Beasley Broadcast (BBGI) 10-Q 13 May 15 2015 Q1 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	3 Months Ended
	Mar. 31, 2015	6-May-15
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	FALSE
Document Period End Date	31-Mar-15
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	Q1
Trading Symbol	BBGI
Entity Registrant Name	BEASLEY BROADCAST GROUP INC
Entity Central Index Key	1099160
Current Fiscal Year End Date	-19
Entity Filer Category	Smaller Reporting Company
Class A Common Stock [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		6,580,768
Class B Common Stock [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		16,662,743

Condensed_Consolidated_Balance

Condensed Consolidated Balance Sheets (Unaudited) (USD $)	Mar. 31, 2015	Dec. 31, 2014
Current assets:
Cash and cash equivalents	$12,346,921	$14,259,441
Accounts receivable, less allowance for doubtful accounts of $544,932 in 2014 and $544,549 in 2015	17,620,616	17,637,686
Prepaid expenses	2,131,209	636,552
Deferred tax assets	176,872	220,316
Other current assets	2,016,504	2,784,210
Total current assets	34,292,122	35,538,205
Notes receivable from related parties	1,655,527	1,748,092
Property and equipment, net	28,013,991	28,254,202
FCC broadcasting licenses	234,518,930	234,328,330
Goodwill	8,857,516	8,857,516
Other intangibles, net	949,962	1,358,026
Other assets	5,833,751	5,882,818
Total assets	314,121,799	315,967,189
Current liabilities:
Current portion of long-term debt	2,890,625	3,112,500
Accounts payable	853,527	1,120,434
Other current liabilities	8,546,196	9,794,234
Total current liabilities	12,290,348	14,027,168
Long-term debt, net of current portion	93,303,125	94,581,250
Deferred tax liabilities	76,918,423	75,996,813
Other long-term liabilities	789,275	819,670
Total liabilities	183,301,171	185,424,901
Commitments and contingencies
Stockholders' equity:
Preferred stock, $0.001 par value; 10,000,000 shares authorized; none issued
Additional paid-in capital	118,754,061	118,535,400
Treasury stock, Class A common stock; 2,830,904 in 2014; 2,878,379 shares in 2015	-15,345,044	-15,107,464
Retained earnings	27,333,708	27,066,481
Accumulated other comprehensive income	51,780	21,933
Total stockholders' equity	130,820,628	130,542,288
Total liabilities and stockholders' equity	314,121,799	315,967,189
Class A Common Stock [Member]
Stockholders' equity:
Common stock	9,461	9,276
Class B Common Stock [Member]
Stockholders' equity:
Common stock	$16,662	$16,662

Condensed_Consolidated_Balance1

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) (USD $)	Mar. 31, 2015	Dec. 31, 2014
Allowance for doubtful accounts	$544,549	$544,932
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	2,878,379	2,830,904
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	9,460,822	9,275,746
Common stock, shares outstanding	6,582,443	6,444,842
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
	Mar. 31, 2015	Mar. 31, 2014
Income Statement [Abstract]
Net revenue	$24,250,839	$12,955,429
Operating expenses:
Station operating expenses (including stock-based compensation of $77,143 in 2014 and $41,791 in 2015 and excluding depreciation and amortization shown separately below)	17,813,948	9,607,617
Corporate general and administrative expenses (including stock-based compensation of $276,904 in 2014 and $328,091 in 2015)	2,439,147	2,275,004
Radio station exchange transaction costs	303,762
Depreciation and amortization	1,118,853	466,739
Total operating expenses	21,675,710	12,349,360
Operating income	2,575,129	606,069
Non-operating income (expense):
Interest expense	-948,006	-1,223,715
Other income (expense), net	471,805	23,039
Income (loss) from continuing operations before income taxes	2,098,928	-594,607
Income tax expense	800,544	921,110
Income (loss) from continuing operations	1,298,384	-1,515,717
Income from discontinued operations (net of income taxes)		2,198,589
Net income	1,298,384	682,872
Other comprehensive income:
Unrealized gain (loss) on securities (net of income tax benefit of $13,368 in 2014 and income tax expense of $18,441 in 2015)	29,847	-21,604
Comprehensive income	$1,328,231	$661,268
Basic and diluted net income per share:
Continuing operations	$0.06	($0.07)
Discontinued operations		$0.10
Net income per share	$0.06	$0.03
Dividends declared per common share	$0.05	$0.05
Weighted average shares outstanding:
Basic	22,880,681	22,782,661
Diluted	22,906,828	22,843,287

