Investments

12 Months Ended

Dec. 31, 2023

Investments [Abstract]

Investments

Investments

Investments consisted of the following:

	As of December 31,
(in thousands)	2023		2022
Investments held at cost	$	21,169	$	20,890
Equity method investments	2,096		2,254
Total investments	$	23,265	$	23,144

Our investments do not trade in public markets, thus they do not have readily determinable fair values. On February 9, 2024, following the completed sale of Broadcast Music, Inc. ("BMI") to New Mountain Capital, we received $18.1 million in pre-tax cash proceeds for our equity ownership in BMI. We did not have any carrying value associated with our BMI investment. Other than our equity interest in BMI, we estimate the fair values of our other investments to approximate their carrying values at December 31, 2023 and 2022.