Company: UONE
Filing Date: 2025-11-04
Form Type: 10-Q
Source: 0001041657-25-000054
Chunk: 29

Company: URBAN ONE, INC.
Filing Date: 2025-11-04
Form: 10-Q
Item: Part I, Item 2
Chunk 29
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 the useful life for the broadcasting licenses. As a result of the reassessment, the Company concluded that 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 $130.0 million over a range of 9 to 18-year period This was considered a change in estimate, accounted for prospectively, and resulted in amortization expense of $3.8 million and $5.1 million included in depreciation and amortization, on the unaudited condensed consolidated statement of operations for the three and nine months ended September 30, 2025, respectively.

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See Note 8 – Goodwill and Other Intangible Assets of our unaudited condensed consolidated financial statements for further discussion.

TV One Trade Name

Due 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 that the useful life should change from indefinite-lived to a finite-lived intangible asset effective January 1, 2025. The Company has adopted an accelerated amortization method and will amortize this asset with a carrying value of $26.6 million 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 $1.9 million included in depreciation and amortization, on the unaudited condensed consolidated statement of operations for the three and nine months ended September 30, 2025, respectively.

See Note 8 – Goodwill and Other Intangible Assets of our unaudited condensed consolidated financial statements for further discussion.

Goodwill

As of May 31, 2025, an overall decline in revenue and operating profit margin created a triggering event indicating the fair value of the Company's Radio Broadcasting, Reach Media and Digital reportable units were more likely than not to be less than its carrying value. Therefore, the Company performed interim quantitative assessments at ten of the reporting units containing goodwill. During the three months ended June 30, 2025, the Company recorded impairment losses of approximately $4.9 million and $3.9 million to reduce the carrying value of our Digital and Radio Broadcasting reporting unit goodwill balances, respectively. 

Radio Market Reporting Units