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Condensed Consolidated Statements of Operations (Unaudited) (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended 9 Months Ended
Nov. 30, 2011
Nov. 30, 2010
Nov. 30, 2011
Nov. 30, 2010
Condensed Consolidated Statements of Operations [Abstract]        
NET REVENUES $ 59,319 $ 66,322 $ 185,086 $ 193,240
OPERATING EXPENSES:        
Station operating expenses excluding depreciation and amortization expense of $1,989, $1,342, $6,059 and $5,017, respectively 47,903 49,131 149,386 149,375
Corporate expenses excluding depreciation and amortization expense of $307, $409, $1,007 and $955, respectively 4,972 3,403 15,276 13,278
Depreciation and amortization 1,751 2,296 5,972 7,066
Loss on sale of assets   3 814 3
Total operating expenses 54,626 54,833 171,448 169,722
OPERATING INCOME 4,693 11,489 13,638 23,518
OTHER INCOME (EXPENSE):        
Interest expense (6,257) (5,195) (21,681) (16,084)
Loss on debt extinguishment (525)   (2,003)  
Gain on sale of controlling interest in Merlin Media LLC 31,805   31,805  
Other expense, net (394) (132) (52) (238)
Total other income (expense) 24,629 (5,327) 8,069 (16,322)
INCOME BEFORE INCOME TAXES AND DISCONTINUED OPERATIONS 29,322 6,162 21,707 7,196
PROVISION (BENEFIT) FOR INCOME TAXES (27,477) 4,068 (26,987) 4,316
INCOME FROM CONTINUING OPERATIONS 56,799 2,094 48,694 2,880
(GAIN) LOSS FROM DISCONTINUED OPERATIONS, NET OF TAX (1,903) 34 (4,693) 229
CONSOLIDATED NET INCOME 58,702 2,060 53,387 2,651
NET INCOME ATTRIBUTABLE TO NONCONTROLLING INTERESTS 1,069 1,288 3,813 3,346
NET INCOME (LOSS) ATTRIBUTABLE TO THE COMPANY 57,633 772 49,574 (695)
GAIN ON EXTINGUISHMENT OF PREFERRED STOCK (55,835)   (55,835)  
PREFERRED STOCK DIVIDENDS 2,603 2,446 7,689 7,226
NET INCOME (LOSS) ATTRIBUTABLE TO COMMON SHAREHOLDERS 110,865 (1,674) 97,720 (7,921)
Amounts attributable to common shareholders for basic earnings per share:        
Continuing operations 108,954 (1,679) 92,970 (8,008)
Discontinued operations 1,911 5 4,750 87
NET INCOME (LOSS) ATTRIBUTABLE TO COMMON SHAREHOLDERS 110,865 (1,674) 97,720 (7,921)
Amounts attributable to common shareholders for diluted earnings per share:        
Continuing operations 111,557 (1,679) 100,659 (8,008)
Discontinued operations 1,911 5 4,750 87
Net income (loss) attributable to common shareholders $ 113,468 $ (1,674) $ 105,409 $ (7,921)
Basic net income (loss) per share attributable to common shareholders:        
Continuing operations $ 2.85 $ (0.04) $ 2.43 $ (0.21)
Discontinued operations, net of tax $ 0.05   $ 0.13  
Net loss attributable to common shareholders $ 2.90 $ (0.04) $ 2.56 $ (0.21)
Basic weighted average common shares outstanding 38,219 37,844 38,210 37,802
Diluted net income (loss) per share attributable to common shareholders:        
Continuing operations $ 2.44 $ (0.04) $ 2.19 $ (0.21)
Discontinued operations, net of tax $ 0.05 $ 0 $ 0.10 $ 0
Net loss attributable to common shareholders $ 2.49 $ (0.04) $ 2.29 $ (0.21)
Diluted weighted average common shares outstanding 45,647 37,844 45,950 37,802