Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED BALANCE SHEETS

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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2015
Dec. 31, 2014
Current assets:    
Cash and cash equivalents $ 192 $ 33
Trade accounts receivable (net of allowances of $12,727 in 2014 and $12,678 in 2015) 34,842 34,781
Other receivables 1,558 3,546
Inventories (net of reserves of $1,227 in 2014 and $1,499 in 2015) 858 572
Prepaid expenses 6,771 $ 5,580
Income tax receivable 17  
Deferred income taxes 8,153 $ 8,153
Assets held for sale 1,700 1,700
Total current assets 54,091 54,365
Notes receivable (net of allowances of $539 in 2014 and $476 in 2015) $ 173 228
Fair value of interest rate swap   475
Property and equipment (net of accumulated depreciation of $155,495 in 2014 and $158,949 in 2015) $ 101,843 99,227
Broadcast licenses 387,367 385,726
Goodwill 24,816 24,684
Other indefinite-lived intangible assets 833 833
Amortizable intangible assets (net of accumulated amortization of $34,130 in 2014 and $36,774 in 2015) 11,343 12,395
Deferred financing costs 2,826 3,166
Other assets 2,699 2,060
Total assets 585,991 583,159
Current liabilities:    
Accounts payable 4,587 2,964
Accrued expenses 11,920 12,704
Accrued compensation and related expenses 8,320 8,777
Accrued interest 49 48
Deferred revenue $ 12,695 13,205
Income tax payable   154
Current portion of long-term debt and capital lease obligations $ 5,327 1,898
Total current liabilities 42,898 39,750
Long-term debt and capital lease obligations, less current portion 272,912 $ 275,607
Fair value of interest rate swap 501  
Deferred income taxes 51,306 $ 49,109
Deferred revenue 11,851 10,576
Other liabilities 1,115 4,123
Total liabilities $ 380,583 $ 379,165
Commitments and contingencies (Note 16)    
Stockholders' equity:    
Additional paid-in capital $ 241,389 $ 240,493
Accumulated deficit (2,253) (2,770)
Treasury stock, at cost (2,317,650 shares at December 31, 2014 and June 30, 2015) (34,006) (34,006)
Total stockholders' equity 205,408 203,994
Total liabilities and stockholders' equity 585,991 583,159
Class A Common Stock [Member]    
Stockholders' equity:    
Common stock 222 221
Class B Common Stock [Member]    
Stockholders' equity:    
Common stock $ 56 $ 56