term Agreements Outstanding (Detail) $ in Thousands	Sep. 30, 2018USD ($)
Maturities of Long-term Debt [Abstract]
2,019	$ 10,228
2,020	14
2,021	15
2,022	14
2,023	6
Thereafter	245,000
Total	$ 255,277

Stock Incentive Plan - Addition

Stock Incentive Plan - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Millions	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Employee service share-based compensation, nonvested awards, compensation not yet recognized, stock options	$ 0.5
Employee service share-based compensation, nonvested awards, compensation cost not yet recognized, period for recognition	2 years
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation arrangement by share-based payment award, equity instruments other than options, grants in period	0
Employee Stock Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation arrangement by share-based payment award, number of shares authorized	5,000,000
Share price	$ 3.40
Share-based compensation arrangement by share-based payment award, options, vested in period, fair value	$ 0.3	$ 0.9

Stock Incentive Plan - Schedule

Stock Incentive Plan - Schedule of Stock-Based Compensation Expense Recognized (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense, pre-tax	$ 191	$ 268	$ 363	$ 1,693
Tax expense for stock-based compensation expense	(49)	(107)	(94)	(677)
Total stock-based compensation expense, net of tax	142	161	269	1,016
Unallocated Corporate [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock option compensation expense	120	27	220	126
Restricted stock shares compensation expenses		225		1,100
Broadcast [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock option compensation expense	40	7	82	41
Restricted stock shares compensation expenses				224
Digital Media [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock option compensation expense	27	6	50	25
Restricted stock shares compensation expenses				124
Publishing [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock option compensation expense	$ 4	$ 3	$ 11	17
Restricted stock shares compensation expenses				$ 36

Stock Incentive Plan - Schedu_2

Stock Incentive Plan - Schedule of Weighted-Average Assumptions Used to Estimate Fair Value of Stock Options and Restricted Stock Awards using Black-Scholes Option Valuation Model (Detail)	9 Months Ended
	Sep. 30, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Expected volatility	41.84%
Expected dividends	7.89%
Expected term (in years)	7 years 4 months 24 days
Risk-free interest rate	2.93%

Stock Incentive Plan - Schedu_3

Stock Incentive Plan - Schedule of Stock Option Activity (Detail) - USD ($) $ / shares in Units, $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2018	Dec. 31, 2017
Shares
Ending Balance	1,989,472
Employee Stock Option [Member]
Shares
Beginning Balance	1,428,462
Granted	650,000
Exercised	(17,615)
Forfeited or expired	(71,375)
Ending Balance	1,989,472	1,428,462
Exercisable at end of period	1,055,716
Expected to Vest	886,601
Weighted Average Exercise Price
Beginning Balance	$ 5.20
Granted	3.30
Exercised	2.49
Forfeited or expired	4.42
Ending Balance	4.63	$ 5.20
Exercisable at end of period	5.51
Expected to Vest	4.65
Weighted Average Grant Date Fair value
Beginning Balance	2.96
Granted	1.86
Exercised	2.11
Forfeited or expired	3.20
Ending Balance	2.60	$ 2.96
Exercisable at end of period	3.38
Expected to Vest	$ 2.62
Weighted Average Remaining Contractual Term
Contractual term	4 years 3 months 18 days	3 years 8 months 12 days
Exercisable at end of period	2 years 6 months
Expected to Vest	4 years 3 months 18 days
Aggregate Intrinsic Value
Beginning Balance	$ 653
Exercised	35
Forfeited or expired	28
Ending Balance	312	$ 653
Exercisable at end of period	179
Expected to Vest	$ 128

Equity Transactions - Additiona

Equity Transactions - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017	Dec. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Non-cash stock-based compensation expense related to additional paid-in capital	$ 0.2	$ 0.3	$ 0.4	$ 1.7
Scenario, Forecast [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Expected dividend payments					$ 6.8

