We own and operate 48 radio stations in 16 U.S. markets. and, to a lesser degree, Congressional mid-term election years (2022, 2026, etc.), resulting from increased political advertising in those years compared to other years. 5 • Increasing U.S. Hispanic Buying Power. 8226; Spanish-Language Advertising. Continuing to Offer Advertisers an Integrated Platform of Services. The station retains control of the contents and other broadcast issues. ( Retransmission Consent Revenue. Nielsen offers a ratings service measuring all television audience viewing. Similarly, our local news achieves strong audience ratings. Our radio networks are broadcast in 14 of the 16 radio markets that we serve. Our network stations have up to one additional minute of commercial inventory per hour. We believe that our relations with our employees and these unions are generally good. The EEO rules do not materially affect our operations. The FCC has implemented digital television service in the United States. There are no assurances that this demand will continue in future periods. Our total indebtedness was approximately $215.3 million as of December 31, 2020. Actual results could differ materially from our estimated results. STELA and STELAR provide further five-year extensions. The TVPA has made these provisions permanent. Our television business operates through over-the-air transmission of broadcast signals.
