Segment Information

9 Months Ended

Sep. 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 nine-month periods ended September 30, 2012 and 2011. The Company evaluates the performance of its operating segments based on the following (in thousands):

	Three-Month Period									Nine-Month Period
	Ended September 30,						% Change			Ended September 30,						% Change
	2012			2011			2012 to 2011			2012			2011			2012 to 2011
Net Revenue
Television	$	40,903		$	33,564			22	%	$	111,466		$	97,350			15	%
Radio		17,583			16,551			6	%		48,035			47,074			2	%
Consolidated		58,486			50,115			17	%		159,501			144,424			10	%
Direct operating expenses
Television		14,349			13,668			5	%		41,567			39,992			4	%
Radio		8,944			8,914			0	%		26,236			25,898			1	%
Consolidated		23,293			22,582			3	%		67,803			65,890			3	%
Selling, general and administrative expenses
Television		5,224			4,535			15	%		15,747			14,697			7	%
Radio		4,369			4,086			7	%		12,853			12,453			3	%
Consolidated		9,593			8,621			11	%		28,600			27,150			5	%
Depreciation and amortization
Television		3,227			4,160			(22	)%		10,088			11,534			(13	)%
Radio		786			855			(8	)%		2,348			2,638			(11	)%
Consolidated		4,013			5,015			(20	)%		12,436			14,172			(12	)%
Segment operating profit
Television		18,103			11,201			62	%		44,064			31,127			42	%
Radio		3,484			2,696			29	%		6,598			6,085			8	%
Consolidated		21,587			13,897			55	%		50,662			37,212			36	%
Corporate expenses		4,465			3,885			15	%		12,527			11,402			10	%
Operating income (loss)		17,122			10,012			71	%		38,135			25,810			48	%
Interest expense		(8,671	)		(9,444	)		(8	)%		(26,730	)		(28,346	)		(6	)%
Interest income		10			—			*			23			2			*
Other income (loss)		—			—			*			—			687			(100	)%
Loss on debt extinguishment		—			—			*			(1,230	)		—			*
Income (loss) before income taxes	$	8,461		$	568			*		$	10,198		$	(1,847	)		*
Capital expenditures
Television	$	3,130		$	1,484					$	5,812		$	5,514
Radio		416			465						1,322			801
Consolidated	$	3,546		$	1,949					$	7,134		$	6,315

	September 30, 2012		December 31, 2011
Total assets
Television	$	327,011	$	342,462
Radio		124,496		124,859
Consolidated	$	451,507	$	467,321