Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED BALANCE SHEETS

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CONSOLIDATED BALANCE SHEETS (USD $)
In Thousands, unless otherwise specified
Dec. 31, 2013
Dec. 31, 2012
Current assets:    
Cash and cash equivalents $ 65 $ 380
Trade accounts receivable (net of allowance for doubtful accounts of $8,926 in 2012 and $10,809 in 2013) 37,627 35,009
Other receivables 720 609
Prepaid expenses 4,049 4,096
Deferred income taxes 6,876 6,248
Assets held for sale 1,700 1,964
Assets of discontinued operations 8 8
Total current assets 51,045 48,314
Notes receivable (net of allowance of $702 in 2012 and $548 in 2013) 1,866 1,662
Fair value of interest rate swap 3,177  
Property, plant and equipment (net of accumulated depreciation of $135,823 in 2012 and $145,215 in 2013) 98,928 99,467
Broadcast licenses 381,836 373,720
Goodwill 22,374 22,383
Other indefinite-lived intangible assets 868 1,873
Amortizable intangible assets (net of accumulated amortization of $25,121 in 2012 and $27,933 in 2013) 8,793 8,753
Deferred financing costs 4,130 4,002
Other assets 2,096 2,007
Total assets 575,113 562,181
Current liabilities:    
Accounts payable 3,960 5,259
Accrued expenses 7,888 6,627
Accrued compensation and related expenses 6,913 8,668
Accrued interest 37 1,110
Deferred revenue 9,721 9,531
Income tax payable 142 175
Terminated subordinated debt due to related parties   15,000
Current portion of long-term debt and capital lease obligations 3,121 5,108
Total current liabilities 31,782 51,478
Long-term debt and capital lease obligations, less current portion 287,672 248,872
Deferred income taxes 43,457 47,593
Deferred revenue 9,965 8,140
Other liabilities 452 29
Total liabilities 373,328 356,112
Commitments and contingencies (Note 9)      
Stockholders' Equity:    
Additional paid-in capital 237,579 233,974
Retained earnings (accumulated deficit) (2,062) 5,832
Treasury stock, at cost (2,317,650 shares at December 31, 2012 and 2013) (34,006) (34,006)
Total stockholders' equity 201,785 206,069
Total liabilities and stockholders' equity 575,113 562,181
Class A Common Stock
    
Stockholders' Equity:    
Common stock 218 213
Class B common stock
    
Stockholders' Equity:    
Common stock $ 56 $ 56