FCC Licenses (Tables)

12 Months Ended

Dec. 31, 2022

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

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%