v3.26.1
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
CURRENT ASSETS:    
Cash and cash equivalents $ 27,198 $ 25,515
Restricted cash 844 843
Trade accounts receivable, net of allowance for expected credit losses of $3,222 and $4,178, respectively 70,899 88,676
Prepaid expenses 7,817 5,345
Current portion of content assets, net 38,441 39,469
Other current assets 4,677 4,604
Total current assets 149,876 164,452
CONTENT ASSETS, NET 68,491 72,552
PROPERTY AND EQUIPMENT, NET 33,474 33,384
RIGHT OF USE ASSETS, NET 38,127 35,331
GOODWILL, NET 132,347 132,382
OTHER ASSETS 9,818 9,252
NON-CURRENT ASSETS HELD-FOR-SALE 272 0
Total assets 573,403 592,994
CURRENT LIABILITIES:    
Accounts payable 14,605 14,017
Accrued interest 4,403 1,018
Accrued compensation and related benefits 10,513 11,048
Reserve for audience deficiency 12,135 14,217
Short-term borrowings under the asset-backed facility 10,000 10,000
Current portion of content payables 7,222 9,446
Current portion of lease liabilities 7,891 6,702
Other current liabilities 14,843 11,861
Current liabilities held-for-sale 19 0
Total current liabilities 81,631 78,309
LONG-TERM DEBT, net 412,110 429,742
CONTENT PAYABLES, net of current portion 4,340 5,059
LONG-TERM LEASE LIABILITIES 34,492 32,543
OTHER LONG-TERM LIABILITIES 7,554 8,392
DEFERRED TAX LIABILITIES, NET 10,274 11,715
Total liabilities 550,401 565,760
COMMITMENTS AND CONTINGENCIES (NOTE 12)
REDEEMABLE NON-CONTROLLING INTERESTS 0 2,631
STOCKHOLDERS’ EQUITY:    
Convertible preferred stock, $.001 par value, 1,000,000 shares authorized; no shares outstanding at March 31, 2026 and December 31, 2025 0 0
Treasury stock, at cost — 90,889 shares at each of March 31, 2026 and December 31, 2025 (1,345) (1,345)
Additional paid-in capital 1,013,056 1,011,578
Accumulated deficit (988,713) (985,634)
Total stockholders’ equity 23,002 24,603
Total liabilities, redeemable non-controlling interests, and stockholders’ equity 573,403 592,994
Radio Broadcasting Licenses    
CURRENT ASSETS:    
RADIO BROADCASTING LICENSES, NET / OTHER INTANGIBLE ASSETS, NET 117,046 121,014
Other Intangible Assets    
CURRENT ASSETS:    
RADIO BROADCASTING LICENSES, NET / OTHER INTANGIBLE ASSETS, NET 23,952 24,627
Common Stock Class A    
STOCKHOLDERS’ EQUITY:    
Common stock 1 1
Common Stock Class B    
STOCKHOLDERS’ EQUITY:    
Common stock 0 0
Common Stock Class C    
STOCKHOLDERS’ EQUITY:    
Common stock 0 0
Common Stock Class D    
STOCKHOLDERS’ EQUITY:    
Common stock $ 3 $ 3