Document_and_Entity_Informatio
Document and Entity Information | 9 Months Ended | ||
Sep. 30, 2013 | Oct. 25, 2013 | Oct. 25, 2013 | |
Class A Common Stock [Member] | Class B Common Stock [Member] | ||
Document Information [Line Items] | ' | ' | ' |
Document Type | '10-Q | ' | ' |
Amendment Flag | 'false | ' | ' |
Document Period End Date | 30-Sep-13 | ' | ' |
Document Fiscal Year Focus | '2013 | ' | ' |
Document Fiscal Period Focus | 'Q3 | ' | ' |
Entity Registrant Name | 'BEASLEY BROADCAST GROUP INC | ' | ' |
Entity Central Index Key | '0001099160 | ' | ' |
Current Fiscal Year End Date | '--12-31 | ' | ' |
Entity Filer Category | 'Smaller Reporting Company | ' | ' |
Entity Common Stock, Shares Outstanding | ' | 6,287,682 | 16,662,743 |
Condensed_Consolidated_Balance
Condensed Consolidated Balance Sheets (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
Current assets: | ' | ' |
Cash and cash equivalents | $12,489,731 | $11,660,648 |
Accounts receivable, less allowance for doubtful accounts of $637,860 in 2012 and $467,994 in 2013 | 17,106,958 | 18,175,425 |
Prepaid expenses | 2,286,393 | 963,677 |
Deferred tax assets | 210,204 | 418,900 |
Other current assets | 2,491,708 | 2,172,195 |
Total current assets | 34,584,994 | 33,390,845 |
Notes receivable from related parties | 2,403,330 | 2,656,067 |
Property and equipment, net | 19,964,277 | 19,066,881 |
FCC broadcasting licenses | 186,088,710 | 183,251,728 |
Goodwill | 13,629,364 | 13,629,364 |
Other assets | 6,198,205 | 7,377,779 |
Total assets | 262,868,880 | 259,372,664 |
Current liabilities: | ' | ' |
Current portion of long-term debt | 5,562,500 | 3,500,000 |
Accounts payable | 1,122,029 | 1,156,406 |
Other current liabilities | 8,239,841 | 7,979,975 |
Total current liabilities | 14,924,370 | 12,636,381 |
Long-term debt, net of current portion | 104,687,500 | 113,250,000 |
Deferred tax liabilities | 51,774,302 | 49,449,507 |
Other long-term liabilities | 899,683 | 987,519 |
Total liabilities | 172,285,855 | 176,323,407 |
Commitments and contingencies | ' | ' |
Stockholders' equity: | ' | ' |
Preferred stock, $0.001 par value; 10,000,000 shares authorized; none issued | ' | ' |
Additional paid-in capital | 116,648,420 | 116,896,411 |
Treasury stock, Class A common stock; 2,752,245 in 2012; 2,788,608 shares in 2013 | -14,729,984 | -14,539,533 |
Accumulated deficit | -11,382,019 | -19,347,366 |
Accumulated other comprehensive income | 20,870 | 14,186 |
Stockholders' equity | 90,583,025 | 83,049,257 |
Total liabilities and stockholders' equity | 262,868,880 | 259,372,664 |
Class A Common Stock [Member] | ' | ' |
Stockholders' equity: | ' | ' |
Common stock | 9,076 | 8,897 |
Class B Common Stock [Member] | ' | ' |
Stockholders' equity: | ' | ' |
Common stock | $16,662 | $16,662 |
Condensed_Consolidated_Balance1
Condensed Consolidated Balance Sheets (Parenthetical) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
Accounts receivable, less allowance for doubtful accounts | $467,994 | $637,860 |
Preferred stock, par value | $0.00 | $0.00 |
Preferred stock, shares authorized | 10,000,000 | 10,000,000 |
Preferred stock, shares issued | 0 | 0 |
Treasury stock, Class A common stock shares | 2,788,608 | 2,752,245 |
Class A Common Stock [Member] | ' | ' |
Common stock, par value | $0.00 | $0.00 |
Common stock, shares authorized | 150,000,000 | 150,000,000 |
Common stock, shares issued | 9,076,290 | 8,897,440 |
Common stock, shares outstanding | 6,287,682 | 6,145,195 |
Class B Common Stock [Member] | ' | ' |
Common stock, par value | $0.00 | $0.00 |
Common stock, shares authorized | 75,000,000 | 75,000,000 |
Common stock, shares issued | 16,662,743 | 16,662,743 |
Common stock, shares outstanding | 16,662,743 | 16,662,743 |
Condensed_Consolidated_Stateme
Condensed Consolidated Statements of Comprehensive Income (USD $) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | |
Income Statement [Abstract] | ' | ' | ' | ' |
Net revenue | $25,950,102 | $24,714,493 | $77,618,204 | $72,804,066 |
Operating expenses: | ' | ' | ' | ' |
Station operating expenses (including stock-based compensation of $4,741 and $12,253 in three and nine months ended September 30, 2012 and $7,038 and $25,829 in three and nine months ended September 30, 2013 and excluding depreciation and amortization shown separately below) | 16,506,148 | 15,740,976 | 49,982,476 | 45,881,166 |
Corporate general and administrative expenses (including stock-based compensation of $103,322 and $333,766 in three and nine months ended September 30, 2012 and $178,531 and $480,253 in three and nine months ended September 30, 2013) | 2,157,138 | 1,940,499 | 6,380,716 | 5,921,193 |
Other operating expenses | 185,916 | ' | 185,916 | ' |
Depreciation and amortization | 548,184 | 532,975 | 1,640,408 | 1,563,476 |
Total operating expenses | 19,397,386 | 18,214,450 | 58,189,516 | 53,365,835 |
Operating income | 6,552,716 | 6,500,043 | 19,428,688 | 19,438,231 |
Non-operating income (expense): | ' | ' | ' | ' |
Interest expense | -1,337,605 | -1,792,469 | -5,711,729 | -4,404,625 |
Loss on extinguishment of long-term debt | ' | -2,608,158 | -1,260,784 | -2,608,158 |
Other income (expense), net | 23,801 | -176,460 | 106,393 | -191,528 |
Income before income taxes | 5,238,912 | 1,922,956 | 12,562,568 | 12,233,920 |
Income tax expense | 2,052,021 | 766,033 | 4,597,221 | 4,807,931 |
Net income | 3,186,891 | 1,156,923 | 7,965,347 | 7,425,989 |
Other comprehensive income: | ' | ' | ' | ' |
Unrealized gain (loss) on securities (net of income tax expense (benefit) of $3,254 and $4,657 in three and nine months ended September 30 2012, and $9,250 and $4,061 in three and nine months ended September 30, 2013) | 14,868 | 5,171 | 6,684 | -7,401 |
Comprehensive income | $3,201,759 | $1,162,094 | $7,972,031 | $7,418,588 |
Net income per share: | ' | ' | ' | ' |
