Quarterly report pursuant to Section 13 or 15(d)

SUBSEQUENT EVENTS

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SUBSEQUENT EVENTS
3 Months Ended
Mar. 31, 2015
SUBSEQUENT EVENTS [Abstract]  
SUBSEQUENT EVENTS

NOTE 18. SUBSEQUENT EVENTS

 

Subsequent events reflect all applicable transactions through the date of the filing.

 

On April 1, 2015 we entered into an APA to acquire radio station KKSP-FM in Little Rock, Arkansas, for $1.5 million in cash. We began programming KKSP-FM, Little Rock Arkansas and KHTE-FM, Little Rock, Arkansas under TBA's as of April 1, 2015. The purchase of KKSP-FM is subject to the approval of the FCC and is expected to close in the second quarter of 2015. We will continue to program KHTE-FM under the TBA agreement.

 

On April 7, 2015, we acquired land in Greenville, South Carolina for $0.2 million in cash.

On May 6, 2015, we acquired domain names and mobile applications for the Daily Bible Devotion for $1.1 million in cash. Under terms of the APA, we may pay up to an additional $300,000 in contingent earn-out consideration payable over the next two years based upon on the achievement of certain benchmarks.

 

On May 7, 2015, we completed the acquisition of WDWD-AM in Atlanta, Georgia for $2.8 million in cash.