Company: UONE
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001041657-25-000034
Chunk: 33

Company: URBAN ONE, INC.
Filing Date: 2025-05-14
Form: 10-Q
Item: Part I, Item 1
Chunk 33
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 OTHER INTANGIBLE ASSETSGoodwillThe following table presents the changes in the Company's goodwill carrying values for its four reportable segments during 2025:Radio BroadcastingReach MediaiOne (1)TV One (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 Intersegment transfers (out) in (1)— — (655)655— As of March 31, 2025Gross goodwill$154,967 $30,468 $26,912 $165,699 $378,046 Accumulated impairment losses(124,988)(16,114)(20,345)(20,174)(181,621)Net goodwill at March 31, 2025$29,979 $14,354 $6,567 $145,525 $196,425 (1) Includes the allocation of goodwill relating to the reclassification of the portion of the Company's CTV offering previously within the iONE reportable segment to our TV One reportable segment. See Note 13 - Segment Information for information on this segment reclassification. As of March 31, 2025 the Company performed a qualitative assessment for all of the radio broadcasting reporting units that contain goodwill. Based on the qualitative impairment assessment performed, no goodwill impairment losses were recognized for the three months ended March 31, 2025. Radio Broadcasting LicensesAs of March 31, 2025, 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. The key assumptions used in the discounted cash flow analysis for broadcasting licenses include market revenue and projected