Note 11. Guarantor Financial Information (Tables)

9 Months Ended

Sep. 23, 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	$	27,765		$	685		$	-		$	-		$	28,450
Accounts receivable - net		-			61,595			-			-			61,595
Other		9,674			16,451			-			-			26,125
Assets of discontinued operations		-			10,552			-			-			10,552
Total current assets		37,439			89,283			-			-			126,722
Investment in and advances to subsidiaries		19,266			1,345,179			-			(1,364,445	)		-
Intercompany note receivable		563,359			-			-			(563,359	)		-
Other assets		30,908			6,854			193			-			37,955
Property, plant and equipment - net		21,750			139,695			-			-			161,445
FCC licenses and other intangibles - net		-			200,695			-			-			200,695
Excess cost over fair value of net identifiable assets of acquired businesses		-			247,149			-			-			247,149
TOTAL ASSETS	$	672,722		$	2,028,855		$	193		$	(1,927,804	)	$	773,966
LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)
Current liabilities:
Accounts payable	$	9,263		$	5,490		$	-		$	-		$	14,753
Accrued expenses and other liabilities		38,698			28,267			-			-			66,965
Liabilities of discontinued operations		-			9,535			-			-			9,535
Total current liabilities		47,961			43,292			-			-			91,253
Long-term debt		551,331			6			-			-			551,337
Intercompany loan		-			563,359			-			(563,359	)		-
Retirement, post-retirement and post-employment plans		213,675			-			-			-			213,675
Deferred income taxes		-			56,241			-			-			56,241
Other liabilities and deferred credits		17,883			2,634			854			-			21,371
Stockholders' equity (deficit):
Common stock		116,361			3,802			-			(3,802	)		116,361
Additional paid-in capital		46,673			1,751,635			(1,954	)		(1,751,464	)		44,890
Accumulated other comprehensive loss		(185,116	)		-			-			-			(185,116	)
Retained earnings (accumulated deficit)		(136,046	)		(392,114	)		1,293			390,821			(136,046	)
Total stockholders' equity (deficit)		(158,128	)		1,363,323			(661	)		(1,364,445	)		(159,911	)
TOTAL LIABILITIES & STOCKHOLDERS' EQUITY (DEFICIT)	$	672,722		$	2,028,855		$	193		$	(1,927,804	)	$	773,966

	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		-			58,587			-			-			58,587
Other		3,698			13,726			-			-			17,424
Assets of discontinued operations		-			333,329			-			-			333,329
Total current assets		25,372			407,076			-			-			432,448
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			8,378			205			-			28,277
Property, plant and equipment - net		25,813			149,463			-			-			175,276
FCC licenses and other intangibles - net		-			202,891			-			-			202,891
Excess of cost over fair value of net identifiable assets of acquired businesses		-			247,149			-			-			247,149
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		$	5,143		$	-		$	(6	)	$	16,527
Accrued expenses and other liabilities		33,430			13,042			-			-			46,472
Liabilities of discontinued operations		-			38,716			-			-			38,716
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
Station revenue (less agency commissions)	$	7,622		$	93,789		$	-		$	(7,659	)	$	93,752
Operating costs:
Station production expenses		-			31,459			-			(1	)		31,458
Station selling, general, and administrative expenses		-			29,126			-			(7,621	)		21,505
Corporate and other expenses		11,662			285			146			-			12,093
Depreciation and software amortization		564			4,969			-			-			5,533
Amortization of intangible assets		-			442			-			-			442
(Gain) loss on disposal of assets, net		(120	)		338			-			-			218
Total operating costs		12,106			66,619			146			(7,622	)		71,249
Operating income (loss)		(4,484	)		27,170			(146	)		(37	)		22,503
Other income (expense):
Interest expense		(20,203	)		(17	)		-			-			(20,220	)
Debt modification and extinguishment costs		(17,318	)		-			-			-			(17,318	)
Intercompany interest income (expense)		21,699			(21,699	)		-			-			-
Investment income (loss) - consolidated affiliates		(10,057	)		-			-			10,057			-
Other, net		30			10			-			-			40
Total other income (expense)		(25,849	)		(21,706	)		-			10,057			(37,498	)
Income (loss) from continuing operations before income taxes		(30,333	)		5,464			(146	)		10,020			(14,995	)
Income tax expense		-			3,406			-			-			3,406
Income (loss) from continuing operations		(30,333	)		2,058			(146	)		10,020			(18,401	)
Discontinued operations (net of tax):
Income (loss) from discontinued operations		-			(1,075	)		-			37			(1,038	)
Loss related to divestiture of discontinued operations		-			(10,894	)		-			-			(10,894	)
Net income (loss)	$	(30,333	)	$	(9,911	)	$	(146	)	$	10,057		$	(30,333	)
Comprehensive income (loss)	$	(30,333	)	$	(9,911	)	$	(146	)	$	10,057		$	(30,333	)

