Edgar Filing: CUMULUS MEDIA INC

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10-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form 10-K

þ	ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the fiscal year ended December 31, 2012

¨	TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from to

Commission file number 00-24525

Cumulus Media Inc.

(Exact Name of Registrant as Specified in Its Charter)


Delaware		36-4159663
(State of Incorporation)		(I.R.S. Employer Identification No.)

3280 Peachtree Road, N.W.

Suite 2300

Atlanta, GA 30305

(404) 949-0700

(Address, including zip code, and telephone number, including area code, of registrant’s principal offices)

Securities Registered Pursuant to Section 12(b) of the Act:

None

Securities Registered Pursuant to Section 12(g) of the Act:

Class A Common Stock, par value $.01 per share

Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ¨ No þ

Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes ¨ No þ

Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes þ No ¨

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate website, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes þ No ¨

Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K is not contained herein, and will not be contained, to the best of Registrant’s knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form 10-K or any amendment to this Form 10-K. ¨

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of “large accelerated filer”, “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act (Check one):

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ¨ No þ

The aggregate market value of the registrant’s outstanding voting and non-voting common stock held by non-affiliates of the registrant (assuming, solely for the purposes hereof, that all officers, directors and 10% or greater stockholders of the registrant are affiliates of the registrant, some of whom may not be deemed to be affiliates upon judicial determination) as of June 29, 2012, the last business day of the registrant’s most recently completed second fiscal quarter, was approximately $223.0 million.

As of March 11, 2013, the registrant had outstanding 175,557,824 shares of common stock consisting of (i) 159,488,009 shares of Class A common stock; (ii) 15,424,944 shares of Class B common stock; and (iii) 644,871 shares of Class C common stock.

DOCUMENTS INCORPORATED BY REFERENCE

Portions of the registrant’s definitive proxy statement relating to its 2013 annual meeting of stockholders (the “2013 Proxy Statement”), to be filed with the Securities and Exchange Commission, are incorporated by reference in Part III, Items 10 to 14 of this Annual Report on Form 10-K (the “Annual Report”) as indicated herein.

CUMULUS MEDIA INC.

ANNUAL REPORT ON FORM 10-K

For the Fiscal Year Ended December 31, 2012


Item Number		Page Number
PART I
1.	Business		3
1A.	Risk Factors		25
1B.	Unresolved Staff Comments		35
2.	Properties		35
3.	Legal Proceedings		35
4.	Mine Safety Disclosures		35
PART II
5.	Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities		36
6.	Selected Financial Data		38
7.	Management’s Discussion and Analysis of Financial Condition and Results of Operations		39
7A.	Quantitative and Qualitative Disclosures about Market Risk		57
8.	Financial Statements and Supplementary Data		58
9.	Changes in and Disagreements with Accountants on Accounting and Financial Disclosure		58
9A.	Controls and Procedures		58
9B.	Other Information		59
PART III
10.	Directors, Executive Officers and Corporate Governance		60
11.	Executive Compensation		60
12.	Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters		60
13.	Certain Relationships and Related Transactions, and Director Independence		60
14.	Principal Accountant Fees and Services		60
PART IV
15.	Exhibits, Financial Statement Schedules		61
	Signatures		65

PART I

Item 1.

Business

Description of Certain Definitions and Data

In this annual report on Form 10-K (this “Form 10-K” or this “Report”) the terms “Company,” “Cumulus,” “we,” “us,” and “our” refer to Cumulus Media Inc. and its consolidated subsidiaries.

We use the term “local marketing agreement” (“LMA”) in this Report. In a typical LMA, the licensee of a radio station makes available, for a fee and reimbursement of its expenses, airtime on its station to a party which supplies programming to be broadcast during that airtime, and collects revenues from advertising aired during such programming. In addition to entering into LMAs, we from time to time enter into management or consulting agreements that provide us with the ability, as contractually specified, to assist current owners in the management of radio station assets, subject to Federal Communications Commission (“FCC”) approval. In such arrangements, we generally receive a contractually specified management fee or consulting fee in exchange for the services provided.

Unless otherwise indicated, as disclosed herein:

•

we obtained total radio industry listener and revenue levels from the Radio Advertising Bureau (the “RAB”);

•

we derived historical market revenue statistics and market revenue share percentages from data published by Miller Kaplan, Arase & Co., LLP (“Miller Kaplan”), a public accounting firm that specializes in serving the broadcasting industry and BIA Financial Network, Inc. (“BIA”), a media and telecommunications advisory services firm; and

•

we derived all audience share data and audience rankings, including ranking by population, except where otherwise stated to the contrary, from surveys of people ages 12 and over (“Adults 12+”), listening Monday through Sunday, 6 a.m. to 12 midnight, and based on the Arbitron Market Report (“Arbitron’s Market Report”).

Company Overview

We own and operate commercial radio station clusters throughout the United States. We believe we are the largest pure-play radio broadcaster in the United States based on number of stations owned and operated. At December 31, 2012, we owned or operated approximately 517 radio stations (including under LMAs) in 108 United States media markets and operated nationwide radio networks serving over 5,000 affiliates. At December 31, 2012, under LMAs, we provided sales and marketing services for 14 radio stations in the United States.

We are a Delaware corporation, organized in 2002, and successor by merger to an Illinois corporation with the same name that had been organized in 1997.

Strategic Overview

Our operating strategy is primarily focused on generating internal growth through improving the performance of the portfolio of stations we own and operate, while enhancing our station portfolio and our business as a whole through the acquisition of individual stations or clusters that satisfy our acquisition criteria. We further seek to use our national platform to develop new media businesses that we believe are synergistic with radio broadcasting.

Our Company was formed in 1997 with an initial strategic focus on mid-sized markets throughout the United States. We historically focused on such markets because it was our belief that these markets, as compared

to large markets, had been characterized by a higher ratio of local advertisers to national advertisers and a larger number of smaller-dollar customers, both of which have historically led to lower volatility in the face of changing macroeconomic conditions. We believed that the attractive operating characteristics of mid-sized markets, together with the relaxation of radio station ownership limits under the Telecommunications Act of 1996 (the “Telecom Act”) and FCC rules, created significant opportunities for growth from the formation of groups of radio stations within these markets. We focused on capitalizing on opportunities to acquire groups of stations in attractive markets at favorable purchase prices, taking advantage of the size and fragmented nature of ownership in those markets and the greater attention historically given to larger markets by radio station acquirers.

Although our historical focus was on mid-sized radio markets in the United States, we recognized that the large radio markets can provide an attractive combination of scale, stability and opportunity for future growth, particularly for emerging digital advertising initiatives. According to BIA, these markets typically have per capita and household income, and expected household after-tax effective buying income growth, in excess of the national average, which we believe makes radio broadcasters in these markets attractive to a broad base of advertisers, and allows a radio broadcaster to reduce its dependence on any one economic sector or specific advertiser. We also believe that having a national platform provides appropriate scale and additional opportunities to launch new digital media businesses and partner with other national media companies when appropriate. In furtherance of this strategy, in 2011, we completed the acquisition of the 75.0% of the equity interests of Cumulus Media Partners, LLC (“CMP”) that we did not already own (the “CMP Acquisition”) and the acquisition (the “Citadel Merger”) of Citadel Broadcasting Corporation (“Citadel”), each as described in more detail below.

Industry Overview

The primary source of revenues for radio stations is the sale of advertising time to local, regional and national spot advertisers, and national network advertisers. National network advertisers place advertisements on a national network show and such advertisements air in each market where the network has an affiliate. Over the past ten years, radio advertising revenue has represented 8.0% to 10.0% of the overall United States advertising market, and typically follows macroeconomic growth trends. In 2012, radio advertising revenues reached $16.5 billion.

Generally, radio is considered an efficient, cost-effective means of reaching specifically identified demographic groups. Stations are typically classified by their on-air format, such as country, rock, adult contemporary, oldies and news/talk. A station’s format and style of presentation enables it to target specific segments of listeners sharing certain demographic features. By capturing a specific share of a market’s radio listening audience with particular concentration in a targeted demographic, a station is able to market its broadcasting time to advertisers seeking to reach a specific audience. Advertisers and stations use data published by audience measuring services, such as Arbitron, to estimate how many people within particular geographical markets and demographics listen to specific stations.

The number of advertisements that can be broadcast by a station without jeopardizing listening levels and the resulting ratings is limited in part by the format of a particular station and the local competitive environment. Although the number of advertisements broadcast during a given time period may vary, the total number of advertisements broadcast on a particular station generally does not vary significantly from year to year.

A station’s local sales staff generates the majority of its local and regional advertising sales through direct solicitations of local advertising agencies and businesses. To generate national advertising sales, a station usually will engage a firm that specializes in soliciting radio-advertising sales on a national level. National sales representatives obtain advertising principally from advertising agencies located outside the station’s market and receive commissions based on the revenue from the advertising they obtain.

