Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED BALANCE SHEETS

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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2021
Dec. 31, 2020
Current assets:    
Cash and cash equivalents $ 1,785 $ 6,325
Accounts receivable (net of allowances of $14,069 in 2020 and $13,022 in 2021) 25,663 24,469
Unbilled revenue 3,406 3,192
Other receivables (net of allowances of $124 in 2020 and $455 in 2021) 1,377 1,122
Inventories 960 495
Prepaid expenses 6,772 6,847
Assets held for sale 1,551 3,346
Total current assets 41,514 45,796
Notes receivable (net of allowance of $461 in 2020 and $938 in 2021) 274 721
Property and equipment (net of accumulated depreciation of $180,336 in 2020 and $186,053 in 2021) 79,339 79,122
Operating lease right-of-use assets 43,560 48,203
Financing lease right-of-use assets 105 152
Broadcast licenses 320,008 319,773
Goodwill 23,986 23,757
Amortizable intangible assets (net of accumulated amortization of $58,897 in 2020 and $58,110 in 2021) 2,444 4,017
Deferred financing costs 843 213
Other assets 4,039 2,817
Total assets 516,112 524,571
Current liabilities:    
Accounts payable 2,661 2,006
Accrued expenses 12,006 11,002
Accrued compensation and related expenses 13,054 10,242
Accrued interest 1,030 1,225
Contract liabilities 12,294 11,652
Deferred rent income 157 147
Income taxes payable 1,544 563
Current portion of operating lease liabilities 8,651 8,963
Current portion of financing lease liabilities 58 60
Current portion of long-term debt 0 5,000
Total current liabilities 51,455 50,860
Long-term debt, less current portion 170,581 213,764
Operating lease liabilities, less current portion 42,208 47,740
Financing lease liabilities, less current portion 65 107
Deferred income taxes 67,012 68,883
Contract liabilities, long-term 2,222 1,869
Deferred rent income, less current portion 3,772 3,864
Other long-term liabilities 586 2,205
Total liabilities 337,901 389,292
Commitments and contingencies (Note 14)
Stockholders' Equity:    
Additional paid-in capital 248,438 247,025
Accumulated earnings (deficit) (36,509) (78,023)
Treasury stock, at cost (2,317,650 shares at December 31, 2020 and 2021) (34,006) (34,006)
Total stockholders' equity 178,211 135,279
Total liabilities and stockholders' equity 516,112 524,571
Common Class A [Member]    
Stockholders' Equity:    
Common stock 232 227
Common Class B [Member]    
Stockholders' Equity:    
Common stock $ 56 $ 56