Beasley Broadcast (BBGI) 10-Q 7 Aug 17 2017 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2017	Jul. 31, 2017
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q2
Trading Symbol	BBGI
Entity Registrant Name	BEASLEY BROADCAST GROUP INC
Entity Central Index Key	1,099,160
Current Fiscal Year End Date	--12-31
Entity Filer Category	Smaller Reporting Company
Class A Common Stock [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		12,125,514
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 ($)	Jun. 30, 2017	Dec. 31, 2016
Current assets:
Cash and cash equivalents	$ 17,047,364	$ 20,325,415
Accounts receivable, less allowance for doubtful accounts of $1,537,353 in 2016 and $1,479,881 in 2017	44,535,497	48,186,463
Prepaid expenses	7,133,736	4,909,799
Merger consideration receivable	13,019,527	7,877,577
Beneficial interest in trust		19,947,261
Other current assets	1,813,621	2,172,892
Total current assets	83,549,745	103,419,407
Property and equipment, net	59,128,512	60,166,812
FCC broadcasting licenses	477,977,719	476,571,140
Goodwill	3,393,234	3,393,234
Other intangibles, net	410,544	535,582
Assets held for sale		11,320,286
Other assets	6,015,105	6,263,587
Total assets	630,474,859	661,670,048
Current liabilities:
Current installments of long-term debt	62,548	6,686,077
Accounts payable	8,535,820	6,087,436
Other current liabilities	18,780,156	21,173,419
Total current liabilities	27,378,524	33,946,932
Due to related parties	807,397	855,753
Long-term debt, net of current installments and unamortized debt issuance costs	212,378,777	247,692,171
Deferred tax liabilities	164,071,650	160,539,268
Other long-term liabilities	14,119,111	16,144,301
Total liabilities	418,755,459	459,178,425
Commitments and contingencies
Stockholders' equity:
Preferred stock, $0.001 par value; 10,000,000 shares authorized; none issued
Additional paid-in capital	147,311,622	146,339,925
Treasury stock, Class A common stock; 2,937,987 shares in 2016; 2,984,640 shares in 2017	(16,038,023)	(15,560,021)
Retained earnings	81,222,733	72,401,766
Accumulated other comprehensive loss	(808,705)	(721,822)
Total stockholders' equity	211,719,400	202,491,623
Total liabilities and stockholders' equity	630,474,859	661,670,048
Class A Common Stock [Member]
Stockholders' equity:
Common stock	15,111	15,113
Class B Common Stock [Member]
Stockholders' equity:
Common stock	$ 16,662	$ 16,662

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($)	Jun. 30, 2017	Dec. 31, 2016
Allowance for doubtful accounts	$ 1,479,881	$ 1,537,353
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, shares issued	0	0
Treasury stock, Class A common stock shares	2,984,640	2,937,987
Class A Common Stock [Member]
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	150,000,000	150,000,000
Common stock, shares issued	15,110,779	15,112,529
Common stock, shares outstanding	12,126,139	12,174,542
Class B Common Stock [Member]
Common stock, par value	$ 0.001	$ 0.001
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 Statemen

Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Income Statement [Abstract]
Net revenue	$ 61,013,414	$ 27,777,381	$ 114,753,965	$ 55,232,328
Operating expenses:
Station operating expenses (including stock-based compensation of $36,412 and $54,668 in three months ended June 30, 2016 and 2017 and $72,824 and $133,715 in six months ended June 30, 2016 and 2017 and excluding depreciation and amortization shown separately below)	44,912,998	19,729,821	88,862,592	39,716,112
Corporate general and administrative expenses (including stock-based compensation of $168,962 and $719,288 in three months ended June 30, 2016 and 2017 and $367,856 and $837,980 in six months ended June 30, 2016 and 2017)	4,488,482	2,443,661	7,718,579	4,944,618
Merger and disposition expenses	295,237		746,070
Other operating expenses	252,915		581,162
Depreciation and amortization	1,619,642	830,581	3,122,479	1,669,987
Gain on dispositions, net	(3,977,449)		(3,707,993)
Change in fair value of contingent consideration	2,391,342		(5,141,950)
Termination of postretirement benefits plan	(1,812,448)		(1,812,448)
Total operating expenses	48,170,719	23,004,063	90,368,491	46,330,717
Operating income	12,842,695	4,773,318	24,385,474	8,901,611
Non-operating income (expense):
Interest expense	(4,752,044)	(898,560)	(9,579,383)	(1,887,084)
Other income (expense), net	39,519	269,052	395,717	229,411
Income before income taxes	8,130,170	4,143,810	15,201,808	7,243,938
Income tax expense	4,224,649	1,674,332	3,809,791	2,953,707
Net income	3,905,521	2,469,478	11,392,017	4,290,231
Other comprehensive income:
Unrealized losses on securities (net of income tax benefit of $8,626 and $6,537 in three months ended June 30, 2016 and 2017 and $30,318 and $15,737 in six months ended June 30, 2016 and 2017)	(10,071)	(14,080)	(24,245)	(49,487)
Unrecognized actuarial losses on postretirement plans (net of income tax benefit of $40,697 in three and six months ended June 30, 2017	(62,699)		(62,699)
Comprehensive income	$ 3,832,751	$ 2,455,398	$ 11,305,073	$ 4,240,744
Net income per Class A and B common share:
Basic and diluted	$ 0.14	$ 0.11	$ 0.41	$ 0.19
Dividends declared per common share	$ 0.045	$ 0.045	$ 0.09	$ 0.09
Weighted average shares outstanding:
Basic	27,701,278	23,023,401	27,682,302	23,003,436
Diluted	27,874,221	23,119,431	27,846,182	23,089,039

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Comprehensive Income (Unaudited) (Parenthetical) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Stock-based compensation			$ 971,695	$ 440,680
Unrealized losses on securities, income tax benefit	$ (6,537)	$ (8,626)	(15,737)	(30,318)
Unrecognized actuarial losses on postretirement plans, income tax benefit	(40,697)		(40,697)
Station Operating Expenses [Member]
Stock-based compensation	54,668	36,412	133,715	72,824
Corporate General and Administrative Expenses [Member]
Stock-based compensation	$ 719,288	$ 168,962	$ 837,980	$ 367,856

