Condensed Consolidating Financial Statements (Tables)

9 Months Ended

Sep. 30, 2012

Condensed Consolidating Financial Statements [Abstract]

Consolidating Balance Sheet

	Parent			Guarantor Subsidiaries			Non-Guarantor Subsidiaries		Eliminations			Consolidated Total
ASSETS
Current assets
Cash and cash equivalents	$	45,017		$	—		$	221	$	—		$	45,238
Trade receivables, net of allowance for doubtful accounts		47,939			—			120		—			48,059
Prepaid expenses and other current assets		6,669			—			207		—			6,876
Total current assets		99,625			—			548		—			100,173
Property and equipment, net		59,377			—			2,686		—			62,063
Intangible assets subject to amortization, net		22,457			—			—		—			22,457
Intangible assets not subject to amortization		38,739			178,262			3,700		—			220,701
Goodwill		35,653			—			994		—			36,647
Investment in subsidiaries		167,512			—			—		(167,512	)		—
Other assets		9,466			—			13,242		(13,242	)		9,466
Total assets	$	432,829		$	178,262		$	21,170	$	(180,754	)	$	451,507
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities
Advances payable, related parties	$	118			—		$	—	$	—		$	118
Accounts payable, accrued expenses and other liabilities		42,976			—			639		(11,233	)		32,382
Total current liabilities		43,094			—			639		(11,233	)		32,500
Long-term debt, less current maturities		360,299			—			—		—			360,299
Other long-term liabilities		8,070			—			—		—			8,070
Deferred income taxes		14,238			31,281			—		(2,009	)		43,510
Total liabilities		425,701			31,281			639		(13,242	)		444,379
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		940,238			—			—		—			940,238
Accumulated deficit		(933,118	)		(657,673	)		7,879		649,794			(933,118	)
Total stockholders’ equity (deficit)		7,128			146,981			20,531		(167,512	)		7,128
Total liabilities and stockholders’ equity (deficit)	$	432,829		$	178,262		$	21,170	$	(180,754	)	$	451,507

	Parent			Guarantor Subsidiaries			Non-Guarantor Subsidiaries		Eliminations			Consolidated 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, accrued expenses and other liabilities		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

	Parent			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated Total
Net revenue	$	58,281		$	—		$	603		$	(398	)	$	58,486
Expenses:
Direct operating expenses		23,316			—			375			(398	)		23,293
Selling, general and administrative expenses		9,470			—			123			—			9,593
Corporate expenses		4,465			—			—			—			4,465
Depreciation and amortization		3,853			—			160			—			4,013
		41,104			—			658			(398	)		41,364
Operating income (loss)		17,177			—			(55	)		—			17,122
Interest expense		(8,671	)		—			—			—			(8,671	)
Interest income		10			—			—			—			10
Income (loss) before income taxes		8,516			—			(55	)		—			8,461
Income tax (expense) benefit		(250	)		(1,009	)		31			—			(1,228	)
Income (loss) before equity in net income (loss) of subsidiaries		8,266			(1,009	)		(24	)		—			7,233
Equity in net income (loss) of subsidiaries		(1,033	)		—			—			1,033			—
Net income (loss) applicable to common stockholders	$	7,233		$	(1,009	)	$	(24	)	$	1,033		$	7,233

				Guarantor			Non-Guarantor						Consolidated
	Parent			Subsidiaries			Subsidiaries			Eliminations			Total
Net revenue	$	49,757		$	—		$	1,024		$	(666	)	$	50,115
Expenses:
Direct operating expenses		22,812			—			436			(666	)		22,582
Selling, general and administrative expenses		8,807			—			(186	)		—			8,621
Corporate expenses		3,885			—			—			—			3,885
Depreciation and amortization		4,805			—			210			—			5,015
		40,309			—			460			(666	)		40,103
Operating income (loss)		9,448			—			564			—			10,012
Interest expense		(9,444	)		—			—			—			(9,444	)
Income (loss) before income taxes		4			—			564			—			568
Income tax (expense) benefit		(787	)		(848	)		(317	)		—			(1,952	)
Income (loss) before equity in net income (loss) of subsidiaries		(783	)		(848	)		247			—			(1,384	)
Equity in net income (loss) of subsidiaries		(601	)		—			—			601			—
Net income (loss) applicable to common stockholders	$	(1,384	)	$	(848	)	$	247		$	601		$	(1,384	)

				Guarantor			Non-Guarantor						Consolidated
	Parent			Subsidiaries			Subsidiaries			Eliminations			Total
Net revenue	$	158,590		$	—		$	1,945		$	(1,034	)	$	159,501
Expenses:
Direct operating expenses		67,695			—			1,142			(1,034	)		67,803
Selling, general and administrative expenses		28,231			—			369			—			28,600
Corporate expenses		12,527			—			—			—			12,527
Depreciation and amortization		11,912			—			524			—			12,436
		120,365			—			2,035			(1,034	)		121,366
Operating income (loss)		38,225			—			(90	)		—			38,135
Interest expense		(26,730	)		—			—			—			(26,730	)
Interest income		23			—			—			—			23
Gain (loss) on debt extinguishment		(1,230	)		—			—			—			(1,230	)
Income (loss) before income taxes		10,288			—			(90	)		—			10,198
Income tax (expense) benefit		(1,316	)		(3,029	)		51			—			(4,294	)
Income (loss) before equity in net income (loss) of subsidiaries		8,972			(3,029	)		(39	)		—			5,904
Equity in net income (loss) of subsidiaries		(3,068	)		—			—			3,068			—
Net income (loss) applicable to common stockholders	$	5,904		$	(3,029	)	$	(39	)	$	3,068		$	5,904

