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Our core business is our radio broadcasting franchise that is the largest radio broadcasting operation that primarily targets African-American and urban listeners. We currently own and operate 54&#160;broadcast stations located in 16 urban markets in the United States.&#160;&#160;While our primary source of revenue is the sale of local and national advertising for broadcast on our radio stations, our strategy is to operate the premier multi-media entertainment and information content provider targeting African-American and urban consumers. Thus, we have diversified our revenue streams by making acquisitions and investments in other complementary media properties. Our other media interests include our approximately 51.1% (See Note&#160;2&#160;- <i>Acquisitions</i>) controlling ownership interest in TV One, LLC (&#8220;TV One&#8221;), an African-American targeted cable television network that we invested in with an affiliate of Comcast Corporation and other investors; our 80.0% controlling ownership interest in Reach Media, Inc. 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Beginning on April 14, 2011, the Company began to account for TV One on a consolidated basis after having executed an amendment to the TV One operating agreement with the remaining members of TV One concerning certain governance issues. All significant intercompany accounts and transactions have been eliminated in consolidation. 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With the assistance of a third-party valuation firm, we test for license impairment at the unit of accounting level using the income approach, which involves, but is not limited to, judgmental estimates and assumptions about projected revenue growth, future operating margins, discount rates and terminal values. In testing for goodwill impairment, we follow a two-step approach, also relying primarily on the income approach that first estimates the fair value of the reporting unit. If the carrying value of the reporting unit exceeds its fair value, we then determine&#160;the implied goodwill after allocating the reporting unit&#8217;s fair value of assets and liabilities in accordance with ASC 805-10, <i>&#8220;Business Combinations</i>.&#8221; Any excess of carrying value of the reporting unit&#8217;s goodwill balance over its respective implied goodwill is written off as a charge to operations. 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During 2011, impairment indicators existed for Reach Media and Columbus and, as a result, we performed impairment testing for asset groups within these reporting units. The Company recorded impairment charges of approximately $7.8 million related to the long-lived assets of Reach Media during 2011. 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