Basic and diluted | $0.14 | $0.05 | $0.35 | $0.33 |
Weighted average shares outstanding: | ' | ' | ' | ' |
Basic | 22,743,515 | 22,675,427 | 22,732,535 | 22,663,680 |
Diluted | 22,828,664 | 22,743,027 | 22,808,999 | 22,731,263 |
Condensed_Consolidated_Stateme1
Condensed Consolidated Statements of Comprehensive Income (Parenthetical) (USD $) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | |
Stock-based compensation | ' | ' | $506,082 | $346,019 |
Unrealized Gain (Loss) on Securities, Tax expense (benefit) | 9,250 | 3,254 | 4,061 | 4,657 |
Station Operating Expenses [Member] | ' | ' | ' | ' |
Stock-based compensation | 7,038 | 4,741 | 25,829 | 12,253 |
Corporate General and Administrative Expenses [Member] | ' | ' | ' | ' |
Stock-based compensation | $178,531 | $103,322 | $480,253 | $333,766 |
Condensed_Consolidated_Stateme2
Condensed Consolidated Statements of Cash Flows (USD $) | 9 Months Ended | |
Sep. 30, 2013 | Sep. 30, 2012 | |
Cash flows from operating activities: | ' | ' |
Net income | $7,965,347 | $7,425,989 |
Adjustments to reconcile net income to net cash provided by operating activities: | ' | ' |
Stock-based compensation | 506,082 | 346,019 |
Provision for bad debts | 584,631 | 880,318 |
BMI music license fee settlement | ' | -770,654 |
Depreciation and amortization | 1,640,408 | 1,563,476 |
Amortization of loan fees | 359,185 | 265,645 |
Loss on extinguishment of long-term debt | 1,260,784 | 2,608,158 |
Deferred income taxes | 2,540,175 | 3,157,842 |
Change in operating assets and liabilities: | ' | ' |
Accounts receivable | 483,836 | -119,507 |
Prepaid expenses | -1,322,716 | -285,385 |
Other assets | 184,065 | 219,073 |
Accounts payable | -34,377 | 128,217 |
Other liabilities | 186,471 | 790,074 |
Other operating activities | -306,456 | -610,568 |
Net cash provided by operating activities | 14,047,435 | 15,598,697 |
Cash flows from investing activities: | ' | ' |
Capital expenditures | -2,084,426 | -1,295,447 |
Payments for acquisitions of radio stations | -4,000,000 | -2,000,000 |
Payments for translator licenses | -30,000 | ' |
Payments for investments | -104,167 | -166,667 |
Repayment of notes receivable from related parties | 252,737 | 211,093 |
Net cash used in investing activities | -5,965,856 | -3,251,021 |
Cash flows from financing activities: | ' | ' |
Principal payments on indebtedness | -6,500,000 | -7,858,619 |
Repayment of note payable to related party | ' | -2,500,000 |
Payments of loan fees | -617,051 | -4,055,447 |
Tax benefit (shortfall) from vesting of restricted stock | 55,006 | -80,104 |
Payments for treasury stock | -190,451 | -111,854 |
Net cash used in financing activities | -7,252,496 | -14,606,024 |
Net increase (decrease) in cash and cash equivalents | 829,083 | -2,258,348 |
Cash and cash equivalents at beginning of period | 11,660,648 | 13,610,069 |
Cash and cash equivalents at end of period | 12,489,731 | 11,351,721 |
Cash paid for interest | 5,336,058 | 4,158,983 |
Cash paid for income taxes | 2,969,645 | 2,128,500 |
Supplement disclosure of non-cash investing and financing activities: | ' | ' |
Property and equipment acquired through placement of advertising airtime | 70,210 | 61,676 |
Note payable to related party to partially finance an acquisition of a radio station | ' | $2,500,000 |
Interim_Financial_Statements
Interim Financial Statements | 9 Months Ended | |
Sep. 30, 2013 | ||
Accounting Policies [Abstract] | ' | |
Interim Financial Statements | ' | |
-1 | Interim Financial Statements | |
The accompanying unaudited condensed consolidated financial statements should be read in conjunction with the consolidated financial statements of Beasley Broadcast Group, Inc. and its subsidiaries (the “Company”) included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2012. These financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. In the opinion of management, the financial statements reflect all adjustments necessary for a fair statement of the financial position and results of operations for the interim periods presented and all such adjustments are of a normal and recurring nature. The Company’s results are subject to seasonal fluctuations therefore the results shown on an interim basis are not necessarily indicative of results for the full year. |
Recent_Accounting_Pronouncemen
Recent Accounting Pronouncement | 9 Months Ended | |
Sep. 30, 2013 | ||
Accounting Changes And Error Corrections [Abstract] | ' | |
Recent Accounting Pronouncement | ' | |
-2 | Recent Accounting Pronouncement | |
In February 2013, the FASB issued guidance to improve the reporting of reclassifications out of accumulated other comprehensive income. The guidance requires an entity to report the effect of significant reclassifications out of accumulated other comprehensive income on the respective line items in net income if the amount being reclassified is required under U.S. generally accepted accounting principles to be reclassified in its entirety to net income. For other amounts that are that are not required under U.S. generally accepted accounting principles to be reclassified in their entirety to net income in the same reporting period, an entity is required to cross-reference other disclosures required under U.S. generally accepted accounting principles that provide additional detail about those amounts. The new guidance is effective prospectively for reporting periods beginning after December 15, 2012, with early adoption permitted. The Company adopted the new guidance in the first quarter of 2013 with no material impact on its financial statements. |
FCC_Broadcasting_Licenses
FCC Broadcasting Licenses | 9 Months Ended | ||||
Sep. 30, 2013 | |||||
Text Block [Abstract] | ' | ||||
FCC Broadcasting Licenses | ' | ||||
-3 | FCC Broadcasting Licenses | ||||
