Beasley Broadcast (BBGI) 10-Q 1 Aug 14 2014 Q2 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	6 Months Ended
	Jun. 30, 2014	Jul. 25, 2014	Jul. 25, 2014
		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-Jun-14	'	'
Document Fiscal Year Focus	'2014	'	'
Document Fiscal Period Focus	'Q2	'	'
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	'	6,451,092	16,662,743

Condensed_Consolidated_Balance

Condensed Consolidated Balance Sheets (Unaudited) (USD $)	Jun. 30, 2014	Dec. 31, 2013
Current assets:	'	'
Cash and cash equivalents	$12,091,451	$14,299,013
Accounts receivable, less allowance for doubtful accounts of $499,865 in 2013 and $454,057 in 2014	16,570,897	17,195,453
Prepaid expenses	3,238,245	1,459,757
Deferred tax assets	128,937	374,660
Other current assets	2,974,920	2,522,797
Total current assets	35,004,450	35,851,680
Notes receivable from related parties	1,931,447	2,305,502
Property and equipment, net	20,923,758	20,136,777
FCC broadcasting licenses	186,329,864	186,174,864
Goodwill	13,629,364	13,629,364
Other assets	6,131,967	6,110,702
Total assets	263,950,850	264,208,889
Current liabilities:	'	'
Current portion of long-term debt	5,112,500	4,250,000
Accounts payable	1,238,140	1,675,130
Other current liabilities	7,997,569	8,391,168
Total current liabilities	14,348,209	14,316,298
Long-term debt, net of current portion	97,137,500	102,625,000
Deferred tax liabilities	55,912,979	52,771,252
Other long-term liabilities	811,369	870,245
Total liabilities	168,210,057	170,582,795
Commitments and contingencies	'	'
Stockholders' equity:	'	'
Preferred stock, $0.001 par value; 10,000,000 shares authorized; none issued	'	0
Additional paid-in capital	117,977,444	117,130,362
Treasury stock, Class A common stock; 2,788,608 in 2013; 2,829,029 shares in 2014	-15,096,008	-14,729,984
Accumulated deficit	-7,173,981	-8,824,642
Accumulated other comprehensive income	7,396	24,622
Stockholders' equity	95,740,793	93,626,094
Total liabilities and stockholders' equity	263,950,850	264,208,889
Class A Common Stock [Member]	'	'
Stockholders' equity:	'	'
Common stock	9,280	9,074
Class B Common Stock [Member]	'	'
Stockholders' equity:	'	'
Common stock	$16,662	$16,662

Condensed_Consolidated_Balance1

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) (USD $)	Jun. 30, 2014	Dec. 31, 2013
Accounts receivable, less allowance for doubtful accounts	$454,057	$499,865
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	2,829,029	2,788,608
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	9,280,121	9,073,940
Common stock, shares outstanding	6,451,092	6,285,332
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 (Unaudited) (USD $)	3 Months Ended		6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Income Statement [Abstract]	'	'	'	'
Net revenue	$25,875,785	$26,855,633	$50,095,054	$51,668,102
Operating expenses:	'	'	'	'
Station operating expenses (including stock-based compensation of $11,553 in 2013 and $54,066 in 2014 and excluding depreciation and amortization shown separately below)	16,390,400	16,773,324	33,492,540	33,476,328
Corporate general and administrative expenses (including stock-based compensation of $171,747 in 2013 and $316,615 in 2014)	2,342,619	2,129,569	4,617,623	4,223,578
Depreciation and amortization	616,750	527,529	1,223,312	1,092,224
Total operating expenses	19,349,769	19,430,422	39,333,475	38,792,130
Operating income	6,526,016	7,425,211	10,761,579	12,875,972
Non-operating income (expense):	'	'	'	'
Interest expense	-1,100,089	-2,326,250	-2,323,804	-4,374,124
Loss on extinguishment of long-term debt	-23,599	-1,260,784	-23,599	-1,260,784
Other income (expense), net	-313,655	36,563	-289,393	82,592
Income before income taxes	5,088,673	3,874,740	8,124,783	7,323,656
Income tax expense	2,067,384	1,516,771	4,420,622	2,545,200
Net income	3,021,289	2,357,969	3,704,161	4,778,456
Other comprehensive income:	'	'	'	'
Unrealized gain (loss) on securities (net of income tax expense (benefit) of $3,558 and $5,189 in three and six months ended June 30 2013, and $2,814 and $10,560 in three and six months ended June 30, 2014)	4,372	5,718	-17,226	-8,184
Comprehensive income	$3,025,661	$2,363,687	$3,686,935	$4,770,272
Net income per share:	'	'	'	'
Basic and diluted	$0.13	$0.10	$0.16	$0.21
Dividends declared per common share	$0.05	'	$0.09	'
Weighted average shares outstanding:	'	'	'	'
Basic	22,818,398	22,742,198	22,800,628	22,726,954
Diluted	22,879,408	22,798,418	22,877,921	22,774,001

