Company: UONE
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001041657-25-000042
Chunk: 35

Company: URBAN ONE, INC.
Filing Date: 2025-08-13
Form: 10-Q
Item: Part I, Item 1
Chunk 35
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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)— (8,749)Intersegment transfers (out) in (1)— — (655)655— As of June 30, 2025Gross goodwill$154,967 $30,468 $26,912 $165,699 $378,046 Accumulated impairment losses(128,846)(16,114)(25,236)(20,174)(190,370)Net goodwill at June 30, 2025$26,121 $14,354 $1,676 $145,525 $187,676 (1) Includes the allocation of goodwill relating to the reclassification of the portion of the Company's CTV offering previously within the Digital reportable segment to our Cable Television reportable segment. See Note 12 - Segment Information for information on this segment reclassification. As of May 31, 2025, an overall decline in revenue and operating profit margin created a triggering event indicating the fair value of the Company's Radio Broadcasting, Reach Media and Digital reportable units were more likely than not to be less than its carrying value. Therefore, the Company performed interim quantitative assessments at ten of the reporting units containing goodwill. During the three months ended June 30, 2025, the Company recorded impairment losses of approximately $4.9 million and $3.9 million to reduce the carrying value of our Digital and Radio Broadcasting reporting units goodwill balances, respectively.Radio Broadcasting LicensesAs of May 31, 2025, the Company's projected gross market revenues and operating profit margin declined in the Radio Broadcasting segment creating a triggering event indicating that the fair value of certain of the Company’s radio broadcasting licenses were more likely than not to be less than its carrying value. To determine the fair value of the broadcasting licenses, the Company utilized the income approach which values a license by calculating the value of a hypothetical startup company that initially has no assets except the asset to be valued (the broadcasting license). The Company performed a discounted cash flow analysis for broadcasting licenses across relevant radio markets.