Mediaco Holding (MDIA) risk factors, FY2025 10-K

Mediaco Holding's FY2025 10-K, filed Mar 31, 2026, lists 32 risk factors in 3 groups. Against the prior year's 29: 7 new, 4 dropped, 4 substantially reworded.

Risk factors listed
323 groups
New this year
7vs 29 last year
Dropped
4since the prior 10-K
Substantially reworded
4of those kept
Section length
9k wordsItem 1A

What the changes say

  • MediaCo faces expanded station competition and impairments, notably $22.3 million in 2025.

What changed since the prior 10-K

New

  • NewRisks Related to our Business

    The Company operates two radio stations in New York and as a result of the Estrella Acquisition, operates eleven radio

    The Estrella Acquisition expands operations to eleven radio and nine television stations across six states, exposing us to larger competitors.

  • NewRisks Related to our Business

    which we rent. Accordingly, our ticket sales success depends, in part, upon the ability of these third parties to correctly anticipate public demand for particular events, as well as the availability of popular artists, entertainers and teams

    Fixed guarantees paid to artists four to eight months in advance for events like Summer Jam could cause losses if public demand falters.

  • NewRisks Related to our Business

    We use artificial intelligence ("AI") in our business, and challenges in managing its use could result in reputational harm, competitive disadvantage, legal liability, and adverse effects on our results of operations

    Integrating artificial intelligence into operations risks competitive disadvantage, copyright disputes, and reputational harm from inaccurate or controversial content.

  • NewRisks Related to our Business

    We have recognized, and could continue to recognize, impairment charges on our goodwill and broadcast licenses. Any such future charges could adversely impact our results of operations

    We recognized $3.2 million in FCC license impairments and $19.9 million in audio segment goodwill impairments during 2025.

  • NewRisks Related to our Common Stock

    MediaCo’s Class A common stock is listed on Nasdaq under the ticker symbol “MDIA”. We may not be able to meet the continued listing requirements of Nasdaq, which require, among other things, a minimum closing price of MediaCo Class A common stock, a minimum market capitalization and minimum shareholders' equity

    We received a Nasdaq deficiency letter on December 19, 2025, for failing to maintain the minimum $1.00 closing bid price.

  • NewRisks Related to our Common Stock

    per share for continued listing on The Nasdaq Capital Market, as set forth in Nasdaq Listing Rule 5550(a)(2) (the “Minimum Bid Requirement”)

    We have until June 17, 2026, to regain compliance with Nasdaq's minimum bid requirement or potentially face a second 180-day compliance period.

  • NewRisks Related to our Common Stock

    less attractive because we may rely on these exemptions. If some investors find MediaCo Class A common stock less attractive as a result, there may be a less active trading market for MediaCo Class A common stock, and its stock price may be lower or more volatile

    As a smaller reporting company, we are exempt from Section 404(b) auditor attestation of internal controls, which could impact investor confidence.

Dropped

  • DroppedRisks Related to our Business

    Our broadcast operations lack the scale of some of our competitors

  • DroppedRisks Related to our Business

    Impairment losses related to our intangible assets could reduce our earnings in the future

  • DroppedRisks Related to our Common Stock

    MediaCo Class A common stock may cease to be listed on Nasdaq

    Broadcast scale disadvantages.

  • DroppedRisks Related to our Common Stock

    We 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

Reworded

  • 95% rewrittenRisks Related to our Common Stock

    We are a “smaller reporting company” and we cannot be certain whether the reduced reporting requirements applicable to smaller reporting companies will make our common stock less attractive to investors

    Updated status from emerging growth company to smaller reporting company with specific revenue and non-affiliate stock thresholds.

    Was: We 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

  • 81% rewrittenRisks Related to our Business

    Summer 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

    Condensed disclosures regarding Summer Jam artist availability and venue rental constraints.

  • 45% rewrittenRisks Related to our Common Stock

    Standard General’s interests may conflict with those of other shareholders

    Updated Standard General voting power from 96.1% to 68.7% and appended a Nasdaq delisting risk warning.

  • 36% rewrittenRisks Related to Indebtedness

    To 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

    Retained First Lien and Second Lien Term Loan debt service risk language without material textual changes.

All 32 risk factors

Headings as the filing states them, in filing order.

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. 03The Company operates two radio stations in New York and as a result of the Estrella Acquisition, operates eleven radioNew
  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 preferences81% rewritten
  8. 08which we rent. Accordingly, our ticket sales success depends, in part, upon the ability of these third parties to correctly anticipate public demand for particular events, as well as the availability of popular artists, entertainers and teamsNew
  9. 09We 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
  10. 10New 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
  11. 11We use artificial intelligence ("AI") in our business, and challenges in managing its use could result in reputational harm, competitive disadvantage, legal liability, and adverse effects on our results of operationsNew
  12. 12Our business depends heavily on maintaining our FCC licenses. We could be prevented from operating a station if we fail to maintain its licenses
  13. 13We must purchase television programming in advance of knowing whether a particular show will be popular enough for us to recoup our costs
  14. 14We 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
  15. 15Misalignment with public and consumer taste and preferences could negatively impact advertising demand and profitability of our business
  16. 16Changes in current Federal regulations could adversely affect our business operations
  17. 17Our 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
  18. 18We have recognized, and could continue to recognize, impairment charges on our goodwill and broadcast licenses. Any such future charges could adversely impact our results of operationsNew
  19. 19Our operating results have been and may again be adversely affected by acts of war, a global health crisis, terrorism and natural catastrophes
  20. 20Our 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
  21. 21We may not be successful in identifying any additional suitable acquisition or investment opportunities
  22. 22Future acquisitions or investments, or similar strategic transactions, could involve unknown risks that could harm our business and adversely affect our financial condition
  23. 23The FCC’s ownership restrictions limit our ability to own and operate multiple television or radio stations
  24. 24We 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. 25The 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. 26To 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 control36% rewritten

Risks Related to our Common Stock

  1. 27SG 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. 28Standard General’s interests may conflict with those of other shareholders45% rewritten
  3. 29MediaCo’s Class A common stock is listed on Nasdaq under the ticker symbol “MDIA”. We may not be able to meet the continued listing requirements of Nasdaq, which require, among other things, a minimum closing price of MediaCo Class A common stock, a minimum market capitalization and minimum shareholders' equityNew
  4. 30per share for continued listing on The Nasdaq Capital Market, as set forth in Nasdaq Listing Rule 5550(a)(2) (the “Minimum Bid Requirement”)New
  5. 31We are a “smaller reporting company” and we cannot be certain whether the reduced reporting requirements applicable to smaller reporting companies will make our common stock less attractive to investors95% rewritten
  6. 32less attractive because we may rely on these exemptions. If some investors find MediaCo Class A common stock less attractive as a result, there may be a less active trading market for MediaCo Class A common stock, and its stock price may be lower or more volatileNew

Other Mediaco Holding 10-Ks

  • FY2024 10-K risk factors
    29 risks

    MediaCo relies heavily on advertising revenue, maintaining FCC licenses, and managing ongoing debt obligations and strategic acquisitions. SG Broadcasting holds 96.1% voting control, limiting influence for Class A common stock investors.

    Filed Apr 15, 2025

About this page

The headings are the filing's own. The one-line readings and the overview are automated and can be wrong: read Item 1A of the 10-K for the exact wording.