Note 11. Guarantor Financial Information (Tables)

6 Months Ended

Jun. 24, 2012

Schedule of Condensed Balance Sheet [Table Text Block]

	Media General Corporate			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Media General Consolidated
ASSETS
Current assets:
Cash and cash equivalents	$	15,419		$	1,242		$	-		$	-		$	16,661
Accounts receivable - net		-			60,702			-			-			60,702
Other		9,782			9,014			-			-			18,796
Assets of discontinued operations		-			183,615			-			-			183,615
Total current assets		25,201			254,573			-			-			279,774
Investment in and advances to subsidiaries		62,133			1,997,804			-			(2,059,937	)		-
Intercompany note receivable		677,941			-			-			(677,941	)		-
Other assets		29,244			6,446			180			-			35,870
Property, plant and equipment - net		22,445			136,963			-			-			159,408
FCC licenses and other intangibles - net		-			201,250			-			-			201,250
Excess cost over fair value of net identifiable assets of acquired businesses		-			247,107			-			-			247,107
TOTAL ASSETS	$	816,964		$	2,844,143		$	180		$	(2,737,878	)	$	923,409
LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)
Current liabilities:
Accounts payable	$	14,605		$	4,735		$	-		$	(6	)	$	19,334
Accrued expenses and other liabilities		39,374			15,270			-			-			54,644
Liabilities of discontinued operations		-			32,547			-			-			32,547
Total current liabilities		53,979			52,552			-			(6	)		106,525
Long-term debt		651,904			7			-			-			651,911
Intercompany loan		-			677,941			-			(677,941	)		-
Retirement, post-retirement and post-employment plans		218,820			-			-			-			218,820
Deferred income taxes		-			52,721			-			-			52,721
Other liabilities and deferred credits		19,456			2,463			775			-			22,694
Stockholders' equity (deficit):
Common stock		116,760			4,872			-			(4,872	)		116,760
Additional paid-in capital		46,989			2,435,790			(2,034	)		(2,435,823	)		44,922
Accumulated other comprehensive loss		(185,116	)		-			-			-			(185,116	)
Retained earnings (accumulated deficit)		(105,828	)		(382,203	)		1,439			380,764			(105,828	)
Total stockholders' equity (deficit)		(127,195	)		2,058,459			(595	)		(2,059,931	)		(129,262	)
TOTAL LIABILITIES & STOCKHOLDERS' EQUITY (DEFICIT)	$	816,964		$	2,844,143		$	180		$	(2,737,878	)	$	923,409

	Media General Corporate			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Media General Consolidated
ASSETS
Current assets:
Cash and cash equivalents	$	21,674		$	1,434		$	-		$	-		$	23,108
Accounts receivable - net		-			59,260			-			-			59,260
Other		3,698			13,815			-			-			17,513
Assets of discontinued operations		-			337,853			-			-			337,853
Total current assets		25,372			412,362			-			-			437,734
Investment in and advances to subsidiaries		233,450			1,985,266			-			(2,218,716	)		-
Intercompany note receivable		677,469			-			-			(677,469	)		-
Other assets		19,694			8,451			205			-			28,350
Property, plant and equipment - net		25,813			144,014			-			-			169,827
FCC licenses and other intangibles - net		-			203,023			-			-			203,023
Excess of cost over fair value of net identifiable assets of acquired businesses		-			247,107			-			-			247,107
TOTAL ASSETS	$	981,798		$	3,000,223		$	205		$	(2,896,185	)	$	1,086,041
LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)
Current liabilities:
Accounts payable	$	11,390		$	5,247		$	-		$	(6	)	$	16,631
Accrued expenses and other liabilities		33,430			13,385			-			-			46,815
Liabilities of discontinued operations		-			38,269			-			-			38,269
Total current liabilities		44,820			56,901			-			(6	)		101,715
Long-term debt		658,199			-			-			-			658,199
Intercompany loan		-			677,469			-			(677,469	)		-
Retirement, post-retirement and post-employment plans		223,132			-			-			-			223,132
Deferred income taxes		-			45,954			-			-			45,954
Other liabilities and deferred credits		19,403			2,890			795			-			23,088
Stockholders' equity (deficit):
Common stock		115,487			4,872			-			(4,872	)		115,487
Additional paid-in capital		31,002			2,435,790			(1,994	)		(2,436,087	)		28,711
Accumulated other comprehensive loss		(185,116	)		-			-			-			(185,116	)
Retained earnings (accumulated deficit)		74,871			(223,653	)		1,404			222,249			74,871
Total stockholders' equity (deficit)		36,244			2,217,009			(590	)		(2,218,710	)		33,953
TOTAL LIABILITIES & STOCKHOLDERS' EQUITY (DEFICIT)	$	981,798		$	3,000,223		$	205		$	(2,896,185	)	$	1,086,041

Schedule of Condensed Income Statement [Table Text Block]

