XML 23 R18.htm IDEA: XBRL DOCUMENT v3.25.3
Commitments and Contingencies
 9 Months Ended
Sep. 30, 2025
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies
(10)
Commitments and Contingencies

On August 19, 2025, the Radio Music Licensing Committee (RMLC) announced that they had entered into settlement agreements with American Society of Composers, Authors, and Publishers (ASCAP) and Broadcast Music, Inc (BMI) concerning licensing arrangements. The settlements established final license fee rates which apply retrospectively for the period January 1, 2022 through December 31, 2029. The rate increase results in additional royalties to be paid by the Company to ASCAP and BMI for periods dating back to January 1, 2022. At September 30, 2025, the Company determined that the loss related to the ASCAP settlement is probable and recorded an accrual of $1.5 million in the Other Operating Expenses in the Condensed Consolidated Statements of Operations.

With respect to BMI, the Company expects to pay additional royalties for the periods from 2022 through 2024. The Company has not accrued any amount as of September 30, 2025, because the information necessary to reasonably estimate the additional royalties payable under the BMI settlement has not yet been provided to the Company. Accordingly, a reasonable estimate of the loss or range of loss cannot be made at this time. It is at least reasonably possible that a change in the estimate will occur in the near term once BMI provides the required data and final settlement details. Any adjustments could materially affect the amount recognized in future periods once additional information becomes available.