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Cash Flows (Unaudited)	3 Months Ended	6 Months Ended
	Jun. 30, 2017USD ($)	Jun. 30, 2017USD ($)	Jun. 30, 2016USD ($)
Cash flows from operating activities:
Net income	$ 3,905,521	$ 11,392,017	$ 4,290,231
Adjustments to reconcile net income to net cash provided by operating activities:
Stock-based compensation		971,695	440,680
Provision for bad debts		781,307	452,528
Depreciation and amortization	1,619,642	3,122,479	1,669,987
Gain on dispositions, net	(3,977,449)	(3,707,993)
Change in fair value of contingent consideration	2,391,342	(5,141,950)
Termination of postretirement benefits plan	(1,812,448)	(1,812,448)
Amortization of loan fees		1,093,616	183,498
Deferred income taxes		3,445,499	1,358,994
Change in operating assets and liabilities:
Accounts receivable		2,869,659	449,326
Prepaid expenses		(2,223,937)	(1,865,934)
Other assets		787,852	(30,394)
Accounts payable		2,448,384	293,643
Other liabilities		(3,371,828)	1,569,439
Other operating activities		2,070	33,053
Net cash provided by operating activities		10,656,422	8,845,051
Cash flows from investing activities:
Change in restricted cash			743,195
Capital expenditures		(1,601,007)	(1,368,840)
Proceeds from dispositions of radio stations		35,000,000
Payments for translator licenses		(1,109,103)
Payments for investments			(166,667)
Loan to related party		(150,000)
Net cash provided by (used in) investing activities		32,139,890	(792,312)
Cash flows from financing activities:
Payments on debt		(43,030,539)	(6,029,133)
Dividends paid		(2,565,822)	(2,068,435)
Purchase of treasury stock		(478,002)	(152,213)
Net cash used in financing activities		(46,074,363)	(8,249,781)
Net decrease in cash and cash equivalents		(3,278,051)	(197,042)
Cash and cash equivalents at beginning of period		20,325,415	14,318,494
Cash and cash equivalents at end of period	17,047,364	17,047,364	14,121,452
Cash paid for interest		8,544,760	1,721,457
Cash paid for income taxes		1,709,975	2,555,650
Supplement disclosure of non-cash investing and financing activities:
Dividends declared but unpaid	$ 1,285,638	1,285,638	$ 1,036,088
Translator license and equipment received as consideration		$ 332,000

Interim Financial Statements

Interim Financial Statements	6 Months Ended
	Jun. 30, 2017
Organization, Consolidation and Presentation of Financial Statements [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, 2016. 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 Pronouncement

Recent Accounting Pronouncements	6 Months Ended
	Jun. 30, 2017
Accounting Changes and Error Corrections [Abstract]
Recent Accounting Pronouncements	(2) Recent Accounting Pronouncements In March 2017, the Financial Accounting Standards Board (“FASB”) issued guidance to improve the presentation of net periodic pension cost and net periodic postretirement benefit cost. The new guidance is effective for annual periods beginning after December 15, 2017. The Company is currently in the process of reviewing the new guidance, but its preliminary assessment, which is subject to change, is that the new guidance will not result in a significant impact on its financial statements. In January 2017, the FASB issued guidance to simplify goodwill impairment testing by eliminating step two from the goodwill impairment test. Under the new guidance, an entity still has the option to perform the qualitative assessment of a reporting unit to determine if the quantitative impairment test is necessary. Under the new guidance an entity should perform its annual, or interim, goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount. An entity should recognize an impairment charge for the amount by which the carrying amount exceeds the reporting unit’s fair value; however, the loss recognized should not exceed the total amount of goodwill allocated to that reporting unit. The new guidance is effective for fiscal years beginning after December 15, 2019. Early adoption is permitted for interim or annual goodwill impairment tests performed after January 1, 2017. The Company adopted the new guidance on a prospective basis in the first quarter of 2017 with no current impact on its financial statements. In August 2016, the FASB issued guidance to reduce diversity in practice in how certain cash receipts and cash payments are presented and classified in the statement of cash flows. The new guidance is effective for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years, with early adoption permitted. The Company is currently in the process of reviewing the new guidance, but its preliminary assessment, which is subject to change, is that the new guidance will not result in a significant impact on its financial statements. In March 2016, the FASB issued guidance to improve several aspects of the accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. The new guidance is effective for annual periods beginning after December 15, 2016 and interim periods within those annual periods. The Company adopted the new guidance in the first quarter of 2017 with no material impact on its financial statements. In February 2016, the FASB issued guidance to increase transparency and comparability among organizations by recognizing lease assets and lease liabilities on the balance sheet and disclosing key information about leasing arrangements. A lessee should recognize in the statement of financial position a liability to make lease payments (the lease liability) and a right-of-use asset representing its right to use the underlying asset for the lease term. There continues to be a differentiation between finance leases and operating leases, however lease assets and lease liabilities arising from operating leases should now be recognized in the statement of financial position. New disclosures are required to meet the objective of enabling users of financial statements to assess the amount, timing, and uncertainty of cash flows arising from leases. The new guidance is effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. The Company continues to review the new guidance and is currently researching lease management software. The Company expects the new guidance to result in a significant impact on the balance sheet, however that impact will not be quantified until closer to the adoption date. The Company does not expect the new guidance to have a significant impact on the statement of comprehensive income. In January 2016, the FASB issued guidance that changes how entities measure equity investments and present changes in the fair value of financial liabilities. The new guidance requires entities to measure equity investments that do not result in consolidation and are not accounted for under the equity method at fair value and recognize any changes in fair value in net income unless the investments qualify for the new practicality exception. A practicality exception will apply to those equity investments that do not have a readily determinable fair value and do not qualify for the practical expedient to estimate fair value, and as such, these investments may be measured at cost. The new guidance is effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. The Company continues to review the new guidance, but its preliminary assessment, which is subject to change, is that the new guidance will not result in a significant impact on its financial statements. In September 2015, the FASB issued guidance that modified accounting for business combinations to reflect measurement period adjustments to be recorded prospectively rather than retroactively to the assets and liabilities initially recorded under purchase price accounting. The guidance, which was effective as of January 1, 2016, did not have a material impact on the Company’s financial statements at the time of adoption. During the first quarter of 2017, the Company accounted for measurement period adjustments on a prospective basis. See Note 3 for further information. 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. In 2016, the FASB issued several updates to address implementation issues and to clarify guidance for principal versus agent considerations and identifying performance obligations and licensing. 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. In August 2015, the FASB delayed the effective date of the new guidance to annual reporting periods beginning after December 15, 2017, including interim periods within that reporting period. Early adoption is now permitted after the original effective date of December 15, 2016. The Company plans to adopt the new guidance on January 1, 2018. The Company continues to review the impact of the new guidance on its revenue streams and its initial assessment is that the new guidance will not result in a significant impact on its financial statements. The Company preliminarily plans to adopt the new guidance using the modified retrospective application method.

