Quarterly report pursuant to Section 13 or 15(d)

Goodwill (Tables)

v3.22.2
Goodwill (Tables)
 6 Months Ended
Jun. 30, 2022
Schedule of Changes in Goodwill
The following table presents the changes in goodwill including business acquisitions discussed in Note 3 of our Condensed Consolidated Financial Statements.
 
Goodwill
    Twelve Months Ended
December 31, 2021		     
Six Months Ended
June 30, 2022
  
    
(Dollars in thousands)
  
Balance, beginning of period before cumulative loss on impairment,
    $ 28,520     
$
28,749
  
Accumulated loss on impairment
      (4,763 )      
(4,763
)
 
    
 
 
     
 
 
  
Balance, beginning of period after cumulative loss on impairment
      23,757       
23,986
  
    
 
 
     
 
 
  
Acquisitions of radio stations
      4       
—
  		  
Acquisitions of digital media entities
      225       
2
  
Loss on impairment
      —         
(127
)
 
    
 
 
     
 
 
  
Ending period balance
    $ 23,986     
$
23,861
  
    
 
 
     
 
 
  
Balance, end of period before cumulative loss on impairment
      28,749       
28,751
  
Accumulated loss on impairment
      (4,763 )      
(4,890
)
 
    
 
 
     
 
 
  
Ending period balance
    $ 23,986     
$
23,861
  
    
 
 
     
 
 
  
Broadcast Markets Enterprise Valuations [Member]  
Schedule of Assumptions Used
The key estimates and assumptions used for our enterprise valuations were as follows:
 
Broadcast Markets Enterprise Valuations
    December 31, 2021  
June 30, 2022
Risk-adjusted discount rate
    8.5%  
9.5%
Operating profit margin ranges
    (1.4%) – 15.0%  
(7.8%) – 15.0%
Long-term revenue growth rates
    0.4%  
0.4%