Condensed_Consolidated_Stateme1

Condensed Consolidated Statements Of Comprehensive Income (Unaudited) (Parenthetical) (USD $)	3 Months Ended		6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Stock-based compensation	'	'	$727,183	$320,513
Unrealized gain (loss) on securities, income tax expense	2,814	3,558	10,560	5,189
Station Operating Expenses [Member]	'	'	'	'
Stock-based compensation	54,066	11,553	133,664	18,791
Corporate General and Administrative Expenses [Member]	'	'	'	'
Stock-based compensation	$316,615	$171,747	$593,519	$301,722

Condensed_Consolidated_Stateme2

Condensed Consolidated Statements Of Cash Flows (Unaudited) (USD $)	6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013
Cash flows from operating activities:	'	'
Net income	$3,704,161	$4,778,456
Adjustments to reconcile net income to net cash provided by operating activities:	'	'
Stock-based compensation	727,183	320,513
Provision for bad debts	232,763	408,421
Depreciation and amortization	1,223,312	1,092,224
Amortization of loan fees	205,254	254,659
Loss on notes receivable from related party	332,034	'
Loss on extinguishment of long-term debt	23,599	1,260,784
Deferred income taxes	3,376,251	1,860,094
Change in operating assets and liabilities:	'	'
Accounts receivable	391,793	35,082
Prepaid expenses	-1,778,488	-2,330,930
Other assets	-454,283	181,107
Accounts payable	-436,990	-238,270
Other liabilities	-502,130	-219,618
Other operating activities	-76,601	10,455
Net cash provided by operating activities	6,967,858	7,412,977
Cash flows from investing activities:	'	'
Capital expenditures	-1,789,927	-852,349
Payments for translator licenses	-155,000	-30,000
Payments for investments	-104,167	-104,167
Repayment of notes receivable from related parties	192,021	155,529
Net cash used in investing activities	-1,857,073	-830,987
Cash flows from financing activities:	'	'
Principal payments on indebtedness	-4,625,000	-4,500,000
Payments of loan fees	-391,225	-617,051
Tax benefit from vesting of restricted stock	114,078	50,633
Dividends paid	-2,050,176	'
Payments for treasury stock	-366,024	-183,845
Net cash used in financing activities	-7,318,347	-5,250,263
Net increase (decrease) in cash and cash equivalents	-2,207,562	1,331,727
Cash and cash equivalents at beginning of period	14,299,013	11,660,648
Cash and cash equivalents at end of period	12,091,451	12,992,375
Cash paid for interest	2,118,550	4,080,557
Cash paid for income taxes	2,003,445	2,274,395
Supplement disclosure of non-cash investing and financing activities:	'	'
Property and equipment acquired through placement of advertising airtime	60,412	29,080
Property and equipment acquired through a logo agreement	160,000	0
Dividends declared but unpaid	$1,026,863	$0

Interim_Financial_Statements

Interim Financial Statements	6 Months Ended
	Jun. 30, 2014
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, 2013. 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 Pronouncements	6 Months Ended
	Jun. 30, 2014
Accounting Changes And Error Corrections [Abstract]	'
Recent Accounting Pronouncements	'
	-2	Recent Accounting Pronouncements
	In May 2014, the FASB issued guidance to clarify the principles for recognizing revenue. The core principle of the guidance is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The guidance provides a comprehensive framework for revenue recognition that supersedes current general revenue guidance and most industry-specific guidance. In addition, the guidance requires improved disclosures to help users of financial statements better understand the nature, amount, timing, and uncertainty of revenue that is recognized. The new guidance is effective for annual reporting periods beginning after December 15, 2016, including interim periods within that reporting period. Early adoption is not permitted. An entity should apply the guidance either retrospectively to each prior reporting period presented or retrospectively with the cumulative adjustment at the date of the initial application. The Company has not determined the impact of adoption on its financial statements.

