Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED BALANCE SHEETS

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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2022
Dec. 31, 2021
Current assets:    
Cash and cash equivalents $ 0 $ 1,785
Accounts receivable (net of allowances of $13,022 in 2021 and $7,939 in 2022) 30,756 25,663
Unbilled revenue 2,890 3,406
Income tax receivable 195 0
Other receivables (net of allowances of $455 in 2021 and $586 in 2022) 1,817 1,377
Inventories 1,513 960
Prepaid expenses 7,619 6,772
Assets held for sale 267 1,551
Total current assets 45,057 41,514
Notes receivable (net of allowance of $938 in 2021 and $571 in 2022) 922 274
Property and equipment (net of accumulated depreciation of $186,053 in 2021 and $191,638 in 2022) 81,296 79,339
Operating lease right-of-use assets 43,671 43,560
Financing lease right-of-use assets 63 105
Broadcast licenses 303,774 320,008
Goodwill 24,085 23,986
Amortizable intangible assets (net of accumulated amortization of $58,110 in 2021 and $59,383 in 2022) 2,149 2,444
Deferred financing costs 681 843
Other assets 3,424 4,039
Total assets 505,122 516,112
Current liabilities:    
Accounts payable 6,539 2,661
Accrued expenses 17,495 12,006
Accrued compensation and related expenses 10,298 13,054
Accrued interest 949 1,030
Contract liabilities 11,901 12,294
Deferred rent income 122 157
Income taxes payable 0 1,544
Current portion of operating lease liabilities 8,305 8,651
Current portion of financing lease liabilities 43 58
Current portion of long-term debt 8,958 0
Total current liabilities 64,610 51,455
Long-term debt, less current portion 150,367 170,581
Operating lease liabilities, less current portion 42,406 42,208
Financing lease liabilities, less current portion 39 65
Deferred income taxes 66,732 67,012
Contract liabilities, long-term 1,886 2,222
Deferred rent income, less current portion 3,659 3,772
Other long-term liabilities 66 586
Total liabilities 329,765 337,901
Commitments and contingencies (Note 14)
Stockholders' Equity:    
Additional paid-in capital 248,820 248,438
Accumulated \deficit (39,745) (36,509)
Treasury stock, at cost (2,317,650 shares at December 31, 2021 and 2022) (34,006) (34,006)
Total stockholders' equity 175,357 178,211
Total liabilities and stockholders' equity 505,122 516,112
Common Class A [Member]    
Stockholders' Equity:    
Common stock 232 232
Common Class B [Member]    
Stockholders' Equity:    
Common stock $ 56 $ 56