The change in the carrying amount of FCC broadcasting licenses for the nine months ended September 30, 2013 is as follows: | |||||
Balance as of December 31, 2012 | $ | 183,251,728 | |||
Acquisition of translator licenses | 30,000 | ||||
Acquisition of KVGS-FM | 2,806,982 | ||||
Balance as of September 30, 2013 | $ | 186,088,710 | |||
On January 11, 2013, the Company acquired two translator licenses from Reach Communications, Inc. for $30,000. The translator licenses allow the Company to rebroadcast the programming of one of its radio stations in Fort Myers-Naples, FL on the FM band over an expanded area of coverage. Translator licenses are generally granted for renewable terms of eight years and are tested for impairment on an annual basis, or more frequently if events or changes in circumstances indicate that they might be impaired. |
Derivative_Financial_Instrumen
Derivative Financial Instruments | 9 Months Ended | |
Sep. 30, 2013 | ||
Derivative Instruments And Hedging Activities Disclosure [Abstract] | ' | |
Derivative Financial Instruments | ' | |
-4 | Derivative Financial Instruments | |
The Company is a party to two interest rate cap agreements which limit its cost of variable rate debt on a portion of its term loans. The interest rate cap agreements have an aggregate notional amount of $57.5 million and cap LIBOR at 1% on an equivalent amount of the Company’s term loans. The interest rate cap agreements expire in September 2014. The interest rate caps were not designated as hedging instruments. As of September 30, 2013, the fair value of the interest rate caps, reported in other assets, was approximately $5,000. The fair values of the interest rate caps were determined using observable inputs (Level 2). The inputs were quotes from the counterparties to the interest rate cap agreements. The change in fair value, reported in interest expense, was approximately $11,000 and $14,000 for the three and nine months ended September 30, 2013, respectively. |
LongTerm_Debt
Long-Term Debt | 9 Months Ended | ||||||||||||
Sep. 30, 2013 | |||||||||||||
Debt Disclosure [Abstract] | ' | ||||||||||||
Long-Term Debt | ' | ||||||||||||
-5 | Long-Term Debt | ||||||||||||
Long-term debt is comprised of the following: | |||||||||||||
December 31, | September 30, | ||||||||||||
2012 | 2013 | ||||||||||||
First lien facility: | |||||||||||||
Term loan | $ | 86,750,000 | $ | 103,250,000 | |||||||||
Revolving credit facility | 5,000,000 | 7,000,000 | |||||||||||
Second lien facility: | |||||||||||||
Term loan | 25,000,000 | — | |||||||||||
116,750,000 | 110,250,000 | ||||||||||||
Less current installments | (3,500,000 | ) | (5,562,500 | ) | |||||||||
$ | 113,250,000 | $ | 104,687,500 | ||||||||||
As of December 31, 2012, the first lien facility consisted of a term loan with a remaining balance of $86.7 million and a revolving credit facility with a maximum commitment of $20.0 million. The first lien facility carried interest, based on the adjusted LIBOR rate, at 5.18% as of December 31, 2012. As of December 31, 2012, the second lien facility consisted of a term loan of $25.0 million. The second lien facility carried interest, based on the adjusted LIBOR rate, at 11.25% as of December 31, 2012. | |||||||||||||
On April 3, 2013, the Company amended its first lien credit agreement. The amendment waived certain restrictions to permit the prepayment of the $25.0 million second lien facility in full with $20.0 million of additional term loan borrowings and $2.0 million of additional revolving credit facility borrowings from the first lien facility and $3.0 million of cash on hand. The amendment also modified the interest rate margins on the term loan. In connection with the prepayment of the second lien facility, the Company recorded a prepayment fee of $1.0 million in interest expense during the second quarter of 2013. In connection with the amended first lien credit agreement and the prepayment of the second lien facility, the Company also recorded a loss on extinguishment of long-term debt of $1.3 million during the second quarter of 2013. | |||||||||||||
As of September 30, 2013, the first lien facility consisted of a term loan with a remaining balance of $103.2 million and a revolving credit facility with a maximum commitment of $20.0 million. As of September 30, 2013, the Company had $13.0 million in remaining commitments available under its revolving credit facility. At the Company’s election, the first lien facility may bear interest at either (i) the adjusted LIBOR rate, as defined in the first lien credit agreement, plus a margin ranging from 3.5% to 5.0% that is determined by the Company’s consolidated total debt ratio, as defined in the first lien credit agreement or (ii) the base rate, as defined in the first lien credit agreement, plus a margin ranging from 2.5% to 4.0% that is determined by the Company’s consolidated total debt ratio. Interest on adjusted LIBOR rate loans is payable at the end of each applicable interest period and, for those interest periods with a duration in excess of three months, the three month anniversary of the beginning of such interest period. Interest on base rate loans is payable quarterly in arrears. The first lien facility carried interest, based on the adjusted LIBOR rate, at 4.18% as of September 30, 2013 and matures on August 9, 2017. | |||||||||||||
The first lien credit agreement requires mandatory prepayments equal to 50% of consolidated excess cash flow, as defined in the first lien credit agreement, when the Company’s consolidated total debt is equal to or greater than three times its consolidated operating cash flow, as defined in the first lien credit agreement. The mandatory prepayments decrease to 25% of excess cash flow when the Company’s consolidated total debt is less than three times its consolidated operating cash flow. Mandatory prepayments of consolidated excess cash flow are due 120 days after year end. The credit agreement also requires mandatory prepayments for defined amounts from net proceeds of asset sales, net insurance proceeds, and net proceeds of debt issuances. | |||||||||||||
