v3.25.2
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
CURRENT ASSETS:    
Cash and cash equivalents $ 85,732 $ 137,090
Restricted cash 485 484
Trade accounts receivable, net of allowance for expected credit losses of $3,839 and $4,553, respectively 93,836 113,847
Prepaid expenses 10,602 8,156
Current portion of content assets 37,308 36,861
Other current assets 5,039 8,941
Total current assets 233,002 305,379
CONTENT ASSETS, NET 83,633 86,868
PROPERTY AND EQUIPMENT, NET 28,777 27,822
RIGHT OF USE ASSETS, NET 31,967 31,055
GOODWILL 187,676 196,425
RADIO BROADCASTING LICENSES, NET 128,705 257,759
OTHER INTANGIBLE ASSETS, NET 26,628 30,860
OTHER ASSETS 8,839 8,622
Total assets 729,227 944,790
CURRENT LIABILITIES:    
Accounts payable 13,990 19,945
Accrued interest 15,193 18,028
Accrued compensation and related benefits 8,735 11,899
Reserve for audience deficiency 17,236 22,383
Current portion of content payables 9,342 14,233
Current portion of lease liabilities 5,567 7,428
Other current liabilities 18,338 20,386
Total current liabilities 88,401 114,302
LONG-TERM DEBT, net of original issue discount and issuance costs 488,396 579,069
CONTENT PAYABLES, net of current portion 5,526 6,020
LONG-TERM LEASE LIABILITIES 28,242 24,373
OTHER LONG-TERM LIABILITIES 11,011 12,788
DEFERRED TAX LIABILITIES, NET 22,892 29,305
Total liabilities 644,468 765,857
COMMITMENTS AND CONTINGENCIES (NOTE 13)
REDEEMABLE NON-CONTROLLING INTERESTS 2,577 7,988
STOCKHOLDERS’ EQUITY:    
Convertible preferred stock, $.001 par value, 1,000,000 shares authorized; no shares outstanding at June 30, 2025 and December 31, 2024 0 0
Treasury stock, at cost — 908,894 shares at each of June 30, 2025 and December 31, 2024 (1,345) (1,345)
Additional paid-in capital 1,011,890 1,011,007
Accumulated deficit (928,409) (838,765)
Total stockholders’ equity 82,182 170,945
Total liabilities, redeemable non-controlling interests, and stockholders’ equity 729,227 944,790
Common Stock Class A    
STOCKHOLDERS’ EQUITY:    
Common stock 7 8
Common Stock Class B    
STOCKHOLDERS’ EQUITY:    
Common stock 3 3
Common Stock Class C    
STOCKHOLDERS’ EQUITY:    
Common stock 2 2
Common Stock Class D    
STOCKHOLDERS’ EQUITY:    
Common stock $ 34 $ 35