Condensed Consolidating Financial Statements (Tables)

6 Months Ended

Jun. 30, 2012

Condensed Consolidating Financial Statements [Abstract]

Consolidating Balance Sheet

Consolidating Balance Sheet

June 30, 2012

(In thousands)

				Guarantor			Non-Guarantor					Consolidated
	Parent			Subsidiaries			Subsidiaries		Eliminations			Total
ASSETS
Current assets
Cash and cash equivalents	$	40,492		$	—		$	265	$	—		$	40,757
Trade receivables, net of allowance for doubtful accounts		47,900			—			406		—			48,306
Prepaid expenses and other current assets		5,506			—			191		—			5,697
Total current assets		93,898			—			862		—			94,760
Property and equipment, net		59,101			—			2,822		—			61,923
Intangible assets subject to amortization, net		23,067			—			—		—			23,067
Intangible assets not subject to amortization		38,739			178,262			3,700		—			220,701
Goodwill		35,653			—			994		—			36,647
Investment in subsidiaries		168,545			—			—		(168,545	)		—
Other assets		9,845			—			12,807		(12,807	)		9,845
Total assets	$	428,848		$	178,262		$	21,185	$	(181,352	)	$	446,943
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities
Advances payable, related parties	$	118		$	—		$	—	$	—		$	118
Accounts payable and accrued expenses		47,634			—			630		(10,798	)		37,466
Total current liabilities		47,752			—			630		(10,798	)		37,584
Long-term debt, less current maturities		360,155			—			—		—			360,155
Other long-term liabilities		7,666			—			—		—			7,666
Deferred income taxes		14,167			30,272			—		(2,009	)		42,430
Total liabilities		429,740			30,272			630		(12,807	)		447,835
Stockholders’ equity (deficit)
Class A common stock		5			—			—		—			5
Class B common stock		2			—			—		—			2
Class U common stock		1			—			—		—			1
Member’s capital		—			804,654			—		(804,654	)		—
Additional paid-in capital		939,451			—			12,652		(12,652	)		939,451
Accumulated deficit		(940,351	)		(656,664	)		7,903		648,761			(940,351	)
Total stockholders’ equity (deficit)		(892	)		147,990			20,555		(168,545	)		(892	)
Total liabilities and stockholders’ equity (deficit)	$	428,848		$	178,262		$	21,185	$	(181,352	)	$	446,943

Consolidating Balance Sheet

December 31, 2011

(In thousands)

				Guarantor			Non-Guarantor					Consolidated
	Parent			Subsidiaries			Subsidiaries		Eliminations			Total
ASSETS
Current assets
Cash and cash equivalents	$	58,276		$	—		$	443	$	—		$	58,719
Trade receivables, net of allowance for doubtful accounts		43,951			—			319		—			44,270
Prepaid expenses and other current assets		5,678			—			261		—			5,939
Total current assets		107,905			—			1,023		—			108,928
Property and equipment, net		62,046			—			3,180		—			65,226
Intangible assets subject to amortization, net		24,598			—			—		—			24,598
Intangible assets not subject to amortization		38,739			178,262			3,700		—			220,701
Goodwill		35,653			—			994		—			36,647
Investment in subsidiaries		170,580			—			—		(170,580	)		—
Other assets		11,221			—			12,603		(12,603	)		11,221
Total assets	$	450,742		$	178,262		$	21,500	$	(183,183	)	$	467,321
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities
Advances payable, related parties	$	118		$	—		$	—	$	—		$	118
Accounts payable and accrued expenses		49,633			—			930		(10,813	)		39,750
Total current liabilities		49,751			—			930		(10,813	)		39,868
Long-term debt, less current maturities		379,662			—			—		—			379,662
Other long-term liabilities		8,327			—			—		—			8,327
Deferred income taxes		13,563			28,252			—		(1,790	)		40,025
Total liabilities		451,303			28,252			930		(12,603	)		467,882
Stockholders’ equity (deficit)
Class A common stock		5			—			—		—			5
Class B common stock		2			—			—		—			2
Class U common stock		1			—			—		—			1
Member’s capital		—			804,654			12,652		(817,306	)		—
Additional paid-in capital		938,453			—			—		—			938,453
Accumulated deficit		(939,022	)		(654,644	)		7,918		646,726			(939,022	)
Total stockholders’ equity (deficit)		(561	)		150,010			20,570		(170,580	)		(561	)
Total liabilities and stockholders’ equity (deficit)	$	450,742		$	178,262		$	21,500	$	(183,183	)	$	467,321

Consolidating Statement of Operations

Consolidating Statement of Operations

Three-Month Period Ended June 30, 2012

(In thousands)