The first lien facility requires the Company to comply with certain financial covenants which are defined in the first lien credit agreement. These financial covenants include: | |||||||||||||
• | Consolidated Total Debt Ratio. The Company’s consolidated total debt on the last day of each fiscal quarter through December 31, 2013 must not exceed 5.0 times its consolidated operating cash flow for the four quarters then ended. The maximum ratio is 4.5 times for 2014, 4.0 times for 2015, 3.5 times for 2016, and 3.0 times for 2017. | ||||||||||||
• | Interest Coverage Ratio. The Company’s consolidated operating cash flow for the four quarters ending on the last day of each fiscal quarter through maturity must not be less than 2.0 times its consolidated cash interest expense for the four quarters then ended. | ||||||||||||
The first lien facility is secured by a first-priority lien on substantially all of the Company’s assets and the assets of substantially all of its subsidiaries and is guaranteed jointly and severally by the Company and substantially all of its subsidiaries. The guarantees were issued to the Company’s lenders for repayment of the outstanding balance of the first lien facility. If the Company defaults under the terms of the first lien credit agreement, the Company and its applicable subsidiaries may be required to perform under their guarantees. As of September 30, 2013, the maximum amount of undiscounted payments the Company and its applicable subsidiaries would have had to make in the event of default was $110.2 million. The guarantees for the first lien facility expire on August 9, 2017. | |||||||||||||
The aggregate scheduled principal repayments of the credit facility for the remainder of 2013 and the next four years are as follows: | |||||||||||||
Term | Revolving | Total | |||||||||||
loan | credit | ||||||||||||
facility | |||||||||||||
2013 | $ | 750,000 | $ | — | $ | 750,000 | |||||||
2014 | 6,875,000 | — | 6,875,000 | ||||||||||
2015 | 8,250,000 | — | 8,250,000 | ||||||||||
2016 | 9,625,000 | — | 9,625,000 | ||||||||||
2017 | 77,750,000 | 7,000,000 | 84,750,000 | ||||||||||
Total | $ | 103,250,000 | $ | 7,000,000 | $ | 110,250,000 | |||||||
Failure to comply with financial covenants, scheduled interest payments, scheduled principal repayments, or any other terms of its credit agreement could result in the acceleration of the maturity of its outstanding debt. The Company believes that it will have sufficient liquidity and capital resources to permit it to meet its financial obligations for at least the next twelve months. As of September 30, 2013, the Company was in compliance with all applicable financial covenants under its credit agreement. |
StockBased_Compensation
Stock-Based Compensation | 9 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ' | ||||||||
Stock-Based Compensation | ' | ||||||||
-6 | Stock-Based Compensation | ||||||||
The Beasley Broadcast Group, Inc. 2007 Equity Incentive Award Plan (the “2007 Plan”) permits the Company to issue up to 4.0 million shares of Class A common stock. The 2007 Plan allows for eligible employees, directors and certain consultants of the Company to receive shares of restricted stock, stock options or other stock-based awards. The restricted stock awards that have been granted under the 2007 Plan generally vest over one to five years of service. | |||||||||
A summary of restricted stock activity under the 2007 Plan is as follows: | |||||||||
Shares | Weighted- | ||||||||
Average | |||||||||
Grant-Date | |||||||||
Fair Value | |||||||||
Unvested as of July 1, 2013 | 173,451 | $ | 6.33 | ||||||
Granted | 35,000 | 8.56 | |||||||
Vested | (3,334 | ) | 4.51 | ||||||
Unvested as of September 30, 2013 | 205,117 | $ | 6.74 | ||||||
As of September 30, 2013, there was $0.9 million of total unrecognized compensation cost related to restricted stock granted under the 2007 Plan. That cost is expected to be recognized over a weighted-average period of 1.9 years. | |||||||||
The 2000 Equity Plan of Beasley Broadcast Group. Inc. (the “2000 Plan”) was terminated upon adoption of the 2007 Plan, except with respect to outstanding awards. The remaining stock options expire ten years from the date of grant. No new awards will be granted under the 2000 Plan. | |||||||||
A summary of stock option activity under the 2000 Plan is as follows: | |||||||||
Options | Weighted- | ||||||||
Average | |||||||||
Exercise | |||||||||
Price | |||||||||
Outstanding as of July 1, 2013 | 99,750 | $ | 15.75 | ||||||
Forfeited | — | — | |||||||
Outstanding and exercisable as of September 30, 2013 | 99,750 | $ | 15.75 | ||||||
As of September 30, 2013, the weighted-average remaining contractual term was 0.7 years and the aggregate intrinsic value was zero for stock options granted under the 2000 Plan. |
Income_Taxes
Income Taxes | 9 Months Ended | |
Sep. 30, 2013 | ||
Income Tax Disclosure [Abstract] | ' | |
Income Taxes | ' | |
-7 | Income Taxes | |
The Company’s effective tax rate was approximately 40% and 39% for the three and nine months ended September 30, 2012, respectively and approximately 39% and 37% for the three and nine months ended September 30, 2013, respectively which differ from the federal statutory rate of 34% due to the effect of state income taxes and certain expenses that are not deductible for tax purposes. The effective tax rate for the nine months ended September 30, 2013, also reflects a $0.3 million decrease from a change to the Company’s state tax effective rate. |
Related_Party_Transactions
Related Party Transactions | 9 Months Ended | ||||
