SEGMENT INFORMATION

6 Months Ended

Jun. 30, 2012

Segment Reporting [Abstract]

Segment Reporting Disclosure [Text Block]

12.  SEGMENT INFORMATION:

The Company has four reportable segments: (i) Radio Broadcasting; (ii) Reach Media; (iii) Internet; and (iv) Cable Television. These segments operate in the United States and are consistently aligned with the Company’s management of its businesses and its financial reporting structure.

The Radio Broadcasting segment consists of all broadcast results of operations.  The Company aggregates the broadcast markets in which it operates into the Radio Broadcasting segment. The Reach Media segment consists of the results of operations for the Tom Joyner Morning Show and related activities. The Internet segment includes the results of our online business, including the operations of Interactive One and CCI. The Cable Television segment consists of TV One’s results of operations. Corporate/Eliminations/Other represents financial activity associated with our corporate staff and offices and intercompany activity among the four segments.

Operating loss or income represents total revenues less operating expenses, depreciation and amortization, and impairment of long-lived assets. Intercompany revenue earned and expenses charged between segments are recorded at fair value and eliminated in consolidation.

The accounting policies described in the summary of significant accounting policies in Note 1 – Organization and Summary of Significant Accounting Policies are applied consistently across the segments.

Detailed segment data for the three and six month periods ended June 30, 2012 and 2011 is presented in the following tables:

	Three Months Ended June 30,
	2012			2011
	(Unaudited)
	(In thousands)
Net Revenue:
Radio Broadcasting	$	61,759		$	60,162
Reach Media		8,546			9,774
Internet		4,423			4,307
Cable Television		32,254			25,166
Corporate/Eliminations/Other		(1,066	)		(2,347	)
Consolidated	$	105,916		$	97,062
Operating Expenses (excluding depreciation, amortization and impairment charges and including stock-based compensation):
Radio Broadcasting	$	35,081		$	36,261
Reach Media		8,945			8,320
Internet		4,898			4,826
Cable Television		20,592			17,502
Corporate/Eliminations/Other		4,865			4,125
Consolidated	$	74,381		$	71,034
Depreciation and Amortization:
Radio Broadcasting	$	1,623		$	1,681
Reach Media		293			990
Internet		823			919
Cable Television		6,762			6,429
Corporate/Eliminations/Other		241			219
Consolidated	$	9,742		$	10,238
Impairment of Long-Lived Assets:
Radio Broadcasting	$	313		$	—
Reach Media		—			—
Internet		—			—
Cable Television		—			—
Corporate/Eliminations/Other		—			—
Consolidated	$	313		$	—
Operating income (loss):
Radio Broadcasting	$	24,742		$	22,220
Reach Media		(692	)		464
Internet		(1,298	)		(1,438	)
Cable Television		4,900			1,235
Corporate/Eliminations/Other		(6,172	)		(6,691	)
Consolidated	$	21,480		$	15,790
	June 30, 2012			December 31, 2011
	(Unaudited)
	(In thousands)
Total Assets:
Radio Broadcasting	$	807,976		$	806,822
Reach Media		32,933			33,737
Internet		31,825			33,265
Cable Television		547,167			561,325
Corporate/Eliminations/Other		54,486			51,333
Consolidated	$	1,474,387		$	1,486,482

	Six Months Ended June 30,
	2012			2011
	(Unaudited)
	(In thousands)
Net Revenue:
Radio Broadcasting	$	114,493		$	108,419
Reach Media		22,099			24,500
Internet		10,207			7,821
Cable Television		64,490			25,166
Corporate/Eliminations/Other		(2,331	)		(3,836	)
Consolidated	$	208,958		$	162,070
Operating Expenses (excluding depreciation, amortization and impairment charges and including stock-based compensation):
Radio Broadcasting	$	70,405		$	68,198
Reach Media		23,307			22,257
Internet		10,362			9,897
Cable Television		40,910			17,502
Corporate/Eliminations/Other		8,981			8,528
Consolidated	$	153,965		$	126,382
Depreciation and Amortization:
Radio Broadcasting	$	3,228		$	3,433
Reach Media		593			1,974
Internet		1,637			2,037
Cable Television		13,511			6,429
Corporate/Eliminations/Other		458			448
Consolidated	$	19,427		$	14,321
Impairment of Long-Lived Assets:
Radio Broadcasting	$	313		$	—
Reach Media		—			—
Internet		—			—
Cable Television		—			—
Corporate/Eliminations/Other		—			—
Consolidated	$	313		$	—
Operating income (loss):
Radio Broadcasting	$	40,547		$	36,788
Reach Media		(1,801	)		269
Internet		(1,792	)		(4,113	)
Cable Television		10,069			1,235
Corporate/Eliminations/Other		(11,770	)		(12,812	)
Consolidated	$	35,253		$	21,367