Discontinued Operations

6 Months Ended

Jun. 30, 2014

Discontinued Operations

9. Discontinued Operations

During the fourth quarter of 2013, we consummated the sale of GVE Newco, LLC (“GVE”), a wholly-owned subsidiary of ours representing our non-branded entertainment media business and discontinued our direct response television operations. In connection with these discontinued operations, we recognized certain exit activity and asset impairment charges. Accordingly, the assets and liabilities, operating results, and cash flows for these businesses are presented as discontinued operations in our financial statements and footnotes presented herein. After the sale was consummated, we continued providing extensive administrative and accounting services to the buyer through May 2014. Since May 2014, our services have been limited to collection of outstanding receivables.

The income from discontinued operations amounts as reported on our consolidated statements of operations were comprised of the following amounts:

	Three Months Ended June 30,					Six Months Ended June 30,
(in thousands)	2014		2013			2014		2013
Net revenue	$	255	$	12,648		$	2,509	$	32,602
Income from operations before income taxes		2		292			28		3,599
Income tax expense		—		144			—		1,273
Income (loss) from operations of discontinued operations	$	2	$	(129	)	$	28	$	1,852