XML 32 R23.htm IDEA: XBRL DOCUMENT v3.23.3
The Company and Significant Accounting Policies - Additional Information (Detail)
1 Months Ended 3 Months Ended 9 Months Ended 12 Months Ended 19 Months Ended
Mar. 17, 2023
USD ($)
Mar. 16, 2023
Nov. 30, 2017
USD ($)
Jul. 31, 2023
USD ($)
Days
$ / shares
Sep. 30, 2023
USD ($)
Advertiser
AdvertisingCustomer
Country
Unit
Market
$ / shares
shares
Sep. 30, 2022
USD ($)
shares
Jun. 30, 2022
USD ($)
Mar. 31, 2022
USD ($)
Sep. 30, 2023
USD ($)
Segment
Market
Station
Advertiser
AdvertisingCustomer
Country
Unit
$ / shares
shares
Sep. 30, 2022
USD ($)
shares
Dec. 31, 2022
USD ($)
Advertiser
Sep. 30, 2023
USD ($)
Advertiser
AdvertisingCustomer
Country
Unit
Market
$ / shares
shares
May 19, 2023
USD ($)
Apr. 03, 2023
Mar. 01, 2022
USD ($)
Accounting Policies [Line Items]                              
Number of reportable segments | Segment                 3            
Number of business units | Unit         4       4     4      
Sales Operations in Number of Countries | Country         40       40     40      
Restricted cash         $ 765,000 $ 751,000     $ 765,000 $ 751,000 $ 753,000 $ 765,000      
Retransmission consent revenue         $ 8,900,000 $ 8,900,000     $ 27,900,000 $ 27,200,000          
Number of Class A common stock shares converted | shares                 1            
Shares of dilutive securities not included in computation of diluted earnings per share | shares         551,378 4,052     932,230 34,388          
Impairment charges related to intangible subject to amortization         $ 1,000,000       $ 1,000,000            
Amount approved under share purchase                             $ 20,000,000
Aggregate purchase price of repurchased shares             $ 4,138,000 $ 7,142,000              
Gain (loss) on debt extinguishment                 (1,556,000)            
Unamortized debt issuance costs         $ 1,180,000       $ 1,180,000   $ 1,221,000 $ 1,180,000      
Number of advertisers represent more than five percent of trade receivables | Advertiser         0       0     0      
Number of advertising customer represented more than five percent of revenue | AdvertisingCustomer         0       0     0      
Estimated losses for bad debts         $ 300,000 $ 1,200,000     $ 2,000,000 $ 2,200,000          
Bad debts actually charged off         1,000,000 1,300,000     1,300,000 1,800,000          
Interest income related to available-for-sale securities         1,558,000 788,000     3,455,000 1,916,000          
Assets held for sale         1,223,000       1,223,000     $ 1,223,000      
Change in fair value of contingent consideration         (5,997,000) 734,000     (8,939,000) 6,810,000          
Accounts Payable and Accrued Expenses                              
Accounting Policies [Line Items]                              
Contingent Liability, Current         8,200,000       8,200,000     8,200,000      
Other Long-term Liabilities                              
Accounting Policies [Line Items]                              
Contingent Liability, Noncurrent         13,400,000       13,400,000     $ 13,400,000      
TelevisaUnivision                              
Accounting Policies [Line Items]                              
Payment of sales representation fees to television stations         1,500,000 2,000,000     $ 4,500,000 5,400,000          
Number of markets involved in sales and marketing | Market                 3            
Retransmission consent revenue         $ 6,200,000 $ 6,200,000     $ 19,300,000 $ 18,700,000          
Common stock percentage held by Univision         11.00%       11.00%     11.00%      
UniMas                              
Accounting Policies [Line Items]                              
Affiliate advertising minutes per hour for which entity has right to sell                 4 minutes 30 seconds            
Related Parties                              
Accounting Policies [Line Items]                              
Amount due from television stations for carriage         $ 10,300,000       $ 10,300,000     $ 10,300,000      
Customer Concentration Risk | Revenue | Commercial Partner                              
Accounting Policies [Line Items]                              
Concentration risk percentage         54.00% 49.00%     53.00% 51.00%          
Largest Advertisers | Customer Concentration Risk | Trade Receivables                              
Accounting Policies [Line Items]                              
Number of largest advertisers | Advertiser         5       5   5 5      
Concentration risk percentage                 5.00%   2.00%        
Largest Advertisers | Customer Concentration Risk | Revenue                              
Accounting Policies [Line Items]                              
Concentration risk percentage         14.00% 11.00%     13.00% 13.00%          
Cisneros Interactive                              
Accounting Policies [Line Items]                              
Remaining ownership interest acquired         49.00%       49.00%     49.00%      
Fair value of contingent consideration recognized         $ 8,000,000       $ 8,000,000   $ 41,400,000 $ 8,000,000      
Contingent Liability, Current         7,100,000       7,100,000   30,000,000 7,100,000      
Contingent Liability, Noncurrent         900,000       900,000   11,400,000 $ 900,000      
Change in fair value of contingent consideration         $ 0 $ 5,900,000     $ 5,800,000 $ 6,900,000          
MediaDonuts                              
Accounting Policies [Line Items]                              
Ownership interest acquired         100.00%       100.00%     100.00%      
Fair value of contingent consideration recognized         $ 11,600,000       $ 11,600,000   22,200,000 $ 11,600,000      
Contingent Liability, Current                     6,500,000        
Contingent Liability, Noncurrent                     15,700,000        
Change in fair value of contingent consideration         $ 5,900,000 2,000,000     $ 3,700,000 1,300,000          
365 Digital                              
Accounting Policies [Line Items]                              
