Condensed Consolidating Financial Statements (Tables)

3 Months Ended

Mar. 31, 2013

Condensed Consolidating Financial Statements [Abstract]

Consolidating Balance Sheet

Consolidating Balance Sheet

March 31, 2013

(In thousands)

	Parent			Guarantor Subsidiaries			Non-Guarantor Subsidiaries		Eliminations			Consolidated Total
ASSETS
Current assets
Cash and cash equivalents	$	31,868		$	—		$	447	$	—		$	32,315
Trade receivables, net of allowance for doubtful accounts		45,989			—			372		—			46,361
Prepaid expenses and other current assets		4,320			—			640		—			4,960
Total current assets		82,177			—			1,459		—			83,636
Property and equipment, net		57,454			—			2,588		—			60,042
Intangible assets subject to amortization, net		21,714			—			—		—			21,714
Intangible assets not subject to amortization		38,739			178,262			3,700		—			220,701
Goodwill		35,653			—			994		—			36,647
Investment in subsidiaries		162,651			—			—		(162,651	)		—
Other assets		8,072			—			10,396		(10,396	)		8,072
Total assets	$	406,460		$	178,262		$	19,137	$	(173,047	)	$	430,812
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities
Current maturities of long-term debt	$	200		$	—		$	—	$	—		$	200
Advances payable, related parties		118			—			—		—			118
Accounts payable and accrued expenses		38,117			—			747		(9,009	)		29,855
Total current liabilities		38,435			—			747		(9,009	)		30,173
Long-term debt, less current maturities		340,748			—			—		—			340,748
Other long-term liabilities		7,180			—			—		—			7,180
Deferred income taxes		14,429			34,001			—		(1,387	)		47,043
Total liabilities		400,792			34,001			747		(10,396	)		425,144
Stockholders’ equity (deficit)
Class A common stock		6			—			—		—			6
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		932,037			—			—		—			932,037
Accumulated deficit		(926,378	)		(660,393	)		5,738		654,655			(926,378	)
Total stockholders’ equity (deficit)		5,668			144,261			18,390		(162,651	)		5,668
Total liabilities and stockholders’ equity (deficit)	$	406,460		$	178,262		$	19,137	$	(173,047	)	$	430,812

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 U 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 Statement of Operations

Consolidating Statement of Operations

Three-Month Period Ended March 31, 2013

(In thousands)

	Parent			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated Total
Net revenue	$	48,757		$	—		$	826		$	(496	)	$	49,087
Expenses:
Direct operating expenses		24,374			—			347			(496	)		24,225
Selling, general and administrative expenses		7,535			—			148			—			7,683
Corporate expenses		4,497			—			—			—			4,497
Depreciation and amortization		3,813			—			142			—			3,955
		40,219			—			637			(496	)		40,360
Operating income (loss)		8,538			—			189			—			8,727
Interest expense		(7,784	)		—			—			—			(7,784	)
Interest income		7			—			—			—			7
Income (loss) before income taxes		761			—			189			—			950
Income tax benefit (expense)		(14	)		(1,787	)		(106	)		—			(1,907	)
Income (loss) before equity in net income (loss) of subsidiaries		747			(1,787	)		83			—			(957	)
Equity in income (loss) of subsidiaries		(1,704	)		—			—			1,704			—
Net income (loss) applicable to common stockholders	$	(957	)	$	(1,787	)	$	83		$	1,704		$	(957	)

Consolidating Statement of Operations

Three-Month Period Ended March 31, 2012

(In thousands)

	Parent			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated Total
Net revenue	$	45,949		$	—		$	846		$	(271	)	$	46,524
Expenses:
Direct operating expenses		21,520			—			385			(271	)		21,634
Selling, general and administrative expenses		9,245			—			127			—			9,372
Corporate expenses		3,881			—			—			—			3,881
Depreciation and amortization		4,161			—			186			—			4,347
		38,807			—			698			(271	)		39,234
Operating income (loss)		7,142			—			148			—			7,290
Interest expense		(9,100	)		—			—			—			(9,100	)
Interest income		4			—			—			—			4
Income (loss) before income taxes		(1,954	)		—			148			—			(1,806	)
Income tax benefit (expense)		(496	)		(1,010	)		(83	)		—			(1,589	)
Income (loss) before equity in net income (loss) of subsidiaries		(2,450	)		(1,010	)		65			—			(3,395	)
Equity in income (loss) of subsidiaries		(945	)		—			—			945			—
Net income (loss) applicable to common stockholders	$	(3,395	)	$	(1,010	)	$	65		$	945		$	(3,395	)

