13.

Segment Information

We evaluate the operating performance of our markets individually. For purposes of business segment reporting, we have aligned operations with similar characteristics into two business segments: Radio and Television.

The Radio segment includes twenty-four markets, which includes all ninety-nine of our radio stations and we also had one radio network in 2015. In 2014 the Radio segment included twenty-three markets, which included ninety-two radio stations and one radio information network. The Television segment includes two markets and consists of four television stations and five low power television (“LPTV”) stations. The Radio and Television segments derive their revenue from the sale of commercial broadcast inventory. The category “Corporate general and administrative” represents the income and expense not allocated to reportable segments.

					Corporate
	Radio		Television		and Other		Consolidated
	(In thousands)

Year ended December 31, 2016:
Net operating revenue	$	118,955	$	23,636	$		$	142,591
Station operating expense		86,799		14,743				101,542
Corporate general and administrative						10,980		10,980
Other operating (income) expense, net		(1,351)		(42)				(1,393)
Impairment of intangible assets
Operating income (loss) from continuing operations	$	33,507		8,935		(10,980)		31,462
Depreciation and amortization	$	5,555		1,387		321		7,263
Capital additions	$	3,246		894		721		4,861
Broadcast licenses, net	$	86,662		9,607				96,229
Total assets at December 31, 2016	$	162,434		22,674		35,912		221,020

					Corporate
	Radio		Television		and Other		Consolidated
	(In thousands)

Year ended December 31, 2015:
Net operating revenue	$	111,792	$	21,064	$		$	132,856
Station operating expense		83,188		14,080				97,268
Corporate general and administrative						10,091		10,091
Other operating expense		499		32		10		541
Impairment of intangible assets		874						874
Operating income (loss) from continuing operations	$	27,231		6,952		(10,101)		24,082
Depreciation and amortization	$	5,135		1,399		290		6,824
Capital additions	$	3,436		1,970		137		5,543
Broadcast licenses, net	$	78,499		9,607				88,106
Total assets at December 31, 2015	$	150,855		23,091		30,625		204,571

					Corporate
	Radio		Television		and Other		Consolidated
	(In thousands)

Year ended December 31, 2014:
Net operating revenue	$	113,627	$	20,371	$		$	133,998
Station operating expense		85,167		13,257				98,424
Corporate general and administrative						8,901		8,901
Other operating income		(1,210)						(1,210)
Impairment of intangible assets		1,936						1,936
Operating income (loss) from continuing operations	$	27,734		7,114		(8,901)		25,947
Depreciation and amortization	$	5,023		1,411		268		6,702
Capital additions	$	3,856		929		739		5,524

Historical Timeline

Fiscal Year	Filed
2016	Mar 10, 2017	Showing above
2015	Mar 14, 2016

About Segments Disclosures

Segment disclosures break a company into its reportable operating units, revealing revenue, profit, and asset allocation that consolidated financial statements obscure. Under ASC 280, segments must match how the chief operating decision maker views the business, providing a window into internal management structure and resource allocation priorities.

Key signals: compare segment margins to identify which units drive profitability and which destroy value. Watch for changes in the number of reportable segments — segment aggregation or disaggregation often coincides with strategic shifts or attempts to obscure declining performance. Intersegment elimination patterns reveal internal pricing practices. The reconciliation between segment totals and consolidated figures exposes corporate overhead allocation and unallocated items. Geographic revenue concentration highlights regulatory and currency exposure. Compare segment-level capital expenditure against segment revenue to assess where management is investing for future growth versus harvesting existing assets.

SAGA COMMUNICATIONS INC Segments Disclosure

Historical Timeline

About Segments Disclosures

Other Available Disclosures