Segment Information

9 Months Ended

Sep. 30, 2013

Segment Reporting [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 nine-month periods ended September 30, 2013 and 2012. 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
	2013			2012			2013 to 2012			2013			2012			2013 to 2012
Net Revenue
Television	$	39,747		$	40,903			(3	)%	$	114,289		$	111,466			3	%
Radio		18,039			17,583			3	%		49,534			48,035			3	%
Consolidated		57,786			58,486			(1	)%		163,823			159,501			3	%
Direct operating expenses
Television		15,905			14,349			11	%		46,884			41,567			13	%
Radio		9,955			8,944			11	%		29,189			26,236			11	%
Consolidated		25,860			23,293			11	%		76,073			67,803			12	%
Selling, general and administrative expenses
Television		4,127			5,224			(21	)%		11,635			15,747			(26	)%
Radio		4,004			4,369			(8	)%		11,603			12,853			(10	)%
Consolidated		8,131			9,593			(15	)%		23,238			28,600			(19	)%
Depreciation and amortization
Television		2,918			3,227			(10	)%		9,249			10,088			(8	)%
Radio		695			786			(12	)%		2,139			2,348			(9	)%
Consolidated		3,613			4,013			(10	)%		11,388			12,436			(8	)%
Segment operating profit
Television		16,797			18,103			(7	)%		46,521			44,064			6	%
Radio		3,385			3,484			(3	)%		6,603			6,598			0	%
Consolidated		20,182			21,587			(7	)%		53,124			50,662			5	%
Corporate expenses		5,011			4,465			12	%		14,244			12,527			14	%
Operating income (loss)		15,171			17,122			(11	)%		38,880			38,135			2	%
Interest expense		(5,352	)		(8,671	)		(38	)%		(21,017	)		(26,730	)		(21	)%
Interest income		12			10			20	%		28			23			22	%
Gain (loss) on debt extinguishment		(29,404	)		—			*			(29,534	)		(1,230	)		*
Income (loss) before income taxes	$	(19,573	)	$	8,461			*		$	(11,643	)	$	10,198			*
Capital expenditures
Television	$	2,298		$	3,130					$	5,853		$	5,812
Radio		1,098			416						1,785			1,322
Consolidated	$	3,396		$	3,546					$	7,638		$	7,134
										September 30,			December 31,
										2013			2012
Total assets
Television										$	331,189		$	313,904
Radio											124,475			124,147
Consolidated										$	455,664		$	438,051