Consolidating Statement of Cash Flows

Consolidating Statement of Cash Flows

Three-Month Period Ended March 31, 2013

(In thousands)

	Parent			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated Total
Cash flows from operating activities:
Net income (loss)	$	(957	)	$	(1,787	)	$	83		$	1,704		$	(957	)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation and amortization		3,813			—			142			—			3,955
Deferred income taxes		(40	)		1,787			95			—			1,842
Amortization of debt issue costs		455			—			—			—			455
Amortization of syndication contracts		151			—			—			—			151
Payments on syndication contracts		(325	)		—			—			—			(325	)
Non-cash stock-based compensation		872			—			—			—			872
Changes in assets and liabilities, net of effect of acquisitions and dispositions:
(Increase) decrease in accounts receivable		2,037			—			(121	)		—			1,916
(Increase) decrease in amounts due from related party		(112	)		—			112			—			—
(Increase) decrease in prepaid expenses and other assets		(655	)		—			(173	)		—			(828	)
Increase (decrease) in accounts payable, accrued expenses and other liabilities		(8,697	)		—			5			—			(8,692	)
Net cash provided by (used in) operating activities		(3,458	)		—			143			1,704			(1,611	)
Cash flows from investing activities:
Investment in subsidiaries		1,704			—			—			(1,704	)		—
Purchases of property and equipment and intangibles		(2,360	)		—			(195	)		—			(2,555	)
Net cash provided by (used in) investing activities		(656	)		—			(195	)		(1,704	)		(2,555	)
Cash flows from financing activities:
Proceeds from issuance of common stock		351			—			—			—			351
Net cash provided by (used in) financing activities		351			—			—			—			351
Net increase (decrease) in cash and cash equivalents		(3,763	)		—			(52	)		—			(3,815	)
Cash and cash equivalents:
Beginning		35,631			—			499			—			36,130
Ending	$	31,868		$	—		$	447		$	—		$	32,315

Consolidating Statement of Cash Flows

Three-Month Period Ended March 31, 2012

(In thousands)

	Parent			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated Total
Cash flows from operating activities:
Net income (loss)	$	(3,395	)	$	(1,010	)	$	65		$	945		$	(3,395	)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation and amortization		4,161			—			186			—			4,347
Deferred income taxes		96			1,010			—			—			1,106
Amortization of debt issue costs		563			—			—			—			563
Amortization of syndication contracts		193			—			—			—			193
Payments on syndication contracts		(467	)		—			—			—			(467	)
Non-cash stock-based compensation		261			—			—			—			261
Changes in assets and liabilities, net of effect of acquisitions and dispositions:
(Increase) decrease in accounts receivable		3,466			—			(197	)		—			3,269
(Increase) decrease in amounts due from related party		(11	)		—			11			—			—
(Increase) decrease in prepaid expenses and other assets		(682	)		—			38			—			(644	)
Increase (decrease) in accounts payable, accrued expenses and other liabilities		(11,504	)		—			(35	)		—			(11,539	)
Net cash provided by (used in) operating activities		(7,319	)		—			68			945			(6,306	)
Cash flows from investing activities:
Investment in subsidiaries		945			—			—			(945	)		—
Purchases of property and equipment and intangibles		(1,164	)		—			—			—			(1,164	)
Net cash provided by (used in) investing activities		(219	)		—			—			(945	)		(1,164	)
Cash flows from financing activities:
Payments of deferred debt and offering costs		(80	)		—			—			—			(80	)
Net cash provided by (used in) financing activities		(80	)		—			—			—			(80	)
Net increase (decrease) in cash and cash equivalents		(7,618	)		—			68			—			(7,550	)
Cash and cash equivalents:
Beginning		58,276			—			443			—			58,719
Ending	$	50,658		$	—		$	511		$	—		$	51,169