Discontinued Operations

12 Months Ended

Dec. 31, 2012

Discontinued Operations [Abstract]

Discontinued Operations

NOTE 2

Discontinued Operations

In October 2011, the Company sold its six Great Falls, Montana radio stations (the “Montana Stations”) to STARadio Corp. (“STARadio”) for $1.8 million in cash, subject to certain adjustments. The Company recorded a pre-tax gain on sale of discontinued operations of $1.0 million.

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

Operational data for the Montana Stations included in discontinued operations is summarized as follows (in thousands):

	Year Ended December 31,
	2011			2010
Revenue	$	674		$	1,524
Income from discontinued operations:
Discontinued operating activities		(165	)		171
Gain on sale of radio stations		1,062			—
		897			171
Income tax (expense) benefit		(329	)		(29	)
Income from discontinued operations, net of income taxes	$	568		$	142