FCC_Broadcasting_Licenses

FCC Broadcasting Licenses	6 Months Ended
	Jun. 30, 2014
Text Block [Abstract]	'
FCC Broadcasting Licenses	'
	-3	FCC Broadcasting Licenses
	The change in the carrying amount of FCC broadcasting licenses for the six months ended June 30, 2014 is as follows:
	Balance as of December 31, 2013		$	186,174,864
	Translator licenses			155,000
	Balance as of June 30, 2014		$	186,329,864
	On May 1, 2014, the Company completed the acquisition of one FM translator license from Eastern Airwaves, LLC for $75,000. This translator license allows the Company to rebroadcast the programming of one of its radio stations in Fayetteville, NC on the FM band over an expanded area of coverage.
	On February 14, 2014, the Company completed the acquisition of one FM translator license from Starboard Media Foundation, Inc. for $15,000 and on March 1, 2014, the Company placed in service one FM translator license acquired from CTC Media Group for $65,000. These translator licenses allow the Company to rebroadcast the programming of two of its radio stations in Greenville-New Bern-Jacksonville, NC 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	6 Months Ended
	Jun. 30, 2014
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 the third quarter of 2014. The interest rate caps were not designated as hedging instruments. The fair value of the interest rate caps, reported in other assets, was approximately zero as of June 30, 2014. 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 zero and $1,000 for the three and six months ended June 30, 2014, respectively.

LongTerm_Debt

Long-Term Debt	6 Months Ended
	Jun. 30, 2014
Debt Disclosure [Abstract]	'
Long-Term Debt	'
	-5	Long-Term Debt
	Long-term debt is comprised of the following:
			December 31,			June 30,
			2013			2014
	Term loan		$	99,875,000		$	102,250,000
	Revolving credit facility			7,000,000			—
				106,875,000			102,250,000
	Less current installments			(4,250,000	)		(5,112,500	)
			$	102,625,000		$	97,137,500
	As of December 31, 2013, the credit facility consisted of a term loan with a remaining balance of $99.9 million and a revolving credit facility with a maximum commitment of $20.0 million. The credit facility carried interest, based on adjusted LIBOR, at 4.17% as of December 31, 2013.
	On June 17, 2014, the Company amended its credit agreement to revise certain terms, including financial covenants and interest rate margins and to extend the maturity date of the credit facility. The amendment also increased the amount of cash dividends the Company may pay per year and eliminated mandatory prepayments of excess cash flow when the Company’s consolidated total debt is less than three times its consolidated operating cash flow. In addition, the Company repaid the revolving credit facility with $5.75 million of additional term loan borrowings and $1.25 million of cash of hand. In connection with the amended credit agreement, the Company recorded a loss on extinguishment of long-term debt of approximately $24,000 during the second quarter of 2014.
	As of June 30, 2014, the credit facility consisted of a term loan with a remaining balance of $102.2 million and a revolving credit facility with a maximum commitment of $20.0 million. As of June 30, 2014, the Company had $20.0 million in remaining commitments available under its revolving credit facility. At the Company’s election, the credit facility may bear interest at either (i) adjusted LIBOR, as defined in the credit agreement, plus a margin ranging from 2.75% to 4.75% that is determined by the Company’s consolidated total debt ratio, as defined in the credit agreement or (ii) the base rate, as defined in the credit agreement, plus a margin ranging from 1.75% to 3.75% that is determined by the Company’s consolidated total debt ratio. Interest on adjusted LIBOR 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 credit facility carried interest, based on adjusted LIBOR, at 3.4% as of June 30, 2014 and matures on August 9, 2019.
	The credit agreement requires mandatory prepayments equal to 50% of consolidated excess cash flow, as defined in the 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 credit agreement. Prepayments of excess cash flow are not required 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 credit agreement requires the Company to comply with certain financial covenants which are defined in the 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, 2014 must not exceed 4.5 times its consolidated operating cash flow for the four quarters then ended. The maximum ratio is 4.25 times for the period from January 1, 2015 through June 30, 2015, 4.0 times for the period from July 1, 2015 through December 31, 2015, 3.75 times for 2016, 3.25 times for 2017, and 3.0 times thereafter.
		•		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 credit 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 credit facility. If the Company defaults under the terms of the credit agreement, the Company and its applicable subsidiaries may be required to perform under their guarantees. As of June 30, 2014, the maximum amount of undiscounted payments the Company and its applicable subsidiaries would have had to make in the event of default was $102.2 million. The guarantees for the credit facility expire on August 9, 2019.
	The aggregate scheduled principal repayments of the credit facility for the remainder of 2014, the next four years, and thereafter are as follows:
	2014		$	2,556,250
	2015			5,112,500
	2016			6,390,626
	2017			7,668,752
	2018			8,946,876
	Thereafter			71,574,996
	Total		$	102,250,000
	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 June 30, 2014, the Company was in compliance with all applicable financial covenants under its credit agreement.

