Note 9. Guarantor Financial Information (Tables)

3 Months Ended

Mar. 31, 2013

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	$	18,534		$	853		$	-		$	-		$	19,387
Accounts receivable - net		-			55,057			-			-			55,057
Other		4,196			9,703			-			-			13,899
Total current assets		22,730			65,613			-			-			88,343
Investment in and advances to subsidiaries		11,568			1,330,144			-			(1,341,712	)		-
Intercompany note receivable		566,077			-			-			(566,077	)		-
Other assets		29,522			6,286			161			-			35,969
Property, plant and equipment - net		19,423			144,007			-			-			163,430
FCC licenses and other intangibles - net		-			199,813			-			-			199,813
Excess cost over fair value of net identifiable assets of acquired businesses		-			247,149			-			-			247,149
TOTAL ASSETS	$	649,320		$	1,993,012		$	161		$	(1,907,789	)	$	734,704
LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)
Current liabilities:
Accounts payable	$	4,792		$	4,756		$	-		$	-		$	9,548
Accrued expenses and other liabilities		23,242			17,424			-			-			40,666
Total current liabilities		28,034			22,180			-			-			50,214
Long-term debt		295,960			4			-			-			295,964
Long-term debt - related party		258,955			-			-			-			258,955
Intercompany loan		-			566,077			-			(566,077	)		-
Retirement, post-retirement and post-employment plans		240,146			-			-			-			240,146
Deferred income taxes		-			61,628			-			-			61,628
Other liabilities and deferred credits		16,475			2,206			846			-			19,527
Stockholders' equity (deficit):
Common stock		138,880			2,801			-			(2,801	)		138,880
Additional paid-in capital		24,707			1,731,097			(1,893	)		(1,730,684	)		23,227
Accumulated other comprehensive loss		(217,731	)		-			-			-			(217,731	)
Retained earnings (accumulated deficit)		(136,106	)		(392,981	)		1,208			391,773			(136,106	)
Total stockholders' equity (deficit)		(190,250	)		1,340,917			(685	)		(1,341,712	)		(191,730	)
TOTAL LIABILITIES & STOCKHOLDERS' EQUITY (DEFICIT)	$	649,320		$	1,993,012		$	161		$	(1,907,789	)	$	734,704

	Media General Corporate			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Media General Consolidated
ASSETS
Current assets:
Cash and cash equivalents	$	36,414		$	388		$	-		$	-		$	36,802
Accounts receivable - net		-			58,486			-			-			58,486
Other		6,562			11,931			-			-			18,493
Assets of discontinued operations		-			670			-			-			670
Total current assets		42,976			71,475			-			-			114,451
Investment in and advances to subsidiaries		14,281			1,346,705			-			(1,360,986	)		-
Intercompany note receivable		564,681			-			-			(564,681	)		-
Other assets		38,469			6,795			198			-			45,462
Property, plant and equipment - net		19,647			146,458			-			-			166,105
FCC licenses and other intangibles - net		-			200,254			-			-			200,254
Excess of cost over fair value of net identifiable assets of acquired businesses		-			247,149			-			-			247,149
TOTAL ASSETS	$	680,054		$	2,018,836		$	198		$	(1,925,667	)	$	773,421
LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)
Current liabilities:
Accounts payable	$	7,488		$	4,181		$	-		$	-		$	11,669
Accrued expenses and other liabilities		36,155			28,207			-			-			64,362
Liabilities of discontinued operations		-			467			-			-			467
Total current liabilities		43,643			32,855			-			-			76,498
Long-term debt		295,714			7			-			-			295,721
Long-term debt - related party		257,466												257,466
Intercompany loan		-			564,681			-			(564,681	)		-
Retirement, post-retirement and post-employment plans		242,309			-			-			-			242,309
Deferred income taxes		-			58,865			-			-			58,865
Other liabilities and deferred credits		15,567			2,442			777			-			18,786
Stockholders' equity (deficit):
Common stock		138,819			2,801			-			(2,801	)		138,819
Additional paid-in capital		24,603			1,733,641			(1,977	)		(1,733,243	)		23,024
Accumulated other comprehensive loss		(219,656	)		-			-			-			(219,656	)
Retained earnings (accumulated deficit)		(118,411	)		(376,456	)		1,398			375,058			(118,411	)
Total stockholders' equity (deficit)		(174,645	)		1,359,986			(579	)		(1,360,986	)		(176,224	)
TOTAL LIABILITIES & STOCKHOLDERS' EQUITY (DEFICIT)	$	680,054		$	2,018,836		$	198		$	(1,925,667	)	$	773,421