	Media General Corporate			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Media General Consolidated
Revenues	$	7,267		$	84,355		$	-		$	(7,510	)	$	84,112
Operating costs:
Employee compensation		5,299			27,205			(202	)		-			32,302
Production		-			19,169			-			(246	)		18,923
Selling, general and administrative		1,455			16,266			-			(7,298	)		10,423
Depreciation and amortization		565			5,545			-			-			6,110
Total operating costs		7,319			68,185			(202	)		(7,544	)		67,758
Operating income (loss)		(52	)		16,170			202			34			16,354
Other income (expense):
Interest expense		(21,641	)		(16	)		-			-			(21,657	)
Debt modification and extinguishment costs		(7,689	)		-			-			-			(7,689	)
Intercompany interest income (expense)		20,866			(20,866	)		-			-			-
Investment income (loss) - consolidated affiliates		(138,038	)		-			-			138,038			-
Other, net		258			(22	)		-			-			236
Total other income (expense)		(146,244	)		(20,904	)		-			138,038			(29,110	)
Income (loss) from continuing operations before income taxes		(146,296	)		(4,734	)		202			138,072			(12,756	)
Income tax expense		-			3,409			-			-			3,409
Income (loss) from continuing operations		(146,296	)		(8,143	)		202			138,072			(16,165	)
Discontinued operations (net of tax):
Income from discontinued operations		-			1,600			-			(34	)		1,566
Loss related to divestiture of discontinued operations		-			(131,697	)		-			-			(131,697	)
Net income (loss)	$	(146,296	)	$	(138,240	)	$	202		$	138,038		$	(146,296	)
Comprehensive income (loss)	$	(146,296	)	$	(138,240	)	$	202		$	138,038		$	(146,296	)

	Media General Corporate			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Media General Consolidated
Revenues	$	7,891		$	72,004		$	-		$	(8,173	)	$	71,722
Operating costs:
Employee compensation		3,466			27,043			(289	)		-			30,220
Production		-			17,969			-			(190	)		17,779
Selling, general and administrative		1,902			16,388			-			(8,027	)		10,263
Depreciation and amortization		659			6,620			-			-			7,279
Total operating costs		6,027			68,020			(289	)		(8,217	)		65,541
Operating income		1,864			3,984			289			44			6,181
Other income (expense):
Interest expense		(17,180	)		(10	)		-			-			(17,190	)
Debt modification and extinguishment costs		-			-			-			-			-
Intercompany interest income (expense)		17,210			(17,210	)		-			-			-
Investment income (loss) - consolidated affiliates		(18,502	)		-			-			18,502			-
Other, net		228			(1	)		-			-			227
Total other income (expense)		(18,244	)		(17,221	)		-			18,502			(16,963	)
Income (loss) from continuing operations before income taxes		(16,380	)		(13,237	)		289			18,546			(10,782	)
Income tax expense (benefit)		(998	)		3,556			-			-			2,558
Income (loss) from continuing operations		(15,382	)		(16,793	)		289			18,546			(13,340	)
Discontinued operations (net of tax):
Loss from discontinued operations (net of taxes)		-			(1,998	)		-			(44	)		(2,042	)
Loss related to divestiture of discontinued operations		-			-			-			-			-
Net income (loss)	$	(15,382	)	$	(18,791	)	$	289		$	18,502		$	(15,382	)
Comprehensive income (loss)	$	(13,822	)	$	(18,791	)	$	289		$	18,502		$	(13,822	)

	Media General Corporate			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Media General Consolidated
Revenues	$	15,821		$	159,695		$	-		$	(16,285	)	$	159,231
Operating costs:
Employee compensation		14,846			54,375			(35	)		-			69,186
Production		-			37,484			-			(473	)		37,011
Selling, general and administrative		2,846			32,216			-			(15,873	)		19,189
Depreciation and amortization		1,498			11,927			-			-			13,425
Total operating costs		19,190			136,002			(35	)		(16,346	)		138,811
Operating income (loss)		(3,369	)		23,693			35			61			20,420
Other income (expense):
Interest expense		(36,777	)		(31	)		-			-			(36,808	)
Debt modification and extinguishment costs		(18,097	)		-			-			-			(18,097	)
Intercompany interest income (expense)		35,571			(35,571	)		-			-			-
Investment income (loss) - consolidated affiliates		(158,515	)		-			-			158,515			-
Other, net		467			(46	)		-			-			421
Total other income (expense)		(177,351	)		(35,648	)		-			158,515			(54,484	)
Income (loss) from continuing operations before income taxes		(180,720	)		(11,955	)		35			158,576			(34,064	)
Income tax expense		-			6,817			-			-			6,817
Income (loss) from continuing operations		(180,720	)		(18,772	)		35			158,576			(40,881	)
Discontinued operations (net of tax):
Loss from discontinued operations		-			(8,081	)		-			(61	)		(8,142	)
Loss related to divestiture of discontinued operations		-			(131,697	)		-			-			(131,697	)
Net income (loss)	$	(180,720	)	$	(158,550	)	$	35		$	158,515		$	(180,720	)
Comprehensive income (loss)	$	(180,720	)	$	(158,550	)	$	35		$	158,515		$	(180,720	)

