Salem Media (SALM) 10-Q 2 Jun 20 2020 Q1 Quarterly report Financial data

Cover Page

Cover Page - shares	3 Months Ended
	Mar. 31, 2020	May 07, 2020
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2020
Document Fiscal Year Focus	2020
Trading Symbol	SALM
Document Fiscal Period Focus	Q1
Entity Registrant Name	SALEM MEDIA GROUP, INC. /DE/
Entity Central Index Key	0001050606
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Filer Category	Non-accelerated Filer
Entity Shell Company	false
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Interactive Data Current	Yes
Security Exchange Name	NASDAQ
Title of 12(b) Security	Class A Common Stock, $0.01 par value per share
Entity File Number	000-26497
Entity Tax Identification Number	77-0121400
Entity Address, Address Line One	4880 SANTA ROSA ROAD
Entity Address, City or Town	CAMARILLO
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	93012
City Area Code	805
Local Phone Number	987-0400
Document Quarterly Report	true
Document Transition Report	false
Entity Incorporation, State or Country Code	DE
Common Class A [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		21,129,667
Common Class B [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		5,553,696

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Current assets:
Cash and cash equivalents	$ 1,253	$ 6
Trade accounts receivable (net of allowances of $10,947 in 2019 and $11,408 in 2020)	26,862	30,824
Unbilled revenue	2,356	2,749
Other receivables	1,508	1,352
Inventories (net of reserves of $1,271 in 2019 and $1,431in 2020)	647	717
Prepaid expenses	6,477	5,890
Assets held for sale	185	185
Total current assets	39,288	41,723
Notes receivable (net of allowance of $954 in 2019 and $930 in 2020)	669	667
Property and equipment (net of accumulated depreciation of $173,122 in 2019 and $175,212 in 2020)	86,630	87,673
Operating lease right-of-use assets	52,425	54,550
Financing lease right-of-use assets	161	180
Broadcast licenses	320,864	337,858
Goodwill	23,691	23,998
Other indefinite-lived intangible assets	0	260
Amortizable intangible assets (net of accumulated amortization of $55,617 in 2019 and $56,604 in 2020)	6,113	7,100
Deferred financing costs	183	224
Other assets	4,639	4,197
Total assets	534,663	558,430
Current liabilities:
Accounts payable	2,192	3,468
Accrued expenses	8,064	9,395
Accrued compensation and related expenses	9,578	7,895
Accrued interest	4,902	1,262
Contract liabilities	9,630	9,493
Deferred rent income	118	110
Income taxes payable	588	531
Current portion of operating lease liabilities	8,697	8,485
Current portion of financing (capital) lease liabilities	65	69
Current portion of long-term debt	14,000	12,426
Total current liabilities	57,834	53,134
Long-term debt, less current portion	213,212	216,468
Operating lease liabilities, less current portion	51,557	54,050
Financing (capital) lease liabilities, less current portion	111	124
Deferred income taxes	71,862	38,778
Contract liabilities, long-term	1,740	1,744
Deferred rent income, less current portion	3,933	3,956
Other long-term liabilities	519	513
Total liabilities	400,768	368,767
Commitments and contingencies (Note 16)
Stockholders' Equity:
Additional paid-in capital	246,783	246,680
Accumulated earnings (deficit)	(79,165)	(23,294)
Treasury stock, at cost (2,317,650 shares at December 31, 2019 and March 31, 2020)	(34,006)	(34,006)
Total stockholders' equity	133,895	189,663
Total liabilities and stockholders' equity	534,663	558,430
Common Class A [Member]
Stockholders' Equity:
Common stock	227	227
Total stockholders' equity	227	227
Common Class B [Member]
Stockholders' Equity:
Common stock	56	56
Total stockholders' equity	$ 56	$ 56

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Trade accounts receivable, allowances	$ 11,408	$ 10,947
Inventories, reserves	1,431	1,271
Notes receivable, allowance	930	954
Property and equipment, accumulated depreciation	175,212	173,122
Amortizable intangible assets, accumulated amortization	$ 56,604	$ 55,617
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	23,447,317	23,447,317
Common stock, outstanding	21,129,667	21,129,667
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

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Total net revenue	$ 58,250	$ 60,469
Operating expenses:
Unallocated corporate expenses exclusive of depreciation and amortization shown below (including $7 and $180 for the three months ended March 31, 2019 and 2020, respectively, paid to related parties)	4,210	3,871
Depreciation	2,713	2,933
Amortization	987	1,296
Change in the estimated fair value of contingent earn-out consideration	(5)
Impairment of indefinite-lived long-term assets other than goodwill	17,254
Impairment of goodwill	307
Net (gain) loss on the disposition of assets	79	4,024
Total operating expenses	76,260	61,453
Operating loss	(18,010)	(984)
Other income (expense):
Interest income		1
Interest expense	(4,032)	(4,425)
Gain on early retirement of long-term debt	49	426
Net miscellaneous income and expenses	(52)	1
Net loss before income taxes	(22,045)	(4,981)
Provision for (benefit from) income taxes	33,159	(5,303)
Net income (loss)	$ (55,204)	$ 322
Basic earnings (loss) per share data:
Basic earnings (loss) per share Class A and Class B common stock	$ (2.07)	$ 0.01
Diluted earnings (loss) per share data:
Diluted earnings (loss) per share Class A and Class B common stock	$ (2.07)	$ 0.01
Basic weighted average Class A and Class B shares outstanding	26,683,363	26,186,112
Diluted weighted average Class A and Class B shares outstanding	26,683,363	26,193,307
Broadcast [Member]
Total net revenue	$ 45,180	$ 46,093
Operating expenses:
Total operating expenses	37,327	36,449
Digital Media [Member]
Total net revenue	9,104	10,240
Operating expenses:
Total operating expenses	8,326	8,058
Publishing [Member]
Total net revenue	3,966	4,136
Operating expenses:
Total operating expenses	$ 5,062	$ 4,822

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Operating expenses	$ 76,260	$ 61,453
Unallocated corporate expenses exclusive of depreciation and amortization	4,210	3,871
Related Party [Member]
Unallocated corporate expenses exclusive of depreciation and amortization	180	7
Broadcast [Member]
Operating expenses	37,327	36,449
Broadcast [Member] | Related Party [Member]
Operating expenses	$ 431	$ 436

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Additional Paid-in Capital [Member]	Accumulated Earnings (Deficit) [Member]	Treasury Stock [Member]	Common Class A [Member]	Common Class B [Member]
Balance at Dec. 31, 2018	$ 221,869	$ 245,220	$ 10,372	$ (34,006)	$ 227	$ 56
Balance (in shares) at Dec. 31, 2018					22,950,066	5,553,696
Stock-based compensation	176	176
Cash distributions	(1,702)		(1,702)
Net income (loss)	322		322
Balance at Mar. 31, 2019	220,665	245,396	8,992	(34,006)	$ 227	$ 56
Balance (in shares) at Mar. 31, 2019					22,950,066	5,553,696
Distributions per share					$ 0.065	$ 0.065
Balance at Dec. 31, 2019	189,663	246,680	(23,294)	(34,006)	$ 227	$ 56
Balance (in shares) at Dec. 31, 2019					23,447,317	5,553,696
Stock-based compensation	103	103
Cash distributions	(667)		(667)
Net income (loss)	(55,204)		(55,204)
Balance at Mar. 31, 2020	$ 133,895	$ 246,783	$ (79,165)	$ (34,006)	$ 227	$ 56
Balance (in shares) at Mar. 31, 2020					23,447,317	5,553,696
Distributions per share					$ 0.025	$ 0.025

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
OPERATING ACTIVITIES
Net income (loss)	$ (55,204)	$ 322
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Non-cash stock-based compensation	103	176
Depreciation and amortization	3,700	4,229
Amortization of deferred financing costs	227	258
Non-cash lease expense	2,252	2,267
Accretion of acquisition-related deferred payments and contingent consideration		1
Provision for bad debts	1,900	320
Deferred income taxes	33,084	(5,304)
Impairment of indefinite-lived long-term assets other than goodwill	17,254
Impairment of goodwill	307
Gain on early retirement of long-term debt	(49)	(426)
Change in the estimated fair value of contingent earn-out consideration	(5)
Net (gain) loss on the disposition of assets	79	4,024
Changes in operating assets and liabilities:
Accounts receivable and unbilled revenue	2,419	1,758
Inventories	70	(256)
Prepaid expenses and other current assets	(587)	1,387
Accounts payable and accrued expenses	4,478	3,449
Operating lease liabilities	(2,407)	(3,458)
Contract liabilities	133	133
Deferred rent income	(84)	(43)
Other liabilities	6
Income taxes payable	57	130
Net cash provided by operating activities	7,733	8,967
INVESTING ACTIVITIES
Cash paid for capital expenditures net of tenant improvement allowances	(1,587)	(2,404)
Capital expenditures reimbursable under tenant improvement allowances and trade agreements	(84)
Purchases of broadcast assets and radio stations		(100)
Proceeds from sale of assets	2	1,255
Other	(428)	(139)
Net cash used in investing activities	(2,097)	(1,388)
FINANCING ACTIVITIES
Payments to repurchase 6.75% Senior Secured Notes	(3,392)	(6,123)
Refunds (payments) of debt issuance costs	(1)	(13)
Payments on financing lease liabilities	(18)	(21)
Payment of cash distribution on common stock	(667)	(1,702)
Book overdraft	(1,885)	3,827
Net cash used in financing activities	(4,389)	(7,692)
Net increase (decrease) in cash and cash equivalents	1,247	(113)
Cash and cash equivalents at beginning of year	6	117
CasCash and cash equivalents at end of periodh and cash equivalents at end of year	1,253	4
Supplemental disclosures of cash flow information:
Cash paid for interest, net of capitalized interest	163	302
Cash paid for interest on finance lease liabilities	2	2
Cash paid for income taxes	18	130
Other supplemental disclosures of cash flow information:
Barter revenue	1,192	1,310
Barter expense	1,034	1,356
Non-cash investing and financing activities:
Capital expenditures reimbursable under tenant improvement allowances	84
Right-of-use assets acquired through operating leases	575	288
Non-cash capital expenditures for property & equipment acquired under trade agreements	4
Abl Facility [Member]
FINANCING ACTIVITIES
Proceeds from borrowings under ABL Facility	33,319	22,189
Payments on ABL Facility	$ (31,745)	$ (25,849)

Business and Basis of Presentat

Business and Basis of Presentation	3 Months Ended
	Mar. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Business and Basis of Presentation	NOTE 1. BUSINESS AND BASIS OF PRESENTATION Business Salem Media Group, Inc. (“Salem” “we,” “us,” “our” or the “company”) 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. Impact of the COVID-19 In March 2020, the World Health Organization declared the outbreak of COVID-19 stay-at-home non-essential While this disruption is currently expected to be temporary, there is considerable uncertainty around the duration. We are actively monitoring the COVID-19 COVID-19’s To date, the pandemic has not increased our cost of, or access to, capital under our credit facility. Future availability under our credit facility is contingent upon our eligible receivable balance that will be impacted by lower revenues and longer days to collect. To limit our exposure and ensure that we have adequate cash to meet our debt servicing requirements, we have initiated several strategies to reduce costs and conserve cash including: • limiting capital expenditures; • reducing discretionary spending, such as travel and entertainment; • eliminating open positions and new hires; • reducing staffing levels; • implementing company-wide pay cuts ranging from 5%, 7.5% or 10% depending on salary level; • furloughing certain employees that are non-essential • temporarily suspending the company 401K match; • requesting rent concessions from landlords; • requesting discounts from vendors. • offering early payment discounts to certain customers in exchange for advance cash payments; • offering extended payment terms of up to 90 days to limit cancellations and entice new business; • considering sales-leaseback of owned facilities; and • suspending the payment of equity distributions until further notice. On March 27, 2020, the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) was signed into law. The CARES Act provides opportunities for additional liquidity, loan guarantees, and other government programs to support companies affected by the COVID-19 • deferral of all employer FICA taxes beginning in April 2020 for the remainder of 2020, with 50 percent payable in December 2021 and the remainder payable in December 2022; and • relaxation of interest expense deduction limitation for income tax purposes. We reforecast our 2020 anticipated results extending through June 2021. Our reforecast includes the impact of certain of these cost-cutting measures. We may consider sales-leaseback of owned facilities if the adverse economic impact of the COVID-19 We continue to review and consider any available potential benefit under the CARES Act for which we qualify. We cannot predict the manner in which such benefits or any of the other benefits described herein will be allocated or administered and we cannot assure you that we will be able to access such benefits in a timely manner or at all. If the U.S. government or any other governmental authority agrees to provide such aid under the CARES Act or any other crisis relief assistance it may impose certain requirements on the recipients of the aid, including restrictions on executive officer compensation, dividends, prepayment of debt, limitations on debt and other similar restrictions that will apply for a period of time after the aid is repaid or redeemed in full. Basis of Presentation The accompanying Condensed Consolidated Financial Statements of Salem include the company and its wholly owned subsidiaries. All significant intercompany balances and transactions have been eliminated. Information with respect to the three months ended March 31, 2020 and 2019 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, 2019 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. 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 can be materially different from these estimates and assumptions. Significant areas for which management uses estimates include: • revenue recognition; • asset impairments, including broadcasting licenses, goodwill and other indefinite-lived intangible assets; • 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; • assessment of contract-based factors, asset-based factors, entity-based factors and market-based factors to determine the lease term impacting Right-Of-Use • determining the Incremental Borrowing Rate (“IBR”) for calculating ROU assets and lease liabilities, • income tax valuation allowances; • uncertain tax positions; and • estimates used in going concern analysis. 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. The COVID-19 pandemic continues to create significant uncertainty and disruption in the global economy and financial markets. It is reasonably possible that these uncertainties could materially impact our estimates related to, but not limited to, revenue recognition, broadcast licenses, goodwill and income taxes. As a result, many of our estimates and assumptions require increased judgment and carry a higher degree of variability and volatility. Our estimates may change as new events occur and additional information emerges, and such changes are recognized or disclosed in our consolidated financial statements.

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2020
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	NOTE 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES There have been no changes to our significant accounting policies described in Note 2 to our Annual Report on Form 10-K 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 March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting In March 2020, the FASB issued ASU 2020-03, Codification Improvements to Financial Instruments In January 2020, the FASB issued ASU 2020-01, Investments—Equity Securities (Topic 321), Investments—Equity Method and Joint Ventures (Topic 323), and Derivatives and Hedging (Topic 815)—Clarifying the Interactions between Topic 321, Topic 323, and Topic 815 2016-01 In June 2016, the FASB issued ASU 2016-13, Financial Instruments-Credit Losses, held-to-maturity available-for-sale 2016-13, 2018-19, Codification Improvements to Topic 326, Financial Instruments—Credit Losses 2016-13. 2018-19 2016-13. 2019-04, Codification Improvements to Topic 326, Financial Instruments – Credit Losses, Topic 815, Derivatives and Hedging, and Topic 825, Financial Instruments 2016-13. 2019-05, Financial Instruments – Credit Losses (Topic 326) 2016-13.

