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FCC Licenses (Tables)
 12 Months Ended
Dec. 31, 2019
Text Block [Abstract]  
Carrying Amount of Broadcasting Licenses
Changes in the carrying amount of FCC licenses for the years ended December 31, 2018 and 2019 are as follows:
 
Balance as of January 1, 2018
  $489,186,679 
Acquisitions of translator licenses
   202,675 
Business acquisition (see Note 3)
   27,346,200 
   
 
 
 
Balance as of December 31, 2018
   516,735,554 
Asset acquisition (see Note 3)
   13,155,601 
Impairment losses
   (12,361,988) 
   
 
 
 
Balance as of December 31, 2019
  $517,529,167 
   
 
 
 
Discounted Cash Flow Analyses
The key assumptions used in the discounted cash flow analyses are as follows:
 
Revenue growth rates
  
0.5% - 1.4%
Market revenue shares at maturity
  
0.6% - 1.1%
Operating income margins at maturity
  
27.5% - 29.8%
Discount rate
  
9.0%