Our stations compete for advertising revenue with other broadcast radio stations in their particular market as well as other media, including newspapers, broadcast television, cable television, magazines, direct mail,

coupons and outdoor advertising. In addition, the radio broadcasting industry is subject to competition from services that use new media technologies that are being developed or have already been introduced, such as the internet and satellite-based digital radio services. Such services may reach regional and nationwide audiences with multi-channel, multi-format, digital radio services.

We cannot predict how existing, new or any future generated sources of competition will affect our performance and results of operations. The radio broadcasting industry historically has grown over the long term despite the introduction of new technologies for the delivery of entertainment and information, such as television broadcasting, cable television, audio tapes, compact discs and iPods and other similar devices. We believe population growth and greater availability of radios, particularly car and portable radios when combined with increased travel and commuting time, have contributed to this growth. There can be no assurance, however, that the development or introduction in the future of any new media technology will not have a material adverse effect on the radio broadcasting industry in general or our stations in particular.

Advertising Sales

Virtually all of our revenue is generated from the sale of local, regional, and national advertising for broadcast on our radio stations. In 2012, 2011 and 2010, approximately 77.4%, 72.6% and 84.5%, respectively, of our net broadcasting revenue was generated from the sale of local and regional advertising. Additional broadcasting revenue is generated from the sale of national advertising. The major categories of our advertisers consist of:


Amusement and recreation	Banking and mortgage	Furniture and home furnishings
Arts and entertainment	Food and beverage services	Healthcare services
Automotive dealers	Food and beverage stores	Telecommunications

Each station’s local sales staff solicits advertising either directly from a local advertiser or indirectly through an advertising agency. We employ a tiered commission structure to focus our sales staffs on new business development. Consistent with our operating strategy of dedicated sales forces for each of our stations, we have increased the number of salespeople per station. We believe that we can outperform the traditional growth rates of our markets by (1) expanding our base of advertisers, (2) training newly hired sales people and (3) providing a higher level of service to our existing customer base. We believe this will be effectively accomplished though a larger sales staff than most of the stations employed at the time we acquired them.

Our national sales are made by a firm specializing in radio advertising sales on the national level, in exchange for a commission that is based on the gross revenue from the advertising generated. Regional sales, which we define as sales in regions surrounding our markets to buyers that advertise in our markets, are generally made by our local sales staff and market managers. Whereas we seek to grow our local sales through larger and more customer-focused sales staffs, we seek to grow our national and regional sales by offering to key national and regional advertisers access to groups of stations within specific markets and regions that make us a more attractive platform. Many of these advertisers have previously been reluctant to advertise in certain smaller markets because of the logistics involved in buying advertising from individual stations. Certain of our stations had no national representation before we acquired them.

Each of our stations has a general target level of on-air inventory available for advertising. This target level of inventory for sale may vary at different times of the day but tends to remain stable over time. Our stations strive to maximize revenue by managing their on-air advertising inventory and adjusting prices up or down based on supply and demand. We seek to broaden our advertiser base in each market by providing a wide array of audience demographic segments across our cluster of stations, thereby providing potential advertisers with an effective means to reach a targeted demographic group. Our selling and pricing activity is based on demand for our radio stations’ on-air inventory and, in general, we respond to this demand by varying prices rather than by varying our target inventory level for a particular station. Most changes in revenue are explained by a

combination of demand-driven pricing changes and changes in inventory utilization rather than by changes in available inventory. Advertising rates charged by radio stations, which are generally highest during morning and afternoon commuting hours, are based primarily on:

•

a station’s share of audiences and the demographic groups targeted by advertisers (as measured by ratings surveys);

•

the supply and demand for radio advertising time and for time targeted at particular demographic groups; and

•

certain additional qualitative factors.

A station’s listenership is reflected in ratings surveys that estimate the number of listeners tuned in to the station, and the time they spend listening. Each station’s ratings are used by its advertisers and advertising representatives to consider advertising with the station and are used by Cumulus to chart audience growth, set advertising rates and adjust programming.

Competition

The radio broadcasting industry is very competitive. Our stations compete for listeners and advertising revenues directly with other radio stations within their respective markets, as well as with other advertising media. Additionally, new online music and other entertainment services have begun selling advertising locally, creating additional competition for both listeners and advertisers.

Radio stations compete for listeners primarily on the basis of program content that appeals to a particular demographic group. Factors that affect a radio station’s competitive position include station brand identity and loyalty, management experience, the station’s local audience rank in its market, transmitter power and location, assigned frequency, audience characteristics, local program acceptance and the number and characteristics of other radio stations and other advertising media in the market area. We attempt to improve our competitive position in each market by extensively researching and seeking to improve our stations’ programming, by implementing targeted advertising campaigns aimed at the demographic groups for which our stations program and by managing our sales efforts to attract a larger share of advertising dollars for each station individually. We also seek to improve our competitive position by focusing on building a strong brand identity with a targeted listener base consisting of specific demographic groups in each of our markets, which we believe will allow us to better attract advertisers seeking to reach those listeners.

The success of each of our stations depends largely upon rates it can charge for its advertising, which in turn is affected by the number of local advertising competitors, and the overall demand for advertising within individual markets. These conditions may fluctuate and are highly susceptible to changes in both local markets and more general macroeconomic conditions. Specifically, a radio station’s competitive position can be enhanced or negatively impacted by a variety of factors, including the changing of, or another station changing, its format to compete directly for a different demographic of listeners and advertisers or an upgrade of the station’s authorized power through the relocation or upgrade of transmission equipment. Another station’s decision to convert to a format similar to that of one of our radio stations in the same geographic area, to improve its signal reach through equipment changes or upgrades, or to launch an aggressive promotional campaign may result in lower ratings and advertising revenue. Any adverse change affecting advertising expenditures in a particular market or in the relative market share of our stations located in a particular market could have a material adverse effect on the results of the radio stations located in that market or, possibly, the Company as a whole. There can be no assurance that any one or all of our stations will be able to maintain or increase advertising revenue market share.

There are also regulations that impact competition within the radio industry. Under federal laws and FCC rules, a single party can own and operate multiple stations in a local market, subject to certain limitations described below. We believe that companies that form groups of commonly owned stations or joint arrangements, such as LMAs, in a particular market may, in certain circumstances, have lower operating costs

and may be able to offer advertisers in those markets more attractive rates and services. Although we currently operate multiple stations in most of our markets and intend to pursue the creation of additional multiple station groups in particular markets, our competitors in certain markets include other parties that own and operate as many or more stations than we do.

However, the competitive position of existing radio stations is protected to some extent by certain regulatory barriers to new entrants. The operation of a radio broadcast station requires an FCC license, and the number of radio stations that an entity can operate in a given market is limited under certain FCC rules. The number of radio stations that a party can own in a particular market is dictated largely by whether the station is in a defined “Arbitron Metro” (a designation designed by a private party for use in advertising matters), and, if so, the number of stations included in that Arbitron Metro. In those markets that are not in an Arbitron Metro, the number of stations a party can own in the particular market is dictated by the number of AM and FM signals that together comprise that FCC-defined radio market. These FCC ownership rules may, in some instances, limit the number of stations one or more of our existing competitors can own or operate, or may limit potential new market entrants. However, FCC ownership rules may change in the future to limit any protections they provide. We also cannot predict what other matters might be considered in the future by the FCC or Congress, nor can we assess in advance what impact, if any, the implementation of any of these proposals or changes might have on our business. For a discussion of FCC regulation (including recent changes), see “— Federal Regulation of Radio Broadcasting.”

Employees

At December 31, 2012, we employed 6,483 people, 4,432 of whom are employed full time. Of these employees, approximately, 216 employees are covered by collective bargaining agreements. We have not experienced any material work stoppages by our employees covered by collective bargaining agreements, and overall, we consider our relations with our employees to be satisfactory.

On occasion, we enter into contracts with various on-air personalities with large loyal audiences in their respective markets to protect our interests in those relationships that we believe to be valuable. The loss of one or more of these personalities could result in a short-term loss of audience share, but we do not believe that any such loss would have a material adverse effect on our financial condition or results of operations, taken as a whole.

Federal Regulation of Radio Broadcasting

General

The ownership, operation and sale of radio broadcast stations, including those licensed to us, is subject to the jurisdiction of the FCC, which acts under authority of the Communications Act of 1934, as amended (the “Communications Act”). The Telecommunications Act of 1996 (the “Telecom Act”) amended the Communications Act and directed the FCC to change certain of its broadcast rules. Among its other regulatory responsibilities, the FCC issues permits and licenses to construct and operate radio stations; assigns broadcast frequencies; determines whether to approve changes in ownership or control of station licenses; regulates transmission equipment, operating power, and other technical parameters of stations; adopts and implements regulations and policies that directly or indirectly affect the ownership, operation and employment practices of stations; regulates the content of some forms of radio broadcast programming; and has the authority under the Communications Act to impose penalties for violations of its rules.

