Company: UONE
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001041657-25-000013
Chunk: 110

Company: URBAN ONE, INC.
Filing Date: 2025-03-27
Form: 10-K
Item: Item 7
Chunk 110
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 non-controlling interest shareholders of Reach Media have had an annual right to require Reach Media to purchase all or a portion of their shares at the then current fair 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 Urban One, at the discretion of Urban One. 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 $3.2 million, increasing the Company’s interest in Reach Media to 95.0% and decreasing the interest of the non-controlling interest shareholders from 10.0% to 5.0%. 

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

Contractual Obligations Schedule

The following table represents our scheduled contractual obligations as of December 31, 2024:

Payments Due by PeriodContractual Obligations202520262027202820292030 andBeyondTotal(in thousands)7.375% Subordinated Notes (1)$43,112 $43,112 $43,112 $606,131 $— $— $735,467 Other operating contracts/agreements (2)71,566 20,572 7,242 3,797 849 54 104,080 Operating lease obligations9,464 7,022 6,143 5,174 4,697 19,361 51,861 Total$124,142 $70,706 $56,497 $615,102 $5,546 $19,415 $891,408 

(1) Includes interest obligations based on effective interest rates on senior secured notes outstanding as of December 31, 2024. Interest is payable semi-annually in arrears on February 1 and August 1 of each year. 

(2) 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