Annual report pursuant to Section 13 and 15(d)

BROADCAST LICENSES (Tables)

v3.8.0.1
BROADCAST LICENSES (Tables)
 12 Months Ended
Dec. 31, 2017
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of changes in broadcasting licenses
The following table presents the changes in broadcasting licenses that include acquisitions of radio stations and FM translators as discussed in Note 4 – Acquisitions and Recent Transactions.
 
 
 
Year Ended December 31,
 
 
 
2016
 
2017
 
 
 
(Dollars in thousands)
 
Balance, beginning of period before cumulative loss on impairment
 
$
492,032
 
$
494,058
 
Accumulated loss on impairment
 
 
(99,001)
 
 
(105,541)
 
Balance, beginning of period after cumulative loss on impairment
 
 
393,031
 
 
388,517
 
Acquisitions of radio stations
 
 
74
 
 
191
 
Acquisitions of FM translators and construction permits
 
 
1,645
 
 
198
 
Capital projects to improve broadcast signal and strength
 
 
307
 
 
5
 
Sale of WQVN-AM (formerly WKAT-AM)
 
 
-
 
 
(7,997)
 
Impairments based on the estimated fair value of broadcast licenses
 
 
(6,540)
 
 
—
 
Balance, end of period before cumulative loss on impairment
 
$
494,058
 
$
486,455
 
Accumulated loss on impairment
 
 
(105,541)
 
 
(105,541)
 
Balance, end of period after cumulative loss on impairment
 
$
388,517
 
$
380,914