| Schedule of disaggregates revenue by segment and by source |
| | | | | | | | | | | | | Three months ended | | Nine months ended | | | | September 30, | | September 30, | | | | 2025 | | 2024 | | 2025 | | 2024 | | | | | amounts in thousands | | Baseball: | | | | | | | | | | | Baseball event | | $ | 176,335 | | 172,800 | | 357,567 | | 345,318 | | Broadcasting | | | 79,227 | | 70,992 | | 164,586 | | 144,043 | | Retail and licensing | | | 15,580 | | 16,512 | | 40,226 | | 41,789 | | Other | | | 13,220 | | 12,958 | | 37,923 | | 30,083 | | Total Baseball | | | 284,362 | | 273,262 | | 600,302 | | 561,233 | | Mixed-Use Development | | | 27,176 | | 17,412 | | 70,887 | | 49,397 | | Total revenue | | $ | 311,538 | | 290,674 | | 671,189 | | 610,630 | |
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| Schedule of revenue and adjusted OIBDA |
The following tables detail Adjusted OIBDA by segment as well as a reconciliation of consolidated Adjusted OIBDA to Operating income (loss) and Earnings (loss) before income taxes: | | | | | | | | | | | | | | | | Three months ended | | | | September 30, 2025 | | | | amounts in thousands | | | | Baseball | | | Mixed-Use Development | | | Corporate and Other | | | Total | | | | | | | Revenue from external customers | | $ | 284,362 | | $ | 27,176 | | $ | — | | $ | 311,538 | | | | | | | | | | | | | | | | Less: (1) | | | | | | | | | | | | | | Baseball operating costs | | | 210,443 | | | — | | | — | | | | | Mixed-Use Development costs | | | — | | | 3,944 | | | — | | | | | Other segment items (2) | | | 23,881 | | | 3,452 | | | 2,663 | | | | | Segment Adjusted OIBDA | | | 50,038 | | | 19,780 | | | (2,663) | | $ | 67,155 | | | | | | | | | | | | | | | | Reconciliation of Adjusted OIBDA | | | | | | | | | | | | | | Stock-based compensation | | | | | | | | | | | | (4,757) | | Depreciation and amortization | | | | | | | | | | | | (23,468) | | Operating income (loss) | | | | | | | | | | | $ | 38,930 | | Interest expense | | | | | | | | | | | | (12,285) | | Share of earnings (losses) of affiliates, net | | | | | | | | | | | | 13,278 | | Realized and unrealized gains (losses) on financial instruments, net | | | | | | | | | 194 | | Other, net | | | | | | | | | | | | 1,688 | | Earnings (loss) before income taxes | | | | | | | | | | | $ | 41,805 | |
| (1) | The significant expense categories and amounts align with the segment-level information that is regularly provided to the chief operating decision maker. |
| (2) | Other segment items represent selling, general and administrative costs, excluding stock-based compensation expense and other insignificant items. |
| | | | | | | | | | | | | | | | Three months ended | | | | September 30, 2024 | | | | amounts in thousands | | | | Baseball | | | Mixed-Use Development | | | Corporate and Other | | | Total | | | | | | | Revenue from external customers | | $ | 273,262 | | $ | 17,412 | | $ | — | | $ | 290,674 | | | | | | | | | | | | | | | | Less: (1) | | | | | | | | | | | | | | Baseball operating costs | | | 225,973 | | | — | | | — | | | | | Mixed-Use Development costs | | | — | | | 2,499 | | | — | | | | | Other segment items (2) | | | 22,892 | | | 2,740 | | | 5,125 | | | | | Segment Adjusted OIBDA | | | 24,397 | | | 12,173 | | | (5,125) | | $ | 31,445 | | | | | | | | | | | | | | | | Reconciliation of Adjusted OIBDA | | | | | | | | | | | | | | Stock-based compensation | | | | | | | | | | | | (6,365) | | Depreciation and amortization | | | | | | | | | | | | (18,678) | | Operating income (loss) | | | | | | | | | | | $ | 6,402 | | Interest expense | | | | | | | | | | | | (9,561) | | Share of earnings (losses) of affiliates, net | | | | | | | | | | | | 13,702 | | Realized and unrealized gains (losses) on financial instruments, net | | | | | | | | | (2,476) | | Other, net | | | | | | | | | | | | 1,838 | | Earnings (loss) before income taxes | | | | | | | | | | | $ | 9,905 | |
| (1) | The significant expense categories and amounts align with the segment-level information that is regularly provided to the chief operating decision maker. |
| (2) | Other segment items represent selling, general and administrative costs, excluding stock-based compensation expense and other insignificant items. |