Sep. 30, 2013 | |||||
Related Party Transactions [Abstract] | ' | ||||
Related Party Transactions | ' | ||||
-8 | Related Party Transactions | ||||
On September 1, 2013, the Company completed the acquisition of KVGS-FM in Las Vegas, NV from GGB Las Vegas, LLC, which is owned by George G. Beasley, for $4.0 million in cash. The Company acquired KVGS-FM to complement its current market cluster in Las Vegas, NV. The acquisition was accounted for as a combination between businesses under common control therefore the Company recorded the assets acquired at their carrying amounts as of the date of acquisition. The difference between the purchase price and the carrying amounts of the assets acquired was recorded as an adjustment to additional paid-in capital. The Company did not retrospectively adjust the financial statements to furnish comparative information for the periods under which the Company and GGB Las Vegas, LLC were under common control as the adjustments were considered immaterial to all periods presented. The operations of KVGS-FM have been included in the Company’s results of operations from its acquisition date. | |||||
A summary of the carrying amounts of assets acquired and the adjustment to additional paid-in capital is as follows: | |||||
Property and equipment | $ | 384,118 | |||
FCC broadcasting license | 2,806,982 | ||||
Carrying amount of assets acquired | 3,191,100 | ||||
Purchase price | 4,000,000 | ||||
Adjustment to additional paid-in capital | $ | (808,900 | ) | ||
As of September 1, 2013, pursuant to the purchase option, an amount of $185,916 is due to GGB Las Vegas, LLC for unreimbursed management fee losses incurred by KVGS-FM during the term of the management agreement and an amount of $99,483 is due to GGB Las Vegas, LLC to purchase property and equipment acquired by GGB Las Vegas, LLC for KVGS-FM during the term of the management agreement. | |||||
On May 31, 2013, the interest rate on the notes receivable from Beasley Family Towers, LLC was discretionarily changed from 6.0% to 2.57%. The aggregate monthly payments of approximately $38,000 were unchanged, but due to the interest rate change the maturity date of the notes is now June 30, 2019. Beasley Family Towers, LLC is controlled by George G. Beasley, Bruce G. Beasley, Caroline Beasley, Brian E. Beasley and other family members of George G. Beasley. | |||||
On April 12, 2013, the Company contributed an additional $104,167 to Digital PowerRadio, LLC which maintained its ownership interest at approximately 20% of the outstanding units. Digital PowerRadio, LLC is managed by Fowler Radio Group, LLC which is partially-owned by Mark S. Fowler, an independent director of the Company. |
Financial_Instruments
Financial Instruments | 9 Months Ended | |
Sep. 30, 2013 | ||
Investments All Other Investments [Abstract] | ' | |
Financial Instruments | ' | |
-9 | Financial Instruments | |
The carrying amount of notes receivable from related parties with a fixed rate of interest of 2.57% was $2.4 million as of September 30, 2013, compared with a fair value of $2.2 million based on current market interest rates. The carrying amount of notes receivable from related parties was $2.7 million as of December 31, 2012, compared with a fair value of $2.9 million based on market rates at that time. | ||
The carrying amount of long term debt, including the current installments, was $110.2 million as of September 30, 2013 and approximated fair value based on current market interest rates. The carrying amount of long-term debt was $116.7 million as of December 31, 2012 and approximated fair value based on market rates at that time. |
Recent_Accounting_Pronouncemen1
Recent Accounting Pronouncement (Policies) | 9 Months Ended |
Sep. 30, 2013 | |
Accounting Changes And Error Corrections [Abstract] | ' |
Recent Accounting Pronouncement | ' |
In February 2013, the FASB issued guidance to improve the reporting of reclassifications out of accumulated other comprehensive income. The guidance requires an entity to report the effect of significant reclassifications out of accumulated other comprehensive income on the respective line items in net income if the amount being reclassified is required under U.S. generally accepted accounting principles to be reclassified in its entirety to net income. For other amounts that are that are not required under U.S. generally accepted accounting principles to be reclassified in their entirety to net income in the same reporting period, an entity is required to cross-reference other disclosures required under U.S. generally accepted accounting principles that provide additional detail about those amounts. The new guidance is effective prospectively for reporting periods beginning after December 15, 2012, with early adoption permitted. The Company adopted the new guidance in the first quarter of 2013 with no material impact on its financial statements. |
FCC_Broadcasting_Licenses_Tabl
FCC Broadcasting Licenses (Tables) | 9 Months Ended | ||||
Sep. 30, 2013 | |||||
Text Block [Abstract] | ' | ||||
Carrying Amount of Broadcasting Licenses | ' | ||||
The change in the carrying amount of FCC broadcasting licenses for the nine months ended September 30, 2013 is as follows: | |||||
Balance as of December 31, 2012 | $ | 183,251,728 | |||
Acquisition of translator licenses | 30,000 | ||||
Acquisition of KVGS-FM | 2,806,982 | ||||
Balance as of September 30, 2013 | $ | 186,088,710 | |||
LongTerm_Debt_Tables
Long-Term Debt (Tables) | 9 Months Ended | ||||||||||||
Sep. 30, 2013 | |||||||||||||
Debt Disclosure [Abstract] | ' | ||||||||||||
Summary of Long-Term Debt | ' | ||||||||||||
Long-term debt is comprised of the following: | |||||||||||||
December 31, | September 30, | ||||||||||||
2012 | 2013 | ||||||||||||
First lien facility: | |||||||||||||
