Summary of Significant Accounting Policies (Tables)

9 Months Ended

Nov. 30, 2013

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Calculation of Basic and Diluted Net (loss) Income Per Share from Continuing Operations

The following table sets forth the calculation of basic and diluted net (loss) income per share from continuing operations:

	Nine Months Ended
	November 30, 2012							November 30, 2013
	Net Loss			Shares	Net Loss Per Share			Net Income			Shares	Net Income Per Share
	(amounts in 000’s, except per share data)
Basic net (loss) income per common share:
Net (loss) income available to common shareholders from continuing operations	$	(2,474	)	38,871	$	(0.06	)	$	10,645		40,343	$	0.26
Impact of equity awards	—			—	—			—			3,040	—
Impact of conversion of preferred stock into common stock	—			—	—			(325		)	2,274	—
Diluted net (loss) income per common share:
Net (loss) income available to common shareholders from continuing operations	$	(2,474	)	38,871	$	(0.06	)	$	10,320		45,657	$	0.23

	Three Months Ended
	November 30, 2012					November 30, 2013
	Net Income		Shares	Net Income Per Share		Net Income		Shares	Net Income Per Share
	(amounts in 000’s, except per share data)
Basic net income per common share:
Net income available to common shareholders from continuing operations	$	893	38,976	$	0.02	$	4,273	40,477	$	0.11
Impact of equity awards	—		2,732			—		3,469
Impact of conversion of preferred stock into common stock	—		4,020			—		2,266
Diluted net income per common share:
Net income available to common shareholders from continuing operations	$	893	45,728	$	0.02	$	4,273	46,212	$	0.09

Shares Excluded from Calculation as Effect of Conversion into Shares of Common Stock would be Antidilutive

Shares excluded from the calculation as the effect of their conversion into shares of our common stock would be antidilutive were as follows:

	Three Months Ended November 30,		Nine Months Ended November 30,
	2012	2013	2012	2013
	(shares in 000’s )
6.25% Series A convertible preferred stock	—	—	5,820	—
Equity awards	4,529	1,996	6,944	2,035
Antidilutive common share equivalents	4,529	1,996	12,764	2,035

Summary of Income from Discontinued Operations

A summary of the income from discontinued operations is presented below:

	Three Months Ended November 30,					Nine Months Ended November 30,
	2012			2013		2012			2013
Income (loss) from discontinued operations:
KXOS-FM (Radio)	$	—		$	—	$	32,534		$	—
Emmis Interactive Inc. (Radio)	(1,157		)	—		(3,350		)	—
Slovakia Radio Network (Radio)	260			—		1,023			—
Bulgaria Radio Network (Radio)	(211		)	—		(664		)	—
Sampler Publications (Publishing)	974			—		888			—
Total	(134		)	—		30,431			—
Benefit from income taxes	(3,841		)	—		(9,693		)	—
Total income from discontinued operations, net of tax	$	3,707		$	—	$	40,124		$	—

Summary of Assets and Liabilities of Discontinued Operations

Summary of Assets and Liabilities of Discontinued Operations:

	As of February 28, 2013		As of  November 30, 2013
Current assets:
Cash and cash equivalents	$	579	$	—
Accounts receivable, net	128		—
Prepaid expenses	17		—
Other	38		—
Total current assets	$	762	$	—
Current liabilities:
Accounts payable and accrued expenses	$	2,169	$	—
Total current liabilities	$	2,169	$	—

KXOS-FM (Radio)

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Operating Results of Discontinued Operations

The operations of KXOS-FM had historically been included in the radio segment. The following table summarizes certain operating results of KXOS-FM for all periods presented:

	Three Months Ended November 30,				Nine Months Ended November 30,
	2012		2013		2012		2013
Net revenues	$	—	$	—	$	3,331	$	—
Station operating expenses, excluding depreciation and amortization expense	—		—		27		—
Depreciation and amortization expense	—		—		169		—
Interest expense	—		—		3,358		—
Gain on sale of station	—		—		32,757		—
Benefit from income taxes	955		—		7,431		—

Emmis Interactive Inc. (Radio)

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Operating Results of Discontinued Operations

The operations of Emmis Interactive Inc. had historically been included in the radio segment. The following table summarizes certain operating results of Emmis Interactive Inc. for all periods presented:

	Three Months Ended November 30,				Nine Months Ended November 30,
	2012		2013		2012		2013
Net revenues	$	360	$	—	$	2,743	$	—
Station operating expenses, excluding depreciation and amortization expense	863		—		4,579		—
Depreciation and amortization	—		—		257		—
Impairment loss	—		—		737		—
Loss on sale of business	654		—		654		—
Other income	—		—		134		—

Sampler Publications

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Operating Results of Discontinued Operations

The operations of the Sampler Publications had historically been included in the publishing segment. The following table summarizes certain operating results of the Sampler Publications for all periods presented:

	Three Months Ended November 30,				Nine Months Ended November 30,
	2012		2013		2012		2013
Net revenues	$	1,496	$	—	$	5,435	$	—
Station operating expenses, excluding depreciation and amortization expense	1,154		—		4,758		—
Depreciation and amortization	—		—		44		—
Gain on sale of business	695		—		695		—
Interest expense	63		—		440		—
Benefit for income taxes	3,022		—		2,763		—

Slovakia Radio Network (Radio)

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Operating Results of Discontinued Operations

The operations of our Slovakian radio network had historically been included in the radio segment. The following table summarizes certain operating results of our Slovakian radio network for all periods presented:

	Three Months Ended November 30,				Nine Months Ended November 30,
	2012		2013		2012		2013
Net revenues	$	2,260	$	—	$	7,709	$	—
Station operating expenses, excluding depreciation and amortization expense	1,753		—		5,281		—
Gain on sale of assets	244		—		244		—
Depreciation and amortization	171		—		525		—
Interest expense	393		—		1,192		—
Other income, net	73		—		68		—
Provision for income taxes	136		—		501		—

Bulgaria Radio Network (Radio)

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Operating Results of Discontinued Operations

The operations of our Bulgarian radio network had historically been included in the radio segment. The following table summarizes certain operating results of our Bulgarian radio network for all periods presented:

	Three Months Ended November 30,				Nine Months Ended November 30,
	2012		2013		2012		2013
Net revenues	$	268	$	—	$	826	$	—
Station operating expenses, excluding depreciation and amortization expense	451		—		1,322		—
Depreciation and amortization	27		—		164		—
Other expense, net	1		—		4		—