				Guarantor			Non-Guarantor						Consolidated
	Parent			Subsidiaries			Subsidiaries			Eliminations			Total
Net revenue	$	54,360		$	—		$	496		$	(365	)	$	54,491
Expenses:
Direct operating expenses		22,859			—			382			(365	)		22,876
Selling, general and administrative expenses		9,516			—			119			—			9,635
Corporate expenses		4,181			—			—			—			4,181
Depreciation and amortization		3,898			—			178			—			4,076
		40,454			—			679			(365	)		40,768
Operating income (loss)		13,906			—			(183	)		—			13,723
Interest expense		(8,959	)		—			—			—			(8,959	)
Interest income		9			—			—			—			9
Gain (loss) on debt extinguishment		(1,230	)		—			—			—			(1,230	)
Income (loss) before income taxes		3,726			—			(183	)		—			3,543
Income tax (expense) benefit		(570	)		(1,010	)		103			—			(1,477	)
Income (loss) before equity in net income (loss) of subsidiaries		3,156			(1,010	)		(80	)		—			2,066
Equity in income (loss) of subsidiaries		(1,090	)		—			—			1,090			—
Net income (loss) applicable to common stockholders	$	2,066		$	(1,010	)	$	(80	)	$	1,090		$	2,066

Consolidating Statement of Operations

Three-Month Period Ended June 30, 2011

(In thousands)

				Guarantor			Non-Guarantor						Consolidated
	Parent			Subsidiaries			Subsidiaries			Eliminations			Total
Net revenue	$	49,863		$	—		$	1,106		$	(704	)	$	50,265
Expenses:
Direct operating expenses		22,766			—			425			(704	)		22,487
Selling, general and administrative expenses		9,150			—			136			—			9,286
Corporate expenses		3,772			—			—			—			3,772
Depreciation and amortization		4,221			—			204			—			4,425
		39,909			—			765			(704	)		39,970
Operating income (loss)		9,954			—			341			—			10,295
Interest expense		(9,459	)		—			—			—			(9,459	)
Income (loss) before income taxes		495			—			341			—			836
Income tax (expense) benefit		(145	)		(851	)		(192	)		—			(1,188	)
Income (loss) before equity in net income (loss) of subsidiaries		350			(851	)		149			—			(352	)
Equity in income (loss) of subsidiaries		(702	)		—			—			702			—
Net income (loss) applicable to common stockholders	$	(352	)	$	(851	)	$	149		$	702		$	(352	)

Consolidating Statement of Operations

Six-Month Period Ended June 30, 2012

(In thousands)

				Guarantor			Non-Guarantor						Consolidated
	Parent			Subsidiaries			Subsidiaries			Eliminations			Total
Net revenue	$	100,309		$	—		$	1,342		$	(636	)	$	101,015
Expenses:
Direct operating expenses		44,379			—			767			(636	)		44,510
Selling, general and administrative expenses		18,761			—			246			—			19,007
Corporate expenses		8,062			—			—			—			8,062
Depreciation and amortization		8,059			—			364			—			8,423
		79,261			—			1,377			(636	)		80,002
Operating income (loss)		21,048			—			(35	)		—			21,013
Interest expense		(18,059	)		—			—			—			(18,059	)
Interest income		13			—			—			—			13
Gain (loss) on debt extinguishment		(1,230	)		—			—			—			(1,230	)
Income (loss) before income taxes		1,772			—			(35	)		—			1,737
Income tax (expense) benefit		(1,066	)		(2,020	)		20			—			(3,066	)
Income (loss) before equity in net income (loss) of subsidiaries		706			(2,020	)		(15	)		—			(1,329	)
Equity in income (loss) of subsidiaries		(2,035	)		—			—			2,035			—
Net income (loss) applicable to common stockholders	$	(1,329	)	$	(2,020	)	$	(15	)	$	2,035		$	(1,329	)

Consolidating Statement of Operations

Six-Month Period Ended June 30, 2011

(In thousands)

				Guarantor			Non-Guarantor						Consolidated
	Parent			Subsidiaries			Subsidiaries			Eliminations			Total
Net revenue	$	93,696		$	—		$	1,949		$	(1,336	)	$	94,309
Expenses:
Direct operating expenses		43,865			—			779			(1,336	)		43,308
Selling, general and administrative expenses		18,265			—			264			—			18,529
Corporate expenses		7,517			—			—			—			7,517
Depreciation and amortization		8,748			—			409			—			9,157
		78,395			—			1,452			(1,336	)		78,511
Operating income (loss)		15,301			—			497			—			15,798
Interest expense		(18,902	)		—			—			—			(18,902	)
Interest income		2			—			—			—			2
Other income (loss)		687			—			—			—			687
Income (loss) before income taxes		(2,912	)		—			497			—			(2,415	)
Income tax (expense) benefit		(394	)		(1,695	)		(280	)		—			(2,369	)
Income (loss) before equity in net income (loss) of subsidiaries		(3,306	)		(1,695	)		217			—			(4,784	)
Equity in income (loss) of subsidiaries		(1,478	)		—			—			1,478			—
Net income (loss) applicable to common stockholders	$	(4,784	)	$	(1,695	)	$	217		$	1,478		$	(4,784	)

