Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED BALANCE SHEETS

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CONDENSED CONSOLIDATED BALANCE SHEETS (USD $)
In Thousands, unless otherwise specified
Mar. 31, 2012
Dec. 31, 2011
Current assets:    
Cash and cash equivalents $ 312 $ 67
Restricted cash   110
Trade accounts receivable (less allowance for doubtful accounts of $9,300 in 2011 and $9,141 in 2012) 30,502 31,001
Other receivables 850 888
Prepaid expenses 3,603 3,395
Deferred income taxes 6,812 6,403
Assets of discontinued operations 56 102
Total current assets 42,135 41,966
Notes receivable (less allowance for doubtful accounts of $100 in 2011 and $83 in 2012) 1,481 1,459
Property, plant and equipment (net of accumulated depreciation of $125,708 in 2011 and $128,337 in 2012) 111,761 111,222
Broadcast licenses 372,181 371,420
Goodwill 20,096 20,092
Other indefinite-lived intangible assets 1,961 1,961
Amortizable intangible assets (net of accumulated amortization of $22,817 in 2011 and $23,405 in 2012) 5,881 6,469
Deferred financing costs 5,175 5,489
Other assets 1,269 1,232
Total assets 561,940 561,310
Current liabilities:    
Accounts payable 4,121 4,565
Accrued expenses 5,191 5,542
Accrued compensation and related expenses 5,939 8,431
Accrued interest 6,743 1,127
Deferred revenue 8,077 7,521
Income tax payable 212 205
Lines of credit due to related parties   9,000
Current portion of long-term debt and capital lease obligations 128 124
Total current liabilities 30,411 36,515
Long-term debt and capital lease obligations, less current portion 271,001 265,679
Deferred income taxes 49,130 48,077
Deferred revenue 7,990 7,962
Other liabilities 29 29
Total liabilities 358,561 358,262
Commitments and contingencies (Note 14)      
Stockholders' equity:    
Additional paid-in capital 232,310 231,972
Retained earnings 4,809 4,816
Treasury stock, at cost (2,317,650 shares at December 31, 2011 and March 31, 2012) (34,006) (34,006)
Total stockholders' equity 203,379 203,048
Total liabilities and stockholders' equity 561,940 561,310
Class A common Stock
    
Stockholders' equity:    
Common Stock 210 210
Class B common stock
    
Stockholders' equity:    
Common Stock $ 56 $ 56