XML 17 R5.htm IDEA: XBRL DOCUMENT v3.25.3
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Sep. 30, 2025
Dec. 31, 2024
CURRENT ASSETS:    
Cash and cash equivalents $ 79,325 $ 137,090
Restricted cash 485 484
Trade accounts receivable, net of allowance for expected credit losses of $4,089 and $4,553, respectively 93,795 113,847
Prepaid expenses 12,361 8,156
Current portion of content assets 38,408 36,861
Other current assets 4,721 8,941
Total current assets 229,095 305,379
CONTENT ASSETS, NET 81,426 86,868
PROPERTY AND EQUIPMENT, NET 31,483 27,822
RIGHT OF USE ASSETS, NET 34,773 31,055
GOODWILL 187,676 196,425
RADIO BROADCASTING LICENSES, NET 124,859 257,759
OTHER INTANGIBLE ASSETS, NET 25,528 30,860
OTHER ASSETS 8,636 8,622
Total assets 723,476 944,790
CURRENT LIABILITIES:    
Accounts payable 16,697 19,945
Accrued interest 6,061 18,028
Accrued compensation and related benefits 9,619 11,899
Reserve for audience deficiency 15,228 22,383
Current portion of content payables 11,009 14,233
Current portion of lease liabilities 6,570 7,428
Other current liabilities 23,410 20,386
Total current liabilities 88,594 114,302
LONG-TERM DEBT, net of original issue discount and issuance costs 484,278 579,069
CONTENT PAYABLES, net of current portion 6,543 6,020
LONG-TERM LEASE LIABILITIES 31,245 24,373
OTHER LONG-TERM LIABILITIES 9,651 12,788
DEFERRED TAX LIABILITIES, NET 21,747 29,305
Total liabilities 642,058 765,857
COMMITMENTS AND CONTINGENCIES (NOTE 13)
REDEEMABLE NON-CONTROLLING INTERESTS 2,586 7,988
STOCKHOLDERS’ EQUITY:    
Convertible preferred stock, $.001 par value, 1,000,000 shares authorized; no shares outstanding at September 30, 2025 and December 31, 2024 0 0
Treasury stock, at cost — 908,894 shares at each of September 30, 2025 and December 31, 2024 (1,345) (1,345)
Additional paid-in capital 1,011,370 1,011,007
Accumulated deficit (931,239) (838,765)
Total stockholders’ equity 78,832 170,945
Total liabilities, redeemable non-controlling interests, and stockholders’ equity 723,476 944,790
Common Stock Class A    
STOCKHOLDERS’ EQUITY:    
Common stock 7 8
Common Stock Class B    
STOCKHOLDERS’ EQUITY:    
Common stock 3 3
Common Stock Class C    
STOCKHOLDERS’ EQUITY:    
Common stock 2 2
Common Stock Class D    
STOCKHOLDERS’ EQUITY:    
Common stock $ 34 $ 35