Condensed_Consolidated_Stateme1

Condensed Consolidated Statements of Comprehensive Income (Unaudited) (Parenthetical) (USD $)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Stock-based compensation	$369,882	$356,502
Unrealized gain (loss) on securities, income tax expense (benefit)	18,441	-13,368
Station Operating Expenses [Member]
Stock-based compensation	41,791	77,143
Corporate General and Administrative Expenses [Member]
Stock-based compensation	$328,091	$276,904

Condensed_Consolidated_Stateme2

Condensed Consolidated Statements of Cash Flows (Unaudited) (USD $)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Cash flows from operating activities:
Net income	$1,298,384	$682,872
Adjustments to reconcile net income to net cash provided by operating activities:
Stock-based compensation	369,882	356,502
Provision for bad debts	62,131	155,649
Depreciation and amortization	1,118,853	606,562
Amortization of loan fees	84,366	104,526
Deferred income taxes	994,901	2,216,473
Change in operating assets and liabilities:
Accounts receivable	-45,061	1,354,189
Prepaid expenses	-1,494,657	-1,097,448
Other assets	820,121	28,050
Accounts payable	-266,907	-188,102
Other liabilities	-1,398,719	-133,513
Other operating activities	21,022	128,581
Net cash provided by operating activities	1,564,316	4,214,341
Cash flows from investing activities:
Capital expenditures	-462,557	-1,188,683
Payments for translator licenses	-190,600	-65,000
Repayment of notes receivable from related parties	92,565	98,461
Net cash used in investing activities	-560,592	-1,155,222
Cash flows from financing activities:
Principal payments on indebtedness	-1,500,000	-3,375,000
Tax benefit from vesting of restricted stock	-151,036	111,114
Dividends paid	-1,027,628	-1,023,539
Payments for treasury stock	-237,580	-351,719
Net cash used in financing activities	-2,916,244	-4,639,144
Net decrease in cash and cash equivalents	-1,912,520	-1,580,025
Cash and cash equivalents at beginning of period	14,259,441	14,299,013
Cash and cash equivalents at end of period	12,346,921	12,718,988
Cash paid for interest	863,640	1,119,189
Cash paid for income taxes	2,229,471	130,095
Supplement disclosure of non-cash investing and financing activities:
Property and equipment acquired through placement of advertising airtime	8,021
Dividends declared but unpaid	$1,031,157	$1,026,637

Interim_Financial_Statements

Interim Financial Statements	3 Months Ended
	Mar. 31, 2015
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, 2014. 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	3 Months Ended
	Mar. 31, 2015
Accounting Changes and Error Corrections [Abstract]
Recent Accounting Pronouncements	(2) Recent Accounting Pronouncements
	In April 2015, the FASB issued guidance to simplify presentation of debt issuance costs. The guidance requires debt issuance related to a recognized debt liability to be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability. The new guidance is effective for financial statements issued for fiscal years beginning after December 15, 2015, and interim periods within those fiscal years. Early adoption is permitted for financial statements that have not been previously issued. Upon adoption of the guidance, the Company will present loan fees as a deduction from long-term debt in the balance sheet. Loan fees totaled $1.5 million as of March 31, 2015.
	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. 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 new guidance was originally set to become effective for annual reporting periods beginning after December 15, 2016, including interim periods within that reporting period and early adoption was not permitted. However, on April 29, 2015, the FASB issued for public comment a proposed update that would defer the effective date of the new guidance to annual reporting periods beginning after December 15, 2017, but would allow early adoption for annual reporting periods beginning after December 15, 2016. The Company has not determined the impact of adoption on its financial statements.
	In April 2014, the FASB issued guidance that changes the requirements for reporting discontinued operations. A disposal of a component of an entity or a group of components of an entity is required to be reported in discontinued operations if the disposal represents a strategic shift that has (or will have) a major effect on an entity’s operations and financial results when any of the following occurs:
		1	The component of an entity or group of components of an entity meets the criteria to be classified as held for sale.
		2	The component of an entity or group of components of an entity is disposed of by sale.
		3	The component of an entity or group of components of an entity is disposed of other than by sale.
	The guidance also requires additional disclosures about discontinued operations. The new guidance is effective for all disposals (or classifications as held for sale) of components of an entity that occur within annual periods beginning on or after December 15, 2014, and interim periods within those years. Early adoption is permitted, but only for disposals (or classifications as held for sale) that have not been reported in financial statements previously issued or available for issuance. The Company early adopted the new guidance in the third quarter of 2014. See Note 3 for discontinued operations reported under the new guidance.

