Company: UONE
Filing Date: 2025-11-04
Form Type: 10-Q
Source: 0001041657-25-000054
Chunk: 149

Company: URBAN ONE, INC.
Filing Date: 2025-11-04
Form: 10-Q
Item: Part I, Item 8
Chunk 149
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 provides that Reach Media shall have the right, but not the obligation, to renew the agreement for another year, provided that it notifies the Foundation within ninety (90) days of the conclusion of the prior cruise. The Foundation owed Reach Media approximately $1.5 million and $1.0 million as of September 30, 2025 and December 31, 2024, respectively.Reach Media provides office facilities (including office space, telecommunications facilities, and office equipment) to the Foundation. Such services are provided to the Foundation on a pass-through basis at cost. Additionally, from time to time, the Foundation reimburses Reach Media for expenditures paid on its behalf at Reach Media-related events. Under these arrangements, the Foundation owed immaterial amounts to Reach Media as of September 30, 2025 and December 31, 2024. 

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Alfred C. Liggins, President and Chief Executive Officer of Urban One, Inc., was a compensated member of the Board of Directors of Broadcast Music, Inc. (“BMI”), a performance rights organization to which the Company pays license fees in the ordinary course of business. On February 8, 2024, a sale of BMI to a shareholder group led by New Mountain Capital, LLC, was completed. Based on the Company's equity interest in BMI, the sale resulted in cash proceeds of approximately $0.8 million. Due to the sale of BMI, Mr. Liggins is no longer a member of the BMI Board of Directors. The Company incurred expenses of approximately $0.8 million with BMI during the nine months ended September 30, 2024. 

8. GOODWILL AND OTHER INTANGIBLE ASSETSGoodwillThe following table presents the changes in the Company's goodwill carrying values for its reportable segments during 2025:Radio BroadcastingReach MediaDigital (1)Cable Television (1)Total(in thousands)As of December 31, 2024Gross goodwill$154,967 $30,468 $27,567 $165,044 $378,046 Accumulated impairment losses(124,988)(16,114)(20,345)(20,174)(181,621)Net goodwill at December 31, 2024$29,979 $14,354 $7,222 $144,870 $196,425 Additions— — — — — Impairments(3,858)— (4,891)— (