Note 12 - Commitments, Contingencies and Other

12 Months Ended

Dec. 31, 2013

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies Disclosure [Text Block]

Note 12: Commitments, Contingencies and Other

Program License Rights

The Company had unamortized program license assets of $1.6 million and $0.8 million as of December 31, 2013, and 2012, respectively, of which $0.8 million and $0.2 million were expected to be amortized over a period greater than one year.

Unpaid program license liabilities totaled $2.5 million and $1.2 million as of December 31, 2013, and 2012, respectively, of which $1.3 million and $0.4 million were payable in greater than one year and included in other liabilities. The obligation for programming that has been contracted for, but not recorded in the accompanying balance sheet because the program rights were not currently available for airing, was approximately $60.5 million at December 31, 2013. If such programs are not produced, the Company's commitment would expire without obligation.

Lease obligations

Capital Leases

The Company is obligated under various capital leases for certain broadcast equipment, office furniture, fixtures and other equipment that range from one to fifteen years. At December 31, 2013, and 2012, the net amount of property and equipment recorded under capital leases was $1.2 million and $1.3 million, respectively. Amortization of assets held under capital leases is included with depreciation and amortization of property and equipment.

Operating Leases

The Company has certain operating leases, primarily for administrative offices, broadcast equipment and vehicles that range from one year to more than fifteen years. In many cases, the leases contain renewal options and require the Company to pay all costs such as maintenance and insurance.

Future minimum lease payments under capital and operating leases (with initial or remaining lease terms in excess of one year) as of December 31, 2013, are as follows:

(In thousands)	Capital Leases			Operating Leases
Year Ending December 31
2014	$	232		$	2,950
2015		203			2,266
2016		159			2,164
2017		119			1,965
2018		119			1,499
Thereafter		1,091			11,215
Total minimum lease payments		1,923		$	22,059
Less: amounts representing interest		(614	)
Present value of capital lease obligations	$	1,309

Rental expense under operating leases was $1.9 million for the year ended December 31, 2013, and $1.3 million for the each of the years ended December 31, 2012, and 2011.

Gray Management Agreement

The Company had a management agreement (the “Management Agreement”) with Gray Television, Inc. (“Gray”) the term of which expired on December 31, 2012. As part of the Management Agreement, if the Company was sold within the term, then Gray would initially receive a portion of the aggregate sales price above a specified threshold. The Company had estimated the fair value of this liability to be $8 million. As of December 31, 2012, the Company was not sold and the liability was reversed against other, net, on the consolidated statement of comprehensive income.

In August of 2013, the Company made a payment of $7.1 million to Gray in accordance with other provisions of the Management Agreement. This was a final payment and satisfied all remaining obligations the Company had in relation to that agreement. The Company reversed its remaining accrued liability of $1.8 million in 2013 as a reduction to corporate and other expenses.

Other assets

Other assets included assets held for sale of $4.2 million at December 31, 2013.

Accrued salaries and wages

Accrued salaries and wages consist of the following:

(In thousands)	2013		2012
Accrued bonuses	$	5,509	$	2,821
Accrued severance		1,431		-
Other accrued salaries and wages		7,243		3,325
Accrued salaries and wages	$	14,183	$	6,146

Accrued expenses and other current liabilities

Accrued expenses and other current liabilities consist of the following:

(In thousands)	2013		2012
Employee benefits	$	14,074	$	-
Network compensation accrued fees		13,213		4,131
Accrued management and consulting fees		-		9,862
Other		15,369		8,385
Other accrued expenses and other current liabilities	$	42,656	$	22,378