XML 54 R16.htm IDEA: XBRL DOCUMENT v2.4.1.9
Note 11 - Subsequent Events
3 Months Ended
Mar. 31, 2015
Subsequent Events [Abstract]  
Subsequent Events [Text Block]

Note 11: Subsequent Events


In April 2015, the Company acquired the remaining shares of Dedicated Media, Inc. for a purchase price of approximately $11 million. Prior to the transaction, the Company held 60% of the outstanding shares of Dedicated Media, Inc. For the three months ended March 31, 2015, Dedicated Media, Inc. was consolidated in the Company’s financial results and financial position. Dedicated Media, Inc. is a California-based company whose primary business is providing direct response marketing services to its customers.


On or about May 8, 2015, the Company expects to enter into an Amendment No. 5 to the Credit Agreement (“Amendment No. 5”), with Royal Bank of Canada, as administrative agent, and the other lenders and parties thereto. The Company’s existing senior secured credit facility will be amended to permit usage of the $100 million ‘Available Amount’ starter basket for restricted payments (including share repurchases) without regard to any leverage test, and the 5.00x total net leverage test for usage of other ‘Available Amount’ baskets will be changed to a 3.50x senior secured net leverage test.