v3.26.1
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
CURRENT ASSETS:    
Cash and cash equivalents $ 15,358 $ 25,515
Restricted cash 844 843
Trade accounts receivable, net of allowance for expected credit losses of $3,088 and $4,178, respectively 78,777 88,676
Prepaid expenses 9,438 5,345
Current portion of content assets, net 36,415 39,469
Other current assets 7,201 4,604
Total current assets 148,033 164,452
CONTENT ASSETS, NET 66,794 72,552
PROPERTY AND EQUIPMENT, NET 32,695 33,384
RIGHT OF USE ASSETS, NET 35,122 35,331
GOODWILL, NET 117,818 132,382
OTHER ASSETS 9,682 9,252
NON-CURRENT ASSETS HELD-FOR-SALE 2,934 0
Total assets 551,512 592,994
CURRENT LIABILITIES:    
Accounts payable 11,967 14,017
Accrued interest 1,790 1,018
Accrued compensation and related benefits 8,444 11,048
Reserve for audience deficiency 9,839 14,217
Short-term borrowings under the asset-backed facility 20,000 10,000
Current portion of content payables 6,809 9,446
Current portion of lease liabilities 7,516 6,702
Other current liabilities 13,899 11,861
Current liabilities held-for-sale 48 0
Total current liabilities 80,312 78,309
LONG-TERM DEBT, net 399,298 429,742
CONTENT PAYABLES, net of current portion 3,159 5,059
LONG-TERM LEASE LIABILITIES 32,975 32,543
OTHER LONG-TERM LIABILITIES 7,863 8,392
NON-CURRENT LIABILITIES HELD-FOR-SALE 106 0
DEFERRED TAX LIABILITIES, NET 8,571 11,715
Total liabilities 532,284 565,760
COMMITMENTS AND CONTINGENCIES (NOTE 13)
REDEEMABLE NON-CONTROLLING INTERESTS 0 2,631
STOCKHOLDERS’ EQUITY:    
Convertible preferred stock, $.001 par value, 1,000,000 shares authorized; no shares outstanding at June 30, 2026 and December 31, 2025 0 0
Treasury stock, at cost — 90,889 shares at each of June 30, 2026 and December 31, 2025 (1,345) (1,345)
Additional paid-in capital 1,013,440 1,011,578
Accumulated deficit (995,786) (985,634)
Total stockholders’ equity 16,313 24,603
Non-controlling interests 2,915 0
Total equity 19,228 24,603
Total liabilities, redeemable non-controlling interests, and equity 551,512 592,994
Radio Broadcasting Licenses    
CURRENT ASSETS:    
RADIO BROADCASTING LICENSES, NET / OTHER INTANGIBLE ASSETS, NET 115,244 121,014
Other Intangible Assets    
CURRENT ASSETS:    
RADIO BROADCASTING LICENSES, NET / OTHER INTANGIBLE ASSETS, NET 23,190 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