Recent Transactions

Recent Transactions	3 Months Ended
	Mar. 31, 2020
Text Block [Abstract]
Recent Transactions	NOTE 3. RECENT TRANSACTIONS During the three month period ended March 31, 2020, we completed or entered into the following transactions: Debt Transactions We completed repurchases of $3.5 million of the 6.75% Senior Secured Notes (“Notes”) for $3.4 million in cash, recognizing a net gain of $49,000 after adjusting for bond issuance costs as detailed in Note 13 – Long-Term Debt. Equity Transactions Distributions of $0.7 million ($0.025 per share) were declared and paid based upon the Board of Directors’ then current assessment of our business as detailed in Note 18 – Equity Transactions. Pending Transactions On October 31, 2019, we entered into an agreement to sell radio station WBZW-AM pre-tax On February 5, 2020, we entered an Asset Purchase Agreement (“APA”) with Word Broadcasting to sell radio stations WFIA-AM, WFIA-FM WGTK-AM 4-29

Contingent Earn-Out Considerati

Contingent Earn-Out Consideration	3 Months Ended
	Mar. 31, 2020
Text Block [Abstract]
Contingent Earn-Out Consideration	NOTE 4. 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 At March 31, 2020, our estimated contingent earn-out earn-out earn-out earn-out

Revenue Recognition

Revenue Recognition	3 Months Ended
	Mar. 31, 2020
Revenue from Contract with Customer [Abstract]
Revenue Recognition	NOTE 5. REVENUE RECOGNITION We recognize revenue in accordance with ASC 606, “ Revenue from Contracts with Customers” 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. A summary of our principal sources of revenue 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. Salem Surround, our national multimedia advertising agency, offers a comprehensive suite of digital marketing services to develop and execute audience-based marketing strategies for clients on both the national and local level. Salem Surround specializes in digital marketing services for each of our radio stations and websites as well as provides a full-service digital marketing strategy for each of our clients. 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 30-day 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 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 airtime 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 airtime or digital campaign in favor of customers who purchase the airtime or digital campaign for cash. The value of these non-cash Trade and barter revenues and expenses were as follows: Three Months Ended 2019 2020 Net broadcast barter revenue $ 1,299 $ 1,166 Net digital media barter revenue — — Net publishing barter revenue 11 26 Net broadcast barter expense $ 1,356 $ 1,034 Net digital media barter expense — — Net publishing barter expense — — Contract Assets 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 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, 2020 $ 9,493 $ 1,744 Revenue recognized during the period that was included in the beginning balance of contract liabilities (3,042 ) — Additional amounts recognized during the period 5,196 287 Revenue recognized during the period that was recorded during the period (2,308 ) — Transfers 291 (291 ) Balance, end of period March 31, 2020 $ 9,630 $ 1,740 Amount refundable at beginning of period $ 9,403 $ 1,744 Amount refundable at end of period $ 9,541 $ 1,740 We expect to satisfy these performance obligations as follows: Amount For the Twelve Months Ended March 31, (Dollars in thousands) 2021 $ 9,630 2022 998 2023 378 2024 173 2025 75 Thereafter 116 $ 11,370 The following table presents our revenues disaggregated by revenue source for each of our operating segments: Three Months Ended March 31, 2020 Broadcast Digital Media Publishing Consolidated (dollars in thousands) By Source of Revenue: Block Programming - National $ 12,034 $ — $ — $ 12,034 Block Programming - Local 6,808 — — 6,808 Spot Advertising - National 3,957 — — 3,957 Spot Advertising - Local 11,357 — — 11,357 Infomercials 308 — — 308 Network 4,388 — — 4,388 Digital Advertising 3,326 4,713 99 8,138 Digital Streaming 608 915 — 1,523 Digital Downloads and eBooks — 1,245 254 1,499 Subscriptions 282 2,135 177 2,594 Book Sales and e-commerce, 76 28 1,723 1,827 Self-Publishing Fees — — 1,402 1,402 Print Advertising 1 — 102 103 Other Revenues 2,035 68 209 2,312 $ 45,180 $ 9,104 $ 3,966 $ 58,250 Timing of Revenue Recognition Point in Time $ 44,563 $ 9,104 $ 3,966 $ 57,633 Rental Income (1) 617 — — 617 $ 45,180 $ 9,104 $ 3,966 $ 58,250 Three Months Ended March 31, 2019 Broadcast Digital Publishing Consolidated (dollars in thousands) By Source of Revenue: Block Programming - National $ 12,233 $ — $ — $ 12,233 Block Programming - Local 7,910 — — 7,910 Spot Advertising - National 3,900 — — 3,900 Spot Advertising - Local 12,062 — — 12,062 Infomercials 390 — — 390 Network 4,306 — — 4,306 Digital Advertising 2,352 5,317 85 7,754 Digital Streaming 161 1,011 — 1,172 Digital Downloads and eBooks — 1,275 162 1,437 Subscriptions 274 2,084 201 2,559 Book Sales and e-commerce, 37 410 1,841 2,288 Self-Publishing Fees — — 1,477 1,477 Print Advertising 2 — 135 137 Other Revenues 2,466 143 235 2,844 $ 46,093 $ 10,240 $ 4,136 $ 60,469 Timing of Revenue Recognition Point in Time $ 45,472 $ 10,225 $ 4,136 $ 59,833 Rental Income (1) 621 15 — 636 $ 46,093 $ 10,240 $ 4,136 $ 60,469 (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. 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 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 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. 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 Variable Consideration Like 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 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 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. Practical Expedients and Exemptions We elected certain practical expedients and policy elections as follows: • We do not adjust 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 do not assess promised goods or services as performance obligations if they are immaterial in the context of the contract with the customer; • We exclude sales and similar taxes from the transaction price; • We treat shipping and handling costs that occur after control transfers as fulfillment activities instead of assessing such activities as separate performance obligations; and • We do not disclose the value of unsatisfied performance obligations for contracts with an original expected length of one year or less.

Inventories

Inventories	3 Months Ended
	Mar. 31, 2020
Inventory Disclosure [Abstract]
Inventories	NOTE 6. INVENTORIES Inventories consist of finished goods including books from Regnery ® First-In First-Out The following table provides details of inventory on hand by segment: December 31, 2019 March 31, 2020 (Dollars in thousands) Regnery ® $ 1,988 $ 2,078 Reserve for obsolescence – Regnery ® (1,271 ) (1,431 ) Inventory, net - Regnery ® $ 717 $ 647

Property and Equipment

Property and Equipment	3 Months Ended
	Mar. 31, 2020
Property, Plant and Equipment [Abstract]
Property and Equipment	NOTE 7. PROPERTY AND EQUIPMENT We account for property and equipment in accordance with FASB ASC Topic 360-10, Property, Plant and Equipment The following is a summary of the categories of our property and equipment: As of December 31, 2019 As of March 31, 2020 (Dollars in thousands) Land $ 30,936 $ 30,951 Buildings 30,283 30,283 Office furnishings and equipment 36,855 37,215 Antennae, towers and transmitting equipment 78,312 78,423 Studio, production and mobile equipment 30,164 29,713 Computer software and website development costs 29,595 30,587 Record and tape libraries 17 17 Automobiles 1,509 1,556 Leasehold improvements 18,834 18,983 Construction-in-progress 4,290 4,114 $ 260,795 $ 261,842 Less accumulated depreciation (173,122 ) (175,212 ) $ 87,673 $ 86,630 Depreciation expense was approximately $2.7 million and $2.9 million for the three month periods ended March 31, 2020 and 2019, respectively. We periodically review long-lived assets for impairment when events or changes in circumstances indicate that the carrying amount of the assets may not be fully recoverable. This review requires us to estimate the fair value of the assets using significant unobservable inputs that reflect our own assumptions about the estimates that market participants would use in measuring fair value, including assumptions about risk. If actual future results are less favorable than the assumptions and estimates we used, we are subject to future impairment charges, the amount of which may be material. There were no indications of impairment during the period ended March 31, 2020.

Operating and Finance Lease Rig

Operating and Finance Lease Right-of-Use Assets	3 Months Ended
	Mar. 31, 2020
Leases [Abstract]
Operating and Finance Lease Right-of-Use Assets	NOTE 8. OPERATING AND FINANCE LEASE RIGHT-OF-USE Leases We account for leases in accordance with ASC 842, “ Leases Leasing Transactions Our leased assets include offices and studios, transmitter locations, antenna sites, tower and tower sites, and land. Our lease portfolio has terms remaining from less than one-year Operating leases are reflected on our balance sheet within operating lease ROU assets and the related current and non-current Balance Sheet Supplemental balance sheet information related to leases is as follows: March 31, 2020 (Dollars in thousands) Operating Leases Related Party Other Total Operating leases ROU assets $ 7,708 $ 44,717 $ 52,425 Operating lease liabilities (current) $ 999 $ 7,698 $ 8,697 Operating lease liabilities (non-current) 6,948 44,609 51,557 Total operating lease liabilities $ 7,947 $ 52,307 $ 60,254 Weighted Average Remaining Lease Term Operating leases 8.6 years Finance leases 3.2 years Weighted Average Discount Rate Operating leases 8.22 % Finance leases 4.60 % Lease Expense The components of lease expense were as follows: Three Months Ended (Dollars in thousands) Amortization of finance lease ROU Assets $ 18 Interest on finance lease liabilities 2 Finance lease expense 20 Operating lease expense 3,473 Variable lease expense 205 Short-term lease expense 155 Total lease expense $ 3,853 Supplemental Cash Flow Supplemental cash flow information related to leases was as follows: Three Months Ended (Dollars in thousands) Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 3,636 Operating cash flows from finance leases 2 Financing cash flows from finance leases 18 Leased assets obtained in exchange for new operating lease liabilities $ 575 Leased assets obtained in exchange for new finance lease liabilities — Maturities Future minimum lease payments under leases that had initial or remaining non-cancelable Operating Leases Future minimum lease Related Party Other Total Finance Leases Total (Dollars in thousands) 2020 (Apr-Dec) $ 1,203 $ 9,476 $ 10,679 $ 55 $ 10,734 2021 1,619 11,616 13,235 55 13,290 2022 1,613 10,067 11,680 46 11,726 2023 1,169 8,996 10,165 25 10,190 2024 1,015 6,641 7,656 7 7,663 Thereafter 5,097 30,888 35,985 0 35,985 Undiscounted Cash Flows $ 11,716 $ 77,684 $ 89,400 $ 188 $ 89,588 Less: imputed interest (3,769 ) (25,377 ) (29,146 ) (12 ) (29,158 ) Total $ 7,947 $ 52,307 $ 60,254 $ 176 $ 60,430 Reconciliation to lease liabilities: Lease liabilities - current $ 999 $ 7,698 $ 8,697 $ 65 $ 8,762 Lease liabilities - long-term 6,948 44,609 51,557 111 51,668 Total Lease Liabilities $ 7,947 $ 52,307 $ 60,254 $ 176 $ 60,430

Broadcast Licenses

Broadcast Licenses	3 Months Ended
	Mar. 31, 2020
Text Block [Abstract]
Broadcast Licenses	NOTE 9. BROADCAST LICENSES We account for broadcast licenses in accordance with FASB ASC Topic 350 Intangibles—Goodwill and Other We performed an interim review of broadcast licenses for certain markets during the first quarter of 2020 due to the COVID-19 stay-at-home start-up Impairment testing requires estimates of the fair value of our indefinite-lived intangible assets. We believe that these fair value estimates are critical accounting estimates as the value is significant in relation to our total assets and the estimates incorporate variables and assumptions based on our experiences and judgment about our future operating performance. Fair value measurements 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. If actual future results are less favorable than the assumptions and estimates used in our estimates, we are subject to future impairment charges, the amount of which may be material. The unobservable inputs are defined in FASB ASC Topic 820 “Fair Value Measurements and Disclosures” as Level 3 inputs discussed in detail in Note 14 – Fair Value Measurements. The estimated fair value of each 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 a broadcast 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, (7) the calculations of yearly net free cash flows to invested capital; and (8) amortization of the intangible asset, or the broadcast license. 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 Broadcast Licenses December 31, 2019 March 31, 2020 Risk-adjusted discount rate 9.0% 9.5% Operating profit margin ranges 4.0% - 33.8% 4.6% - 33.8% Long-term revenue growth rates 0.7% - 1.1% 0.8% - 1.1% The risk-adjusted discount rate reflects the Weighted Average Cost of Capital (“WACC”) developed based on data from same or similar industry participants and publicly available market data as of the measurement date. Based on our review and analysis, we determined that the carrying value of broadcast licenses in 7 of our market clusters were impaired as of the interim testing period ending March 31, 2020. We recorded an impairment charge of $17.0 million to the value of broadcast licenses in Chicago, Cleveland, Louisville, Philadelphia, Portland, Sacramento and Tampa. The impairment charges were driven by decreases in projected revenues due to the current estimated impact of COVID-19 The table below presents the results of our interim impairment testing under the start-up Market Cluster Excess Fair Value Boston, MA 4.8 % Chicago, IL (9.0 %) Cleveland, OH (18.4 %) Dallas, TX 8.5 % Louisville, KY (21.8 %) New York, NY 7.3 % Philadelphia, PA (13.1 %) Portland, OR (14.8 %) Sacramento, CA (9.6 %) San Francisco, CA 1.2 % Tampa, FL (28.0 %) We believe we have made reasonable estimates and assumptions to calculate the estimated fair value of our broadcast licenses, however, these estimates and assumptions are highly judgmental in nature. Actual results can be materially different from estimates and assumptions. If actual market conditions are less favorable than those projected by the industry or by us, or if events occur or circumstances change that would reduce the estimated fair value of our broadcast licenses below the amounts reflected on our balance sheet, we may recognize future impairment charges, the amount of which may be material. The following table presents the changes in broadcasting licenses that include acquisitions and divestitures of radio stations and FM translators. Broadcast Licenses Twelve Months Ended Three Months Ended March 31, 2020 (Dollars in thousands) Balance before cumulative loss on impairment, beginning of period $ 484,691 $ 441,143 Accumulated loss on impairment, beginning of period (108,375 ) (103,285 ) Balance after cumulative loss on impairment, beginning of period 376,316 337,858 Acquisitions of radio stations 617 — Acquisitions of FM translators and construction permits 35 — Capital projects 300 — Dispositions of radio stations (36,502 ) — Impairments based on the estimated fair value of broadcast licenses (2,908 ) (16,994 ) Balance, end of period after cumulative loss on impairment $ 337,858 $ 320,864 Balance, end of period before cumulative loss on impairment $ 441,143 $ 441,143 Accumulated loss on impairment, end of period (103,285 ) (120,279 ) Balance, end of period after cumulative loss on impairment $ 337,858 $ 320,864

Goodwill

Goodwill	3 Months Ended
	Mar. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill	NOTE 10. GOODWILL We account for goodwill in accordance with FASB ASC Topic 350 “ Intangibles—Goodwill and Other We performed an interim review of goodwill during the first quarter of 2020 due to the COVID-19 stay-at-home Impairment testing requires estimates of the fair value of our indefinite-lived intangible assets. We believe that these fair value estimates are critical accounting estimates as the value is significant in relation to our total assets and the estimates incorporate variables and assumptions based on our experiences and judgment about our future operating performance. Fair value measurements 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. If actual future results are less favorable than the assumptions and estimates used in our estimates, we are subject to future impairment charges, the amount of which may be material. The unobservable inputs are defined in FASB ASC Topic 820 “Fair Value Measurements and Disclosures” as Level 3 inputs discussed in detail in Note 14 – Fair Value Measurements. We engaged Bond & Pecaro, an independent appraisal and valuation firm, to assist us in estimating the enterprise of value Salem Author Services for the purpose of evaluating if goodwill is impaired. The enterprise valuation assumes that the subject assets are installed as part of an operating business rather than as a hypothetical start-up. Publishing Enterprise Valuations December 31, 2019 March 31, 2020 Risk adjusted discount rate 10.0% 10.5% Operating margin ranges 1.5% – 3.9% 0.0% – 3.9% Long-term revenue growth rates 0.5% 0.5% The risk-adjusted discount rate reflects the WACC developed based on data from same or similar industry participants and publicly available market data as of the measurement date. Based on our review and analysis, we recorded an impairment charge of $0.3 million, including a $0.1 million charge to the carrying value of goodwill associated with Salem Author Services. The impairment charges were driven by a decrease in the operating margins due to the impact of COVID-19 We believe we have made reasonable estimates and assumptions to calculate the estimated fair value of goodwill, however, these estimates and assumptions are highly judgmental in nature. Actual results can be materially different from estimates and assumptions. If actual market conditions are less favorable than those projected by the industry or by us, or if events occur or circumstances change that would reduce the estimated fair value of goodwill below the amounts reflected on our balance sheet, we may recognize future impairment charges, the amount of which may be material. The following table presents the changes in goodwill including business acquisitions and dispositions as discussed in Note 3 of our Condensed Consolidated Financial Statements. Goodwill Twelve Months Ended Three Months Ended (Dollars in thousands) Balance, beginning of period before cumulative loss on impairment, $ 28,818 $ 28,454 Accumulated loss on impairment (2,029 ) (4,456 ) Balance, beginning of period after cumulative loss on impairment 26,789 23,998 Acquisitions of radio stations — — Acquisitions of digital media entities 6 — Disposition of radio stations (29 ) — Disposition of digital media entities (341 ) — Impairments based on the estimated fair value goodwill (2,427 ) (307 ) Ending period balance $ 23,998 $ 23,691 Balance, end of period before cumulative loss on impairment 28,454 28,454 Accumulated loss on impairment (4,456 ) (4,763 ) Ending period balance $ 23,998 $ 23,691

Other Indefinite-Lived Intangib

Other Indefinite-Lived Intangible Assets	3 Months Ended
	Mar. 31, 2020
Text Block [Abstract]
Other Indefinite-Lived Intangible Assets	NOTE 11. OTHER INDEFINITE-LIVED INTANGIBLE ASSETS Other indefinite-lived intangible consists of mastheads, or the graphic elements that identify our publications to readers and advertisers. These include customized typeset page headers, section headers, and column graphics as well as other name and identity stylized elements within the body of each publication. We are not aware of any legal, competitive, economic or other factors that materially limit the useful life of our mastheads. We account for mastheads in accordance with FASB ASC Topic 350 Intangibles—Goodwill and Other We performed an interim review of mastheads during the first quarter of 2020 due to the COVID-19 stay-at-home Impairment testing requires estimates of the fair value of our indefinite-lived intangible assets. We believe that these fair value estimates are critical accounting estimates as the value is significant in relation to our total assets and the estimates incorporate variables and assumptions based on our experiences and judgment about our future operating performance. Fair value measurements 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. If actual future results are less favorable than the assumptions and estimates used in our estimates, we are subject to future impairment charges, the amount of which may be material. The unobservable inputs are defined in FASB ASC Topic 820 “Fair Value Measurements and Disclosures” as Level 3 inputs discussed in detail in Note 14—Fair Value Measurements. We engaged Bond & Pecaro, an independent appraisal and valuation firm, to assist us in estimating the fair value of mastheads using a Relief from Royalty method, a form of the income approach. The Relief from Royalty method estimates the fair value of mastheads through use of a discounted cash flow model that incorporates a hypothetical “royalty rate” that a third-party owner would be willing to pay in lieu of owning the asset. The royalty rate is based on observed royalty rates for comparable assets as of the measurement date. We adjust the selected royalty rate to account for a percentage of the royalty fee that could be attributed to the use of other intangibles, such as goodwill, time in existence, trade secrets and industry expertise. The adjusted royalty rate represents the royalty fee remaining that could be attributed to the use of the masthead only. Pre-tax 10-year Mastheads December 31, 2019 March 31, 2020 Risk-adjusted discount rate 10.0% 10.5% Long-term revenue growth rates (4.0%) – (1.0%) (1.0%) – (25.0%) Royalty rate 3.00% 3.00% The risk-adjusted discount rate reflects the WACC developed based on data from same or similar industry participants and publicly available market data as of the measurement date. Based on our review and analysis, we recorded an impairment charge to mastheads of $0.3 million as of the interim testing period ended March 31, 2020. The impairment charge was driven by decreases in the projected long-term revenue growth rates for the print magazine industry and an increase in the WACC. We believe that these factors are indicative of trends in the industry as a whole and not unique to our company or operations.

