INVESTMENTS

12 Months Ended

Dec. 31, 2024

The following table summarizes the Company's investments in nonconsolidated affiliates and other securities:


(In thousands)	Available-for-Sale Debt Securities		Equity Method Investments		Other Investments		Marketable Equity Securities		Total Investments
Balance at December 31, 2022	$	39,113	$	13,419	$	72,237	$	452	$	125,221
Purchases of investments	39,775		796		1,937		341		42,849
Equity in loss of nonconsolidated affiliates	—		(3,530)		—		—		(3,530)
Disposals	—		—		—		(3,864)		(3,864)
Loss on investments	(15,591)		—		(7,167)		(5,372)		(28,130)
Conversions and other	(15,474)		—		7,146		10,000		1,672
Balance at December 31, 2023	$	47,823	$	10,685	$	74,153	$	1,557	$	134,218
Purchases of investments	49,635		5,933		7,850		—		63,418
Equity in loss of nonconsolidated affiliates	—		(2,646)		—		—		(2,646)
Disposals	—		—		(101,357)		(399)		(101,756)
Gain (loss) on investments, net	(14,442)		—		91,123		(1,158)		75,523
Conversions and other	(9,752)		—		9,457		—		(295)
Balance at December 31, 2024	$	73,264	$	13,972	$	81,226	$	—	$	168,462

Equity method investments in the table above are not consolidated, but are accounted for under the equity method of accounting. The Company records its investments in these entities on the balance sheet within “Other assets.” The Company's interests in the operations of equity method investments are recorded in the statement of comprehensive loss as Equity in loss of nonconsolidated affiliates. Other investments includes various investments in companies for which there is no readily determinable market value. The Company enters into these investments in exchange for advertising services and cash.