The following is a brief summary of certain provisions of the Communications Act, the Telecom Act, and related FCC rules and policies (collectively, the “Communications Laws”). This description does not purport to be comprehensive, and reference should be made to the Communications Laws, public notices, and decisions issued by the FCC for further information concerning the nature and extent of federal regulation of radio broadcast stations. Failure to observe the provisions of the Communications Laws can result in the imposition of

various sanctions, including monetary forfeitures and the grant of a “short-term” (less than the maximum term) license renewal. For particularly egregious violations, the FCC may deny a station’s license renewal application, revoke a station’s license, or deny applications in which an applicant seeks to acquire additional broadcast properties.

License Grant and Renewal

Radio broadcast licenses are generally granted and renewed for terms of up to eight years at a time. Licenses are renewed by filing an application with the FCC, which is subject to review and approval. The Communications Act expressly provides that a radio station is authorized to continue to operate after the expiration date of its existing license until the FCC acts on a pending renewal application. Petitions to deny license renewal applications may be filed by interested parties, including members of the public. While we are not currently aware of any facts that would prevent the renewal of our licenses to operate our radio stations, there can be no assurance that all of our licenses will be renewed in the future for a full term, or at all.

Service Areas

The area served by AM stations is determined by a combination of frequency, transmitter power, antenna orientation, and soil conductivity. To determine the effective service area of an AM station, the station’s power, operating frequency, antenna patterns and its day/night operating modes are evaluated. The area served by an FM station is determined by a combination of effective radiated power (“ERP”), antenna height and terrain with stations divided into eight classes according to these technical parameters.

Each class of FM radio station has the right to broadcast with a certain amount of ERP from an antenna located at a certain height above average terrain. The most powerful FM radio stations, which are generally those with the largest geographic reach, are Class C FM stations, which operate with up to the equivalent of 100 kilowatts (“kW”) of ERP at an antenna height of 1,968 feet above average terrain. These stations typically provide service to a large area that covers one or more counties (which may or may not be in the same state). There are also Class C0, C1, C2 and C3 FM radio stations which operate with progressively less power and/or antenna height above average terrain and, thus, less geographic reach. In addition, Class B FM stations operate with the equivalent of up to 50 kW ERP at an antenna height of 492 feet above average terrain. Class B stations can serve large metropolitan areas and their outer suburban areas. Class B1 stations can operate with up to the equivalent of 25 kW ERP at an antenna height of 328 feet above average terrain. Class A FM stations operate with up to the equivalent of 6 kW ERP at an antenna height of 328 feet above average terrain, and often (but not always) serve smaller cities or suburbs of larger cities.

The following table sets forth, as of March 8, 2013, the market, call letters, FCC license classification, antenna height above average terrain (for FM stations only), power frequency and license expiration date of all our owned and/or operated stations, including pending station acquisitions operated under an LMA, and all other announced pending station acquisitions. Stations with a license expiration date prior to March 8, 2013 represent stations for which a renewal application has been timely filed with the FCC and is currently pending before the FCC. The Communications Act expressly provides that a radio station is authorized to continue to operate after the expiration date of its existing license until the FCC acts on a pending renewal application.


Market	Stations	City of License	Frequency		Expiration Date of License	FCC Class	Height Above Average Terrain (in feet)		Power (in Kilowatts)
Market	Stations	City of License	Frequency		Expiration Date of License	FCC Class	Height Above Average Terrain (in feet)		Day		Night
Abilene, TX	KBCY FM	Tye, TX		99.7	August 1, 2013	C1		745		100.0		100.0
	KCDD FM	Hamlin, TX		103.7	August 1, 2013	C0		984		100.0		100.0
	KHXS FM	Merkel, TX		102.7	August 1, 2013	C1		745		99.2		99.2
	KTLT FM	Anson, TX		98.1	August 1, 2013	C2		305		50.0		50.0
Albany, GA	WALG AM	Albany, GA		1590	April 1, 2020	B		N/A		5.0		1.0
	WEGC FM	Sasser, GA		107.7	April 1, 2020	C3		312		11.5		11.5
	WGPC AM	Albany, GA		1450	April 1, 2020	C		N/A		1.0		1.0
	WJAD FM	Leesburg, GA		103.5	April 1, 2020	C3		463		12.5		12.5
	WKAK FM	Albany, GA		104.5	April 1, 2020	C1		981		100.0		100.0
	WNUQ FM	Sylvester, GA		102.1	April 1, 2020	A		259		6.0		6.0
	WQVE FM	Albany, GA		101.7	April 1, 2020	A		299		6.0		6.0
Albuquerque, NM	KKOB AM	Albuquerque, NM		770	October 1, 2013	B		N/A		50.0		50.0
	KKOB FM	Albuquerque, NM		93.3	October 1, 2013	C		4150		21.5		21.5
	KMGA FM	Albuquerque, NM		99.5	October 1, 2013	C		4131		22.5		22.5
	KNML AM	Albuquerque, NM		610	October 1, 2013	B		N/A		5.0		5.0
	KRST FM	Albuquerque, NM		92.3	October 1, 2013	C		4160		22.0		22.0
	KTBL AM	Los Ranchos, NM		1050	October 1, 2013	B		N/A		1.0		1.0
	KDRF FM	Albuquerque, NM		103.3	October 1, 2013	C		4424		20.0		20.0
Allentown, PA	WCTO FM	Easton, PA		96.1	August 1, 2014	B		499		50.0		50.0
	WLEV FM	Allentown, PA		100.7	August 1, 2014	B		1073		11.0		11.0
Amarillo, TX	KARX FM	Claude, TX		95.7	August 1, 2013	C1		390		100.0		100.0
	KPUR AM	Amarillo, TX		1440	August 1, 2013	B		N/A		5.0		1.0
	KPUR FM	Canyon, TX		107.1	August 1, 2013	A		315		6.0		6.0
	KQIZ FM	Amarillo, TX		93.1	August 1, 2013	C1		699		100.0		100.0
	KZRK AM	Canyon, TX		1550	August 1, 2013	B		N/A		1.0		0.2
	KZRK FM	Canyon, TX		107.9	August 1, 2013	C1		476		100.0		100.0
Ann Arbor, MI	WLBY AM	Saline, MI		1290	October 1, 2020	D		N/A		0.5		0.0
	WQKL FM	Ann Arbor, MI		107.1	October 1, 2020	A		289		3.0		3.0
	WTKA AM	Ann Arbor, MI		1050	October 1, 2020	B		N/A		10.0		0.5
	WWWW FM	Ann Arbor, MI		102.9	October 1, 2020	B		440		50.0		50.0
Appleton, WI	WNAM AM	Neenah Menasha, WI		1280	December 1, 2020	B		N/A		5.0		5.0
	WOSH AM	Oshkosh, WI		1490	December 1, 2020	C		N/A		1.0		1.0
	WPKR FM	Omro, WI		99.5	December 1, 2020	C2		495		25.0		25.0
	WVBO FM	Winneconne, WI		103.9	December 1, 2020	C3		328		25.0		25.0
Atlanta, GA	WKHX FM	Marietta, GA		101.5	April 1, 2020	C0		1079		100.0		100.0
	WYAY FM	Gainesville, GA		106.7	April 1, 2020	C		1657		77.0		77.0
	WWWQ FM	Atlanta, GA		99.7	April 1, 2020	C0		116		96.6		96.6
	WNNX FM	College Park, GA		100.5	April 1, 2020	C2		978		12.5		12.5
Baton Rouge, LA	KQXL FM	New Roads, LA		106.5	June 1, 2020	C2		486		50.0		50.0
	WCDV FM	Hammond, LA		103.3	June 1, 2020	C		1004		100.0		100.0
	WEMX FM	Kentwood, LA		94.1	June 1, 2020	C1		981		100.0		100.0
	WIBR AM	Baton Rouge, LA		1300	June 1, 2020	B		N/A		5.0		1.0
	WXOK AM	Port Allen, LA		1460	June 1, 2020	B		N/A		4.7		0.3
Battle Creek, MI	WBCK FM	Battle Creek, MI		95.3	October 1, 2020	A		269		3.0		3.0
	WBXX FM	Marshall, MI		104.9	October 1, 2020	A		328		6.0		6.0


