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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
CURRENT ASSETS:    
Cash and cash equivalents $ 137,090 $ 233,090
Restricted cash 484 480
Trade accounts receivable, net of allowance for expected credit losses of $4,553 and $8,638, respectively 113,847 133,194
Prepaid expenses 8,156 9,504
Current portion of content assets 36,861 29,748
Other current assets 8,941 15,950
Total current assets 305,379 421,966
CONTENT ASSETS, NET 86,868 82,448
PROPERTY AND EQUIPMENT, NET 27,822 28,661
GOODWILL 196,425 216,599
RIGHT OF USE ASSETS, NET 31,055 31,649
RADIO BROADCASTING LICENSES 257,759 375,296
OTHER INTANGIBLE ASSETS, NET 30,860 49,104
OTHER ASSETS 8,622 5,450
Total assets 944,790 1,211,173
CURRENT LIABILITIES:    
Accounts payable 19,945 20,000
Accrued interest 18,028 22,342
Accrued compensation and related benefits 11,899 14,420
Reserve for audience deficiency 22,383 12,779
Current portion of content payables 14,233 22,389
Current portion of lease liabilities 7,428 10,648
Other current liabilities 20,386 30,052
Total current liabilities 114,302 132,630
LONG-TERM DEBT, net of original issue discount and issuance costs 579,069 716,246
CONTENT PAYABLES, net of current portion 6,020 3,402
LONG-TERM LEASE LIABILITIES 24,373 22,377
OTHER LONG-TERM LIABILITIES 12,788 24,995
DEFERRED TAX LIABILITIES, NET 29,305 20,938
Total liabilities 765,857 920,588
COMMITMENTS AND CONTINGENCIES (NOTE 19)
REDEEMABLE NON-CONTROLLING INTERESTS 7,988 16,520
STOCKHOLDERS’ EQUITY:    
Convertible preferred stock, $.001 par value, 1,000,000 shares authorized; no shares outstanding at December 31, 2024 and 2023 0 0
Treasury stock, value (1,345) 0
Additional paid-in capital 1,011,007 1,007,387
Accumulated deficit (838,765) (733,371)
Total stockholders’ equity 170,945 274,065
Total liabilities, redeemable non-controlling interests and stockholders’ equity 944,790 1,211,173
Common Stock Class A    
STOCKHOLDERS’ EQUITY:    
Common stock value 8 10
Common Stock Class B    
STOCKHOLDERS’ EQUITY:    
Common stock value 3 3
Common Stock Class C    
STOCKHOLDERS’ EQUITY:    
Common stock value 2 2
Common Stock Class D    
STOCKHOLDERS’ EQUITY:    
Common stock value $ 35 $ 34