INCOME TAXES (Block)

6 Months Ended

Jun. 30, 2013

Income Tax Disclosure Abstract

Income Tax Disclosure Text Block

9.       INCOME TAXES

Tax Rates For The Six Months And Three Months Ended June 30, 2013

The effective income tax rates were44.4% and 41.9% for the six monthsand three months ended June 30, 2013, respectively. These rates were impacted by an adjustment for expenses that are not deductible for tax purposes and an increase in net deferred tax liabilities associated with non-amortizable assets such as broadcasting licenses and goodwill.

Tax Rates For The Six Months And Three Months Ended June 30, 2012

The effective income tax rates were 57.1% and 57.4% for the six months and three months ended June 30, 2012, respectively. These rates were impacted by an adjustment for expenses that are not deductible for tax purposes and a tax benefit associated with a reduction in liabilities for uncertain tax positions due to the expiration of the statute of limitations in certain jurisdictions.

Deferred Tax Assets And Liabilities

       As of June 30, 2013 and December 31, 2012, net deferred tax liabilities were $31.5 million and $23.8 million, respectively. The income tax accounting process to determine the deferred tax liabilities involves estimating all temporary differences between the tax and financial reporting bases of the Company's assets and liabilities, based on enacted tax laws and statutory tax rates applicable to the period in which the differences are expected to affect taxable income. The Company estimated the current exposure by assessing the temporary differences and computing the provision for income taxes by applying the estimated effective tax rate to income.