XML 17 R2.htm IDEA: XBRL DOCUMENT v3.20.2
Unaudited Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2020
Dec. 31, 2019
Current assets:    
Cash and cash equivalents $ 36,600 $ 20,856
Receivables:    
Trade 35,615 40,394
Barter 141 197
Total Receivables 35,756 40,591
Less allowance for doubtful accounts 1,277 1,122
Net receivables 34,479 39,469
Prepaid expenses and other current assets 7,848 7,475
Assets held for sale   12,474
Total current assets 78,927 80,274
Property and equipment, net of accumulated depreciation of $60,443 in 2020 and $60,004 in 2019 22,865 23,022
FCC broadcasting licenses 297,179 311,282
Goodwill 32,806 32,806
Operating lease right-of-use assets 17,159 17,978
Other assets 4,425 3,682
Total assets 453,361 469,044
Current liabilities:    
Accounts payable and accrued expenses 19,719 20,333
Accrued interest 1,617 1,513
Unearned revenue 1,602 991
Operating lease liabilities 840 948
Liabilities held for sale   1,510
12.5% senior secured notes (note 9) 249,864 249,864
10 3/4% Series B cumulative exchangeable redeemable preferred stock outstanding and dividends outstanding, $0.01 par value, liquidation value $1,000 per share. Authorized 280,000 shares: 90,549 shares issued and outstanding at March 31, 2020 and December 31, 2019 and $96,934 and $94,500 of dividends payable as of March 31, 2020 and December 31, 2019, respectively (note 10) 187,483 185,049
Total current liabilities 461,125 460,208
Other liabilities, less current portion 2,808 2,877
Operating lease liabilities - net of current portion 17,350 17,538
Deferred tax liabilities 66,703 68,718
Total liabilities 547,986 549,341
Commitments and contingencies (note 7)
Stockholders’ deficit:    
Additional paid-in capital 526,203 526,201
Accumulated deficit (620,832) (606,502)
Total stockholders’ deficit (94,625) (80,297)
Total liabilities and stockholders’ deficit 453,361 469,044
Series C convertible preferred stock    
Stockholders’ deficit:    
Series C convertible preferred stock, $0.01 par value and liquidation value. Authorized 600,000 shares; 380,000 shares issued and outstanding at March 31, 2020 and December 31, 2019 $ 4 $ 4