Amortizable Intangible Assets

Amortizable Intangible Assets	3 Months Ended
	Mar. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Amortizable Intangible Assets	NOTE 12. AMORTIZABLE INTANGIBLE ASSETS The following tables provide a summary of our significant classes of amortizable intangible assets: As of March 31, 2020 Accumulated Cost Amortization Net (Dollars in thousands) Customer lists and contracts $ 23,833 $ (22,076 ) $ 1,757 Domain and brand names 20,332 (18,101 ) 2,231 Favorable and assigned leases 2,188 (1,929 ) 259 Subscriber base and lists 9,886 (8,494 ) 1,392 Author relationships 2,771 (2,648 ) 123 Non-compete 2,041 (1,838 ) 203 Other amortizable intangible assets 1,666 (1,518 ) 148 $ 62,717 $ (56,604 ) $ 6,113 As of December 31, 2019 Accumulated Cost Amortization Net (Dollars in thousands) Customer lists and contracts $ 23,833 $ (21,823 ) $ 2,010 Domain and brand names 20,332 (17,727 ) 2,605 Favorable and assigned leases 2,188 (1,920 ) 268 Subscriber base and lists 9,886 (8,251 ) 1,635 Author relationships 2,771 (2,609 ) 162 Non-compete 2,041 (1,798 ) 243 Other amortizable intangible assets 1,666 (1,489 ) 177 $62,717 $(55,617) $7,100 Amortization expense was approximately $1.0 million and $1.3 million for the three month periods ended March 31, 2020 and 2019, respectively. Based on the amortizable intangible assets as of March 31, 2020, we estimate amortization expense for the next five years to be as follows: Year Ended December 31, Amortization Expense (Dollars in thousands) 2020 (Apr – Dec) $ 2,278 2021 1,782 2022 1,146 2023 627 2024 78 Thereafter 202 Total $ 6,113

Long-Term Debt

Long-Term Debt	3 Months Ended
	Mar. 31, 2020
Debt Disclosure [Abstract]
Long-Term Debt	NOTE 13. 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 are 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 they are earlier redeemed or repurchased. Interest initially accrued 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 are secured by a first-priority lien on substantially all assets of ours and the Subsidiary Guarantors (the “Notes Priority Collateral”). There is no direct lien on our 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 before 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; (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 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. Based on the balance of the Notes currently outstanding, we are required to pay $14.6 million per year in interest on the Notes. As of March 31, 2020, accrued interest on the Notes was $4.9 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 We may from time to time, depending on market conditions and prices, contractual restrictions, our financial liquidity and other factors, seek to repurchase the Notes in open market transactions, privately negotiated transactions, by tender offer or otherwise, as market conditions warrant. Due to the adverse economic conditions resulting from the COVID-19 Based on the then existing market conditions, we completed repurchases of our 6.75% Senior Secured Notes at amounts less than face value as follows: Date Principal Cash Paid % of Face Bond Issue Net Gain (Dollars in thousands) January 30, 2020 $ 2,250 $ 2,194 97.50 % $ 35 $ 22 January 27, 2020 1,245 1,198 96.25 % 19 27 December 27, 2019 3,090 2,874 93.00 % 48 167 November 27, 2019 5,183 4,548 87.75 % 82 553 November 15, 2019 3,791 3,206 84.58 % 61 524 March 28, 2019 2,000 1,830 91.50 % 37 134 March 28, 2019 2,300 2,125 92.38 % 42 133 February 20, 2019 125 114 91.25 % 2 9 February 19, 2019 350 319 91.25 % 7 24 February 12, 2019 1,325 1,209 91.25 % 25 91 January 10, 2019 570 526 92.25 % 9 35 December 21, 2018 2,000 1,835 91.75 % 38 127 December 21, 2018 1,850 1,702 92.00 % 35 113 December 21, 2018 1,080 999 92.50 % 21 60 November 17, 2018 1,500 1,357 90.50 % 29 114 May 4, 2018 4,000 3,770 94.25 % 86 144 April 10, 2018 4,000 3,850 96.25 % 87 63 April 9, 2018 2,000 1,930 96.50 % 43 27 $ 38,659 $ 35,586 $ 706 $ 2,367 Asset-Based Revolving Credit Facility On May 19, 2017, the Company entered into the Asset Based Loan (“ABL”) Facility pursuant to a Credit Agreement (the “Credit Agreement”) by and among us and 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 amended the ABL on April 7, 2020 to increase the advance rate on eligible accounts receivable and to extend the maturity date as discussed in Note 20 – Subsequent Events. 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. Current proceeds from the ABL Facility are 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 March 1, 2024, 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 interest 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 from 0.25% to 0.375% per year based on the level of borrowings. The LIBOR rate scheduled to be discontinued at the end of calendar year 2021 could result in all outstanding borrowings subject to the higher base rate borrowing. The April 7, 2020 amendment allows for an alternative benchmark rate which may include the Secured Overnight Financing Rate (“SOFR.”) Availability under the ABL is subject to a borrowing base consisting of (a) 90% of the eligible accounts receivable plus (b) a calculated amount based on the value of certain real property. As of March 31, 2020, the amount available under the ABL was $26.0 million of which $14.0 million was outstanding. The ABL Facility has a first-priority lien on our and the Subsidiary Guarantors’ accounts receivable, inventory, deposit and securities accounts, certain real estate and related assets (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 Credit Agreement provides for the following events of default: (i) default for non-payment We incurred debt issue costs of $0.8 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. Summary of long-term debt obligations Long-term debt consisted of the following: As of As of March 31, 2020 (Dollars in thousands) 6.75% Senior Secured Notes $ 219,836 $ 216,341 Less unamortized debt issuance costs based on imputed interest rate of 7.08% (3,368 ) (3,129 ) 6.75% Senior Secured Notes net carrying value 216,468 213,212 Asset-Based Revolving Credit Facility principal outstanding 12,426 14,000 Long-term debt less unamortized debt issuance costs $ 228,894 $ 227,212 Less current portion (12,426 ) (14,000 ) Long-term debt less unamortized debt issuance costs, net of current portion $ 216,468 $ 213,212 In addition to the outstanding amounts listed above, we also have interest payments related to our long-term debt as follows as of March 31, 2020: • $14.0 million under the ABL Facility, with interest spread ranging 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; • $216.3 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% per annum on the unused portion of the ABL Facility. Maturities of Long-Term Debt Principal repayment requirements under all long-term debt agreements outstanding at March 31, 2020 for each of the next five years and thereafter are as follows: Amount For the Year Ended March 31, (Dollars in thousands) 2021 $ 14,000 2022 — 2023 — 2024 — 2025 216,341 Thereafter — $ 230,341

Fair Value Measurements and Dis

Fair Value Measurements and Disclosures	3 Months Ended
	Mar. 31, 2020
Fair Value Disclosures [Abstract]
Fair Value Measurements and Disclosures	NOTE 14. FAIR VALUE MEASUREMENTS Fair value is defined as “the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date.” FASB ASC Topic 820 “ Fair Value Measurements and Disclosures,” • Level 1 Inputs • Level 2 Inputs • Level 3 Inputs Under ASC 820, a fair value measurement of a nonfinancial asset considers a market participant’s ability to generate economic benefits by using the asset in its highest and best use or by selling it to another market participant that would use the asset in its highest and best use. Therefore, fair value is a market-based measurement and not an entity-specific measurement. It is determined based on assumptions that market participants would use in pricing the asset or liability. The exit price objective of a fair value measurement applies regardless of the reporting entity’s intent and/or ability to sell the asset or transfer the liability at the measurement date. As of March 31, 2020, 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 March 31, 2020 was $216.3 million compared to the estimated fair value of $175.2 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 The following table summarizes the fair value of our financial assets and liabilities that are measured at fair value: March 31, 2020 Carrying Value on Fair Value Measurement Category Level 1 Level 2 Level 3 (Dollars in thousands) Assets Estimated fair value of other indefinite-lived intangible assets $ — — — $ — Liabilities: Estimated fair value of contingent earn-out 14 — — 14 Long-term debt less unamortized debt issuance costs 227,212 — 184,042 —

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2020
Income Tax Disclosure [Abstract]
Income Taxes	NOTE 15. 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 continue to evaluate the impact of the CARES Act, including the modifications on the limitation of business interest for tax years beginning in 2019 and 2020 that we have considered in our analysis. At December 31, 2019, we had net operating loss carryforwards for federal income tax purposes of approximately $136.1 million that expire in 2021 through 2038 and for state income tax purposes of approximately $793.7 million that expire in years 2020 through 2039. For financial reporting purposes at December 31, 2019, we had a valuation allowance of $8.9 million, net of federal benefit, to offset the deferred tax assets related to the state net operating loss carryforwards along with a valuation allowance of $4.1 million to offset the deferred tax assets related to the federal net operating loss carryforwards. As a result of our adjusted cumulative three-year pre-tax COVID-19 Valuation Allowance (Deferred Taxes) For financial reporting purposes a valuation allowance of $50.1 million offsets deferred tax asset at March 31, 2020. We regularly review our financial forecasts 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. As a result of our adjusted cumulative three-year pre-tax COVID-19

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	NOTE 16. COMMITMENTS AND CONTINGENCIES The Company enters into various agreements in the normal course of business that contain minimum guarantees. Minimum guarantees are typically 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. The company evaluates claims based on what we believe to be both probable and reasonably estimable. The company maintains insurance that may provide coverage for such matters. Consequently, the company is unable to ascertain the ultimate aggregate amount of monetary liability or the financial impact with respect to these 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 condensed consolidated financial position, results of operations or cash flows.

Stock Incentive Plan

Stock Incentive Plan	3 Months Ended
	Mar. 31, 2020
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock Incentive Plan	NOTE 17. 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 8,000,000 shares 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. Awards granted to non-employee 505-50 Equity Based Payments to Non-Employees 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 Three Months Ended March 31, 2019 2020 (Dollars in thousands) Stock option compensation expense included in corporate expenses $ 107 $ 50 Stock option compensation expense included in broadcast operating expenses 39 37 Stock option compensation expense included in digital media operating expenses 26 15 Stock option compensation expense included in publishing operating expenses 4 1 Total stock-based compensation expense, pre-tax $ 176 $ 103 Tax benefit (expense) for stock-based compensation expense (46 ) (27 ) Total stock-based compensation expense, net of tax $ 130 $ 76 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 that contain transfer restrictions under which they cannot be sold, pledged, transferred or assigned until the period specified in the award, generally from one to five years. Restricted stock awards are independent of option grants and are granted at no cost to the recipient other than applicable taxes owed by the recipient. The awards are considered issued and outstanding from the date of grant. 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 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 month periods ended March 31, 2020 and 2019: Three Months Ended Three Months Ended March 31, 2019 March 31, 2020 Expected volatility 47.54 % 53.96 % Expected dividends 9.22 % 7.30 % Expected term (in years) 7.5 7.6 Risk-free interest rate 2.61 % 1.14 % Activity with respect to the Company’s option awards during the three month period ended March 31, 2020 is as follows: Options Shares Weighted Weighted Weighted Average Aggregate (Dollars in thousands, except weighted average exercise price and weighted Outstanding at January 1, 2020 1,860,722 $ 4.63 $ 2.61 4.1 years $ — Granted 743,000 1.37 0.35 — Exercised — — — — Forfeited or expired (212,925 ) 6.43 4.35 $ — Outstanding at March 31, 2020 2,390,797 $ 3.27 $ 1.56 4.9 years $ — Exercisable at March 31, 2020 1,140,047 $ 4.62 $ 2.37 2.7 years $ — Expected to Vest 1,187,587 $ 3.30 $ 1.58 4.9 years $ — Activity with respect to the Company’s restricted stock awards during the three month period ended March 31, 2020 is as follows: Restricted Stock Awards Shares Weighted Average Weighted Average Aggregate (Dollars in thousands, except weighted average exercise price and weighted average Outstanding at January 1, 2020 107,990 $ 1.85 1.67 years $ 156 Granted — — — — Lapsed — — — — Forfeited — — — — Outstanding at March 31, 2020 107,990 $ 1.85 1.42 years $ 93 The aggregate intrinsic value represents the difference between the Company’s closing stock price on March 31, 2020 of $0.86 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 periods ended March 31, 2020 and 2019 was $0.2 million and $0.3 million, respectively. As of March 31, 2020, there was $32,000 of total unrecognized compensation cost related to non-vested

Equity Transactions

Equity Transactions	3 Months Ended
	Mar. 31, 2020
Federal Home Loan Banks [Abstract]
Equity Transactions	NOTE 18. EQUITY TRANSACTIONS We account for stock-based compensation expense in accordance with FASB ASC Topic 718, Compensation-Stock Compensation non-cash paid-in The declaration of any 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. On May 6, 2020 our Board of Directors voted to discontinue equity distributions until further notice due to the adverse economic impact of the COVID-19 The following table shows distributions that have been declared and paid since January 1, 2019: Announcement Date Payment Date Amount Per Share Cash Distributed ( in thousands ) March 10, 2020 March 31, 2020 $ 0.0250 $ 667 December 10, 2019 December 30, 2019 $ 0.0250 667 September 11, 2019 September 30, 2019 $ 0.0650 1,730 May 14, 2019 June 28, 2019 $ 0.0650 1,728 March 7, 2019 March 29, 2019 $ 0.0650 1,702