Asset_Exchange

Asset Exchange	3 Months Ended
	Mar. 31, 2015
Business Combinations [Abstract]
Asset Exchange	-3	Asset Exchange
	On December 1, 2014, the Company completed an asset exchange with CBS Radio Stations, Inc. (“CBS Radio”) under which the Company agreed to exchange all of the assets used or useful in the operations of WRDW-FM and WXTU-FM in Philadelphia, PA and WKIS-FM, WPOW-FM and WQAM-AM in Miami, FL previously owned and operated by the Company for all of the assets used or useful in the operations of WIP-AM in Philadelphia, PA, WHFS-AM, WHFS-FM, WLLD-FM, WQYK-FM, WRBQ-FM and WYUU-FM in Tampa, FL and WBAV-FM, WBCN-AM, WFNZ-AM, WKQC-FM, WNKS-FM, WPEG-FM and WSOC-FM in Charlotte, NC previously owned and operated by CBS Radio. The asset exchange substantially broadened and diversified the Company’s local radio broadcasting platform and revenue base with fourteen new stations that are geographically complementary to the Company’s ongoing operations, while also presenting financial and operating synergies with the Company’s ongoing station portfolio and digital operations.
	The following pro forma information for the three months ended March 31, 2014 assumes that the asset exchange had occurred on January 1, 2014. This pro forma information has been prepared based on estimates and assumptions, which management believes are reasonable, and is not necessarily indicative of what would have occurred had the asset exchange actually been completed on January 1, 2014 or of results that may occur in the future.
	Net revenue		$	27,033,560
	Operating income			4,293,063
	Net income			727,450
	Basic and diluted net income per share			0.03
	Discontinued Operations
	After completion of the asset exchange, the Company has significantly decreased operations in the Philadelphia, PA radio market and no longer has any operations in the Miami-Fort Lauderdale, FL radio market. Therefore, the results of operations of WRDW-FM, WXTU-FM, WKIS-FM, WPOW-FM and WQAM-AM have been reported as discontinued operations for the three months ended March 31, 2014.
	A summary of discontinued operations is as follows:
	Net revenue		$	11,263,840
	Station operating expenses			7,494,523
	Depreciation and amortization			139,823
	Other (income) expense, net			(1,223	)
	Income from discontinued operations before income taxes			3,630,717
	Income tax expense			1,432,128
	Income from discontinued operations		$	2,198,589
	A summary of operating and investing cash flows of discontinued operations is as follows:
	Cash flows from operating activities:
	Income from discontinued operations		$	2,198,589
	Adjustments to reconcile income from discontinued operations to net cash used in operating activities:
	Provision for bad debts			72,702
	Depreciation and amortization			139,823
	Change in operating assets and liabilities
	Accounts receivable			375,646
	Prepaid expenses			(234,541	)
	Other assets			117,137
	Accounts payable			(231,131	)
	Other liabilities			1,063,223
	Other operating activities			(4,704,996	)
	Net cash used in operating activities		$	(1,203,548	)
	Cash flows from investing activities:
	Capital expenditures		$	(105,998	)
	Repayment of notes receivable from related parties			8,243
	Net cash used in investing activities		$	(97,755	)

FCC_Broadcasting_Licenses

FCC Broadcasting Licenses	3 Months Ended
	Mar. 31, 2015
Text Block [Abstract]
FCC Broadcasting Licenses	-4	FCC Broadcasting Licenses
	The change in the carrying amount of FCC broadcasting licenses for the three months ended March 31, 2015 is as follows:
	Balance as of December 31, 2014		$	234,328,330
	Translator license			190,600
	Balance as of March 31, 2015		$	234,518,930
	On February 27, 2015, the Company completed the acquisition of one FM translator license from Reach Communications, Inc. for $190,600. This translator license allows the Company to rebroadcast the programming of one of its radio stations in Boca Raton, 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.