Equity Transactions - Schedule

Equity Transactions - Schedule of Cash Distributions Declared and Paid (Detail) $ / shares in Units, $ in Thousands	9 Months Ended
	Sep. 30, 2018USD ($)$ / shares
Dividend Payment One [Member]
Dividends Payable [Line Items]
Announcement Date	Sep. 5, 2018
Payment Date	Sep. 28, 2018
Amount Per Share | $ / shares	$ 0.0650
Cash Distributed | $	$ 1,702
Dividend Payment Two [Member]
Dividends Payable [Line Items]
Announcement Date	May 31, 2018
Payment Date	Jun. 29, 2018
Amount Per Share | $ / shares	$ 0.0650
Cash Distributed | $	$ 1,701
Dividend Payment Three [Member]
Dividends Payable [Line Items]
Announcement Date	Feb. 28, 2018
Payment Date	Mar. 28, 2018
Amount Per Share | $ / shares	$ 0.0650
Cash Distributed | $	$ 1,701
Dividend Payment Four [Member]
Dividends Payable [Line Items]
Announcement Date	Dec. 7, 2017
Payment Date	Dec. 29, 2017
Amount Per Share | $ / shares	$ 0.0650
Cash Distributed | $	$ 1,701
Dividend Payment Five [Member]
Dividends Payable [Line Items]
Announcement Date	Sep. 12, 2017
Payment Date	Sep. 29, 2017
Amount Per Share | $ / shares	$ 0.0650
Cash Distributed | $	$ 1,701
Dividend Payment Six [Member]
Dividends Payable [Line Items]
Announcement Date	Jun. 1, 2017
Payment Date	Jun. 30, 2017
Amount Per Share | $ / shares	$ 0.0650
Cash Distributed | $	$ 1,697
Dividend Payment Seven [Member]
Dividends Payable [Line Items]
Announcement Date	Mar. 9, 2017
Payment Date	Mar. 31, 2017
Amount Per Share | $ / shares	$ 0.0650
Cash Distributed | $	$ 1,691

Basic and Diluted Net Earning_2

Basic and Diluted Net Earnings Per Share - Additional Information (Detail) - shares	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Earnings Per Share, Basic and Diluted [Abstract]
Option to purchase shares of common stock outstanding	1,989,472	1,454,462
Options excluded from computation of diluted net income or loss per share	128,284	335,682

Derivative Instruments - Additi

Derivative Instruments - Additional Information (Detail) - USD ($)	May 19, 2017	Sep. 30, 2018	Mar. 28, 2014
Derivative [Line Items]
Notional principal amount			$ 150,000,000
Derivative, floor interest rate		0.625%
Derivative, fixed interest rate		1.645%
Payment to terminate the interest rate swap	$ 800,000
Derivative, maturity date		Mar. 28, 2019
Debt instrument, face amount		$ 245,000,000
Asset-Based Revolving Credit Facility [Member]
Derivative [Line Items]
Debt instrument, face amount	$ 30,000,000
Debt instrument, interest rate, increase (decrease)	2.00%
Debt instrument term		5 years
Minimum [Member] | Asset-Based Revolving Credit Facility [Member]
Derivative [Line Items]
Commitment fee percentage on unused balance	0.25%
Minimum [Member] | Asset-Based Revolving Credit Facility [Member] | London Interbank Offered Rate (LIBOR) [Member]
Derivative [Line Items]
Debt instrument, basis spread on variable rate	1.50%	1.50%
Minimum [Member] | Asset-Based Revolving Credit Facility [Member] | Base Rate [Member]
Derivative [Line Items]
Debt instrument, basis spread on variable rate	0.50%	0.50%
Maximum [Member] | Asset-Based Revolving Credit Facility [Member]
Derivative [Line Items]
Commitment fee percentage on unused balance	0.375%
Maximum [Member] | Asset-Based Revolving Credit Facility [Member] | London Interbank Offered Rate (LIBOR) [Member]
Derivative [Line Items]
Debt instrument, basis spread on variable rate	2.00%	2.00%
Maximum [Member] | Asset-Based Revolving Credit Facility [Member] | Base Rate [Member]
Derivative [Line Items]
Debt instrument, basis spread on variable rate	1.00%	1.00%

