Segment Data The Company operates in two reportable segments for which there is discrete financial information available and whose operating results are reviewed by the chief operating decision maker, the Cumulus Radio Station Group and Westwood One. Cumulus Radio Station Group revenue is derived primarily from the sale of broadcasting time on our owned or operated stations to local, regional, and national advertisers. Westwood One revenue is generated primarily through network advertising on our owned or operated stations and on its approximately 8,000 affiliate stations. The Company also reports information for Corporate and Other. Corporate includes overall executive, administrative and support functions for both of the Companys reportable segments, including accounting, finance, legal, human resources, information technology and programming functions. In 2018, we changed the allocation of certain segment employee costs to align with the management reporting structure. For comparability, we have reclassified prior year segment financial results to reflect these changes. These reclassifications only affect our segment reporting and do not impact our consolidated financial results. The Company presents segment adjusted EBITDA (Adjusted EBITDA) as this is the financial metric by which management and the chief operating decision maker allocate resources of the Company and analyze the performance of the Companys reportable segments. Management also uses this measure to determine the contribution of the Company's core operations to the funding of its corporate resources utilized to manage operations and non-operating expenses including debt service and acquisitions. In addition, Adjusted EBITDA is a key metric for purposes of calculating and determining compliance with certain covenants contained in the Companys Credit Agreement. In determining Adjusted EBITDA, the Company excludes from net income items not related to core operations and those that are non-cash including: interest, taxes, depreciation, amortization, stock-based compensation expense, gain or loss on the exchange, sale, or disposal of any assets or stations, early extinguishment of debt, local marketing agreement fees, expenses relating to acquisitions or divestitures, restructuring costs, reorganization items and non-cash impairments of assets, if any. Management believes that Adjusted EBITDA, although not a measure that is calculated in accordance with GAAP, is commonly employed by the investment community as a measure for determining the market value of a media company and comparing the operational and financial performance among media companies. Management has also observed that Adjusted EBITDA is routinely utilized to evaluate and negotiate the potential purchase price for media companies. Given the relevance to our overall value, management believes that investors consider the metric to be extremely useful. Adjusted EBITDA should not be considered in isolation or as a substitute for net income (loss), operating income, cash flows from operating activities or any other measure for determining the Companys operating performance or liquidity that is calculated in accordance with GAAP. In addition, Adjusted EBITDA may be defined or calculated differently by other companies, and comparability may be limited. The Companys financial data by segment is presented in the tables below (in thousands): Period from January 1, 2018 through June 3, 2018 (Predecessor Company) Cumulus Radio Station Group Westwood One Corporate and Other Consolidated Net revenue $ 303,317 $ 149,715 $ 892 $ 453,924 Period from June 4, 2018 through December 31, 2018 (Successor Company) Cumulus Radio Station Group Westwood One Corporate and Other Consolidated Net revenue $ 477,118 $ 207,702 $ 1,616 $ 686,436 Year Ended December 31, 2017 (Predecessor Company) Cumulus Radio Station Group Westwood One Corporate and Other Consolidated Net revenue $ 786,963 $ 346,165 $ 2,534 $ 1,135,662 Year Ended December 31, 2016 (Predecessor Company) Cumulus Radio Station Group Westwood One Corporate and Other Consolidated Net revenue $ 802,396 $ 336,610 $ 2,394 $ 1,141,400 Successor Company Predecessor Company Period from June 4, 2018 through December 31, Period from January 1, 2018 through June 3, December 31, December 31, 2018 2018 2017 2016 Adjusted EBITDA by segment Cumulus Radio Station Group $ 131,509 $ 76,009 $ 197,775 $ 211,344 Westwood One 39,743 19,210 54,260 25,363 Segment Adjusted EBITDA 171,252 95,219 252,035 236,707 Adjustments to reconcile to GAAP measure Corporate and other expense (17,417 ) (14,707 ) (34,284 ) (30,840 ) Income tax benefit 12,353 176,859 163,726 26,154 Non-operating expense, including net interest expense (53,777 ) (483 ) (127,179 ) (136,102 ) Local marketing agreement fees (2,471 ) (1,809 ) (10,884 ) (12,824 ) Depreciation and amortization (34,060 ) (22,046 ) (62,239 ) (87,267 ) Stock-based compensation expense (3,404 ) (231 ) (1,614 ) (2,948 ) (Loss) gain on sale or disposal of assets or stations (103 ) (158 ) 2,499 95,695 Reorganization items, net  466,201 (31,603 )  Impairment of intangible assets   (335,909 ) (604,965 ) Loss on early extinguishment of debt 201  (1,063 ) 8,017 Acquisition-related and restructuring costs (11,194 ) (2,455 ) (19,492 ) (1,817 ) Franchise and state taxes 45 (234 ) (558 ) (530 ) Consolidated GAAP net income (loss) $ 61,425 $ 696,156 $ (206,565 ) $ (510,720 )