Consolidating Statement of Cash Flows

Consolidating Statement of Cash Flows

Six-Month Period Ended June 30, 2012

(In thousands)

				Guarantor			Non-Guarantor						Consolidated
	Parent			Subsidiaries			Subsidiaries			Eliminations			Total
Cash flows from operating actvities:
Net income (loss)	$	(1,329	)	$	(2,020	)	$	(15	)	$	2,035		$	(1,329	)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation and amortization		8,059			—			364			—			8,423
Deferred income taxes		580			2,020			(195	)		—			2,405
Amortization of debt issue costs		1,137			—			—			—			1,137
Amortization of syndication contracts		381			—			—			—			381
Payments on syndication contracts		(934	)		—			—			—			(934	)
Non-cash stock-based compensation		998			—			—			—			998
Gain (loss) on debt extinguishment		1,230			—			—			—			1,230
Changes in assets and liabilities, net of effect of acquisitions and dispositions:
(Increase) decrease in accounts receivable		(3,684	)		—			(87	)		—			(3,771	)
(Increase) decrease in amounts due from related party		(15	)		—			15			—			—
(Increase) decrease in prepaid expenses and other assets		(223	)		—			46			—			(177	)
Increase (decrease) in accounts payable, accrued expenses and other liabilities		(1,698	)		—			(300	)		—			(1,998	)
Net cash provided by (used in) operating activities		4,502			—			(172	)		2,035			6,365
Cash flows from investing actvities:
Investment in subsidiaries		2,035			—			—			(2,035	)		—
Purchases of property and equipment and intangibles		(3,641	)		—			(6	)		—			(3,647	)
Net cash provided by (used in) investing activities		(1,606	)		—			(6	)		(2,035	)		(3,647	)
Cash flows from financing actvities:
Payments on long-term debt		(20,600	)		—			—			—			(20,600	)
Payments of deferred debt and offering costs		(80	)		—			—			—			(80	)
Net cash provided by (used in) financing activities		(20,680	)		—			—			—			(20,680	)
Net increase (decrease) in cash and cash equivalents		(17,784	)		—			(178	)		—			(17,962	)
Cash and cash equivalents:
Beginning		58,276			—			443			—			58,719
Ending	$	40,492		$	—		$	265		$	—		$	40,757

Consolidating Statement of Cash Flows

Six-Month Period Ended June 30, 2011

(In thousands)

	Parent			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated Total
Cash flows from operating actvities:
Net income (loss)	$	(4,784	)	$	(1,695	)	$	217		$	1,478		$	(4,784	)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation and amortization		8,748			—			409			—			9,157
Deferred income taxes		(210	)		1,695			132			—			1,617
Amortization of debt issue costs		1,086			—			—			—			1,086
Amortization of syndication contracts		1,143			—			—			—			1,143
Payments on syndication contracts		(955	)		—			—			—			(955	)
Non-cash stock-based compensation		864			—			—			—			864
Other income (loss)		(687	)		—			—			—			(687	)
Changes in assets and liabilities, net of effect of acquisitions and dispositions:
(Increase) decrease in restricted cash		809			—			—			—			809
(Increase) decrease in accounts receivable		1,778			—			(173	)		—			1,605
(Increase) decrease in amounts due from related party		406			—			(406	)		—			—
(Increase) decrease in prepaid expenses and other assets		73			—			(26	)		—			47
Increase (decrease) in accounts payable, accrued expenses and other liabilities		(739	)		—			(44	)		—			(783	)
Net cash provided by (used in) operating activities		7,532			—			109			1,478			9,119
Cash flows from investing actvities:
Investment in subsidiaries		1,478			—			—			(1,478	)		—
Purchase of a business		(551	)		—			—			—			(551	)
Purchases of property and equipment and intangibles		(4,511	)		—			(191	)		—			(4,702	)
Net cash provided by (used in) investing activities		(3,584	)		—			(191	)		(1,478	)		(5,253	)
Cash flows from financing actvities:
Proceeds from issuance of common stock		42			—			—			—			42
Payments on long-term debt		(1,000	)		—			—			—			(1,000	)
Payments of deferred debt and offering costs		(29	)		—			—			—			(29	)
Net cash provided by (used in) financing activities		(987	)		—			—			—			(987	)
Net increase (decrease) in cash and cash equivalents		2,961			—			(82	)		—			2,879
Cash and cash equivalents:
Beginning		72,140			—			250			—			72,390
Ending	$	75,101		$	—		$	168		$	—		$	75,269