LongTerm_Debt

Long-Term Debt	3 Months Ended
	Mar. 31, 2015
Debt Disclosure [Abstract]
Long-Term Debt	-5	Long-Term Debt
	Long-term debt is comprised of the following:
			December 31,			March 31,
			2014			2015
	Term loan		$	97,693,750		$	96,193,750
	Revolving credit facility			—			—
				97,693,750			96,193,750
	Less current installments			(3,112,500	)		(2,890,625	)
			$	94,581,250		$	93,303,125
	As of December 31, 2014, the credit facility consisted of a term loan with a remaining balance of $97.7 million and a revolving credit facility with a maximum commitment of $20.0 million. The credit facility carried interest, based on adjusted LIBOR, at 3.4% as of December 31, 2014.
	As of March 31, 2015, the credit facility consisted of a term loan with a remaining balance of $96.2 million and a revolving credit facility with a maximum commitment of $20.0 million. As of March 31, 2015, the Company had $16.6 million in available remaining commitments 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 March 31, 2015 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 June 30, 2015 must not exceed 4.25 times its consolidated operating cash flow for the four quarters then ended. The maximum ratio is 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 March 31, 2015, the maximum amount of undiscounted payments the Company and its applicable subsidiaries would have been required to make in the event of default was $96.2 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 2015 and the next four years are as follows:
	2015		$	1,612,500
	2016			6,390,626
	2017			7,668,752
	2018			8,946,876
	2019			71,574,996
	Total		$	96,193,750
	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 March 31, 2015, the Company was in compliance with all applicable financial covenants under its credit agreement.

StockBased_Compensation

Stock-Based Compensation	3 Months Ended
	Mar. 31, 2015
Disclosure of Compensation Related Costs, Share-based 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 January 1, 2015			271,425		$	8.2
	Granted			185,076			5.2
	Vested			(125,900	)		8.76
	Forfeited			—			—
	Unvested as of March 31, 2015			330,601		$	5.99
	As of March 31, 2015, there was $1.7 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 2.3 years.

Income_Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2015
Income Tax Disclosure [Abstract]
Income Taxes	(7) Income Taxes
	The Company’s effective tax rate was approximately 38% for the three months ended March 31, 2015. This rate differs 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 Company’s effective tax rate for continuing and discontinued operations combined was approximately 78% for the three months ended March 31, 2014. This rate differs 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 increase in the effective tax rate for the three months ended March 31, 2014 as compared to the same period in 2015 also reflects a $1.3 million increase from a change to the Company’s federal tax rate, partially offset by a $0.2 million decrease from a change to the Company’s effective state tax rate.

Related_Party_Transactions

Related Party Transactions	3 Months Ended
	Mar. 31, 2015
Related Party Transactions [Abstract]
Related Party Transactions	-8	Related Party Transactions
	On April 3, 2015, the Company contributed an additional $166,667 to Digital PowerRadio, LLC which maintained its ownership interest at approximately 20% of the outstanding units. The Company may be called upon to make additional pro rata cash contributions to Digital PowerRadio, LLC in the future. 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	3 Months Ended
	Mar. 31, 2015
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 $1.7 million as of March 31, 2015, compared with a fair value of $1.6 million based on current market interest rates. The carrying amount of notes receivable from related parties was $1.7 million as of December 31, 2014, compared with a fair value of $1.7 million based on market rates at that time.
	The carrying amount of long term debt, including the current installments, was $96.2 million as of March 31, 2015 and approximated fair value based on current market interest rates. The carrying amount of long-term debt was $97.7 million as of December 31, 2014 and approximated fair value based on market rates at that time.

