Long-Term Debt - Asset-Based Revolving Credit Facility - Additional Information (Detail) - USD ($)
|
|
|
3 Months Ended |
Oct. 20, 2020 |
May 19, 2017 |
Mar. 31, 2021 |
Mar. 31, 2020 |
| Debt Instrument [Line Items] |
|
|
|
|
| Debt instrument, debt default, description of violation or event of default |
|
|
$ 216,300,000
|
|
| Amortization of financing costs |
|
|
213,000
|
$ 227,000
|
| Debt related commitment fees and debt issuance costs |
|
|
$ 6,300,000
|
|
| Line of credit facility covenant compliance |
we entered into a fourth amendment to our ABL Facility that provides a one-time waiver with respect to the current covenant testing period allowing the covenant trigger event date be the first day after the availability on the ABL Facility had equaled or exceeded (1) 15% of the maximum revolver amount and (2) $4.5 million and a waiver permitting
|
|
|
|
| Asset-Based Revolving Credit Facility [Member] |
|
|
|
|
| Debt Instrument [Line Items] |
|
|
|
|
| Debt instrument, debt default, description of violation or event of default |
|
$ 30,000,000
|
|
|
| Debt instrument, debt default, description of violation or event of default |
|
|
The Credit Agreement provides for the following events of default: (i) default for non-payment of any principal or letter of credit reimbursement when due or any interest, fees or other amounts within five days of the due date; (ii) the failure by any borrower or any subsidiary to comply with any covenant or agreement contained in the Credit Agreement or any other loan document, in certain cases subject to applicable notice and lapse of time; (iii) any representation or warranty made pursuant to the Credit Agreement or any other loan document is incorrect in any material respect when made; (iv) certain defaults of other indebtedness of any borrower or any subsidiary of indebtedness of at least $10 million; (v) certain events of bankruptcy or insolvency with respect to any borrower or any subsidiary; (vi) certain judgments for the payment of money of $10 million or more; (vii) a change of control; and (viii) certain defaults relating to the loss of FCC licenses, cessation of broadcasting and termination of material station contracts.
|
|
| Aggregate indebtedness |
|
|
$ 10,000,000
|
|
| Amortization of financing costs |
|
|
900,000
|
|
| Asset-Based Revolving Credit Facility [Member] |
|
|
|
|
| Debt Instrument [Line Items] |
|
|
|
|
| Debt instrument, debt default, description of violation or event of default |
|
|
$ 0
|
|
| Debt instrument, interest rate, increase (decrease) |
|
2.00%
|
|
|
| Maturity date |
|
|
Mar. 01, 2024
|
|
| Line of credit facility, covenant terms |
|
|
The Credit Agreement includes a springing fixed charge coverage ratio of 1.0 to 1.0, which is tested during the period commencing on the last day of the fiscal month most recently ended prior to the date on which Availability (as defined in the Credit Agreement) is less than the greater of 15% of the Maximum Revolver Amount (as defined in the Credit Agreement) and $4.5 million and continuing for a period of 60 consecutive days after the first day on which Availability exceeds such threshold amount.
|
|
| ABL Borrowings descriptions |
|
|
Availability under the ABL Facility is subject to a borrowing base consisting of (a) 90% of the eligible accounts receivable plus (b) a calculated amount based on the value of certain real property.
|
|
| Debt instrument current borrowing capacity |
|
|
$ 26,100,000
|
|
| Asset-Based Revolving Credit Facility [Member] | Letter of Credit [Member] |
|
|
|
|
| Debt Instrument [Line Items] |
|
|
|
|
| Debt instrument, debt default, description of violation or event of default |
|
$ 5,000,000
|
|
|
| Asset-Based Revolving Credit Facility [Member] | Swingline Credit Facility [Member] |
|
|
|
|
| Debt Instrument [Line Items] |
|
|
|
|
| Debt instrument, debt default, description of violation or event of default |
|
$ 7,500,000
|
|
|
| Abl Facility [Member] | Asset-Based Revolving Credit Facility [Member] |
|
|
|
|
| Debt Instrument [Line Items] |
|
|
|
|
| Debt related commitment fees and debt issuance costs |
|
|
$ 29,000,000
|
$ 41,000,000
|
| Minimum [Member] | Asset-Based Revolving Credit Facility [Member] |
|
|
|
|
| Debt Instrument [Line Items] |
|
|
|
|
| Line of credit facility, unused capacity, commitment fee percentage |
|
0.25%
|
0.25%
|
|
| Minimum [Member] | Asset-Based Revolving Credit Facility [Member] |
|
|
|
|
| Debt Instrument [Line Items] |
|
|
|
|
| Percentage of advance rate on eligible accounts receivable |
|
|
85.00%
|
|
| Minimum [Member] | Asset-Based Revolving Credit Facility [Member] | Base Rate [Member] |
|
|
|
|
| Debt Instrument [Line Items] |
|
|
|
|
| Debt instrument, basis spread on variable rate |
|
0.50%
|
|
|
| Minimum [Member] | Asset-Based Revolving Credit Facility [Member] | London Interbank Offered Rate (LIBOR) [Member] |
|
|
|
|
| Debt Instrument [Line Items] |
|
|
|
|
| Debt instrument, basis spread on variable rate |
|
1.50%
|
|
|
| Maximum [Member] | Asset-Based Revolving Credit Facility [Member] |
|
|
|
|
| Debt Instrument [Line Items] |
|
|
|
|
| Line of credit facility, unused capacity, commitment fee percentage |
|
|
0.375%
|
|
| Maximum [Member] | Asset-Based Revolving Credit Facility [Member] |
|
|
|
|
| Debt Instrument [Line Items] |
|
|
|
|
| Line of credit facility, unused capacity, commitment fee percentage |
|
0.375%
|
|
|
| Percentage of advance rate on eligible accounts receivable |
|
|
90.00%
|
|
| Maximum [Member] | Asset-Based Revolving Credit Facility [Member] | Base Rate [Member] |
|
|
|
|
| Debt Instrument [Line Items] |
|
|
|
|
| Debt instrument, basis spread on variable rate |
|
1.00%
|
|
|
| Maximum [Member] | Asset-Based Revolving Credit Facility [Member] | London Interbank Offered Rate (LIBOR) [Member] |
|
|
|
|
| Debt Instrument [Line Items] |
|
|
|
|
| Debt instrument, basis spread on variable rate |
|
2.00%
|
|
|