Company: UONE
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001041657-25-000042
Chunk: 108

Company: URBAN ONE, INC.
Filing Date: 2025-08-13
Form: 10-Q
Item: Part I, Item 8
Chunk 108
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 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, 2028 and interest on the 2028 Notes accrues and is payable semiannually in arrears on February 1 and August 1 of each year at a rate of 7.375% per annum. The 2028 Notes and the guarantees are secured, subject to permitted liens and except for certain excluded assets: (i) on a first priority basis by substantially all of the Company’s and the guarantors’ current and future property and assets (other than accounts receivable, cash, deposit accounts, other bank accounts, securities accounts, inventory and related assets that secure the Company’s asset-backed revolving credit facility on a first priority basis (the “ABL Priority Collateral”), including