Market	Stations	City of License	Frequency		Expiration Date of License	FCC Class	Height Above Average Terrain (in feet)		Power (in Kilowatts)
Market	Stations	City of License	Frequency		Expiration Date of License	FCC Class	Height Above Average Terrain (in feet)		Day		Night
Beaumont, TX	KAYD FM	Silsbee, TX		101.7	August 1, 2013	C3		503		10.5		10.5
	KBED AM	Nederland, TX		1510	August 1, 2013	D		N/A		5.0		0.0
	KIKR AM	Beaumont, TX		1450	August 1, 2013	C		N/A		1.0		1.0
	KQXY FM	Beaumont, TX		94.1	August 1, 2013	C1		600		100.0		100.0
	KSTB FM	Crystal Beach, TX		101.5	August 1, 2013	A		184		6.0		6.0
	KTCX FM	Beaumont, TX		102.5	August 1, 2013	C2		492		50.0		50.0
Birmingham, AL	WAPI AM	Birmingham, AL		1070	April 1, 2020	B		N/A		50.0		5.0
	WJOX AM	Birmingham, AL		690	April 1, 2020	B		N/A		50.0		0.5
	WAPI FM	Helena, AL		100.5	April 1, 2020	C1		1014		69.0		69.0
	WUHT FM	Birmingham, AL		107.7	April 1, 2020	C1		1345		42.0		42.0
	WJOX FM	Birmingham, AL		94.5	April 1, 2020	C0		1014		100.0		100.0
	WZRR FM	Birmingham, AL		99.5	April 1, 2020	C0		1014		100.0		100.0
Boise, ID	KBOI AM	Boise, ID		670	October 1, 2013	B		N/A		1.0		0.3
	KIZN FM	Boise, ID		92.3	October 1, 2013	C		2717		48.0		48.0
	KKGL FM	Nampa, ID		96.9	October 1, 2013	C		2717		48.0		48.0
	KQFC FM	Boise, ID		97.9	October 1, 2013	C		2717		48.0		48.0
	KTIK FM	New Plymouth, ID		93.1	October 1, 2013	C		2536		5.0		5.0
	KTIK AM	Nampa, ID		1350	October 1, 2013	B		N/A		50.0		50.0
Blacksburg, VA	WBRW FM	Blacksburg, VA		105.3	October 1, 2019	C3		479		12.0		12.0
	WFNR AM	Blacksburg, VA		710	October 1, 2019	D		N/A		10.0		0.0
	WNMX FM	Christiansburg, VA		100.7	October 1, 2019	A		886		0.8		0.8
	WPSK FM	Pulaski, VA		107.1	October 1, 2019	C3		1207		1.8		1.8
	WRAD AM	Radford, VA		1460	October 1, 2019	B		N/A		5.0		0.5
	WWBU FM	Radford, VA		101.7	October 1, 2019	A		66		5.8		5.8
Bloomington, IN	WBNQ FM	Bloomington, IN		101.5	December 1, 2020	B		465		50.0		50.0
	WBWN FM	Le Roy, IN		104.1	December 1, 2020	B1		413		0.8		0.8
	WJBC AM	Bloomington, IN		1230	December 1, 2020	C		N/A		1.0		1.0
	WJBC FM	Bloomington, IN		93.7	December 1, 2020	B1		472		12.0		12.0
Bridgeport, CT	WEBE FM	Westport, CT		107.9	April 1, 2014	B		384		50.0		50.0
	WICC AM	Bridgeport, CT		600	April 1, 2014	B		N/A		1.0		0.5
Buffalo, NY	WEDG FM	Buffalo, NY		103.3	June 1, 2014	B		348		49.0		49.0
	WGRF FM	Buffalo, NY		96.9	June 1, 2014	B		712		24.0		24.0
	WHLD AM	Niagra Falls, NY		1270	June 1, 2014	B		N/A		5.0		1.0
	WHTT FM	Buffalo, NY		104.1	June 1, 2014	B		387		50.0		50.0
	WBBF AM	Buffalo, NY		1120	June 1, 2014	D		N/A		1.0		0.0
Canton, OH	WRQK FM	Canton, OH		106.9	October 1, 2012	B		338		27.5		27.5
Cedar Rapids, IA	KDAT FM	Cedar Rapids, IA		104.5	February 1, 2021	C1		551		100.0		100.0
	KHAK FM	Cedar Rapids, IA		98.1	February 1, 2021	C1		459		100.0		100.0
	KRNA FM	Iowa City, IA		94.1	February 1, 2021	C1		981		100.0		100.0
	KRQN FM	Vinton, IA		107.1	February 1, 2021	A		371		4.7		4.7
Charleston, SC	WSSX FM	Charleston, SC		95.1	December 1, 2019	C0		1001		100.0		100.0
	WIWF FM	Charleston, SC		96.9	December 1, 2019	C		1768		100.0		100.0
	WTMA AM	Charleston, SC		1250	December 1, 2011	B		N/A		5.0		1.0
	WWWZ FM	Summerville, SC		93.3	December 1, 2019	C2		492		50.0		50.0
Chattanooga, TN	WGOW AM	Chattanooga, TN		1150	August 1, 2020	B		N/A		5.0		1.0
	WGOW FM	Soddy-Daisy, TN		102.3	August 1, 2020	A		285		6.0		6.0
	WOGT FM	East Ridge, TN		107.9	August 1, 2020	C3		328		25.0		25.0
	WSKZ FM	Chattanooga, TN		106.5	August 1, 2020	C		1079		100.0		100.0
Chicago, IL	WLS AM	Chicago, IL		890	December 1, 2012	A		N/A		50.0		50.0
	WLS FM	Chicago, IL		94.7	December 1, 2012	B		1535		4.4		4.4
	WJEZ FM	Dwight, IL		98.9	December 1, 2020	A		488		1.3		1.3
Cincinnati, OH	WNNF FM	Cincinnati, OH		94.1	October 1, 2020	B		866		16.0		16.0
	WOFX FM	Cincinnati, OH		92.5	October 1, 2020	B		866		16.0		16.0
	WRRM FM	Cincinnati, OH		98.5	October 1, 2020	B		807		18.0		18.0
	WGRR FM	Hamilton, OH		103.5	October 1, 2020	B		1037		11.0		11.0
	WFTK FM	Lebanon, OH		96.5	October 1, 2020	B		810		19.5		19.5


Market	Stations	City of License	Frequency		Expiration Date of License	FCC Class	Height Above Average Terrain (in feet)		Power (in Kilowatts)
Market	Stations	City of License	Frequency		Expiration Date of License	FCC Class	Height Above Average Terrain (in feet)		Day		Night
Colorado Springs, CO	KKFM FM	Colorado Springs, CO		98.1	April 1, 2013	C		2290		71.0		71.0
	KKMG FM	Pueblo, CO		98.9	April 1, 2013	C		2280		72.0		72.0
	KKPK FM	Colorado Springs, CO		92.9	April 1, 2013	C		2198		60.0		60.0
	KCSF AM	Colorado Springs, CO		1300	April 1, 2013	B		N/A		5.0		1.0
	KVOR AM	Colorado Springs, CO		740	April 1, 2013	B		N/A		3.3		1.5
	KATC FM	Colorado Springs, CO		95.1	April 1, 2013	C		2280		58.0		58.0
Columbia, MO	KBBM FM	Jefferson City, MO		100.1	February 1, 2021	C2		600		33.0		33.0
	KBXR FM	Columbia, MO		102.3	February 1, 2021	C3		856		3.5		3.5
	KFRU AM	Columbia, MO		1400	February 1, 2021	C		N/A		1.0		1.0
	KJMO FM	Linn, Mo		97.5	February 1, 2021	A		328		6.0		6.0
	KLIK AM	Jefferson City, MO		1240	February 1, 2021	C		N/A		1.0		1.0
	KOQL FM	Ashland, MO		106.1	February 1, 2021	C1		958		69.0		69.0
	KPLA FM	Columbia, MO		101.5	February 1, 2021	C1		1063		42.0		42.0
	KZJF FM	Jefferson City, MO		104.1	April 1, 2021	A		348		5.3		5.3
Columbia, SC	WISW AM	Columbia, SC		1320	December 1, 2019	B		N/A		5.0		2.5
	WLXC FM	Columbia, SC		103.1	December 1, 2019	A		308		6.0		6.0
	WNKT FM	Eastover, SC		107.5	December 1, 2019	C2		548		40.0		40.0
	WOMG FM	Lexington, SC		98.5	December 1, 2019	A		325		6.0		6.0
	WTCB FM	Orangeburg, SC		106.7	December 1, 2019	C1		787		100.0		100.0
Columbus-Starkville, MS	WJWF AM	Columbus, MS		1400	June 1, 2020	C		N/A		1.0		1.0
	WKOR FM	Columbus, MS		94.9	June 1, 2020	C2		492		50.0		50.0
	WMXU FM	Starkville, MS		106.1	June 1, 2020	C2		502		40.0		40.0
	WNMQ FM	Columbus, MS		103.1	June 1, 2020	C2		755		22.0		22.0
	WSMS FM	Artesia, MS		99.9	June 1, 2020	C2		505		47.0		47.0
	WSSO AM	Starkville, MS		1230	June 1, 2020	C		N/A		1.0		1.0
Dallas, TX	WBAP AM	Fort Worth, TX		820	August 1, 2013	A		N/A		50.0		50.0
	WBAP FM	Flower Mound, TX		96.7	August 1, 2013	C		2038		90.0		90.0
	KSCS FM	Fort Worth, TX		96.3	August 1, 2013	C		1611		99.0		99.0
	KLIF AM	Dallas, TX		570	August 1, 2013	B		N/A		5.0		5.0
	KPLX FM	Fort Worth, TX		99.5	August 1, 2013	C		1677		100.0		100.0
	KLIF FM	Haltom, TX		93.9	August 1, 2013	C2		394		50.0		50.0
	KTCK AM	Dallas, TX		1310	August 1, 2013	B		N/A		25.0		5.0
	KTDK FM	Sanger, TX		104.1	August 1, 2013	C3		630		6.2		6.2
Danbury, CT	WDBY FM	Patterson, NY		105.5	June 1, 2014	A		610		0.9		0.9
	WINE AM	Brookfield, CT		940	April 1, 2014	D		N/A		0.7		0.0
	WPUT AM	Brewster, NY		1510	June 1, 2014	D		N/A		1.0		0.0
	WRKI FM	Brookfield, CT		95.1	April 1, 2014	B		636		29.5		29.5
Des Moines, IA	KBGG AM	Des Moines, IA		1700	February 1, 2021	B		N/A		10.0		1.0
	KHKI FM	Des Moines, IA		97.3	February 1, 2021	C1		469		105.0		105.0
	KGGO FM	Des Moines, IA		94.9	February 1, 2013	C0		1066		100.0		100.0
	KJJY FM	West Des Moines, IA		92.5	February 1, 2020	C2		541		41.0		41.0
	KWQW FM	Boone, IA		98.3	February 1, 2020	C2		541		41.0		41.0
Detroit, MI	WJR AM	Detroit, MI		760	October 1, 2012	A		N/A		50.0		50.0
	WDVD FM	Detroit, MI		96.3	October 1, 2020	B		787		20.0		20.0
	WDRQ FM	Detroit, MI		93.1	October 1, 2020	B		669		26.5		26.5
Dubuque, IA	KLYV FM	Dubuque, IA		105.3	February 1, 2021	C2		348		50.0		50.0
	KXGE FM	Dubuque, IA		102.3	February 1, 2021	A		308		2.0		2.0
	WDBQ AM	Dubuque, IA		1490	February 1, 2013	C		N/A		1.0		1.0
	WDBQ FM	Galena, IL		107.5	December 1, 2020	A		328		6.0		6.0
	WJOD FM	Asbury, IA		103.3	February 1, 2021	C3		643		6.6		6.6
Erie, PA	WXKC FM	Erie, PA		99.9	August 1, 2014	B		492		50.0		50.0
	WXTA FM	Edinboro, PA		97.9	August 1, 2014	B1		505		10.0		10.0
	WRIE AM	Erie, PA		1260	August 1, 2014	B		N/A		5.0		5.0
	WQHZ FM	Erie, PA		102.3	August 1, 2014	A		617		1.7		1.7


