DISCONTINUED OPERATIONS

6 Months Ended

Jun. 30, 2012

Discontinued Operations and Disposal Groups [Abstract]

Disposal Groups, Including Discontinued Operations, Disclosure [Text Block]

4.  DISCONTINUED OPERATIONS:

As of June 2011, our remaining Boston radio station was made the subject of an LMA whereby we have made available, for a fee, air time on this station to another party. The remaining assets and liabilities of stations sold or stations that we do not operate that are the subject of an LMA, have been classified as discontinued operations as of June 30, 2012 and December 31, 2011. Thus, stations sold or stations that we do not operate that are the subject of an LMA results from operations for the three months and six months ended June 30, 2012 and 2011, have been classified as discontinued operations in the accompanying consolidated financial statements.

 The following table summarizes the operating results for all of the stations sold or stations that we do not operate that are the subject of an LMA and are classified as discontinued operations for all periods presented:

	Three Months Ended  June 30,					Six Months Ended  June 30,
	2012		2011			2012		2011
	(Unaudited)
	(In thousands)
Net revenue	$	—	$	22		$	—	$	59
Station operating expenses		65		48			123		125
Depreciation and amortization		18		19			36		35
Interest income		90		—			180		—
Gain on sale of assets		—		—			—		20
Income (loss) before income taxes		7		(45	)		21		(81	)
Provision for income taxes		—		—			—		—
Income (loss) from discontinued operations, net of tax	$	7	$	(45	)	$	21	$	(81	)

The assets and liabilities of these stations classified as discontinued operations in the accompanying consolidated balance sheets consisted of the following: 

	As of
	June 30,		December 31,
	2012		2011
	(Unaudited)
	(In thousands)
Currents assets:
Accounts receivable, net of allowance for doubtful accounts	$	89		$	90
Total current assets		89			90
Intangible assets, net		1,202			1,202
Property and equipment, net		238			274
Total assets	$	1,529		$	1,566
Current liabilities:
Other current liabilities	$	283		$	260
Total current liabilities		283			260
Long-term liabilities		24			29
Total liabilities	$	307		$	289