Other_Revenue

Other Revenue	6 Months Ended
	Jun. 30, 2014
Other Income And Expenses [Abstract]	'
Other Revenue	'
	-6	Other Revenue
	On June 30, 2014, the Company entered into an agreement with an electronics company and its affiliate concerning the use of the Company’s and their respective logos in connection with the Company’s and their respective goods and services. As a result of this agreement, the Company recorded $0.7 million in other revenue during the three and six months ended June 30, 2014.

StockBased_Compensation

Stock-Based Compensation	6 Months Ended
	Jun. 30, 2014
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]	'
Stock-Based Compensation	'
	-7	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 April 1, 2014			288,947		$	8.68
	Granted			21,500			7.01
	Vested			(6,700	)		7.27
	Forfeited			(9,083	)		8.71
	Unvested as of June 30, 2014			294,664		$	8.59
	As of June 30, 2014, there was $1.9 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 2.1 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 April 1, 2014			62,250		$	15.82
	Forfeited			(15,000	)		14.79
	Outstanding and exercisable as of June 30, 2014			47,250		$	16.15
	As of June 30, 2014, the weighted-average remaining contractual term was 0.3 years and the aggregate intrinsic value was zero for stock options granted under the 2000 Plan.

Income_Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2014
Income Tax Disclosure [Abstract]	'
Income Taxes	'
	-8	Income Taxes
	The Company’s effective tax rate was approximately 41% and 54% for the three and six months ended June 30, 2014, respectively. These rates differ from the federal statutory rate of 35% due to the effect of state income taxes and certain expenses that are not deductible for tax purposes. The effective tax rate for the six months ended June 30, 2014 also reflects a $1.4 million increase from a change to the Company’s federal tax rate based on a projected increase in taxable income for 2014 and a $0.3 million decrease from a change to the Company’s effective state tax rate. The Company evaluated its taxable income projections during the first quarter of 2014 and determined, based on certain changes in facts and circumstances related to the projections, that the federal tax rate should increase from 34% to 35%. The change in the federal tax rate has been accounted for as a change in accounting estimate during the six months ended June 30, 2014.
	The Company’s effective tax rate was approximately 39% and 35% for the three and six months ended June 30, 2013, respectively. These rates 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 six months ended June 30, 2013 also reflects a $0.3 million decrease from a change to the Company’s effective state tax rate.

Related_Party_Transactions

Related Party Transactions	6 Months Ended
	Jun. 30, 2014
Related Party Transactions [Abstract]	'
Related Party Transactions	'
	-9	Related Party Transactions
	On April 7, 2014, Beasley Family Towers, LLC (“BFT”), which is owned by George G. Beasley, Bruce G. Beasley, Caroline Beasley, Brian E. Beasley and other family members of George G. Beasley, entered into an agreement to demolish a radio tower that was leased to the Company for a radio station in Miami, FL. As a result of the tower demolition, the agreement requiring the Company to make monthly lease payments of approximately $3,000 per month to BFT was canceled and the Company forgave indebtedness of $0.3 million associated with notes receivable from BFT. The related party debt forgiveness was approved by the Audit Committee. The $0.3 million loss on the notes receivable was reported in other income (expense), net during the three and six months ended June 30, 2014.
	On April 4, 2014, 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.
	On September 1, 2013, the Company completed the acquisition of KVGS-FM in Las Vegas, NV from GGB Las Vegas, LLC, which is controlled 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, net of taxes, to additional paid-in capital. The Company did not retrospectively adjust the statement of comprehensive income for the three and six months ended June 30, 2013 to furnish comparative information for the period under which the Company and GGB Las Vegas, LLC were under common control as the adjustments were considered immaterial to the period presented. The operations of KVGS-FM have been included in the Company’s results of operations from its acquisition date.

