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Discontinued Operations
12 Months Ended
Dec. 31, 2011
Discontinued Operations [Abstract]  
Discontinued Operations

NOTE 2

Discontinued Operations

In October 2011, the Company sold its six Great Falls, Montana radio stations (the "Montana Stations") to STARadio Corp. ("STARadio"), which is based in Quincy, Illinois for $1.8 million, subject to certain adjustments. The Company received $1.8 million of cash and recorded a pre-tax gain on sale of discontinued operations of $1.0 million.

In accordance with authoritative guidance, the Company has reported the results of operations of the Montana Stations as discontinued operations in the accompanying consolidated financial statements. For all previously reported periods, the Company reclassified the results of the Montana Stations from continuing operations to discontinued operations. The Montana Stations were previously included in the Company's radio segment.

Operational data for the Montana Stations included in discontinued operations is summarized as follows (in thousands):

 

                         
     Year Ended December 31,  
     2011     2010     2009  

Revenue

   $ 674      $ 1,524      $ 1,290   

Income (loss) from discontinued operations:

                        

Discontinued operating activities

     (165     171        (175

Gain on sale of radio stations

     1,062        —          —     
    

 

 

   

 

 

   

 

 

 
       897        171        (175

Income tax (expense) benefit

     (329     (29     75   
    

 

 

   

 

 

   

 

 

 

Income (loss) from discontinued operations, net of income taxes

   $ 568      $ 142      $ (100