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ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: (Tables)
6 Months Ended
Jun. 30, 2013
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]
The following table sets forth the calculation of basic and diluted earnings per share from continuing operations (in thousands, except share and per share data):
 
 
 
Three Months Ended 
June 30,
 
Six Months Ended 
June 30,
 
 
 
2013
 
2012
 
2013
 
2012
 
 
 
(Unaudited)
 
 
 
(In Thousands)
 
Numerator:
 
 
 
 
 
 
 
 
 
 
 
 
 
Net (loss) income attributable to common stockholders
 
$
(14,229)
 
$
42,648
 
$
(33,238)
 
$
(36,579)
 
Denominator:
 
 
 
 
 
 
 
 
 
 
 
 
 
Denominator for basic net (loss) income per share - weighted average outstanding shares
 
 
48,737,941
 
 
50,006,085
 
 
49,299,953
 
 
49,997,752
 
Effect of dilutive securities:
 
 
 
 
 
 
 
 
 
 
 
 
 
Stock options and restricted stock
 
 
 
 
118,333
 
 
 
 
 
Denominator for diluted net (loss) income per share - weighted-average outstanding shares
 
 
48,737,941
 
 
50,124,418
 
 
49,299,953
 
 
49,997,752
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net (loss) income attributable to common stockholders per share - basic
 
$
(0.29)
 
$
0.85
 
$
(0.67)
 
$
(0.73)
 
Net (loss) income attributable to common stockholders per share - diluted
 
$
(0.29)
 
$
0.85
 
$
(0.67)
 
$
(0.73)
 
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block]
The following table summarizes the potential common shares excluded from the diluted calculation.
 
 
 
Three Months Ended
 
Six Months Ended
 
Six Months Ended
 
 
 
June 30, 2013
 
June 30, 2013
 
June 30, 2012
 
 
 
(Unaudited)
 
 
 
(In Thousands)
 
 
 
 
 
 
 
 
 
 
 
 
Stock options
 
 
4,630
 
 
4,630
 
 
4,712
 
Restricted stock
 
 
167
 
 
167
 
 
119
 
Fair Value, by Balance Sheet Grouping [Table Text Block]
As of June 30, 2013 and December 31, 2012, the fair values of our financial assets and liabilities are categorized as follows:
 
 
 
Total
 
Level 1
 
Level 2
 
Level 3
 
 
 
(Unaudited)
 
 
 
(In thousands)
 
As of June 30, 2013
 
 
 
 
 
 
 
 
 
 
 
 
 
Assets subject to fair value measurement:
 
 
 
 
 
 
 
 
 
 
 
 
 
Corporate debt securities (a)
 
$
1,042
 
$
1,042
 
$
 
$
 
Mutual funds (a)
 
 
2,223
 
 
2,223
 
 
 
 
 
Total
 
$
3,265
 
$
3,265
 
$
 
$
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Liabilities subject to fair value measurement:
 
 
 
 
 
 
 
 
 
 
 
 
 
Incentive award plan (b)
 
$
4,739
 
$
 
$
 
$
4,739
 
Employment agreement award (c)
 
 
12,610
 
 
 
 
 
 
12,610
 
Total
 
$
17,349
 
$
 
$
 
$
17,349
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Mezzanine equity subject to fair value measurement:
 
 
 
 
 
 
 
 
 
 
 
 
 
Redeemable noncontrolling interests (d)
 
$
11,865
 
$
 
$
 
$
11,865
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
As of December 31, 2012
 
 
 
 
 
 
 
 
 
 
 
 
 
Assets subject to fair value measurement:
 
 
 
 
 
 
 
 
 
 
 
 
 
Corporate debt securities (a)
 
$
192
 
$
192
 
$
 
$
 
Mutual funds (a)
 
 
1,502
 
 
1,502
 
 
 
 
 
Total
 
$
1,694
 
$
1,694
 
$
 
$
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Liabilities subject to fair value measurement:
 
 
 
 
 
 
 
 
 
 
 
 
 
Incentive award plan (b)
 
$
5,345
 
$
 
$
 
$
5,345
 
Employment agreement award (c)
 
 
11,374
 
 
 
 
 
 
11,374
 
Total
 
$
16,719
 
$
 
$
 
$
16,719
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Mezzanine equity subject to fair value measurement:
 
 
 
 
 
 
 
 
 
 
 
 
 
Redeemable noncontrolling interests (d)
 
$
12,853
 
$
 
$
 
$
12,853
 
  
(a)    Where quoted market prices are available in an active market, securities are classified within Level 1 of the valuation hierarchy. If quoted market prices are not available, fair values are estimated using pricing models, quoted prices of securities with similar characteristics or discounted cash flows.
 
