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LONG-TERM DEBT: (Tables)
6 Months Ended
Jun. 30, 2014
Debt Disclosure [Abstract]  
Schedule Of Long Term Debt [Table Text Block]
Long-term debt consists of the following:
 
 
 
June 30, 2014
 
December 31, 2013
 
 
 
(Unaudited)
 
 
 
 
 
 
(In thousands)
 
 
 
 
 
 
 
 
 
Senior bank term debt
 
$
370,446
 
$
373,456
 
9.25% Senior Subordinated Notes due February 2020
 
 
335,000
 
 
 
121/2%/15% Senior Subordinated Notes due May 2016
 
 
 
 
327,034
 
10% Senior Secured TV One Notes due March 2016
 
 
119,000
 
 
119,000
 
Total debt
 
 
824,446
 
 
819,490
 
Less: current portion
 
 
3,829
 
 
3,840
 
Less: original issue discount
 
 
3,057
 
 
3,855
 
Long-term debt, net
 
$
817,560
 
$
811,795
 
Schedule of Ratios Calculated in Accordance with Credit Agreement [Table Text Block]
As of June 30, 2014, ratios calculated in accordance with the 2011 Credit Agreement, as amended, were as follows:
 
 
 
As of
June
30, 2014
 
 
Covenant
Limit
 
 
Excess
Coverage
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Pro Forma Last Twelve Months Covenant EBITDA (In millions)
 
$
94.3
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Pro Forma Last Twelve Months Interest Expense (In millions)
 
$
61.1
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Senior Debt (In millions)
 
$
336.4
 
 
 
 
 
 
 
 
 
Total Debt (In millions)
 
$
671.4
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Interest Coverage
 
 
 
 
 
 
 
 
 
 
 
 
Covenant EBITDA / Interest Expense
 
 
1.54
x
 
 
1.20
x
 
 
0.34
x
 
 
 
 
 
 
 
 
 
 
 
 
 
Senior Secured Leverage
 
 
 
 
 
 
 
 
 
 
 
 
Senior Secured Debt / Covenant EBITDA
 
 
3.57
x
 
 
4.25
x
 
 
0.68
x
 
 
 
 
 
 
 
 
 
 
 
 
 
Total Leverage
 
 
 
 
 
 
 
 
 
 
 
 
Total Debt / Covenant EBITDA
 
 
7.12
x
 
 
8.25
x
 
 
1.13
x
 
 
 
 
 
 
 
 
 
 
 
 
 
EBITDA - Earnings before interest, taxes, depreciation and amortization
 
 
 
 
 
 
 
 
 
 
 
 
Schedule of Maturities of Long-term Debt [Table Text Block]
Future scheduled minimum principal payments of debt as of June 30, 2014, are as follows:
 
 
 
Credit Facility
 
Senior
Subordinated
Notes due 2020
 
TV One Senior
Secured Notes
 
Total
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
July – December 2014
 
$
1,914
 
$
 
$
 
$
1,914
 
2015
 
 
3,829
 
 
 
 
 
 
3,829
 
2016
 
 
364,703
 
 
 
 
119,000
 
 
483,703
 
2017
 
 
 
 
 
 
 
 
 
2018
 
 
 
 
 
 
 
 
 
2019
 
 
 
 
 
 
 
 
 
2020
 
 
 
 
335,000
 
 
 
 
335,000
 
Total Debt
 
$
370,446
 
$
335,000
 
$
119,000
 
$
824,446