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FCC Broadcasting Licenses

12 Months Ended

Dec. 31, 2012

FCC Broadcasting Licenses [Abstract]

(4)

FCC Broadcasting Licenses

The change in the carrying amount of FCC broadcasting licenses for the year ended December 31, 2012 is as follows:


Balance as of December 31, 2011	$	178,913,816
Acquisition of translator licenses		195,000
Acquisition of KOAS-FM license (see Note 13)		4,142,912

Balance as of December 31, 2012	$	183,251,728

On January 17, 2012, the Company acquired a translator license from Edgewater Broadcasting, Inc. for $45,000. The translator license allows the Company to rebroadcast the programming of one of its radio stations in Augusta, GA on the FM band over an expanded area of coverage. On October 1, 2012, the Company acquired three translator licenses from Reach Communications, Inc. for $150,000. The translator licenses allow the Company to rebroadcast the programming of one of its radio stations in Fort Myers-Naples, FL on the FM band over an expanded area of coverage. Translator licenses are generally granted for renewable terms of eight years and are tested for impairment on an annual basis, or more frequently if events or changes in circumstances indicate that they might be impaired.

On January 11, 2013, the Company acquired two translator licenses from Reach Communications, Inc. for $30,000. The translator licenses allow the Company to rebroadcast the programming of one of its radio stations in Fort Myers-Naples, FL on the FM band over an expanded area of coverage.