Company: UONE
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001041657-25-000042
Chunk: 33

Company: URBAN ONE, INC.
Filing Date: 2025-08-13
Form: 10-Q
Item: Part I, Item 1
Chunk 33
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 determined to be impaired, as well as content assets that are periodically written down to net realizable value. See Note 8 – Goodwill and Other Intangible Assets of the Company's unaudited condensed consolidated financial statements for further discussion.Financial Instruments

As of June 30, 2025 and December 31, 2024, the Company’s financial instruments consisted of cash and cash equivalents, restricted cash, trade accounts receivable, its asset-backed credit facility, and long-term debt. The carrying amounts approximated fair value for each of these financial instruments as of June 30, 2025 and December 31, 2024, except for the Company’s long-term debt, which is disclosed in Note 9 - Long-Term Debt. 

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Table of Contents

6. CONTENT ASSETSThe gross cost and accumulated amortization of content assets is as follows:June 30,2025December 31,2024(In thousands)Licensed Content, netAcquired$22,748$25,389Produced Content, netCompleted89,71586,367In production8,47811,798In development and pre-production—175Content assets, net120,941123,729Less: current portion(37,308)(36,861)Noncurrent portion$83,633$86,868Amortization of content assets is recorded in the unaudited condensed consolidated statements of operations as programming and technical expenses. Content amortization for the three and six months ended June 30, 2025 and 2024 is as follows:Three Months Ended June 30,Six Months Ended June 30,2025202420252024(In thousands)(In thousands)Content amortization - acquired$2,912 $3,342 $6,891 $6,698 Content amortization - produced6,689 7,758 12,592 15,845 Total content amortization$9,601 $11,100 $19,483 $22,543 

7. RELATED PARTY TRANSACTIONSReach Media operates the Tom Joyner Foundation’s Fantastic Voyage® (the “Fantastic Voyage®”), an annual cruise fundraising event, on behalf of the Tom Joyner Foundation, Inc. (the “Foundation”), a 501(c)(3) entity. The agreement under which the Fantastic Voyage® operates provides that Reach Media provide all necessary operations of the cruise, and that Reach Media will be reimbursed its expenditures and receive a fee based on performance