Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED BALANCE SHEETS

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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Mar. 31, 2016
Dec. 31, 2015
Current assets:    
Cash and cash equivalents $ 84 $ 98
Trade accounts receivable (net of allowances of $13,479 in 2015 and $11,113 in 2016) 31,845 36,029
Other receivables (net of allowances of $217 in 2015 and $373 in 2016) 2,399 1,981
Inventories (net of reserves of $1,855 in 2015 and $2,034 in 2016) 871 893
Prepaid expenses 6,140 6,285
Deferred income taxes 9,813 9,813
Assets held for sale 1,700 1,700
Total current assets 52,852 56,799
Notes receivable (net of allowances of $528 in 2015 and $490 in 2016) 130 173
Property and equipment (net of accumulated depreciation of $162,382 in 2015 and $160,963 in 2016) 105,229 105,483
Broadcast licenses 393,074 393,031
Goodwill 24,784 24,563
Other indefinite-lived intangible assets 833 833
Amortizable intangible assets (net of accumulated amortization of $39,454 in 2015 and $40,597 in 2016) 13,760 11,481
Deferred financing costs 133 151
Other assets 2,855 2,500
Total assets 593,650 595,014
Current liabilities:    
Accounts payable 4,174 5,177
Accrued expenses 11,262 11,301
Accrued compensation and related expenses 9,301 8,297
Accrued interest 52 16
Current portion of deferred revenue 11,039 13,128
Income tax payable 262 73
Current portion of long-term debt and capital lease obligations 6,108 5,662
Total current liabilities 42,198 43,654
Long-term debt and capital lease obligations less unamortized discount and debt issuance costs, net of current portion 266,959 269,093
Fair value of interest rate swap 2,556 798
Deferred income taxes 57,203 57,082
Deferred revenue less current portion 14,272 13,930
Other long-term liabilities 68 636
Total liabilities $ 383,256 $ 385,193
Commitments and contingencies (Note 17)
Stockholders’ Equity:    
Additional paid-in capital $ 242,000 $ 241,780
Accumulated earnings 2,121 1,768
Treasury stock, at cost (2,317,650 shares at December 31, 2015 and March 31, 2016) (34,006) (34,006)
Total stockholders’ equity 210,394 209,821
Total liabilities and stockholders’ equity 593,650 595,014
Common Class A [Member]    
Stockholders’ Equity:    
Common stock 223 223
Common Class B [Member]    
Stockholders’ Equity:    
Common stock $ 56 $ 56