Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED BALANCE SHEETS

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CONDENSED CONSOLIDATED BALANCE SHEETS (USD $)
Jun. 30, 2013
Dec. 31, 2012
Current assets:    
Cash and cash equivalents $ 73,000 $ 380,000
Trade accounts receivable (less allowance for doubtful accounts of $8,926 in 2012 and $9,578 in 2013) 37,133,000 35,009,000
Other receivables 1,805,000 609,000
Prepaid expenses 3,973,000 3,277,000
Deferred income taxes 6,248,000 6,248,000
Assets held for sale 1,700,000 1,964,000
Assets of discontinued operations 8,000 8,000
Total current assets 50,940,000 47,495,000
Property, plant and equipment (net of accumulated depreciation of $135,823 in 2012 and $141,746 in 2013) 99,369,000 99,467,000
Broadcast licenses 381,586,000 373,720,000
Goodwill 21,981,000 22,383,000
Other indefinite-lived intangible assets 1,528,000 1,873,000
Amortizable intangible assets (net of accumulated amortization of $25,121 in 2012 and $26,501 in 2013) 8,109,000 8,753,000
Fair value of interest rate swaps 3,578,000  
Deferred financing costs 4,442,000 4,002,000
Notes receivable (net of allowance of $702 in 2012 and $579 in 2013) 258,000 1,662,000
Other assets 1,799,000 2,007,000
Total assets 573,590,000 561,362,000
Current liabilities:    
Accounts payable 3,424,000 4,440,000
Accrued expenses 6,815,000 6,627,000
Accrued compensation and related expenses 8,028,000 8,668,000
Accrued interest 75,000 1,110,000
Deferred revenue 12,065,000 9,531,000
Income tax payable 38,000 175,000
Subordinated debt due related parties   15,000,000
Current portion of long-term debt and capital lease obligations 5,118,000 5,108,000
Total current liabilities 35,563,000 50,659,000
Long-term debt and capital lease obligations, less current portion 292,762,000 248,872,000
Deferred income taxes 43,015,000 47,593,000
Deferred revenue 10,160,000 8,140,000
Other liabilities 20,000 29,000
Total liabilities 381,520,000 355,293,000
Commitments and contingencies (Note 15)      
Stockholders' equity:    
Additional paid-in capital 235,838,000 233,974,000
Retained earnings (accumulated deficit) (10,034,000) 5,832,000
Treasury stock, at cost (2,317,650 shares at December 31, 2012 and June 30, 2013) (34,006,000) (34,006,000)
Total stockholders' equity 192,070,000 206,069,000
Total liabilities and stockholders' equity 573,590,000 561,362,000
Class A Common Stock
    
Stockholders' equity:    
Common stock 216,000 213,000
Class B common stock
    
Stockholders' equity:    
Common stock $ 56,000 $ 56,000