	Media General Corporate			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Media General Consolidated
Station revenue (less agency commissions)	$	5,879		$	66,324		$	-		$	(6,127	)	$	66,076
Operating costs:
Station production expenses		-			27,879			-			(153	)		27,726
Station selling, general, and administrative expenses		-			25,435			-			(5,938	)		19,497
Corporate and other expenses		6,802			536			(256	)		-			7,082
Depreciation and software amortization		711			5,100			-			-			5,811
Amortization of intangible assets		-			1,314			-			-			1,314
(Gain) loss on disposal of assets, net		(115	)		(22	)		-			-			(137	)
Total operating costs		7,398			60,242			(256	)		(6,091	)		61,293
Operating income (loss)		(1,519	)		6,082			256			(36	)		4,783
Other income (expense):
Interest expense		(16,022	)		(12	)		-			-			(16,034	)
Intercompany interest income (expense)		17,405			(17,405	)		-			-			-
Investment income (loss) - consolidated affiliates		(32,691	)		-			-			32,691			-
Other, net		287			(68	)		-			-			219
Total other income (expense)		(31,021	)		(17,485	)		-			32,691			(15,815	)
Income (loss) from continuing operations before income taxes		(32,540	)		(11,403	)		256			32,655			(11,032	)
Income tax expense (benefit)		(2,708	)		3,555			-			-			847
Income (loss) from continuing operations		(29,832	)		(14,958	)		256			32,655			(11,879	)
Discontinued operations (net of tax):
Income (loss) from discontinued operations		-			(17,989	)		-			36			(17,953	)
Net income (loss)	$	(29,832	)	$	(32,947	)	$	256		$	32,691		$	(29,832	)
Comprehensive income (loss)	$	(30,662	)	$	(32,947	)	$	256		$	32,691		$	(30,662	)

	Media General Corporate			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Media General Consolidated
Station revenue (less agency commissions)	$	23,443		$	251,559		$	-		$	(23,938	)	$	251,064
Operating costs:
Station production expenses		-			92,832			-			(473	)		92,359
Station selling, general, and administrative expenses		-			86,959			-			(23,486	)		63,473
Corporate and other expenses		29,847			1,646			111			-			31,604
Depreciation and software amortization		2,062			15,062			-			-			17,124
Amorization of intangible assets		-			2,196			-			-			2,196
(Gain) loss on disposal of assets, net		(613	)		581			-			-			(32	)
Total operating costs		31,296			199,276			111			(23,959	)		206,724
Operating income (loss)		(7,853	)		52,283			(111	)		21			44,340
Other income (expense):
Interest expense		(56,980	)		(48	)		-			-			(57,028	)
Debt modification and extinguishment costs		(35,415	)		-			-			-			(35,415	)
Intercompany interest income (expense)		57,270			(57,270	)		-			-			-
Investment income (loss) - consolidated affiliates		(168,572	)		-			-			168,572			-
Other, net		497			(45	)		-			-			452
Total other income (expense)		(203,200	)		(57,363	)		-			168,572			(91,991	)
Income (loss) from continuing operations before income taxes		(211,053	)		(5,080	)		(111	)		168,593			(47,651	)
Income tax expense		-			10,223			-			-			10,223
Income (loss) from continuing operations		(211,053	)		(15,303	)		(111	)		168,593			(57,874	)
Discontinued operations (net of tax):
Income (loss) from discontinued operations		-			(10,567	)		-			(21	)		(10,588	)
Loss related to divestiture of discontinued operations		-			(142,591	)		-			-			(142,591	)
Net income (loss)	$	(211,053	)	$	(168,461	)	$	(111	)	$	168,572		$	(211,053	)
Comprehensive income (loss)	$	(211,053	)	$	(168,461	)	$	(111	)	$	168,572		$	(211,053	)