Ownership interest acquired         100.00%       100.00%     100.00%      
Fair value of contingent consideration recognized         $ 0       $ 0   200,000 $ 0      
Contingent Liability, Noncurrent                     $ 200,000        
Change in fair value of contingent consideration         $ 200,000 3,200,000     $ 500,000 1,400,000          
Adsmurai Acquisition                              
Accounting Policies [Line Items]                              
Ownership interest acquired                           51.00%  
Jack of Digital Acquisition                              
Accounting Policies [Line Items]                              
Ownership interest acquired         85.00%       85.00%     85.00%      
Fair value of contingent consideration recognized         $ 300,000       $ 300,000     $ 300,000      
Contingent Liability, Noncurrent         $ 300,000       $ 300,000     $ 300,000      
BCNMonetize                              
Accounting Policies [Line Items]                              
Ownership interest acquired         100.00%       100.00%     100.00% 100.00%    
Fair value of contingent consideration recognized         $ 1,700,000       $ 1,700,000     $ 1,700,000 $ 1,600,000    
Contingent Liability, Current         1,100,000       1,100,000     1,100,000      
Contingent Liability, Noncurrent         600,000       600,000     600,000      
Change in fair value of contingent consideration         100,000       100,000            
Phoenix Market                              
Accounting Policies [Line Items]                              
Agreement amount to sell building                 2,500,000            
Assets held for sale         900,000       900,000     900,000      
Boston Market                              
Accounting Policies [Line Items]                              
Agreement amount to sell building                 1,300,000            
Assets held for sale         300,000       300,000     300,000      
Available-for-Sale Securities                              
Accounting Policies [Line Items]                              
Interest income related to available-for-sale securities         200,000 600,000     $ 1,000,000 1,700,000          
2017 Credit Facility                              
Accounting Policies [Line Items]                              
Agreement date     Nov. 30, 2017                        
Gain (loss) on debt extinguishment $ (1,600,000)                            
Write-off of unamortized debt issuance costs $ 1,100,000                            
2017 Credit Facility | Eurodollar Rate                              
Accounting Policies [Line Items]                              
Variable interest rate basis spread on debt     2.75%                        
2017 Credit Facility | Base Rate Margin                              
Accounting Policies [Line Items]                              
Variable interest rate basis spread on debt     1.75%                        
2017 Credit Facility | Term Loan B Facility                              
Accounting Policies [Line Items]                              
Senior Secured debt     $ 300,000,000                        
Interest rate   7.38%                          
Maturity date of revolving credit facility     Nov. 30, 2024                        
2023 Credit Facility                              
Accounting Policies [Line Items]                              
Agreement date Mar. 17, 2023                            
Additional borrowing capacity $ 100,000,000                            
First lien net leverage ratio 2.25%                            
Maturity date of revolving credit facility Mar. 17, 2028                            
Debt issuance costs $ 1,800,000                            
Certain customary events of default, number of business days to default in the payment of interest on borrowings                 3 days            
Certain customary events of default, number of business days to default in the payment of any other amounts                 5 days            
Certain customary events of default, number of days default continue for compliance with other agreement                 30 days            
Certain customary events of default, number of days default continue for financial statement delivery obligations                 10 days            
Certain customary events of default, indebtedness aggregate amount                 $ 15,000,000            
Certain customary events of default, failure in payment of final judgments aggregate amount                 $ 15,000,000            
Certain customary events of default, failure in payment of final judgments aggregate amount period                 30 days            
2023 Credit Facility | Term Loan A Facility                              
Accounting Policies [Line Items]                              
Senior Secured debt 200,000,000                            
Interest rate                 8.16%            
Unamortized debt issuance costs         1,200,000       $ 1,200,000     1,200,000      
Estimated fair value of term loan         $ 196,300,000       $ 196,300,000     $ 196,300,000      
2023 Credit Facility | Revolving Credit Facility                              
Accounting Policies [Line Items]                              
Senior Secured debt 75,000,000                            
Amount drawn $ 11,500,000                            
Interest rate                 8.16%            
Class A common stock                              
Accounting Policies [Line Items]                              
Number of shares repurchased | shares         0       0     1,800,000      
Aggregate purchase price of repurchased shares                 $ 11,300,000            
Average price of repurchased shares | $ / shares                 $ 6.43            
Restricted Stock Units                              
Accounting Policies [Line Items]                              
Share-based compensation expenses         $ 6,700,000 2,800,000     $ 16,700,000 8,000,000          
Total unrecognized compensation expense related to grants of restricted stock units         $ 22,900,000       $ 22,900,000     $ 22,900,000      
