Company: UONE
Filing Date: 2025-11-04
Form Type: 10-Q
Source: 0001041657-25-000054
Chunk: 124

Company: URBAN ONE, INC.
Filing Date: 2025-11-04
Form: 10-Q
Item: Part I, Item 1
Chunk 124
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 market value for such shares (the “Put Right”). This annual right is exercisable for a 30-day period beginning January 1 of each year. The purchase price for such shares may be paid in cash and/or registered Class D common stock of the Company, at the discretion of the Company. The non-controlling interest shareholders of Reach Media exercised 50.0% of their Put Right on January 29, 2024 for $7.6 million. On February 14, 2025, certain non-controlling interest shareholders of Reach Media exercised their annual Put Right for approximately $3.2 million, increasing the Company’s interest in Reach Media to approximately 94.6% and decreasing the interest of the non-controlling interest shareholders from approximately 10.0% to approximately 5.4%.

Management, at this time, cannot reasonably determine the period when and if the non-controlling interest shareholders will exercise the remaining portion of the Put Right.

Contractual Obligations Schedule

The following table represents our scheduled contractual obligations as of September 30, 2025: 

Payments Due by PeriodContractual Obligations Remainder of 2025 2026 2027 2028 20292030 and Beyond Total2028 Notes(a)$—$35,978$35,978$505,825$—$—$577,781Other operating contracts/agreements(b)25,70135,34912,3876,8857255481,101Operating lease obligations2,6479,6038,6928,4128,40226,90264,658Total$28,348$80,930$57,057$521,122$9,127$26,956$723,540

(a ) Includes interest obligations based on interest rates on senior secured notes outstanding as of September 30, 2025.

(b) Includes employment contracts (including the Employment Agreement Award), severance obligations, on-air talent contracts, consulting agreements, equipment rental agreements, programming related agreements, launch liability payments, asset-backed credit facility (if applicable) and other general operating agreements. Also includes contracts that our Cable Television segment has entered into to acquire entertainment programming rights and programs from distributors and producers. These contracts relate to their content assets as well as prepaid programming related agreements.

Of the total amount of other operating contracts and agreements included in the table above, approximately $49.4 million has not been recorded on the unaudited condensed consolidated balance sheet as of September