Subsequent Events

6 Months Ended

Jun. 30, 2016

Subsequent Events [Abstract]

Subsequent Events

11. Subsequent Events

On June 1, 2016, the Company’s Board of Directors declared a regular cash dividend of $0.25 per share on its Classes A and B Common Stock. This dividend, totaling $1.5 million, which is recorded within Other accrued expenses as of June 30, 2016, was paid on July 8, 2016 to shareholders of record on June 15, 2016.

In July 22, 2016, the Company sold a tower in our Norfolk, Virginia market for approximately $1,612,000 to SBA Towers IX, LLC (“SBA”). Subsequently, we entered into a 10 year lease for tower space from SBA.