Weighted average period for unrecognized compensation expense related to grants of restricted stock units                 1 year 9 months 18 days            
Performance Stock Units                              
Accounting Policies [Line Items]                              
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Authorized (in shares) | shares         1,000,000       1,000,000     1,000,000      
Allocated percentage                 20.00%            
Share price | $ / shares         $ 4.39       $ 4.39     $ 4.39      
Number of consecutive trading days | Days       30                      
Performance period commencing date       Jul. 01, 2023                      
Performance period ending date       Jul. 01, 2028                      
Granted, weighted average grant date fair value (in dollars per share) | $ / shares                 $ 3.29            
Share-based compensation expenses         $ 300,000 $ 0     $ 300,000 $ 0          
Percentage of performance measurement                 100.00%            
Total unrecognized compensation expense related to grants of restricted stock units         $ 2,900,000       $ 2,900,000     $ 2,900,000      
Weighted average period for unrecognized compensation expense related to grants of restricted stock units                 2 years 9 months 18 days            
Performance Stock Units | Tranche One                              
Accounting Policies [Line Items]                              
Share price | $ / shares       $ 5.75                      
Fair value of each of the Tranches       $ 800,000                      
Granted, weighted average grant date fair value (in dollars per share) | $ / shares       $ 3.98                      
Performance Stock Units | Tranche Two                              
Accounting Policies [Line Items]                              
Share price | $ / shares       $ 7.25                      
Fair value of each of the Tranches       $ 700,000                      
Granted, weighted average grant date fair value (in dollars per share) | $ / shares       $ 3.64                      
Performance Stock Units | Tranche Three                              
Accounting Policies [Line Items]                              
Share price | $ / shares       $ 9                      
Fair value of each of the Tranches       $ 700,000                      
Granted, weighted average grant date fair value (in dollars per share) | $ / shares       $ 3.31                      
Performance Stock Units | Tranche Four                              
Accounting Policies [Line Items]                              
Share price | $ / shares       $ 11.2                      
Fair value of each of the Tranches       $ 600,000                      
Granted, weighted average grant date fair value (in dollars per share) | $ / shares       $ 2.93                      
Performance Stock Units | Tranche Five                              
Accounting Policies [Line Items]                              
Share price | $ / shares       $ 13.75                      
Fair value of each of the Tranches       $ 500,000                      
Granted, weighted average grant date fair value (in dollars per share) | $ / shares       $ 2.58                      
Minimum | TelevisaUnivision                              
Accounting Policies [Line Items]                              
Affiliate advertising minutes per hour for which entity has right to sell                 4 minutes            
Minimum | 2023 Credit Facility | Base Rate Margin                              
Accounting Policies [Line Items]                              
Variable interest rate basis spread on debt 1.50%                            
Minimum | 2023 Credit Facility | SOFR                              
Accounting Policies [Line Items]                              
Variable interest rate basis spread on debt 2.50%                            
Minimum | 2023 Credit Facility | Revolving Credit Facility                              
Accounting Policies [Line Items]                              
Interest rate 0.30%                            
Minimum | Restricted Stock Units                              
Accounting Policies [Line Items]                              
Vesting period                 1 year            
Minimum | Performance Stock Units                              
Accounting Policies [Line Items]                              
Vesting percentage       0.00%                      
Maximum | 2023 Credit Facility | Base Rate Margin                              
Accounting Policies [Line Items]                              
Variable interest rate basis spread on debt 2.00%                            
Maximum | 2023 Credit Facility | SOFR                              
Accounting Policies [Line Items]                              
Variable interest rate basis spread on debt 3.00%                            
Maximum | 2023 Credit Facility | Revolving Credit Facility                              
Accounting Policies [Line Items]                              
Interest rate 0.40%                            
Maximum | Restricted Stock Units                              
Accounting Policies [Line Items]                              
Vesting period                 4 years            
Maximum | Performance Stock Units                              
Accounting Policies [Line Items]                              
Vesting percentage       100.00%                      
Television                              
Accounting Policies [Line Items]                              
Number of stations owned | Station                 49            
Radio                              
Accounting Policies [Line Items]                              
Number of stations owned | Station                 45            
Number of markets operated | Market         14       14     14      
Advertisements and Syndicate Radio Programming | Minimum                              
Accounting Policies [Line Items]                              
Number of markets owned | Market                 100