Company: UONE
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001041657-25-000042
Chunk: 37

Company: URBAN ONE, INC.
Filing Date: 2025-08-13
Form: 10-Q
Item: Part I, Item 1
Chunk 37
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 amortization expense related to the broadcasting licenses for the years 2025 through 2030, and thereafter, is as follows:(In thousands)Remainder of 2025$7,691 202614,785 202713,762 202812,740 202911,717 203010,698 Thereafter57,312 

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Table of Contents

TV One Trade NameDue to industry and macro-economic conditions along with ongoing subscriber churn, and forecasted cash flows for TV One, the Company reassessed the useful life for the trade name TV One (the “TV One Trade Name”). As a result of the reassessment, the Company concluded the useful life should change from indefinite-lived to a finite-lived intangible asset effective January 1, 2025. The Company has adopted an accelerated amortization method and started to amortize this asset with a carrying value of $26.6 million as of January 1, 2025 over a 20-year period. This was considered a change in estimate, was accounted for prospectively, and resulted in amortization expense of $0.6 million and $1.3 million included in depreciation and amortization, on the unaudited condensed consolidated statement of operations for the three and six months ended June 30, 2025, respectively.Future estimated amortization expense related to the TV One Trade Name for the years 2025 through 2030 and thereafter is as follows:(In thousands)Remainder of 2025$1,266 20262,407 20272,280 20282,153 20292,027 20301,900 Thereafter13,300 

9. LONG-TERM DEBTLong-term debt consists of the following:June 30,2025December 31,2024(In thousands)2028 Notes$492,336 $584,575 Total debt492,336 584,575 Less: issuance discount and issuance costs(3,940)(5,506)Long-term debt, net$488,396 $579,069 2028 NotesOn January 25, 2021, the Company closed on an offering (the “2028 Notes”) of $825.0 million in aggregate principal amount of the 2028 Notes in a private offering exempt from the registration requirements of the Securities Act of 1933, as amended (the “Securities Act”). The 2028 Notes mature on February 1, 202