SEVERANCE AND EXIT COSTS

9 Months Ended

Sep. 30, 2012

7. SEVERANCE AND EXIT COSTS

In connection with the termination of the discontinued operations, the Company recorded charges for severance and termination benefits as well as other exit costs in the amount of approximately $2,467 during the nine months ended September 30, 2012. The charges were attributable to certain exit costs incurred during the period, including the elimination of sales and related support positions as well as certain other management positions.

A summary of the actions taken for severance and other exit-costs have been recorded in loss from discontinued operations and the estimated remaining liability associated with such costs are as follows:

	Total Expenses		Remaining Liability as of September 30, 2012
Severance and related costs	$	920	$	364
Disposal of capitalized film costs		1,284		—
Other professional fees		79		64
Termination of contracts and leases		184		493
Total	$	2,467	$	921

The liability, if any, for severance and exit costs will be paid in accordance with the Bankruptcy Code, the Bankruptcy Court and/or the provision of the Debtors' bankruptcy plan, as well as the provisions of contractual agreements, and payments may occur at various times throughout 2012.

- Definition

The entire disclosure for restructuring and related activities. Description of restructuring activities such as exit and disposal activities, include facts and circumstances leading to the plan, the expected plan completion date, the major types of costs associated with the plan activities, total expected costs, the accrual balance at the end of the period, and the periods over which the remaining accrual will be settled.

+ References+ Details