Discontinued Operations

9 Months Ended

Sep. 30, 2011

Discontinued Operations [Abstract]

Discontinued Operations

5. Discontinued Operations

In June 2011, the Company entered into a definitive agreement to sell its six Great Falls, Montana radio stations (the "Montana Stations") to STARadio Corp. ("STARadio"), which is based in Quincy, Illinois for $1.8 million, subject to certain adjustments. The Company entered into a Time Brokerage Agreement ("TBA") whereby STARadio will provide programming and related services and will sell the advertising inventory of the Montana Stations. The TBA remains in effect until the closing of the sale or termination of the purchase and sale agreement, whichever is earlier.

In accordance with authoritative guidance the Company has reported the results of operations of the Montana Stations as discontinued operations in the accompanying unaudited condensed consolidated financial statements. For all reported periods, the Company reclassified to discontinued operations the results of the Montana Stations. The Montana Stations were previously included in the Company's radio segment.