XML 43 R5.htm IDEA: XBRL DOCUMENT v2.4.0.6
Statement of Cash Flows (USD $)
In Thousands, unless otherwise specified
12 Months Ended
Dec. 31, 2011
Dec. 31, 2010
Net loss $ (10,842) $ (11,387)
Adjustments to reconcile net loss to net cash (used in) provided by operating activity, net of acquisitions:    
Depreciation and amortization 18,986 18,639
Non-cash interest expense 13,055 13,764
Deferred taxes (22,626) 2,115
Gain from the 24/7 Formats purchase (4,950) 0
Amortization of original issue discount and deferred financing costs 3,663 1,472
Stock-based compensation 1,280 0
Bad debt expense 401 408
Unpaid Preferred Stock dividend 171 0
Increase in deferred rent 165 306
Loss in investment 561 561
Change in fair value of interest rate swap 0 (1,147)
Gain from re-measurement of investment of discontinued operations 0 (5,573)
Loss in equity investment 0 778
Write-off of loan receivable 0 695
Foreign currency transaction loss 0 13
Accounts receivable (7,551) 347
Prepaid expenses and other current assets 1,371 894
Other assets 961 (1,576)
Accounts payable 3,561 (2,141)
Accrued expenses and other current liabilities 4,481 20
Other liabilities (737) (28)
Total adjustments 12,792 29,547
Net cash provided by (used in) operating activities 1,950 18,160
CASH FLOWS FROM INVESTING ACTIVITIES:    
Acquisition of property and equipment (4,286) (4,580)
Acquisition of Westwood and purchase of 24/7 Formats, net of cash acquired (1,618) 0
Cash transferred to Digital Services business (5,877) 0
Acquisitions of business, net of cash acquired (67) (31,490)
Net cash used in investing activities (11,848) (36,070)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Repayment of long-term debt in Merger (161,463) 0
Repayments of paid in kind interest (47,949) 0
Borrowings under First Lien Term Loan 145,800 0
Borrowings under Second Lien Term Loan 82,450 0
Borrowings under First Lien Revolver 9,600 0
Repayment of long-term debt (8,513) (11,368)
Payment of contingent liability on acquisition (895) 0
Principle payment of capital lease obligation (43) (243)
Deferred financing costs (12,045) (1,515)
Repayment under First Lien Revolver (5,000) 0
Borrowings from bank line of credit 900 0
Repayment of bank line of credit (900) 0
Payments of Stock Issuance Costs (365) 0
Proceeds from long-term debt 0 20,000
Proceeds from issuance of PIK Notes 0 15,000
Issuance of common stock 0 6,075
Net cash provided by financing activities 1,577 27,949
Net increase (decrease) in cash and cash equivalents (8,321) 10,039
Cash and Cash Equivalents, at Carrying Value, Including Discontinued Operations 5,627 13,948
Supplemental Disclosures    
Interest paid 55,696 6,741
Income taxes 117 0
Non-Cash investing and financing activities:    
Assumption of Westwood debt 45,146 0
Distribution of Digital Services business to Triton Digital (111,859) 0
Issuance of PIK Notes 30,000 0
Fair value of assumed stock-based compensation for the Merger 1,178 0
Accrual of contingent payment on purchase of business 0 1,000
Acquisition under capital lease 0 41
Preferred Class A [Member]
   
Non-Cash investing and financing activities:    
Issuance of stock related to acquisition of Westwood 9,691 0
Common Class A [Member]
   
Non-Cash investing and financing activities:    
Issuance of stock related to acquisition of Westwood $ 81,830 $ 0