PROPERTY AND EQUIPMENT

12 Months Ended

Dec. 31, 2023

PROPERTY AND EQUIPMENT

PROPERTY AND EQUIPMENT

5. PROPERTY AND EQUIPMENT:

Property and equipment are carried at cost less accumulated depreciation. Depreciation is calculated using the straight-line method over the related estimated useful lives. Property and equipment consists of the following:

	As of December 31,				Estimated
	2023		2022		Useful Lives
	(In thousands)
Land and improvements	$	3,375	$	4,628	—
Buildings		3,243		3,299	31 years
Transmitters and towers		17,212		45,733	7‑15 years
Equipment		10,204		67,025	3‑7 years
Furniture and fixtures		897		9,357	6 years
Software and web development		5,629		32,565	3 years
Leasehold improvements		9,841		25,231	Lesser of useful life or lease term
Construction-in-progress		14		153	—
		50,415		187,991
Less: accumulated depreciation		(21,754)		(159,733)
Property and equipment, net	$	28,661	$	28,258

Depreciation expense for the years ended December 31, 2023, and 2022 was approximately $6.0 million and $6.4 million, respectively. Repairs and maintenance costs are expensed as incurred.