Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED BALANCE SHEETS

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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Mar. 31, 2018
Dec. 31, 2017
Current assets:    
Cash and cash equivalents $ 6 $ 3
Trade accounts receivable (net of allowances of $11,019 in 2017 and $9,866 in 2018) 30,058 32,545
Unbilled revenue 3,724 2,298
Other receivables (net of allowances of $227 in 2017 and 2018) 819 820
Inventories (net of reserves of $1,657 in 2017 and $1,599 in 2018) 808 730
Prepaid expenses 6,893 6,824
Assets held for sale 4,017 3,500
Total current assets 46,325 46,720
Land held for sale 1,000 1,000
Notes receivable (net of allowance of $759 in 2017 and $598 in 2018) 8 53
Property and equipment (net of accumulated depreciation of $164,720 in 2017 and $167,306 in 2018) 98,653 99,480
Broadcast licenses 380,693 380,914
Goodwill 26,424 26,424
Other indefinite-lived intangible assets 313 313
Amortizable intangible assets (net of accumulated amortization of $47,179 in 2017 and $48,657 in 2018) 11,626 13,104
Deferred financing costs 463 550
Deferred income taxes 1,070 1,070
Other assets 3,597 3,191
Total assets 570,172 572,819
Current liabilities:    
Accounts payable 1,677 1,584
Accrued expenses 10,616 9,281
Accrued compensation and related expenses 9,597 7,643
Accrued interest 5,604 1,445
Contract liabilities 12,165 12,763
Deferred rent expense 140 152
Income taxes payable 287 172
Current portion of long-term debt and capital lease obligations 105 9,109
Total current liabilities 40,191 42,149
Long-term debt and capital lease obligations, less current portion 249,776 249,579
Deferred income taxes 34,533 34,151
Deferred rent expense, long term 13,508 13,644
Contract liabilities, long-term 1,627 1,951
Other long-term liabilities 64 64
Total liabilities 339,699 341,538
Commitments and contingencies (Note 14)
Stockholders' Equity:    
Additional paid-in capital 244,699 244,634
Accumulated earnings 19,497 20,370
Treasury stock, at cost (2,317,650 shares at December 31, 2017 and March 31, 2018) (34,006) (34,006)
Total stockholders' equity 230,473 231,281
Total liabilities and stockholders' equity 570,172 572,819
Common Class A [Member]    
Stockholders' Equity:    
Common stock 227 227
Common Class B [Member]    
Stockholders' Equity:    
Common stock $ 56 $ 56