Quarterly report pursuant to Section 13 or 15(d)

STOCK INCENTIVE PLAN (Tables)

v2.4.1.9
STOCK INCENTIVE PLAN (Tables)
 3 Months Ended
Mar. 31, 2015
STOCK INCENTIVE PLAN [Abstract]  
Schedule of Stock-Based Compensation Expense Recognized


Three Months Ended March 31,
2014   2015  
(Dollars in thousands)
Stock option compensation expense included in corporate expenses $ 405     $ 228  
Restricted stock shares compensation expense included in corporate expenses     —       1  
Stock option compensation expense included in broadcast operating expenses     125       52  
Stock option compensation expense included in digital media operating expenses     58       36  
Stock option compensation expense included in publishing operating expenses     15       14  
Total stock-based compensation expense, pre-tax   $ 603     $ 331  
Tax provision for stock-based compensation expense     (241 )     (132 )
Total stock-based compensation expense, net of tax   $ 362     $ 199  
Schedule of Weighted-Average Assumptions Used to Estimate Fair Value of Stock Options and Restricted Stock Awards using Black-Scholes Option Valuation Model
Three Months Ended March 31,  
2014     2015  
Expected volatility 86.84 %     52.37 %
Expected dividends 2.51 %     4.28 %
Expected term (in years)     7.5       3.0  
Risk-free interest rate     2.36 %     0.85 %


Schedule of Stock Option Activity


Options Shares     Weighted Average Exercise Price     Weighted Average Grant Date Fair Value     Weighted Average Remaining Contractual Term     Aggregate Intrinsic Value  
                                                                                                                                (Dollars in thousands, except weighted average exercise price and weighted average grant date fair value)
Outstanding at January 1, 2015 1,816,204     $ 4.88     $ 3.39       4.8 years     $ 5,718  
Granted 10,000       6.08       1.98                  
Exercised     (73,115 )     2.39       1.42                  
Forfeited or expired     (37,837 )     11.68       8.01                  
Outstanding at March 31, 2015     1,715,252     $ 4.84     $ 3.36       4.8 years     $ 3,102  
Exercisable at March 31, 2015     962,327     $ 5.13     $ 3.63       3.7 years     $ 1,559  
Expected to Vest     714,905     $ 4.47     $ 3.01       6.3 years     $ 1,466  


Schedule of Information Regarding Restricted Stock Activity

 

Restricted Stock Awards Shares     Weighted Average Grant Date Fair Value     Weighted Average Remaining Contractual Term     Aggregate Intrinsic Value  
(Dollars in thousands, except weighted average exercise price and weighted average grant date fair value)  
Outstanding at January 1, 2015   —     $ —          $ —  
Granted   10,000       5.83       1.0 years       62  
Vested     —       —                  
Forfeited     —       —                  
Unvested outstanding at March 31, 2015     10,000     $ 5.83       1.0 years    $   62