(b)   These balances are measured based on the estimated enterprise fair value of TV One. Significant inputs to the discounted cash flow analysis include forecasted operating results, discount rate and a terminal value. A third-party valuation firm assisted the Company in estimating TV One’s fair value. Significant inputs to the discounted cash flow analysis include forecasted operating results, discount rate and a terminal value. There are specific unit holders for which the enterprise fair value is fixed.
 
(c)   Pursuant to an employment agreement (the “Employment Agreement”) executed in April 2008, the Chief Executive Officer (“CEO”) is eligible to receive an award amount equal to 8% of any proceeds from distributions or other liquidity events in excess of the return of the Company’s aggregate investment in TV One. The Company reviews the factors underlying this award at the end of each quarter including the valuation of TV One and an assessment of the probability that the employment agreement will be renewed and contain this provision. There are probability factors included in the calculation of the award related to the likelihood that the award will be realized. The Company’s obligation to pay the award will be triggered only after the Company’s recovery of the aggregate amount of its capital contribution in TV One and only upon actual receipt of distributions of cash or marketable securities or proceeds from a liquidity event with respect to the Company’s membership interest in TV One. The CEO was fully vested in the award upon execution of the Employment Agreement, and the award lapses if the CEO voluntarily leaves the Company or is terminated for cause. A third-party valuation firm assisted the Company in estimating TV One’s fair value. Significant inputs to the discounted cash flow analysis include forecasted operating results, discount rate and a terminal value. The terms of the Employment Agreement remain in effect including eligibility for the TV One award.
 
(d)   The redeemable noncontrolling interest in Reach Media is measured at fair value using a discounted cash flow methodology.  A third-party valuation firm assisted the Company in estimating the fair value. Significant inputs to the discounted cash flow analysis include forecasted operating results, discount rate and a terminal value.
Fair Value, Liabilities Measured on Recurring Basis [Table Text Block]
The following table presents the changes in Level 3 liabilities measured at fair value on a recurring basis for the six months ended June 30, 2013 and 2012:
 
 
 
Incentive
Award
Plan
 
Employment
Agreement
Award
 
Redeemable
Noncontrolling
Interests
 
 
 
(In thousands)
 
 
 
 
 
 
 
 
 
 
 
 
Balance at December 31, 2012
 
$
5,345
 
$
11,374
 
$
12,853
 
Distribution
 
 
(594)
 
 
 
 
 
Net income attributable to noncontrolling interests
 
 
 
 
 
 
123
 
Change in enterprise fair value
 
 
(12)
 
 
1,236
 
 
(1,111)
 
Balance at June 30, 2013
 
$
4,739
 
$
12,610
 
$
11,865
 
 
 
 
 
 
 
 
 
 
 
 
The amount of total losses for the period included in earnings attributable to the change in unrealized losses relating to assets and liabilities still held at the reporting date
 
$
(12)
 
$
(1,236)
 
$
 
 
 
 
Incentive
Award
Plan
 
Employment
Agreement
Award
 
Redeemable
Noncontrolling
Interests
 
 
 
(In thousands)
 
 
 
 
 
 
 
 
 
 
 
 
Balance at December 31, 2011
 
$
5,096
 
$
10,346
 
$
20,343
 
Net loss attributable to noncontrolling interests
 
 
 
 
 
 
(567)
 
Change in enterprise fair value
 
 
 
 
693
 
 
(1,776)
 
Balance at June 30, 2012
 
$
5,096
 
$
11,039
 
$
18,000
 
 
 
 
 
 
 
 
 
 
 
 
The amount of total losses for the period included in earnings attributable to the change in unrealized losses relating to assets and liabilities still held at the reporting date
 
$
 
$
(693)
 
$
 
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Table Text Block]
For Level 3 assets and liabilities measured at fair value on a recurring basis, the significant unobservable inputs used in the fair value measurements were as follows:
 
 
 
 
 
Significant
 
As of June 30,
2013
 
As of 
December 31, 
2012
 
As of June
30, 2012
 
Level 3 liabilities
 
Valuation Technique
 
Unobservable Inputs
 
Significant Unobservable Input Value
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Incentive award plan
 
Discounted Cash Flow
 
Discount Rate
 
 
10.8
%
 
10.8
%
 
11.5
%
Incentive award plan
 
Discounted Cash Flow
 
Long-term Growth Rate
 
 
3.0
%
 
3.0
%
 
3.0
%
Employment agreement award
 
Discounted Cash Flow
 
Discount Rate
 
 
10.8
%
 
10.8
%
 
11.5
%
Employment agreement award
 
Discounted Cash Flow
 
Long-term Growth Rate
 
 
3.0
%
 
3.0
%
 
3.0
%
Redeemable noncontrolling interest
 
Discounted Cash Flow
 
Discount Rate
 
 
13.5
%
 
11.5
%
 
12.5
%
Redeemable noncontrolling interest
 
Discounted Cash Flow
 
Long-term Growth Rate
 
 
1.5
%
 
2.0
%
 
2.5
%
Schedule of Derivative Liabilities at Fair Value [Table Text Block]
The fair values and the presentation of the Company’s derivative instruments in the consolidated balance sheets are as follows: 
 