Financial_Instruments

Financial Instruments	6 Months Ended
	Jun. 30, 2014
Investments All Other Investments [Abstract]	'
Financial Instruments	'
	-10	Financial Instruments
	The carrying amount of notes receivable from related parties with a fixed rate of interest of 2.57% was $1.9 million as of June 30, 2014, compared with a fair value of $1.8 million based on current market interest rates. The carrying amount of notes receivable from related parties was $2.3 million as of December 31, 2013, compared with a fair value of $2.2 million based on market rates at that time.
	The carrying amount of long term debt, including the current installments, was $102.2 million as of June 30, 2014 and approximated fair value based on current market interest rates. The carrying amount of long-term debt was $106.9 million as of December 31, 2013 and approximated fair value based on market rates at that time.

Recent_Accounting_Pronouncemen1

Recent Accounting Pronouncements (Policies)	6 Months Ended
	Jun. 30, 2014
Accounting Changes And Error Corrections [Abstract]	'
Recent Accounting Pronouncements	'
	In May 2014, the FASB issued guidance to clarify the principles for recognizing revenue. The core principle of the guidance is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The guidance provides a comprehensive framework for revenue recognition that supersedes current general revenue guidance and most industry-specific guidance. In addition, the guidance requires improved disclosures to help users of financial statements better understand the nature, amount, timing, and uncertainty of revenue that is recognized. The new guidance is effective for annual reporting periods beginning after December 15, 2016, including interim periods within that reporting period. Early adoption is not permitted. An entity should apply the guidance either retrospectively to each prior reporting period presented or retrospectively with the cumulative adjustment at the date of the initial application. The Company has not determined the impact of adoption on its financial statements.

FCC_Broadcasting_Licenses_Tabl

FCC Broadcasting Licenses (Tables)	6 Months Ended
	Jun. 30, 2014
Text Block [Abstract]	'
Carrying Amount of Broadcasting Licenses	'
	The change in the carrying amount of FCC broadcasting licenses for the six months ended June 30, 2014 is as follows:
	Balance as of December 31, 2013	$	186,174,864
	Translator licenses		155,000
	Balance as of June 30, 2014	$	186,329,864

LongTerm_Debt_Tables

Long-Term Debt (Tables)	6 Months Ended
	Jun. 30, 2014
Debt Disclosure [Abstract]	'
Summary of Long-Term Debt	'
	Long-term debt is comprised of the following:
		December 31,			June 30,
		2013			2014
	Term loan	$	99,875,000		$	102,250,000
	Revolving credit facility		7,000,000			—
			106,875,000			102,250,000
	Less current installments		(4,250,000	)		(5,112,500	)
		$	102,625,000		$	97,137,500
Scheduled Repayments of Credit Facility	'
	The aggregate scheduled principal repayments of the credit facility for the remainder of 2014, the next four years, and thereafter are as follows:
	2014	$	2,556,250
	2015		5,112,500
	2016		6,390,626
	2017		7,668,752
	2018		8,946,876
	Thereafter		71,574,996
	Total	$	102,250,000

StockBased_Compensation_Tables

Stock-Based Compensation (Tables)	6 Months Ended
	Jun. 30, 2014
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 April 1, 2014		288,947		$	8.68
	Granted		21,500			7.01
	Vested		(6,700	)		7.27
	Forfeited		(9,083	)		8.71
	Unvested as of June 30, 2014		294,664		$	8.59
Stock Option Activity	'
	A summary of stock option activity under the 2000 Plan is as follows:
		Options			Weighted-
					Average
					Exercise
					Price
	Outstanding as of April 1, 2014		62,250		$	15.82
	Forfeited		(15,000	)		14.79
	Outstanding and exercisable as of June 30, 2014		47,250		$	16.15

FCC_Broadcasting_Licenses_Carr

FCC Broadcasting Licenses - Carrying Amount of Broadcasting Licenses (Detail) (USD $)	Jun. 30, 2014	Dec. 31, 2013	Jun. 30, 2014
			FCC Broadcasting License [Member]
FCC Broadcasting Licenses [Line Items]	'	'	'
Beginning Balance	$186,329,864	$186,174,864	$186,174,864
Translator licenses	'	'	155,000
Ending Balance	$186,329,864	$186,174,864	$186,329,864

