SUBSEQUENT EVENTS

12 Months Ended

Dec. 31, 2018

16. SUBSEQUENT EVENTS:

Since January 1, 2019 and through March 1, 2019, the Company executed a Stock Vest Tax Repurchase of 598,596 shares of Class D common stock in the amount of approximately $1.1 million at an average price of $1.85 per share. In addition, since January 1, 2019 and through March 1, 2019, the Company repurchased 277,485 shares of Class D common stock in the amount of approximately $584,000 at an average price of $2.10 per share and 9,282 shares of Class A common stock in the amount of approximately $21,000 at an average price of $2.25 per share.

Since January 1, 2019, the Company borrowed approximately $

6.0

million on its ABL Facility.

On January 17, 2019, the Company announced that it had given the required notice under the indenture governing its 2020 Notes to redeem for cash all outstanding aggregate principal amount of its Notes to the extent outstanding on February 15, 2019 (the “Redemption Date”). The redemption price for the Notes will be 100.0% of the principal amount of the Notes, plus accrued and unpaid interest to the Redemption Date.

In addition, on February 15, 2019, upon redemption of the remaining 2020 Notes, the Comcast Note was paid in full and retired.

On January 19, 2019, the Company launched CLEO TV, a lifestyle and entertainment network targeting Millennial and Gen X women of color. CLEO TV offers quality content that defies negative and cultural stereotypes of today’s modern women. The results of CLEO TV’s operations will be reflected in the Company’s cable television segment.

On March 11, 2019, the Company filed an amended Registration Statement on Form S-3/A (the “Registration Statement”) with the United States Securities and Exchange Commission (the “SEC”) with regard to the registration of up to $50,000,000 worth of shares of our Class D common stock. On March 12, 2019, the Company requested accelerated effectiveness of the Registration Statement as of March 14, 2019. On March 14, 2019, the SEC issued a notice declaring the Registration Statement effective as of 4:00 p.m. March 14, 2019.

As reported on the current report on Form 8-K filed March 11, 2019, on March 5, 2019, the Compensation Committee gave approval for payout of cash bonuses to the named executive officers for the year ended December 31, 2018.