Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED BALANCE SHEETS

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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2017
Dec. 31, 2016
Current assets:    
Cash and cash equivalents $ 3 $ 130
Trade accounts receivable (net of allowances of $10,420 in 2016 and $11,019 in 2017) 34,843 37,260
Other receivables (net of allowances of $260 in 2016 and $227 in 2017) 820 751
Inventories (net of reserves of $2,226 in 2016 and $1,657 in 2017) 730 670
Prepaid expenses 6,824 6,287
Deferred income taxes 0 9,411
Assets held for sale 3,500 0
Total current assets 46,720 54,509
Land held for sale 1,000 1,000
Notes receivable (net of allowance of $564 in 2016 and $759 in 2017) 53 65
Property and equipment (net of accumulated depreciation of $156,024 in 2016 and $164,720 in 2017) 99,480 102,790
Broadcast licenses 380,914 388,517
Goodwill 26,424 25,613
Other indefinite-lived intangible assets 313 332
Amortizable intangible assets (net of accumulated amortization of $44,488 in 2016 and $47,179 in 2017) 13,104 14,408
Deferred financing costs 550 82
Deferred income taxes 1,070 0
Other assets 3,191 2,952
Total assets 572,819 590,268
Current liabilities:    
Accounts payable 1,584 4,968
Accrued expenses 11,697 15,658
Accrued compensation and related expenses 7,643 8,133
Accrued interest 1,445 77
Current portion of deferred revenue 10,499 9,491
Income taxes payable 172 223
Current portion of long-term debt and capital lease obligations 9,109 590
Total current liabilities 42,149 39,140
Long-term debt and capital lease obligations, less current portion 249,579 261,084
Fair value of interest rate swap 0 514
Deferred income taxes 34,151 63,423
Deferred rent expense 9,494 9,596
Deferred revenue less current portion 6,101 5,252
Other long-term liabilities 64 67
Total liabilities 341,538 379,076
Commitments and contingencies (Note 14)
Stockholders' Equity:    
Additional paid-in capital 244,634 242,400
Accumulated earnings 20,370 2,516
Treasury stock, at cost (2,317,650 shares at December 31, 2016 and 2017) (34,006) (34,006)
Total stockholders' equity 231,281 211,192
Total liabilities and stockholders' equity 572,819 590,268
Common Class A [Member]    
Stockholders' Equity:    
Common stock 227 226
Total stockholders' equity 227 226
Common Class B [Member]    
Stockholders' Equity:    
Common stock 56 56
Total stockholders' equity $ 56 $ 56