XML 18 R8.htm IDEA: XBRL DOCUMENT v3.22.2.2
Acquisitions and Dispositions
6 Months Ended
Jun. 30, 2022
Business Combinations [Abstract]  
Acquisitions and Dispositions
(2)
Acquisitions and Dispositions
On June 22, 2022, the Company completed the acquisition of Guarantee Digital, LLC, a digital marketing agency, for $2.0 million in cash. The Company is currently determining whether the acquisition should be recorded as a business combination or an asset acquisition and has temporarily recorded the purchase price in other intangibles, net in the accompanying balance sheet as of June 30, 2022. The purchase price allocation is expected to be completed during the third quarter of 2022.
On April 1, 2022, the Company completed the sale of substantially all of the assets used in the operations of
WWNN-AM
in West Palm Beach-Boca Raton, FL to a third party for $1.25 million in cash. As a result of the sale, the Company recorded an impairment loss of $1.9 million related to the Federal Communications Commission (“FCC”) license during the first quarter of 2022.