Acquisitions and Dispositions (Tables)

12 Months Ended

Dec. 31, 2023

Asset Acquisition [Line Items]

Summary Of Loss On Termination

The loss on termination is summarized as follows:

Termination payment	$	6,000,000
Goodwill (see Note 6)		(1,761,100	)
Other intangibles (see Note 7)		(4,529,447	)
Loss on termination	$	(290,547	)

Summary Of Asset Allocation Based On Fair Value

The asset allocation is summarized as follows:

Property and equipment	$	302,336
FCC license		5,451,000
Fair value of assets received		5,753,336
Carrying amount of assets of exchanged station		(2,402,797	)
Gain on exchange	$	3,350,539

Summary of Schedule of Assumptions Used in Valuation of FCC Licenses

The key assumptions used in the discounted cash flow analyses are as follows:

Revenue growth rates	(1.2)% - 1.8%
Market revenue shares at maturity	0.4% - 44.7%
Operating income margins at maturity	19.7% - 30.4%
Discount rate	10.0%

The key assumptions used in the discounted cash flow analyses are as follows:

Revenue growth rates	(16.5)% - 24.4%
Market revenue shares at maturity	0.4% - 45.5%
Operating income margins at maturity	19.7% - 29.9%
Discount rate	10.0%

The key assumptions used in the discounted cash flow analyses are as follows:

Revenue growth rates	(1.9)% - 15.9%
Market revenue shares at maturity	0.6% - 44.0%
Operating income margins at maturity	19.2% - 32.6%
Discount rate	9.5%

The key assumptions used in the discounted cash flow analyses are as follows:

Revenue growth rates	0.3% - 2.7%
Market revenue shares at maturity	0.7% - 44.7%
Operating income margins at maturity	19.7% - 30.4%
Discount rate	9.5%

Schedule of Purchase Price Allocation

The final purchase price allocation was completed during the third quarter of 2022. The final purchase price allocation is summarized as follows:

Property and equipment	$	3,000
Goodwill		922,000
Other intangibles		1,075,000
	$	2,000,000

FCC License [Member]

Asset Acquisition [Line Items]

Summary of Schedule of Assumptions Used in Valuation of FCC Licenses

The key assumptions used in the valuation of the FCC license are as follows:

Revenue growth rates	0.3% - 1.5%
Market revenue shares at maturity	5.2%
Operating income margins at maturity	23.3%
Discount rate	9.5%