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ASSETS HELD FOR SALE
 12 Months Ended
Dec. 31, 2023
Discontinued Operations and Disposal Groups [Abstract]  
ASSETS HELD FOR SALE ASSETS HELD FOR SALE
Assets Held for Sale
Long-lived assets to be sold are classified as held for sale in the period in which they meet all the criteria for the disposal of long-lived assets. The Company measures assets held for sale at the lower of their carrying amount or fair value less cost to sell. Additionally, the Company determined that these assets are comprised of operations and cash flows that can be clearly distinguished, operationally and for financial reporting purposes, from the rest of the Company.
During the second and fourth quarters of 2023, the Company entered into agreements to dispose of land, building and equipment located in Boston, Massachusetts. The Company conducted an analysis and determined the assets met the criteria to be classified as held for sale. These assets had a carrying value of approximately $1.5 million as of December 31, 2023. The Company completed the sale of these assets during the first quarter of 2024. Refer to Note 3, Acquisitions and Dispositions — 2024 Dispositions, for additional information on the net gains recorded in connection with these transactions.
During the fourth quarter of 2022, the Company agreed to sell its license and assets of a station in Palm Desert, California and tower assets across six markets. The Company conducted an analysis and determined the assets met the criteria to be classified as held for sale, and in aggregate, these assets had a carrying value of approximately $4.6 million as of December 31, 2022. The Company completed the sales of these assets during 2023. Refer to Note 3, Acquisitions and Dispositions — 2023 Dispositions, for additional information on the net gains recorded in connection with these transactions.
The table below sets forth the major categories of the assets held for sale as of the dates indicated:
As of December 31,
Assets Held for Sale20232022
(amounts in thousands)
Net property and equipment$1,544 $4,618 
Radio broadcasting licenses— 856 
Net assets held for sale$1,544 $5,474