Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED BALANCE SHEETS

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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Sep. 30, 2023
Dec. 31, 2022
Current assets:    
Cash and cash equivalents $ 0 $ 0
Accounts receivable (net of allowances of $7,939 in 2022 and $8,480 in 2023) 29,558 30,756
Unbilled revenue 2,360 2,890
Income tax receivable 343 195
Other receivables (net of allowances of $586 in 2022 and $640 in 2023) 1,621 1,817
Inventories 1,383 1,513
Prepaid expenses 10,186 7,619
Assets held for sale 8,344 267
Total current assets 53,795 45,057
Notes receivable (net of allowance of $571 in 2022 and $466 in 2023) 952 922
Property and equipment (net of accumulated depreciation of $191,638 in 2022 and $192,540 in 2023) 80,077 81,296
Operating lease right-of-use assets 45,106 43,671
Financing lease right-of-use assets 73 63
Broadcast licenses 260,193 303,774
Goodwill 22,766 24,085
Amortizable intangible assets (net of accumulated amortization of $59,383 in 2022 and $60,636 in 2023) 4,275 2,149
Deferred financing costs 77 681
Other assets 3,986 3,424
Total assets 471,300 505,122
Current liabilities:    
Accounts payable 9,484 6,539
Accrued expenses 16,666 17,495
Accrued compensation and related expenses 9,125 10,298
Accrued interest 3,861 949
Contract liabilities 12,725 11,901
Deferred rent income 109 122
Current portion of operating lease liabilities 8,900 8,305
Current portion of financing lease liabilities 36 43
Current portion of long-term debt 20,524 8,958
Total current liabilities 81,430 64,610
Long-term debt, less current portion 152,611 150,367
Operating lease liabilities, less current portion 42,808 42,406
Financing (capital) lease liabilities, less current portion 38 39
Deferred income taxes 55,077 66,732
Contract liabilities, long-term 3,534 1,886
Deferred rent income, less current portion 3,590 3,659
Other long-term liabilities 60 66
Total liabilities 339,148 329,765
Commitments and contingencies (Note 13)
Stockholders' Equity:    
Additional paid-in capital 249,160 248,820
Accumulated \deficit (83,290) (39,745)
Treasury stock, at cost (2,317,650 shares at December 31, 2022 and September 30, 2023) (34,006) (34,006)
Total stockholders' equity 132,152 175,357
Total liabilities and stockholders' equity 471,300 505,122
Common Class A [Member]    
Stockholders' Equity:    
Common stock 232 232
Common Class B [Member]    
Stockholders' Equity:    
Common stock $ 56 $ 56