	Media General Corporate			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Media General Consolidated
Revenues	$	17,219		$	139,427		$	-		$	(17,636	)	$	139,010
Operating costs:
Employee compensation		12,300			54,617			(179	)		-			66,738
Production		-			35,204			-			(322	)		34,882
Selling, general and administrative		3,628			32,866			-			(17,390	)		19,104
Depreciation and amortization		1,279			13,218			-			-			14,497
Total operating costs		17,207			135,905			(179	)		(17,712	)		135,221
Operating income		12			3,522			179			76			3,789
Other income (expense):
Interest expense		(33,733	)		(20	)		-			-			(33,753	)
Debt modification and extinguishment costs		-			-			-			-			-
Intercompany interest income (expense)		34,364			(34,364	)		-			-			-
Investment income (loss) - consolidated affiliates		(44,253	)		-			-			44,253			-
Other, net		469			-			-			-			469
Total other income (expense)		(43,153	)		(34,384	)		-			44,253			(33,284	)
Income (loss) from continuing operations before income taxes		(43,141	)		(30,862	)		179			44,329			(29,495	)
Income tax expense (benefit)		(1,955	)		7,109			-			-			5,154
Income (loss) from continuing operations		(41,186	)		(37,971	)		179			44,329			(34,649	)
Discontinued operations (net of tax):
Loss from discontinued operations (net of tax)		-			(6,461	)		-			(76	)		(6,537	)
Loss related to divestiture of discontinued operations		-			-			-			-			-
Net income (loss)	$	(41,186	)	$	(44,432	)	$	179		$	44,253		$	(41,186	)
Comprehensive income (loss)	$	(38,128	)	$	(44,432	)	$	179		$	44,253		$	(38,128	)

Schedule of Condensed Cash Flow Statement [Table Text Block]

	Media General Corporate			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Media General Consolidated
Cash flows from operating activities:
Net cash provided by operating activities	$	17,928		$	2,243		$	40		$	-		$	20,211
Cash flows from investing activities:
Capital expenditures		(412	)		(3,841	)		-			-			(4,253	)
Collateral deposit related to letters of credit		(5,441	)		-			-			-			(5,441	)
Net change in intercompany note receivable		(472	)		-			-			472			-
Other, net		894			942			-			-			1,836
Net cash (used) provided by investing activities		(5,431	)		(2,899	)		-			472			(7,858	)
Cash flows from financing activities:
Increase in borrowings		395,500			-			-			-			395,500
Repayment of borrowings		(387,098	)		-			-			-			(387,098	)
Net change in intercompany loan		-			472			-			(472	)		-
Debt issuance costs		(27,172	)		-			-			-			(27,172	)
Other, net		18			(8	)		(40	)		-			(30	)
Net cash (used) provided by financing activities		(18,752	)		464			(40	)		(472	)		(18,800	)
Net decrease in cash and cash equivalents		(6,255	)		(192	)		-			-			(6,447	)
Cash and cash equivalents at beginning of period		21,674			1,434			-			-			23,108
Cash and cash equivalents at end of period	$	15,419		$	1,242		$	-		$	-		$	16,661

	Media General  Corporate			Guarantor  Subsidiaries			Non-Guarantor  Subsidiaries			Eliminations			Media General Consolidated
Cash flows from operating activities:
Net cash (used) provided by operating activities	$	(7,596	)	$	4,634		$	24		$	-		$	(2,938	)
Cash flows from investing activities:
Capital expenditures		(936	)		(9,643	)		-			-			(10,579	)
Collateral deposit related to letters of credit		-			-			-			-			-
Net change in intercompany note receivable		(5,495	)		-			-			5,495			-
Other, net		53			206			-			-			259
Net cash (used) provided by investing activities		(6,378	)		(9,437	)		-			5,495			(10,320	)
Cash flows from financing activities:
Increase in borrowings		45,000			-			-			-			45,000
Repayment of borrowings		(50,000	)		-			-			-			(50,000	)
Net change in intercompany loan		-			5,495			-			(5,495	)		-
Debt issuance costs		-			-			-			-			-
Other, net		21			-			(24	)		-			(3	)
Net cash (used) provided by financing activities		(4,979	)		5,495			(24	)		(5,495	)		(5,003	)
Net (decrease) increase in cash and cash equivalents		(18,953	)		692			-			-			(18,261	)
Cash and cash equivalents at beginning of period		30,893			967			-			-			31,860
Cash and cash equivalents at end of period	$	11,940		$	1,659		$	-		$	-		$	13,599