Segment Information

6 Months Ended

Jun. 30, 2012

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 49 radio stations (38 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 six-month periods ended June 30, 2012 and 2011. The Company evaluates the performance of its operating segments based on the following (in thousands):

	Three-Month Period									Six-Month Period
	Ended June 30,						% Change			Ended June 30,						% Change
	2012			2011			2012 to 2011			2012			2011			2012 to 2011
Net Revenue
Television	$	37,399		$	33,118			13	%	$	70,563		$	63,786			11	%
Radio		17,092			17,147			(0	)%		30,452			30,523			(0	)%
Consolidated		54,491			50,265			8	%		101,015			94,309			7	%
Direct operating expenses
Television		13,997			13,665			2	%		27,218			26,324			3	%
Radio		8,879			8,822			1	%		17,292			16,984			2	%
Consolidated		22,876			22,487			2	%		44,510			43,308			3	%
Selling, general and administrative expenses
Television		5,209			4,991			4	%		10,523			10,162			4	%
Radio		4,426			4,295			3	%		8,484			8,367			1	%
Consolidated		9,635			9,286			4	%		19,007			18,529			3	%
Depreciation and amortization
Television		3,303			3,539			(7	)%		6,861			7,374			(7	)%
Radio		773			886			(13	)%		1,562			1,783			(12	)%
Consolidated		4,076			4,425			(8	)%		8,423			9,157			(8	)%
Segment operating profit
Television		14,890			10,923			36	%		25,961			19,926			30	%
Radio		3,014			3,144			(4	)%		3,114			3,389			(8	)%
Consolidated		17,904			14,067			27	%		29,075			23,315			25	%
Corporate expenses		4,181			3,772			11	%		8,062			7,517			7	%
Operating income (loss)		13,723			10,295			33	%		21,013			15,798			33	%
Interest expense		(8,959	)		(9,459	)		(5	)%		(18,059	)		(18,902	)		(4	)%
Interest income		9			—			*			13			2			*
Other income (loss)		—			—			*			—			687			(100	)%
Gain (loss) on debt extinguishment		(1,230	)		—			*			(1,230	)		—			*
Income (loss) before income taxes	$	3,543		$	836			324	%	$	1,737		$	(2,415	)		*
Capital expenditures
Television	$	1,763		$	1,413					$	2,682		$	4,030
Radio		536			186						906			336
Consolidated	$	2,299		$	1,599					$	3,588		$	4,366

	June 30, 2012		December 31, 2011
Total assets
Television	$	323,786	$	342,462
Radio		123,157		124,859
Consolidated	$	446,943	$	467,321