Market	Stations	City of License	Frequency		Expiration Date of License	FCC Class	Height Above Average Terrain (in feet)		Power (in Kilowatts)
Market	Stations	City of License	Frequency		Expiration Date of License	FCC Class	Height Above Average Terrain (in feet)		Day		Night
Eugene, OR	KEHK FM	Brownsville, OR		102.3	February 1, 2014	C1		919		100.0		100.0
	KNRQ FM	Aloha, OR		97.9	February 1, 2014	C		1011		100.0		100.0
	KSCR AM	Eugene, OR		1320	February 1, 2014	D		N/A		1.0		0.0
	KUGN AM	Eugene, OR		590	February 1, 2014	B		N/A		5.0		5.0
	KUJZ FM	Creswell, OR		95.3	February 1, 2014	C3		1207		0.6		0.6
	KZEL FM	Eugene, OR		96.1	February 1, 2014	C		1093		100.0		100.0
Faribault-Owatonna, MN	KDHL AM	Faribault, MN		920	April 1, 2013	B		N/A		5.0		5.0
	KQCL FM	Faribault, MN		95.9	April 1, 2013	A		328		3.0		3.0
	KRFO AM	Owatonna, MN		1390	April 1, 2013	D		N/A		0.5		0.1
	KRFO FM	Owatonna, MN		104.9	April 1, 2013	A		174		4.7		4.7
Fayetteville, AR	KAMO FM	Rogers, AR		94.3	June 1, 2020	C2		692		25.0		25.0
	KFAY AM	Farmington, AR		1030	June 1, 2020	B		N/A		10.0		1.0
	KQSM FM	Fayetteville, AR		92.1	June 1, 2020	C3		532		7.6		7.6
	KMCK FM	Prairie Grove, AR		105.7	June 1, 2020	C1		476		100.0		100.0
	KKEG FM	Bentonville, AR		98.3	June 1, 2020	C1		617		100.0		100.0
	KYNG AM	Springdale, AR		1590	June 1, 2020	D		N/A		2.5		0.1
Fayetteville, NC	WFNC AM	Fayetteville, NC		640	December 1, 2019	B		N/A		10.0		1.0
	WFVL FM	Lumberton, NC		102.3	December 1, 2019	A		269		6.0		6.0
	WMGU FM	Southern Pines, NC		106.9	December 1, 2019	C2		469		50.0		50.0
	WQSM FM	Fayetteville, NC		98.1	December 1, 2019	C1		830		100.0		100.0
	WRCQ FM	Dunn, NC		103.5	December 1, 2019	C2		502		48.0		48.0
Flint, MI	WDZZ FM	Flint, MI		92.7	October 1, 2012	A		328		3.0		3.0
	WWCK AM	Flint, MI		1570	October 1, 2020	D		N/A		1.0		0.2
	WWCK FM	Flint, MI		105.5	October 1, 2020	B1		328		25.0		25.0
	WFBE FM	Flint, MI		95.1	October 1, 2020	B		318		34.0		34.0
	WTRX AM	Flint, MI		1330	October 1, 2020	B		N/A		5.0		1.0
Florence, SC	WBZF FM	Hartsville, SC		98.5	December 1, 2019	A		328		6.0		6.0
	WCMG FM	Latta, SC		94.3	December 1, 2019	C3		502		10.5		10.5
	WHLZ FM	Marion, SC		100.5	December 1, 2019	C3		328		25.0		25.0
	WMXT FM	Pamplico, SC		102.1	December 1, 2019	C2		479		50.0		49.4
	WWFN FM	Lake City, SC		100.1	December 1, 2019	A		433		3.3		3.3
	WYMB AM	Manning, SC		920	December 1, 2019	B		N/A		2.3		1.0
	WYNN AM	Florence, SC		540	December 1, 2019	D		N/A		0.3		0.2
	WYNN FM	Florence, SC		106.3	December 1, 2019	A		328		6.0		6.0
Fort Smith, AR	KBBQ FM	Van Buren, AR		102.7	June 1, 2020	C2		574		17.0		17.0
	KLSZ FM	Fort Smith, AR		100.7	June 1, 2020	C2		459		50.0		50.0
	KOAI AM	Van Buren, AR		1060	June 1, 2012	D		N/A		0.5		0.0
	KOMS FM	Poteau, OK		107.3	June 1, 2013	C		1893		100.0		100.0
Fort Walton Beach, FL	WFTW AM	Ft Walton Beach, FL		1260	February 1, 2020	D		N/A		2.5		0.1
	WKSM FM	Ft Walton Beach, FL		99.5	February 1, 2020	C2		438		50.0		50.0
	WNCV FM	Shalimar, FL		93.3	February 1, 2020	C2		469		50.0		50.0
	WYZB FM	Mary Esther, FL		105.5	February 1, 2020	C3		305		25.0		25.0
	WZNS FM	Ft Walton Beach, FL		96.5	February 1, 2020	C1		438		100.0		100.0
Grand Rapids, MI	WJRW AM	Grand Rapids, MI		1340	October 1, 2020	C		N/A		1.0		1.0
	WTNR FM	Holland, MI		94.5	October 1, 2020	B		499		50.0		50.0
	WLAV FM	Grand Rapids, MI		96.9	October 1, 2020	B		489		50.0		50.0
	WBBL FM	Greenville, MI		107.3	October 1, 2020	B		492		50.0		50.0
	WHTS FM	Coopersville, MI		105.3	October 1, 2020	B		794		20.0		20.0
Green Bay, WI	WDUZ AM	Green Bay, WI		1400	December 1, 2020	C		N/A		1.0		1.0
	WDUZ FM	Brillion, WI		107.5	December 1, 2020	C3		879		3.6		3.6
	WKRU FM	Allouez, WI		106.7	December 1, 2020	C3		328		25.0		25.0
	WOGB FM	Kaukauna, WI		103.1	December 1, 2020	C3		879		3.6		3.6
	WPCK FM	Denmark, WI		104.9	December 1, 2020	A		515		10.0		10.0
	WQLH FM	Green Bay, WI		98.5	December 1, 2020	C1		499		100.0		100.0