Acquisitions and Dispositions

Acquisitions and Dispositions	6 Months Ended
	Jun. 30, 2017
Business Combinations [Abstract]
Acquisitions and Dispositions	(3) Acquisitions and Dispositions Greater Media Merger On November 1, 2016, (the “Acquisition Date”), the Company completed the acquisition of Greater Media, Inc. (“Greater Media”), pursuant to the merger agreement, dated as of July 19, 2016 by and among the Company, Greater Media, Beasley Media Group 2, Inc., an indirect wholly-owned subsidiary of the Company (“Merger Sub”), and Peter A. Bordes, Jr., as the Stockholders’ Representative (the “Merger Agreement”). On the Closing Date, Merger Sub was merged with and into Greater Media, with Greater Media surviving the merger as an indirect wholly-owned subsidiary of the Company (the “Merger”). As a result of the Merger, the Company added 21 radio stations in the Boston, MA, Detroit, MI, Charlotte, NC, Middlesex, NJ, Monmouth, NJ, Morristown, NJ and Philadelphia, PA markets. Pursuant to the terms of the Merger Agreement, at the effective time of the Merger, the Company acquired all of the issued and outstanding common stock of Greater Media for an aggregate purchase price of $239,875,000, subject to a purchase price adjustment related to the sale of Greater Media’s tower assets and other customary post-closing purchase price adjustments and inclusive of the repayment of $82.2 million of Greater Media’s outstanding debt and the payment of certain transaction expenses. The proceeds paid to the stockholders of Greater Media consisted of (i) $94.4 million in cash and (ii) $25.0 million in shares of the Company’s Class A common stock, which equaled 5,422,993 shares at a fixed value of $4.61 per share (the “Merger Shares”). The 5,422,993 shares of Class A common stock were recorded at a fair value of $4.80 per share or $26.0 million on the Acquisition Date. The Merger consideration is subject to adjustment for changes in working capital of Greater Media, outstanding debt of Greater Media and its subsidiaries as of the date of the closing and certain other payments and expenses. Additional Merger Shares may be issued in connection with such adjustment. In addition, the stockholders of Greater Media will receive the net cash proceeds from the sale of Greater Media’s tower assets, originally estimated to be approximately $24.0 million. Merger expenses of $0.5 million are reported in merger and disposition expenses in the consolidated statement of comprehensive income for the six months ended June 30, 2017. The acquisition was accounted for as a business combination. The preliminary purchase price allocations are based on a preliminary valuation of assets and liabilities and the estimates and assumptions are subject to change as the Company obtains additional information during the measurement period, which may be up to one year from the Acquisition Date. The Company has engaged a third party to evaluate certain net operating loss carryforwards related to Greater Media, Inc. and several of its subsidiaries to determine the amount of net operating loss carryforwards that may be utilized by the Company in future tax returns. These evaluations have not been finalized, therefore an estimate of $3.6 million for net operating loss carryforwards has been included in the preliminary purchase price. The accounting for this item is preliminary and will be adjusted once finalized during the measurement period. On the Acquisition Date, in accordance with the Merger Agreement, the Company placed 867,679 shares of Class A common stock with a fair value of $4.2 million in escrow. Some or all of these shares could be released to Greater Media based upon a working capital adjustment which may not be finalized until the third quarter of 2017. The Company’s estimate of the working capital adjustment as of the Acquisition Date, results in 189,915 shares of Class A common stock being released to Greater Media. The unreleased shares in escrow will be canceled by the Company. The forfeited shares are not indexed to the Company’s stock and therefore are adjusted to fair value based on the Company’s closing stock price on each reporting date with changes in fair value recorded in earnings. The estimated number of shares to be released to Greater Media had a fair value of $0.9 million as of the Acquisition Date and have been included in the preliminary purchase price. The estimated number of shares to be forfeited had a fair value of $3.3 million as of the Acquisition Date and have been reported as a merger consideration receivable in the accompanying consolidated balance sheet. The Company reassessed the fair value of the estimated number of shares to be forfeited and recorded a $1.2 million decrease in fair value of the contingent consideration for the three months ended June 30, 2017 and a $2.5 million increase in fair value for the six months ended June 30, 2017. The final purchase price will include the fair value of the forfeited shares as of the settlement date of the working capital adjustment. The accounting for this item is preliminary and will be adjusted once finalized during the measurement period. In accordance with the Merger Agreement, the purchase price will be adjusted by certain proceeds from the sale of Greater Media’s towers assets. Based on the proceeds from the tower sale, the former stockholders of Greater Media will return a certain number of shares of Class A common stock that will be canceled by the Company. The Company has accounted for this arrangement as contingent consideration subject to the ultimate sale of the tower assets. As of the Acquisition Date, the Company estimated the sales price of the towers to be $28.0 million which resulted in the expected return of 650,759 shares. As of the Acquisition Date, the estimated number of shares to be returned had a fair value of $3.4 million based on a stock price of $5.16 and have been reported as a merger consideration receivable in the accompanying consolidated balance sheet. On February 27, 2017, the former stockholders of Greater Media entered into an asset purchase agreement to sell the towers for $28.0 million. As of June 30, 2017, the estimated number of shares to be returned had a fair value of $6.4 million based on a stock price of $9.80. The Company recorded a $1.2 million decrease in fair value of the contingent consideration for the three months ended June 30, 2017 and a $2.6 million increase in fair value for the six months ended June 30, 2017. The number of returned shares may be revised due to a change in the estimated net proceeds from the tower sale. The accounting for this item is preliminary and will be adjusted once finalized during the measurement period. The following table summarizes the preliminary purchase price allocation as of the Acquisition Date: Cash and cash equivalents $ 7,683,950 Accounts receivable 29,889,677 Prepaid expenses 1,710,924 Other current assets 541,460 Property and equipment 40,642,648 FCC broadcasting licenses 263,260,200 Other intangibles, net 2,790,524 Other assets 676,632 Accounts payable (429,042 ) Other current liabilities (16,685,309 ) Long-term debt (82,177,895 ) Deferred tax liabilities (76,050,112 ) Other long-term liabilities (13,709,261 ) Net assets acquired 158,144,396 Gain on merger (44,281,066 ) Preliminary purchase price $ 113,863,330 The following table summarizes the components of the preliminary purchase price: Cash $ 94,444,148 Stock issued 21,865,506 Estimated tower sale adjustment (3,357,916 ) Stock issued in escrow 4,164,859 Estimated working capital adjustment (3,253,267 ) Preliminary purchase price $ 113,863,330 Effective on the Acquisition Date, the Company entered into an agreement with the former CEO of Greater Media to provide consulting services for a period of one year. The costs associated with this agreement are reported in other operating expenses in the accompanying statement of comprehensive income for the three and six months ended June 30, 2017. The following unaudited pro forma information for the three and six months ended June 30, 2016 assumes that the merger had occurred on January 1, 2016. The significant pro forma adjustments are depreciation and interest expense. This unaudited 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 acquisition been completed on January 1, 2016 or of results that may occur in the future. Three months June 30, 2016 Six months ended June 30, 2016 Net revenue $ 62,549,516 $ 118,024,368 Operating income 9,094,400 14,806,388 Net income 2,716,788 3,381,133 Basic and diluted net income per share 0.10 0.12 Dispositions On January 6, 2017, the Company completed the sale of substantially all of the assets used or useful in the operations of WBT-AM, WBT-FM, WFNZ-AM and WLNK-FM in Charlotte, NC to Entercom Communications Corp. for $24.0 million in cash. On November 1, 2016, the assets of WBT-AM, WBT-FM and WLNK-FM were contributed to a trust following completion of the Company’s acquisition of Greater Media and were operated by Entercom under a local marketing agreement until completion of the sale. The assets of WBT-AM, WBT-FM and WLNK-FM were reported as a beneficial interest in trust as of December 31, 2016 that was realized upon completion of the sale. The Company repaid a portion of the outstanding balance under its credit facility with the sales proceeds. The Company recorded a $0.3 million loss on disposition during the first quarter of 2017. On May 1, 2017, the Company completed the sale of substantially all of the assets used in the operations of WIKS-FM, WMGV-FM, WNCT-AM, WNCT-FM, WSFL-FM and WXNR-FM in its Greenville-New Bern-Jacksonville, NC market cluster to CMG Coastal Carolina, LLC for $11.0 million in cash and a translator license and equipment with a fair value of $0.3 million. The Company repaid a portion of the outstanding balance under its credit facility with the cash sales proceeds. The Company no longer has operations in the Greenville-New Bern-Jacksonville, NC market after completion of the disposition. However management determined that the disposition did not represent a strategic shift that will have a major effect on the Company’s operations and financial results, therefore the operations in the Greenville-New Bern-Jacksonville, NC market were not reported as discontinued operations. Income before taxes for the radio stations in the Greenville-New Bern-Jacksonville, NC market was $0.5 million and $0.3 million for the three and six months ended June 30, 2016, respectively. Income before the gain on disposition of $4.0 million, other disposition related expenses of $0.3 million, and taxes for the radio stations in the Greenville-New Bern-Jacksonville, NC market was $0.1 million and approximately $20,000 for the three and six months ended June 30, 2017, respectively. The assets of WIKS-FM, WMGV-FM, WNCT-AM, WNCT-FM, WSFL-FM and WXNR-FM were reported as held for sale as of December 31, 2016. The Company recorded a $4.0 million gain on disposition during the second quarter of 2017. A summary of assets held for sale as of December 31, 2016 is as follows: WFNZ-AM New Bern Total Property and equipment, net $ 1,702,847 $ 1,400,615 $ 3,103,462 FCC broadcasting licenses 2,166,400 3,998,940 6,165,340 Goodwill — 1,943,349 1,943,349 Other intangibles 108,135 — 108,135 $ 3,977,382 $ 7,342,904 $ 11,320,286

