XML 109 R5.htm IDEA: XBRL DOCUMENT v2.4.0.8
CONSOLIDATED BALANCE SHEETS (USD $)
In Thousands, unless otherwise specified
Feb. 28, 2014
Feb. 28, 2013
CURRENT ASSETS:    
Cash and cash equivalents $ 5,304 $ 8,735
Restricted cash 2,239 1,426
Accounts receivable, net of allowance for doubtful accounts of $523 and $574, respectively 31,000 28,126
Prepaid expenses 8,582 7,674
Deferred tax asset 4,882 0
Other 2,005 3,985
Current assets-discontinued operations 0 762
Total current assets 54,012 50,708
PROPERTY AND EQUIPMENT:    
Land and buildings 25,593 25,544
Leasehold improvements 13,860 12,814
Broadcasting equipment 40,013 37,987
Office equipment and automobiles 31,262 30,072
Construction in progress 239 496
Total property and equipment 110,967 106,913
Less-accumulated depreciation and amortization 78,736 74,360
Total property and equipment, net 32,231 32,553
INTANGIBLE ASSETS:    
Indefinite lived intangibles 150,558 150,522
Goodwill 12,639 12,639
Other intangibles 810 749
Total intangible assets 164,007 163,910
Less-accumulated amortization 548 524
Total intangible assets, net 163,459 163,386
OTHER ASSETS:    
Deferred debt issuance costs, net of accumulated amortization of $217 and $577, respectively 3,178 3,533
Investments 7,181 7,889
Deposits and other 5,287 3,555
Total other assets, net 15,646 14,977
Total assets 265,348 261,624
CURRENT LIABILITIES:    
Accounts payable and accrued expenses 8,958 8,301
Current maturities of long-term debt 12,541 12,126
Accrued salaries and commissions 8,552 7,535
Deferred revenue 11,506 10,862
Share-based compensation arrangement 2,926 0
Other 4,767 3,914
Current liabilities-discontinued operations 0 2,169
Total current liabilities 49,250 44,907
LONG-TERM DEBT, NET OF CURRENT PORTION 114,926 131,494
OTHER NONCURRENT LIABILITIES 8,021 10,052
DEFERRED INCOME TAXES 9,783 38,072
Total liabilities 181,980 224,525
COMMITMENTS AND CONTINGENCIES (NOTE 12)      
SHAREHOLDERS’ EQUITY:    
Additional paid-in capital 580,776 578,555
Accumulated deficit (545,355) (588,836)
Accumulated other comprehensive loss (99) (118)
Total shareholders’ (deficit) equity 35,750 (9,984)
NONCONTROLLING INTERESTS 47,618 47,083
Total equity 83,368 37,099
Total liabilities and equity 265,348 261,624
Class A Common Stock
   
SHAREHOLDERS’ EQUITY:    
Common stock 373 359
Class B Common Stock
   
SHAREHOLDERS’ EQUITY:    
Common stock 46 47
Class C Common Stock
   
SHAREHOLDERS’ EQUITY:    
Common stock 0 0
Series A preferred stock
   
SHAREHOLDERS’ EQUITY:    
Series A convertible preferred stock. $.01 par value; $50.00 liquidation preference per share, aggregate liquidation preference and redemption amount of $46,882 and $46,450 at February 28, 2013 and 2014, respectively; authorized 2,875,000 shares; issued and outstanding 1,337,641 shares at February 28, 2013 and 1,328,991 at February 28, 2014, both of which include 400,000 shares in trust (Note 3) $ 9 $ 9