Market	Stations	City of License	Frequency		Expiration Date of License	FCC Class		Height Above Average Terrain (in feet)		Power (in Kilowatts)
Market	Stations	City of License	Frequency		Expiration Date of License	FCC Class		Height Above Average Terrain (in feet)		Day		Night
Harrisburg, PA	WHGB AM	Harrisburg, PA		1400	August 1, 2014		C		N/A		1.0		1.0
	WNNK FM	Harrisburg, PA		104.1	August 1, 2014		B		725		22.5		22.5
	WWKL FM	Mechanicsburg, PA		93.5	August 1, 2014		A		719		1.3		1.3
	WDVY FM	Hershey, PA		106.7	August 1, 2014		B		929		14.0		14.0
	WQXA FM	York, PA		105.7	August 1, 2014		B		705		25.0		25.0
Houston, TX	KRBE FM	Houston, TX		104.1	August 1, 2013		C		1919		92.2		92.2
Huntsville, AL	WHRP FM	Gurley, AL		94.1	April 1, 2020		A		945		0.7		0.7
	WUMP AM	Madison, AL		730	April 1, 2020		D		N/A		1.0		0.1
	WVNN AM	Athens, AL		770	April 1, 2020		B		N/A		7.0		0.3
	WVNN FM	Trinity, AL		92.5	April 1, 2020		A		423		3.1		3.1
	WWFF FM	New Market, AL		93.3	April 1, 2020		C2		914		14.5		14.5
	WZYP FM	Athens, AL		104.3	April 1, 2020		C		1116		100.0		100.0
Indianapolis, IN	WJJK FM	Noblesville, IN		104.5	August 1, 2020		B		492		50.0		50.0
	WAYI FM	Sellersburg, IN		93.9	August 1, 2020		A		499		2.7		2.7
	WFMS FM	Fishers, IN		95.5	August 1, 2020		B		991		13.0		13.0
Johnson City, TN	WXSM AM	Blountville, TN		640	August 1, 2020		B		N/A		10.0		0.8
	WJCW AM	Johnson City, TN		910	August 1, 2020		B		N/A		5.0		0.1
	WGOC AM	Kingsport, TN		1320	August 1, 2020		B		N/A		5.0		0.5
	WKOS FM	Kingsport, TN		104.9	August 1, 2020		A		492		2.8		2.8
	WQUT FM	Johnson City, TN		101.5	August 1, 2020		C		1499		100.0		100.0
Kalamazoo, MI	WKFR FM	Battle Creek, MI		103.3	October 1, 2020		B		482		50.0		50.0
	WKMI AM	Kalamazoo, MI		1360	October 1, 2020		B		N/A		5.0		1.0
	WRKR FM	Portage, MI		107.7	October 1, 2020		B		486		50.0		50.0
Kansas City, MO	KCFX FM	Harrisonville, MO		101.1	February 1, 2021		C0		1099		100.0		100.0
	KCHZ FM	Ottowa, KS		95.7	June 1, 2013		C1		981		98.0		98.0
	KCJK FM	Garden City, MO		105.1	February 1, 2021		C1		1145		69.0		69.0
	KCMO AM	Kansas City, MO		710	February 1, 2021		B		N/A		10.0		5.0
	KMJK FM	North Kansas City, MO		107.3	February 1, 2021		C1		980		100.0		100.0
	KCMO FM	Shawnee, KS		94.9	June 1, 2013		C0		1119		100.0		100.0
Knoxville, TN	WIVK FM	Knoxville, TN		107.7	August 1, 2020		C		2077		91.0		91.0
	WNML AM	Knoxville, TN		990	August 1, 2020		B		N/A		10.0		10.0
	WNML FM	Friendsville, TN		99.1	August 1, 2020		A		328		6.0		6.0
	WOKI FM	Oliver Springs, TN		98.7	August 1, 2020		C3		571		8.0		8.0
	WNRX FM	Jefferson City, TN		99.3	August 1, 2020		A		653		0.9		0.9
Kokomo, IN	WWKI FM	Kokomo, IN		100.5	August 1, 2020		B		469		50.0		50.0
Lafayette, LA	KNEK AM	Washington, LA		1190	June 1, 2020		D		N/A		0.3		0.0
	KRRQ FM	Lafayette, LA		95.5	June 1, 2020		C2		443		50.0		50.0
	KSMB FM	Lafayette, LA		94.5	June 1, 2020		C		1079		100.0		100.0
	KXKC FM	New Iberia, LA		99.1	June 1, 2020		C0		984		100.0		100.0
	KNEK FM	Washington, LA		104.7	June 1, 2020		C3		328		25.0		25.0
Lake Charles, LA	KAOK AM	Lake Charles, LA		1400	June, 1 2020		C		N/A		1.0		1.0
	KBIU FM	Lake Charles, LA		103.3	June 1, 2020		C2		479		35.0		35.0
	KKGB FM	Sulphur, LA		101.3	June 1, 2020		C3		479		12.0		12.0
	KQLK FM	DeRidder, LA		97.9	June 1, 2012		C2		492		50.0		50.0
	KXZZ AM	Lake Charles, LA		1580	June 1, 2020		B		N/A		1.0		1.0
	KYKZ FM	Lake Charles, LA		96.1	June 1, 2020		C1		479		100.0		100.0
Lancaster, PA	WIOV FM	Ephrata, PA		105.1	August 1, 2014		B		702		25.0		25.0
	WIOV AM	Reading, PA		1240	August 1, 2014		C		N/A		1.0		1.0
Lansing, MI	WFMK FM	East Lansing, MI		99.1	October 1, 2020		B		600		28.0		28.0
	WITL FM	Lansing, MI		100.7	October 1, 2020		B		643		26.5		26.5
	WJIM AM	Lansing, MI		1240	October 1, 2020		C		N/A		0.9		0.9
	WJIM FM	Lansing, MI		97.5	October 1, 2020		B		512		45.0		45.0
	WMMQ FM	East Lansing, MI		94.9	October 1, 2020		B		492		50.0		50.0
	WVFN AM	East Lansing, MI		730	October 1, 2020		D		N/A		0.5		0.1


