Segment Information

9 Months Ended

Sep. 30, 2011

Segment Information [Abstract]

Segment Information

3. SEGMENT INFORMATION

The Company operates in two reportable segments: television broadcasting and radio broadcasting.

Television Broadcasting

The Company owns and/or operates 53 primary television stations located primarily in California, Colorado, Connecticut, Florida, Massachusetts, Nevada, New Mexico, Texas and the Washington, D.C. area.

Radio Broadcasting

The Company owns and operates 48 radio stations (37 FM and 11 AM) located primarily in Arizona, California, Colorado, Florida, Nevada, New Mexico and Texas.

Separate financial data for each of the Company's operating segments are provided below. Segment operating profit (loss) is defined as operating profit (loss) before corporate expenses and impairment charge. There were no significant sources of revenue generated outside the United States during the three- and nine-month periods ended September 30, 2011 and 2010. The Company evaluates the performance of its operating segments based on the following (in thousands):

	Three-Month Period Ended September 30,						% Change			Nine-Month Period Ended September 30,						% Change
	2011			2010			2011 to 2010			2011			2010			2011 to 2010
Net Revenue
Television	$	33,564		$	34,322			(2	)%	$	97,350		$	98,786			(1	)%
Radio		16,551			19,003			(13	)%		47,074			51,043			(8	)%
Consolidated		50,115			53,325			(6	)%		144,424			149,829			(4	)%
Direct operating expenses
Television		13,668			13,065			5	%		39,992			39,919			0	%
Radio		8,914			7,946			12	%		25,898			24,022			8	%
Consolidated		22,582			21,011			7	%		65,890			63,941			3	%
Selling, general and administrative expenses
Television		4,535			4,976			(9	)%		14,697			14,983			(2	)%
Radio		4,086			5,237			(22	)%		12,453			13,221			(6	)%
Consolidated		8,621			10,213			(16	)%		27,150			28,204			(4	)%
Depreciation and amortization
Television		4,160			3,947			5	%		11,534			11,616			(1	)%
Radio		855			920			(7	)%		2,638			2,848			(7	)%
Consolidated		5,015			4,867			3	%		14,172			14,464			(2	)%
Segment operating profit
Television		11,201			12,334			(9	)%		31,127			32,268			(4	)%
Radio		2,696			4,900			(45	)%		6,085			10,952			(44	)%
Consolidated		13,897			17,234			(19	)%		37,212			43,220			(14	)%
Corporate expenses		3,885			3,823			2	%		11,402			11,048			3	%
Operating income (loss)		10,012			13,411			(25	)%		25,810			32,172			(20	)%
Interest expense		(9,444	)		(4,394	)		115	%		(28,346	)		(15,171	)		87	%
Interest income		—			92			(100	)%		2			259			(99	)%
Other income (loss)		—			—			0	%		687			—			*
Loss on debt extinguishment		—			(987	)		(100	)%		—			(987	)		(100	)%
Income (loss) before income taxes	$	568		$	8,122			(93	)%	$	(1,847	)	$	16,273			*
Capital expenditures
Television	$	1,484		$	1,071					$	5,514		$	5,101
Radio		465			152						801			709
Consolidated	$	1,949		$	1,223					$	6,315		$	5,810
										September 30, 2011			December 31, 2010
Total assets
Television										$	355,058		$	367,474
Radio											124,031			123,336
Consolidated										$	479,089		$	490,810

* Percentage not meaningful.