Condensed Consolidating Financial Statements (Tables)

12 Months Ended

Dec. 31, 2012

Condensed Consolidating Financial Statements [Abstract]

Consolidating Balance Sheet

Consolidating Balance Sheet

December 31, 2012

(In thousands)

	Parent			Guarantor Subsidiaries			Non-Guarantor Subsidiaries		Eliminations			Consolidated Total
ASSETS
Current assets
Cash and cash equivalents	$	35,631		$	—		$	499	$	—		$	36,130
Trade receivables, net of allowance for doubtful accounts		47,779			—			251		—			48,030
Prepaid expenses and other current assets		3,778			—			467		—			4,245
Total current assets		87,188			—			1,217		—			88,405
Property and equipment, net		58,900			—			2,535		—			61,435
Intangible assets subject to amortization, net		22,349			—			—		—			22,349
Intangible assets not subject to amortization		38,739			178,262			3,700		—			220,701
Goodwill		35,653			—			994		—			36,647
Investment in subsidiaries		164,355			—			—		(164,355	)		—
Other assets		8,514			—			10,603		(10,603	)		8,514
Total assets	$	415,698		$	178,262		$	19,049	$	(174,958	)	$	438,051
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities
Current maturities of long-term debt	$	150		$	—		$	—	$	—		$	150
Advances payable, related parties		118			—			—		—			118
Accounts payable and accrued expenses		47,537			—			742		(9,121	)		39,158
Total current liabilities		47,805			—			742		(9,121	)		39,426
Long-term debt, less current maturities		340,664			—			—		—			340,664
Other long-term liabilities		7,359			—			—		—			7,359
Deferred income taxes		14,469			32,214			—		(1,482	)		45,201
Total liabilities		410,297			32,214			742		(10,603	)		432,650
Stockholders’ equity
Class A common stock		5			—			—		—			5
Class B common stock		2			—			—		—			2
Class C common stock		1			—			—		—			1
Member’s capital		—			804,654			12,652		(817,306	)		—
Additional paid-in capital		930,814			—			—		—			930,814
Accumulated deficit		(925,421	)		(658,606	)		5,655		652,951			(925,421	)
Total stockholders’ equity		5,401			146,048			18,307		(164,355	)		5,401
Total liabilities and stockholders’ equity	$	415,698		$	178,262		$	19,049	$	(174,958	)	$	438,051

Consolidating Balance Sheet

December 31, 2011

(In thousands)

	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
Current maturities of long-term debt	$	—		$	—		$	—	$	—		$	—
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
Class A common stock		5			—			—		—			5
Class B common stock		2			—			—		—			2
Class C 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		(561	)		150,010			20,570		(170,580	)		(561	)
Total liabilities and stockholders’ equity	$	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	$	222,050		$	—		$	3,149		$	(1,946	)	$	223,253
Expenses:
Direct operating expenses		92,627			—			1,575			(1,946	)		92,256
Selling, general and administrative expenses		37,320			—			498			—			37,818
Corporate expenses		17,976			—			—			—			17,976
Depreciation and amortization		15,743			—			683			—			16,426
		163,666			—			2,756			(1,946	)		164,476
Operating income (loss)		58,384			—			393			—			58,777
Interest expense		(35,407	)		—			—			—			(35,407	)
Interest income		86			—			—			—			86
Income (loss) on debt extinguishment		(3,743	)		—			—			—			(3,743	)
Income (loss) before income taxes		19,320			—			393			—			19,713
Income tax (expense) benefit		(1,833	)		(3,962	)		(317	)		—			(6,112	)
Income (loss) before equity in net income (loss) of subsidiaries and nonconsolidated affiliate		17,487			(3,962	)		76			—			13,601
Equity in income (loss) of subsidiaries		(3,886	)		—			—			3,886			—
Net income (loss) applicable to common stockholders	$	13,601		$	(3,962	)	$	76		$	3,886		$	13,601

Consolidating Statement of Operations

Year Ended December 31, 2011

(In thousands)

	Parent			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated Total
Net revenue	$	193,081		$	—		$	3,906		$	(2,591	)	$	194,396
Expenses:
Direct operating expenses		89,584			—			1,597			(2,591	)		88,590
Selling, general and administrative expenses		36,305			—			206			—			36,511
Corporate expenses		15,669			—			—			—			15,669
Depreciation and amortization		17,839			—			814			—			18,653
		159,397			—			2,617			(2,591	)		159,423
Operating income (loss)		33,684			—			1,289			—			34,973
Interest expense		(37,650	)		—			—			—			(37,650	)
Interest income		3			—			—			—			3
Other income (loss)		687			—			—			—			687
Income (loss) on debt extinguishment		(423	)		—			—			—			(423	)
Income (loss) before income taxes		(3,699	)		—			1,289			—			(2,410	)
Income tax (expense) benefit		(1,510	)		(3,423	)		(857	)		—			(5,790	)
Income (loss) before equity in net income (loss) of subsidiaries and nonconsolidated affiliate		(5,209	)		(3,423	)		432			—			(8,200	)
Equity in income (loss) of subsidiaries		(2,991	)		—			—			2,991			—
Net income (loss) applicable to common stockholders	$	(8,200	)	$	(3,423	)	$	432		$	2,991		$	(8,200	)

