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Segment Information (Tables)

6 Months Ended

Jun. 30, 2025

Segment Reporting [Abstract]

Summary of reportable segment information

Reportable segment information for the three months ended June 30, 2025 is as follows:

		Audio				Digital				Corporate				Total
Net revenue		$	39,818,870			$	13,180,841			$	—			$	52,999,711
Operating expenses			35,095,319				9,654,879				—				44,750,198
Corporate expenses			—				—				3,769,243				3,769,243
Depreciation and amortization			1,436,332				31,488				121,194				1,589,014
Operating income (loss)		$	3,287,219			$	3,494,474			$	(3,890,437	)		$	2,891,256

		Audio				Digital				Corporate				Total
Capital expenditures		$	351,269			$	—			$	221,904			$	573,173

Reportable segment information for the three months ended June 30, 2024 is as follows:

		Audio				Digital				Corporate				Total
Net revenue		$	47,430,080			$	13,005,577			$	—			$	60,435,657
Operating expenses			39,468,898				9,878,895				—				49,347,793
Corporate expenses			—				—				3,879,771				3,879,771
Depreciation and amortization			1,594,673				52,440				185,781				1,832,894
Operating income (loss)		$	6,366,509			$	3,074,242			$	(4,065,552	)		$	5,375,199

		Audio				Digital				Corporate				Total
Capital expenditures		$	841,355			$	8,925			$	186,847			$	1,037,127

Reportable segment information for the six months ended June 30, 2025 is as follows:

		Audio				Digital				Corporate				Total
Net revenue		$	77,972,240			$	23,939,936			$	—			$	101,912,176
Operating expenses			71,490,295				18,501,164				—				89,991,459
Corporate expenses			—				—				7,788,705				7,788,705
Depreciation and amortization			2,930,295				62,976				248,074				3,241,345
Operating income (loss)		$	3,551,650			$	5,375,796			$	(8,036,779	)		$	890,667

		Audio				Digital				Corporate				Total
Capital expenditures		$	812,861			$	1,713			$	558,764			$	1,373,338

Reportable segment information for the six months ended June 30, 2024 is as follows:

		Audio				Digital				Corporate				Total
Net revenue		$	90,858,207			$	23,957,796			$	—			$	114,816,003
Operating expenses			77,901,810				20,686,981				—				98,588,791
Corporate expenses			—				—				8,287,603				8,287,603
Depreciation and amortization			3,190,926				104,879				371,691				3,667,496
Operating income (loss)		$	9,765,471			$	3,165,936			$	(8,659,294	)		$	4,272,113

		Audio				Digital				Corporate				Total
Capital expenditures		$	1,663,090			$	8,925			$	312,836			$	1,984,851

Reportable segment information as of June 30, 2025 is as follows:

		Audio				Digital				Corporate				Total
Property and equipment, net		$	40,859,507			$	49,041			$	3,158,697			$	44,067,245
FCC licenses			385,074,211			—				—					385,074,211
Other intangibles, net			1,508,271				280,534				179,663				1,968,468
Assets held for sale			7,316,486			—				—					7,316,486

Reportable segment information as of December 31, 2024 is as follows:

		Audio				Digital				Corporate				Total
Property and equipment, net		$	44,089,751			$	63,220			$	2,848,007			$	47,000,978
FCC licenses			392,259,831			—				—					392,259,831
Other intangibles, net			1,574,817				327,618				179,663				2,082,098

X

- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 25
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-25

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-22

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-30

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- References

No definition available.

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