Long-Term Debt

Long-Term Debt	6 Months Ended
	Jun. 30, 2017
Debt Disclosure [Abstract]
Long-Term Debt	(4) Long-Term Debt Long-term debt is comprised of the following: December 31, June 30, 2016 2017 Term loan $ 265,000,000 $ 222,000,000 Revolving credit facility 3,000,000 3,000,000 Capital lease obligations 691,951 661,412 268,691,951 225,661,412 Less unamortized debt issuance costs (14,313,703 ) (13,220,087 ) 254,378,248 212,441,325 Less current installments (6,686,077 ) (62,548 ) $ 247,692,171 $ 212,378,777 As of June 30, 2017, the credit facility consisted of a term loan with a remaining balance of $222.0 million and a revolving credit facility with an outstanding balance of $3.0 million and a maximum commitment of $20.0 million. As of June 30, 2017, the Company had $17.0 million in available commitments under its revolving credit facility. At the Company’s option, the credit facility may bear interest at either (i) the London Interbank Offered Rate (“LIBOR”) plus a margin 6.0% or (ii) the base rate plus a margin of 5.0%. Each margin will decrease 0.25% when the Company’s First Lien Leverage Ratio (as defined in the credit agreement) is equal or less than 3.75x. The LIBOR interest rate for the term loan is subject to a 1% floor. Interest payments for loans based on LIBOR are due at the end of each applicable interest period unless the interest period is longer than three months, then they are due at the end of each three month period. Interest payments for loans based on the base rate are due quarterly. The revolving credit facility carried interest, based on LIBOR, at 7.2% as of June 30, 2017 and matures on November 1, 2021. The term loan carried interest, based on LIBOR, at 7.2% as of June 30, 2017 and matures on November 1, 2023. As of December 31, 2016, the credit facility consisted of a term loan with a remaining balance of $265.0 million and a revolving credit facility with an outstanding balance of $3.0 million and a maximum commitment of $20.0 million. The revolving credit facility carried interest, based on LIBOR, at 6.8% as of December 31, 2016. The term loan carried interest, based on LIBOR, at 7.0% as of December 31, 2016. Commencing with the year ending December 31, 2017, the credit agreement requires mandatory prepayments equal to 75% of Excess Cash Flow (as defined in the credit agreement) when the Company’s Total Leverage Ratio (as defined in the credit agreement) is greater than 3.75x; mandatory prepayments equal to 50% of Excess Cash Flow when the Company’s Total Leverage Ratio is less than or equal to 3.75x and greater than 3.5x; mandatory prepayments equal to 25% of Excess Cash Flow when the Company’s Total Leverage Ratio is less than or equal to 3.5x and greater than 3.0x; and no mandatory prepayments when the Company’s Total Leverage Ratio is less than or equal to 3.0x. Mandatory prepayments of consolidated Excess Cash Flow are due 105 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 a First Lien Leverage Ratio that will be tested at the end of each quarter. For the period from June 30, 2017 through March 31, 2018, the maximum First Lien Leverage Ratio is 6.25x. For the period from June 30, 2018 through September 30, 2018, the maximum First Lien Leverage Ratio is 6.0x. For the period from December 31, 2018 through September 30, 2019, the maximum First Lien Leverage Ratio is 5.75x. The maximum First Lien Leverage Ratio is 5.25x for December 31, 2019 and thereafter. The credit facility is secured by substantially all assets of the Company and its subsidiaries and is guaranteed jointly and severally by the Company and its subsidiaries. If the Company defaults under the terms of the credit agreement, the Company and its subsidiaries may be required to perform under their guarantees. As of June 30, 2017, the maximum amount of undiscounted payments the Company and its applicable subsidiaries would have been required to make in the event of default was $225.0 million. The revolving credit facility and the guarantees related thereto expire on November 1, 2021 and the term loan credit agreement and the guarantees related thereto expire on November 1, 2023. Failure to comply with financial covenants, scheduled interest payments, scheduled principal repayments, or any other terms of our credit agreement could result in the acceleration of the maturity of our outstanding debt, which could have a material adverse effect on our business or results of operations. As of June 30, 2017, the Company was in compliance with all applicable financial covenants under its credit agreement. The aggregate scheduled principal repayments of the credit facility and capital lease obligations for the remainder of 2017, the next four years and thereafter are as follows: 2017 $ 30,538 2018 64,020 2019 67,101 2020 70,326 2021 10,073,700 Thereafter 215,355,727 Total $ 225,661,412

Employee Benefit Plans

Employee Benefit Plans	6 Months Ended
	Jun. 30, 2017
Postemployment Benefits [Abstract]
Employee Benefit Plans	(5) Employee Benefit Plans On November 1, 2016, the Company assumed the frozen Greater Media postretirement medical and life insurance benefits plan. The $1.8 million liability related to the plan is reported in other long-term liabilities in the consolidated balance sheet as of December 31, 2016. Effective May 31, 2017, the Company terminated the postretirement medical and life insurance benefits plan and reversed the accrued liability of $1.8 million which is reported on a separate line in the consolidated statements of comprehensive income for the three and six months ended June 30, 2017.

