SEGMENT DATA:

9 Months Ended

Sep. 30, 2011

SEGMENT DATA:

SEGMENT DATA:

6. SEGMENT DATA:

We measure segment performance based on operating income (loss).  Our broadcast segment includes stations in 35 markets located predominately in the eastern, mid-western and southern United States.  Our other operating divisions segment primarily earned revenues from sign design and fabrication; regional security alarm operating and bulk acquisitions and real estate ventures.  All of our other operating divisions are located within the United States.  Corporate costs primarily include our costs to operate as a public company and to operate our corporate headquarters location.  Corporate is not a reportable segment.  We had approximately $170.0 million and $166.4 million of intercompany loans between the broadcast segment, operating divisions segment and corporate as of September 30, 2011 and 2010, respectively.  We had $5.0 million and $4.9 million in intercompany interest expense related to intercompany loans between the broadcast segment, other operating divisions segment and corporate for the three months ended September 30, 2011, and 2010, respectively.  For the nine months ended September 30, 2011 and 2010, we had $14.7 million and $14.4 million, respectively, in intercompany interest expense.  Intercompany loans and interest expense are excluded from the tables below.  All other intercompany transactions are immaterial.

A portion of the operating results of Alarm Funding were previously included in discontinued operations in our consolidated results of operations.  It is no longer our intent to divest a portion of Alarm Funding and therefore all of the operations and net assets of Alarm Funding have been classified as continuing operations in our consolidated financial statements as of September 30, 2011.

Financial information for our operating segments are included in the following tables for the three and nine months ended September 30, 2011 and 2010 (in thousands).

For the three months ended September 30, 2011	Broadcast		Other Operating Divisions		Corporate			Consolidated
Revenue	$	169,213	$	11,655	$	—		$	180,868
Depreciation of property and equipment	6,874		331		397			7,602
Amortization of definite-lived intangible assets and other assets	3,474		919		—			4,393
Amortization of program contract costs and net realizable value adjustments	12,833		—		—			12,833
General and administrative overhead expenses	5,019		265		505			5,789
Operating income (loss)	52,407		728		(902		)	52,233
Interest expense	—		634		23,829			24,463
Income from equity and cost method investments	—		2,080		—			2,080

For the three months ended September 30, 2010	Broadcast		Other Operating Divisions			Corporate			Consolidated
Revenue	$	176,621	$	9,831		$	—		$	186,452
Depreciation of property and equipment	8,220		321			481			9,022
Amortization of definite-lived intangible assets and other assets	3,961		726			—			4,687
Amortization of program contract costs and net realizable value adjustments	15,945		—			—			15,945
General and administrative overhead expenses	5,508		232			496			6,236
Operating income (loss)	56,468		605			(978		)	56,095
Interest expense	—		551			30,798			31,349
Loss from equity and cost method investments	—		(1,997		)	—			(1,997		)

For the nine months ended September 30, 2011	Broadcast		Other Operating Divisions		Corporate			Consolidated
Revenue	$	520,051	$	32,073	$	—		$	552,124
Depreciation of property and equipment	21,357		961		1,205			23,523
Amortization of definite-lived intangible assets and other assets	11,568		2,633		—			14,201
Amortization of program contract costs and net realizable value adjustments	38,117		—		—			38,117
General and administrative overhead expenses	18,837		863		1,826			21,526
Operating income (loss)	163,315		1,452		(3,035		)	161,732
Interest expense	—		1,893		76,671			78,564
Income from equity and cost method investments	—		2,906		—			2,906

For the nine months ended September 30, 2010	Broadcast		Other Operating Divisions			Corporate			Consolidated
Revenue	$	516,013	$	25,618		$	—		$	541,631
Depreciation of property and equipment	25,460		942			1,342			27,744
Amortization of definite-lived intangible assets and other assets	12,017		2,070			—			14,087
Amortization of program contract costs and net realizable value adjustments	47,162		—			—			47,162
General and administrative overhead expenses	17,771		675			1,617			20,063
Operating income (loss)	162,508		(530		)	(2,965		)	159,013
Interest expense	—		1,299			87,401			88,700
Loss from equity and cost method investments	—		(2,478		)	—			(2,478		)