Salem Media Group, Inc. Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

FAIR VALUE MEASURMENTS AND DISCLOSURES (Tables)

FAIR VALUE MEASURMENTS AND DISCLOSURES (Tables)

12 Months Ended

Dec. 31, 2016

Fair Value Disclosures [Abstract]

Fair Value of Financial Assets and Liabilities Measured at Fair Value

The following table summarizes the fair value of our financial assets and liabilities that are measured at fair value:

December 31, 2016

Fair Value Measurement Category

Total Fair Value

and Carrying

Value on

Balance Sheet

Level 1

Level 2

Level 3

(Dollars in thousands)

Assets

Estimated fair value of broadcast licenses

388,517

123,109

Estimated fair value of other indefinite-lived intangible assets

332

Liabilities:

Estimated fair value of contingent earn-out consideration included in accrued expenses

Long-term debt and capital lease obligations less unamortized discount and debt issuance costs

261,674

Fair value of interest rate swap

514

- Definition

Tabular disclosure of financial instruments measured at fair value, including those classified in shareholders' equity measured on a recurring or nonrecurring basis. Disclosures include, but are not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. Nonrecurring fair value measurements are those that are required or permitted in the statement of financial position in particular circumstances.

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