Long-term Debt (Tables)

9 Months Ended

Nov. 30, 2016

Debt Instrument

Schedule of Debt [Table Text Block]

The current calculation of Net Available Proceeds, reinvestments and Term Loan repayments related to the sale of Texas Monthly is as follows:

	Term Loan Repayments Texas Monthly Sale
Gross proceeds from the sale of Texas Monthly	$	25,000
Working capital and other closing adjustments	(747		)
Estimate of transaction costs	(126		)
Estimate of employee-related transaction costs, including maximum reimbursement to buyer for severance	(2,977		)
Subtotal	21,150
Less: Reinvestments - capital expenditures since November 1, 2016	(388		)
Less: Term Loan repayment on November 1, 2016	(15,000		)
Remaining Net Available Proceeds, subject to finalization of estimates and reinvestments	$	5,762

Schedule of Long-term Debt Instruments

Long-term debt was comprised of the following at February 29, 2016 and November 30, 2016:

	February 29, 2016			November 30, 2016
2014 Credit Agreement debt :
Revolver	$	3,000		$	2,000
Term Loan	181,762			156,955
Total 2014 Credit Agreement debt	184,762			158,955
98.7FM non-recourse debt	65,411			61,356
Digonex non-recourse debt (1)	4,714			5,270
Less: Current maturities	(17,573		)	(10,583		)
Less: Unamortized original issue discount	(9,287		)	(7,570		)
Total long-term debt	$	228,027		$	207,428

Schedule Of Maximum Leverage Ratio

Our Total Leverage Ratio and Interest Coverage Ratio (each as defined in the 2014 Credit Agreement) requirements and actual amounts as of November 30, 2016 were as follows:

	As of November 30, 2016
	Covenant Requirement	Actual Results
Maximum Total Leverage Ratio	6.00 : 1.00	5.53 : 1.00
Minimum Interest Coverage Ratio	2.00 : 1.00	2.32 : 1.00

Schedule of Maturities of Long-term Debt

Based on amounts outstanding at November 30, 2016, mandatory principal payments of long-term debt for the next five years and thereafter are summarized below:

Year Ended	2014 Credit Agreement						Digonex		Total
February 28 (29),	Revolver		Term Loan		98.7FM Debt		Notes payable		Payments
2017	$	—	$	—	$	1,398	$	—	$	1,398
2018	—		6,265		6,039		6,199		18,503
2019	—		6,265		6,587		—		12,852
2020	2,000		6,265		7,150		—		15,415
2021	—		6,265		7,756		—		14,021
Thereafter	—		131,895		32,426		—		164,321
Total	$	2,000	$	156,955	$	61,356	$	6,199	$	226,510