Stock-Based Compensation

Stock-Based Compensation	6 Months Ended
	Jun. 30, 2017
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 7.5 million shares of Class A common stock. The 2007 Plan allows for eligible employees, directors and certain consultants of the Company to receive restricted stock units, shares of restricted stock, stock options or other stock-based awards. The restricted stock units and 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 unit activity under the 2007 Plan for the three months ended June 30, 2017 is as follows: Units Weighted- Grant-Date Unvested as of April 1, 2017 43,792 $ 9.30 Granted 432,000 10.65 Vested — — Forfeited — — Unvested as of June 30, 2017 475,792 $ 10.53 A summary of restricted stock activity under the 2007 Plan for the three months ended June 30, 2017 is as follows: Shares Weighted- Grant-Date Unvested as of April 1, 2017 229,602 $ 4.76 Granted — — Vested (6,700 ) 7.27 Forfeited (3,750 ) 7.87 Unvested as of June 30, 2017 219,152 $ 5.51 As of June 30, 2017, there was an aggregate $5.1 million of unrecognized compensation cost related to restricted stock units and shares of restricted stock granted under the 2007 Plan. That cost is expected to be recognized over a weighted-average period of 2.7 years.

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2017
Income Tax Disclosure [Abstract]
Income Taxes	(7) Income Taxes The Company’s effective tax rate was approximately 52% and 25% for the three and six months ended June 30, 2017, respectively, and approximately 40% and 41% for the three and six months ended June 30, 2016, 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 also reflects a $0.9 million increase and a $2.0 million decrease due to the change in fair value of contingent consideration for the three and six months ended June 30, 2017, respectively.

Related Party Transactions

Related Party Transactions	6 Months Ended
	Jun. 30, 2017
Related Party Transactions [Abstract]
Related Party Transactions	(8) Related Party Transactions On February 22, 2017, the Company contributed $150,000 to LN2 DB, LLC (formerly Digital PowerRadio, LLC) in exchange for a note bearing interest at 18% per annum. Principal and accrued interest are due on the maturity date of December 31, 2019. LN2 DB, LLC is managed by Fowler Radio Group, LLC which is partially-owned by Mark S. Fowler, an independent director of Beasley Broadcast Group, Inc.

Financial Instruments

Financial Instruments	6 Months Ended
	Jun. 30, 2017
Investments, All Other Investments [Abstract]
Financial Instruments	(9) Financial Instruments The carrying amount of the Company’s financial instruments including cash and cash equivalents, accounts receivable and accounts payable approximate fair value due to the short term nature of these financial instruments. The carrying amount of the Company’s long-term debt, including the term loan, the revolving credit facility, capital lease obligations and current installments, as of June 30, 2017 was $225.0 million which approximated fair value based on current market interest rates. The carrying amount of the Company’s term loan as of December 31, 2016 was $265.0 million. The Company estimated the fair value of the term loan to be $268.5 million using observable inputs (Level 2). The carrying amount of the Company’s revolving credit facility and capital lease obligations as of December 31, 2016 was $3.7 million which approximated fair value based on current market interest rates.

Recent Accounting Pronounceme16

Recent Accounting Pronouncements (Policies)	6 Months Ended
	Jun. 30, 2017
Accounting Changes and Error Corrections [Abstract]
Recent Accounting Pronouncements	In March 2017, the Financial Accounting Standards Board (“FASB”) issued guidance to improve the presentation of net periodic pension cost and net periodic postretirement benefit cost. The new guidance is effective for annual periods beginning after December 15, 2017. The Company is currently in the process of reviewing the new guidance, but its preliminary assessment, which is subject to change, is that the new guidance will not result in a significant impact on its financial statements. In January 2017, the FASB issued guidance to simplify goodwill impairment testing by eliminating step two from the goodwill impairment test. Under the new guidance, an entity still has the option to perform the qualitative assessment of a reporting unit to determine if the quantitative impairment test is necessary. Under the new guidance an entity should perform its annual, or interim, goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount. An entity should recognize an impairment charge for the amount by which the carrying amount exceeds the reporting unit’s fair value; however, the loss recognized should not exceed the total amount of goodwill allocated to that reporting unit. The new guidance is effective for fiscal years beginning after December 15, 2019. Early adoption is permitted for interim or annual goodwill impairment tests performed after January 1, 2017. The Company adopted the new guidance on a prospective basis in the first quarter of 2017 with no current impact on its financial statements. In August 2016, the FASB issued guidance to reduce diversity in practice in how certain cash receipts and cash payments are presented and classified in the statement of cash flows. The new guidance is effective for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years, with early adoption permitted. The Company is currently in the process of reviewing the new guidance, but its preliminary assessment, which is subject to change, is that the new guidance will not result in a significant impact on its financial statements. In March 2016, the FASB issued guidance to improve several aspects of the accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. The new guidance is effective for annual periods beginning after December 15, 2016 and interim periods within those annual periods. The Company adopted the new guidance in the first quarter of 2017 with no material impact on its financial statements. In February 2016, the FASB issued guidance to increase transparency and comparability among organizations by recognizing lease assets and lease liabilities on the balance sheet and disclosing key information about leasing arrangements. A lessee should recognize in the statement of financial position a liability to make lease payments (the lease liability) and a right-of-use asset representing its right to use the underlying asset for the lease term. There continues to be a differentiation between finance leases and operating leases, however lease assets and lease liabilities arising from operating leases should now be recognized in the statement of financial position. New disclosures are required to meet the objective of enabling users of financial statements to assess the amount, timing, and uncertainty of cash flows arising from leases. The new guidance is effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. The Company continues to review the new guidance and is currently researching lease management software. The Company expects the new guidance to result in a significant impact on the balance sheet, however that impact will not be quantified until closer to the adoption date. The Company does not expect the new guidance to have a significant impact on the statement of comprehensive income. In January 2016, the FASB issued guidance that changes how entities measure equity investments and present changes in the fair value of financial liabilities. The new guidance requires entities to measure equity investments that do not result in consolidation and are not accounted for under the equity method at fair value and recognize any changes in fair value in net income unless the investments qualify for the new practicality exception. A practicality exception will apply to those equity investments that do not have a readily determinable fair value and do not qualify for the practical expedient to estimate fair value, and as such, these investments may be measured at cost. The new guidance is effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. The Company continues to review the new guidance, but its preliminary assessment, which is subject to change, is that the new guidance will not result in a significant impact on its financial statements. In September 2015, the FASB issued guidance that modified accounting for business combinations to reflect measurement period adjustments to be recorded prospectively rather than retroactively to the assets and liabilities initially recorded under purchase price accounting. The guidance, which was effective as of January 1, 2016, did not have a material impact on the Company’s financial statements at the time of adoption. During the first quarter of 2017, the Company accounted for measurement period adjustments on a prospective basis. See Note 3 for further information. 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. In 2016, the FASB issued several updates to address implementation issues and to clarify guidance for principal versus agent considerations and identifying performance obligations and licensing. 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. In August 2015, the FASB delayed the effective date of the new guidance to annual reporting periods beginning after December 15, 2017, including interim periods within that reporting period. Early adoption is now permitted after the original effective date of December 15, 2016. The Company plans to adopt the new guidance on January 1, 2018. The Company continues to review the impact of the new guidance on its revenue streams and its initial assessment is that the new guidance will not result in a significant impact on its financial statements. The Company preliminarily plans to adopt the new guidance using the modified retrospective application method.

