GOODWILL AND OTHER INTANGIBLE ASSETS (Tables)

12 Months Ended

Dec. 31, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Broadcasting Licenses Carrying Value

The table below presents the changes in the Company’s radio broadcasting licenses during 2024 and 2023:

	Total
	(in thousands)
Balance at January 1, 2023	$	488,419
Acquisitions	23,431
Disposals	(7,276)
Impairment charges	(129,278)
Balance at December 31, 2023	$	375,296
Acquisitions(a)	955
Disposals	—
Impairment charges	(118,492)
Balance at December 31, 2024	$	257,759

(a) Measurement period adjustment related to the CMG Acquisition and addition from the La Mega transaction as defined in Note 11 - Acquisitions And Dispositions of the Company's consolidated financial statements.

Schedule of Radio Broadcasting Licenses Impairment Test

Below are some of the key assumptions used in the income approach for estimating the radio broadcasting license fair values for the annual impairment assessment performed and interim impairment assessment where an impairment charge was recorded as a result of quantitative assessments since January 1, 2023. 

Radio Broadcasting Licenses	September 30, 2024***			June 30, 2024 (*)			December 31, 2023			September 30, 2023***			June 30, 2023 (a)			March 31, 2023
Impairment charge (in millions)	$	37.7		$	80.8		$	5.0		$	85.4		$	22.1		$	16.8
Discount rate	10.5		%	10.0		%	9.5% – 10.0%			10.0		%	9.5		%	(**)
Revenue growth rate range	(4.0) % – 0.3 %			(3.2) % – 0.2 %			(2.3) % – 0.8%			(1.7) % – 0.0 %			0.3 % – 1.4 %			(**)
Terminal growth rate range	(0.5)		%	(0.5)		%	(0.5)		%	(0.5)		%	0.3 % – 0.8 %			(**)
Mature market share range	1.1 % – 30.5 %			1.0 % – 28.5 %			5.2 % – 30.0 %			5.3 % – 29.5 %			0.9% – 28.8%			(**)
Operating profit range	1.3 % – 30.0 %			2.5 % – 30.0 %			17.0% – 31.9%			17.0 % – 33.5 %			18.8% – 34.6%			(**)

(*) Key assumptions presented on the table for these periods relate to certain markets that were quantitatively assessed as part of the interim impairment assessments.

(**) As fair value is based on estimated asset sale consideration, key assumptions under the income approach are not applicable.

(***) Annual impairment testing assumptions were consistent with the interim impairment testing.

Schedule of Changes in Carrying Amount of Goodwill

The table below presents the changes in the Company’s goodwill carrying values for its four reporting units during 2024 and 2023:

	Radio Broadcasting		Reach Media		iOne		TV One		Total
	(in thousands)
As of December 31, 2022
Gross goodwill	$	154,967	$	30,468	$	27,567	$	165,044	$	378,046
Accumulated impairment losses	(124,988)		(16,114)		(20,345)		—		(161,447)
Net goodwill at December 31, 2022	$	29,979	$	14,354	$	7,222	$	165,044	$	216,599
Additions	—		—		—		—		—
Impairments	—		—		—		—		—
As of December 31, 2023
Gross goodwill	$	154,967	$	30,468	$	27,567	$	165,044	$	378,046
Accumulated impairment losses	(124,988)		(16,114)		(20,345)		—		(161,447)
Net goodwill at December 31, 2023	$	29,979	$	14,354	$	7,222	$	165,044	$	216,599
Additions	—		—		—		—		—
Impairments	—		—		—		(20,174)		(20,174)
As of December 31, 2024
Gross goodwill	$	154,967	$	30,468	$	27,567	$	165,044	$	378,046
Accumulated impairment losses	(124,988)		(16,114)		(20,345)		(20,174)		(181,621)
Net goodwill at December 31, 2024	$	29,979	$	14,354	$	7,222	$	144,870	$	196,425

Schedule of Estimate the Fair Value of the Broadcasting Licenses

Below are the key assumptions used in the relief from royalty approach model for estimating the fair value of the trade name for the TV One in the most recent interim impairment assessment performed as of December 31, 2024.

	December 31, 2024
Discount rate	11.5	%
Revenue growth rate range	(12.2)% - 1.9%
Terminal growth rate	(1.5)	%
Royalty payments avoided	2.5	%
Cumulative probability of continued use	100	%

Schedule of Other Intangible Assets

The following table presents the changes in the Company’s trade name carrying value during the year ended December 31, 2024.

	TV One Trade Name
	(in thousands)
As of December 31, 2023
Gross trade name	$	39,690
Impairments	—
Net trade name at December 31, 2023	$	39,690
Additions	—
Impairments	(13,089)
Net trade name at December 31, 2024(a)	$	26,601

(a) TV One Trade Name is included within Other Intangible Assets, net as seen below.

Other intangible assets, excluding goodwill, radio broadcasting licenses and the TV One Trade Name, are amortized on a straight-line basis over various periods. Other intangible assets consist of the following:

	As of December 31,												Period of Amortization	Remaining Weighted- Average Period of Amortization
	2024						2023
	(in thousands)
	Gross Carrying Amount		Accumulated Amortization		Net Amount		Gross Carrying Amount		Accumulated Amortization		Net Amount
Intellectual property	6,503		(6,503)		—		6,503		(6,503)		—		4‑10 Years	0.0 Years
Advertiser agreements	47,687		(47,687)		—		47,687		(47,687)		—		1‑12 Years	0.0 Years
Brand names	4,161		(3,803)		358		4,159		(3,637)		522		10 Years	3.1 Years
Trade Name - unamortized	26,600		—		26,600		39,690		—		39,690		Indefinite	—
Launch assets, net of current portion	22,798		(19,071)		3,727		22,798		(14,091)		8,707		Contract length	2.2 Years
Other	302		(127)		175		302		(117)		185		1‑15 Years	5.4 Years
Total other intangible assets	$	108,051	$	(77,191)	$	30,860	$	121,139	$	(72,035)	$	49,104