Discontinued Operations
 12 Months Ended
Dec. 31, 2015
Discontinued Operations and Disposal Groups [Abstract]  
Discontinued Operations
Discontinued Operations
On November 14, 2013, the Company completed the sale to Townsquare Media, LLC (“Townsquare”) of 53 radio stations in twelve small and mid-sized markets for $235.0 million in cash and the swap with Townsquare of 15 radio stations in two small and mid-sized markets in exchange for 5 radio stations in Fresno, California (together, the "Townsquare Transaction"). The results of operations associated with the stations disposed of in this transaction has been separately reported within discontinued operations, net of the related tax impact, in the accompanying consolidated statement of operations for the year ended December 31, 2013.
Components of Results of Discontinued Operations
For the year ended December 31, 2013, income from discontinued operations was as follows (dollars in thousands):
 
 
Year Ended December 31, 2013
Discontinued operations:
 
 
Net revenue
 
$
61,492

Operating income
 
24,314

Gain on asset exchange and other income
 
108,156

Income from discontinued operations before taxes
 
132,470

Income tax expense
 
—

Income from discontinued operations, net of taxes
 
$
132,470



In conjunction with the Townsquare Transaction, the Company recorded a gain of $108.2 million, which is included within discontinued operations, net of taxes in the accompanying consolidated statement of operations for the year ended December 31, 2013.