Term loan | $ | 86,750,000 | $ | 103,250,000 | |||||||||
Revolving credit facility | 5,000,000 | 7,000,000 | |||||||||||
Second lien facility: | |||||||||||||
Term loan | 25,000,000 | — | |||||||||||
116,750,000 | 110,250,000 | ||||||||||||
Less current installments | (3,500,000 | ) | (5,562,500 | ) | |||||||||
$ | 113,250,000 | $ | 104,687,500 | ||||||||||
Scheduled Repayments of Credit Facility | ' | ||||||||||||
The aggregate scheduled principal repayments of the credit facility for the remainder of 2013 and the next four years are as follows: | |||||||||||||
Term | Revolving | Total | |||||||||||
loan | credit | ||||||||||||
facility | |||||||||||||
2013 | $ | 750,000 | $ | — | $ | 750,000 | |||||||
2014 | 6,875,000 | — | 6,875,000 | ||||||||||
2015 | 8,250,000 | — | 8,250,000 | ||||||||||
2016 | 9,625,000 | — | 9,625,000 | ||||||||||
2017 | 77,750,000 | 7,000,000 | 84,750,000 | ||||||||||
Total | $ | 103,250,000 | $ | 7,000,000 | $ | 110,250,000 | |||||||
StockBased_Compensation_Tables
Stock-Based Compensation (Tables) | 9 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ' | ||||||||
Restricted Stock Activity | ' | ||||||||
A summary of restricted stock activity under the 2007 Plan is as follows: | |||||||||
Shares | Weighted- | ||||||||
Average | |||||||||
Grant-Date | |||||||||
Fair Value | |||||||||
Unvested as of July 1, 2013 | 173,451 | $ | 6.33 | ||||||
Granted | 35,000 | 8.56 | |||||||
Vested | (3,334 | ) | 4.51 | ||||||
Unvested as of September 30, 2013 | 205,117 | $ | 6.74 | ||||||
Stock Option Activity | ' | ||||||||
A summary of stock option activity under the 2000 Plan is as follows: | |||||||||
Options | Weighted- | ||||||||
Average | |||||||||
Exercise | |||||||||
Price | |||||||||
Outstanding as of July 1, 2013 | 99,750 | $ | 15.75 | ||||||
Forfeited | — | — | |||||||
Outstanding and exercisable as of September 30, 2013 | 99,750 | $ | 15.75 | ||||||
Related_Party_Transactions_Tab
Related Party Transactions (Tables) | 9 Months Ended | ||||
Sep. 30, 2013 | |||||
Related Party Transactions [Abstract] | ' | ||||
Summary of the Carrying Amounts of Assets Acquired and the Adjustment to Additional Paid-in Capital | ' | ||||
A summary of the carrying amounts of assets acquired and the adjustment to additional paid-in capital is as follows: | |||||
Property and equipment | $ | 384,118 | |||
FCC broadcasting license | 2,806,982 | ||||
Carrying amount of assets acquired | 3,191,100 | ||||
Purchase price | 4,000,000 | ||||
Adjustment to additional paid-in capital | $ | (808,900 | ) | ||
FCC_Broadcasting_Licenses_Carr
FCC Broadcasting Licenses - Carrying Amount of Broadcasting Licenses (Detail) (USD $) | 9 Months Ended | |
Sep. 30, 2013 | Sep. 30, 2012 | |
FCC Broadcasting Licenses [Line Items] | ' | ' |
Balance as of December 31, 2012 | $183,251,728 | ' |
Acquisition of translator licenses | 30,000 | ' |
Acquisition of KVGS-FM | 30,000 | ' |
Balance as of September 30, 2013 | 186,088,710 | ' |
KVGS-FM [Member] | ' | ' |
FCC Broadcasting Licenses [Line Items] | ' | ' |
Acquisition of KVGS-FM | $2,806,982 | ' |
FCC_Broadcasting_Licenses_Addi
FCC Broadcasting Licenses - Additional Information (Detail) (USD $) | 1 Months Ended | 9 Months Ended |
Jan. 11, 2013 | Sep. 30, 2013 | |
FCC Broadcasting Licenses [Line Items] | ' | ' |
Acquisition of translator licenses | ' | $30,000 |
Translator licenses renewable term | '8 years | ' |
Reach Communications, Inc. [Member] | ' | ' |
FCC Broadcasting Licenses [Line Items] | ' | ' |
Acquisition of translator licenses | 30,000 | ' |
Number of translator licenses acquired | 2 | ' |
Derivative_Financial_Instrumen1
Derivative Financial Instruments - Additional Information (Detail) (USD $) | 3 Months Ended | 9 Months Ended |
Sep. 30, 2013 | Sep. 30, 2013 | |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' |
Number of interest rate cap agreements | 2 | 2 |
Interest Expense [Member] | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' |
Change in fair value, reported in interest expense | $11,000 | $14,000 |
Interest Rate Cap [Member] | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' |
Aggregate notional amount of interest rate cap agreements | 57,500,000 | 57,500,000 |
Interest rate cap LIBOR | ' | 'and cap LIBOR at 1% |
Derivative cap interest rate | 1.00% | 1.00% |
Expiration date of both interest rate cap agreements | ' | 30-Sep-14 |
Fair value of the interest rate caps reported in other assets | $5,000 | $5,000 |
LongTerm_Debt_Summary_of_LongT
Long-Term Debt - Summary of Long-Term Debt (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
Line of Credit Facility [Line Items] | ' | ' |
Long-term debt | $110,250,000 | $116,750,000 |
Less current installments | -5,562,500 | -3,500,000 |
Long-term debt non current portion | 104,687,500 | 113,250,000 |
First Lien Facility [Member] | ' | ' |
Line of Credit Facility [Line Items] | ' | ' |
Long-term debt | 110,250,000 | ' |
Term Loan [Member] | First Lien Facility [Member] | ' | ' |
Line of Credit Facility [Line Items] | ' | ' |
Long-term debt | 103,250,000 | 86,750,000 |
Term Loan [Member] | Second Lien Facility [Member] | ' | ' |
Line of Credit Facility [Line Items] | ' | ' |
Long-term debt | ' | 25,000,000 |
Revolving Credit Loan [Member] | First Lien Facility [Member] | ' | ' |
Line of Credit Facility [Line Items] | ' | ' |
Revolving credit facility | $7,000,000 | $5,000,000 |
LongTerm_Debt_Additional_Infor
Long-Term Debt - Additional Information (Detail) (USD $) | 3 Months Ended | 9 Months Ended | 1 Months Ended | 9 Months Ended | 1 Months Ended | 9 Months Ended | 1 Months Ended | 9 Months Ended | 9 Months Ended | 1 Months Ended | 3 Months Ended | |||||||||||||||||||
Jun. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Apr. 03, 2013 | Sep. 30, 2013 | Apr. 03, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Apr. 03, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Apr. 03, 2013 | Jun. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | |
