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FCC Licenses (Tables) | 12 Months Ended
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Dec. 31, 2022
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Carrying Amount of Broadcasting Licenses | Changes in the carrying amount of FCC licenses for the years ended December 31, 2021 and 2022 are as follows:
Balance as of January 1, 2021 |  | $ | 508,558,355 |
Disposition |  |  | (144,442 | )
Balance as of December 31, 2021 |  |  | 508,413,913 |
Asset exchange acquisition (see Note 3) |  |  | 5,451,000 |
Asset exchange disposition (see Note 3) |  |  | (2,025,500 | )
Disposition (see Note 3) |  |  | (790,232 | )
Impairment losses (see below and also Note 3) |  |  | (23,799,383 | )
Balance as of December 31, 2022 |  | $ | 487,249,798 |
Discounted Cash Flow Analyses | The key assumptions used in the discounted cash flow analyses are as follows:
Revenue growth rates |  |  | (1.9)% - 15.9 | %
Market revenue shares at maturity |  |  | 0.6% - 44.0 | %
Operating income margins at maturity |  |  | 19.2% - 32.6 | %
Discount rate |  |  | 9.5 % |
Revenue growth rates |  | 0.3% - 2.7%
Market revenue shares at maturity |  | 0.7% - 44.7%
Operating income margins at maturity |  | 19.7% - 30.4%
Discount rate |  | 9.5%

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