Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED BALANCE SHEETS

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CONDENSED CONSOLIDATED BALANCE SHEETS (USD $)
In Thousands, unless otherwise specified
Sep. 30, 2012
Dec. 31, 2011
Current assets:    
Cash and cash equivalents $ 195 $ 67
Restricted cash   110
Trade accounts receivable (less allowance for doubtful accounts of $9,300 in 2011 and $9,020 in 2012) 33,168 31,001
Other receivables 376 888
Prepaid expenses 3,904 3,395
Deferred income taxes 7,027 6,403
Assets held for sale 2,900  
Assets of discontinued operations 8 102
Total current assets 47,578 41,966
Notes receivable (less allowance for doubtful accounts of $100 in 2011 and $615 in 2012) less current portion 1,458 1,459
Property, plant and equipment (net of accumulated depreciation of $125,708 in 2011 and $133,631 in 2012) 100,668 111,222
Broadcast licenses 373,720 371,420
Goodwill 21,330 20,092
Other indefinite-lived intangible assets 1,961 1,961
Amortizable intangible assets (net of accumulated amortization of $22,817 in 2011 and $24,442 in 2012) 6,484 6,469
Deferred financing costs 4,379 5,489
Other assets 1,506 1,232
Total assets 559,084 561,310
Current liabilities:    
Accounts payable 2,684 4,565
Accrued expenses 5,587 5,542
Accrued compensation and related expenses 6,785 8,431
Accrued interest 6,389 1,127
Deferred revenue 8,153 7,521
Income tax payable 168 205
Subordinated debt due to related parties 15,000 9,000
Current portion of long-term debt and capital lease obligations 5,115 124
Total current liabilities 49,881 36,515
Long-term debt and capital lease obligations, less current portion 250,455 265,679
Deferred income taxes 46,660 48,077
Deferred revenue 8,087 7,962
Other liabilities 29 29
Total liabilities 355,112 358,262
Commitments and contingencies (Note 15)      
Stockholders' equity:    
Additional paid-in capital 233,034 231,972
Retained earnings 4,677 4,816
Treasury stock, at cost (2,317,650 shares at December 31, 2011 and September 30, 2012) (34,006) (34,006)
Total stockholders' equity 203,972 203,048
Total liabilities and stockholders' equity 559,084 561,310
Class A common stock
    
Stockholders' equity:    
Common stock 211 210
Class B common stock
    
Stockholders' equity:    
Common stock $ 56 $ 56