Subsequent events: (Tables)

3 Months Ended

Mar. 31, 2013

Subsequent events:

Schedule of carrying amounts and classifications of acquirer's historical assets and liabilities

The carrying amounts and classifications of WAPA’s historical assets and liabilities as the accounting acquirer as of March 31, 2013 are as follows (in thousands):

	WAPA
	(historical predecessor)
Cash	$	7,214
Accounts receivable, net	8,212
Programming rights	5,468
Other assets	5,568
Total current assets	26,463
Programming rights	4,072
Property and equipment, net	26,117
Broadcast license	41,356
Goodwill	10,983
Other intangibles, net	1,620
Other assets	2,707
Total Assets	$	113,318
Accounts payable & accrued expenses	$	8,620
Programming rights payable	4,255
Current portion of long term debt	6,456
Total current liabilities	19,331
Programming rights payable	2,157
Long-term debt, net of current portion	50,556
Other liabilities	2,139
Total Liabilities	$	74,183

Schedule of allocation of the purchase price to the estimated fair values of the assets acquired and liabilities assumed

The following table summarizes the allocation of the purchase price to the estimated fair values of the assets acquired and liabilities assumed in the acquisition of Cinelatino (in thousands):

Cash	$	12,865
Accounts receivable, net	4,053
Programming rights	4,460
Prepaid expenses and other current assets	940
Property and equipment, net	21
Other assets	15,495
Intangible asset - affiliate agreements	23,100
Current liabilities	(6,272		)
Long-term debt	(32,097		)
Fair value of identifiable net assets acquired	22,565
Goodwill	99,365
Total	$	121,930

Schedule of unaudited pro forma results of operations

The following table sets forth the unaudited pro forma results of operations assuming that the acquisition of Cinelatino occurred on January 1, 2013 (in thousands):

	Three Months Ended March 31, 2013
	WAPA			Cinelatino			Pro Forma
	(historical predecessor)
Net Revenues	$	13,495		$	6,104		$	19,599
Operating Expenses:
Cost of revenues	5,856			1,053			6,909
Selling, general and administrative	3,429			754			4,183
Depreciation and amortization	1,011			964			1,975
Other expenses	3,292			2,068			5,360
Loss on disposition of assets	25			—			25
Total operating expenses	13,612			4,839			18,451
Operating (loss) income	(117		)	1,265			1,148
Interest expense	(771		)	(462		)	(1,233		)
Income tax benefit (expense)	363			(821		)	(458		)
Net loss	$	(525	)	$	(18	)	$	(543	)