FCC_Broadcasting_Licenses_Addi

FCC Broadcasting Licenses - Additional Information (Detail) (USD $)	6 Months Ended	1 Months Ended	0 Months Ended	1 Months Ended
	Jun. 30, 2014	Feb. 28, 2014	Feb. 14, 2014	Apr. 30, 2014
		CTC Media Group [Member]	Starboard Media Foundation, Inc. [Member]	Eastern Airwaves, LLC [Member]
		License	License	License
FCC Broadcasting Licenses [Line Items]	'	'	'	'
Acquisition of translator licenses	'	$65,000	$15,000	$75,000
Number of translator licenses acquired	'	1	1	1
Translator licenses renewable term	'8 years	'	'	'

Derivative_Financial_Instrumen1

Derivative Financial Instruments - Additional Information (Detail) (USD $)	3 Months Ended	6 Months Ended
	Jun. 30, 2014	Jun. 30, 2014
Derivative Instruments, Gain (Loss) [Line Items]	'	'
Number of interest rate cap agreements	2	2
Interest Rate Cap [Member]	'	'
Derivative Instruments, Gain (Loss) [Line Items]	'	'
Aggregate notional amount of interest rate cap agreements	$57,500,000	$57,500,000
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	0	0
Interest Rate Cap [Member] | Interest Expense [Member]	'	'
Derivative Instruments, Gain (Loss) [Line Items]	'	'
Change in fair value, reported in interest expense	$0	$1,000

LongTerm_Debt_Summary_of_LongT

Long-Term Debt - Summary of Long-Term Debt (Detail) (USD $)	Jun. 30, 2014	Dec. 31, 2013
Line of Credit Facility [Line Items]	'	'
Long-term debt	$102,250,000	$106,875,000
Less current installments	-5,112,500	-4,250,000
Long-term debt non current portion	97,137,500	102,625,000
Term Loan [Member]	'	'
Line of Credit Facility [Line Items]	'	'
Long-term debt	102,250,000	99,875,000
Revolving Credit Loan [Member]	'	'
Line of Credit Facility [Line Items]	'	'
Revolving credit facility	'	$7,000,000