Acquisitions and Dispositions (

Acquisitions and Dispositions (Tables)	6 Months Ended
	Jun. 30, 2017
Schedule of Preliminary Purchase Price Allocation	The following table summarizes the preliminary purchase price allocation as of the Acquisition Date: Cash and cash equivalents $ 7,683,950 Accounts receivable 29,889,677 Prepaid expenses 1,710,924 Other current assets 541,460 Property and equipment 40,642,648 FCC broadcasting licenses 263,260,200 Other intangibles, net 2,790,524 Other assets 676,632 Accounts payable (429,042 ) Other current liabilities (16,685,309 ) Long-term debt (82,177,895 ) Deferred tax liabilities (76,050,112 ) Other long-term liabilities (13,709,261 ) Net assets acquired 158,144,396 Gain on merger (44,281,066 ) Preliminary purchase price $ 113,863,330
Schedule of Preliminary Purchase Price	The following table summarizes the components of the preliminary purchase price: Cash $ 94,444,148 Stock issued 21,865,506 Estimated tower sale adjustment (3,357,916 ) Stock issued in escrow 4,164,859 Estimated working capital adjustment (3,253,267 ) Preliminary purchase price $ 113,863,330
Summary of Pro forma Information	The following unaudited pro forma information for the three and six months ended June 30, 2016 assumes that the merger had occurred on January 1, 2016. The significant pro forma adjustments are depreciation and interest expense. This unaudited 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 acquisition been completed on January 1, 2016 or of results that may occur in the future. Three months June 30, 2016 Six months ended June 30, 2016 Net revenue $ 62,549,516 $ 118,024,368 Operating income 9,094,400 14,806,388 Net income 2,716,788 3,381,133 Basic and diluted net income per share 0.10 0.12
WIKS-FM, WMGV-FM, WNCT-AM, WNCT-FM, WSFL-FM and WXNR-FM [Member]
Summary of Assets Held For Sale	A summary of assets held for sale as of December 31, 2016 is as follows: WFNZ-AM New Bern Total Property and equipment, net $ 1,702,847 $ 1,400,615 $ 3,103,462 FCC broadcasting licenses 2,166,400 3,998,940 6,165,340 Goodwill — 1,943,349 1,943,349 Other intangibles 108,135 — 108,135 $ 3,977,382 $ 7,342,904 $ 11,320,286

Long-Term Debt (Tables)

Long-Term Debt (Tables)	6 Months Ended
	Jun. 30, 2017
Debt Disclosure [Abstract]
Summary of Long-Term Debt	Long-term debt is comprised of the following: December 31, June 30, 2016 2017 Term loan $ 265,000,000 $ 222,000,000 Revolving credit facility 3,000,000 3,000,000 Capital lease obligations 691,951 661,412 268,691,951 225,661,412 Less unamortized debt issuance costs (14,313,703 ) (13,220,087 ) 254,378,248 212,441,325 Less current installments (6,686,077 ) (62,548 ) $ 247,692,171 $ 212,378,777
Scheduled Repayments of Capital Lease Obligations	The aggregate scheduled principal repayments of the credit facility and capital lease obligations for the remainder of 2017, the next four years and thereafter are as follows: 2017 $ 30,538 2018 64,020 2019 67,101 2020 70,326 2021 10,073,700 Thereafter 215,355,727 Total $ 225,661,412

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	6 Months Ended
	Jun. 30, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Restricted Stock Units and Restricted Stock Activity	A summary of restricted stock unit activity under the 2007 Plan for the three months ended June 30, 2017 is as follows: Units Weighted- Grant-Date Unvested as of April 1, 2017 43,792 $ 9.30 Granted 432,000 10.65 Vested — — Forfeited — — Unvested as of June 30, 2017 475,792 $ 10.53 A summary of restricted stock activity under the 2007 Plan for the three months ended June 30, 2017 is as follows: Shares Weighted- Grant-Date Unvested as of April 1, 2017 229,602 $ 4.76 Granted — — Vested (6,700 ) 7.27 Forfeited (3,750 ) 7.87 Unvested as of June 30, 2017 219,152 $ 5.51

Acquisitions and Dispositions -

Acquisitions and Dispositions - Additional Information (Detail) - USD ($)	May 01, 2017	Jan. 06, 2017	Nov. 01, 2016	Jun. 30, 2017	Mar. 31, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016	Feb. 27, 2017
Business Acquisition [Line Items]
Merger and disposition expenses				$ 295,237			$ 746,070
Additional consideration recorded as gain on acquisition				(2,391,342)			5,141,950
Proceeds from sale assets held for sale	$ 11,000,000	$ 24,000,000
Gain on dispositions, net				3,977,449	$ (300,000)		3,707,993
Translator license and equipment received as consideration	$ 300,000						332,000
Disposal Group, Held-for-sale, Not Discontinued Operations [Member]
Business Acquisition [Line Items]
Business acquisition, pre tax income (loss)				100,000		$ 500,000	20,000	$ 300,000
Gain on disposition				$ 4,000,000			4,000,000
Other disposition related expenses							$ 300,000
Greater Media Inc [Member]
Business Acquisition [Line Items]
Merger agreement date			Nov. 1, 2016
Aggregate purchase price			$ 113,863,330
Refinancing of outstanding debt and payment of certain transaction expenses			82,177,895
Proceeds to be paid to stockholders in cash			$ 94,444,148
Number of shares equal to payment to stockholders			5,422,993
Fixed value of share			$ 4.61
Cash proceeds to stockholders from sale of tower assets			$ 24,000,000
Fair value of share			$ 5.16	$ 9.80			$ 9.80
Estimate of net operating loss carry forwards							$ 3,600,000
Additional consideration recorded as gain on acquisition				$ (1,200,000)			2,600,000
Business acquisition, sales price			$ 28,000,000						$ 28,000,000
Business acquisition, number of shares expected to be returned			650,759
Business acquisition fair value of shares returned			$ 3,400,000	6,400,000			6,400,000
Greater Media Inc [Member] | Class A Common Stock [Member]
Business Acquisition [Line Items]
Proceeds to be paid to stockholders in shares			$ 25,000,000
Fair value of share			$ 4.80
Value of shares issuable upon acquisition			$ 26,000,000
Greater Media Inc [Member] | Class A Common Stock [Member] | Common Stock to be Held in Escrow [Member]
Business Acquisition [Line Items]
Proceeds to be paid to stockholders in shares			$ 4,200,000
Number of shares equal to payment to stockholders			867,679
Greater Media Inc [Member] | Class A Common Stock [Member] | Shares Released from Escrow [Member]
Business Acquisition [Line Items]
Proceeds to be paid to stockholders in shares			$ 900,000
Number of shares equal to payment to stockholders			189,915
Value of shares forfeited upon acquisition			$ 3,300,000
Additional consideration recorded as gain on acquisition				$ (1,200,000)			$ 2,500,000