				Guarantor			Non-Guarantor						Consolidated
	Parent			Subsidiaries			Subsidiaries			Eliminations			Total
Net revenue	$	143,453		$	—		$	2,973		$	(2,002	)	$	144,424
Expenses:
Direct operating expenses		66,677			—			1,215			(2,002	)		65,890
Selling, general and administrative expenses		27,072			—			78			—			27,150
Corporate expenses		11,402			—			—			—			11,402
Depreciation and amortization		13,553			—			619			—			14,172
		118,704			—			1,912			(2,002	)		118,614
Operating income (loss)		24,749			—			1,061			—			25,810
Interest expense		(28,346	)		—			—			—			(28,346	)
Interest income		2			—			—			—			2
Other income (loss)		687			—			—			—			687
Income (loss) before income taxes		(2,908	)		—			1,061			—			(1,847	)
Income tax (expense) benefit		(1,181	)		(2,543	)		(597	)		—			(4,321	)
Income (loss) before equity in net income (loss) of subsidiaries		(4,089	)		(2,543	)		464			—			(6,168	)
Equity in net income (loss) of subsidiaries		(2,079	)		—			—			2,079			—
Net income (loss) applicable to common stockholders	$	(6,168	)	$	(2,543	)	$	464		$	2,079		$	(6,168	)

Consolidating Statement of Cash Flows

				Guarantor			Non-Guarantor						Consolidated
	Parent			Subsidiaries			Subsidiaries			Eliminations			Total
Cash flows from operating activities:
Net income (loss)	$	5,904		$	(3,029	)	$	(39	)	$	3,068		$	5,904
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation and amortization		11,912			—			524			—			12,436
Deferred income taxes		760			3,029			(304	)		—			3,485
Amortization of debt issue costs		1,706			—			—			—			1,706
Amortization of syndication contracts		556			—			—			—			556
Payments on syndication contracts		(1,369	)		—			—			—			(1,369	)
Non-cash stock-based compensation		1,763			—			—			—			1,763
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		(3,710	)		—			199			—			(3,511	)
(Increase) decrease in amounts due from related party		311			—			(311	)		—			—
(Increase) decrease in prepaid expenses and other assets		(1,086	)		—			30			—			(1,056	)
Increase (decrease) in accounts payable, accrued expenses and other liabilities		(7,175	)		—			(291	)		—			(7,466	)
Net cash provided by (used in) operating activities		10,802			—			(192	)		3,068			13,678
Cash flows from investing activities:
Investment in subsidiaries		3,068			—			—			(3,068	)		—
Purchase of a business		—			—			—			—			—
Purchases of property and equipment and intangibles		(6,472	)		—			(30	)		—			(6,502	)
Net cash provided by (used in) investing activities		(3,404	)		—			(30	)		(3,068	)		(6,502	)
Cash flows from financing activities:
Proceeds from issuance of common stock		23			—			—			—			23
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		(20,657	)		—			—			—			(20,657	)
Net increase (decrease) in cash and cash equivalents		(13,259	)		—			(222	)		—			(13,481	)
Cash and cash equivalents:
Beginning		58,276			—			443			—			58,719
Ending	$	45,017		$	—		$	221		$	—		$	45,238

				Guarantor			Non-Guarantor						Consolidated
	Parent			Subsidiaries			Subsidiaries			Eliminations			Total
Cash flows from operating activities:
Net income (loss)	$	(6,168	)	$	(2,543	)	$	464		$	2,079		$	(6,168	)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation and amortization		13,553			—			619			—			14,172
Deferred income taxes		540			2,543			361			—			3,444
Amortization of debt issue costs		1,642			—			—			—			1,642
Amortization of syndication contracts		1,297			—			—			—			1,297
Payments on syndication contracts		(1,506	)		—			—			—			(1,506	)
Non-cash stock-based compensation		1,359			—			—			—			1,359
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		1,789			—			(134	)		—			1,655
(Increase) decrease in amounts due from related party		929			—			(929	)		—			—
(Increase) decrease in prepaid expenses and other assets		(298	)		—			37			—			(261	)
Increase (decrease) in accounts payable, accrued expenses and other liabilities		(10,929	)		—			(121	)		—			(11,050	)
Net cash provided by (used in) operating activities		2,330			—			297			2,079			4,706
Cash flows from investing activities:
Investment in subsidiaries		2,079			—			—			(2,079	)		—
Purchase of a business		(588	)		—			—			—			(588	)
Purchases of property and equipment and intangibles		(6,350	)		—			(192	)		—			(6,542	)
Net cash provided by (used in) investing activities		(4,859	)		—			(192	)		(2,079	)		(7,130	)
Cash flows from financing activities:
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		(3,516	)		—			105			—			(3,411	)
Cash and cash equivalents:
Beginning		72,140			—			250			—			72,390
Ending	$	68,624		$	—		$	355		$	—		$	68,979