DISCONTINUED OPERATIONS:

6 Months Ended

Jun. 30, 2013

Discontinued Operations and Disposal Groups [Abstract]

Disposal Groups, Including Discontinued Operations, Disclosure [Text Block]

3.  DISCONTINUED OPERATIONS:

As of June 2011, our remaining Boston radio station was made the subject of an LMA whereby we made available, for a fee, air time on this station to another party. As of November 2012, our Columbus, Ohio radio station operating under the call letters WJKR was made the subject of an LMA and was subsequently sold on February 15, 2013. The remaining assets and liabilities of stations sold and stations that we do not operate as they are the subject of an LMA have been reclassified as discontinued operations as of June 30, 2013, and December 31, 2012. Thus, stations sold and stations that we do not operate that are the subject of an LMA results from operations for the three months and six months ended June 30, 2013 and 2012, have been reclassified as discontinued operations in the accompanying consolidated financial statements.

The following table summarizes the operating results for the stations sold and stations that we do not operate that are the subject of an LMA and are classified as discontinued operations for all periods presented:

	Three Months Ended  June 30,				Six Months Ended  June 30,
	2013		2012		2013		2012
	(Unaudited)
	(In thousands)
Net revenue	$	—	$	85	$	—	$	163
Station operating expenses		65		137		130		302
Depreciation and amortization		11		18		23		36
Interest income		91		90		178		180
Gain on sale of assets		—		—		893		—
Income from discontinued operations, net of tax	$	15	$	20	$	918	$	5

 

The assets and liabilities of these stations classified as discontinued operations in the accompanying consolidated balance sheets consisted of the following: 

	As of
	June 30,		December 31,
	2013		2012
	(Unaudited)
	(In thousands)
Currents assets:
Accounts receivable, net of allowance for doubtful accounts	$	127	$	127
Total current assets		127		127
Intangible assets, net		1,202		4,302
Property and equipment, net		189		264
Total assets	$	1,518	$	4,693
Current liabilities:
Other current liabilities	$	189	$	107
Total current liabilities		189		107
Long-term liabilities		13		23
Total liabilities	$	202	$	130