DISCONTINUED OPERATIONS

3 Months Ended

Mar. 31, 2015

DISCONTINUED OPERATIONS [Abstract]

DISCONTINUED OPERATIONS

8. DISCONTINUED OPERATIONS

Discontinued operations includes the advertising media and broadcast operations and television and film production/distribution operations discontinued in June 2012 upon the sale of most of their assets during the Bankruptcy Proceedings, and the trading card and game distribution operations.

The following are the summarized results of discontinued operations for the three months ended March 31, 2015 and 2014:

	Three Months Ended March 31,
	2015		2014
Total net revenues	$	—	$	—
Total income		9		325
Income from discontinued operations	$	9	$	325

The income from discontinued operations for the three months ended March 31, 2015 was due to the reversal of prior bad debt expense and for the three months ended March 31, 2014 was primarily the result of the reversal of liabilities upon the settlement of claims.

The major classes of assets and liabilities of the discontinued operations on the balance sheet are as follows:

	March 31, 2015		March 31, 2014
ASSETS
Accounts receivable – net	$	9	$	4
Current assets of discontinued operations	$	9	$	4
LIABILITIES
Accounts payable and accrued expenses	$	114	$	114
Current liabilities of discontinued operations	$	114	$	114

Noncontrolling interest from discontinued operations

The trading card and game distribution operations were conducted through entities that included noncontrolling interests.

As of January 1, 2009, all earnings and losses of a subsidiary are attributed to both the parent and the noncontrolling interest, even if the losses attributable to the noncontrolling interest result in a deficit noncontrolling interest balance.  Previously, any losses exceeding the noncontrolling interest’s investment in the subsidiaries were attributed to the parent.

a) TC Digital Games LLC - Noncontrolling interest of membership units in TC Digital represents the noncontrolling members’ proportionate share of the equity in the entity. Income is allocated to the membership units’ noncontrolling interest based on the ownership percentage throughout the year. As of March 31, 2015, the noncontrolling member continued to hold 45% of the equity in the entity.  There was no income or loss attributable to the noncontrolling equity interest in TC Digital that was incurred during the three months ended March 31, 2015 and 2014.

As of March 31, 2015, the loss in excess of noncontrolling interest for TC Digital absorbed by 4Kids Digital, in the aggregate, since the formation of such entity is $21,534.

b) TC Websites LLC - As of March 31, 2015, the noncontrolling member held 45% of the equity in the entity.  There was no income or loss attributable to the noncontrolling equity interest in TC Websites during the three months ended March 31, 2015 and 2014.

As of March 31, 2015, the loss in excess of noncontrolling interest for TC Websites absorbed by 4Kids Websites, in the aggregate, since the formation of such entity is $6,019.