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Acquisitions And Dispositions (Tables)
12 Months Ended
Feb. 28, 2019
Business Acquisition [Line Items]  
Schedule of Restructuring Reserve by Type of Cost The table below summarizes the activity related to our restructuring charge for the year ended February 28, 2019.

 

 

For the year ended

 

 

 

February 28, 2019

 

Restructuring charges and estimated lease cease-use costs, beginning balance

 

$

 

Restructuring charges and estimated lease cease-use costs, St. Louis radio stations sale

 

 

1,424

 

Payments, net of accretion

 

 

(325

)

Restructuring charges and estimated lease cease-use costs unpaid and outstanding

 

$

1,099

 

 

Schedule of Pro Forma Information

Unaudited pro forma summary information is presented below for the years ended February 28, 2018 and 2019, assuming the dispositions discussed above and related mandatory debt repayments had occurred on the first day of the pro forma periods presented below.

 

 

 

For the year ended February 28,

 

 

 

2018

 

 

2019

 

 

 

(unaudited)

 

 

(unaudited)

 

Net revenues

 

$

116,438

 

 

$

113,420

 

Station operating expenses, excluding depreciation and amortization

 

 

92,918

 

 

 

90,493

 

Consolidated net income

 

 

2,540

 

 

 

1,255

 

Net loss attributable to the Company

 

 

(90

)

 

 

(1,472

)

Net income per share - basic

 

$

(0.01

)

 

$

(0.12

)

Net income per share - diluted

 

$

(0.01

)

 

$

(0.12

)

St Louis  
Business Acquisition [Line Items]  
Schedule Of Disposal Groups Including Discontinued Operations The following table summarizes certain operating results of the St. Louis stations for all periods presented

 

 

 

For the year ended February 28,

 

 

 

2017

 

 

2018

 

 

2019

 

Net revenues

 

$

23,851

 

 

$

24,238

 

 

$

711

 

Station operating expenses, excluding depreciation and amortization expense

 

 

18,464

 

 

 

20,071

 

 

 

505

 

Depreciation and amortization

 

 

502

 

 

 

558

 

 

 

 

Impairment loss

 

 

1,293

 

 

 

 

 

 

 

Gain on sale of radio assets, net of disposition costs

 

 

 

 

 

 

 

 

(32,148

)

Loss on sale of fixed assets

 

 

123

 

 

 

 

 

 

 

Operating income

 

 

3,469

 

 

 

3,609

 

 

 

32,354

 

Interest expense

 

 

2,910

 

 

 

3,379

 

 

 

592

 

Income before income taxes

 

 

559

 

 

 

230

 

 

 

31,762

 

KPWR-FM  
Business Acquisition [Line Items]  
Schedule Of Disposal Groups Including Discontinued Operations The following table summarizes certain operating results of KPWR-FM for all periods presented.

 

 

 

For the year ended February 28,

 

 

 

2017

 

 

2018

 

 

2019

 

Net revenues

 

$

24,379

 

 

$

7,819

 

 

$

 

Station operating expenses, excluding depreciation and amortization expense

 

 

16,933

 

 

 

6,651

 

 

 

 

Depreciation and amortization

 

 

401

 

 

 

63

 

 

 

 

Gain on sale of assets, net of disposition costs

 

 

 

 

 

(76,745

)

 

 

 

Operating income

 

 

7,045

 

 

 

77,850

 

 

 

 

Interest expense

 

 

5,223

 

 

 

2,479

 

 

 

 

Income before income taxes

 

 

1,822

 

 

 

75,371

 

 

 

 

 

Hour Magazines  
Business Acquisition [Line Items]  
Schedule Of Disposal Groups Including Discontinued Operations The following table summarizes certain operating results of the Hour Magazines 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 the Hour Magazines is included in the magazines’ results below.

 

 

 

For the year ended February 28,

 

 

 

2017

 

 

2018

 

 

2019

 

Net revenues

 

$

29,112

 

 

$

 

 

$

 

Station operating expenses, excluding depreciation and amortization expense

 

 

31,076

 

 

 

172

 

 

 

35

 

Depreciation and amortization

 

 

122

 

 

 

 

 

 

 

(Gain) loss on sale of publishing assets, net of disposition costs

 

 

(2,677

)

 

 

141

 

 

 

331

 

Operating income (loss)

 

 

591

 

 

 

(313

)

 

 

(366

)

Interest expense

 

 

179

 

 

 

 

 

 

 

Income (loss) before income taxes

 

 

412

 

 

 

(313

)

 

 

(366

)

 

Terre Haute Cluster  
Business Acquisition [Line Items]  
Schedule Of Disposal Groups Including Discontinued Operations The following table summarizes certain operating results of our Terre Haute radio stations 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 the Terre Haute radio stations is included in the stations’ results below.

 

 

 

For the year ended February 28,

 

 

 

2017

 

 

2018

 

 

2019

 

Net revenues

 

$

2,298

 

 

$

(6

)

 

$

 

Station operating expenses, excluding depreciation and amortization expense

 

 

2,258

 

 

 

24

 

 

 

 

Depreciation and amortization

 

 

117

 

 

 

 

 

 

 

Impairment loss

 

 

79

 

 

 

 

 

 

 

Gain on sale of radio assets, net of disposition costs

 

 

(3,478

)

 

 

 

 

 

 

Operating income (loss)

 

 

3,322

 

 

 

(30

)

 

 

 

Interest expense

 

 

307

 

 

 

 

 

 

 

Income (loss) before income taxes

 

 

3,015

 

 

 

(30

)

 

 

 

 

Texas Monthly  
Business Acquisition [Line Items]  
Schedule Of Disposal Groups Including Discontinued Operations 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.

 

 

 

For the year ended February 28,

 

 

 

2017

 

 

2018

 

 

2019

 

Net revenues

 

$

14,685

 

 

$

(2

)

 

$

 

Station operating expenses, excluding depreciation and amortization expense

 

 

14,465

 

 

 

(78

)

 

 

 

Depreciation and amortization

 

 

84

 

 

 

 

 

 

 

Gain on sale of publishing assets, net of disposition costs

 

 

(17,402

)

 

 

 

 

 

 

Operating income

 

 

17,538

 

 

 

76

 

 

 

 

Interest expense

 

 

1,067

 

 

 

 

 

 

 

Other income

 

 

(37

)

 

 

 

 

 

 

Income before income taxes

 

 

16,508

 

 

 

76