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Detail) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Fair Value Of Assets And Liabilities Measured On Non Recurring Basis [Line Items]
Carrying value of notes	$ 245,000,000		$ 245,000,000
Debt instrument, estimated fair value	221,100,000		221,100,000
Gain (Loss) on disposition of assets	$ 759,000	$ (95,000)	(4,400,000)	$ 410,000
KGBIFM [Member]
Fair Value Of Assets And Liabilities Measured On Non Recurring Basis [Line Items]
Gain (Loss) on disposition of assets			$ (4,800,000)

Fair Value Measurements - Summa

Fair Value Measurements - Summary of Fair Value of Financial Assets and Liabilities (Detail) - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
Assets
Estimated fair value of assets held for sale	$ 1,375	$ 3,500
Liabilities:
Estimated fair value of contingent earn-out consideration included in accrued expenses	51
Long-term debt and capital lease obligations less unamortized debt issuance costs	250,410
Other Indefinite Lived Intangible Assets [Member]
Assets
Estimated fair value of other indefinite-lived intangible assets	313
Estimated fair value of assets held for sale	1,375
Fair Value, Inputs, Level 2 [Member] | Other Indefinite Lived Intangible Assets [Member]
Liabilities:
Long-term debt and capital lease obligations less unamortized debt issuance costs	221,113
Fair Value, Inputs, Level 3 [Member] | Other Indefinite Lived Intangible Assets [Member]
Assets
Estimated fair value of assets held for sale	1,375
Estimated fair value of other indefinite-lived intangible assets	313
Liabilities:
Estimated fair value of contingent earn-out consideration included in accrued expenses	$ 51

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($) $ in Millions	9 Months Ended	12 Months Ended
	Sep. 30, 2018	Dec. 31, 2017	Dec. 31, 2016
Income Tax Contingency [Line Items]
Effective corporate income tax rate	21.00%	35.00%
Deferred tax assets, valuation allowance	$ 6.2	$ 6.2	$ 4.5
Deferred tax assets, operating loss carryforwards, state and local	6	6	4.2
Deferred tax assets, impairment losses	$ 0.2	0.2	$ 0.3
Domestic Tax Authority [Member]
Income Tax Contingency [Line Items]
Net operating loss carryforwards for federal income tax purpose		$ 153.1
Ending year of expiry for net operating loss carryforwards		2,020
State and Local Jurisdiction [Member]
Income Tax Contingency [Line Items]
Net operating loss carryforwards for federal income tax purpose		$ 790.4
Ending year of expiry for net operating loss carryforwards		2,037
Beginning year of expiry for net operating loss carry forwards		2,018

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail)	Sep. 30, 2018
Minimum [Member]
Commitment And Contingencies [Line Items]
Operating lease expiration period	10 years
Operating lease renewal period	1 year
Maximum [Member]
Commitment And Contingencies [Line Items]
Operating lease expiration period	25 years
Operating lease renewal period	5 years

Segment Data - Additional Infor

Segment Data - Additional Information (Detail)	9 Months Ended
	Sep. 30, 2018Segments
Segment Reporting [Abstract]
Number of operating segments	3