 
 
Liability Derivatives
 
 
 
As of June 30, 2013
 
As of December 31, 2012
 
 
 
(Unaudited)
 
 
 
 
 
 
 
 
(In thousands)
 
 
 
Balance Sheet Location
 
Fair Value
 
Balance Sheet Location
 
Fair Value
 
Derivatives not designated as hedging
instruments:
 
 
 
 
 
 
 
 
 
 
 
Employment agreement award
 
Other Long-Term Liabilities
 
$
12,610
 
Other Long-Term Liabilities
 
$
11,374
 
Total derivatives
 
 
 
$
12,610
 
 
 
$
11,374
 
Schedule Of Derivative Instruments Not Designated As Hedging Instruments [Table Text Block]
The effect and the presentation of the Company’s derivative instruments on the consolidated statements of operations are as follows:
   
Derivatives Not Designated
as Hedging Instruments
 
Location of Gain (Loss)
in Income of Derivative
 
Amount of Gain (Loss) in Income of Derivative
 
 
 
 
 
Three Months Ended June 30,
 
 
 
 
 
2013
 
2012
 
 
 
 
 
(Unaudited)
 
 
 
 
 
(In thousands)
 
 
 
 
 
 
 
 
 
 
 
Employment agreement award
 
Corporate selling, general and administrative expense
 
$
(774)
 
$
(343)
 
  
Derivatives Not Designated
  as Hedging Instruments
 
Location of Gain (Loss)
in Income of Derivative
 
Amount of Gain (Loss) in Income of Derivative
 
 
 
 
 
Six Months Ended June 30,
 
 
 
 
 
2013
 
2012
 
 
 
 
 
(Unaudited)
 
 
 
 
 
(In thousands)
 
 
 
 
 
 
 
 
 
 
 
Employment agreement award
 
Corporate selling, general and administrative expense
 
$
(1,236)
 
$
(693)
 
Reach Media, Inc. [Member]
 
Fair Value, by Balance Sheet Grouping [Table Text Block]
As of June 30, 2013 and December 31, 2012, the fair values of our financial assets and liabilities are categorized as follows:
 
 
 
Total
 
Level 1
 
Level 2
 
Level 3
 
 
 
(Unaudited)
 
 
 
(In thousands)
 
As of June 30, 2013
 
 
 
 
 
 
 
 
 
 
 
 
 
Mezzanine equity subject to fair value measurement:
 
 
 
 
 
 
 
 
 
 
 
 
 
Redeemable noncontrolling interests (a)
 
$
11,865
 
$
 
$
 
$
11,865
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
As of December 31, 2012
 
 
 
 
 
 
 
 
 
 
 
 
 
Mezzanine equity subject to fair value measurement:
 
 
 
 
 
 
 
 
 
 
 
 
 
Redeemable noncontrolling interests (a)
 
$
12,853
 
$
 
$
 
$
12,853
 
 
(a)    The redeemable noncontrolling interest is measured at fair value using a discounted cash flow methodology.  A third-party valuation firm assisted the Company in estimating the fair value. Significant inputs to the discounted cash flow analysis include forecasted operating results, discount rate and a terminal value.
 
Fair Value, Liabilities Measured on Recurring Basis [Table Text Block]
The following table presents the changes in Level 3 liabilities measured at fair value on a recurring basis for the six months ended June 30, 2013:
 
 
 
Redeemable
Noncontrolling
Interests
 
 
 
 
 
 
Balance at December 31, 2012
 
$
12,853
 
Change in enterprise fair value
 
 
(988)
 
Balance at June 30, 2013
 
$
11,865
 
 
 
 
 
 
The amount of total losses for the period included in earnings attributable to the change in unrealized losses relating to assets and liabilities still held at the reporting date
 
$
 
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Table Text Block]
For Level 3 assets and liabilities measured at fair value on a recurring basis, the significant unobservable inputs used in the fair value measurements were as follows:
 
 
 
 
 
 
 
As of June 30,
2013
 
 
As of
December 31,
2012
 
 
As of June
30, 2012
 
Level 3 liabilities
 
Valuation Technique
 
Significant
Unobservable Inputs
 
Significant Unobservable Input Value
 
Redeemable noncontrolling interest
 
Discounted Cash Flow
 
Discount Rate
 
 
13.5
%
 
 
11.5
%
 
 
12.5
%
Redeemable noncontrolling interest
 
Discounted Cash Flow
 
Long-term Growth Rate
 
 
1.5
%
 
 
2.0
%
 
 
2.5
%