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GOODWILL, RADIO BROADCASTING LICENSES AND OTHER INTANGIBLE ASSETS: (Tables)
12 Months Ended
Dec. 31, 2012
Goodwill and Radio Broadcasting Licenses [Abstract]  
Schedule Of Radio Broadcasting Licenses Impairment [Table Text Block]

Our methodology for valuing broadcasting licenses has been consistent for all periods presented. Below are some of the key assumptions used in the income approach model for estimating broadcasting licenses fair values for all annual and interim impairments assessments performed since October 2010.

 

Radio Broadcasting   October 1,     October 1,        June 30,       October 1,     
Licenses   2010     2011       2012 (a)       2012    
                                 
Pre-tax impairment charge (in millions)   $ 19.9     $     $ 0.3     $  
                                 
Discount Rate     10.0 %     10.0 %     10.0 %     10.0 %
Year 1 Market Revenue Growth Rate Range     1.0% -3.0 %      1.5% -2.5 %     1.0% -3.0 %     1.0% -2.0 %
Long-term Market Revenue Growth Rate Range (Years 6 – 10)      1.0% - 2.5 %      1.0% - 2.0 %     1.0% - 2.0 %     1.0% -2.0 %
Mature Market Share Range      0.8% - 28.3 %      0.7% - 28.9 %     5.8% - 15.6 %     0.7% - 27.4 %
Operating Profit Margin Range      19.0% - 47.3 %      19.1% - 47.4 %     29.1% - 48.0 %     19.6% - 47.7 %

 

a)   Reflects changes only to the key assumptions used in the interim testing for certain units of accounting.
Schedule of Indefinite-Lived Intangible Assets [Table Text Block]
Radio Broadcasting Licenses
Carrying Balances
 
    As of           As of  
Unit of Accounting   December
31, 2011
    Impairment     December
31, 2012
 
    (In thousands )  
                   
Unit of Accounting 2   $ 3,086     $ -     $ 3,086  
Unit of Accounting 4     9,482       (313 )     9,169  
Unit of Accounting 5     18,657       -       18,657  
Unit of Accounting 7     16,165       -       16,165  
Unit of Accounting 14     20,434       -       20,434  
Unit of Accounting 15     20,886       -       20,886  
Unit of Accounting 11     21,135       -       21,135  
Unit of Accounting 9     34,270       -       34,270  
Unit of Accounting 6     26,242       -       26,242  
Unit of Accounting 16     52,965       -       52,965  
Unit of Accounting 13     52,556       -       52,556  
Unit of Accounting 8     66,715       -       66,715  
Unit of Accounting 12     58,779       -       58,779  
Unit of Accounting 1     93,394       -       93,394  
Unit of Accounting 10     179,541       -       179,541  
Total   $ 674,307     $ (313 )   $ 673,994
Schedule Of Good Will Impairment Test Radio Marketing Unit [Table Text Block]

Below are some of the key assumptions used in the income approach model for estimating reporting unit fair values for all interim and annual impairment assessments performed since October 2010.  

 

Goodwill (Radio Market   October 1,     October 1,     October 1,  
Reporting Units)   2010 (a)     2011 (a)     2012 (a)  
                         
Pre-tax impairment charge (in millions)   $     $ 14.5     $  
                         
Discount Rate     10.0 %     10.0 %     10.0 %
Year 1 Market Revenue Growth Rate Range      1.5% -3.0 %      2.0% -2.5 %      1.0% -2.0 %
Long-term Market Revenue Growth Rate Range (Years 6 – 10)      1.5% - 2.5 %      1.5% - 2.0 %      1.5% - 2.0 %
Mature Market Share Range      7.0% - 23.0 %      7.4% - 20.8 %      6.7% - 20.8 %
Operating Profit Margin Range      27.5% - 58.0 %      29.5% - 54.0 %      29.3% - 58.5 %

   

(a) Reflects the key assumptions for testing only those radio markets with remaining goodwill.
Schedule Of Goodwill Impairment Test Reach Media Goodwil [Table Text Block]

 

    October     December     October       October  
    1,     31,     1,     1,  
Reach Media Goodwill   2010     2010     2011     2012  
                                 