Term Loan [Member] | First Mortgage [Member] | First Lien Facility [Member] | First Lien Facility [Member] | First Lien Facility [Member] | First Lien Facility [Member] | First Lien Facility [Member] | First Lien Facility [Member] | First Lien Facility [Member] | First Lien Facility [Member] | First Lien Facility [Member] | First Lien Facility [Member] | First Lien Facility [Member] | First Lien Facility [Member] | First Lien Facility [Member] | First Lien Facility [Member] | First Lien Facility [Member] | First Lien Facility [Member] | First Lien Facility [Member] | First Lien Facility [Member] | Second Lien Facility [Member] | Second Lien Facility [Member] | Second Lien Facility [Member] | Second Lien Facility [Member] | Second Lien Facility [Member] | ||||||
Must Not Be Less Than [Member] | Term Loan [Member] | Term Loan [Member] | Revolving Credit Loan [Member] | Revolving Credit Loan [Member] | Revolving Credit Loan [Member] | Revolving Credit Loan and Term Loan [Member] | Maximum [Member] | Maximum [Member] | Minimum [Member] | Minimum [Member] | First Mortgage [Member] | First Mortgage [Member] | First Mortgage [Member] | First Mortgage [Member] | First Mortgage [Member] | Term Loan [Member] | Term Loan [Member] | |||||||||||||
Revolving Credit Loan [Member] | Revolving Credit Loan [Member] | Revolving Credit Loan [Member] | Revolving Credit Loan [Member] | Maximum [Member] | Maximum [Member] | Maximum [Member] | Maximum [Member] | Must Not Exceed [Member] | ||||||||||||||||||||||
LIBOR [Member] | Base rate [Member] | LIBOR [Member] | Base rate [Member] | Forecast [Member] | Forecast [Member] | Forecast [Member] | Forecast [Member] | Forecast [Member] | ||||||||||||||||||||||
January 1, 2014 through December 31, 2014 [Member] | January 1, 2015 through December 31, 2015 [Member] | January 1, 2016 through December 31, 2016 [Member] | January 1, 2017 through maturity [Member] | December 31, 2013 [Member] | ||||||||||||||||||||||||||
Line of Credit Facility [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Long-term debt | ' | ' | $110,250,000 | ' | $116,750,000 | ' | ' | ' | $110,250,000 | ' | $103,250,000 | $86,750,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $25,000,000 |
Revolving credit facility maximum commitment | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 20,000,000 | 20,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revolving credit loan and term loan carried interest | ' | ' | ' | ' | ' | ' | ' | ' | 4.18% | 5.18% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 11.25% | ' | ' |
Prepayment of second lien facility | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 25,000,000 | ' | ' | ' | ' |
Additional borrowings | ' | ' | ' | ' | ' | 20,000,000 | ' | ' | ' | ' | ' | ' | 2,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Prepayment of first lien credit through cash on hand | ' | ' | ' | ' | ' | ' | ' | 3,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Prepayment Fees | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,000,000 | ' | ' | ' |
Loss on extinguishment of long-term debt | 1,300,000 | -2,608,158 | -1,260,784 | -2,608,158 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Remaining commitments under the revolving credit loan facility | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $13,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Credit facility interest rate margins | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5.00% | 4.00% | 3.50% | 2.50% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revolving credit facility, Interest Rate Description | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 'At the Companybs election, the first lien facility may bear interest at either (i) the adjusted LIBOR rate, as defined in the first lien credit agreement, plus a margin ranging from 3.5% to 5.0% that is determined by the Companybs consolidated total debt ratio, as defined in the first lien credit agreement or (ii) the base rate, as defined in the first lien credit agreement, plus a margin ranging from 2.5% to 4.0% that is determined by the Companybs consolidated total debt ratio. Interest on adjusted LIBOR rate loans is payable at the end of each applicable interest period and, for those interest periods with a duration in excess of three months, the three month anniversary of the beginning of such interest period. | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revolving credit facility and term loan maturity date | ' | ' | ' | ' | ' | ' | ' | ' | 9-Aug-17 | ' | ' | ' | ' | ' | ' | 9-Aug-17 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Mandatory prepayments of excess cash flow | ' | ' | ' | ' | ' | ' | ' | ' | 50.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Mandatory prepayments decrease of excess cash flow | ' | ' | ' | ' | ' | ' | ' | ' | 25.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Mandatory prepayments of consolidated excess cash flow due period | ' | ' | '120 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
First lien agreement condition description | ' | ' | 'The first lien credit agreement requires mandatory prepayments equal to 50% of consolidated excess cash flow, as defined in the first lien credit agreement, when the Companybs consolidated total debt is equal to or greater than three times its consolidated operating cash flow, as defined in the first lien credit agreement. The mandatory prepayments decrease to 25% of excess cash flow when the Companybs consolidated total debt is less than three times its consolidated operating cash flow. Mandatory prepayments of consolidated excess cash flow are due 120 days after year end. The credit agreement also requires mandatory prepayments for defined amounts from net proceeds of asset sales, net insurance proceeds, and net proceeds of debt issuances | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Long-term Debt Covenants Aggregate Leverage Ratio | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4.5 | 4 | 3.5 | 3 | 5 | ' | ' | ' | ' | ' |
