ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

3 Months Ended

Mar. 31, 2016

Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]

The following table sets forth the calculation of basic and diluted earnings per share from continuing operations (in thousands, except share and per share data):

	Three Months Ended March 31,
	2016		2015
	(Unaudited)
Numerator:
Net loss attributable to common stockholders	$	(3,947)	$	(18,489)
Denominator:
Denominator for basic net loss per share - weighted-average outstanding shares		48,664,524		47,608,038
Effect of dilutive securities:
Stock options and restricted stock		–		–
Denominator for diluted net loss per share - weighted-average outstanding shares		48,664,524		47,608,038

Net loss attributable to common stockholders per share –basic and diluted	$	(0.08)	$	(0.39)

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block]

The following table summarizes the potential common shares excluded from the diluted calculation.

	Three Months Ended March 31,
	2016		2015
	(Unaudited)
	(In thousands)

Stock options		3,656		3,725
Restricted stock awards		1,021		2,535

Fair Value, by Balance Sheet Grouping [Table Text Block]

As of March 31, 2016, and December 31, 2015, the fair values of our financial assets and liabilities measured at fair value on a recurring basis categorized as follows:

	Total		Level 1		Level 2		Level 3
			(Unaudited)
			(In thousands)
As of March 31, 2016
Liabilities subject to fair value measurement:
Employment agreement award (a)	$	23,181	$	—	$	—	$	23,181
Mezzanine equity subject to fair value measurement:
Redeemable noncontrolling interests (b)	$	12,084	$	—	$	—	$	12,084
As of December 31, 2015
Liabilities subject to fair value measurement:
Incentive award plan (c)	$	1,506	$	—	$	—	$	1,506
Employment agreement award (a)		20,915		—		—		20,915
Total	$	22,421	$	—	$	—	$	22,421
Mezzanine equity subject to fair value measurement:
Redeemable noncontrolling interests (b)	$	11,286	$	—	$	—	$	11,286

(a) Pursuant to an employment agreement (the “Employment Agreement”) executed in April 2008, the Chief Executive Officer (“CEO”) is eligible to receive an award (the “Employment Agreement Award”) amount equal to 4% of any proceeds from distributions or other liquidity events in excess of the return of the Company’s aggregate investment in TV One. The Company reviews the factors underlying this award at the end of each quarter including the valuation of TV One (based on the estimated enterprise fair value of TV One as determined by a discounted cash flow analysis), and an assessment of the probability that the Employment Agreement will be renewed and contain this provision. There are probability factors included in the calculation of the award related to the likelihood that the award will be realized. The Company’s obligation to pay the award was triggered only after the Company’s recovery of the aggregate amount of our pre-Comcast Buyout capital contribution in TV One, and only upon actual receipt of distributions of cash or marketable securities or proceeds from a liquidity event with respect to such invested amount. The CEO was fully vested in the award upon execution of the Employment Agreement, and the award lapses if the CEO voluntarily leaves the Company or is terminated for cause. A third-party valuation firm assisted the Company in estimating TV One’s fair value using the discounted cash flow analysis. Significant inputs to the discounted cash flow analysis include forecasted operating results, discount rate and a terminal value. As noted in our current report on Form 8-K filed October 6, 2014, the Compensation Committee of the Board of Directors of the Company has approved terms for a new employment agreement with the CEO, including a renewal of the Employment Agreement Award upon similar terms as in the prior Employment Agreement. While a new employment agreement has not been executed as of the date of this report, the CEO is being compensated according to the new terms approved by the Compensation Committee.

(b) The redeemable noncontrolling interest in Reach Media is measured at fair value using a discounted cash flow methodology. A third-party valuation firm assisted the Company in estimating the fair value. Significant inputs to the discounted cash flow analysis include forecasted operating results, discount rate and a terminal value.

(c) Balance is measured based on the estimated enterprise fair value of TV One as determined by a discounted cash flow analysis. Significant inputs to the discounted cash flow analysis include forecasted operating results, discount rate and a terminal value. A third-party valuation firm assisted the Company in estimating TV One’s fair value using the discounted cash flow analysis.

Fair Value, Liabilities Measured on Recurring Basis [Table Text Block]

There were no transfers in or out of Level 1, 2, or 3 during the three months ended March 31, 2016. The following table presents the changes in Level 3 liabilities measured at fair value on a recurring basis for the three months ended March 31, 2016 and 2015, respectively:

	Incentive Award Plan		Employment Agreement Award		Redeemable Noncontrolling Interests
	(In thousands)

Balance at December 31, 2015	$	1,506	$	20,915	$	11,286
Net income attributable to noncontrolling interests		—		—		421
Distribution		(1,480)		—		—
Change in fair value		(26)		2,266		377
Balance at March 31, 2016	$	—	$	23,181	$	12,084

The amount of total losses for the period included in earnings attributable to the change in unrealized losses relating to assets and liabilities still held at the reporting date	$	26	$	(2,266)	$	—

	Incentive Award Plan		Employment Agreement Award		Redeemable Noncontrolling Interests
	(In thousands)

Balance at December 31, 2014	$	1,044	$	17,993	$	10,836
Net income attributable to noncontrolling interests		—		—		386
Change in fair value		—		368		447
Balance at March 31, 2015	$	1,044	$	18,361	$	11,669

The amount of total losses for the period included in earnings attributable to the change in unrealized losses relating to assets and liabilities still held at the reporting date	$	—	$	(368)	$	—

Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Table Text Block]

For Level 3 assets and liabilities measured at fair value on a recurring basis, the significant unobservable inputs used in the fair value measurements were as follows:


				As of March 31, 2016		As of December 31, 2015		As of March 31, 2015
Level 3 liabilities	Valuation Technique	Significant Unobservable Inputs	Significant Unobservable Input Value

Incentive award plan	Discounted Cash Flow	Discount Rate		N/A		10.8	%	10.4	%
Incentive award plan	Discounted Cash Flow	Long-term Growth Rate		N/A		3.0	%	3.0	%
Employment agreement award	Discounted Cash Flow	Discount Rate		10.8	%	10.8	%	10.4	%
Employment agreement award	Discounted Cash Flow	Long-term Growth Rate		3.0	%	3.0	%	3.0	%
Redeemable noncontrolling interest	Discounted Cash Flow	Discount Rate		11.5	%	11.8	%	11.5	%
Redeemable noncontrolling interest	Discounted Cash Flow	Long-term Growth Rate		1.0	%	1.5	%	1.5	%