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Consolidated Statements of Cash Flows
 12 Months Ended
Dec. 31, 2015
USD ($)
Dec. 31, 2014
USD ($)
Cash flows from operating activities:    
Net income $ 6,362,322 $ 39,999,367
Adjustments to reconcile net income to net cash provided by operating activities:    
Stock-based compensation 1,112,891 1,317,902
Provision for bad debts 695,246 589,270
Depreciation and amortization 3,834,992 2,525,951
Gain on exchange of radio stations   (54,306,974)
Impairment loss 3,520,933  
Amortization of loan fees 339,924 369,922
Loss on notes receivable from related party   332,034
Loss on modification of long-term debt 558,856 30,569
Deferred income taxes 2,014,468 24,344,571
Change in operating assets and liabilities:    
Accounts receivable (2,905,096) (1,031,503)
Prepaid expenses (1,259,939) 801,275
Other assets 1,327,158 (629,967)
Accounts payable 706,569 (554,696)
Other liabilities (2,433,033) 3,308,014
Other operating activities 496,464 (182,035)
Net cash provided by operating activities 14,371,755 16,913,700
Cash flows from investing activities:    
Change in restricted cash (743,195)  
Capital expenditures (2,129,084) (3,047,388)
Proceeds from sales of radio towers 1,737,500  
Payments for translator licenses (391,175) (155,000)
Payments for investments (166,667) (104,167)
Repayment of notes receivable from related parties 1,748,092 375,376
Net cash provided by (used in) investing activities 55,471 (2,931,179)
Cash flows from financing activities:    
Proceeds from issuance of indebtedness 806,250  
Principal payments on indebtedness (9,500,000) (9,181,250)
Payments of loan fees (1,147,178) (447,828)
Tax benefit (shortfall) from vesting of restricted stock (151,036) 88,620
Dividends paid (4,121,804) (4,104,155)
Payments for treasury stock (254,405) (377,480)
Net cash used in financing activities (14,368,173) (14,022,093)
Net increase (decrease) in cash and cash equivalents 59,053 (39,572)
Cash and cash equivalents at beginning of period 14,259,441 14,299,013
Cash and cash equivalents at end of period 14,318,494 14,259,441
Cash paid for interest 3,601,812 4,005,207
Cash paid for income taxes 5,166,327 2,709,995
Supplement disclosure of non-cash investing and financing activities:    
Property and equipment acquired through placement of advertising airtime 154,998 59,991
Property and equipment acquired through capital leases 750,216  
Property and equipment acquired through a logo agreement   179,980
Dividends declared but unpaid $ 1,032,573 $ 1,027,628