Segment Data

Segment Data	3 Months Ended
	Mar. 31, 2020
Segment Reporting [Abstract]
Segment Data	NOTE 19. SEGMENT DATA FASB ASC Topic 280, “ Segment Reporting 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, which are reported as unallocated corporate expenses in our condensed consolidated statements of operations included in this quarterly report on Form 10-Q. Segment performance, as defined by Salem, is not necessarily comparable to other similarly titled captions of other companies. Our foundational business is radio broadcasting, which includes the ownership and operation of radio stations in large metropolitan markets. Our broadcasting segment includes our national networks and national sales firms. National companies often prefer to advertise across the United States as an efficient and cost-effective way to reach their target audiences. Our national platform under which we offer radio airtime, digital campaigns and print advertisements can benefit national companies by reaching audiences throughout the United States. Salem Radio Network TM TM TM TM TM TM TM TM ® Salem Media Representatives (“SMR”) is our national advertising sales firm with offices in 12 U.S. cities. SMR specializes in placing national advertising on Christian and talk formatted radio stations as well as other commercial radio station formats. SMR sells commercial airtime to national advertisers on our radio stations and through our networks, as well as for independent radio station affiliates. SMR also contracts with independent radio stations to create custom advertising campaigns for national advertisers to reach multiple markets. Salem Surround, our national multimedia advertising agency with locations in 34 markets across the United States, offers a comprehensive suite of digital marketing services to develop and execute audience-based marketing strategies for clients on both the national and local level. Salem Surround specializes in digital marketing services for each of our radio stations and websites as well as provides a full-service digital marketing strategy for each of our clients. Digital Media Our digital media based businesses provide Christian, conservative, investing and health-themed content, e-commerce, ® ® ™ ™ ® ® ™ ® ® non-individualized Our church e-commerce ™ ™ Our web content is accessible through all of our radio station websites that feature content of interest to local audiences throughout the United States. Publishing Our publishing operating segment includes three businesses: (1) Regnery ® Singing News ® , The table below presents financial information for each operating segment as of March 31, 2020 and 2019 based on the composition of our operating segments: Broadcast Digital Publishing Unallocated Consolidated (Dollars in thousands) Three Months Ended March 31, 2020 Net revenue $ 45,180 $ 9,104 $ 3,966 $ — $ 58,250 Operating expenses 37,327 8,326 5,062 4,210 54,925 Net operating income (loss) before depreciation, amortization, change in the estimated fair value of contingent earn-out $ 7,853 $ 778 $ (1,096 ) $ (4,210 ) $ 3,325 Depreciation 1,645 771 69 228 2,713 Amortization 9 768 210 — 987 Change in the estimated fair value of contingent earn-out — (5 ) — — (5 ) Impairment of indefinite-lived long-term assets other than goodwill 16,994 — 260 — 17,254 Impairment of goodwill 184 10 105 8 307 Net (gain) loss on the disposition of assets 79 — — — 79 Net operating income (loss) $ (11,058 ) $ (766 ) $ (1,740 ) $ (4,446 ) $ (18,010 ) Three Months Ended March 31, 2019 Net revenue $ 46,093 $ 10,240 $ 4,136 $ — $ 60,469 Operating expenses 36,449 8,058 4,822 3,871 53,200 Net operating income (loss) before depreciation, amortization and net (gain) loss on the disposition of assets $ 9,644 $ 2,182 $ (686 ) $ (3,871 ) $ 7,269 Depreciation 1,860 774 116 183 2,933 Amortization 9 1,075 212 — 1,296 Net (gain) loss on the disposition of assets 3,783 239 — 2 4,024 Net operating income (loss) $ 3,992 $ 94 $ (1,014 ) $ (4,056 ) $ (984 ) Broadcast Digital Publishing Unallocated Consolidated (Dollars in thousands) As of March 31, 2020 Inventories, net $ — $ — $ 647 $ — $ 647 Property and equipment, net 71,685 6,040 807 8,098 86,630 Broadcast licenses 320,864 — — — 320,864 Goodwill 2,746 19,499 1,446 — 23,691 Other indefinite-lived intangible assets — — — — — Amortizable intangible assets, net 260 4,885 967 1 6,113 As of December 31, 2019 Inventories, net $ — $ — $ 717 $ — $ 717 Property and equipment, net 72,816 6,127 801 7,929 87,673 Broadcast licenses 337,858 — — — 337,858 Goodwill 2,930 19,509 1,551 8 23,998 Other indefinite-lived intangible assets — — 260 — 260 Amortizable intangible assets, net 268 5,653 1,178 1 7,100

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2020
Subsequent Events [Abstract]
Subsequent Events	NOTE 20. SUBSEQUENT EVENTS Subsequent events reflect all applicable transactions through the date of the filing. We have collected $8.5 million of cash-in-advance On May 6, 2020 our Board of Directors voted to discontinue equity distributions until further notice due to the adverse economic impact of the COVID-19 Due to the adverse economic impact of the COVID-19 COVID-19 We began deferring the employer portion of FICA taxes beginning in April 2020 as allowed under the CARES Act. We have deferred payments of $0.8 million to date. Such amounts will initially be recorded in long-term liabilities based on the repayment dates established in the CARES Act of 50% due December 2021 and the remaining 50% due December 2022. On April 7, 2020, we amended the ABL to increase the advance rate on eligible accounts receivable from 85% to 90% and to extend the maturity date from May 19, 2022 to March 1, 2024. The April 7, 2020 amendment allows for an alternative benchmark rate which may include the SOFR due to the LIBOR rate scheduled to be discontinued at the end of calendar year 2021. On April 6, 2020, we sold radio station WBZW-AM

Business and Basis of Present_2

Business and Basis of Presentation (Policies)	3 Months Ended
	Mar. 31, 2020
Accounting Policies [Abstract]
Business	Business Salem Media Group, Inc. (“Salem” “we,” “us,” “our” or the “company”) 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.
Impact Of The COVID19 Pandemic	Impact of the COVID-19 In March 2020, the World Health Organization declared the outbreak of COVID-19 stay-at-home non-essential While this disruption is currently expected to be temporary, there is considerable uncertainty around the duration. We are actively monitoring the COVID-19 COVID-19’s To date, the pandemic has not increased our cost of, or access to, capital under our credit facility. Future availability under our credit facility is contingent upon our eligible receivable balance that will be impacted by lower revenues and longer days to collect. To limit our exposure and ensure that we have adequate cash to meet our debt servicing requirements, we have initiated several strategies to reduce costs and conserve cash including: • limiting capital expenditures; • reducing discretionary spending, such as travel and entertainment; • eliminating open positions and new hires; • reducing staffing levels; • implementing company-wide pay cuts ranging from 5%, 7.5% or 10% depending on salary level; • furloughing certain employees that are non-essential • temporarily suspending the company 401K match; • requesting rent concessions from landlords; • requesting discounts from vendors. • offering early payment discounts to certain customers in exchange for advance cash payments; • offering extended payment terms of up to 90 days to limit cancellations and entice new business; • considering sales-leaseback of owned facilities; and • suspending the payment of equity distributions until further notice. On March 27, 2020, the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) was signed into law. The CARES Act provides opportunities for additional liquidity, loan guarantees, and other government programs to support companies affected by the COVID-19 • deferral of all employer FICA taxes beginning in April 2020 for the remainder of 2020, with 50 percent payable in December 2021 and the remainder payable in December 2022; and • relaxation of interest expense deduction limitation for income tax purposes. We reforecast our 2020 anticipated results extending through June 2021. Our reforecast includes the impact of certain of these cost-cutting measures. We may consider sales-leaseback of owned facilities if the adverse economic impact of the COVID-19 We continue to review and consider any available potential benefit under the CARES Act for which we qualify. We cannot predict the manner in which such benefits or any of the other benefits described herein will be allocated or administered and we cannot assure you that we will be able to access such benefits in a timely manner or at all. If the U.S. government or any other governmental authority agrees to provide such aid under the CARES Act or any other crisis relief assistance it may impose certain requirements on the recipients of the aid, including restrictions on executive officer compensation, dividends, prepayment of debt, limitations on debt and other similar restrictions that will apply for a period of time after the aid is repaid or redeemed in full.
Basis Of Presentation	Basis of Presentation The accompanying Condensed Consolidated Financial Statements of Salem include the company and its wholly owned subsidiaries. All significant intercompany balances and transactions have been eliminated. Information with respect to the three months ended March 31, 2020 and 2019 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, 2019 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.
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 can be materially different from these estimates and assumptions. Significant areas for which management uses estimates include: • revenue recognition; • asset impairments, including broadcasting licenses, goodwill and other indefinite-lived intangible assets; • 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; • assessment of contract-based factors, asset-based factors, entity-based factors and market-based factors to determine the lease term impacting Right-Of-Use • determining the Incremental Borrowing Rate (“IBR”) for calculating ROU assets and lease liabilities, • income tax valuation allowances; • uncertain tax positions; and • estimates used in going concern analysis. 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. The COVID-19 pandemic continues to create significant uncertainty and disruption in the global economy and financial markets. It is reasonably possible that these uncertainties could materially impact our estimates related to, but not limited to, revenue recognition, broadcast licenses, goodwill and income taxes. As a result, many of our estimates and assumptions require increased judgment and carry a higher degree of variability and volatility. Our estimates may change as new events occur and additional information emerges, and such changes are recognized or disclosed in our consolidated financial statements.
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 March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting In March 2020, the FASB issued ASU 2020-03, Codification Improvements to Financial Instruments In January 2020, the FASB issued ASU 2020-01, Investments—Equity Securities (Topic 321), Investments—Equity Method and Joint Ventures (Topic 323), and Derivatives and Hedging (Topic 815)—Clarifying the Interactions between Topic 321, Topic 323, and Topic 815 2016-01 In June 2016, the FASB issued ASU 2016-13, Financial Instruments-Credit Losses, held-to-maturity available-for-sale 2016-13, 2018-19, Codification Improvements to Topic 326, Financial Instruments—Credit Losses 2016-13. 2018-19 2016-13. 2019-04, Codification Improvements to Topic 326, Financial Instruments – Credit Losses, Topic 815, Derivatives and Hedging, and Topic 825, Financial Instruments 2016-13. 2019-05, Financial Instruments – Credit Losses (Topic 326) 2016-13.
Revenue Recognition	We recognize revenue in accordance with ASC 606, “ Revenue from Contracts with Customers” 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. A summary of our principal sources of revenue is as follows: Block Programming . 1 2 50-minutes categories, National, Local and Infomercial revenue. Our stations are classified by format, including Christian Teaching and Talk, News Talk, Contemporary Christian Music, Spanish Language Christian Teaching and Talk and Business. National and local programming content is complementary to our station format while infomercials are closely associated with long-form advertisements. Block Programming revenue may include variable consideration for charities and programmers that purchase blocks of airtime to generate donations and contributions from our audience. Block programming revenue is recognized at the time of broadcast, which represents the point in time that control is transferred to the customer thereby completing our performance obligation. Programming revenue is recorded on a gross basis unless an agency represents the programmer, in which case, revenue is reported net of the commission retained by the agency. 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. Salem Surround, our national multimedia advertising agency, offers a comprehensive suite of digital marketing services to develop and execute audience-based marketing strategies for clients on both the national and local level. Salem Surround specializes in digital marketing services for each of our radio stations and websites as well as provides a full-service digital marketing strategy for each of our clients. 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 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 airtime 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 airtime or digital campaign in favor of customers who purchase the airtime or digital campaign for cash. The value of these non-cash Trade and barter revenues and expenses were as follows: Three Months March 31, 2019 2020 Net broadcast barter revenue $ 1,299 $ 1,166 Net digital media barter revenue — — Net publishing barter revenue 11 26 Net broadcast barter expense $ 1,356 $ 1,034 Net digital media barter expense — — Net publishing barter expense — — Contract Assets 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 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, 2020 $ 9,493 $ 1,744 Revenue recognized during the period that was included in the beginning balance of contract liabilities (3,042 ) — Additional amounts recognized during the period 5,196 287 Revenue recognized during the period that was recorded during the period (2,308 ) — Transfers 291 (291 ) Balance, end of period March 31, 2020 $ 9,630 $ 1,740 Amount refundable at beginning of period $ 9,403 $ 1,744 Amount refundable at end of period $ 9,541 $ 1,740 We expect to satisfy these performance obligations as follows: Amount For the Twelve Months Ended March 31, (Dollars in thousands) 2021 $ 9,630 2022 998 2023 378 2024 173 2025 75 Thereafter 116 $ 11,370 The following table presents our revenues disaggregated by revenue source for each of our operating segments: Three Months Ended March 31, 2020 Broadcast Digital Media Publishing Consolidated (dollars in thousands) By Source of Revenue: Block Programming - National $ 12,034 $ — $ — $ 12,034 Block Programming - Local 6,808 — — 6,808 Spot Advertising - National 3,957 — — 3,957 Spot Advertising - Local 11,357 — — 11,357 Infomercials 308 — — 308 Network 4,388 — — 4,388 Digital Advertising 3,326 4,713 99 8,138 Digital Streaming 608 915 — 1,523 Digital Downloads and eBooks — 1,245 254 1,499 Subscriptions 282 2,135 177 2,594 Book Sales and e-commerce, 76 28 1,723 1,827 Self-Publishing Fees — — 1,402 1,402 Print Advertising 1 — 102 103 Other Revenues 2,035 68 209 2,312 $ 45,180 $ 9,104 $ 3,966 $ 58,250 Timing of Revenue Recognition Point in Time $ 44,563 $ 9,104 $ 3,966 $ 57,633 Rental Income (1) 617 — — 617 $ 45,180 $ 9,104 $ 3,966 $ 58,250 Three Months Ended March 31, 2019 Broadcast Digital Media Publishing Consolidated (dollars in thousands) By Source of Revenue: Block Programming - National $ 12,233 $ — $ — $ 12,233 Block Programming - Local 7,910 — — 7,910 Spot Advertising - National 3,900 — — 3,900 Spot Advertising - Local 12,062 — — 12,062 Infomercials 390 — — 390 Network 4,306 — — 4,306 Digital Advertising 2,352 5,317 85 7,754 Digital Streaming 161 1,011 — 1,172 Digital Downloads and eBooks — 1,275 162 1,437 Subscriptions 274 2,084 201 2,559 Book Sales and e-commerce, 37 410 1,841 2,288 Self-Publishing Fees — — 1,477 1,477 Print Advertising 2 — 135 137 Other Revenues 2,466 143 235 2,844 $ 46,093 $ 10,240 $ 4,136 $ 60,469 Timing of Revenue Recognition Point in Time $ 45,472 $ 10,225 $ 4,136 $ 59,833 Rental Income (1) 621 15 — 636 $ 46,093 $ 10,240 $ 4,136 $ 60,469 (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. 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 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 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. 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 - Variable Consideration Like 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 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. Practical Expedients and Exemptions We elected certain practical expedients and policy elections as follows: • We do not adjust 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 do not assess promised goods or services as performance obligations if they are immaterial in the context of the contract with the customer; • We exclude sales and similar taxes from the transaction price; • We treat shipping and handling costs that occur after control transfers as fulfillment activities instead of assessing such activities as separate performance obligations; and • We do not disclose the value of unsatisfied performance obligations for contracts with an original expected length of one year or less.

Revenue Recognition (Tables)

Revenue Recognition (Tables)	3 Months Ended
	Mar. 31, 2020
Revenue from Contract with Customer [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, 2020 $ 9,493 $ 1,744 Revenue recognized during the period that was included in the beginning balance of contract liabilities (3,042 ) — Additional amounts recognized during the period 5,196 287 Revenue recognized during the period that was recorded during the period (2,308 ) — Transfers 291 (291 ) Balance, end of period March 31, 2020 $ 9,630 $ 1,740 Amount refundable at beginning of period $ 9,403 $ 1,744 Amount refundable at end of period $ 9,541 $ 1,740
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction	We expect to satisfy these performance obligations as follows: Amount For the Twelve Months Ended March 31, (Dollars in thousands) 2021 $ 9,630 2022 998 2023 378 2024 173 2025 75 Thereafter 116 $ 11,370
Trade and Barter Transactions Expenses	Trade and barter revenues and expenses were as follows: Three Months Ended 2019 2020 Net broadcast barter revenue $ 1,299 $ 1,166 Net digital media barter revenue — — Net publishing barter revenue 11 26 Net broadcast barter expense $ 1,356 $ 1,034 Net digital media barter expense — — Net publishing barter expense — —
Reconciliation of Revenue from Segments to Consolidated	The following table presents our revenues disaggregated by revenue source for each of our operating segments: Three Months Ended March 31, 2020 Broadcast Digital Media Publishing Consolidated (dollars in thousands) By Source of Revenue: Block Programming - National $ 12,034 $ — $ — $ 12,034 Block Programming - Local 6,808 — — 6,808 Spot Advertising - National 3,957 — — 3,957 Spot Advertising - Local 11,357 — — 11,357 Infomercials 308 — — 308 Network 4,388 — — 4,388 Digital Advertising 3,326 4,713 99 8,138 Digital Streaming 608 915 — 1,523 Digital Downloads and eBooks — 1,245 254 1,499 Subscriptions 282 2,135 177 2,594 Book Sales and e-commerce, 76 28 1,723 1,827 Self-Publishing Fees — — 1,402 1,402 Print Advertising 1 — 102 103 Other Revenues 2,035 68 209 2,312 $ 45,180 $ 9,104 $ 3,966 $ 58,250 Timing of Revenue Recognition Point in Time $ 44,563 $ 9,104 $ 3,966 $ 57,633 Rental Income (1) 617 — — 617 $ 45,180 $ 9,104 $ 3,966 $ 58,250 Three Months Ended March 31, 2019 Broadcast Digital Publishing Consolidated (dollars in thousands) By Source of Revenue: Block Programming - National $ 12,233 $ — $ — $ 12,233 Block Programming - Local 7,910 — — 7,910 Spot Advertising - National 3,900 — — 3,900 Spot Advertising - Local 12,062 — — 12,062 Infomercials 390 — — 390 Network 4,306 — — 4,306 Digital Advertising 2,352 5,317 85 7,754 Digital Streaming 161 1,011 — 1,172 Digital Downloads and eBooks — 1,275 162 1,437 Subscriptions 274 2,084 201 2,559 Book Sales and e-commerce, 37 410 1,841 2,288 Self-Publishing Fees — — 1,477 1,477 Print Advertising 2 — 135 137 Other Revenues 2,466 143 235 2,844 $ 46,093 $ 10,240 $ 4,136 $ 60,469 Timing of Revenue Recognition Point in Time $ 45,472 $ 10,225 $ 4,136 $ 59,833 Rental Income (1) 621 15 — 636 $ 46,093 $ 10,240 $ 4,136 $ 60,469 (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.

