Quarterly report pursuant to Section 13 or 15(d)

SIGNIFICANT TRANSACTIONS (Tables)

v2.4.0.6
SIGNIFICANT TRANSACTIONS (Tables)
 6 Months Ended
Jun. 30, 2012
Business Acquisitions and Asset Purchases

A summary of our business acquisitions and asset purchases for the six months ended June 30, 2012, none of which were material to our condensed consolidated financial position as of the respective date of acquisition, is as follows:

 

Acquisition Date

   

Description

   

Total Cost

  
          (Dollars in thousands)  

May 15, 2012

    Churchangel.com and rchurch.com    $ 165   

April 10, 2012

    WKDL-AM, Warrenton, Texas      30   

January 13, 2012

    KTNO-AM, Dallas, Texas      2,150   
     

 

 

  
      $ 2,345   
     

 

 

  
Total Acquisition Consideration Allocated to Net Assets Acquired

The total acquisition consideration was allocated to the net assets acquired as follows:

 

     Net Broadcast
Assets Acquired		      Net
Internet
Assets
Acquired		      Net Assets
Acquired		  
     (Dollars in thousands)  

Asset

         

Property and equipment

    $ 1,242       $ 87       $ 1,329   

Broadcast licenses

      932         —           932   

Goodwill

      6         —           6   

Customer lists and contracts

      —           46         46   

Domain and brand names

      —           32         32   
  

 

 

     

 

 

     

 

 

  
   $ 2,180       $ 165       $ 2,345   
  

 

 

     

 

 

     

 

 

  
Income (Loss) from Discontinued Operations

The following table sets forth the components of income (loss) from discontinued operations:

 

     Three Months Ended June 30,     Six Months Ended June 30,  
      2011     2012     2011     2012  
     (Dollars in thousands)  

Net revenues

    $ 692      $ 13     $ 1,312      $ 11  

Operating expenses

      (668 )      (34 )     (1,244 )      (102 )
  

 

 

    

 

 

    

 

 

    

 

 

  

Operating income (loss)

    $ 24      $ (21 )   $ 68      $ (91 )

Provision for (benefit from) income taxes

      9        8       25        36  
  

 

 

    

 

 

    

 

 

    

 

 

  

Income (loss) from discontinued operations, net of tax

    $ 15      $ 13     $ 43      $ (55 )