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FCC Broadcasting Licenses
 6 Months Ended
Jun. 30, 2012
FCC Broadcasting Licenses [Abstract]  
FCC Broadcasting Licenses
(3) FCC Broadcasting Licenses

The change in the carrying amount of FCC broadcasting licenses for the six months ended June 30, 2012 is as follows:

 

         

Balance as of December 31, 2011

   $ 178,913,816  

Acquisition of translator license

     45,000  
   

 

 

  

Balance as of June 30, 2012

   $ 178,958,816  
   

 

 

  

On January 17, 2012, the Company began using a translator to rebroadcast the programming of one of its radio stations in Augusta, GA. The Company acquired the translator license from Edgewater Broadcasting, Inc. for $45,000. Translator licenses are generally granted for renewable terms of eight years. The licenses are not amortized but are tested for impairment on an annual basis, or more frequently if events or changes in circumstances indicate that they might be impaired.