Inventories (Tables)

Inventories (Tables)	3 Months Ended
	Mar. 31, 2020
Inventory Disclosure [Abstract]
Schedule of Inventory on Hand by Segment	The following table provides details of inventory on hand by segment: December 31, 2019 March 31, 2020 (Dollars in thousands) Regnery ® $ 1,988 $ 2,078 Reserve for obsolescence – Regnery ® (1,271 ) (1,431 ) Inventory, net - Regnery ® $ 717 $ 647

Property and Equipment (Tables)

Property and Equipment (Tables)	3 Months Ended
	Mar. 31, 2020
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: As of December 31, 2019 As of March 31, 2020 (Dollars in thousands) Land $ 30,936 $ 30,951 Buildings 30,283 30,283 Office furnishings and equipment 36,855 37,215 Antennae, towers and transmitting equipment 78,312 78,423 Studio, production and mobile equipment 30,164 29,713 Computer software and website development costs 29,595 30,587 Record and tape libraries 17 17 Automobiles 1,509 1,556 Leasehold improvements 18,834 18,983 Construction-in-progress 4,290 4,114 $ 260,795 $ 261,842 Less accumulated depreciation (173,122 ) (175,212 ) $ 87,673 $ 86,630

Operating and Finance Lease R_2

Operating and Finance Lease Right-of-Use Assets (Tables)	3 Months Ended
	Mar. 31, 2020
Leases [Abstract]
Supplemental Balance Sheet Information Related to Leases	Supplemental balance sheet information related to leases is as follows: March 31, 2020 (Dollars in thousands) Operating Leases Related Party Other Total Operating leases ROU assets $ 7,708 $ 44,717 $ 52,425 Operating lease liabilities (current) $ 999 $ 7,698 $ 8,697 Operating lease liabilities (non-current) 6,948 44,609 51,557 Total operating lease liabilities $ 7,947 $ 52,307 $ 60,254 Weighted Average Remaining Lease Term Operating leases 8.6 years Finance leases 3.2 years Weighted Average Discount Rate Operating leases 8.22 % Finance leases 4.60 %
Components of Lease Expense	Lease Expense The components of lease expense were as follows: Three Months Ended (Dollars in thousands) Amortization of finance lease ROU Assets $ 18 Interest on finance lease liabilities 2 Finance lease expense 20 Operating lease expense 3,473 Variable lease expense 205 Short-term lease expense 155 Total lease expense $ 3,853
Schedule of other information related to leases	Supplemental Cash Flow Supplemental cash flow information related to leases was as follows: Three Months Ended (Dollars in thousands) Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 3,636 Operating cash flows from finance leases 2 Financing cash flows from finance leases 18 Leased assets obtained in exchange for new operating lease liabilities $ 575 Leased assets obtained in exchange for new finance lease liabilities —
Schedule of Future Minimum Lease Payments	Future minimum lease payments under leases that had initial or remaining non-cancelable Operating Leases Future minimum lease Related Party Other Total Finance Leases Total (Dollars in thousands) 2020 (Apr-Dec) $ 1,203 $ 9,476 $ 10,679 $ 55 $ 10,734 2021 1,619 11,616 13,235 55 13,290 2022 1,613 10,067 11,680 46 11,726 2023 1,169 8,996 10,165 25 10,190 2024 1,015 6,641 7,656 7 7,663 Thereafter 5,097 30,888 35,985 0 35,985 Undiscounted Cash Flows $ 11,716 $ 77,684 $ 89,400 $ 188 $ 89,588 Less: imputed interest (3,769 ) (25,377 ) (29,146 ) (12 ) (29,158 ) Total $ 7,947 $ 52,307 $ 60,254 $ 176 $ 60,430 Reconciliation to lease liabilities: Lease liabilities - current $ 999 $ 7,698 $ 8,697 $ 65 $ 8,762 Lease liabilities - long-term 6,948 44,609 51,557 111 51,668 Total Lease Liabilities $ 7,947 $ 52,307 $ 60,254 $ 176 $ 60,430

Broadcast Licenses (Tables)

Broadcast Licenses (Tables)	3 Months Ended
	Mar. 31, 2020
Indefinite-lived Intangible Assets [Line Items]
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. Broadcast Licenses Twelve Months Ended Three Months Ended March 31, 2020 (Dollars in thousands) Balance before cumulative loss on impairment, beginning of period $ 484,691 $ 441,143 Accumulated loss on impairment, beginning of period (108,375 ) (103,285 ) Balance after cumulative loss on impairment, beginning of period 376,316 337,858 Acquisitions of radio stations 617 — Acquisitions of FM translators and construction permits 35 — Capital projects 300 — Dispositions of radio stations (36,502 ) — Impairments based on the estimated fair value of broadcast licenses (2,908 ) (16,994 ) Balance, end of period after cumulative loss on impairment $ 337,858 $ 320,864 Balance, end of period before cumulative loss on impairment $ 441,143 $ 441,143 Accumulated loss on impairment, end of period (103,285 ) (120,279 ) Balance, end of period after cumulative loss on impairment $ 337,858 $ 320,864
Schedule of Interim Impairment Testing Under Start-Up Income Approach	The table below presents the results of our interim impairment testing under the start-up Market Cluster Excess Fair Value Boston, MA 4.8 % Chicago, IL (9.0 %) Cleveland, OH (18.4 %) Dallas, TX 8.5 % Louisville, KY (21.8 %) New York, NY 7.3 % Philadelphia, PA (13.1 %) Portland, OR (14.8 %) Sacramento, CA (9.6 %) San Francisco, CA 1.2 % Tampa, FL (28.0 %)
Broadcast Licenses [Member]
Indefinite-lived Intangible Assets [Line Items]
Schedule of Estimates and Assumptions Used in the Start - Up Income Valuation for Broadcast Licenses	The key estimates and assumptions used in the start-up Broadcast Licenses December 31, 2019 March 31, 2020 Risk-adjusted discount rate 9.0% 9.5% Operating profit margin ranges 4.0% - 33.8% 4.6% - 33.8% Long-term revenue growth rates 0.7% - 1.1% 0.8% - 1.1%

Goodwill (Tables)

Goodwill (Tables)	3 Months Ended
	Mar. 31, 2020
Schedule of Changes in Goodwill	The following table presents the changes in goodwill including business acquisitions and dispositions as discussed in Note 3 of our Condensed Consolidated Financial Statements. Goodwill Twelve Months Ended Three Months Ended (Dollars in thousands) Balance, beginning of period before cumulative loss on impairment, $ 28,818 $ 28,454 Accumulated loss on impairment (2,029 ) (4,456 ) Balance, beginning of period after cumulative loss on impairment 26,789 23,998 Acquisitions of radio stations — — Acquisitions of digital media entities 6 — Disposition of radio stations (29 ) — Disposition of digital media entities (341 ) — Impairments based on the estimated fair value goodwill (2,427 ) (307 ) Ending period balance $ 23,998 $ 23,691 Balance, end of period before cumulative loss on impairment 28,454 28,454 Accumulated loss on impairment (4,456 ) (4,763 ) Ending period balance $ 23,998 $ 23,691
Schedule of Assumptions Used	The key estimates and assumptions used for our enterprise valuations for the reporting units subject to testing are as follows: Publishing Enterprise Valuations December 31, 2019 March 31, 2020 Risk adjusted discount rate 10.0% 10.5% Operating margin ranges 1.5% – 3.9% 0.0% – 3.9% Long-term revenue growth rates 0.5% 0.5%

Other Indefinite-Lived Intang_2

Other Indefinite-Lived Intangible Assets (Tables)	3 Months Ended
	Mar. 31, 2020
Text Block [Abstract]
Key Estimates and Assumptions	The key estimates and assumptions are as follows: Mastheads December 31, 2019 March 31, 2020 Risk-adjusted discount rate 10.0% 10.5% Long-term revenue growth rates (4.0%) – (1.0%) (1.0%) – (25.0%) Royalty rate 3.00% 3.00%

Amortizable Intangible Assets (

Amortizable Intangible Assets (Tables)	3 Months Ended
	Mar. 31, 2020
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: As of March 31, 2020 Accumulated Cost Amortization Net (Dollars in thousands) Customer lists and contracts $ 23,833 $ (22,076 ) $ 1,757 Domain and brand names 20,332 (18,101 ) 2,231 Favorable and assigned leases 2,188 (1,929 ) 259 Subscriber base and lists 9,886 (8,494 ) 1,392 Author relationships 2,771 (2,648 ) 123 Non-compete 2,041 (1,838 ) 203 Other amortizable intangible assets 1,666 (1,518 ) 148 $ 62,717 $ (56,604 ) $ 6,113 As of December 31, 2019 Accumulated Cost Amortization Net (Dollars in thousands) Customer lists and contracts $ 23,833 $ (21,823 ) $ 2,010 Domain and brand names 20,332 (17,727 ) 2,605 Favorable and assigned leases 2,188 (1,920 ) 268 Subscriber base and lists 9,886 (8,251 ) 1,635 Author relationships 2,771 (2,609 ) 162 Non-compete 2,041 (1,798 ) 243 Other amortizable intangible assets 1,666 (1,489 ) 177 $62,717 $(55,617) $7,100
Amortizable Intangible Assets, Estimate Amortization Expense	Based on the amortizable intangible assets as of March 31, 2020, we estimate amortization expense for the next five years to be as follows: Year Ended December 31, Amortization Expense (Dollars in thousands) 2020 (Apr – Dec) $ 2,278 2021 1,782 2022 1,146 2023 627 2024 78 Thereafter 202 Total $ 6,113

Long-Term Debt (Tables)

Long-Term Debt (Tables)	3 Months Ended
	Mar. 31, 2020
Debt Disclosure [Abstract]
Schedule of Debt Instruments Senior Secured Note	Based on the then existing market conditions, we completed repurchases of our 6.75% Senior Secured Notes at amounts less than face value as follows: Date Principal Cash Paid % of Face Bond Issue Net Gain (Dollars in thousands) January 30, 2020 $ 2,250 $ 2,194 97.50 % $ 35 $ 22 January 27, 2020 1,245 1,198 96.25 % 19 27 December 27, 2019 3,090 2,874 93.00 % 48 167 November 27, 2019 5,183 4,548 87.75 % 82 553 November 15, 2019 3,791 3,206 84.58 % 61 524 March 28, 2019 2,000 1,830 91.50 % 37 134 March 28, 2019 2,300 2,125 92.38 % 42 133 February 20, 2019 125 114 91.25 % 2 9 February 19, 2019 350 319 91.25 % 7 24 February 12, 2019 1,325 1,209 91.25 % 25 91 January 10, 2019 570 526 92.25 % 9 35 December 21, 2018 2,000 1,835 91.75 % 38 127 December 21, 2018 1,850 1,702 92.00 % 35 113 December 21, 2018 1,080 999 92.50 % 21 60 November 17, 2018 1,500 1,357 90.50 % 29 114 May 4, 2018 4,000 3,770 94.25 % 86 144 April 10, 2018 4,000 3,850 96.25 % 87 63 April 9, 2018 2,000 1,930 96.50 % 43 27 $ 38,659 $ 35,586 $ 706 $ 2,367
Long-Term Debt	Long-term debt consisted of the following: As of As of March 31, 2020 (Dollars in thousands) 6.75% Senior Secured Notes $ 219,836 $ 216,341 Less unamortized debt issuance costs based on imputed interest rate of 7.08% (3,368 ) (3,129 ) 6.75% Senior Secured Notes net carrying value 216,468 213,212 Asset-Based Revolving Credit Facility principal outstanding 12,426 14,000 Long-term debt less unamortized debt issuance costs $ 228,894 $ 227,212 Less current portion (12,426 ) (14,000 ) Long-term debt less unamortized debt issuance costs, net of current portion $ 216,468 $ 213,212
Principle Repayment Requirements Under Long Term Agreements Outstanding	Principal repayment requirements under all long-term debt agreements outstanding at March 31, 2020 for each of the next five years and thereafter are as follows: Amount For the Year Ended March 31, (Dollars in thousands) 2021 $ 14,000 2022 — 2023 — 2024 — 2025 216,341 Thereafter — $ 230,341

Fair Value Measurements and D_2

Fair Value Measurements and Disclosures (Tables)	3 Months Ended
	Mar. 31, 2020
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: March 31, 2020 Carrying Value on Fair Value Measurement Category Level 1 Level 2 Level 3 (Dollars in thousands) Assets Estimated fair value of other indefinite-lived intangible assets $ — — — $ — Liabilities: Estimated fair value of contingent earn-out 14 — — 14 Long-term debt less unamortized debt issuance costs 227,212 — 184,042 —

Stock Incentive Plan (Tables)

Stock Incentive Plan (Tables)	3 Months Ended
	Mar. 31, 2020
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 month periods ended March 31, 2020 and 2019: Three Months Ended March 31, 2019 2020 (Dollars in thousands) Stock option compensation expense included in corporate expenses $ 107 $ 50 Stock option compensation expense included in broadcast operating expenses 39 37 Stock option compensation expense included in digital media operating expenses 26 15 Stock option compensation expense included in publishing operating expenses 4 1 Total stock-based compensation expense, pre-tax $ 176 $ 103 Tax benefit (expense) for stock-based compensation expense (46 ) (27 ) Total stock-based compensation expense, net of tax $ 130 $ 76
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 month periods ended March 31, 2020 and 2019: Three Months Ended Three Months Ended March 31, 2019 March 31, 2020 Expected volatility 47.54 % 53.96 % Expected dividends 9.22 % 7.30 % Expected term (in years) 7.5 7.6 Risk-free interest rate 2.61 % 1.14 %
Schedule of Stock Option Activity	Activity with respect to the Company’s option awards during the three month period ended March 31, 2020 is as follows: Options Shares Weighted Weighted Weighted Average Aggregate (Dollars in thousands, except weighted average exercise price and weighted Outstanding at January 1, 2020 1,860,722 $ 4.63 $ 2.61 4.1 years $ — Granted 743,000 1.37 0.35 — Exercised — — — — Forfeited or expired (212,925 ) 6.43 4.35 $ — Outstanding at March 31, 2020 2,390,797 $ 3.27 $ 1.56 4.9 years $ — Exercisable at March 31, 2020 1,140,047 $ 4.62 $ 2.37 2.7 years $ — Expected to Vest 1,187,587 $ 3.30 $ 1.58 4.9 years $ —
Schedule of Information Regarding Restricted Stock Activity	Activity with respect to the Company’s restricted stock awards during the three month period ended March 31, 2020 is as follows: Restricted Stock Awards Shares Weighted Average Weighted Average Aggregate (Dollars in thousands, except weighted average exercise price and weighted average Outstanding at January 1, 2020 107,990 $ 1.85 1.67 years $ 156 Granted — — — — Lapsed — — — — Forfeited — — — — Outstanding at March 31, 2020 107,990 $ 1.85 1.42 years $ 93

Equity Transactions (Tables)

Equity Transactions (Tables)	3 Months Ended
	Mar. 31, 2020
Schedule Of Equity [Line Items]
Schedule of Cash Distributions Declared and Paid	The following table shows distributions that have been declared and paid since January 1, 2019: Announcement Date Payment Date Amount Per Share Cash Distributed ( in thousands ) March 10, 2020 March 31, 2020 $ 0.0250 $ 667 December 10, 2019 December 30, 2019 $ 0.0250 667 September 11, 2019 September 30, 2019 $ 0.0650 1,730 May 14, 2019 June 28, 2019 $ 0.0650 1,728 March 7, 2019 March 29, 2019 $ 0.0650 1,702

Segment Data (Tables)