| | | | | | | | | | | | | | | | Nine months ended | | | | September 30, 2025 | | | | amounts in thousands | | | | Baseball | | | Mixed-Use Development | | | Corporate and Other | | | Total | | | | | | | Revenue from external customers | | $ | 600,302 | | $ | 70,887 | | $ | — | | $ | 671,189 | | | | | | | | | | | | | | | | Less: (1) | | | | | | | | | | | | | | Baseball operating costs | | | 470,015 | | | — | | | — | | | | | Mixed-Use Development costs | | | — | | | 9,985 | | | — | | | | | Other segment items (2) | | | 67,802 | | | 10,669 | | | 8,408 | | | | | Segment Adjusted OIBDA | | | 62,485 | | | 50,233 | | | (8,408) | | $ | 104,310 | | | | | | | | | | | | | | | | Reconciliation of Adjusted OIBDA | | | | | | | | | | | | | | Stock-based compensation | | | | | | | | | | | | (10,049) | | Depreciation and amortization | | | | | | | | | | | | (57,996) | | Operating income (loss) | | | | | | | | | | | $ | 36,265 | | Interest expense | | | | | | | | | | | | (34,281) | | Share of earnings (losses) of affiliates, net | | | | | | | | | | | | 24,213 | | Realized and unrealized gains (losses) on financial instruments, net | | | | | | | | | (1,083) | | Other, net | | | | | | | | | | | | 4,574 | | Earnings (loss) before income taxes | | | | | | | | | | | $ | 29,688 | |
| (1) | The significant expense categories and amounts align with the segment-level information that is regularly provided to the chief operating decision maker. |
| (2) | Other segment items represent selling, general and administrative costs, excluding stock-based compensation expense and other insignificant items. |
| | | | | | | | | | | | | | | | Nine months ended | | | | September 30, 2024 | | | | amounts in thousands | | | | Baseball | | | Mixed-Use Development | | | Corporate and Other | | | Total | | | | | | | Revenue from external customers | | $ | 561,233 | | $ | 49,397 | | $ | — | | $ | 610,630 | | | | | | | | | | | | | | | | Less: (1) | | | | | | | | | | | | | | Baseball operating costs | | | 476,250 | | | — | | | — | | | | | Mixed-Use Development costs | | | — | | | 7,162 | | | — | | | | | Other segment items (2) | | | 64,911 | | | 8,620 | | | 10,246 | | | | | Segment Adjusted OIBDA | | | 20,072 | | | 33,615 | | | (10,246) | | $ | 43,441 | | | | | | | | | | | | | | | | Reconciliation of Adjusted OIBDA | | | | | | | | | | | | | | Stock-based compensation | | | | | | | | | | | | (13,789) | | Depreciation and amortization | | | | | | | | | | | | (50,669) | | Operating income (loss) | | | | | | | | | | | $ | (21,017) | | Interest expense | | | | | | | | | | | | (28,717) | | Share of earnings (losses) of affiliates, net | | | | | | | | | | | | 26,951 | | Realized and unrealized gains (losses) on financial instruments, net | | | | | | | | | 1,429 | | Other, net | | | | | | | | | | | | 5,824 | | Earnings (loss) before income taxes | | | | | | | | | | | $ | (15,530) | |
| (1) | The significant expense categories and amounts align with the segment-level information that is regularly provided to the chief operating decision maker. |
| (2) | Other segment items represent selling, general and administrative costs, excluding stock-based compensation expense and other insignificant items. |
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| Schedule of other information |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | September 30, 2025 | | December 31, 2024 | | | | Total | | Investments | | Total | | Investments | | | | assets | | in affiliates | | assets | | in affiliates | | | | | amounts in thousands | | Baseball | | $ | 950,512 | | 108,367 | | 892,914 | | 94,020 | | Mixed-Use Development | | | 687,874 | | 12,806 | | 602,894 | | 14,766 | | Corporate and other | | | 61,782 | | — | | 59,206 | | — | | Elimination(1) | | | (28,702) | | — | | (31,168) | | — | | Total | | $ | 1,671,466 | | 121,173 | | 1,523,846 | | 108,786 | |
| (1) | This amount is related to (i) intersegment accounts and transactions between Baseball and Mixed-Use Development that have been eliminated in the condensed consolidated financial statements and (ii) income taxes payable that partially offset income taxes receivable in the condensed consolidated balance sheets. |
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