INTANGIBLE ASSETS AND GOODWILL (Tables)
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12 Months Ended |
Dec. 31, 2023 |
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| Goodwill and Intangible Assets Disclosure [Abstract] |
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| Schedule of the Changes in Broadcasting License |
The following table presents the changes in the carrying value of broadcasting licenses. Refer to Note 3, Acquisitions and Dispositions, and Note 20, Assets Held for Sale, for additional information. | | | | | | | | | | | | | | | | | As of December 31, | | Broadcasting Licenses Carrying Amount | | 2023 | | 2022 | | | (amounts in thousands) | | Broadcasting licenses balance as of January 1, | | $ | 2,089,226 | | | $ | 2,251,546 | | | Disposition of radio stations (see Note 3) | | (4,956) | | | (4,377) | | | Acquisitions (see Note 3) | | — | | | 2,002 | | | Loss on impairment (See Note 12) | | (1,289,499) | | | (159,089) | | | Assets held for sale (see Note 20) | | — | | | (856) | | | Ending period balance | | $ | 794,771 | | | $ | 2,089,226 | |
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| Schedule of Changes in Goodwill |
The following table presents the changes in goodwill. Refer to Note 3, Acquisitions and Dispositions, for additional information. | | | | | | | | | | | | | | | | | As of December 31, | | Goodwill Carrying Amount | | 2023 | | 2022 | | | (amounts in thousands) | | Goodwill balance before cumulative loss on impairment as of January 1, | | $ | 1,062,588 | | | $ | 1,062,723 | | | Accumulated loss on impairment as of January 1, | | (998,673) | | | (980,547) | | | Goodwill beginning balance after cumulative loss on impairment as of January 1, | | 63,915 | | | 82,176 | | | Loss on impairment (see Note 12) | | — | | | (18,126) | | | | | | | | | | | | | | | | | | Measurement period adjustments to acquired goodwill | | — | | | (135) | | | Ending period balance | | $ | 63,915 | | | $ | 63,915 | | | | | | | | Goodwill, net of cumulative loss on impairment | | | | | | Goodwill balance before cumulative loss on impairment as of December 31, | | $ | 1,062,588 | | | $ | 1,062,588 | | | Accumulated loss on impairment as of December 31, | | (998,673) | | | (998,673) | | | Goodwill ending balance as of December 31, | | $ | 63,915 | | | $ | 63,915 | |
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| Schedule of Assumptions and Estimates for Broadcasting Licenses Impairment Testing |
The following table reflects the estimates and assumptions used in the interim and annual broadcasting licenses impairment assessments of each year. | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Estimates and Assumptions | | | | | Fourth Quarter
2023 | | Third Quarter
2023 | | Second Quarter
2023 | | Fourth Quarter
2022 | | Third Quarter
2022 | | | | | Discount rate | 15.00 | % | | 10.00 | % | | 9.50 | % | | 9.50 | % | | 9.50 | % | | | | | Operating profit margin ranges for average stations in markets where the Company operates | 15% to 31% | | 18% to 32% | | 18% to 32% | | 18% to 33% | | 20% to 33% | | | | | Forecasted growth rate (including long-term growth rate) range of the Company's markets | (2.5)% to 0% | | (2.0)% to 0% | | 0% to 1% | | 0.0% to 0.6% | | 0.0% to 0.6% | | | |
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| Schedule of Assumptions and Estimates for Goodwill Impairment Testing |
The following table reflects the estimates and assumptions used in the interim and annual goodwill impairment assessments of each year: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Estimates and Assumptions | | | | Fourth Quarter 2023 | | Third Quarter 2023 | | Second Quarter 2023 | | Fourth Quarter 2022 | | Third Quarter 2022 | | | | | | | | Discount rate - podcast reporting unit | | | | 16.0 | % | | 11.5 | % | | 11.5 | % | | 11.0 | % | | 11.0 | % | | | | | | | | Discount rate - QLGG reporting unit | | | | not applicable | | not applicable | | not applicable | | not applicable | | 13.0 | % | | | | | | |
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| Schedule of Software and Other Intangible Assets |
The table below presents software and other intangible assets carried on the Company's consolidated balance sheet: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Definite-Lived Intangibles | | | | As of December 31, 2023 | | As of December 31, 2022 | | | | Asset | | Accumulated Amortization | | Net | | Asset | | Accumulated Amortization | | Net | | Period Of Amortization | | (amounts in thousands) | | | Deferred contracts(1) | $ | 1,253 | | | $ | 1,253 | | | $ | — | | | $ | 1,362 | | | $ | 1,362 | | | $ | — | | | Term of contract | | | | | | | | | | | | | | | | Software costs | 218,190 | | | 89,062 | | | 129,128 | | | 200,273 | | | 48,444 | | | 151,829 | | | 3 to 7 years | Advertiser lists and customer relationships (1) | 31,674 | | | 31,652 | | | 22 | | | 31,674 | | | 30,973 | | | 701 | | | 3 to 5 years | Other definite-lived assets(1) | 26,762 | | | 16,278 | | | 10,484 | | | 26,761 | | | 15,095 | | | 11,666 | | | Term of contract | | Total definite-lived intangibles | $ | 277,879 | | | $ | 138,245 | | | $ | 139,634 | | | $ | 260,070 | | | $ | 95,874 | | | $ | 164,196 | | | |
(1)Deferred contracts, advertiser list and customer relationships and other definite-lived assets are recorded in Other assets on the balance sheet.
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| Schedule of Finite-Lived Intangible Assets Amortization Expense |
The following table presents the various categories of amortization expense: | | | | | | | | | | | | | | | | | | Year Ended December 31, | | Amortization Expense | | 2023 | | 2022 | | | | (amounts in thousands) | | Software Costs | | $ | 40,639 | | | $ | 24,888 | | | | Definite-lived assets | | 2,004 | | | 7,798 | | | | Total | | $ | 42,643 | | | $ | 32,686 | | |
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| Schedule of Future Estimated Amortization Expense |
The following table presents the Company’s estimate of amortization expense, for each of the five succeeding years for: (i) software costs; and (ii) definite-lived assets: | | | | | | | | | | | | | Future Amortization Expense | | Definite-Lived Assets | | Years ending December 31, | | | | 2024 | | $ | 55,584 | | | 2025 | | 44,552 | | | 2026 | | 21,880 | | | 2027 | | 7,015 | | | 2028 | | 4,402 | | | Thereafter | | 6,201 | | | Total | | $ | 139,634 | |
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