|12 Months Ended|
Dec. 31, 2017
|Subsequent Events [Abstract]|
NOTE 21. SUBSEQUENT EVENTS
On January 3, 2018, we entered an agreement to sell radio station WBIX-AM in Boston, Massachusetts for $0.7 million in cash. The sale is expected to close later in 2018.
On February 28, 2018, we announced a quarterly equity distribution in the amount of $0.0650 per share on Class A and Class B common stock. The equity distribution will be paid on March 28, 2018 to all Class A and Class B common stockholders of record as of March 14, 2018.
On March 1, 2018, we entered an APA to acquire radio station KZTS-FM in Little Rock, Arkansas for $1.1 million in cash. We will begin programming the station under an LMA on April 1, 2018. The sale is expected to close in June 2018.
Subsequent events reflect all applicable transactions through the date of the filing.
The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business.
Reference 1: http://www.xbrl.org/2003/role/presentationRef