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FCC Licenses (Tables)
 12 Months Ended
Dec. 31, 2020
Text Block [Abstract]  
Carrying Amount of Broadcasting Licenses
Changes in the carrying amount of FCC licenses for the years ended December 31, 2019 and 2020 are as follows:
 
Balance as of January 1, 2019
  $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 
Impairment losses
   (8,970,812) 
   
 
 
 
Balance as of December 31, 2020
  $508,558,355 
   
 
 
 
Discounted Cash Flow Analyses
The key assumptions used in the discounted cash flow analyses are as follows:
 
Revenue growth rates
  
(14.1)% - 7.9%
Market revenue shares at maturity
  
0.6% - 39.0%
Operating income margins at maturity
  
26.5% - 35.4%
Discount rate
  
9.5%
The key assumptions used in the discounted cash flow analyses are as follows:
 
Revenue growth rates
  
0.5% - 18.8%
Market revenue shares at maturity
  
0.6% - 44.4%
Operating income margins at maturity
  
19.5% - 33.3%
Discount rate
  
9.0%
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%