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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Cash flows from operating activities:    
Net income $ 6,999 $ 4,923
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 3,737 3,834
Deferred income tax expense 690 960
Amortization of deferred costs 27 9
Compensation expense related to restricted stock awards 743 1,726
Loss on sale of assets, net 125 3
Other (gain) loss, net (119) 3
Barter (revenue) expense, net 44 (40)
Deferred and other compensation (239) 1,422
Changes in assets and liabilities:    
(Increase) decrease in receivables and prepaid expenses (51) (23)
Increase (decrease) in accounts payable, accrued expenses, and other liabilities 1,965 1,545
Total adjustments 6,922 9,439
Net cash provided by operating activities 13,921 14,362
Cash flows from investing activities:    
Purchase of short-term investments (14,441) (14,000)
Redemption of short-term investments 14,437 4,000
Acquisition of property and equipment (Capital Expenditures) (3,397) (4,731)
Acquisition of broadcast properties   (57)
Proceeds from sale and disposal of assets 621 66
Other investing activities 117  
Net cash used in investing activities (2,663) (14,722)
Cash flows from financing activities:    
Cash dividends paid (16,816) (6,167)
Purchase of treasury shares   (7)
Net cash used in financing activities (16,816) (6,174)
Net increase (decrease) in cash and cash equivalents (5,558) (6,534)
Cash and cash equivalents, beginning of period 36,802 54,760
Cash and cash equivalents, end of period $ 31,244 $ 48,226