XML 99 R36.htm IDEA: XBRL DOCUMENT v2.4.1.9
LONG-TERM DEBT: (Tables)
12 Months Ended
Dec. 31, 2014
Debt Disclosure [Abstract]  
Schedule Of Long Term Debt [Table Text Block]
Long-term debt consists of the following:
 
 
 
As of December 31,
 
 
 
2014
 
2013
 
 
 
(In thousands)
 
 
 
 
 
 
 
Senior bank term debt
 
$
368,532
 
$
373,456
 
9.25% Senior Subordinated Notes due February 2020
 
 
335,000
 
 
 
12.5%/15% Senior Subordinated Notes due May 2016
 
 
 
 
327,034
 
10% Senior Secured TV One Notes due March 2016
 
 
119,000
 
 
119,000
 
Total debt
 
 
822,532
 
 
819,490
 
Less: current portion
 
 
3,829
 
 
3,840
 
Less: original issue discount
 
 
2,227
 
 
3,855
 
Long-term debt, net
 
$
816,476
 
$
811,795
 
Schedule of Ratios Calculated in Accordance with Credit Agreement [Table Text Block]
As of December 31, 2014, ratios calculated in accordance with the 2011 Credit Agreement, as amended, were as follows:
 
 
 
As of
 
 
 
 
 
 
 
 
 
 
 
 
December
 
 
Covenant
 
 
Excess
 
 
 
 
31, 2014
 
 
Limit
 
 
Coverage
 
 
 
 
 
 
 
 
 
 
 
Pro Forma Last Twelve Months Covenant EBITDA (In millions)
 
$
95.4
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Pro Forma Last Twelve Months Interest Expense (In millions)
 
$
60.6
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Senior Debt (In millions)
 
$
334.5
 
 
 
 
 
 
 
 
 
 
Total Debt (In millions)
 
$
669.5
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Interest Coverage
 
 
 
 
 
 
 
 
 
 
 
 
 
Covenant EBITDA / Interest Expense
 
 
1.57
x
 
 
1.25
x
 
 
0.32
x
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Senior Secured Leverage
 
 
 
 
 
 
 
 
 
 
 
 
 
Senior Secured Debt / Covenant EBITDA
 
 
3.51
x
 
 
3.75
x
 
 
0.24
x
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total Leverage
 
 
 
 
 
 
 
 
 
 
 
 
 
Total Debt / Covenant EBITDA
 
 
7.02
x
 
 
7.50
x
 
 
0.48
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 December 31, 2014, are as follows:
 
 
 
 
 
Senior
 
 
 
 
 
 
 
 
 
Subordinated
 
TV One Senior
 
 
 
 
 
Credit Facility
 
Notes due 2020
 
Secured Notes
 
Total
 
 
 
 
 
 
 
 
 
 
 
2015
 
$
3,829
 
$
 
$
 
$
3,829
 
2016
 
 
364,703
 
 
 
 
119,000
 
 
483,703
 
2017
 
 
 
 
 
 
 
 
 
2018
 
 
 
 
 
 
 
 
 
2019
 
 
 
 
 
 
 
 
 
2020
 
 
 
 
335,000
 
 
 
 
335,000
 
Total Debt
 
$
368,532
 
$
335,000
 
$
119,000
 
$
822,532