LongTerm_Debt_Additional_Infor

Long-Term Debt - Additional Information (Detail) (USD $)	0 Months Ended	3 Months Ended		6 Months Ended
	Jun. 17, 2014	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013	Dec. 31, 2013
Line of Credit Facility [Line Items]	'	'	'	'	'	'
Long-term debt	'	$102,250,000	'	$102,250,000	'	$106,875,000
Prepayment of first lien credit through cash on hand	1,250,000	'	'	'	'	'
Loss on extinguishment of long-term debt	'	-23,599	-1,260,784	-23,599	-1,260,784	'
Mandatory prepayments of consolidated excess cash flow due period	'	'	'	'120 days	'	'
Mandatory prepayments of consolidated excess cash flow required by credit agreement	'	'	'	'The credit agreement requires mandatory prepayments equal to 50% of consolidated excess cash flow, as defined in the 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 credit agreement. Prepayments of excess cash flow are not required 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.	'	'
Term Loan [Member]	'	'	'	'	'	'
Line of Credit Facility [Line Items]	'	'	'	'	'	'
Long-term debt	'	102,250,000	'	102,250,000	'	99,875,000
Additional borrowings	5,750,000	'	'	'	'	'
First Mortgage [Member] | Must Not Be Less Than [Member]	'	'	'	'	'	'
Line of Credit Facility [Line Items]	'	'	'	'	'	'
Interest Coverage Ratio	'	'	'	2	'	'
Credit Facility [Member]	'	'	'	'	'	'
Line of Credit Facility [Line Items]	'	'	'	'	'	'
Long-term debt	'	102,200,000	'	102,200,000	'	'
Revolving credit loan and term loan carried interest	'	3.40%	'	3.40%	'	4.17%
Revolving credit facility and term loan maturity date	'	'	'	9-Aug-19	'	'
Mandatory prepayments of excess cash flow	'	50.00%	'	50.00%	'	'
Credit Facility [Member] | Term Loan [Member]	'	'	'	'	'	'
Line of Credit Facility [Line Items]	'	'	'	'	'	'
Long-term debt	'	102,200,000	'	102,200,000	'	99,900,000
Credit Facility [Member] | Revolving Credit Loan [Member]	'	'	'	'	'	'
Line of Credit Facility [Line Items]	'	'	'	'	'	'
Revolving credit facility maximum commitment	'	20,000,000	'	20,000,000	'	20,000,000
Remaining commitments under the revolving credit loan facility	'	$20,000,000	'	$20,000,000	'	'
Revolving credit facility, Interest Rate Description	'	'	'	'At the Companybs election, the credit facility may bear interest at either(i) adjusted LIBOR, as defined in the credit agreement, plus a margin ranging from 2.75% to 4.75% that is determined by the Company's consolidated total debt ratio, as defined in the credit agreement or (ii) the base rate, as defined in the credit agreement, plus a margin ranging from 1.75% to 3.75% that is determined by the Company's consolidated total debt ratio	'	'
Credit Facility [Member] | Revolving Credit Loan and Term Loan [Member]	'	'	'	'	'	'
Line of Credit Facility [Line Items]	'	'	'	'	'	'
Revolving credit facility and term loan maturity date	'	'	'	9-Aug-19	'	'
Credit Facility [Member] | Maximum [Member] | Revolving Credit Loan [Member] | LIBOR [Member]	'	'	'	'	'	'
Line of Credit Facility [Line Items]	'	'	'	'	'	'
Credit facility interest rate margins	'	'	'	4.75%	'	'
Credit Facility [Member] | Maximum [Member] | Revolving Credit Loan [Member] | Base rate [Member]	'	'	'	'	'	'
Line of Credit Facility [Line Items]	'	'	'	'	'	'
Credit facility interest rate margins	'	'	'	3.75%	'	'
Credit Facility [Member] | Minimum [Member] | Revolving Credit Loan [Member] | LIBOR [Member]	'	'	'	'	'	'
Line of Credit Facility [Line Items]	'	'	'	'	'	'
Credit facility interest rate margins	'	'	'	2.75%	'	'
Credit Facility [Member] | Minimum [Member] | Revolving Credit Loan [Member] | Base rate [Member]	'	'	'	'	'	'
Line of Credit Facility [Line Items]	'	'	'	'	'	'
Credit facility interest rate margins	'	'	'	1.75%	'	'
Credit Facility [Member] | First Mortgage [Member] | Maximum [Member] | January One Two Thousand Fifteen Through June Thirty Two Thousand Fifteen [Member] | Forecast [Member]	'	'	'	'	'	'
Line of Credit Facility [Line Items]	'	'	'	'	'	'
Long-term Debt Covenants Aggregate Leverage Ratio	'	'	'	4.25	'	'
Credit Facility [Member] | First Mortgage [Member] | Maximum [Member] | July One Two Thousand Fifteen Through December Thirty First Two Thousand Fifteen [Member] | Forecast [Member]	'	'	'	'	'	'
Line of Credit Facility [Line Items]	'	'	'	'	'	'
Long-term Debt Covenants Aggregate Leverage Ratio	'	'	'	4	'	'
Credit Facility [Member] | First Mortgage [Member] | Maximum [Member] | January 1, 2016 through December 31, 2016 [Member] | Forecast [Member]	'	'	'	'	'	'
Line of Credit Facility [Line Items]	'	'	'	'	'	'
Long-term Debt Covenants Aggregate Leverage Ratio	'	'	'	3.75	'	'
Credit Facility [Member] | First Mortgage [Member] | Maximum [Member] | January One Two Thousand Seventeen Through December Thirty First Two Thousand Seventeen [Member] | Forecast [Member]	'	'	'	'	'	'
Line of Credit Facility [Line Items]	'	'	'	'	'	'
Long-term Debt Covenants Aggregate Leverage Ratio	'	'	'	3.25	'	'
Credit Facility [Member] | First Mortgage [Member] | Maximum [Member] | January One Two Thousand Eighteen Through Thereafter [Member] | Forecast [Member]	'	'	'	'	'	'
Line of Credit Facility [Line Items]	'	'	'	'	'	'
Long-term Debt Covenants Aggregate Leverage Ratio	'	'	'	3	'	'
Credit Facility [Member] | First Mortgage [Member] | Must Not Exceed [Member] | December 31,2014 [Member] | Forecast [Member]	'	'	'	'	'	'
Line of Credit Facility [Line Items]	'	'	'	'	'	'
Long-term Debt Covenants Aggregate Leverage Ratio	'	'	'	4.5	'	'

LongTerm_Debt_Scheduled_Repaym

Long-Term Debt - Scheduled Repayments of Credit Facility (Detail) (USD $)	Jun. 30, 2014	Dec. 31, 2013
Debt Disclosure [Abstract]	'	'
2014	$2,556,250	'
2015	5,112,500	'
2016	6,390,626	'
2017	7,668,752	'
2018	8,946,876	'
Thereafter	71,574,996	'
Total	$102,250,000	$106,875,000