Segment Data - Schedule of Segm

Segment Data - Schedule of Segment Data (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Jun. 30, 2017	Sep. 30, 2018	Sep. 30, 2017	Dec. 31, 2017	Dec. 31, 2016
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Depreciation	$ 3,032	$ 3,082		$ 9,076	$ 9,171
Amortization	1,604	1,135		4,558	3,420
Change in the estimated fair value of contingent earn-out consideration		(12)		72	(54)
Impairment of indefinite-lived long-term assets other than goodwill			$ 19	0	19
Net (gain) loss on the disposition of assets	759	(95)		(4,400)	410
Net operating income (loss)	6,275	5,005		13,289	18,443
Inventories, net	891			891		$ 730
Property and equipment, net	96,712			96,712		99,480
Broadcast licenses	379,182			379,182		380,914	$ 388,517
Goodwill	26,789			26,789		26,424	$ 25,613
Other indefinite-lived intangible assets	313			313		313
Digital Media [Member]
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Goodwill	986			986
Operating Segments [Member]
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Net revenue	65,528	65,433		195,595	196,525
Operating expenses	55,376	56,128		164,200	165,936
Net operating income (loss) before depreciation, amortization and net loss on the disposition of assets	10,152	9,305		31,395	30,589
Depreciation	3,032	3,082		9,076	9,171
Amortization	1,604	1,135		4,558	3,420
Change in the estimated fair value of contingent earn-out consideration		(12)		72	(54)
Impairment of indefinite-lived long-term assets other than goodwill					19
Net (gain) loss on the disposition of assets	(759)	95		4,400	(410)
Net operating income (loss)	6,275	5,005		13,289	18,443
Inventories, net	891			891		730
Property and equipment, net	96,712			96,712		99,480
Broadcast licenses	379,182			379,182		380,914
Goodwill	26,789			26,789		26,424
Other indefinite-lived intangible assets	313			313		313
Amortizable intangible assets, net	12,899			12,899		13,104
Operating Segments [Member] | Broadcast [Member]
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Net revenue	48,812	48,424		147,425	145,479
Operating expenses	37,158	37,040		110,151	108,807
Net operating income (loss) before depreciation, amortization and net loss on the disposition of assets	11,654	11,384		37,274	36,672
Depreciation	1,923	1,920		5,692	5,668
Amortization	9	11		29	46
Net (gain) loss on the disposition of assets	(759)	97		4,400	(399)
Net operating income (loss)	10,481	9,356		27,153	31,357
Property and equipment, net	81,552			81,552		83,901
Broadcast licenses	379,182			379,182		380,914
Goodwill	2,960			2,960		3,581
Amortizable intangible assets, net	312			312		351
Operating Segments [Member] | Digital Media [Member]
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Net revenue	10,397	10,446		31,051	31,998
Operating expenses	8,021	8,169		24,792	25,241
Net operating income (loss) before depreciation, amortization and net loss on the disposition of assets	2,376	2,277		6,259	6,757
Depreciation	777	792		2,346	2,389
Amortization	1,370	860		3,818	2,494
Change in the estimated fair value of contingent earn-out consideration		(12)		72	(54)
Net operating income (loss)	229	637		23	1,928
Inventories, net	336			336		313
Property and equipment, net	6,442			6,442		6,173
Goodwill	21,933			21,933		20,947
Amortizable intangible assets, net	10,347			10,347		9,801
Operating Segments [Member] | Publishing [Member]
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Net revenue	6,319	6,563		17,119	19,048
Operating expenses	6,210	6,686		17,319	18,705
Net operating income (loss) before depreciation, amortization and net loss on the disposition of assets	109	(123)		(200)	343
Depreciation	128	159		388	515
Amortization	225	264		710	879
Impairment of indefinite-lived long-term assets other than goodwill					19
Net (gain) loss on the disposition of assets					(9)
Net operating income (loss)	(244)	(546)		(1,298)	(1,061)
Inventories, net	555			555		417
Property and equipment, net	1,000			1,000		1,281
Goodwill	1,888			1,888		1,888
Other indefinite-lived intangible assets	313			313		313
Amortizable intangible assets, net	2,237			2,237		2,947
Operating Segments [Member] | Unallocated Corporate [Member]
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Operating expenses	3,987	4,233		11,938	13,183
Net operating income (loss) before depreciation, amortization and net loss on the disposition of assets	(3,987)	(4,233)		(11,938)	(13,183)
Depreciation	204	211		650	599
Amortization				1	1
Net (gain) loss on the disposition of assets		(2)			(2)
Net operating income (loss)	(4,191)	$ (4,442)		(12,589)	$ (13,781)
Property and equipment, net	7,718			7,718		8,125
Goodwill	8			8		8
Amortizable intangible assets, net	$ 3			$ 3		$ 5

Subsequent Events - Additional

Subsequent Events - Additional Information (Detail) - KCRO-AM and KOTK-AM [Member] - USD ($) $ in Millions	Oct. 31, 2018	Jun. 30, 2018
Subsequent Event [Line Items]
Business gross estimated gain loss on sale assets		$ 1.6
Subsequent Event [Member]
Subsequent Event [Line Items]
Proceeds from sale of other assets	$ 1.4