| Schedule of Goodwill |
The following table presents the changes in the Company's goodwill carrying values for its reportable segments during 2025: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Radio Broadcasting | | Reach Media | | Digital (1) | | Cable Television (1) | | Total | | (in thousands) | | As of December 31, 2024 | | | | | | | | | | | Gross goodwill | $ | 154,967 | | | $ | 30,468 | | | $ | 27,567 | | | $ | 165,044 | | | $ | 378,046 | | | Accumulated impairment losses | (124,988) | | | (16,114) | | | (20,345) | | | (20,174) | | | (181,621) | | | Net goodwill at December 31, 2024 | $ | 29,979 | | | $ | 14,354 | | | $ | 7,222 | | | $ | 144,870 | | | $ | 196,425 | | | | | | | | | | | | | Additions | — | | | — | | | — | | | — | | | — | | | Impairments | (3,858) | | | — | | | (4,891) | | | — | | | (8,749) | | Intersegment transfers (out) in (1) | — | | | — | | | (655) | | | 655 | | — | | | | | | | | | | | | | As of September 30, 2025 | | | | | | | | | | | Gross goodwill | $ | 154,967 | | | $ | 30,468 | | | $ | 26,912 | | | $ | 165,699 | | | $ | 378,046 | | | Accumulated impairment losses | (128,846) | | | (16,114) | | | (25,236) | | | (20,174) | | | (190,370) | | | Net goodwill at September 30, 2025 | $ | 26,121 | | | $ | 14,354 | | | $ | 1,676 | | | $ | 145,525 | | | $ | 187,676 | |
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| Schedule of Estimate the Fair Value of the Broadcasting Licenses |
Below are the key assumptions used in the income approach model for estimating the fair value of the broadcasting licenses for the twelve radio markets in the most recent interim impairment assessment performed as of May 31, 2025. | | | | | | | Radio Broadcasting Licenses | As of May 31, 2025 | | Discount rate | 9.5% | | Revenue growth rate range | (3.2)% - 0.3% | | Market share range | 0.8% - 33.0% | | Operating profit margin range | 0.8% - 30.0% |
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| Schedule of Impaired Intangible Assets |
The following table presents the changes in the Company’s radio broadcasting licenses carrying value during the nine months ended September 30, 2025. | | | | | | | | | (In thousands) | | Balance as of January 1, 2025 | $ | 257,759 | | | Impairment charges | (127,772) | | | Amortization expense | (5,128) | | Balance as of September 30, 2025 | $ | 124,859 | |
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| Schedule of Future Amortization Expense |
Future estimated amortization expense related to the broadcasting licenses for the years 2025 through 2030, and thereafter, is as follows: | | | | | | | (In thousands) | | Remainder of 2025 | $ | 3,845 | | | 2026 | 14,785 | | | 2027 | 13,762 | | | 2028 | 12,740 | | | 2029 | 11,717 | | | 2030 | 10,695 | | | Thereafter | 57,315 | |
Future estimated amortization expense related to the TV One Trade Name for the years 2025 through 2030 and thereafter is as follows:
| | | | | | | (In thousands) | | Remainder of 2025 | $ | 633 | | | 2026 | 2,407 | | | 2027 | 2,280 | | | 2028 | 2,153 | | | 2029 | 2,027 | | | 2030 | 1,900 | | | Thereafter | 13,300 | |
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