Summary of Significant Accounting Policies (Tables)

6 Months Ended

Aug. 31, 2013

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Calculation of Basic and Diluted Net (loss) Income Per Share from Continuing Operations

The following table sets forth the calculation of basic and diluted net (loss) income per share from continuing operations:

	Six Months Ended
	August 31, 2012							August 31, 2013
	Net Loss			Shares	Net Loss Per Share			Net Income			Shares	Net Income Per Share
	(amounts in 000’s, except per share data)
Basic net (loss) income per common share:
Net (loss) income available to common shareholders from continuing operations	$	(3,367	)	38,819	$	(0.09	)	$	6,372		41,313	$	0.15
Impact of equity awards	—			—	—			—			2,770	—
Impact of conversion of preferred stock into common stock	—			—	—			(325		)	2,278	—
Diluted net (loss) income per common share:
Net (loss) income available to common shareholders from continuing operations	$	(3,367	)	38,819	$	(0.09	)	$	6,047		46,361	$	0.13

	Three Months Ended
	August 31, 2012							August 31, 2013
	Net Loss			Shares	Net Loss Per Share			Net Income			Shares	Net Income Per Share
	(amounts in 000’s, except per share data)
Basic net (loss) income per common share:
Net (loss) income available to common shareholders from continuing operations	$	(695	)	38,859	$	(0.02	)	$	2,647		41,451	$	0.06
Impact of equity awards	—			—	—			—			3,217	—
Impact of conversion of preferred stock into common stock	—			—	—			(76		)	2,269	—
Diluted net (loss) income per common share:
Net (loss) income available to common shareholders from continuing operations	$	(695	)	38,859	$	(0.02	)	$	2,571		46,937	$	0.05

Shares Excluded from Calculation as Effect of Conversion into Shares of Common Stock would be Antidilutive

Shares excluded from the calculation as the effect of their conversion into shares of our common stock would be antidilutive were as follows:

	Three Months Ended August 31,		Six Months Ended August 31,
	2012	2013	2012	2013
	(shares in 000’s )
6.25% Series A convertible preferred stock	2,288	—	2,288	—
Stock options and restricted stock awards	7,274	1,929	6,898	1,980
Antidilutive common share equivalents	9,562	1,929	9,186	1,980

Summary of Income from Discontinued Operations

A summary of the income from discontinued operations is presented below:

	Three Months Ended August 31,					Six Months Ended August 31,
	2012			2013		2012			2013
Income (loss) from operations:
KXOS-FM (Radio)	$	32,675		$	—	$	32,534		$	—
Emmis Interactive Inc. (Radio)	(1,466		)	—		(2,193		)	—
Slovakia Radio Network (Radio)	756			—		763			—
Bulgaria Radio Network (Radio)	(146		)	—		(453		)	—
Sampler Publications (Publishing)	(202		)	—		(86		)	—
Total	31,617			—		30,565			—
Benefit from income taxes	(7,159		)	—		(5,852		)	—
Total income from operations, net of tax	$	38,776		$	—	$	36,417		$	—

Summary of Assets and Liabilities of Discontinued Operations

Summary of Assets and Liabilities of Discontinued Operations:

	As of February 28, 2013		As of  August 31, 2013
Current assets:
Cash and cash equivalents	$	579	$	465
Accounts receivable, net	128		—
Prepaid expenses	17		—
Other	38		—
Total current assets	$	762	$	465
Current liabilities:
Accounts payable and accrued expenses	$	2,169	$	90
Total current liabilities	$	2,169	$	90

KXOS-FM (Radio)

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Operating Results of Discontinued Operations

The operations of KXOS-FM had historically been included in the radio segment. The following table summarizes certain operating results of KXOS-FM for all periods presented:

	Three Months Ended August 31,				Six Months Ended August 31,
	2012		2013		2012		2013
Net revenues	$	1,581	$	—	$	3,331	$	—
Station operating expenses, excluding depreciation and amortization expense	7		—		27		—
Depreciation and amortization expense	65		—		169		—
Interest expense	1,591		—		3,358		—
Gain on sale of station	32,757		—		32,757		—
Benefit from income taxes	7,572		—		6,476		—

Emmis Interactive Inc. (Radio)

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Operating Results of Discontinued Operations

The operations of Emmis Interactive Inc. had historically been included in the radio segment. The following table summarizes certain operating results of Emmis Interactive Inc. for all periods presented:

	Three Months Ended August 31,				Six Months Ended August 31,
	2012		2013		2012		2013
Net revenues	$	1,144	$	—	$	2,383	$	—
Station operating expenses, excluding depreciation and amortization expense	1,754		—		3,716		—
Depreciation and amortization	120		—		257		—
Impairment loss	737		—		737		—
Other income	1		—		134		—

Sampler Publications

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Operating Results of Discontinued Operations

The operations of the Sampler Publications had historically been included in the publishing segment. The following table summarizes certain operating results of the Sampler Publications for all periods presented:

	Three Months Ended August 31,				Six Months Ended August 31,
	2012		2013		2012		2013
Net revenues	$	1,620	$	—	$	3,939	$	—
Station operating expenses, excluding depreciation and amortization expense	1,612		—		3,604		—
Depreciation and amortization	22		—		44		—
Interest expense	188		—		377		—
Provision for income taxes	130		—		259		—

Slovakia Radio Network (Radio)

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Operating Results of Discontinued Operations

The operations of our Slovakian radio network had historically been included in the radio segment. The following table summarizes certain operating results of our Slovakian radio network for all periods presented:

	Three Months Ended August 31,					Six Months Ended August 31,
	2012			2013		2012		2013
Net revenues	$	3,172		$	—	$	5,449	$	—
Station operating expenses, excluding depreciation and amortization expense	1,863			—		3,528		—
Depreciation and amortization	174			—		354		—
Interest expense	399			—		799		—
Other (income) expense, net	(20		)	—		5		—
Provision for income taxes	283			—		365		—

Bulgaria Radio Network (Radio)

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Operating Results of Discontinued Operations

The operations of our Bulgarian radio network had historically been included in the radio segment. The following table summarizes certain operating results of our Bulgarian radio network for all periods presented:

	Three Months Ended August 31,				Six Months Ended August 31,
	2012		2013		2012		2013
Net revenues	$	324	$	—	$	558	$	—
Station operating expenses, excluding depreciation and amortization expense	442		—		871		—
Depreciation and amortization	27		—		137		—
Other expense, net	1		—		3		—