Recent_Accounting_Pronouncemen1

Recent Accounting Pronouncements (Policies)	3 Months Ended
	Mar. 31, 2015
Accounting Changes and Error Corrections [Abstract]
Recent Accounting Pronouncements	In April 2015, the FASB issued guidance to simplify presentation of debt issuance costs. The guidance requires debt issuance related to a recognized debt liability to be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability. The new guidance is effective for financial statements issued for fiscal years beginning after December 15, 2015, and interim periods within those fiscal years. Early adoption is permitted for financial statements that have not been previously issued. Upon adoption of the guidance, the Company will present loan fees as a deduction from long-term debt in the balance sheet. Loan fees totaled $1.5 million as of March 31, 2015.
	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. 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 new guidance was originally set to become effective for annual reporting periods beginning after December 15, 2016, including interim periods within that reporting period and early adoption was not permitted. However, on April 29, 2015, the FASB issued for public comment a proposed update that would defer the effective date of the new guidance to annual reporting periods beginning after December 15, 2017, but would allow early adoption for annual reporting periods beginning after December 15, 2016. The Company has not determined the impact of adoption on its financial statements.
	In April 2014, the FASB issued guidance that changes the requirements for reporting discontinued operations. A disposal of a component of an entity or a group of components of an entity is required to be reported in discontinued operations if the disposal represents a strategic shift that has (or will have) a major effect on an entity’s operations and financial results when any of the following occurs:
		1	The component of an entity or group of components of an entity meets the criteria to be classified as held for sale.
		2	The component of an entity or group of components of an entity is disposed of by sale.
		3	The component of an entity or group of components of an entity is disposed of other than by sale.
	The guidance also requires additional disclosures about discontinued operations. The new guidance is effective for all disposals (or classifications as held for sale) of components of an entity that occur within annual periods beginning on or after December 15, 2014, and interim periods within those years. Early adoption is permitted, but only for disposals (or classifications as held for sale) that have not been reported in financial statements previously issued or available for issuance. The Company early adopted the new guidance in the third quarter of 2014. See Note 3 for discontinued operations reported under the new guidance.

Asset_Exchange_Tables

Asset Exchange (Tables)	3 Months Ended
	Mar. 31, 2015
Business Combinations [Abstract]
Summary of Pro forma Information	The following pro forma information for the three months ended March 31, 2014 assumes that the asset exchange had occurred on January 1, 2014. This pro forma information has been prepared based on estimates and assumptions, which management believes are reasonable, and is not necessarily indicative of what would have occurred had the asset exchange actually been completed on January 1, 2014 or of results that may occur in the future.
	Net revenue	$	27,033,560
	Operating income		4,293,063
	Net income		727,450
	Basic and diluted net income per share		0.03
Summary of Discontinued Operations	A summary of discontinued operations is as follows:
	Net revenue	$	11,263,840
	Station operating expenses		7,494,523
	Depreciation and amortization		139,823
	Other (income) expense, net		(1,223	)
	Income from discontinued operations before income taxes		3,630,717
	Income tax expense		1,432,128
	Income from discontinued operations	$	2,198,589
Summary of Operating and Investing Cash Flows of Discontinued Operations	A summary of operating and investing cash flows of discontinued operations is as follows:
	Cash flows from operating activities:
	Income from discontinued operations	$	2,198,589
	Adjustments to reconcile income from discontinued operations to net cash used in operating activities:
	Provision for bad debts		72,702
	Depreciation and amortization		139,823
	Change in operating assets and liabilities
	Accounts receivable		375,646
	Prepaid expenses		(234,541	)
	Other assets		117,137
	Accounts payable		(231,131	)
	Other liabilities		1,063,223
	Other operating activities		(4,704,996	)
	Net cash used in operating activities	$	(1,203,548	)
	Cash flows from investing activities:
	Capital expenditures	$	(105,998	)
	Repayment of notes receivable from related parties		8,243
	Net cash used in investing activities	$	(97,755	)