Segment Data (Tables)	3 Months Ended
	Mar. 31, 2020
Segment Reporting [Abstract]
Schedule of Segment Data	The table below presents financial information for each operating segment as of March 31, 2020 and 2019 based on the composition of our operating segments: Broadcast Digital Publishing Unallocated Consolidated (Dollars in thousands) Three Months Ended March 31, 2020 Net revenue $ 45,180 $ 9,104 $ 3,966 $ — $ 58,250 Operating expenses 37,327 8,326 5,062 4,210 54,925 Net operating income (loss) before depreciation, amortization, change in the estimated fair value of contingent earn-out $ 7,853 $ 778 $ (1,096 ) $ (4,210 ) $ 3,325 Depreciation 1,645 771 69 228 2,713 Amortization 9 768 210 — 987 Change in the estimated fair value of contingent earn-out — (5 ) — — (5 ) Impairment of indefinite-lived long-term assets other than goodwill 16,994 — 260 — 17,254 Impairment of goodwill 184 10 105 8 307 Net (gain) loss on the disposition of assets 79 — — — 79 Net operating income (loss) $ (11,058 ) $ (766 ) $ (1,740 ) $ (4,446 ) $ (18,010 ) Three Months Ended March 31, 2019 Net revenue $ 46,093 $ 10,240 $ 4,136 $ — $ 60,469 Operating expenses 36,449 8,058 4,822 3,871 53,200 Net operating income (loss) before depreciation, amortization and net (gain) loss on the disposition of assets $ 9,644 $ 2,182 $ (686 ) $ (3,871 ) $ 7,269 Depreciation 1,860 774 116 183 2,933 Amortization 9 1,075 212 — 1,296 Net (gain) loss on the disposition of assets 3,783 239 — 2 4,024 Net operating income (loss) $ 3,992 $ 94 $ (1,014 ) $ (4,056 ) $ (984 ) Broadcast Digital Publishing Unallocated Consolidated (Dollars in thousands) As of March 31, 2020 Inventories, net $ — $ — $ 647 $ — $ 647 Property and equipment, net 71,685 6,040 807 8,098 86,630 Broadcast licenses 320,864 — — — 320,864 Goodwill 2,746 19,499 1,446 — 23,691 Other indefinite-lived intangible assets — — — — — Amortizable intangible assets, net 260 4,885 967 1 6,113 As of December 31, 2019 Inventories, net $ — $ — $ 717 $ — $ 717 Property and equipment, net 72,816 6,127 801 7,929 87,673 Broadcast licenses 337,858 — — — 337,858 Goodwill 2,930 19,509 1,551 8 23,998 Other indefinite-lived intangible assets — — 260 — 260 Amortizable intangible assets, net 268 5,653 1,178 1 7,100

Basis of Presentation - Additio

Basis of Presentation - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2020Segments
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of operating segments	3

Recent Transactions - Debt Tran

Recent Transactions - Debt Transactions - Additional Information (Detail) $ in Thousands	3 Months Ended
	Mar. 31, 2020USD ($)
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Principal repurchased	$ 3,500
Cash paid	3,400
Net gain	$ 49,000
Debt instrument, interest rate	6.75%

Recent Transactions - Equity Tr

Recent Transactions - Equity Transactions - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Payments of equity distributions, common stock	$ 667	$ 1,702
Dividend Paid [Member]
Amount Per Share	$ 0.025

Recent Transactions - Pending T

Recent Transactions - Pending Transactions -Additional Information (Detail) - USD ($) $ in Thousands	Feb. 05, 2020	Oct. 31, 2019	Mar. 31, 2020	Dec. 31, 2019	Mar. 31, 2019
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Agreement to sell business			$ 2		$ 1,255
Radio Stations [Member]
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Agreement to sell business	$ 4,000	$ 200
Pretax loss on sale of assets				$ 1,500
Credit applied to the sale price	$ 250,000
Time brokerage agreement fees			2,000
Line of credit facility, option payment			450,000
Loss on sales			500
Loss on sale of Loans met taxes			$ 300

Contingent Earn-Out Considera_2

Contingent Earn-Out Consideration - Additional Information (Detail) - USD ($)	3 Months Ended
	Mar. 31, 2020	Dec. 31, 2019
Business Acquisition, Contingent Consideration [Line Items]
Estimated contingent earn-out	$ 14,000	$ 19,000
Increase (Decrease) in contingent earn-out liabilities	5,000
Cash payments for contingent earn-out consideration	$ 0

Revenue Recognition - Additiona

Revenue Recognition - Additional Information (Detail) $ in Millions	3 Months Ended
	Mar. 31, 2020USD ($)Segments
Disaggregation of Revenue [Line Items]
Prepaid commission expense | $	$ 0.5
Number of operating segments | Segments	3
Minimum [Member]
Disaggregation of Revenue [Line Items]
Sale of subscription revenue term	3 months
Maximum [Member]
Disaggregation of Revenue [Line Items]
Sale of subscription revenue term	2 years

Revenue Recognition - Significa

Revenue Recognition - Significant Changes in Our Contract Liabilities (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Dec. 31, 2019
Change in Contract with Customer, Liability [Abstract]
Short Term, Balance, beginning of period	$ 9,493
Short Term, Revenue recognized during the period that was included in the beginning balance of contract liabilities	(3,042)
Short Term, Additional amounts recognized during the period	5,196
Short Term, Revenue recognized during the period that was recorded during the period	(2,308)
Short Term, Transfers	291
Short Term, Balance, end of period	9,630
Short Term, Amount refundable	9,541	$ 9,403
Long-Term, Balance, beginning of period	1,744
Long-Term, Additional amounts recognized during the period	287
Long-Term, Transfers	(291)
Long-Term, Balance, end of period	1,740
Long-Term, Amount refundable	$ 1,740	$ 1,744

Revenue Recognition - Revenue,

Revenue Recognition - Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction (Detail) $ in Thousands	Mar. 31, 2020USD ($)
Disaggregation of Revenue [Line Items]
Revenue, Remaining Performance Obligation	$ 11,370
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-01-01
Disaggregation of Revenue [Line Items]
Revenue, Remaining Performance Obligation	$ 9,630
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction	1 month
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-01-01
Disaggregation of Revenue [Line Items]
Revenue, Remaining Performance Obligation	$ 998
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction	1 month
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01
Disaggregation of Revenue [Line Items]
Revenue, Remaining Performance Obligation	$ 378
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction	1 month
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01
Disaggregation of Revenue [Line Items]
Revenue, Remaining Performance Obligation	$ 173
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction	1 month
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01
Disaggregation of Revenue [Line Items]
Revenue, Remaining Performance Obligation	$ 75
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction	1 month
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01
Disaggregation of Revenue [Line Items]
Revenue, Remaining Performance Obligation	$ 116
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction	1 month

Revenue Recognition - Trade and

Revenue Recognition - Trade and Barter Transactions Expenses (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Revenue Recognition [Line Items]
Total net revenue	$ 58,250	$ 60,469
Broadcast [Member] | Advertising Barter Transactions [Member]
Revenue Recognition [Line Items]
Total net revenue	1,166	1,299
Cost	1,034	1,356
Publishing [Member]
Revenue Recognition [Line Items]
Total net revenue	3,966	4,136
Publishing [Member] | Advertising Barter Transactions [Member]
Revenue Recognition [Line Items]
Total net revenue	$ 26	$ 11

Revenue Recognition - Reconcili

Revenue Recognition - Reconciliation of Revenue from Segments to Consolidated (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Disaggregation of Revenue [Line Items]
Revenue, Net	$ 58,250	$ 60,469
Block Programming National [Member]
Disaggregation of Revenue [Line Items]
Revenue, Net	12,034	12,233
Block Programming Local [Member]
Disaggregation of Revenue [Line Items]
Revenue, Net	6,808	7,910
Spot Advertising - National [Member]
Disaggregation of Revenue [Line Items]
Revenue, Net	3,957	3,900
Spot Advertising - Local [Member]
Disaggregation of Revenue [Line Items]
Revenue, Net	11,357	12,062
Infomercials [Member]
Disaggregation of Revenue [Line Items]
Revenue, Net	308	390
Network [Member]
Disaggregation of Revenue [Line Items]
Revenue, Net	4,388	4,306
Digital Advertising [Member]
Disaggregation of Revenue [Line Items]
Revenue, Net	8,138	7,754
Digital Streaming [Member]
Disaggregation of Revenue [Line Items]
Revenue, Net	1,523	1,172
Digital Downloads and eBooks [Member]
Disaggregation of Revenue [Line Items]
Revenue, Net	1,499	1,437
Subscriptions [Member]
Disaggregation of Revenue [Line Items]
Revenue, Net	2,594	2,559
Book Sales and e-commerce, net of estimated sales returns and allowances [Member]
Disaggregation of Revenue [Line Items]
Revenue, Net	1,827	2,288
Self-Publishing Fees [Member]
Disaggregation of Revenue [Line Items]
Revenue, Net	1,402	1,477
Print Advertising [Member]
Disaggregation of Revenue [Line Items]
Revenue, Net	103	137
Other Revenues [Member]
Disaggregation of Revenue [Line Items]
Revenue, Net	2,312	2,844
Transferred at Point in Time [Member]
Disaggregation of Revenue [Line Items]
Revenue, Net	57,633	59,833
Rental Income [Member]
Disaggregation of Revenue [Line Items]
Revenue, Net	617	636
Broadcast [Member]
Disaggregation of Revenue [Line Items]
Revenue, Net	45,180	46,093
Broadcast [Member] | Block Programming National [Member]
Disaggregation of Revenue [Line Items]
Revenue, Net	12,034	12,233
Broadcast [Member] | Block Programming Local [Member]
Disaggregation of Revenue [Line Items]
Revenue, Net	6,808	7,910
Broadcast [Member] | Spot Advertising - National [Member]
Disaggregation of Revenue [Line Items]
Revenue, Net	3,957	3,900
Broadcast [Member] | Spot Advertising - Local [Member]
Disaggregation of Revenue [Line Items]
Revenue, Net	11,357	12,062
Broadcast [Member] | Infomercials [Member]
Disaggregation of Revenue [Line Items]
Revenue, Net	308	390
Broadcast [Member] | Network [Member]
Disaggregation of Revenue [Line Items]
Revenue, Net	4,388	4,306
Broadcast [Member] | Digital Advertising [Member]
Disaggregation of Revenue [Line Items]
Revenue, Net	3,326	2,352
Broadcast [Member] | Digital Streaming [Member]
Disaggregation of Revenue [Line Items]
Revenue, Net	608	161
Broadcast [Member] | Subscriptions [Member]
Disaggregation of Revenue [Line Items]
Revenue, Net	282	274
Broadcast [Member] | Book Sales and e-commerce, net of estimated sales returns and allowances [Member]
Disaggregation of Revenue [Line Items]
Revenue, Net	76	37
Broadcast [Member] | Print Advertising [Member]
Disaggregation of Revenue [Line Items]
Revenue, Net	1	2
Broadcast [Member] | Other Revenues [Member]
Disaggregation of Revenue [Line Items]
Revenue, Net	2,035	2,466
Broadcast [Member] | Transferred at Point in Time [Member]
Disaggregation of Revenue [Line Items]
Revenue, Net	44,563	45,472
Broadcast [Member] | Rental Income [Member]
Disaggregation of Revenue [Line Items]
Revenue, Net	617	621
Digital [Member]
Disaggregation of Revenue [Line Items]
Revenue, Net	9,104	10,240
Digital [Member] | Digital Advertising [Member]
Disaggregation of Revenue [Line Items]
Revenue, Net	4,713	5,317
Digital [Member] | Digital Streaming [Member]
Disaggregation of Revenue [Line Items]
Revenue, Net	915	1,011
Digital [Member] | Digital Downloads and eBooks [Member]
Disaggregation of Revenue [Line Items]
Revenue, Net	1,245	1,275
Digital [Member] | Subscriptions [Member]
Disaggregation of Revenue [Line Items]
Revenue, Net	2,135	2,084
Digital [Member] | Book Sales and e-commerce, net of estimated sales returns and allowances [Member]
Disaggregation of Revenue [Line Items]
Revenue, Net	28	410
Digital [Member] | Other Revenues [Member]
Disaggregation of Revenue [Line Items]
Revenue, Net	68	143
Digital [Member] | Transferred at Point in Time [Member]
Disaggregation of Revenue [Line Items]
Revenue, Net	9,104	10,225
Digital [Member] | Rental Income [Member]
Disaggregation of Revenue [Line Items]
Revenue, Net		15
Publishing [Member]
Disaggregation of Revenue [Line Items]
Revenue, Net	3,966	4,136
Publishing [Member] | Digital Advertising [Member]
Disaggregation of Revenue [Line Items]
Revenue, Net	99	85
Publishing [Member] | Digital Downloads and eBooks [Member]
Disaggregation of Revenue [Line Items]
Revenue, Net	254	162
Publishing [Member] | Subscriptions [Member]
Disaggregation of Revenue [Line Items]
Revenue, Net	177	201
Publishing [Member] | Book Sales and e-commerce, net of estimated sales returns and allowances [Member]
Disaggregation of Revenue [Line Items]
Revenue, Net	1,723	1,841
Publishing [Member] | Self-Publishing Fees [Member]
Disaggregation of Revenue [Line Items]
Revenue, Net	1,402	1,477
Publishing [Member] | Print Advertising [Member]
Disaggregation of Revenue [Line Items]
Revenue, Net	102	135
Publishing [Member] | Other Revenues [Member]
Disaggregation of Revenue [Line Items]
Revenue, Net	209	235
Publishing [Member] | Transferred at Point in Time [Member]
Disaggregation of Revenue [Line Items]
Revenue, Net	$ 3,966	$ 4,136

Inventories - Schedule of Inven

Inventories - Schedule of Inventory on Hand by Segment (Detail) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Inventory [Line Items]
Reserve for obsolescence	$ (1,431)	$ (1,271)
Inventories, net	647	717
Regnery Publishing [Member]
Inventory [Line Items]
Inventories, gross	2,078	1,988
Reserve for obsolescence	(1,431)	(1,271)
Inventories, net	$ 647	$ 717

Property and Equipment - Summar

Property and Equipment - Summary of Categories of Property and Equipment (Detail) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross, Total	$ 261,842	$ 260,795
Less accumulated depreciation	(175,212)	(173,122)
Property, Plant and Equipment, Net, Total	86,630	87,673
Land [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross, Total	30,951	30,936
Building [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross, Total	30,283	30,283
Office Furnishings and Equipment [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross, Total	37,215	36,855
Antennae, Towers and Transmitting Equipment [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross, Total	78,423	78,312
Studio, Production and Mobile Equipment [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross, Total	29,713	30,164
Computer Software and Website Development Costs [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross, Total	30,587	29,595
Record and Tape Libraries [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross, Total	17	17
Automobiles [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross, Total	1,556	1,509
Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross, Total	18,983	18,834
Construction in Progress [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross, Total	$ 4,114	$ 4,290

Property and Equipment - Additi

Property and Equipment - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Property, Plant and Equipment [Abstract]
Depreciation expense	$ 2.7	$ 2.9

Operating and Finance Lease R_3

Operating and Finance Lease Right-of-Use Assets - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2020
Operating lease, existence of option to extend	true
Operating lease, option to extend	Many of these leases contain options under which we can extend the term from five to twenty years.
Finance lease, existence of option to extend	true
Finance lease, option to extend	Many of these leases contain options under which we can extend the term from five to twenty years.
Minimum [Member]
Operating lease, remaining lease term	1 year
Operating lease, extension term	5 years
Finance lease, extension term	5 years
Maximum [Member]
Operating lease, remaining lease term	20 years
Operating lease, extension term	20 years
Finance lease, extension term	20 years

Operating and Finance Lease R_4

Operating and Finance Lease Right-of-Use Assets - Supplemental Balance Sheet Information Related to Leases (Detail) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Lessee, Lease, Description [Line Items]
Operating leases ROU assets	$ 52,425	$ 54,550
Operating lease liabilities (current)	8,697	8,485
Operating lease liabilities (non-current)	51,557	$ 54,050
Total operating lease liabilities	$ 60,254
Weighted Average Remaining Lease Term, Operating leases	8 years 7 months 6 days
Weighted Average Remaining Lease Term, Finance leases	3 years 2 months 12 days
Weighted Average Discount Rate, Operating leases	8.22%
Weighted Average Discount Rate, Finance leases	4.60%
Related Party Lease [Member]
Lessee, Lease, Description [Line Items]
Operating leases ROU assets	$ 7,708
Operating lease liabilities (current)	999
Operating lease liabilities (non-current)	6,948
Total operating lease liabilities	7,947
Other Operating Leases [Member]
Lessee, Lease, Description [Line Items]
Operating leases ROU assets	44,717
Operating lease liabilities (current)	7,698
Operating lease liabilities (non-current)	44,609
Total operating lease liabilities	$ 52,307

Operating and Finance Lease R_5

Operating and Finance Lease Right-of-Use Assets - Components of Lease Expense (Detail) $ in Thousands	3 Months Ended
	Mar. 31, 2020USD ($)
Leases [Abstract]
Amortization of finance lease ROU Assets	$ 18
Interest on finance lease liabilities	2
Finance lease expense	20
Operating lease expense	3,473
Variable lease expense	205
Short-term lease expense	155
Total lease expense	$ 3,853

Operating and Finance Lease R_6

Operating and Finance Lease Right-of-Use Assets - Schedule of Impact to Financial Statements of the Adoption of ASU 842 (Detail) $ in Thousands	3 Months Ended
	Mar. 31, 2020USD ($)
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$ 3,636
Operating cash flows from finance leases	2
Financing cash flows from finance leases	18
Leased assets obtained in exchange for new operating lease liabilities	575
Leased assets obtained in exchange for new finance lease liabilities	$ 0