Market	Stations	City of License	Frequency		Expiration Date of License	FCC Class		Height Above Average Terrain (in feet)		Power (in Kilowatts)
Market	Stations	City of License	Frequency		Expiration Date of License	FCC Class		Height Above Average Terrain (in feet)		Day		Night
Lexington, KY	WCYN-FM	Cynthiana, KY		102.3	August 1, 2020		A		400		3.4		3.4
	WLTO FM	Nicholasville, KY		102.5	August 1, 2020		A		373		4.6		4.6
	WLXX FM	Lexington, KY		92.9	August 1, 2020		C1		850		100.0		100.0
	WVLK AM	Lexington, KY		590	August 1, 2020		B		N/A		5.0		1.0
	WVLK FM	Richmond, KY		101.5	August 1, 2020		C3		541		9.0		9.0
	WXZZ FM	Georgetown, KY		103.3	August 1, 2020		A		328		6.0		6.0
Little Rock, AR	KAAY AM	Little Rock, AR		1090	June 1, 2020		A		N/A		50.0		50.0
	KARN AM	Little Rock, AR		920	June 1, 2012		B		N/A		5.0		5.0
	KIPR FM	Pine Bluff, AR		92.3	June 1, 2020		C1		938		100.0		100.0
	KLAL FM	Wrightsville, AR		107.7	June 1, 2020		C1		742		100.0		100.0
	KPZK AM	Little Rock, AR		1250	June 1, 2020		B		N/A		2.0		1.2
	KURB FM	Little Rock, AR		98.5	June 1, 2020		C0		1286		100.0		100.0
	KARN FM	Sheridan, AR		102.9	June 1, 2020		C2		492		50.0		50.0
Los Angeles, CA	KABC AM	Los Angeles, CA		790	December 1, 2013		B		N/A		5.0		5.0
	KLOS FM	Los Angeles, CA		95.5	December 1, 2013		B		3130		63.0		63.0
Macon, GA	WAYS AM	Macon, GA		1500	April 1, 2020		D		N/A		1.0		0.0
	WDDO AM	Macon, GA		1240	April 1, 2020		C		N/A		1.0		1.0
	WDEN FM	Macon, GA		99.1	April 1, 2020		C1		581		100.0		100.0
	WROK FM	Macon, GA		105.5	April 1, 2020		C3		659		6.1		6.1
	WLZN FM	Macon, GA		92.3	April 1, 2020		A		328		3.0		3.0
	WMAC AM	Macon, GA		940	April 1, 2020		B		N/A		50.0		10.0
	WMGB FM	Montezuma, GA		95.1	April 1, 2020		C2		390		46.0		46.0
	WPEZ FM	Jeffersonville, GA		93.7	April 1, 2020		C1		679		100.0		100.0
Melbourne, FL	WAOA FM	Melbourne, FL		107.1	February 1, 2020		C1		486		100.0		100.0
	WHKR FM	Rockledge, FL		102.7	February 1, 2012		C2		433		50.0		50.0
	WINT AM	Melbourne, FL		1560	February 1, 2012		D		N/A		5.0		0.0
	WSJZ FM	Sebastian, FL		95.9	February 1, 2020		C3		289		25.0		25.0
Memphis, TN	WRBO FM	Como, MS		103.5	June 1, 2012		C1		587		100.0		100.0
	WGKX FM	Memphis, TN		105.9	August 1, 2012		C		993		100.0		100.0
	WXMX FM	Millington, TN		98.1	August 1, 2012		C1		869		100.0		100.0
	WKIM FM	Munford, TN		98.9	August 1, 2012		C1		614		100.0		100.0
Minneapolis, MN	KQRS FM	Golden Valley, MN		92.5	April 1, 2013		C		1034		100.0		100.0
	KXXR FM	Minneapolis, MN		93.7	April 1, 2013		C		1034		100.0		100.0
	WGVX FM	Lakeville, MN		105.1	April 1, 2013		A		499		2.6		2.6
	WGVY FM	Cambridge, MN		105.3	April 1, 2013		C3		299		25.0		25.0
	WGVZ FM	Eden Prarie, MN		105.7	April 1, 2013		A		833		1.0		1.0
Mobile, AL	WBLX FM	Mobile, AL		92.9	April 1, 2012		C		1708		98.0		98.0
	WDLT FM	Chickasaw, AL		98.3	April 1, 2020		C2		548		40.0		40.0
	WGOK AM	Mobile, AL		900	April 1, 2020		B		N/A		1.0		0.4
	WXQW AM	Fairhope, AL		660	April 1, 2020		B		N/A		10.0		0.9
	WABD FM	Atmore, AL		104.1	April 1, 2020		C		1708		98.0		98.0
Modesto, CA	KATM FM	Modesto, CA		103.3	December 1, 2013		B		499		50.0		50.0
	KDJK FM	Mariposa, CA		103.9	December 1, 2013		A		2047		0.1		0.1
	KESP AM	Modesto, CA		970	December 1, 2013		B		N/A		1.0		1.0
	KHKK FM	Modesto, CA		104.1	December 1, 2013		B		499		50.0		50.0
	KHOP FM	Oakdale, CA		95.1	December 1, 2013		B		633		29.5		29.5
	KWNN FM	Turlock, CA		98.3	December 1, 2013		A		390		2.0		2.0
Muncie, IN	WLTI AM	New Castle, IN		1550	August 1, 2020		B		N/A		0.3		0.3
	WMDH FM	New Castle, IN		102.5	August 1, 2020		B		499		50.0		50.0
Muskegon, MI	WLCS FM	North Muskegon, MI		98.3	October 1, 2020		A		456		1.6		1.6
	WKLQ AM	Whitehall, MI		1490	October 1, 2020		C		N/A		1.0		1.0
	WVIB FM	Holton, MI		100.1	October 1, 2020		A		472		2.9		2.9
	WLAW FM	Newaygo, MI		92.5	October 1, 2020		A		541		2.3		2.3
	WWSN FM	Whitehall, MI		97.5	October 1, 2020		A		427		1.7		1.7


Market	Stations	City of License	Frequency		Expiration Date of License	FCC Class	Height Above Average Terrain (in feet)		Power (in Kilowatts)
Market	Stations	City of License	Frequency		Expiration Date of License	FCC Class	Height Above Average Terrain (in feet)		Day		Night
Montgomery, AL	WHHY FM	Montgomery, AL		101.9	April 1, 2020	C0		1096		100.0		100.0
	WLWI AM	Montgomery, AL		1440	April 1, 2020	B		N/A		5.0		1.0
	WLWI FM	Montgomery, AL		92.3	April 1, 2020	C0		1096		100.0		100.0
	WMSP AM	Montgomery, AL		740	April 1, 2020	B		N/A		10.0		0.2
	WMXS FM	Montgomery, AL		103.3	April 1, 2020	C		1096		100.0		100.0
	WXFX FM	Prattville, AL		95.1	April 1, 2020	C2		1095		5.4		5.4
Myrtle Beach, SC	WDAI FM	Pawley’s Island, SC		98.5	December 1, 2011	C3		666		6.1		6.1
	WTOD AM	Hartsfield, SC		1450	December 1, 2011	C		N/A		1.0		1.0
	WLFF FM	Georgetown, SC		106.5	December 1, 2011	C2		492		50.0		50.0
	WSEA FM	Atlantic Beach, SC		100.3	December 1, 2011	C3		476		12.0		12.0
	WSYN FM	Surfside Beach, SC		103.1	December 1, 2011	C3		528		8.0		8.0
	WHSC AM	Conway, SC		1050	December 1, 2011	B		N/A		5.0		0.5
Nashville, TN	WQQK FM	Goodlettsville, TN		92.1	August 1, 2012	A		461		3.1		3.1
	WSM FM	Nashville, TN		95.5	August 1, 2020	C		1230		100.0		100.0
	WWTN FM	Hendersonville, TN		99.7	August 1, 2012	C0		1296		100.0		100.0
	WGFX FM	Gallatin, TX		104.5	August 1, 2012	C1		1207		58.0		58.0
	WKDF FM	Nashville, TN		103.3	August 1, 2012	C0		1234		100.0		100.0
	WLVU FM	Nashville, TN		97.1	August 1, 2020	C2		512		44.4		44.4
New London, CT	WQGN-FM	Groton, CT		105.5	April 1, 2014	A		276		3.0		3.0
	WXLM AM	Groton, CT		980	April 1, 2014	D		N/A		1.0		0.1
	WMOS FM	Stonington, CT		102.3	April 1, 2014	A		345		5.4		5.4
New Orleans, LA	KMEZ FM	Port Sulphur, LA		106.7	June 1, 2020	C1		981		100.0		100.0
	KKND FM	Belle Chasse, LA		102.9	June 1, 2020	C3		604		4.7		4.7
	WRKN FM	Laplace, LA		92.3	June 1, 2020	C		1946		100.0		100.0
	WMTI FM	Picayune, MS		106.1	June 1, 2020	C2		659		28.0		28.0
New York, NY	WABC AM	New York, NY		770	June 1, 2014	A		N/A		50.0		50.0
	WPLJ FM	New York, NY		95.5	June 1, 2014	B		1339		6.7		6.7
Oklahoma City, OK	KATT FM	Oklahoma City, OK		100.5	June 1, 2013	C1		1542		28.9		28.9
	KKWD FM	Bethany, OK		104.9	June 1, 2013	A		328		6.0		6.0
	WWLS FM	The Village, OK		98.1	June 1, 2013	C1		1542		28.9		28.9
	KQOB FM	Enid, OK		96.9	June 1, 2013	C		1480		98.0		98.0
	KYIS FM	Oklahoma City, OK		98.9	June 1, 2013	C		1542		100.0		100.0
	WWLS AM	Moore, OK		640	June 1, 2013	B		N/A		5.0		1.0
	WKY AM	Oklahoma City, OK		930	June 1, 2013	B		N/A		5.0		5.0
Oxnard-Ventura, CA	KBBY FM	Ventura, CA		95.1	December 1, 2013	B		876		12.5		12.5
	KHAY FM	Ventura, CA		100.7	December 1, 2013	B		1211		39.0		39.0
	KVEN AM	Ventura, CA		1450	December 1, 2013	C		N/A		1.0		1.0
	KVYB FM	Santa Barbara, CA		103.3	December 1, 2013	B		2969		105.0		105.0
Pensacola, FL	WCOA AM	Pensacola, FL		1370	February 1, 2020	B		N/A		5.0		5.0
	WJLQ FM	Pensacola, FL		100.7	February 1, 2020	C		1708		98.0		98.0
	WRRX FM	Gulf Breeze, FL		106.1	February 1, 2020	A		407		3.9		3.9
Portland, ME	WBLM FM	Portland, ME		102.9	April 1, 2014	C0		1427		100.0		100.0
	WCYY FM	Biddeford, ME		94.3	April 1, 2014	B1		482		11.5		11.5
	WHOM FM	Mount Washington, NH		94.9	April 1, 2014	C		3744		48.0		48.0
	WJBQ FM	Portland, ME		97.9	April 1, 2014	B		889		16.0		16.0
Portsmouth, NH	WOKQ FM	Dover, NH		97.5	April 1, 2014	B		492		50.0		50.0
	WPKQ FM	North Conway, NH		103.7	April 1, 2014	C		3803		21.5		21.5
	WSAK FM	Hampton, NH		102.1	April 1, 2014	A		328		3.0		3.0
	WSHK FM	Kittery, ME		105.3	April 1, 2014	A		371		2.2		2.2


