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Consolidated Statements of Cash Flows (Unaudited) (USD $)
In Thousands
9 Months Ended
Sep. 30, 2011
Sep. 30, 2010
Cash flows from operating activities:  
Net income$ 76,998$ 21,891
Adjustments to reconcile net income to net cash provided by operating activities:  
Depreciation and amortization15,2317,130
Amortization of debt issuance costs/discounts1,699919
Loss on early extinguishment of debt4,366 
Provision for doubtful accounts920922
Loss on sale of assets or stations3382
Gain on exchange of assets or stations(15,278) 
Fair value adjustment of derivative instruments(1,002)(6,536)
Deferred income taxes(68,443)2,488
Non-cash stock-based compensation2,1421,016
Other(1,318) 
Gain on equity investment in Cumulus Media Partners, LLC(11,636) 
Changes in assets and liabilities:  
Restricted cash(17)185
Accounts receivable(1,259)(1,449)
Trade receivable(555)1,442
Prepaid expenses and other current assets2,118(903)
Other assets(441)818
Accounts payable and accrued expenses24,8603,023
Trade payable345(1,528)
Other liabilities3,571(216)
Net cash provided by operating activities32,33429,284
Cash flows from investing activities:  
Consideration to complete Citadel Acquisition less cash acquired(2,024,153) 
Capital expenditures(2,885)(2,127)
Purchase of intangible assets (230)
Proceeds from sale of assets or stations 196
Net cash used in investing activities(2,027,038)(2,161)
Cash flows from financing activities:  
Proceeds from issuance of 7.75% Senior Notes due 2019610,000 
Proceeds from borrowings under term loans and revolving credit facilities, net of $25.1 million debt discount2,289,900 
Repayments of borrowings under bank credit facilities(1,214,676)(30,353)
Proceeds from sale of equity securities444,513 
Redemption of CMP Preferred Stock(41,565) 
Deferred financing costs(58,540) 
Tax withholding payments on behalf of employees(666)(184)
Payments made to creditors pursuant to credit facility amendment (245)
Net cash provided by (used in) financing activities2,028,966(30,782)
Increase (decrease) in cash and cash equivalents34,262(3,659)
Cash and cash equivalents at beginning of period12,81416,224
Cash and cash equivalents at end of period47,07612,565
Supplemental disclosures of cash flow information:  
Interest paid16,36520,420
Income taxes paid5,141259
Trade revenue12,75212,435
Trade expense$ 12,184$ 12,259