Operating and Finance Lease R_7

Operating and Finance Lease Right-of-Use Assets - Summary of Future Lease Payments (Detail) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Lessee, Lease, Description [Line Items]
Operating Leases, 2020	$ 10,679
Operating Leases, 2021	13,235
Operating Leases, 2022	11,680
Operating Leases, 2023	10,165
Operating Leases, 2024	7,656
Operating Leases, Thereafter	35,985
Undiscounted Cash Flows	89,400
Less: imputed interest	(29,146)
Reconciliation to lease liabilities:
Lease liabilities - current	8,697	$ 8,485
Lease liabilities - long-term	51,557	54,050
Total operating lease liabilities	60,254
Finance Leases, 2020	55
Finance Leases, 2021	55
Finance Leases, 2022	46
Finance Leases, 2023	25
Finance Leases, 2024	7
Finance Leases, Thereafter	0
Finance Leases, Undiscounted Cash Flows	188
Less: Finance Leases, imputed interest	(12)
Finance Leases, Reconciliation to lease liabilities:
Finance Leases, Lease liabilities - current	65	69
Finance Leases, Lease liabilities - long-term	111	$ 124
Total Finance Lease Liabilities	176
Contractual Obligations, 2020	10,734
Contractual Obligations, 2021	13,290
Contractual Obligations, 2022	11,726
Contractual Obligations, 2023	10,190
Contractual Obligations, 2024	7,663
Contractual Obligations, Thereafter	35,985
Contractual Obligations, Undiscounted Cash Flows	89,588
Less: Contractual Obligations, imputed interest	(29,158)
Contractual Obligations, Reconciliation to lease liabilities:
Contractual Obligations, Lease liabilities - current	8,762
Contractual Obligations, Lease liabilities - long-term	51,668
Total Contractual Obligations, Lease Liabilities	60,430
Related Party Lease [Member]
Lessee, Lease, Description [Line Items]
Operating Leases, 2020	1,203
Operating Leases, 2021	1,619
Operating Leases, 2022	1,613
Operating Leases, 2023	1,169
Operating Leases, 2024	1,015
Operating Leases, Thereafter	5,097
Undiscounted Cash Flows	11,716
Less: imputed interest	(3,769)
Reconciliation to lease liabilities:
Lease liabilities - current	999
Lease liabilities - long-term	6,948
Total operating lease liabilities	7,947
Other Operating Leases [Member]
Lessee, Lease, Description [Line Items]
Operating Leases, 2020	9,476
Operating Leases, 2021	11,616
Operating Leases, 2022	10,067
Operating Leases, 2023	8,996
Operating Leases, 2024	6,641
Operating Leases, Thereafter	30,888
Undiscounted Cash Flows	77,684
Less: imputed interest	(25,377)
Reconciliation to lease liabilities:
Lease liabilities - current	7,698
Lease liabilities - long-term	44,609
Total operating lease liabilities	$ 52,307

Broadcast Licenses - Additional

Broadcast Licenses - Additional Information (Detail) $ in Thousands	3 Months Ended
	Mar. 31, 2020USD ($)
Indefinite-lived Intangible Assets [Line Items]
Impairment charge	$ 17,254
Broadcast Licenses [Member]
Indefinite-lived Intangible Assets [Line Items]
License renewable term	8 years
Impairment charge	$ 17,000

Broadcast Licenses - Schedule o

Broadcast Licenses - Schedule of Changes in Broadcasting Licenses (Detail) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2020	Dec. 31, 2019
Indefinite-lived Intangible Assets [Line Items]
Balance before cumulative loss on impairment, beginning of period	$ 441,143	$ 484,691
Accumulated loss on impairment, beginning of period	(103,285)	(108,375)
Balance after cumulative loss on impairment, beginning of period	337,858	376,316
Impairments based on the estimated fair value of broadcast licenses	(16,994)	(2,908)
Balance, end of period before cumulative loss on impairment	441,143	441,143
Accumulated loss on impairment, end of period	(120,279)	(103,285)
Balance, end of period after cumulative loss on impairment	$ 320,864	337,858
Radio Stations [Member]
Indefinite-lived Intangible Assets [Line Items]
Acquisitions of FM translators and construction permits		617
Dispositions of radio stations		(36,502)
FM Translators [Member]
Indefinite-lived Intangible Assets [Line Items]
Acquisitions of FM translators and construction permits		35
Capital Projects [Member]
Indefinite-lived Intangible Assets [Line Items]
Acquisitions of FM translators and construction permits		$ 300

Broadcast Licenses - Fair Value

Broadcast Licenses - Fair Value Measurement Inputs and Valuation Techniques for Broadcast Licenses (Detail) - Broadcast Licenses [Member]	Mar. 31, 2020	Dec. 31, 2019
Measurement Input, Risk-adjusted Discount Rate [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Intangible asset measurement input percentage	9.5	9
Minimum [Member] | Measurement Input, Operating Profit Margin [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Intangible asset measurement input percentage	4.6	4
Minimum [Member] | Measurement Input, Long-term Revenue Growth Rate [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Intangible asset measurement input percentage	0.8	0.7
Maximum [Member] | Measurement Input, Operating Profit Margin [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Intangible asset measurement input percentage	33.8	33.8
Maximum [Member] | Measurement Input, Long-term Revenue Growth Rate [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Intangible asset measurement input percentage	1.1	1.1

Broadcast Licenses - Results of

Broadcast Licenses - Results of Impairment Testing of Broadcast Licenses Under Income Approach (Detail)	3 Months Ended
	Mar. 31, 2020
Boston MA [Member]
Goodwill And Other Intangible Assets [Line Items]
Excess fair value estimate	4.80%
Chicago IL [Member]
Goodwill And Other Intangible Assets [Line Items]
Excess fair value estimate	(9.00%)
Cleveland OH [Member]
Goodwill And Other Intangible Assets [Line Items]
Excess fair value estimate	(18.40%)
Louisville KY [Member]
Goodwill And Other Intangible Assets [Line Items]
Excess fair value estimate	(21.80%)
Philadelphia PA [Member]
Goodwill And Other Intangible Assets [Line Items]
Excess fair value estimate	(13.10%)
Portland OR [Member]
Goodwill And Other Intangible Assets [Line Items]
Excess fair value estimate	(14.80%)
Sacramento CA [Member]
Goodwill And Other Intangible Assets [Line Items]
Excess fair value estimate	(9.60%)
San Francisco Ca [Member]
Goodwill And Other Intangible Assets [Line Items]
Excess fair value estimate	1.20%
Tampa FL [Member]
Goodwill And Other Intangible Assets [Line Items]
Excess fair value estimate	(28.00%)
Dallas TX [Member]
Goodwill And Other Intangible Assets [Line Items]
Excess fair value estimate	8.50%
New York NY [Member]
Goodwill And Other Intangible Assets [Line Items]
Excess fair value estimate	7.30%

Goodwill - Fair Value Measureme

Goodwill - Fair Value Measurement Inputs and Valuation Techniques For Goodwill (Detail) - Publishing [Member]	Mar. 31, 2020	Dec. 31, 2019
Measurement Input Risk Adjusted Discount Rate [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Intangible asset measurement input percentage	10.5	10
Measurement Input, Long-term Revenue Growth Rate [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Intangible asset measurement input percentage	0.5	0.5
Minimum [Member] | Measurement Input Operating Profit Margin [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Intangible asset measurement input percentage	0	1.5
Maximum [Member] | Measurement Input Operating Profit Margin [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Intangible asset measurement input percentage	3.9	3.9

Goodwill - Schedule of Changes

Goodwill - Schedule of Changes in Goodwill (Detail) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2020	Dec. 31, 2019
Goodwill [Line Items]
Balance, beginning of period before cumulative loss on impairment	$ 28,454	$ 28,818
Accumulated loss on impairment	(4,456)	(2,029)
Balance, beginning of period after cumulative loss on impairment	23,998	26,789
Impairments based on the estimated fair value goodwill	(307)	(2,427)
Balance, end of period before cumulative loss on impairment	28,454	28,454
Accumulated loss on impairment	(4,763)	(4,456)
Ending period balance	$ 23,691	23,998
Radio Stations [Member]
Goodwill [Line Items]
Goodwill, Written off Related to Sale of Business Unit		(29)
Digital Media [Member]
Goodwill [Line Items]
Acquisitions		6
Goodwill, Written off Related to Sale of Business Unit		$ (341)

Goodwill - Additional Informati

Goodwill - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2020	Dec. 31, 2019
Impairment of goodwill	$ 307	$ 2,427
Broad Cast Markets Due to Cost/Benefit [Member]
Impairment of goodwill	300
Publishing [Member]
Impairment of goodwill	$ 100

Other Indefinite-Lived Intang_3

Other Indefinite-Lived Intangible Assets - Fair Value Measurement Inputs and Valuation Techniques For Mastheads (Detail) - Mastheads [Member]	Mar. 31, 2020	Dec. 31, 2019
Measurement Input, Risk-adjusted Discount Rate [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Intangible asset measurement input percentage	10.5	10
Measurement Input, Long-term Revenue Growth Rate [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Intangible asset measurement input percentage	3	3
Minimum [Member] | Measurement Input, Operating Profit Margin [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Intangible asset measurement input percentage	(1)	(4)
Maximum [Member] | Measurement Input, Operating Profit Margin [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Intangible asset measurement input percentage	(25)	(1)

Other Indefinite-Lived Intang_4

Other Indefinite-Lived Intangible Assets - Additional Information (Detail) $ in Thousands	3 Months Ended
	Mar. 31, 2020USD ($)
Goodwill And Other Intangible Assets [Line Items]
Impairment of intangible assets, indefinite-lived (excluding goodwill)	$ 17,254
Goodwill and Mastheads [Member]
Goodwill And Other Intangible Assets [Line Items]
Impairment of intangible assets, indefinite-lived (excluding goodwill)	$ 300

Amortizable Intangible Assets -

Amortizable Intangible Assets - Summary of Significant Classes of Amortizable Intangible Assets (Detail) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Finite-Lived Intangible Assets [Line Items]
Cost	$ 62,717	$ 62,717
Accumulated Amortization	(56,604)	(55,617)
Net	6,113	7,100
Customer Lists and Contracts [Member]
Finite-Lived Intangible Assets [Line Items]
Cost	23,833	23,833
Accumulated Amortization	(22,076)	(21,823)
Net	1,757	2,010
Domain and Brand Names [Member]
Finite-Lived Intangible Assets [Line Items]
Cost	20,332	20,332
Accumulated Amortization	(18,101)	(17,727)
Net	2,231	2,605
Favorable and Assigned Leases [Member]
Finite-Lived Intangible Assets [Line Items]
Cost	2,188	2,188
Accumulated Amortization	(1,929)	(1,920)
Net	259	268
Subscriber Base and Lists [Member]
Finite-Lived Intangible Assets [Line Items]
Cost	9,886	9,886
Accumulated Amortization	(8,494)	(8,251)
Net	1,392	1,635
Author Relationships [Member]
Finite-Lived Intangible Assets [Line Items]
Cost	2,771	2,771
Accumulated Amortization	(2,648)	(2,609)
Net	123	162
Non-Compete Agreements [Member]
Finite-Lived Intangible Assets [Line Items]
Cost	2,041	2,041
Accumulated Amortization	(1,838)	(1,798)
Net	203	243
Other Amortizable Intangible Assets [Member]
Finite-Lived Intangible Assets [Line Items]
Cost	1,666	1,666
Accumulated Amortization	(1,518)	(1,489)
Net	$ 148	$ 177

Amortizable Intangible Assets_2

Amortizable Intangible Assets - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization of intangible assets	$ 1	$ 1.3

Amortizable Intangible Assets_3

Amortizable Intangible Assets - Amortizable Intangible Assets, Estimate Amortization Expense (Detail) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
2020 (Apr – Dec)	$ 2,278
2021	1,782
2022	1,146
2023	627
2024	78
Thereafter	202
Net	$ 6,113	$ 7,100

Long-Term Debt - 6.75% Senior S

Long-Term Debt - 6.75% Senior Secured Notes - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019	May 19, 2017
Debt Instrument [Line Items]
Interest payable, current	$ 4,902		$ 1,262
Debt related commitment fees and debt issuance costs	$ 6,300
Debt Instrument Redemption Period Two [Member]
Debt Instrument [Line Items]
Debt instrument, redemption, percentage of aggregate principal amount	35.00%
Debt instrument, redemption price, percentage of principal amount redeemed	106.75%
Debt Instrument Redemption Period Three [Member]
Debt Instrument [Line Items]
Debt instrument, redemption, percentage of aggregate principal amount	10.00%
Debt instrument, redemption price, percentage of principal amount redeemed	103.00%
Debt Instrument Redemption Period One [Member]
Debt Instrument [Line Items]
Debt instrument, redemption price, percentage of principal amount redeemed	100.00%
6.75% Senior Secured Notes [Member]
Debt Instrument [Line Items]
Debt instrument, interest rate, stated percentage	6.75%			6.75%
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%
Interest expense, debt	$ 14,600
Interest payable, current	4,900
Debt related commitment fees and debt issuance costs	$ 200	$ 200

Long - term Debt - Summary of R

Long - term Debt - Summary of Repurchase of Senior Secured Note (Detail) $ in Thousands	3 Months Ended
	Mar. 31, 2020USD ($)
Debt Instrument [Line Items]
Principal Repurchased	$ 3,500
Cash Paid	3,400
Net Gain	49,000
Senior Secured Note [Member]
Debt Instrument [Line Items]
Principal Repurchased	38,659
Cash Paid	35,586
Bond Issue Costs	706
Net Gain	$ 2,367
Senior Secured Note [Member] | Senior Secured Note Period One [Member]
Debt Instrument [Line Items]
Repurchase date	Jan. 30, 2020
Principal Repurchased	$ 2,250
Cash Paid	$ 2,194
Percent face value	97.50%
Bond Issue Costs	$ 35
Net Gain	$ 22
Senior Secured Note [Member] | Senior Secured Note Period Two [Member]
Debt Instrument [Line Items]
Repurchase date	Jan. 27, 2020
Principal Repurchased	$ 1,245
Cash Paid	$ 1,198
Percent face value	96.25%
Bond Issue Costs	$ 19
Net Gain	$ 27
Senior Secured Note [Member] | Senior Secured Note Period Three [Member]
Debt Instrument [Line Items]
Repurchase date	Dec. 27, 2019
Principal Repurchased	$ 3,090
Cash Paid	$ 2,874
Percent face value	93.00%
Bond Issue Costs	$ 48
Net Gain	$ 167
Senior Secured Note [Member] | Senior Secured Note Period Four [Member]
Debt Instrument [Line Items]
Repurchase date	Nov. 27, 2019
Principal Repurchased	$ 5,183
Cash Paid	$ 4,548
Percent face value	87.75%
Bond Issue Costs	$ 82
Net Gain	$ 553
Senior Secured Note [Member] | Senior Secured Note Period Five [Member]
Debt Instrument [Line Items]
Repurchase date	Nov. 15, 2019
Principal Repurchased	$ 3,791
Cash Paid	$ 3,206
Percent face value	84.58%
Bond Issue Costs	$ 61
Net Gain	$ 524
Senior Secured Note [Member] | Senior Secured Note Period Six [Member]
Debt Instrument [Line Items]
Repurchase date	Mar. 28, 2019
Principal Repurchased	$ 2,000
Cash Paid	$ 1,830
Percent face value	91.50%
Bond Issue Costs	$ 37
Net Gain	$ 134
Senior Secured Note [Member] | Senior Secured Note Period Seven [Member]
Debt Instrument [Line Items]
Repurchase date	Mar. 28, 2019
Principal Repurchased	$ 2,300
Cash Paid	$ 2,125
Percent face value	92.38%
Bond Issue Costs	$ 42
Net Gain	$ 133
Senior Secured Note [Member] | Senior Secured Note Period Eight [Member]
Debt Instrument [Line Items]
Repurchase date	Feb. 20, 2019
Principal Repurchased	$ 125
Cash Paid	$ 114
Percent face value	91.25%
Bond Issue Costs	$ 2
Net Gain	$ 9
Senior Secured Note [Member] | Senior Secured Note Period Nine [Member]
Debt Instrument [Line Items]
Repurchase date	Feb. 19, 2019
Principal Repurchased	$ 350
Cash Paid	$ 319
Percent face value	91.25%
Bond Issue Costs	$ 7
Net Gain	$ 24
Senior Secured Note [Member] | Senior Secured Note Period Ten [Member]
Debt Instrument [Line Items]
Repurchase date	Feb. 12, 2019
Principal Repurchased	$ 1,325
Cash Paid	$ 1,209
Percent face value	91.25%
Bond Issue Costs	$ 25
Net Gain	$ 91
Senior Secured Note [Member] | Senior Secured Note Period Eleven [Member]
Debt Instrument [Line Items]
Repurchase date	Jan. 10, 2019
Principal Repurchased	$ 570
Cash Paid	$ 526
Percent face value	92.25%
Bond Issue Costs	$ 9
Net Gain	$ 35
Senior Secured Note [Member] | Senior Secured Note Period Twelve [Member]
Debt Instrument [Line Items]
Repurchase date	Dec. 21, 2018
Principal Repurchased	$ 2,000
Cash Paid	$ 1,835
Percent face value	91.75%
Bond Issue Costs	$ 38
Net Gain	$ 127
Senior Secured Note [Member] | Senior Secured Note Period Thirteen [Member]
Debt Instrument [Line Items]
Repurchase date	Dec. 21, 2018
Principal Repurchased	$ 1,850
Cash Paid	$ 1,702
Percent face value	92.00%
Bond Issue Costs	$ 35
Net Gain	$ 113
Senior Secured Note [Member] | Senior Secured Note Period Fourteen [Member]
Debt Instrument [Line Items]
Repurchase date	Dec. 21, 2018
Principal Repurchased	$ 1,080
Cash Paid	$ 999
Percent face value	92.50%
Bond Issue Costs	$ 21
Net Gain	$ 60
Senior Secured Note [Member] | Senior Secured Note Period Fifteen [Member]
Debt Instrument [Line Items]
Repurchase date	Nov. 17, 2018
Principal Repurchased	$ 1,500
Cash Paid	$ 1,357
Percent face value	90.50%
Bond Issue Costs	$ 29
Net Gain	$ 114
Senior Secured Note [Member] | Senior Secured Note Period Sixteen [Member]
Debt Instrument [Line Items]
Repurchase date	May 4, 2018
Principal Repurchased	$ 4,000
Cash Paid	$ 3,770
Percent face value	94.25%
Bond Issue Costs	$ 86
Net Gain	$ 144
Senior Secured Note [Member] | Senior Secured Note Period Seventeen [Member]
Debt Instrument [Line Items]
Repurchase date	Apr. 10, 2018
Principal Repurchased	$ 4,000
Cash Paid	$ 3,850
Percent face value	96.25%
Bond Issue Costs	$ 87
Net Gain	$ 63
Senior Secured Note [Member] | Senior Secured Note Period Eighteen [Member]
Debt Instrument [Line Items]
Repurchase date	Apr. 9, 2018
Principal Repurchased	$ 2,000
Cash Paid	$ 1,930
Percent face value	96.50%
Bond Issue Costs	$ 43
Net Gain	$ 27