Interest Coverage Ratio | ' | ' | ' | ' | ' | ' | 2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
LongTerm_Debt_Scheduled_Repaym
Long-Term Debt - Scheduled Repayments of Credit Facility (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
Subsequent Event [Line Items] | ' | ' |
2013 | $750,000 | ' |
2014 | 6,875,000 | ' |
2015 | 8,250,000 | ' |
2016 | 9,625,000 | ' |
2017 | 84,750,000 | ' |
Total | 110,250,000 | 116,750,000 |
Term Loan [Member] | ' | ' |
Subsequent Event [Line Items] | ' | ' |
2013 | 750,000 | ' |
2014 | 6,875,000 | ' |
2015 | 8,250,000 | ' |
2016 | 9,625,000 | ' |
2017 | 77,750,000 | ' |
Total | 103,250,000 | ' |
Revolving Credit Loan [Member] | ' | ' |
Subsequent Event [Line Items] | ' | ' |
2013 | ' | ' |
2014 | ' | ' |
2015 | ' | ' |
2016 | ' | ' |
2017 | 7,000,000 | ' |
Total | $7,000,000 | ' |
StockBased_Compensation_Additi
Stock-Based Compensation - Additional Information (Detail) (USD $) | 9 Months Ended |
In Millions, unless otherwise specified | Sep. 30, 2013 |
2007 Plan [Member] | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Total unrecognized compensation cost related to restricted stock granted | $0.90 |
Cost is expected to be recognized over a weighted-average period | '1 year 10 months 24 days |
2007 Plan [Member] | Minimum [Member] | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Restricted stock awards, vest, period | '1 year |
2007 Plan [Member] | Maximum [Member] | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Restricted stock awards, vest, period | '5 years |
2000 Plan [Member] | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Expiration date for stock options | '10 years |
Weighted-average remaining contractual term | '8 months 12 days |
Aggregate intrinsic value | $0 |
Class A Common Stock [Member] | 2007 Plan [Member] | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Shares authorized | 4 |
StockBased_Compensation_Restri
Stock-Based Compensation - Restricted Stock Activity (Detail) (2007 Plan [Member], USD $) | 3 Months Ended |
Sep. 30, 2013 | |
2007 Plan [Member] | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Unvested as of July 1, 2013,Shares | 173,451 |
Granted, Shares | 35,000 |
Vested, Shares | -3,334 |
Unvested as of September 30, 2013,Shares | 205,117 |
Unvested as of July 1, 2013,Weighted-Average Grant-Date Fair Value | $6.33 |
Granted, Weighted-Average Grant-Date Fair Value | $8.56 |
Vested, Weighted-Average Grant-Date Fair Value | $4.51 |
Unvested as of September 30, 2013,Weighted-Average Grant-Date Fair Value | $6.74 |
StockBased_Compensation_Stock_
Stock-Based Compensation - Stock Option Activity (Detail) (2000 Plan [Member], USD $) | 3 Months Ended |
Sep. 30, 2013 | |
2000 Plan [Member] | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Outstanding as of July 1, 2013,Options | 99,750 |
Forfeited, Options | ' |
Outstanding and exercisable as of September 30, 2013,Options | 99,750 |
Outstanding as of July 1, 2013,Weighted-Average Exercise Price | $15.75 |
Forfeited, Weighted-Average Exercise Price | ' |
Outstanding and exercisable as of September 30, 2013, Weighted-Average Exercise Price | $15.75 |
Income_Taxes_Additional_Inform
Income Taxes - Additional Information (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Income Tax Disclosure [Abstract] | ' | ' | ' | ' |
Effective tax rate | 39.00% | 40.00% | 37.00% | 39.00% |
Federal statutory rate | ' | ' | 34.00% | ' |
Decrease in income tax due to decrease in state tax effective rate | ' | ' | $0.30 | ' |
Related_Party_Transactions_Add
Related Party Transactions - Additional Information (Detail) (USD $) | 3 Months Ended | 9 Months Ended | 1 Months Ended | 1 Months Ended | |||
Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | 31-May-13 | Sep. 30, 2013 | Apr. 12, 2013 | |
KVGS-FM [Member] | GGB Las Vegas [Member] | Beasley Family Towers Inc [Member] | Beasley Family Towers Inc [Member] | Digital PowerRadio LLC [Member] | |||
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Purchase price for acquisition | ' | ' | $4,000,000 | ' | ' | ' | ' |
Unreimbursed management fee losses | 185,916 | 185,916 | ' | 185,916 | ' | ' | ' |
Purchase of property and equipment | ' | ' | ' | 99,483 | ' | ' | ' |
Interest rate on the notes receivable | 2.57% | 2.57% | ' | ' | 6.00% | 2.57% | ' |
Notes Receivable Related Parties Monthly Payments | ' | ' | ' | ' | 38,000 | ' | ' |
Additional contribution to related party | ' | ' | ' | ' | ' | ' | $104,167 |
Percentage of outstanding units ownership interest to Digital PowerRadio | ' | ' | ' | ' | ' | ' | 20.00% |
Related_Party_Transactions_Sum
Related Party Transactions - Summary of the Carrying Amounts of Assets Acquired and the Adjustment to Additional Paid-in Capital (Detail) (KVGS-FM [Member], USD $) | 9 Months Ended |
Sep. 30, 2013 | |
KVGS-FM [Member] | ' |
Business Acquisition [Line Items] | ' |
Property and equipment | $384,118 |
FCC broadcasting license | 2,806,982 |
Carrying amount of assets acquired | 3,191,100 |
Purchase price | 4,000,000 |
Adjustment to additional paid-in capital | ($808,900) |
Financial_Instruments_Addition
Financial Instruments - Additional Information (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
Fair Value Disclosures [Abstract] | ' | ' |
Percentage of fixed rate of interest carrying amount of notes receivables | 2.57% | ' |
Carrying amount of notes receivable from related parties | $2,403,330 | $2,656,067 |
Fair value of notes receivable | 2,200,000 | 2,900,000 |
Long-term debt | $110,250,000 | $116,750,000 |