Acquisitions and Dispositions21

Acquisitions and Dispositions - Schedule of Preliminary Purchase Price Allocation (Detail) - Greater Media Inc [Member]	Nov. 01, 2016USD ($)
Business Acquisition [Line Items]
Cash and cash equivalents	$ 7,683,950
Accounts receivable	29,889,677
Prepaid expenses	1,710,924
Other current assets	541,460
Property and equipment	40,642,648
FCC broadcasting licenses	263,260,200
Other intangibles, net	2,790,524
Other assets	676,632
Accounts payable	(429,042)
Other current liabilities	(16,685,309)
Long-term debt	(82,177,895)
Deferred tax liabilities	(76,050,112)
Other long-term liabilities	(13,709,261)
Net assets acquired	158,144,396
Gain on merger	(44,281,066)
Preliminary purchase price	113,863,330
Cash	94,444,148
Stock issued	21,865,506
Estimated tower sale adjustment	(3,357,916)
Stock issued in escrow	4,164,859
Estimated working capital adjustment	(3,253,267)
Preliminary purchase price	$ 113,863,330

Acquisitions and Dispositions22

Acquisitions and Dispositions - Summary of Pro forma Information (Detail) - Greater Media Inc [Member] - USD ($)	3 Months Ended	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2016
Business Acquisition [Line Items]
Net revenue	$ 62,549,516	$ 118,024,368
Operating income	9,094,400	14,806,388
Net income	$ 2,716,788	$ 3,381,133
Basic and diluted net income per share	$ 0.10	$ 0.12

Acquisitions and Dispositions23

Acquisitions and Dispositions - Summary of Assets Held For Sale (Detail)	Dec. 31, 2016USD ($)
Long Lived Assets Held-for-sale [Line Items]
Assets held for sale	$ 11,320,286
Disposal Group, Held-for-sale, Not Discontinued Operations [Member]
Long Lived Assets Held-for-sale [Line Items]
Assets held for sale	11,320,286
Disposal Group, Held-for-sale, Not Discontinued Operations [Member] | Other Intangible Assets [Member]
Long Lived Assets Held-for-sale [Line Items]
Assets held for sale	108,135
Disposal Group, Held-for-sale, Not Discontinued Operations [Member] | FCC Broadcasting License [Member]
Long Lived Assets Held-for-sale [Line Items]
Assets held for sale	6,165,340
Disposal Group, Held-for-sale, Not Discontinued Operations [Member] | Property, Plant and Equipment [Member]
Long Lived Assets Held-for-sale [Line Items]
Assets held for sale	3,103,462
Disposal Group, Held-for-sale, Not Discontinued Operations [Member] | Goodwill [Member]
Long Lived Assets Held-for-sale [Line Items]
Assets held for sale	1,943,349
WFNZAM [Member] | Disposal Group, Held-for-sale, Not Discontinued Operations [Member]
Long Lived Assets Held-for-sale [Line Items]
Assets held for sale	3,977,382
WFNZAM [Member] | Disposal Group, Held-for-sale, Not Discontinued Operations [Member] | Other Intangible Assets [Member]
Long Lived Assets Held-for-sale [Line Items]
Assets held for sale	108,135
WFNZAM [Member] | Disposal Group, Held-for-sale, Not Discontinued Operations [Member] | FCC Broadcasting License [Member]
Long Lived Assets Held-for-sale [Line Items]
Assets held for sale	2,166,400
WFNZAM [Member] | Disposal Group, Held-for-sale, Not Discontinued Operations [Member] | Property, Plant and Equipment [Member]
Long Lived Assets Held-for-sale [Line Items]
Assets held for sale	1,702,847
New Bern [Member] | Disposal Group, Held-for-sale, Not Discontinued Operations [Member]
Long Lived Assets Held-for-sale [Line Items]
Assets held for sale	7,342,904
New Bern [Member] | Disposal Group, Held-for-sale, Not Discontinued Operations [Member] | FCC Broadcasting License [Member]
Long Lived Assets Held-for-sale [Line Items]
Assets held for sale	3,998,940
New Bern [Member] | Disposal Group, Held-for-sale, Not Discontinued Operations [Member] | Property, Plant and Equipment [Member]
Long Lived Assets Held-for-sale [Line Items]
Assets held for sale	1,400,615
New Bern [Member] | Disposal Group, Held-for-sale, Not Discontinued Operations [Member] | Goodwill [Member]
Long Lived Assets Held-for-sale [Line Items]
Assets held for sale	$ 1,943,349

Long-Term Debt - Summary of Lon

Long-Term Debt - Summary of Long-Term Debt (Detail) - USD ($)	Jun. 30, 2017	Dec. 31, 2016
Line of Credit Facility [Line Items]
Capital lease obligations	$ 661,412	$ 691,951
Long-term debt, including capital lease obligations	225,661,412	268,691,951
Less unamortized debt issuance costs	(13,220,087)	(14,313,703)
Long-term debt	212,441,325	254,378,248
Long-term debt	212,441,325	254,378,248
Less current installments	(62,548)	(6,686,077)
Long-term debt, net of current portion	212,378,777	247,692,171
Term Loan [Member]
Line of Credit Facility [Line Items]
Long-term debt	222,000,000	265,000,000
Revolving Credit Loan [Member]
Line of Credit Facility [Line Items]
Revolving credit facility	$ 3,000,000	$ 3,000,000

