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FCC Broadcasting Licenses (Tables) | 12 Months Ended
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Dec. 31, 2018
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Carrying Amount of Broadcasting Licenses | Changes in the carrying amount of FCC broadcasting licenses for the years ended December 31, 2017 and 2018 are as follows:
Balance as of January 1, 2017 |  | $ | 451,811,500 |
Acquisitions of translator licenses |  |  | 1,431,579 |
Asset exchange (see Note 3) |  |  | 35,943,600 |
Balance as of December 31, 2017 |  |  | 489,186,679 |
Acquisitions of translator licenses |  |  | 202,675 |
Asset acquisition (see Note 3) |  |  | 27,346,200 |
Balance as of December 31, 2018 |  | $ | 516,735,554 |

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