Company: UONE
Filing Date: 2025-11-04
Form Type: 10-Q
Source: 0001041657-25-000054
Chunk: 162

Company: URBAN ONE, INC.
Filing Date: 2025-11-04
Form: 10-Q
Item: Part I, Item 8
Chunk 162
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)(4,863)Interest expense9,448 11,649 30,076 37,051 Gain on retirement of debt(2,125)(3,472)(44,009)(18,771)Other income, net(359)(74)(675)(974)Loss from consolidated operations before benefit from income taxes$(3,942)$(33,212)$(99,374)$(86,173)(a) Corporate costs primarily include professional fees related to the material weakness remediation efforts.(b) Non-recurring litigation settlement costs include an approximately $3.1 million charge related to the rate increase for royalties for historical periods (see Note 13 - Commitments and Contingencies).Three Months Ended September 30,20252024(In thousands)Capital expenditures:Radio Broadcasting$1,791$1,119Reach Media8420Digital376391Cable Television298—All other - corporate/eliminations552103Consolidated$3,101$1,633Nine Months Ended September 30,20252024(In thousands)Capital expenditures:Radio Broadcasting$4,516$3,956Reach Media9149Digital1,0401,269Cable Television29869All other - corporate/eliminations920329Consolidated$6,865$5,672

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13. COMMITMENTS AND CONTINGENCIESRadio Broadcasting LicensesEach of the Company’s radio stations operates pursuant to one or more licenses issued by the FCC that have a maximum term of eight years prior to renewal. The Company’s radio broadcasting licenses expire at various times beginning in October 2027 through August 2030. Although the Company may apply to renew its radio broadcasting licenses, third parties may challenge the Company’s renewal applications. The Company is not aware of any facts or circumstances that would prevent the Company from having its current licenses renewed. A station may continue to operate beyond the expiration date of its license if a timely filed license renewal application is filed and is pending. Royalty AgreementsMusical works rights holders, songwriters and music publishers, have been traditionally represented by performing rights organizations, such as the American Society of Composers Authors and Publishers (“ASCAP”), Broadcast Music, Inc. (“BMI”) and SESAC, Inc. (“SESAC”). The market for rights relating to musical works is changing rapidly. Songwriters and music publishers have withdrawn from the traditional performing rights organizations (“PRO”), particularly ASCAP and BMI, and new entities, such as Global Music Rights Inc. (“GMR”), have been