Long-Term Debt - Additional Inf

Long-Term Debt - Additional Information (Detail)	6 Months Ended
	Jun. 30, 2017USD ($)	Dec. 31, 2016USD ($)
Term Loan [Member]
Line of Credit Facility [Line Items]
Long-term debt	$ 222,000,000	$ 265,000,000
Revolving credit loan and term loan carried interest	7.20%	7.00%
Revolving credit facility and term loan maturity date	Nov. 1, 2023
Term Loan [Member] | Floor Rate [Member]
Line of Credit Facility [Line Items]
Term loan facility interest rate	1.00%
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	17,000,000
Revolving credit facility	$ 3,000,000	$ 3,000,000
Revolving credit loan and term loan carried interest	7.20%	6.80%
Revolving credit facility and term loan maturity date	Nov. 1, 2021
Fiscal Quarter from March 31, 2017 through March 31, 2018 [Member] | First Mortgage [Member] | Maximum [Member]
Line of Credit Facility [Line Items]
Long-term Debt Covenants Aggregate Leverage Ratio	6.25
June 30, 2018 Through September 30, 2018 [Member] | First Mortgage [Member] | Maximum [Member]
Line of Credit Facility [Line Items]
Long-term Debt Covenants Aggregate Leverage Ratio	6
December 31, 2018 through September 30, 2019 [Member] | First Mortgage [Member] | Maximum [Member]
Line of Credit Facility [Line Items]
Long-term Debt Covenants Aggregate Leverage Ratio	5.75
December 31, 2019 and thereafter [Member] | First Mortgage [Member] | Maximum [Member]
Line of Credit Facility [Line Items]
Long-term Debt Covenants Aggregate Leverage Ratio	5.25
Existing Credit Agreement [Member]
Line of Credit Facility [Line Items]
Long-term debt	$ 225,000,000
Revolving credit facility and term loan maturity date	Nov. 1, 2021
Mandatory prepayments of consolidated excess cash flow due period	105 days
Mandatory prepayments of consolidated excess cash flow required by existing credit agreement	Commencing with the year ending December 31, 2017, the credit agreement requires mandatory prepayments equal to 75% of excess cash flow, as defined in the credit agreement, when the Company’s leverage ratio is greater than 3.75 times its consolidated EBITDA, as defined in the credit agreement. The credit agreement requires mandatory prepayments equal to 50% when the Company’s leverage ratio is less than or equal to 3.75 times and greater than 3.5 times; mandatory prepayments equal to 25% when the Company’s leverage ratio is less than or equal to 3.5 times and greater than 3.0 times; and no mandatory prepayments when the Company’s leverage ratio is less than or equal to 3.0 times.
Existing Credit Agreement [Member] | Leverage Ratio Greater than 3.75 Times [Member]
Line of Credit Facility [Line Items]
Mandatory prepayments of excess cash flow	75.00%
Existing Credit Agreement [Member] | Leverage Ratio Less than or Equal To 3.75 Times and Greater than 3.5 Times [Member]
Line of Credit Facility [Line Items]
Mandatory prepayments of excess cash flow	50.00%
Existing Credit Agreement [Member] | Leverage Ratio Less than or Equal To 3.5 Times and Greater than 3.0 Times [Member]
Line of Credit Facility [Line Items]
Mandatory prepayments of excess cash flow	25.00%
Existing Credit Agreement [Member] | Leverage Ratio Less than or Equal to 3.0 Times [Member]
Line of Credit Facility [Line Items]
Mandatory prepayments of excess cash flow	0.00%
New Credit Agreement [Member]
Line of Credit Facility [Line Items]
Credit facility interest rate period increase (decrease)	(0.25%)
Long-term Debt Covenants Aggregate Leverage Ratio	3.75
New Credit Agreement [Member] | LIBOR [Member]
Line of Credit Facility [Line Items]
Credit facility interest rate margins	6.00%
New Credit Agreement [Member] | Base Rate [Member]
Line of Credit Facility [Line Items]
Credit facility interest rate margins	5.00%

Long-Term Debt - Scheduled Repa

Long-Term Debt - Scheduled Repayments of Credit Facility (Detail) - USD ($)	Jun. 30, 2017	Dec. 31, 2016
Debt Instrument [Line Items]
Total	$ 225,661,412	$ 268,691,951
New Credit Agreement [Member]
Debt Instrument [Line Items]
2,017	30,538
2,018	64,020
2,019	67,101
2,020	70,326
2,021	10,073,700
Thereafter	215,355,727
Total	$ 225,661,412

Employee Benefit Plans - Additi

Employee Benefit Plans - Additional Information (Detail) - USD ($)	3 Months Ended	6 Months Ended	12 Months Ended
	Jun. 30, 2017	Jun. 30, 2017	Dec. 31, 2016
Defined Contribution Plan Disclosure [Line Items]
Defined benefit plan benefit obligation	$ (1,812,448)	$ (1,812,448)
Greater Media Postretirement Medical and Life Insurance Benefits Plan [Member] | Corporate General and Administrative Expenses [Member]
Defined Contribution Plan Disclosure [Line Items]
Defined benefit plan benefit obligation	$ (1,800,000)	$ (1,800,000)
Greater Media Postretirement Medical and Life Insurance Benefits Plan [Member] | Other Noncurrent Liabilities [Member]
Defined Contribution Plan Disclosure [Line Items]
Defined benefit plan benefit obligation			$ 1,800,000

Stock-Based Compensation - Addi

Stock-Based Compensation - Additional Information (Detail) - 2007 Plan [Member] $ in Millions	6 Months Ended
	Jun. 30, 2017USD ($)shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total unrecognized compensation cost related to restricted stock units and restricted stock granted | $	$ 5.1
Cost expected to be recognized over a weighted-average period	2 years 8 months 12 days
Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock units and restricted stock awards, vest, period	1 year
Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock units and 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 | shares	7,500,000

Stock-Based Compensation - Rest

Stock-Based Compensation - Restricted Stock Units and Restricted Stock Activity (Detail) - 2007 Plan [Member]	3 Months Ended
	Jun. 30, 2017$ / sharesshares
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unvested Shares, Beginning Balance | shares	43,792
Granted, Shares | shares	432,000
Vested, Shares | shares	0
Forfeited, Shares | shares	0
Unvested Shares, Ending Balance | shares	475,792
Unvested, Weighted-Average Grant-Date Fair Value, Beginning Balance | $ / shares	$ 9.30
Granted, Weighted-Average Grant-Date Fair Value | $ / shares	10.65
Vested, Weighted-Average Grant-Date Fair Value | $ / shares	0
Forfeited, Weighted-Average Grant-Date Fair Value | $ / shares	0
Unvested, Weighted-Average Grant-Date Fair Value, Ending Balance | $ / shares	$ 10.53
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unvested Shares, Beginning Balance | shares	229,602
Granted, Shares | shares	0
Vested, Shares | shares	(6,700)
Forfeited, Shares | shares	(3,750)
Unvested Shares, Ending Balance | shares	219,152
Unvested, Weighted-Average Grant-Date Fair Value, Beginning Balance | $ / shares	$ 4.76
Granted, Weighted-Average Grant-Date Fair Value | $ / shares	0
Vested, Weighted-Average Grant-Date Fair Value | $ / shares	7.27
Forfeited, Weighted-Average Grant-Date Fair Value | $ / shares	7.87
Unvested, Weighted-Average Grant-Date Fair Value, Ending Balance | $ / shares	$ 5.51

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Income Tax Disclosure [Abstract]
Effective tax rate	52.00%	40.00%	25.00%	41.00%
Federal statutory rate			35.00%
Increase (decrease) in income tax due to change in fair value of contingent consideration	$ 0.9		$ (2)

Related Party Transactions - Ad

Related Party Transactions - Additional Information (Detail) - LN2 DB, LLC [Member]	Feb. 22, 2017USD ($)
Related Party Transaction [Line Items]
Additional contribution to related party	$ 150,000
Note bearing interest rate	18.00%

Financial Instruments - Additio

Financial Instruments - Additional Information (Detail) - USD ($)	Jun. 30, 2017	Dec. 31, 2016
Fair Value Of Financial Instruments [Line Items]
Long term debt, including capital lease obligations and current installments	$ 225,661,412	$ 268,691,951
Revolving credit facility and capital lease obligations		3,700,000
Term Loan [Member]
Fair Value Of Financial Instruments [Line Items]
Long-term debt	$ 222,000,000	265,000,000
Fair Value, Inputs, Level 2 [Member] | Term Loan [Member]
Fair Value Of Financial Instruments [Line Items]
Estimated fair value of term loan		$ 268,500,000