Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)
 3 Months Ended 6 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Jun. 30, 2013
Jun. 30, 2012
Income Statement [Abstract]        
Net broadcast revenue $ 47,025,000 $ 46,372,000 $ 90,272,000 $ 90,329,000
Net Internet revenue 9,906,000 8,035,000 19,622,000 15,469,000
Net publishing revenue 3,205,000 3,219,000 5,870,000 6,112,000
Total revenue 60,136,000 57,626,000 115,764,000 111,910,000
Operating expenses:        
Broadcast operating expenses exclusive of depreciation and amortization shown below (including $342 and $348 for the three months ended June 30, 2012 and 2013, respectively, and $674 and $690 for the six months ended June 30, 2012 and 2013, respectively, paid to related parties) 30,844,000 30,519,000 60,411,000 59,661,000
Internet operating expenses exclusive of depreciation and amortization shown below 6,887,000 6,109,000 13,728,000 12,033,000
Publishing operating expenses exclusive of depreciation and amortization shown below 3,452,000 3,000,000 6,475,000 5,971,000
Corporate expenses exclusive of depreciation and amortization shown below (including $148 and $25 for the three months ended June 30, 2012 and 2013, and $200 and $160 for the six months ended June 30, 2012 and 2013, respectively, paid to related parties) 5,092,000 4,804,000 10,888,000 9,671,000
Depreciation 3,102,000 3,037,000 6,224,000 6,067,000
Amortization 688,000 542,000 1,381,000 1,131,000
Impairment of indefinite-lived long-term assets other than goodwill 345,000   345,000  
Impairment of goodwill 438,000   438,000  
Impairment of long-lived assets   5,608,000   5,608,000
(Gain) loss on disposal of assets 1,000 145,000 5,000 (24,000)
Total operating expenses 50,849,000 53,764,000 99,895,000 100,118,000
Operating income from continuing operations 9,287,000 3,862,000 15,869,000 11,792,000
Other income (expense):        
Interest income 15,000 28,000 36,000 59,000
Interest expense including $39 and $0 for the three months ended June 30, 2012 and 2013, and $114 and $154 for the six months ended June 30, 2012 and 2013, respectively, paid to related parties. (3,719,000) (6,264,000) (9,442,000) (12,660,000)
Change in fair value of interest rate swaps 4,007,000   3,578,000  
Loss on early retirement of long-term debt (55,000) (893,000) (27,776,000) (893,000)
Other income (expense), net 5,000 4,000 11,000 11,000
Income (loss) from continuing operations before income taxes 9,540,000 (3,263,000) (17,724,000) (1,691,000)
Provision for (benefit from) income taxes 4,335,000 (1,484,000) (4,347,000) (797,000)
Income (loss) from continuing operations 5,205,000 (1,779,000) (13,377,000) (894,000)
Income (loss) from discontinued operations (4,000) (13,000) (15,000) (55,000)
Net income (loss) $ 5,201,000 $ (1,792,000) $ (13,392,000) $ (949,000)
Basic earnings per share data:        
Earnings (loss) per share from continuing operations $ 0.20 $ (0.07) $ (0.54) $ (0.04)
Earnings (loss) per share from discontinued operations            
Basic earnings (loss) per share $ 0.20 $ (0.07) $ (0.54) $ (0.04)
Diluted earnings per share data:        
Earnings (loss) per share from continuing operations $ 0.20 $ (0.07) $ (0.54) $ (0.04)
Earnings (loss) per share from discontinued operations            
Diluted earnings (loss) per share $ 0.20 $ (0.07) $ (0.54) $ (0.04)
Dividends per share $ 0.05 $ 0.04 $ 0.10 $ 0.07
Basic weighted average shares outstanding 24,737,131 24,356,298 24,684,781 24,460,623
Diluted weighted average shares outstanding 25,624,530 24,356,298 24,684,781 24,460,623