XML 14 R4.htm IDEA: XBRL DOCUMENT v2.4.0.8
CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)
In Thousands, except Share data, unless otherwise specified
3 Months Ended 9 Months Ended
Sep. 30, 2013
Sep. 30, 2012
Sep. 30, 2013
Sep. 30, 2012
Income Statement Abstract        
NET REVENUES $ 98,436 $ 102,295 $ 278,035 $ 286,832
OPERATING EXPENSE:        
Station operating expenses, including non-cash compensation expense 67,104 63,719 191,040 191,120
Depreciation and amortization expense 2,041 2,746 6,557 8,242
Corporate general and administrative expenses, including non-cash compensation expense 6,039 6,329 17,887 19,159
Impairment loss 0 0 850 22,307
Merger and acquisition costs 0 0 0 0
Net time brokerage agreement (income) fees 0 (4) 0 238
Net (gain) loss on sale or disposal of assets (34) 120 (1,625) 123
Total operating expense 75,150 72,910 214,709 241,189
OPERATING INCOME (LOSS) 23,286 29,385 63,326 45,643
OTHER (INCOME) EXPENSE:        
Net interest expense 11,038 13,285 33,822 40,854
Net (gain) loss on extinguishment of debt 0 0 0 0
Net (gain) loss on derivative instruments 0 0 0 (1,346)
Net (gain) loss on investments 0 50 0 50
Other income 0 (35) (93) (81)
TOTAL OTHER EXPENSE 11,038 13,300 33,729 39,477
INCOME (LOSS) BEFORE INCOME TAXES (BENEFIT) 12,248 16,085 29,597 6,166
INCOME TAXES (BENEFIT) 5,373 7,908 13,080 2,245
NET INCOME (LOSS) $ 6,875 $ 8,177 $ 16,517 $ 3,921
NET INCOME (LOSS) PER SHARE - BASIC $ 0.18 $ 0.22 $ 0.44 $ 0.11
NET INCOME (LOSS) PER SHARE - DILUTED $ 0.18 $ 0.22 $ 0.43 $ 0.10
WEIGHTED AVERAGE SHARES:        
Basic 37,385,753 36,735,215 37,334,620 36,704,001
Diluted 38,153,422 37,547,645 38,208,979 37,662,184