Market	Stations	City of License	Frequency		Expiration Date of License	FCC Class	Height Above Average Terrain (in feet)		Power (in Kilowatts)
Market	Stations	City of License	Frequency		Expiration Date of License	FCC Class	Height Above Average Terrain (in feet)		Day		Night
Poughkeepsie, NY	WALL AM	Middletown, NY		1340	June 1, 2014	C		N/A		1.0		1.0
	WCZX FM	Hyde Park, NY		97.7	June 1, 2014	A		1030		0.3		0.3
	WEOK AM	Poughkeepsie, NY		1390	June 1, 2014	D		N/A		5.0		0.1
	WKNY AM	Kingston, NY		1490	June 1, 2014	C		N/A		1.0		1.0
	WKXP FM	Kingston, NY		94.3	June 1, 2014	A		545		2.3		2.3
	WPDA FM	Jeffersonville, NY		106.1	June 1, 2014	A		627		1.6		1.6
	WPDH FM	Poughkeepsie, NY		101.5	June 1, 2014	B		1539		4.4		4.4
	WRRB FM	Arlington, NY		96.9	June 1, 2014	A		1007		0.3		0.3
	WRRV FM	Middletown, NY		92.7	June 1, 2014	A		269		6.0		6.0
	WZAD FM	Wurtsboro, NY		97.3	June 1, 2014	A		719		0.6		0.6
Providence, RI	WPRO AM	Providence, RI		630	April 1, 2014	B		N/A		5.0		5.0
	WPRO FM	Providence, RI		92.3	April 1, 2014	B		551		39.0		39.0
	WPRV AM	Providence, RI		790	April 1, 2014	B		N/A		5.0		5.0
	WEAN FM	Wakefield-Peacedale, RI		99.7	April 1, 2014	A		535		2.3		2.3
	WWLI FM	Providence, RI		105.1	April 1, 2014	B		499		50.0		50.0
	WWKX FM	Woonsocket, RI		106.3	April 1, 2014	A		518		1.2		1.2
Quad Cities, IA	KBEA FM	Muscatine, IA		99.7	February 1, 2021	C1		869		100.0		100.0
	KBOB FM	DeWitt, IA		104.9	February 1, 2021	C3		469		12.5		12.5
	KJOC AM	Davenport, IA		1170	February 1, 2021	B		N/A		1.0		1.0
	KQCS FM	Bettendorf, IA		93.5	February 1, 2021	A		318		6.0		6.0
	WXLP FM	Moline, IL		96.9	December 1, 2020	B		499		50.0		50.0
Reno, NV	KBUL FM	Carson City, NV		98.1	October 1, 2013	C		2293		74.0		74.0
	KKOH AM	Reno, NV		780	October 1, 2013	B		N/A		50.0		50.0
	KNEV FM	Reno, NV		95.5	October 1, 2013	C		2280		60.0		60.0
	KWYL FM	South Lake Tahoe, NV		102.9	December 1, 2013	C		2927		39.0		39.0
Rochester, MN	KDCZ FM	Eyota, MN		103.9	April 1, 2013	A		567		1.3		1.3
	KFIL AM	Preston, MN		1060	April 1, 2013	D		N/A		1.0		0.0
	KFIL FM	Chatfield, MN		103.1	April 1, 2013	C3		522		3.5		3.5
	KDZZ FM	Saint Charles, MN		107.7	April 1, 2013	A		571		2.0		2.0
	KOLM AM	Rochester, MN		1520	April 1, 2013	B		N/A		10.0		0.8
	KROC AM	Rochester, MN		1340	April 1, 2013	C		N/A		1.0		1.0
	KROC FM	Rochester, MN		106.9	April 1, 2013	C0		1109		100.0		100.0
	KVGO FM	Spring Valley, MN		104.3	April 1, 2013	C3		512		10.0		10.0
	KWWK FM	Rochester, MN		96.5	April 1, 2013	C2		528		43.0		43.0
	KYBA FM	Stewartville, MN		105.3	April 1, 2013	C2		492		50.0		50.0
Rockford, IL	WKGL FM	Loves Park, IL		96.7	December 1, 2020	A		551		2.2		2.2
	WROK AM	Rockford, IL		1440	December 1, 2020	B		N/A		5.0		0.3
	WXXQ FM	Freeport, IL		98.5	December 1, 2020	B1		492		11.0		11.0
	WZOK FM	Rockford, IL		97.5	December 1, 2020	B		452		50.0		50.0
Saginaw, MI	WHNN FM	Bay City, MI		96.1	October 1, 2012	C		1020		100.0		100.0
	WILZ FM	Saginaw, MI		104.5	October 1, 2012	A		413		2.9		2.9
	WIOG FM	Bay City, MI		102.5	October 1, 2012	B		801		86.0		86.0
	WKQZ FM	Midland, MI		93.3	October 1, 2012	C2		554		39.0		39.0
Salt Lake City, UT	KKAT AM	Salt Lake City, UT		860	October 1, 2013	D		N/A		10.0		0.2
	KBEE FM	Salt Lake City, UT		98.7	October 1, 2013	C		2933		34.5		34.5
	KBER FM	Ogden, UT		101.1	October 1, 2013	C		3740		25.0		25.0
	KENZ FM	Ogden, UT		101.9	October 1, 2013	C		3740		25.0		25.0
	KHTB FM	Provo, UT		94.9	October 1, 2013	C		2799		48.0		48.0
	KFNZ AM	Salt Lake City, UT		1320	October 1, 2013	B		N/A		5.0		5.0
	KJQS AM	Murray, UT		1230	October 1, 2013	C		N/A		1.0		1.0
	KUBL FM	Salt Lake City, UT		93.3	October 1, 2013	C		3740		25.0		25.0


Market	Stations	City of License	Frequency		Expiration Date of License	FCC Class	Height Above Average Terrain (in feet)		Power (in Kilowatts)
Market	Stations	City of License	Frequency		Expiration Date of License	FCC Class	Height Above Average Terrain (in feet)		Day		Night
San Francisco, CA	KGO AM	San Francisco, CA		810	December 1, 2013	A		N/A		50.0		50.0
	KSFO AM	San Francisco, CA		560	December 1, 2013	B		N/A		5.0		5.0
	KFFG FM	Los Gatos, CA		97.7	December 1, 2013	A		410		4.0		4.0
	KFOG FM	San Francisco, CA		104.5	December 1, 2013	B		1506		7.1		7.1
	KNBR AM	San Francisco, CA		680	December 1, 2013	A		N/A		50.0		50.0
	KSAN FM	San Mateo, CA		107.7	December 1, 2013	B		1161		8.9		8.9
	KTCT AM	San Mateo, CA		1050	December 1, 2013	B		N/A		50.0		10.0
Santa Barbara, CA	KRUZ FM	Goleta, CA		97.5	December 1, 2013	B		2920		17.5		17.5
	KRRF FM	Oak View, CA		106.3	December 1, 2013	A		827		0.9		0.9
Savannah, GA	WBMQ AM	Savannah, GA		630	April 1, 2020	D		N/A		4.8		0.0
	WEAS FM	Springfield, GA		93.1	April 1, 2020	C1		981		96.6		96.6
	WIXV FM	Savannah, GA		95.5	April 1, 2020	C1		988		98.0		98.0
	WJCL FM	Savannah, GA		96.5	April 1, 2020	C		1161		100.0		100.0
	WJLG AM	Savannah, GA		900	April 1, 2020	D		N/A		4.4		0.2
	WZAT FM	Savannah, GA		102.1	April 1, 2020	C0		1328		98.0		98.0
Shreveport, LA	KMJJ FM	Shreveport, LA		99.7	June 1, 2020	C2		533		23.5		23.5
	KQHN FM	Waskom, TX		97.3	August 1, 2013	C2		533		42.0		42.0
	KRMD AM	Shreveport, LA		1340	June 1, 2012	C		N/A		1.0		1.0
	KRMD FM	Oil City, LA		101.1	June 1, 2020	C0		1134		97.7		97.7
	KVMA FM	Shreveport, LA		102.9	June 1, 2020	C2		535		42.0		42.0
Springfield, MA	WHLL AM	Springfield, MA		1450	April 1, 2014	C		N/A		1.0		1.0
	WMAS FM	Enfield, CT		94.7	April 1, 2014	B		180		50.0		50.0
Stockton, CA	KJOY FM	Stockton, CA		99.3	December 1, 2013	A		322		4.0		4.0
	KWIN FM	Lodi, CA		97.7	December 1, 2013	A		328		6.0		6.0
Syracuse, NY	WAQX FM	Manlius, NY		95.7	June 1, 2014	B1		299		25.0		25.0
	WXTL FM	Syracuse, NY		105.9	June 1, 2014	A

Large accelerated filer

Accelerated filer

Non-accelerated filer

¨ (Do not check if a smaller reporting company)

Smaller reporting company