GOODWILL, RADIO BROADCASTING LICENSES AND OTHER INTANGIBLE ASSETS (Tables)

12 Months Ended

Dec. 31, 2023

GOODWILL, RADIO BROADCASTING LICENSES AND OTHER INTANGIBLE ASSETS

Schedule of broadcasting licenses carrying value

	Total
	(In thousands)
Balance at January 1, 2022	$	501,420
Acquisitions		23,642
Disposals		(3,200)
Impairment charges		(33,443)
Balance at December 31, 2022	$	488,419
Acquisitions		23,431
Disposals		(7,276)
Impairment charges		(129,278)
Balance at December 31, 2023	$	375,296

Schedule of Radio Broadcasting licenses impairment test

Radio Broadcasting	December 31,			October 1,			September 30,			June 30,			March 31,			October 1,			September 30,			June 30,
Licenses	2023			2023			2023			2023 (a)			2023			2022			2022 (a)			2022 (a)
Impairment charge (in millions)	$	5.0		$	—		$	85.4		$	22.1		$	16.8	(*)	$	7.4		$	15.5		$	10.6	(*)
Discount rate		9.5 – 10.0	%		10.0	%		10.0	%		9.5	%		(**)			9.5	%		9.5	%		9.5	%
Revenue growth rate range		(2.3) % – 0.8	%		(1.7) % – 0.0	%		(1.7) % – 0.0	%		0.3 % – 1.4	%		(**)			0.0 % – 1.7	%		0.3 % – 1.6	%		0.7 % – 2.4	%
Terminal growth rate range		(0.5)	%		(0.5)	%		(0.5)	%		0.3 % – 0.8	%		(**)			0.3 % – 0.8	%		0.3 % – 0.8	%		0.7 % – 1.0	%
Mature market share range		5.2 % – 30.0	%		5.3 % – 29.5	%		5.3 % – 29.5	%		0.9 % – 28.8	%		(**)			6.8 % – 27.6	%		6.8 % – 27.6	%		6.9 % – 25.6	%
Operating profit margin range		17.0 % – 31.9	%		17.0 % – 33.5	%		17.0 % – 33.5	%		18.8 % – 34.6	%		(**)			27.2 % – 34.6	%		28.3 % – 36.1	%		28.3 % – 36.1	%

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

(*) Includes an impairment charge whereby the license fair value is based on estimated asset sale consideration.

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

Schedule of changes in carrying amount of goodwill

The table below presents the changes in the Company’s goodwill carrying values for its four reportable segments during 2023 and 2022:

	Radio		Reach				Cable
	Broadcasting		Media		Digital		Television
	Segment		Segment		Segment		Segment		Total
	(In thousands)
As of December 31, 2021
Gross goodwill	$	154,530	$	30,468	$	27,567	$	165,044	$	377,609
Accumulated impairment losses		(117,748)		(16,114)		(20,345)		—		(154,207)
Net goodwill at December 31, 2021	$	36,782	$	14,354	$	7,222	$	165,044	$	223,402
Additions		437		—		—		—		437
Impairments		(7,240)		—		—		—		(7,240)
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

Schedule of other intangible assets

														Remaining
														Weighted-
														Average
	As of December 31,												Period of	Period of
	2023						2022						Amortization	Amortization
	(In thousands)
	Gross Carrying		Accumulated		Net		Gross Carrying		Accumulated		Net
	Amount		Amortization		Amount		Amount		Amortization		Amount
Trade names	$	68	$	(62)	$	6	$	17,431	$	(17,418)	$	13	1‑5 Years	0.9 Years
Intellectual property		6,503		(6,503)		—		6,878		(6,878)		—	4‑10 Years	0.0 Years
Advertiser agreements		47,687		(47,687)		—		46,669		(45,728)		941	1‑12 Years	0.0 Years
Brand names		4,159		(3,637)		522		4,413		(3,732)		681	10 Years	3.8 Years
Brand names - unamortized		39,690		—		39,690		39,690		—		39,690	Indefinite	—
Launch assets, net of current portion		22,798		(14,091)		8,707		22,791		(9,104)		13,687	Contract length	2.9 Years
Other intangibles		234		(55)		179		849		(668)		181	1‑15 Years	6.6 Years
Total other intangible assets	$	121,139	$	(72,035)	$	49,104	$	138,721	$	(83,528)	$	55,193		3.5 Years

Schedule of estimated amortization expense

	(In thousands)
2024	$	281
2025		139
2026		135
2027		80
2028		48