Quarterly report pursuant to Section 13 or 15(d)

SIGNIFICANT TRANSACTIONS (Tables)

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SIGNIFICANT TRANSACTIONS (Tables)
6 Months Ended
Jun. 30, 2013
Text Block [Abstract]  
Summary of Business Acquisitions and Asset Purchases

A summary of our business acquisitions and asset purchases for the six months ended June 30, 2013, none of which were material to our condensed consolidated financial position as of the respective date of acquisition, is as follows:

 

Acquisition Date

  

Description

   Total Cost  
          (Dollars in thousands)  

February 15, 2013

   WTOH-FM, Columbus, Ohio    $ 4,000   

February 5, 2013

   WGTK-FM, Greenville, South Carolina      5,427   
     

 

 

 
      $ 9,427   
     

 

 

 
Total Acquisition Consideration Allocated

 The total acquisition consideration was allocated to the net assets acquired as follows:

 

     Net Broadcast
Assets Acquired
 
     (Dollars in thousands)  

Asset

  

Property and equipment

   $ 1,252   

Broadcast licenses

     7,429   

Goodwill

     37   

Other

     709   
  

 

 

 
   $ 9,427   
  

 

 

 
Loss from Discontinued Operations

The following table sets forth the components of the loss from discontinued operations:

 

     Three Months Ended June 30,     Six Months Ended June 30,  
     2012     2013     2012     2013  
     (Dollars in thousands)  

Net revenues

   $ 13     $ 11      $ 11     $ 11   

Operating expenses

     (34 )     (19     (102 )     (35
  

 

 

   

 

 

   

 

 

   

 

 

 

Operating income (loss)

   $ (21 )   $ (8   $ (91 )   $ (24

Provision for (benefit from) income taxes

     (8 )     (4     (36 )     (9
  

 

 

   

 

 

   

 

 

   

 

 

 

Income (loss) from discontinued operations, net of tax

   $ (13 )   $ (4   $ (55 )   $ (15