FCC_Broadcasting_Licenses_Tabl

FCC Broadcasting Licenses (Tables)	3 Months Ended
	Mar. 31, 2015
Text Block [Abstract]
Carrying Amount of Broadcasting Licenses	The change in the carrying amount of FCC broadcasting licenses for the three months ended March 31, 2015 is as follows:
	Balance as of December 31, 2014	$	234,328,330
	Translator license		190,600
	Balance as of March 31, 2015	$	234,518,930

LongTerm_Debt_Tables

Long-Term Debt (Tables)	3 Months Ended
	Mar. 31, 2015
Debt Disclosure [Abstract]
Summary of Long-Term Debt	Long-term debt is comprised of the following:
		December 31,			March 31,
		2014			2015
	Term loan	$	97,693,750		$	96,193,750
	Revolving credit facility		—			—
			97,693,750			96,193,750
	Less current installments		(3,112,500	)		(2,890,625	)
		$	94,581,250		$	93,303,125
Scheduled Repayments of Credit Facility	The aggregate scheduled principal repayments of the credit facility for the remainder of 2015 and the next four years are as follows:
	2015	$	1,612,500
	2016		6,390,626
	2017		7,668,752
	2018		8,946,876
	2019		71,574,996
	Total	$	96,193,750

StockBased_Compensation_Tables

Stock-Based Compensation (Tables)	3 Months Ended
	Mar. 31, 2015
Disclosure of Compensation Related Costs, Share-based 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 January 1, 2015		271,425		$	8.2
	Granted		185,076			5.2
	Vested		(125,900	)		8.76
	Forfeited		—			—
	Unvested as of March 31, 2015		330,601		$	5.99

Asset_Exchange_Additional_Info

Asset Exchange - Additional Information (Detail)	0 Months Ended
	Dec. 01, 2014
	Radio_Stations
Business Combination Increase Decrease To Reflect Liabilities Acquired At Fair Value [Abstract]
Number of radio stations acquired through asset exchange	14

Asset_Exchange_Summary_of_Pro_

Asset Exchange - Summary of Pro forma Information (Detail) (CBS Radio [Member], USD $)	3 Months Ended
	Mar. 31, 2014
CBS Radio [Member]
Business Acquisition [Line Items]
Net revenue	$27,033,560
Operating income	4,293,063
Net income	$727,450
Basic and diluted net income per share	$0.03

Asset_Exchange_Summary_of_Disc

Asset Exchange - Summary of Discontinued Operations (Detail) (USD $)	3 Months Ended
	Mar. 31, 2014
Discontinued Operations and Disposal Groups [Abstract]
Net revenue	$11,263,840
Station operating expenses	7,494,523
Depreciation and amortization	139,823
Other (income) expense, net	-1,223
Income from discontinued operations before income taxes	3,630,717
Income tax expense	1,432,128
Income from discontinued operations	$2,198,589

Asset_Exchange_Summary_of_Oper

Asset Exchange - Summary of Operating and Investing Cash Flows of Discontinued Operations (Detail) (USD $)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Cash flows from operating activities:
Income from discontinued operations		($2,198,589)
Adjustments to reconcile income from discontinued operations to net cash used in operating activities:
Provision for bad debts	62,131	155,649
Depreciation and amortization	1,118,853	466,739
Change in operating assets and liabilities
Accounts receivable	-45,061	1,354,189
Prepaid expenses	-1,494,657	-1,097,448
Other assets	820,121	28,050
Accounts payable	-266,907	-188,102
Other liabilities	-1,398,719	-133,513
Other operating activities	21,022	128,581
Cash flows from investing activities:
Capital expenditures	-462,557	-1,188,683
Repayment of notes receivable from related parties	92,565	98,461
Discontinued Operations [Member]
Cash flows from operating activities:
Income from discontinued operations		2,198,589
Adjustments to reconcile income from discontinued operations to net cash used in operating activities:
Provision for bad debts		72,702
Depreciation and amortization		139,823
Change in operating assets and liabilities
Accounts receivable		375,646
Prepaid expenses		-234,541
Other assets		117,137
Accounts payable		-231,131
Other liabilities		1,063,223
Other operating activities		-4,704,996
Net cash used in operating activities		-1,203,548
Cash flows from investing activities:
Capital expenditures		-105,998
Repayment of notes receivable from related parties		8,243
Net cash used in investing activities		($97,755)

