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- Debt Covenant Breach (new) — Company was not in compliance with minimum fixed charge coverage ratio covenant at June 30, 2026, constituting an event of default; subsequently repaid debt and terminated facility.
- Committed Borrowing Capacity Eliminated (new) — Termination of Credit Agreement removes $35M of committed liquidity; future acquisitions, buybacks, or special dividends may require asset sales or new financing that may not be available on acceptable terms.
Q2 2026: revenue $26.4M, net income $960,000. revenue -6.5%, net income -14.9%; credit facility terminated after covenant breach
Filed August 14, 2026 · Period ending June 30, 2026 · Compared to 10-Q Aug 8, 2025 · ~1 min read
Key Changes
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high
Company breached minimum fixed charge coverage ratio covenant at June 30, 2026, repaid $5.0M outstanding balance in August and terminated the Credit Agreement, eliminating committed borrowing capacity.
Notes: Debt covenant default and credit facility termination view on EDGAR → -
medium
Digital advertising revenue grew to 19% of gross revenue (from 14% in H1 2025); political revenue more than doubled to $725,000 in H1 2026 vs. $321,000 in H1 2025.
MD&A: Digital revenue and political revenue verify on EDGAR → -
medium
Top-five markets' share of station operating income rose from 44% to 52%, indicating increased concentration of profitability in largest markets.
MD&A: Top-five markets contribution verify on EDGAR →
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Figures/quotes linked to EDGAR · Narrative written by AI · Aug 15, 2026 · How we verify