Company: UONE
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001041657-25-000042
Chunk: 107

Company: URBAN ONE, INC.
Filing Date: 2025-08-13
Form: 10-Q
Item: Part I, Item 8
Chunk 107
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 goodwill and intangible assets, on the unaudited condensed consolidated statement of operations. Below are the key assumptions used in the income approach model for estimating the fair value of the broadcasting licenses for the twelve radio markets in the most recent interim impairment assessment performed as of June 30, 2025.Radio Broadcasting LicensesJune 30,2025Discount rate9.5%Revenue growth rate range(3.2)% - 0.3%Mature market share range0.8% - 33.0%Operating profit margin range0.8% - 30.0%Due to industry and macro-economic conditions along with ongoing declines in national and local radio listenership, and forecasted cash flows for Radio Broadcasting, the Company reassessed the useful life for the broadcasting licenses. As a result of the reassessment, the Company concluded the useful life should change from indefinite-lived to finite-lived intangible assets effective June 1, 2025. The Company has adopted an accelerated amortization method and will amortize the assets with a carrying value of $129.9 million over a range of 9 to 18-year period This was considered a change in estimate, was accounted for prospectively, and resulted in amortization expense of $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.The following table presents the changes in the Company’s radio broadcasting licenses carrying value during the six months ended June 30, 2025.(In thousands)Balance as of January 1, 2025$257,759 Impairment charges(127,772)Amortization expense(1,282)Balance as of June 30, 2025$128,705 Future estimated 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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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