FCC_Broadcasting_Licenses_Carr

FCC Broadcasting Licenses - Carrying Amount of Broadcasting Licenses (Detail) (USD $)	3 Months Ended
	Mar. 31, 2015	Dec. 31, 2014
FCC Broadcasting Licenses [Line Items]
Beginning Balance		$234,328,330
Ending Balance	234,518,930	234,328,330
FCC Broadcasting License [Member]
FCC Broadcasting Licenses [Line Items]
Beginning Balance	234,328,330
Translator license	190,600
Ending Balance	$234,518,930

FCC_Broadcasting_Licenses_Addi

FCC Broadcasting Licenses - Additional Information (Detail) (USD $)	3 Months Ended	0 Months Ended
	Mar. 31, 2015	Feb. 27, 2015
FCC Broadcasting Licenses [Line Items]
Translator licenses renewable term	8 years
Reach Communications, Inc. [Member]
FCC Broadcasting Licenses [Line Items]
Number of translator licenses acquired		1
Acquisition of translator licenses		$190,600

LongTerm_Debt_Summary_of_LongT

Long-Term Debt - Summary of Long-Term Debt (Detail) (USD $)	Mar. 31, 2015	Dec. 31, 2014
Line of Credit Facility [Line Items]
Long-term debt	$96,193,750	$97,693,750
Less current installments	-2,890,625	-3,112,500
Long-term debt, net of current portion	93,303,125	94,581,250
Long-term debt	96,193,750	97,693,750
Term Loan [Member]
Line of Credit Facility [Line Items]
Long-term debt	96,193,750	97,693,750
Long-term debt	96,193,750	97,693,750
Revolving Credit Loan [Member]
Line of Credit Facility [Line Items]
Revolving credit facility	$0	$0

LongTerm_Debt_Additional_Infor

Long-Term Debt - Additional Information (Detail) (USD $)	3 Months Ended
	Mar. 31, 2015	Dec. 31, 2014
Line of Credit Facility [Line Items]
Long-term debt	$96,193,750	$97,693,750
Revolving credit loan and term loan carried interest		3.40%
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.
First Mortgage [Member] | Must Not Be Less Than [Member]
Line of Credit Facility [Line Items]
Interest Coverage Ratio	2
Term Loan [Member]
Line of Credit Facility [Line Items]
Long-term debt	96,193,750	97,693,750
Revolving Credit Loan [Member]
Line of Credit Facility [Line Items]
Revolving credit facility maximum commitment	20,000,000	20,000,000
Remaining commitments under the revolving credit loan facility	16,600,000
June Thirty Two Thousand Fifteen [Member] | First Mortgage [Member] | Must Not Exceed [Member] | Forecast [Member]
Line of Credit Facility [Line Items]
Long-term Debt Covenants Aggregate Leverage Ratio	4.25
July One Two Thousand Fifteen Through December Thirty First Two Thousand Fifteen [Member] | First Mortgage [Member] | Maximum [Member] | Forecast [Member]
Line of Credit Facility [Line Items]
Long-term Debt Covenants Aggregate Leverage Ratio	4
January 1, 2016 through December 31, 2016 [Member] | First Mortgage [Member] | Maximum [Member] | Forecast [Member]
Line of Credit Facility [Line Items]
Long-term Debt Covenants Aggregate Leverage Ratio	3.75
January One Two Thousand Seventeen Through December Thirty First Two Thousand Seventeen [Member] | First Mortgage [Member] | Maximum [Member] | Forecast [Member]
Line of Credit Facility [Line Items]
Long-term Debt Covenants Aggregate Leverage Ratio	3.25
January One Two Thousand Eighteen Through Thereafter [Member] | First Mortgage [Member] | Maximum [Member] | Forecast [Member]
Line of Credit Facility [Line Items]
Long-term Debt Covenants Aggregate Leverage Ratio	3
Credit Facility [Member]
Line of Credit Facility [Line Items]
Long-term debt	$96,193,750
Revolving credit loan and term loan carried interest	3.40%
Revolving credit facility and term loan maturity date	9-Aug-19
Mandatory prepayments of excess cash flow	50.00%
Credit Facility [Member] | Revolving Credit Loan [Member]
Line of Credit Facility [Line Items]
Revolving credit facility, Interest Rate Description	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
Credit Facility [Member] | Revolving Credit Loan [Member] | Maximum [Member] | LIBOR [Member]
Line of Credit Facility [Line Items]
Credit facility interest rate margins	4.75%
Credit Facility [Member] | Revolving Credit Loan [Member] | Maximum [Member] | Base Rate [Member]
Line of Credit Facility [Line Items]
Credit facility interest rate margins	3.75%
Credit Facility [Member] | Revolving Credit Loan [Member] | Minimum [Member] | LIBOR [Member]
Line of Credit Facility [Line Items]
Credit facility interest rate margins	2.75%
Credit Facility [Member] | Revolving Credit Loan [Member] | Minimum [Member] | Base Rate [Member]
Line of Credit Facility [Line Items]
Credit facility interest rate margins	1.75%
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

