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Condensed Consolidated Statements of Net Loss - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Income Statement [Abstract]        
Net revenue $ 58,190,116 $ 60,119,757 $ 173,006,119 $ 181,360,600
Operating expenses:        
Operating expenses 49,946,133 50,117,044 148,534,924 152,098,261
Corporate expenses 4,296,615 4,493,277 12,584,218 13,381,403
Depreciation and amortization 1,788,126 2,201,664 5,455,622 6,626,974
FCC licenses impairment losses   78,204,065   88,245,065
Goodwill impairment losses 922,000 10,582,360 922,000 10,582,360
Total operating expenses 56,952,874 145,598,410 167,496,764 270,934,063
Operating income (loss) 1,237,242 (85,478,653) 5,509,355 (89,573,463)
Non-operating income (expense):        
Interest expense (6,092,820) (6,445,746) (17,772,957) (19,764,067)
Gain on sale of investment     6,026,776  
Other income (expense), net (75,120) 1,106,918 552,145 1,684,168
Loss before income taxes (4,930,698) (90,817,481) (5,684,681) (107,653,362)
Income tax benefit (1,309,803) (23,299,388) (1,796,019) (26,285,207)
Loss before equity in earnings of unconsolidated affiliates (3,620,895) (67,518,093) (3,888,662) (81,368,155)
Equity in earnings of unconsolidated affiliates, net of tax 60,320 (18,744) 60,036 (135,877)
Net loss $ (3,560,575) $ (67,536,837) $ (3,828,626) $ (81,504,032)
Net loss per Class A and Class B common share:        
Basic $ (2.33) [1] $ (45.08) [1] $ (2.52) [2] $ (54.58) [2]
Diluted $ (2.33) [1] $ (45.08) [1] $ (2.52) [2] $ (54.58) [2]
Weighted average shares outstanding:        
Basic [3] 1,529,521 [1] 1,498,131 [1] 1,521,204 [2] 1,493,391 [2]
Diluted [3] 1,529,521 [1] 1,498,131 [1] 1,521,204 [2] 1,493,391 [2]
[1] Weighted-average shares outstanding used in the computation of basic and diluted Net loss per Class A and Class B common share have been retroactively adjusted to reflect the 1-for-20 Reverse Stock Split that occurred on September 23, 2024. See Note 15 for additional information.
[2] Weighted-average shares outstanding used in the computation of basic and diluted Net loss per Class A and Class B common share have been retroactively adjusted to reflect the 1-for-20 Reverse Stock Split that occurred on September 23, 2024. See Note 15 for additional information.
[3] Weighted-average shares outstanding used in the computation of basic and diluted Net loss attributable to BBGI stockholders per Class A and Class B common share have been retroactively adjusted to reflect the 1-for-20 Reverse Stock Split that occurred on September 23, 2024. See Note 15 for additional information.