Segment Information

6 Months Ended

Jun. 30, 2013

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 56 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. There were no significant sources of revenue generated outside the United States during the three- and six-month periods ended June 30, 2013 and 2012. The Company evaluates the performance of its operating segments based on the following (in thousands):

	Three-Month Period Ended June 30,						% Change			Six-Month Period Ended June 30,						% Change
	2013			2012			2013 to 2012			2013			2012			2013 to 2012
Net Revenue
Television	$	39,590		$	37,399			6	%	$	74,542		$	70,563			6	%
Radio		17,360			17,092			2	%		31,495			30,452			3	%
Consolidated		56,950			54,491			5	%		106,037			101,015			5	%
Direct operating expenses
Television		15,991			13,997			14	%		30,979			27,218			14	%
Radio		9,997			8,879			13	%		19,234			17,292			11	%
Consolidated		25,988			22,876			14	%		50,213			44,510			13	%
Selling, general and administrative expenses
Television		3,582			5,209			(31	)%		7,508			10,523			(29	)%
Radio		3,842			4,426			(13	)%		7,599			8,484			(10	)%
Consolidated		7,424			9,635			(23	)%		15,107			19,007			(21	)%
Depreciation and amortization
Television		3,114			3,303			(6	)%		6,331			6,861			(8	)%
Radio		706			773			(9	)%		1,444			1,562			(8	)%
Consolidated		3,820			4,076			(6	)%		7,775			8,423			(8	)%
Segment operating profit
Television		16,903			14,890			14	%		29,724			25,961			14	%
Radio		2,815			3,014			(7	)%		3,218			3,114			3	%
Consolidated		19,718			17,904			10	%		32,942			29,075			13	%
Corporate expenses		4,736			4,181			13	%		9,233			8,062			15	%
Operating income (loss)		14,982			13,723			9	%		23,709			21,013			13	%
Interest expense		(7,881	)		(8,959	)		(12	)%		(15,665	)		(18,059	)		(13	)%
Interest income		9			9			0	%		16			13			23	%
Gain (loss) on debt extinguishment		(130	)		(1,230	)		(89	)%		(130	)		(1,230	)		(89	)%
Income (loss) before income taxes	$	6,980		$	3,543			97	%	$	7,930		$	1,737			357	%
Capital expenditures
Television		1,769		$	1,763						3,555		$	2,682
Radio		544			536						686			906
Consolidated	$	2,313		$	2,299					$	4,241		$	3,588
										June 30,			December 31,
										2013			2012
Total assets
Television										$	326,486		$	313,904
Radio											122,070			124,147
Consolidated										$	448,556		$	438,051