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)	$	5,047		$	73,939		$	-		$	(5,047	)	$	73,939
Operating costs:
Station production expenses		-			32,003			-			-			32,003
Station selling, general, and administrative expenses		-			27,594			-			(5,047	)		22,547
Corporate and other expenses		7,514			-			190			-			7,704
Depreciation and software amortization		432			5,089			-			-			5,521
Amortization of intangible assets		-			441			-			-			441
Net gain related to fixed assets		(43	)		-			-			-			(43	)
Total operating costs		7,903			65,127			190			(5,047	)		68,173
Operating income (loss)		(2,856	)		8,812			(190	)		-			5,766
Other income (expense):
Interest expense		(9,311	)		(18	)		-			-			(9,329	)
Interest expense - related party		(9,913	)		-			-			-			(9,913	)
Intercompany interest income (expense)		21,071			(21,071	)		-			-			-
Investment income (loss) - consolidated affiliates		(16,715	)		-			-			16,715			-
Other, net		29			22			-			-			51
Total other income (expense)		(14,839	)		(21,067	)		-			16,715			(19,191	)
Income (loss) from continuing operations before income taxes		(17,695	)		(12,255	)		(190	)		16,715			(13,425	)
Income tax expense		-			3,284			-			-			3,284
Income (loss) from continuing operations		(17,695	)		(15,539	)		(190	)		16,715			(16,709	)
Discontinued operations (net of tax):
Loss from discontinued operations		-			(956	)		-			-			(956	)
Loss related to divestiture of operations		-			(30	)		-			-			(30	)
Net income (loss)	$	(17,695	)	$	(16,525	)	$	(190	)	$	16,715		$	(17,695	)
Comprehensive income (loss)	$	(15,770	)	$	(16,525	)	$	(190	)	$	16,715		$	(15,770	)

	Media General Corporate			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Media General Consolidated
Station revenue (less agency commissions)	$	8,554		$	74,268		$	-		$	(8,608	)	$	74,214
Operating costs:
Station production expenses		-			30,110			-			(59	)		30,051
Station selling, general, and administrative expenses		-			29,169			-			(8,575	)		20,594
Corporate and other expenses		11,009			700			167			-			11,876
Depreciation and software amortization		933			5,017			-			-			5,950
Amortization of intangible assets		-			1,313			-			-			1,313
Net gain related to fixed assets		(71	)		-			-			-			(71	)
Total operating costs		11,871			66,309			167			(8,634	)		69,713
Operating income (loss)		(3,317	)		7,959			(167	)		26			4,501
Other income (expense):
Interest expense		(15,136	)		(15	)		-			-			(15,151	)
Debt modification costs and extinguishment costs		(10,408	)		-			-			-			(10,408	)
Intercompany interest income (expense)		14,705			(14,705	)		-			-			-
Investment income (loss) - consolidated affiliates		(20,477	)		-			-			20,477			-
Other, net		209			(27	)		-			-			182
Total other income (expense)		(31,107	)		(14,747	)		-			20,477			(25,377	)
Income (loss) from continuing operations before income taxes		(34,424	)		(6,788	)		(167	)		20,503			(20,876	)
Income tax expense		-			3,408			-			-			3,408
Income (loss) from continuing operations		(34,424	)		(10,196	)		(167	)		20,503			(24,284	)
Discontinued operations (net of tax):
Loss from discontinued operations		-			(10,114	)		-			(26	)		(10,140	)
Net income (loss)	$	(34,424	)	$	(20,310	)	$	(167	)	$	20,477		$	(34,424	)
Comprehensive income (loss)	$	(34,424	)	$	(20,310	)	$	(167	)	$	20,477		$	(34,424	)

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	$	(17,528	)	$	2,121		$	(83	)	$	-		$	(15,490	)
Cash flows from investing activities:
Capital expenditures		(204	)		(3,086	)		-			-			(3,290	)
Refund of collateral deposit related to letters of collateral		1,366			-			-			-			1,366
Net change in intercompany note receivable		(1,396	)		-			-			1,396			-
Other, net		(248	)		34			-			-			(214	)
Net cash (used) provided by investing activities		(482	)		(3,052	)		-			1,396			(2,138	)
Cash flows from financing activities:
Net change in intercompany loan		-			1,396			-			(1,396	)		-
Other, net		130			-			83			-			213
Net cash (used) provided by financing activities		130			1,396			83			(1,396	)		213
Net (decrease) increase in cash and cash equivalents		(17,880	)		465			-			-			(17,415	)
Cash and cash equivalents at beginning of year		36,414			388			-			-			36,802
Cash and cash equivalents at end of period	$	18,534		$	853		$	-		$	-		$	19,387

	Media General  Corporate			Guarantor  Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Media General Consolidated
Cash flows from operating activities:
Net cash (used) provided by operating activities	$	(13,930	)	$	18,322		$	13		$	-		$	4,405
Cash flows from investing activities:
Capital expenditures		(382	)		(1,134	)		-			-			(1,516	)
Net change in intercompany note receivable		17,256			-			-			(17,256	)		-
Other, net		-			78			-			-			78
Net cash (used) provided by investing activities		16,874			(1,056	)		-			(17,256	)		(1,438	)
Cash flows from financing activities:
Increase in borrowings		8,000			-			-			-			8,000
Repayment of borrowings		(8,000	)		-			-			-			(8,000	)
Net change in intercompany loan		-			(17,256	)		-			17,256			-
Debt issuance costs		(13,902	)		-			-			-			(13,902	)
Other, net		19			(2	)		(13	)		-			4
Net cash (used) provided by financing activities		(13,883	)		(17,258	)		(13	)		17,256			(13,898	)
Net (decrease) increase in cash and cash equivalents		(10,939	)		8			-			-			(10,931	)
Cash and cash equivalents at beginning of year		21,674			1,434			-			-			23,108
Cash and cash equivalents at end of period	$	10,735		$	1,442		$	-		$	-		$	12,177