v3.26.1
Segment Information (Tables)
3 Months Ended
Mar. 31, 2026
Segment Information  
Schedule of disaggregates revenue by segment and by source

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Three months ended

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March 31, 

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2026

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2025

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amounts in thousands

Baseball:

 

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Baseball event

 

$

23,738

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883

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Broadcasting

 

 

2,519

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4,291

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Retail and licensing

 

 

7,283

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6,080

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Other

 

 

12,206

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17,367

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Total Baseball

 

 

45,746

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28,621

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Mixed-Use Development

 

 

26,261

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18,590

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Total revenue

 

$

72,007

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47,211

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Schedule of revenue and adjusted OIBDA

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Three months ended

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March 31, 2026

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amounts in thousands

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Baseball

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Mixed-Use Development

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Total

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Revenue from external customers

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$

45,746

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$

26,261

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$

72,007

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Less: (1)

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Baseball operating costs

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56,616

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—

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Mixed-Use Development costs

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—

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4,258

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Other segment items (2)

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21,463

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4,407

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Segment Adjusted OIBDA

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(32,333)

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17,596

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$

(14,737)

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Reconciliation of Adjusted OIBDA

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Corporate and other costs

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(2,820)

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Stock-based compensation

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(6,568)

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Depreciation and amortization

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(17,126)

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Operating income (loss)

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$

(41,251)

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Interest expense

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(11,170)

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Share of earnings (losses) of affiliates, net

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(320)

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Realized and unrealized gains (losses) on financial instruments, net

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927

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Other, net

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1,194

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Earnings (loss) before income taxes

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$

(50,620)

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(1)The significant expense categories and amounts align with the segment-level information that is regularly provided to the CODM.
(2)Other segment items represent selling, general and administrative costs, excluding stock-based compensation expense and other insignificant items.

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Three months ended

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March 31, 2025

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amounts in thousands

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Baseball

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Mixed-Use Development

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Total

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Revenue from external customers

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$

28,621

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$

18,590

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$

47,211

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Less: (1)

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Baseball operating costs

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48,763

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—

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Mixed-Use Development costs

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—

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2,408

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Other segment items (2)

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19,458

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3,295

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Segment Adjusted OIBDA

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(39,600)

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12,887

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$

(26,713)

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Reconciliation of Adjusted OIBDA

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Corporate and other costs

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(1,836)

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Stock-based compensation

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(2,646)

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Depreciation and amortization

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(13,257)

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Operating income (loss)

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$

(44,452)

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Interest expense

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(10,344)

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Share of earnings (losses) of affiliates, net

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322

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Realized and unrealized gains (losses) on financial instruments, net

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(637)

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Other, net

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1,213

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Earnings (loss) before income taxes

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$

(53,898)

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(1)The significant expense categories and amounts align with the segment-level information that is regularly provided to the CODM.
(2)Other segment items represent selling, general and administrative costs, excluding stock-based compensation expense and other insignificant items.