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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
OPERATING ACTIVITIES:      
Net income (loss) $ 38,065,000 $ 29,184,000 $ 26,823,000
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Depreciation and amortization 9,793,000 8,419,000 7,794,000
Amortization of deferred financing costs 2,897,000 3,203,000 4,165,000
Net deferred taxes (benefit) and other 14,688,000 18,322,000 19,811,000
Tax benefit on exercise of options 0 0 0
Provision for bad debts 1,330,000 1,553,000 1,004,000
Net (gain) loss on sale or disposal of assets (1,621,000) (2,364,000) (379,000)
Non-cash stock-based compensation expense 6,539,000 5,524,000 5,232,000
Net (gain) loss on investments 0 0 21,000
Net (gain) loss on derivatives 0 0 0
Deferred rent 138,000 1,017,000 807,000
Unearned revenue - long-term 0 (10,000) (33,000)
Net (gain) loss on extinguishment of debt 10,858,000 0 0
Deferred compensation 1,683,000 584,000 1,291,000
Tax benefit for vesting of restricted stock unit awards 0 0 0
Impairment loss 254,000 0 0
Net accretion expense for asset retirement obligations 27,000 13,000 (11,000)
Changes in assets and liabilities:      
Accounts receivable (4,202,000) (4,027,000) 565,000
Prepaid expenses and deposits (1,368,000) 642,000 (1,586,000)
Prepaid and refundable income taxes 0 0 0
Accounts payable and accrued liabilities (739,000) 700,000 1,633,000
Accrued interest expense 40,000 769,000 (132,000)
Accrued liabilities - long-term (1,894,000) 146,000 (1,311,000)
Prepaid expenses - long-term (4,458,000) 1,115,000 (398,000)
Net cash provided by (used in) operating activities 72,030,000 64,790,000 65,296,000
INVESTING ACTIVITIES:      
Additions to property and equipment (7,336,000) (7,043,000) (8,408,000)
Proceeds from sale of property, equipment, intangibles and other assets 7,974,000 427,000 2,153,000
Purchases of radio station assets (92,000) (83,553,000) 0
Deferred charges and other assets (353,000) (1,575,000) (800,000)
Purchases of investments 0 (9,000) 0
Proceeds from investments and capital projects 0 9,000 0
Proceeds from insurance recovery 0 0 0
Station acquisition deposits and costs 0 0 0
CashAcquiredFromAcquisition 302,000 0 0
Net cash provided by (used in) investing activities 495,000 (91,744,000) (7,055,000)
FINANCING ACTIVITIES:      
Proceeds from issuance of long-term debt 480,000,000 0 0
Proceeds from the financing method of lease obligations 102,000 0 0
Payments of long-term debt (293,266,000) (51,250,000) (53,000,000)
Retirement of senior subordinated notes (220,000,000) 0 0
Proceeds from issuance of employee stock plan 379,000 0 0
Proceeds from the exercise of stock options 265,000 35,000 82,000
Purchase of vested employee restricted stock units (2,268,000) (1,562,000) (1,514,000)
Payment of dividend equivalents on vested restricted stock units (94,000) (7,000) 0
Payment of dividends on common stock (8,666,000) 0 0
Payment of fees associated with the issuance of preferred stock 0 (220,000) 0
Payments of dividends on preferred stock (1,788,000) (413,000) 0
ProceedsFromShortTermDebt 24,500,000 58,000,000 15,500,000
PaymentsOfDebtIssuanceCosts (8,038,000) 0 0
PaymentsOfDebtExtinguishmentCosts (5,977,000) 0 0
Net cash provided by (used in) financing activities (34,851,000) 4,583,000 (38,932,000)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 37,674,000 (22,371,000) 19,309,000
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR 9,169,000 31,540,000 12,231,000
CASH AND CASH EQUIVALENTS, END OF PERIOD 46,843,000 9,169,000 31,540,000
Cash paid during the period for:      
Interest 34,568,000 34,822,000 35,593,000
Income taxes 381,000 81,000 79,000
Dividends on common stock 8,666,000 0 0
Dividends on preferred stock $ 1,788,000 $ 413,000 $ 0