QUARTERLY RESULTS OF OPERATIONS (Unaudited)

12 Months Ended

Dec. 31, 2013

QUARTERLY RESULTS OF OPERATIONS (Unaudited)

NOTE 14 – QUARTERLY RESULTS OF OPERATIONS (Unaudited)

(In thousands, except per share data)

	Three Months Ended March 31,				Three Months Ended June 30,				Three Months Ended September 30,				Three Months Ended December 31,
	2013		2012		2013		2012		2013		2012		2013		2012
Revenue		$1,343,058		$1,360,723		$1,618,097		$1,602,494		$1,587,522		$1,587,331		$1,694,367		$1,696,336
Operating expenses:
Direct operating expenses		594,817		608,571		630,357		602,803		646,113		633,770		672,132		649,097
Selling, general and administrative expenses		403,363		426,083		411,341		401,479		411,354		407,501		423,803		431,355
Corporate expenses		83,763		72,606		77,557		72,094		92,204		73,921		70,658		78,745
Depreciation and amortization		182,182		175,366		179,734		181,839		177,330		182,350		191,582		189,730
Impairment charges		-		-		-		-		-		-		16,970		37,651
Other operating income, net		2,395		3,124		1,113		1,917		6,186		42,118		13,304		968
Operating income		81,328		81,221		320,221		346,196		266,707		331,907		332,526		310,726
Interest expense		385,525		374,016		407,508		385,867		438,404		388,210		418,014		400,930
Gain (loss) on marketable securities		-		-		130,898		-		31		-		(50)		(4,580)
Equity in earnings (loss) of nonconsolidated affiliates		3,641		3,555		5,971		4,696		3,983		3,663		(91,291)		6,643
Loss on extinguishment of debt		(3,888)		(15,167)		-		-		-		-		(83,980)		(239,556)
Other income (expense), net		(1,000)		(1,106)		(18,098)		(1,397)		1,709		824		(4,591)		1,929
Income (loss) before income taxes		(305,444)		(305,513)		31,484		(36,372)		(165,974)		(51,816)		(265,400)		(325,768)
Income tax benefit (expense)		96,325		157,398		(11,477)		8,663		73,802		13,232		(36,833)		128,986
Consolidated net income (loss)		(209,119)		(148,115)		20,007		(27,709)		(92,172)		(38,584)		(302,233)		(196,782)
Less amount attributable to noncontrolling interest		(6,116)		(4,486)		12,805		11,316		9,683		11,977		6,994		(5,518)
Net income (loss) attributable to the Company		$(203,003)		$(143,629)		$7,202		$(39,025)		$(101,855)		$(50,561)		$(309,227)		$(191,264)