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Acquisitions and Dispositions
12 Months Ended
Dec. 31, 2021
Business Combinations [Abstract]  
Acquisitions and Dispositions
(3)
Acquisitions and Dispositions
On January 28, 2022, the Company entered into an agreement to sell substantially all of the assets used in the operations of
WWNN-AM
in Boca Raton, FL to a third party for $1.25 million in cash. The sale, which is subject to approval by the FCC and other customary closing conditions, is expected to close during the second or third quarter of 2022. If the sale is completed, the Company will recognize a loss on disposition of approximately $1.5 million.
On December 31, 2020, the Company completed the sale of certain land in Charlotte, NC to a third party for $4.65 million. As a result of the sale, the Company recorded a gain of $4.4 million in the fourth quarter of 2020.