XML 14 R3.htm IDEA: XBRL DOCUMENT v3.21.1
CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2020
Dec. 31, 2019
CURRENT ASSETS:    
Cash and cash equivalents $ 4,171 $ 2,083
Accounts receivable, net of allowance for doubtful accounts of $157 and $503, respectively 8,508 11,101
Prepaid expenses 1,247 1,111
Other 1,274 1,798
Total current assets 15,200 16,093
PROPERTY AND EQUIPMENT:    
Land and buildings 1,669 1,660
Leasehold improvements 8,479 8,483
Broadcasting equipment 5,927 5,956
Outdoor advertising structures 26,390 27,425
Office equipment, computer equipment, software and automobiles 2,210 2,312
Construction in progress 37  
Total property and equipment 44,712 45,836
Less-accumulated depreciation and amortization 17,062 14,273
Total property and equipment, net 27,650 31,563
INTANGIBLE ASSETS:    
Indefinite-lived intangibles 63,999 63,996
Goodwill 13,102 11,424
Other intangibles 5,060 5,184
Total intangible assets 82,161 80,604
Less-accumulated amortization 2,944 1,655
Total intangible assets, net 79,217 78,949
OPERATING LEASE RIGHT-OF-USE ASSETS 23,953 26,339
OTHER ASSETS:    
Deferred tax assets   13,863
Deposits and other 331 359
Total other assets 331 14,222
Total assets 146,351 167,166
CURRENT LIABILITIES:    
Accounts payable and accrued expenses 2,557 11,184
Current maturities of long-term debt 1,836 3,672
Accrued salaries and commissions 709 728
Deferred revenue 1,535 1,688
Operating lease liabilities 3,573 3,161
Other 549 346
Total current liabilities 10,759 20,779
LONG-TERM DEBT, NET OF CURRENT PORTION 93,918 77,668
OPERATING LEASE LIABILITIES, NET OF CURRENT 20,176 22,983
ASSET RETIREMENT OBLIGATION 6,316 5,623
DEFERRED INCOME TAXES 1,711  
OTHER NONCURRENT LIABILITIES 221 239
Total liabilities 133,101 127,292
COMMITMENTS AND CONTINGENCIES (NOTE 12)  
SERIES A CUMULATIVE CONVERTIBLE PARTICIPATING PREFERRED STOCK, $0.01 PAR VALUE, 10,000,000 SHARES AUTHORIZED; 220,000 SHARES ISSUED AND OUTSTANDING 24,258 22,110
SHAREHOLDERS' EQUITY (DEFICIT):    
Additional paid-in capital 20,772 20,644
Accumulated deficit (31,852) (2,951)
Total equity (deficit) (11,008) 17,764
Total liabilities and equity (deficit) 146,351 167,166
Class A Common Stock    
SHAREHOLDERS' EQUITY (DEFICIT):    
Common Stock 18 17
Class B Common Stock    
SHAREHOLDERS' EQUITY (DEFICIT):    
Common Stock $ 54 $ 54