Mediaco Holding (MDIA) risk factors, FY2024 10-K

Risks Related to our Business

1. 01Our advertising revenues and results of operations could be negatively impacted by weak economic conditions and instability in financial markets
2. 02We may lose audience share and advertising revenue to competing broadcast stations or other types of media
3. 03Our broadcast operations lack the scale of some of our competitors
4. 04Our inability to successfully affiliate with radio, television, and other third-party content distributors, or to convert any acquired radio and television stations to our programming/formats could have an adverse effect on our business, financial condition or results of operations
5. 05The loss of affiliation agreements, renewal on less favorable terms or unfavorable interpretations thereof could have an adverse effect on our business, financial condition or results of operations
6. 06We may fail to realize any benefits and incur unanticipated losses related to any acquisition
7. 07Summer Jam is highly sensitive to public tastes and is dependent on our ability to secure popular artists, and our ticketing revenue can be impacted by changes in consumer preferences
8. 08We must respond to the rapid changes in technology, services and standards that characterize the broadcasting industry in order to remain competitive, and changes in technology may increase the risk of material intellectual property infringement claims
9. 09New media has resulted in fragmentation in the audio and video advertising markets, but we cannot predict the impact that additional competition arising from new technologies may have on the broadcasting industry or on our financial condition and results of operations
10. 10Our business depends heavily on maintaining our FCC licenses. We could be prevented from operating a station if we fail to maintain its licenses
11. 11We must purchase television programming in advance of knowing whether a particular show will be popular enough for us to recoup our costs
12. 12We disseminate large amounts of content to the public. An ill-conceived or mistimed on-air statement or social media post could have a material adverse effect on our business
13. 13Misalignment with public and consumer taste and preferences could negatively impact advertising demand and profitability of our business
14. 14Changes in current Federal regulations could adversely affect our business operations
15. 15Our business strategy and our ability to operate profitably depend on the continued services of our key employees, the loss of whom could have a material adverse effect on our business
16. 16Impairment losses related to our intangible assets could reduce our earnings in the future
17. 17Our operating results have been and may again be adversely affected by acts of war, a global health crisis, terrorism and natural catastrophes
18. 18Our business is dependent upon the proper functioning of our internal business processes and information systems. The modification, change of, or interruption of such systems may disrupt our business, processes and internal controls
19. 19We may not be successful in identifying any additional suitable acquisition or investment opportunities
20. 20Future acquisitions or investments, or similar strategic transactions, could involve unknown risks that could harm our business and adversely affect our financial condition
21. 21The FCC’s ownership restrictions limit our ability to own and operate multiple television or radio stations
22. 22We have engaged in restructuring activities in the past and may implement further restructurings in the future and our restructuring efforts may not be successful or generate expected cost savings

Risks Related to Indebtedness

1. 23The terms of any future indebtedness may restrict our current and future operations, particularly our ability to respond to changes in market conditions or to take some actions
2. 24To service our indebtedness and other obligations, we will require a significant amount of cash. Our ability to generate cash depends on many factors beyond our control

Risks Related to our Common Stock

1. 25SG Broadcasting possesses significant voting interest with respect to our outstanding common stock, which limits the influence on corporate matters by a holder of MediaCo Class A common stock
2. 26Standard General’s interests may conflict with those of other shareholders
3. 27MediaCo Class A common stock may cease to be listed on Nasdaq
4. 28We are an “emerging growth company” and a “smaller reporting company” and we cannot be certain if the reduced reporting requirements applicable to emerging growth companies or smaller reporting companies will make our common stock less attractive to investors
5. 29We could be an emerging growth company until December 31, 2025. When we cease to be an emerging growth company, we could be required to incur additional professional fees and internal costs related to any heightened disclosure