SUBSEQUENT EVENTS |
9 Months Ended | |
|---|---|---|
Sep. 30, 2016 | ||
| Subsequent Events [Abstract] | ||
| SUBSEQUENT EVENTS |
NOTE 18. SUBSEQUENT EVENTS On November 7, 2016, we closed on the acquisition of an FM translator in Sebring, Florida for $0.1 million. The FM translator will be used by our WKAT-AM radio station in Miami, Florida. On October 20, 2016, we closed on the acquisition of radio station KXFN-AM in St. Louis, Missouri for $0.2 million of cash. The station is currently dark and will be relaunched and operated within our existing St. Louis market cluster. On October 20, 2016, we closed on the acquisition of three FM translator construction permits for $0.1 million of cash. The FM translator construction permits were based in Angola, Indiana, Cofax, Indiana and Battle Creek, Michigan and will be used by WKH-AM and WHKW-AM, our radio stations in Cleveland, Ohio and WSDZ-AM our radio station in St. Louis, Missouri. On October 19, 2016, we closed on the acquisition of an FM translator construction permit in Palm Coast, Florida for $65,000 in cash from a related party. This translator will be used by our WTWD-AM radio station in Tampa, Florida. On October 17, 2016 we purchased two websites, www.historyonthenet.com and www.authentichistory.com for $0.1 million. On October 12, 2016, we closed on the acquisition of an FM Translator in Lake City, Florida for $65,000 in cash from a related party. This translator will be used by our WBZW-AM radio station in Orlando, Florida. On October 7, 2016, we entered into an APA to acquire an FM Translator construction permit in Quartz Site, Arizona for $20,000 in cash. We expect the transaction to close in the fourth quarter of 2016. This translator will be used by KPRZ-AM in our San Diego radio station (market). Subsequent events reflect all applicable transactions through the date of the filing. |