Long-Term Debt - Asset-Based Re

Long-Term Debt - Asset-Based Revolving Credit Facility - Additional Information (Detail) - USD ($)	May 19, 2017	Mar. 31, 2020	Mar. 31, 2019
Debt Instrument [Line Items]
Debt instrument, debt default, description of violation or event of default		$ 216,300,000
Amortization of financing costs		227,000	$ 258,000
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
Fixed charge coverage ratio		100.00%
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
Amortization of financing costs		$ 800,000
Debt instrument blended interest rate		2.71%
Asset-Based Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Debt instrument, debt default, description of violation or event of default		$ 14,000,000
Debt instrument, interest rate, increase (decrease)	2.00%
Maturity date	Mar. 1, 2024
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.
ABL Borrowings descriptions		90% of the eligible accounts receivable plus (b) a calculated amount based on the value of certain real property.
Debt instrument current borrowing capacity		$ 26,000,000
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
Abl Facility [Member] | Asset-Based Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Debt related commitment fees and debt issuance costs		$ 51,000,000,000	$ 41,000,000,000
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%	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%
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%	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%

Long-Term Debt - Long-Term Debt

Long-Term Debt - Long-Term Debt (Detail) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Long-term debt less unamortized debt issuance costs	$ 227,212	$ 228,894
Less current portion	14,000	12,426
Long-term Debt	213,212	216,468
Asset-Based Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Less current portion	14,000	12,426
6.75% Senior Secured Notes [Member]
Debt Instrument [Line Items]
Long term debt and capital lease obligations current and noncurrent	216,341	219,836
Less unamortized debt issuance costs based on imputed interest rate of 7.08%	(3,129)	(3,368)
Long-term Debt	$ 213,212	$ 216,468

Long-Term Debt - Long-Term De_2

Long-Term Debt - Long-Term Debt (Parenthetical) (Detail)	Mar. 31, 2020
6.75% Senior Secured Notes [Member] | Debt Issuance Costs [Member]
Debt Instrument [Line Items]
Imputed interest rate percentage	7.08%

Long-Term Debt - Summary of Lon

Long-Term Debt - Summary of Long-term Debt Obligations - Additional Information (Detail) - USD ($)	May 19, 2017	Mar. 31, 2020
Shares Issued And Outstanding [Line Items]
Debt instrument, face amount		$ 216,300,000
Asset-Based Revolving Credit Facility [Member]
Shares Issued And Outstanding [Line Items]
Debt instrument, face amount		$ 14,000,000
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%	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%	1.50%
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%	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%	2.00%
Asset-Based Revolving Credit Facility [Member]
Shares Issued And Outstanding [Line Items]
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%	0.25%
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%	0.375%
6.75% Senior Secured Notes [Member]
Shares Issued And Outstanding [Line Items]
Debt instrument, interest rate, stated percentage	6.75%	6.75%

Long-Term Debt - Principle Repa

Long-Term Debt - Principle Repayment Requirements Under Long Term Agreements Outstanding (Detail) $ in Thousands	Mar. 31, 2020USD ($)
Maturities of Long-term Debt [Abstract]
2021	$ 14,000
2025	216,341
Total	$ 230,341

Fair Value Measurements and D_3

Fair Value Measurements and Disclosures - Additional Information (Detail)	Mar. 31, 2020USD ($)
Fair Value Disclosures [Abstract]
Carrying value of notes	$ 216,300,000
Debt instrument, estimated fair value	$ 175,200,000

Fair Value Measurements and D_4

Fair Value Measurements and Disclosures - Summary of Fair Value of Financial Assets and Liabilities (Detail) - Other Indefinite Lived Intangible Assets [Member] $ in Thousands	Mar. 31, 2020USD ($)
Liabilities:
Estimated fair value of contingent earn-out consideration included in accrued expenses	$ 14
Long-term debt less unamortized debt issuance costs	227,212
Fair Value, Inputs, Level 2 [Member]
Liabilities:
Long-term debt less unamortized debt issuance costs	184,042
Fair Value, Inputs, Level 3 [Member]
Liabilities:
Estimated fair value of contingent earn-out consideration included in accrued expenses	$ 14

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2020	Dec. 31, 2019	Dec. 31, 2017
Income Tax Contingency [Line Items]
Valuation allowance	$ 50.1	$ 4.1
Effective corporate income tax rate	21.00%		35.00%
Deferred tax assets, valuation allowance	$ 50.1	8.9
Cumulative adjusted pre-tax book loss	37.1
Increase to the valuation allowance amount	$ 37.1
Domestic Tax Authority [Member]
Income Tax Contingency [Line Items]
Net operating loss carryforwards for federal income tax purpose		$ 136.1
Beginning year of expiry for net operating loss carry forwards		2021
Ending year of expiry for net operating loss carryforwards		2038
State and Local Jurisdiction [Member]
Income Tax Contingency [Line Items]
Net operating loss carryforwards for federal income tax purpose		$ 793.7
Beginning year of expiry for net operating loss carry forwards		2020
Ending year of expiry for net operating loss carryforwards		2039

Stock Incentive Plan - Addition

Stock Incentive Plan - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	May 08, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Employee service share-based compensation, nonvested awards, compensation not yet recognized, stock options	$ 32,000
Employee service share-based compensation, nonvested awards, compensation cost not yet recognized, period for recognition	2 years
Expected term of award	7 years 7 months 6 days	7 years 6 months
Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term of award	10 years
Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term of award	6 years
Restricted Stock [Member] | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	5 years
Restricted Stock [Member] | Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	1 year
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			8,000,000
Share price	$ 0.86
Share-based compensation arrangement by share-based payment award, options, vested in period, fair value	$ 0.2	$ 0.3
Employee Stock Option [Member] | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	5 years
Employee Stock Option [Member] | Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	4 years

Stock Incentive Plan - Schedule

Stock Incentive Plan - Schedule of Stock-Based Compensation Expense Recognized (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense, pre-tax	$ 103	$ 176
Tax expense from stock-based compensation expense	(27)	(46)
Total stock-based compensation expense, net of tax	76	130
Unallocated Corporate [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock option compensation expense	50	107
Broadcast [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock option compensation expense	37	39
Digital Media [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock option compensation expense	15	26
Publishing [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock option compensation expense	$ 1	$ 4

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)	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Expected volatility	53.96%	47.54%
Expected dividends	7.30%	9.22%
Expected term (in years)	7 years 7 months 6 days	7 years 6 months
Risk-free interest rate	1.14%	2.61%

Stock Incentive Plan - Schedu_3

Stock Incentive Plan - Schedule of Stock Option Activity (Detail) - Employee Stock Option [Member] - USD ($)	3 Months Ended	12 Months Ended
	Mar. 31, 2020	Dec. 31, 2019
Shares
Beginning Balance	1,860,722
Granted	743,000
Forfeited or expired	(212,925)
Ending Balance	2,390,797	1,860,722
Exercisable at end of period	1,140,047
Expected to Vest	1,187,587
Weighted Average Exercise Price
Beginning Balance	$ 4.63
Granted	1.37
Forfeited or expired	6.43
Ending Balance	3.27	$ 4.63
Exercisable at end of period	4.62
Expected to Vest	3.30
Weighted Average Grant Date Fair value
Beginning Balance	2.61
Granted	0.35
Forfeited or expired	4.35
Ending Balance	1.56	$ 2.61
Exercisable at end of period	2.37
Expected to Vest	$ 1.58
Weighted Average Remaining Contractual Term
Contractual term	4 years 10 months 24 days	4 years 1 month 6 days
Exercisable at end of period	2 years 8 months 12 days
Expected to Vest	4 years 10 months 24 days
Aggregate Intrinsic Value
Forfeited or expired

Stock Incentive Plan - Schedu_4

Stock Incentive Plan - Schedule of Information Regarding Restricted Stock Activity (Detail) - USD ($)	3 Months Ended	12 Months Ended
	Mar. 31, 2020	Dec. 31, 2019
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Outstanding Shares, Beginning Balance	107,990
Outstanding Shares, Ending Balance	107,990	107,990
Weighted Average Grant Date Fair Value, Beginning Balance	$ 1.85
Weighted Average Grant Date Fair Value, Ending Balance	$ 1.85	$ 1.85
Weighted Average Contractual Life Remaining	1 year 5 months 1 day	1 year 8 months 1 day
Aggregate Intrinsic Value, Beginning Balance	$ 156
Aggregate Intrinsic Value, Ending Balance	$ 93	$ 156

Equity Transactions - Additiona

Equity Transactions - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
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	$ 103	$ 176

Equity Transactions - Schedule

Equity Transactions - Schedule of Cash Distributions Declared and Paid (Detail) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2020USD ($)$ / shares
Dividend Payment One [Member]
Dividends Payable [Line Items]
Announcement Date	Mar. 10, 2020
Payment Date	Mar. 31, 2020
Amount Per Share | $ / shares	$ 0.0250
Cash Distributed | $	$ 667
Dividend Payment Two [Member]
Dividends Payable [Line Items]
Announcement Date	Dec. 10, 2019
Payment Date	Dec. 30, 2019
Amount Per Share | $ / shares	$ 0.0250
Cash Distributed | $	$ 667
Dividend Payment Three [Member]
Dividends Payable [Line Items]
Announcement Date	Sep. 11, 2019
Payment Date	Sep. 30, 2019
Amount Per Share | $ / shares	$ 0.0650
Cash Distributed | $	$ 1,730
Dividend Payment Four [Member]
Dividends Payable [Line Items]
Announcement Date	May 14, 2019
Payment Date	Jun. 28, 2019
Amount Per Share | $ / shares	$ 0.0650
Cash Distributed | $	$ 1,728
Dividend Payment Five [Member]
Dividends Payable [Line Items]
Announcement Date	Mar. 7, 2019
Payment Date	Mar. 29, 2019
Amount Per Share | $ / shares	$ 0.0650
Cash Distributed | $	$ 1,702

Segment Data - Additional Infor

Segment Data - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2020Segments
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		12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019	Dec. 31, 2018
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Depreciation	$ 2,713	$ 2,933
Amortization	987	1,296
Impairment of indefinite-lived long-term assets other than goodwill	17,254
Impairment of goodwill	307		$ 2,427
Change in the estimated fair value of contingent earn-out consideration	(5)
Net (gain) loss on the disposition of assets	(79)	(4,024)
Net operating income (loss)	(18,010)	(984)
Inventories, net	647		717
Property and equipment, net	86,630		87,673
Broadcast licenses	320,864		337,858	$ 376,316
Goodwill	23,691		23,998	$ 26,789
Other indefinite-lived intangible assets	0		260
Operating Segments [Member]
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Net revenue	58,250	60,469
Operating expenses	54,925	53,200
Net operating income (loss) before depreciation, amortization, change in the estimated fair value of contingent earn-out consideration, impairments and net (gain) loss on the disposition of assets	3,325	7,269
Depreciation	2,713	2,933
Amortization	987	1,296
Impairment of indefinite-lived long-term assets other than goodwill	17,254
Impairment of goodwill	307
Change in the estimated fair value of contingent earn-out consideration	(5)
Net (gain) loss on the disposition of assets	79	4,024
Net operating income (loss)	(18,010)	(984)
Inventories, net	647		717
Property and equipment, net	86,630		87,673
Broadcast licenses	320,864		337,858
Goodwill	23,691		23,998
Other indefinite-lived intangible assets			260
Amortizable intangible assets, net	6,113		7,100
Operating Segments [Member] | Broadcast [Member]
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Net revenue	45,180	46,093
Operating expenses	37,327	36,449
Net operating income (loss) before depreciation, amortization, change in the estimated fair value of contingent earn-out consideration, impairments and net (gain) loss on the disposition of assets	7,853	9,644
Depreciation	1,645	1,860
Amortization	9	9
Impairment of indefinite-lived long-term assets other than goodwill	16,994
Impairment of goodwill	184
Net (gain) loss on the disposition of assets	79	3,783
Net operating income (loss)	(11,058)	3,992
Property and equipment, net	71,685		72,816
Broadcast licenses	320,864		337,858
Goodwill	2,746		2,930
Amortizable intangible assets, net	260		268
Operating Segments [Member] | Digital Media [Member]
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Net revenue	9,104	10,240
Operating expenses	8,326	8,058
Net operating income (loss) before depreciation, amortization, change in the estimated fair value of contingent earn-out consideration, impairments and net (gain) loss on the disposition of assets	778	2,182
Depreciation	771	774
Amortization	768	1,075
Impairment of goodwill	10
Change in the estimated fair value of contingent earn-out consideration	(5)
Net (gain) loss on the disposition of assets		239
Net operating income (loss)	(766)	94
Property and equipment, net	6,040		6,127
Goodwill	19,499		19,509
Amortizable intangible assets, net	4,885		5,653
Operating Segments [Member] | Publishing [Member]
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Net revenue	3,966	4,136
Operating expenses	5,062	4,822
Net operating income (loss) before depreciation, amortization, change in the estimated fair value of contingent earn-out consideration, impairments and net (gain) loss on the disposition of assets	(1,096)	(686)
Depreciation	69	116
Amortization	210	212
Impairment of indefinite-lived long-term assets other than goodwill	260
Impairment of goodwill	105
Net operating income (loss)	(1,740)	(1,014)
Inventories, net	647		717
Property and equipment, net	807		801
Goodwill	1,446		1,551
Other indefinite-lived intangible assets			260
Amortizable intangible assets, net	967		1,178
Operating Segments [Member] | Unallocated Corporate [Member]
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Operating expenses	4,210	3,871
Net operating income (loss) before depreciation, amortization, change in the estimated fair value of contingent earn-out consideration, impairments and net (gain) loss on the disposition of assets	(4,210)	(3,871)
Depreciation	228	183
Impairment of goodwill	8
Net (gain) loss on the disposition of assets		2
Net operating income (loss)	(4,446)	$ (4,056)
Property and equipment, net	8,098		7,929
Goodwill			8
Amortizable intangible assets, net	$ 1		$ 1

Subsequent Events - Additional

Subsequent Events - Additional Information (Detail) - USD ($) $ in Thousands	Apr. 06, 2020	Feb. 05, 2020	Oct. 31, 2019	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2022	Dec. 31, 2021	Apr. 07, 2020	Dec. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Agreement to sell business				$ 2	$ 1,255
Deferred Income				$ 8,500
Early Payment Discount Percent				5.00%
Early Payment Discount				$ 400
Deferred Payments				$ 519					$ 513
Radio stations [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Agreement to sell business		$ 4,000	$ 200
Subsequent Event [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Advance rate on eligible accounts receivable	85.00%							90.00%
Percentage of Repayment of Deferred Payments						50.00%	50.00%
Subsequent Event [Member] | Radio stations [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Agreement to sell business	$ 200