10. Segment Data ASC 280 "Segment Reporting" requires companies to provide certain information about their operating segments. The Company has two reportable segments   radio operations and television operations. Management uses operating income or loss before stock-based compensation expense, depreciation and amortization, loss (gain) on sale and disposal of property and equipment and impairment of broadcast licenses and long-lived assets as its measure of profitability for purposes of assessing performance and allocating resources. Three Months Ended June 30, Six Months Ended June 30, 2011 2010 2011 2010 (in thousands) Net revenues: Radio operations $ 15,241 $ 16,449 $ 26,502 $ 28,275 Television operations 16,313 14,269 30,478 26,027 Consolidated net revenues 31,554 30,718 56,980 54,302 Operating expenses, excluding gain on assignment of asset purchase agreement, gain on legal settlement, stock-based compensation expense, depreciation and amortization, loss (gain) on sale and disposal of property and equipment and impairment of broadcast licenses and long-lived assets: Radio operations 8,205 8,283 17,135 16,449 Television operations 13,980 12,672 26,183 22,641 Consolidated operating expenses, excluding gain on assignment of asset purchase agreement, gain on legal settlement, stock-based compensation expense, depreciation and amortization, loss (gain) on sale and disposal of property and equipment and impairment of broadcast licenses and long-lived assets: 22,185 20,955 43,318 39,090 Gain on assignment of asset purchase agreement: Radio operations       (1.599 ) Television operations         Total gain on assignment of asset purchase agreement       (1,599 ) Gain on legal settlement: Radio operations (900 )   (900 )   Television operations         Total gain on legal settlement (900 )   (900 )   Operating income before stock-based compensation expense, depreciation and amortization, loss (gain) on sale and disposal of property and equipment and impairment of broadcast licenses and long-lived assets: Radio operat