Pre-tax impairment charge (in millions)   $ -     $ 16.1     $ -     $ -  
                                 
Discount Rate     13.0 %     13.5 %     12.0 %     12.0 %
Year 1 Revenue Growth Rate     2.5 %     2.5 %     2.5 %     2.0 %
Long-term Revenue Growth Rate Range      2.5% - 3.3 %      (2.6)% - 4.4 %      (2.0)% - 3.5 %     (4.7)% - 2.8 %
Operating Profit Margin Range      25.5% - 31.2  %      15.5% - 25.9 %      18.8% - 21.7 %     4.6% - 19.8 %
Schedule Of Goodwill Impairment Test Goodwill Internet Segment [Table Text Block]
Goodwill (Internet   October 1,     October 1,     October 1,  
Segment)   2010     2011     2012  
                         
Pre-tax impairment charge (in millions)   $ -     $ -     $ -  
                         
Discount Rate     15.0 %     14.5 %     13.5 %
Year 1 Revenue Growth Rate     24.5 %     20.3 %     13.8 %
Long-term Revenue Growth Rate (Year 10)     3.0 %     2.5 %     2.5 %
Operating Profit Margin Range     (0.6)% - 32.7 %     0.0% - 28.8 %     (4.8)% - 24.2 %
Schedule Of Goodwill Impairment Test Cable Television Goodwill [Table Text Block]
December 31,     October 1,  
Cable Television Goodwill   2011     2012  
                 
Pre-tax impairment charge (in millions)   $     $  
                 
Discount Rate     11.5 %     10.75 %
Year 1 Revenue Growth Rate     13.9 %     11.2 %
                 
Long-term Revenue Growth Rate Range     2.7% - 13.9 %     2.5% - 12.2 %
                 
Operating Profit Margin Range     29.9% - 42.2 %     33.3% - 36.2 %

 

Schedule Of Changes In Carrying Amount Of Goodwill [Table Text Block]

The table below presents the Company’s goodwill carrying values for its four reportable segments. There were no changes to the goodwill carrying balances during the year ended December 31, 2012. As noted above, the 20 reporting units consist of the 16 radio markets plus four other business divisions. The actual reporting units are not disclosed so as to not make sensitive information publicly available that could potentially be competitively harmful to the Company.

 

 

 

Goodwill Carrying Balances

 

 

 

As of

 

 

 

 

 

As of

 

Reporting Unit

 

December
31, 2011

 

 

Increase
(Decrease)

 

 

December
31, 2012

 

 

 

 

 

 

(In millions)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Radio Broadcasting Segment

 

$

70.8

 

 

$

-

 

 

$

70.8

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Reach Media Segment

 

 

14.4

 

 

 

-

 

 

 

14.4

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Internet Segment

 

 

21.8

 

 

 

-

 

 

 

21.8

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cable Television Segment

 

 

165.0

 

 

 

-

 

 

 

165.0

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total

 

$

272.0

 

 

$

-

 

 

$

272.0

Schedule of Finite-Lived Intangible Assets [Table Text Block]

Other intangible assets, excluding goodwill and radio broadcasting licenses, are being amortized on a straight-line basis over various periods. Other intangible assets consist of the following:

 

    As of December 31,      
    2012     2011     Period of Amortization
    (In thousands)      
                 
Trade names   $ 17,133     $ 17,133     2-5 Years
Talent agreement     19,549       19,549     10 Years
Debt financing and modification costs     18,674       16,115     Term of debt
Intellectual property     14,151       14,151     4-10 Years
Affiliate agreements     186,755       186,755     1-10 Years
Acquired income leases     1,282       1,282     3-9 Years
Non-compete agreements     1,260       1,260     1-3 Years
Advertiser agreements     47,688       47,688     2-7 Years
Favorable office and transmitter leases     3,358       3,358     2-60 Years
Brand names     2,539       2,539     2.5 Years
Brand names - unamortized     39,688       39,688      
Other intangibles     3,662       3,662     1-5 Years
      355,739       353,180      
Less: Accumulated amortization     (121,738 )     (90,200 )    
Other intangible assets, net   $ 234,001     $ 262,980
Schedule of Expected Amortization Expense [Table Text Block]

The following table presents the Company’s estimate of amortization expense for the years 2013 through 2017 for intangible assets, excluding deferred financing costs:

 

    (In thousands)  
       
2013   $ 27,912  
2014   $ 27,314  
2015   $ 26,043  
2016   $ 25,886  
2017   $ 25,880