Significant Events (Tables)

9 Months Ended

Nov. 30, 2016

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

Pro Forma Results, Business Dispositions

The following table presents unaudited pro forma consolidated financial information as if the closing of our disposition of Texas Monthly and the related $15.0 million mandatory debt repayment had occurred on March 1, 2015 (in thousands, except per share data):

	Three Months Ended   November 30,				Nine Months Ended   November 30,
	2015		2016		2015		2016
Net revenues	$	53,089	$	52,153	$	161,095	$	156,301
Station operating expenses, excluding depreciation and amortization	38,239		41,142		120,386		121,039
Consolidated net income	5,178		1,120		10,698		4,135
Net income attributable to the Company	4,758		539		9,124		3,658
Net income per share - basic	$	0.43	$	0.04	$	0.83	$	0.31
Net income per share - diluted	$	0.40	$	0.04	$	0.77	$	0.30

Disclosure of Long Lived Assets Held-for-sale

Noncurrent assets related to our Terre Haute radio stations as of February 29, 2016 and November 30, 2016 consisted of property and equipment and FCC Licenses as summarized in the following table. Terre Haute assets held for sale of $1.4 million as of November 30, 2016 are included in other current assets in the accompanying condensed consolidated balance sheets as the Company expects to close on the sale of the stations within the next twelve months. No reclassifications were made to classify Terre Haute assets as held for sale as of February 29, 2016.

	As of February 29, 2016	As of November 30, 2016
	(included in Property and equipment, net and Indefinite-lived intangibles)	(included in Other current assets)
Property and equipment, net	809	700
Indefinite-lived intangibles	721	721
Total Terre Haute assets held for sale	1,530	1,421

Texas Monthly

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

Results of Operations of Disposal Groups

The following table summarizes certain operating results of Texas Monthly for all periods presented. Pursuant to Accounting Standards Codification 205-20-45-6, interest expense associated with the required Term Loan repayment associated with the sale of Texas Monthly is included in the magazine's results below. The Term Loan repayment is preliminary and may be adjusted for revisions to estimates and the Company's reinvestment of proceeds of the Texas Monthly transaction. See Note 4 for more discussion.

	Three months ended November 30,					Nine Months ended November 30,
	2015		2016			2015			2016
Net revenues	$	6,525	$	4,146		$	19,454		$	14,774
Station operating expenses, excluding depreciation and amortization expense	5,415		4,284			16,545			14,367
Depreciation and amortization	30		21			87			84
Operating income	1,080		(159		)	2,822			323
Interest expense	287		195			840			782
Other expense (income)	3		—			(361		)	(7		)
Income before income taxes	790		(354		)	2,343			(452		)

Terre Haute Cluster

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

Results of Operations of Disposal Groups

The following table summarizes certain operating results for the Terre Haute radio stations for all periods presented:

	Three months ended November 30,				Nine Months ended November 30,
	2015		2016		2015			2016
Net revenues	$	614	$	849	$	1,950		$	2,035
Station operating expenses, excluding depreciation and amortization expense	556		741		1,883			1,796
Depreciation and amortization	42		29		119			117
Operating income	16		79		(52		)	122