	Media General Corporate			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Media General Consolidated
Station revenue (less agency commissions)	$	23,098		$	203,314		$	-		$	(23,682	)	$	202,730
Operating costs:
Station production expenses		-			86,578			-			(475	)		86,103
Station selling, general, and administrative expenses		-			84,101			-			(23,247	)		60,854
Corporate and other expenses		22,904			1,601			(435	)		-			24,070
Depreciation and software amortization		1,990			15,409			-			-			17,399
Amortization of intangible assets		-			3,940			-			-			3,940
(Gain) loss on disposal of assets, net		(289	)		525			-			-			236
Total operating costs		24,605			192,154			(435	)		(23,722	)		192,602
Operating income (loss)		(1,507	)		11,160			435			40			10,128
Other income (expense):
Interest expense		(49,755	)		(32	)		-			-			(49,787	)
Intercompany interest income (expense)		51,769			(51,769	)		-			-			-
Investment income (loss) - consolidated affiliates		(76,944	)		-			-			76,944			-
Other, net		756			(68	)		-			-			688
Total other income (expense)		(74,174	)		(51,869	)		-			76,944			(49,099	)
Income (loss) from continuing operations before income taxes		(75,681	)		(40,709	)		435			76,984			(38,971	)
Income tax expense (benefit)		(4,663	)		10,664			-			-			6,001
Income (loss) from continuing operations		(71,018	)		(51,373	)		435			76,984			(44,972	)
Loss from discontinued operations (net of tax)		-			(26,006	)		-			(40	)		(26,046	)
Net income (loss)	$	(71,018	)	$	(77,379	)	$	435		$	76,944		$	(71,018	)
Comprehensive income (loss)	$	(68,790	)	$	(77,379	)	$	435		$	76,944		$	(68,790	)

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 (used) provided by operating activities	$	(99,462	)	$	117,937		$	(40	)	$	-		$	18,435
Cash flows from investing activities:
Capital expenditures		(1,604	)		(5,659	)		-			-			(7,263	)
Collateral deposit related to letters of credit		(10,271	)		-			-			-			(10,271	)
Net change in intercompany note receivable		114,110			-			-			(114,110	)		-
Proceeds from dispositions		139,902			-			-			-			139,902
Other, net		894			1,092			-			-			1,986
Net cash (used) provided by investing activities		243,031			(4,567	)		-			(114,110	)		124,354
Cash flows from financing activities:
Increase in borrowings		395,500			-			-			-			395,500
Repayment of borrowings		(504,261	)		-			-			-			(504,261	)
Net change in intercompany loan		-			(114,110	)		-			114,110			-
Debt issuance costs		(28,772	)		-			-			-			(28,772	)
Other, net		55			(9	)		40			-			86
Net cash (used) provided by financing activities		(137,478	)		(114,119	)		40			114,110			(137,447	)
Net increase (decrease) in cash and cash equivalents		6,091			(749	)		-			-			5,342
Cash and cash equivalents at beginning of year		21,674			1,434			-			-			23,108
Cash and cash equivalents at end of period	$	27,765		$	685		$	-		$	-		$	28,450

	Media General  Corporate			Guarantor  Subsidiaries			Non-Guarantor  Subsidiaries			Eliminations			Media General Consolidated
Cash flows from operating activities:
Net cash (used) provided by operating activities	$	(5,342	)	$	(2,370	)	$	59		$	-		$	(7,653	)
Cash flows from investing activities:
Capital expenditures		(1,735	)		(13,946	)		-			-			(15,681	)
Net change in intercompany note receivable		(16,742	)		-			-			16,742			-
Other, net		74			334			-			-			408
Net cash (used) provided by investing activities		(18,403	)		(13,612	)		-			16,742			(15,273	)
Cash flows from financing activities:
Increase in borrowings		88,500			-			-			-			88,500
Repayment of borrowings		(87,286	)		-			-			-			(87,286	)
Net change in intercompany loan		-			16,742			-			(16,742	)		-
Other, net		10			-			(59	)		-			(49	)
Net cash (used) provided by financing activities		1,224			16,742			(59	)		(16,742	)		1,165
Net (decrease) increase in cash and cash equivalents		(22,521	)		760			-			-			(21,761	)
Cash and cash equivalents at beginning of year		30,893			967			-			-			31,860
Cash and cash equivalents at end of period	$	8,372		$	1,727		$	-		$	-		$	10,099