NOTE 7. BROADCAST LICENSES

 

The following table presents the changes in broadcasting licenses that include acquisitions of radio stations and FM translators as discussed in Note 4 of our Condensed Consolidated financial statements.

 

Broadcast Licenses		Twelve Months Ending December 31,  2016			Three Months Ending March 31,  2017
		(Dollars in thousands)
Balance, beginning of period before cumulative loss on impairment		$	492,032		$	494,058
Accumulated loss on impairment			(99,001)			(105,541)
Balance, beginning of period after cumulative loss on impairment			393,031			388,517
Acquisitions of radio stations			74			—
Acquisitions of FM translators			1,645			118
Capital projects to improve broadcast signal and strength			307			28
Impairments based on estimated fair value of broadcast licenses			(6,540)			—
Balance, end of period before cumulative loss on impairment			494,058			494,204
Accumulated loss on impairment			(105,541)			(105,541)
Balance, end of period after cumulative loss on impairment		$	388,517		$	388,663