Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

v2.4.0.8
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Thousands, unless otherwise specified
 9 Months Ended
Sep. 30, 2014
Sep. 30, 2013
Sep. 30, 2014
Radio Broadcast
Sep. 30, 2013
Radio Broadcast
Sep. 30, 2014
Internet business
Sep. 30, 2013
Internet business
Sep. 30, 2014
Publishing business
Sep. 30, 2014
Term Loan B
Sep. 30, 2013
Term Loan B
Sep. 30, 2014
Revolver under senior credit facility
Sep. 30, 2013
Revolver under senior credit facility
Sep. 30, 2014
Due 2015
Sep. 30, 2014
Due 2016
OPERATING ACTIVITIES                          
Net income (loss) from continuing operations $ 5,437 $ (8,043)                      
Adjustments to reconcile net loss from continuing operations to net cash provided by operating activities:                          
Non-cash stock-based compensation 1,276 1,529                      
Tax benefit related to stock options exercised 78 117                      
Depreciation and amortization 14,104 11,389                      
Amortization of bank loan fees 516 682                      
Accretion of discount on Term Loan B               141 148        
Accretion of acquisition-related deferred payments and contingent consideration 486                        
Provision for bad debts 2,186 2,490                      
Deferred income taxes 3,133 (5,815)                      
Impairment of indefinite-lived long-term assets other than goodwill   345                      
Impairment of goodwill   438                      
Change in the fair value of interest rate swap 1,423 (2,545)                      
Change in the estimated fair value of contingent earn-out consideration 914                        
Loss on early retirement of long-term debt 26 27,792                      
(Gain) loss on the sale or disposal of assets 214 (20)                      
Changes in operating assets and liabilities:                          
Accounts receivable (1,476) 1,717                      
Prepaid expenses and other current assets (588) (860)                      
Accounts payable and accrued expenses 4,035 (3,756)                      
Deferred revenue (4,218) (4,148)                      
Other liabilities (428) (9)                      
Income taxes payable 27 (75)                      
Net cash provided by operating activities 27,286 21,376                      
INVESTING ACTIVITIES                          
Capital expenditures (7,910) (7,792)                      
Cash escrow deposits (paid) released related to acquisitions (120) 170                      
Purchases of businesses and assets (10,678)   (4,570) (5,000) (3,334) (707) (2,774)            
Proceeds from the sale of assets 2                        
Other (271) (117)                      
Net cash used in investing activities (18,977) (13,446)                      
FINANCING ACTIVITIES                          
Payments to redeem Terminated 9 5/8% Notes   (213,500)                      
Payment of bond premium in connection with early redemptions and repurchases of Terminated 9 5/8% Notes   (22,677)                      
Proceeds from borrowings                 298,500 44,656 20,512    
Repayments of borrowings               (7,250) (8,000) (41,897) (18,052)    
Payments of costs related to bank credit facility (14) (4,384)                      
Proceeds from borrowings under terminated credit facilities and subordinated debt   46,747                      
Payments under terminated credit facilities and subordinated debt   (87,220)                      
Payments to Terminated Subordinated Debt due to Related Parties   (15,000)                      
Payments of contingent earn-out consideration (300)                        
Proceeds from exercise of stock options 1,095 978                      
Payments of seller financed note   (2,000)                      
Payments on capital lease obligations (92) (92)                      
Payment of cash distributions on common stock (4,537) (2,474)                      
Book overdraft 276 (196)                      
Net cash used in financing activities (8,063) (6,858)                      
CASH FLOWS FROM DISCONTINUED OPERATIONS                          
Operating cash flows   (26)                      
Net cash outflows from discontinued operations   (26)                      
Net increase in cash and cash equivalents 246 1,046                      
Cash and cash equivalents at beginning of year 65 380                      
Cash and cash equivalents at end of period 311 1,426                      
Cash paid during the period for:                          
Cash paid for interest, net of capitalized interest (including $296 paid to related parties for the nine months ending September 30, 2013) 10,804 13,384                      
Cash paid for income taxes 254 250                      
Other supplemental disclosures of cash flow information:                          
Trade revenue 4,919 4,250                      
Trade expense 4,827 3,300                      
Non-cash investing and financing activities:                          
Seller financed note due directly to seller of station assets   2,000                      
Present value of advertising credits payable   2,427                      
Estimated present value of contingent earn-out consideration 2,047                        
Deferred payments due 2014 under asset purchase agreement 300                        
Present value of deferred cash payments (due 2015)                       893  
Present value of deferred cash payments (due 2016)                         2,289
Assets acquired under capital leases   $ 97