SEGMENT INFORMATION

9 Months Ended

Sep. 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 nine month periods ended September 30, 2012 and 2011 is presented in the following tables:

	Three Months Ended September 30,
	2012			2011
	(Unaudited)
	(In thousands)
Net Revenue:
Radio Broadcasting	$	61,823		$	58,733
Reach Media		11,909			13,427
Internet		4,452			4,884
Cable Television		33,232			29,545
Corporate/Eliminations/Other		(1,464	)		(2,144	)
Consolidated	$	109,952		$	104,445
Operating Expenses (excluding depreciation, amortization and impairment charges and including stock-based compensation):
Radio Broadcasting	$	33,663		$	35,117
Reach Media		11,324			10,490
Internet		4,888			5,086
Cable Television		24,983			23,303
Corporate/Eliminations/Other		3,876			5,825
Consolidated	$	78,734		$	79,821
Depreciation and Amortization:
Radio Broadcasting	$	1,589		$	1,657
Reach Media		293			988
Internet		795			838
Cable Television		6,708			7,779
Corporate/Eliminations/Other		300			242
Consolidated	$	9,685		$	11,504
Operating income (loss):
Radio Broadcasting	$	26,571		$	21,959
Reach Media		292			1,949
Internet		(1,231	)		(1,040	)
Cable Television		1,541			(1,537	)
Corporate/Eliminations/Other		(5,640	)		(8,211	)
Consolidated	$	21,533		$	13,120

	September 30, 2012		December 31, 2011
	(Unaudited)
	(In thousands)
Total Assets:
Radio Broadcasting	$	809,594	$	806,822
Reach Media		32,588		33,737
Internet		31,551		33,265
Cable Television		548,041		561,325
Corporate/Eliminations/Other		57,149		51,333
Consolidated	$	1,478,923	$	1,486,482

	Nine Months Ended September 30,
	2012			2011
	(Unaudited)
	(In thousands)
Net Revenue:
Radio Broadcasting	$	176,316		$	167,152
Reach Media		34,008			37,928
Internet		14,659			12,705
Cable Television		97,722			54,711
Corporate/Eliminations/Other		(3,795	)		(5,980	)
Consolidated	$	318,910		$	266,516
Operating Expenses (excluding depreciation, amortization and impairment charges and including stock-based compensation):
Radio Broadcasting	$	104,068		$	103,317
Reach Media		34,631			32,745
Internet		15,250			14,983
Cable Television		65,893			40,805
Corporate/Eliminations/Other		12,857			14,353
Consolidated	$	232,699		$	206,203
Depreciation and Amortization:
Radio Broadcasting	$	4,817		$	5,091
Reach Media		887			2,961
Internet		2,432			2,875
Cable Television		20,219			14,208
Corporate/Eliminations/Other		757			690
Consolidated	$	29,112		$	25,825
Impairment of Long-Lived Assets:
Radio Broadcasting	$	313		$	—
Reach Media		—			—
Internet		—			—
Cable Television		—			—
Corporate/Eliminations/Other		—			—
Consolidated	$	313		$	—
Operating income (loss):
Radio Broadcasting	$	67,118		$	58,744
Reach Media		(1,510	)		2,222
Internet		(3,023	)		(5,153	)
Cable Television		11,610			(302	)
Corporate/Eliminations/Other		(17,409	)		(21,023	)
Consolidated	$	56,786		$	34,488