Other_Revenue_Additional_Infor

Other Revenue - Additional Information (Detail) (USD $)	3 Months Ended	6 Months Ended
In Millions, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2014
Other Revenue [Abstract]	'	'
Other revenue	$0.70	$0.70

StockBased_Compensation_Additi

Stock-Based Compensation - Additional Information (Detail) (USD $)	6 Months Ended
Share data in Millions, unless otherwise specified	Jun. 30, 2014
2007 Plan [Member]	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'
Total unrecognized compensation cost related to restricted stock granted	$1,900,000
Cost is expected to be recognized over a weighted-average period	'2 years 1 month 6 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	'3 months 18 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
	Jun. 30, 2014
2007 Plan [Member]	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'
Unvested Shares, Beginning Balance	288,947
Granted, Shares	21,500
Vested, Shares	-6,700
Forfeited, Shares	-9,083
Unvested Shares, Ending Balance	294,664
Unvested, Weighted-Average Grant-Date Fair Value, Beginning Balance	$8.68
Granted, Weighted-Average Grant-Date Fair Value	$7.01
Vested, Weighted-Average Grant-Date Fair Value	$7.27
Forfeited, Weighted-Average Grant-Date Fair Value	$8.71
Unvested, Weighted-Average Grant-Date Fair Value, Ending Balance	$8.59

StockBased_Compensation_Stock_

Stock-Based Compensation - Stock Option Activity (Detail) (2000 Plan [Member], USD $)	3 Months Ended
	Jun. 30, 2014
2000 Plan [Member]	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'
Outstanding Options, Beginning Balance	62,250
Forfeited, Options	-15,000
Outstanding and exercisable Options, Ending Balance	47,250
Outstanding, Weighted-Average Exercise Price, Beginning Balance	$15.82
Forfeited, Weighted-Average Exercise Price	$14.79
Outstanding and exercisable, Weighted-Average Exercise Price, Ending Balance	$16.15

Income_Taxes_Additional_Inform

Income Taxes - Additional Information (Detail) (USD $)	3 Months Ended		6 Months Ended
In Millions, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Schedule Of Income Tax [Line Items]	'	'	'	'
Effective tax rate	41.00%	39.00%	54.00%	35.00%
Federal statutory rate	'	'	35.00%	34.00%
Increase (decrease) in income tax due to increase (decrease) in federal and state tax effective rate	'	'	($0.30)	($0.30)
Minimum [Member]	'	'	'	'
Schedule Of Income Tax [Line Items]	'	'	'	'
Federal statutory rate	'	'	34.00%	'
Maximum [Member]	'	'	'	'
Schedule Of Income Tax [Line Items]	'	'	'	'
Federal statutory rate	'	'	35.00%	'
Federal Tax Rate [Member]	'	'	'	'
Schedule Of Income Tax [Line Items]	'	'	'	'
Increase (decrease) in income tax due to increase (decrease) in federal and state tax effective rate	'	'	$1.40	'

Related_Party_Transactions_Add

Related Party Transactions - Additional Information (Detail) (USD $)	0 Months Ended	3 Months Ended	6 Months Ended	0 Months Ended
	Sep. 01, 2013	Jun. 30, 2014	Jun. 30, 2014	Apr. 04, 2014
	KVGS-FM [Member]	Beasley Family Towers Inc [Member]	Beasley Family Towers Inc [Member]	Digital PowerRadio LLC [Member]
Related Party Transaction [Line Items]	'	'	'	'
Monthly lease payment amount	'	'	$3,000	'
Indebtedness amount	'	300,000	300,000	'
Loss on notes receivable	'	300,000	300,000	'
Additional contribution to related party	'	'	'	104,167
Percentage of outstanding units ownership interest to Digital PowerRadio	'	'	'	20.00%
Cash paid for acquisition	$4,000,000	'	'	'

Financial_Instruments_Addition

Financial Instruments - Additional Information (Detail) (USD $)	Jun. 30, 2014	Dec. 31, 2013
Debt Instrument Fair Value Carrying Value [Abstract]	'	'
Percentage of fixed rate of interest carrying amount of notes receivables	2.57%	'
Carrying amount of notes receivable from related parties	$1,931,447	$2,305,502
Fair value of notes receivable	1,800,000	2,200,000
Long-term debt	$102,250,000	$106,875,000