Consolidating Statement of Operations

Year Ended December 31, 2010

(In thousands)

	Parent			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated Total
Net revenue	$	199,314		$	—		$	3,604		$	(2,442	)	$	200,476
Expenses:
Direct operating expenses		85,895			—			1,349			(2,442	)		84,802
Selling, general and administrative expenses		37,489			—			557			—			38,046
Corporate expenses		18,416			—			—			—			18,416
Depreciation and amortization		18,417			—			812			—			19,229
Impairment charge		11,992			15,368			8,749			—			36,109
		172,209			15,368			11,467			(2,442	)		196,602
Operating income (loss)		27,105			(15,368	)		(7,863	)		—			3,874
Interest expense		(24,429	)		—			—			—			(24,429	)
Interest income		260			—			—			—			260
Income (loss) on debt extinguishment		(987	)		—			—			—			(987	)
Income (loss) before income taxes		1,949			(15,368	)		(7,863	)		—			(21,282	)
Income tax benefit (expense)		(2,617	)		3,225			2,768			—			3,376
Income (loss) before equity in net income (loss) of subsidiaries and nonconsolidated affiliate		(668	)		(12,143	)		(5,095	)		—			(17,906	)
Equity in income (loss) of subsidiaries		(17,238	)		—			—			17,238			—
Income (loss) before equity in net income (loss) of nonconsolidated affiliates		(17,906	)		(12,143	)		(5,095	)		17,238			(17,906	)
Equity in net income (loss) of nonconsolidated affiliates		(180	)		—			—			—			(180	)
Net income (loss) applicable to common stockholders	$	(18,086	)	$	(12,143	)	$	(5,095	)	$	17,238		$	(18,086	)

Consolidating Statement of Cash Flows

	Parent			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated Total
Cash flows from operating activities:
Net income (loss)	$	13,601		$	(3,962	)	$	76		$	3,886		$	13,601
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization		15,743			—			683			—			16,426
Deferred income taxes		2,470			3,962			45			—			6,477
Amortization of debt issue costs		2,284			—			—			—			2,284
Amortization of syndication contracts		707			—			—			—			707
Payments on syndication contracts		(1,698	)		—			—			—			(1,698	)
Non-cash stock-based compensation		2,651			—			—			—			2,651
Other (income) loss		—			—			—			—			—
(Gain) loss on debt extinguishment		3,743			—			—			—			3,743
Changes in assets and liabilities, net of effect of acquisitions and dispositions:		—												—
(Increase) decrease in restricted cash		—			—			—			—			—
(Increase) decrease in accounts receivable		(3,808	)		—			68			—			(3,740	)
(Increase) decrease in amounts due from related party		394			—			(394	)					—
(Increase) decrease in prepaid expenses and other assets		517			—			(196	)		—			321
Increase (decrease) in accounts payable, accrued expenses and other liabilities		(552	)		—			(188	)		—			(740	)
Net cash provided by (used in) operating activities		36,052			—			94			3,886			40,032
Cash flows from investing activities:
Purchases of property and equipment and intangibles		(9,818	)		—			(38	)		—			(9,856	)
Investment in subsidiaries		3,886			—			—			(3,886	)		—
Purchase of a business		—			—			—			—			—
Net cash provided by (used in) investing activities		(5,932	)		—			(38	)		(3,886	)		(9,856	)
Cash flows from financing activities:
Proceeds from issuance of common stock		23			—			—			—			23
Payments on long-term debt		(61,800	)		—			—			—			(61,800	)
Dividends paid		(10,313	)		—			—			—			(10,313	)
Proceeds from borrowings on long-term debt		20,000			—			—			—			20,000
Payments of deferred debt and offering costs		(675	)		—			—			—			(675	)
Net cash provided by (used in) financing activities		(52,765	)		—			—			—			(52,765	)
Net increase (decrease) in cash and cash equivalents		(22,645	)		—			56			—			(22,589	)
Cash and cash equivalents:
Beginning		58,276			—			443			—			58,719
Ending	$	35,631		$	—		$	499		$	—		$	36,130

Consolidating Statement of Cash Flows

Year ended December 31, 2011

(In thousands)