LongTerm_Debt_Scheduled_Repaym

Long-Term Debt - Scheduled Repayments of Credit Facility (Detail) (USD $)	Mar. 31, 2015	Dec. 31, 2014
Debt Disclosure [Abstract]
2015	$1,612,500
2016	6,390,626
2017	7,668,752
2018	8,946,876
2019	71,574,996
Total	$96,193,750	$97,693,750

StockBased_Compensation_Additi

Stock-Based Compensation - Additional Information (Detail) (2007 Plan [Member], USD $)	3 Months Ended
In Millions, except Share data, unless otherwise specified	Mar. 31, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total unrecognized compensation cost related to restricted stock granted	$1.70
Cost expected to be recognized over a weighted-average period	2 years 3 months 18 days
Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock awards, vest, period	1 year
Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock awards, vest, period	5 years
Class A Common Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares authorized	4,000,000

StockBased_Compensation_Restri

Stock-Based Compensation - Restricted Stock Activity (Detail) (2007 Plan [Member], USD $)	3 Months Ended
	Mar. 31, 2015
2007 Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unvested Shares, Beginning Balance	271,425
Granted, Shares	185,076
Vested, Shares	-125,900
Forfeited, Shares	0
Unvested Shares, Ending Balance	330,601
Unvested, Weighted-Average Grant-Date Fair Value, Beginning Balance	$8.20
Granted, Weighted-Average Grant-Date Fair Value	$5.20
Vested, Weighted-Average Grant-Date Fair Value	$8.76
Forfeited, Weighted-Average Grant-Date Fair Value	$0
Unvested, Weighted-Average Grant-Date Fair Value, Ending Balance	$5.99

Income_Taxes_Additional_Inform

Income Taxes - Additional Information (Detail) (USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Income Tax Disclosure [Abstract]
Effective tax rate	38.00%	78.00%
Federal statutory rate	35.00%	35.00%
Increase from a change to the Company's federal tax rate based on a projected increase in taxable income		$1.30
Decrease from a change to the Company's effective state tax rate		($0.20)

Related_Party_Transactions_Add

Related Party Transactions - Additional Information (Detail) (Digital PowerRadio LLC [Member], Subsequent Event [Member], USD $)	0 Months Ended
	Apr. 03, 2015	Apr. 03, 2015
Digital PowerRadio LLC [Member] | Subsequent Event [Member]
Related Party Transaction [Line Items]
Additional contribution to related party	$166,667
Percentage of outstanding units ownership interest to Digital PowerRadio	20.00%	20.00%

Financial_Instruments_Addition

Financial Instruments - Additional Information (Detail) (USD $)	Mar. 31, 2015	Dec. 31, 2014
Debt Instrument Fair Value Carrying Value [Abstract]
Percentage of fixed rate of interest carrying amount of notes receivables	2.57%
Notes receivable from related parties	$1,655,527	$1,748,092
Fair value of notes receivable	1,600,000	1,700,000
Long-term debt	$96,193,750	$97,693,750