Company: UONE
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001041657-25-000013
Chunk: 108

Company: URBAN ONE, INC.
Filing Date: 2025-03-27
Form: 10-K
Item: Item 7
Chunk 108
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 adjusted the liability to that amount. The fair value estimate incorporated a number of assumptions and estimates, including but not limited to revenue growth rates, future operating profit margins, discount rate, peer companies, average recurring EBITDA multiples and weighting of the income and market approach. As the Company will measure changes in the fair value of this award at each reporting period as warranted by certain circumstances, different estimates or assumptions may result in a change to the fair value of the award amount previously recorded.

Redeemable non-controlling interests are interests in subsidiaries that are redeemable outside of the Company’s control either for cash or other assets. These interests are classified as mezzanine equity and measured at the greater of estimated redemption value at the end of each reporting period or the historical cost basis of the non-controlling interests adjusted for cumulative earnings allocations. The resulting increases or decreases in the estimated redemption amount are affected by corresponding charges against retained earnings, or in the absence of retained earnings, additional paid-in-capital.

The Company assesses the fair value of the redeemable non-controlling interests in Reach Media as of the end of each reporting period. The fair value of the redeemable non-controlling interests as of December 31, 2024 and 2023, were approximately $8.0 million and $16.5 million, respectively. As of December 31, 2024 and 2023, the fair value is measured using a combination of cash flow and GPC methodology. Significant inputs to the discounted cash flow analysis include revenue growth rate, future operating profit margins, discount rate and exit multiple. Different estimates and assumptions may result in a change to the fair value of the redeemable non-controlling interests amount previously recorded.

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Capital and Commercial Commitments

Indebtedness

As of December 31, 2024, we had approximately $579.1 million of our 2028 Notes outstanding within our corporate structure. See Note 15 - Long-Term Debt of our consolidated financial statements. The Company had no other indebtedness.

Lease Obligations

We have non-cancelable operating leases for office space, studio space, broadcast towers and transmitter facilities that expire over the next forty-eight years.

Operating Contracts and Agreements

We have other operating contracts and agreements including employment contracts, on-air talent contracts, severance obligations, retention bonuses, consulting agreements, equipment rental agreements, programming related agreements, and other general operating agreements that expire over the next five years.

Royalty Agreements

Musical works rights holders, song