	Parent			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated Total
Cash flows from operating activities:
Net income (loss)	$	(8,200	)	$	(3,423	)	$	432		$	2,991		$	(8,200	)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization		17,839			—			814			—			18,653
Deferred income taxes		883			3,423			259			—			4,565
Amortization of debt issue costs		2,207			—			—			—			2,207
Amortization of syndication contracts		1,482			—			—			—			1,482
Payments on syndication contracts		(1,976	)		—			—			—			(1,976	)
Non-cash stock-based compensation		2,343			—			—			—			2,343
Other (income) loss		(687	)		—			—			—			(687	)
(Gain) loss on debt extinguishment		423			—			—			—			423
Changes in assets and liabilities, net of effect of acquisitions and dispositions:		—												—
(Increase) decrease in restricted cash		809			—			—			—			809
(Increase) decrease in accounts receivable		(505	)		—			(69	)		—			(574	)
(Increase) decrease in amounts due from related party		1,300			—			(1,300	)					—
(Increase) decrease in prepaid expenses and other assets		283			—			53			—			336
Increase (decrease) in accounts payable, accrued expenses and other liabilities		(1,965	)		—			195			—			(1,770	)
Net cash provided by (used in) operating activities		14,236			—			384			2,991			17,611
Cash flows from investing activities:
Purchases of property and equipment and intangibles		(8,333	)		—			(191	)		—			(8,524	)
Investment in subsidiaries		2,991			—			—			(2,991	)		—
Purchase of a business		(598	)		—			—			—			(598	)
Net cash provided by (used in) investing activities		(5,940	)		—			(191	)		(2,991	)		(9,122	)
Cash flows from financing activities:
Proceeds from issuance of common stock		42			—			—			—			42
Payments on long-term debt		(17,071	)		—			—			—			(17,071	)
Dividends paid		(5,102	)		—			—			—			(5,102	)
Payments of deferred debt and offering costs		(29	)		—			—			—			(29	)
Net cash provided by (used in) financing activities		(22,160	)		—			—			—			(22,160	)
Net increase (decrease) in cash and cash equivalents		(13,864	)		—			193			—			(13,671	)
Cash and cash equivalents:
Beginning		72,140			—			250			—			72,390
Ending	$	58,276		$	—		$	443		$	—		$	58,719

Consolidating Statement of Cash Flows

Year ended December 31, 2010

(In thousands)

	Parent			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated Total
Cash flows from operating activities:
Net income (loss)	$	(18,086	)	$	(12,143	)	$	(5,095	)	$	17,238		$	(18,086	)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization		18,417			—			812			—			19,229
Impairment charge		11,992			15,368			8,749			—			36,109
Deferred income taxes		1,994			(3,225	)		(3,111	)		—			(4,342	)
Amortization of debt issue costs		1,140			—			—			—			1,140
Amortization of syndication contracts		1,159			—			—			—			1,159
Payments on syndication contracts		(2,724	)		—			—			—			(2,724	)
Equity in net income (loss) of nonconsolidated affiliate		180			—			—			—			180
Non-cash stock-based compensation		2,970			—			—			—			2,970
(Gain) loss on debt extinguishment		934			—			—			—			934
Reserve for note receivable		3,018			—			—			—			3,018
Change in fair value of interest rate swap agreements		(12,188	)		—			—			—			(12,188	)
Changes in assets and liabilities, net of effect of acquisitions and dispositions:		—												—
(Increase) decrease in restricted cash		(809	)		—			—			—			(809	)
(Increase) decrease in accounts receivable		2,051			—			40			—			2,091
(Increase) decrease in amounts due from related party		184			—			(184	)					—
(Increase) decrease in prepaid expenses and other assets		389			—			(79	)		—			310
Increase (decrease) in accounts payable, accrued expenses and other liabilities		7,930			—			204			—			8,134
Net cash provided by (used in) operating activities		18,551			—			1,336			17,238			37,125
Cash flows from investing activities:
Investment in subsidiaries		17,238									(17,238	)		—
Purchases of property and equipment and intangibles		(7,158	)		—			(1,492	)		—			(8,650	)
Net cash provided by (used in) investing activities		10,080			—			(1,492	)		(17,238	)		(8,650	)
Cash flows from financing activities:
Proceeds from issuance of common stock		239			—			—			—			239
Payments on long-term debt		(362,949	)		—			—			—			(362,949	)
Termination of swap agreements		(4,039	)		—			—			—			(4,039	)
Proceeds from borrowings on long-term debt		394,888			—			—			—			394,888
Payments of deferred debt and offering costs		(11,890	)		—			—			—			(11,890	)
Net cash provided by (used in) financing activities		16,249			—			—			—			16,249
Net increase (decrease) in cash and cash equivalents		44,880			—			(156	)		—			44,724
Cash and cash equivalents:
Beginning		27,260			—			406			—			27,666
Ending	$	72,140		$	—		$	250		$	—		$	72,390