GUARANTOR AND NON-GUARANTOR FINANCIAL INFORMATION (Tables)

9 Months Ended

Sep. 30, 2014

Condensed Consolidating Balance Sheets as at December 31, 2013

	Parent Issuer		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Eliminations			Consolidated
ASSETS
Current assets
Cash and cash equivalents	$	19,461	$	5,422	$	78,741	$	—		$	103,624
Accounts receivable, net	—		—		174,081		—			174,081
Program rights, net	—		—		109,238		—			109,238
Other current assets	2,638		31		42,513		—			45,182
Assets held for sale	—		—		22,661		—			22,661
Intercompany current assets	53,396		2,052		—		(55,448		)	—
Total current assets	75,495		7,505		427,234		(55,448		)	454,786
Non-current assets
Investments in subsidiaries	—		479,435		—		(479,435		)	—
Property, plant and equipment, net	—		—		198,292		—			198,292
Program rights, net	—		—		288,344		—			288,344
Goodwill	—		—		782,870		—			782,870
Broadcast licenses and other intangible assets, net	—		—		223,815		—			223,815
Other non-current assets	3,976		—		9,790		—			13,766
Intercompany non-current assets	1,822,966		315,017		18,887		(2,156,870		)	—
Total non-current assets	1,826,942		794,452		1,521,998		(2,636,305		)	1,507,087
Total assets	$	1,902,437	$	801,957	$	1,949,232	$	(2,691,753	)	$	1,961,873



LIABILITIES AND EQUITY
Current liabilities
Accounts payable and accrued liabilities	$	18,234	$	41		$	272,102	$	—		$	290,377
Current portion of long-term debt and other financing arrangements	—		71			2,040		—			2,111
Other current liabilities	500		—			16,129		—			16,629
Liabilities held for sale	—		—			7,105		—			7,105
Intercompany current liabilities	7,788		45,988			1,672		(55,448		)	—
Total current liabilities	26,522		46,100			299,048		(55,448		)	316,222
Non-current liabilities
Deficiency in excess of investments in subsidiaries	296,351		—			—		(296,351		)	—
Long-term debt and other financing arrangements	620,375		—			342,568		—			962,943
Other non-current liabilities	—		—			33,817		—			33,817
Intercompany non-current liabilities	310,298		1,846,572			—		(2,156,870		)	—
Total non-current liabilities	1,227,024		1,846,572			376,385		(2,453,221		)	996,760
Temporary equity	207,890		—			—		—			207,890
Total equity / (deficit)	441,001		(1,090,715		)	1,273,799		(183,084		)	441,001
Total liabilities and equity	$	1,902,437	$	801,957		$	1,949,232	$	(2,691,753	)	$	1,961,873

Condensed Consolidating Balance Sheets as at September 30, 2014

	Parent Issuer		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Eliminations			Consolidated
ASSETS
Current assets
Cash and cash equivalents	$	3,963	$	1,425	$	67,293	$	—		$	72,681
Accounts receivable, net	—		—		130,106		—			130,106
Program rights, net	—		—		117,632		—			117,632
Other current assets	1,011		255		42,784		—			44,050
Assets held for sale	—		—		1,110		—			1,110
Intercompany current assets	8,185		34,049		32,774		(75,008		)	—
Total current assets	13,159		35,729		391,699		(75,008		)	365,579
Non-current assets
Investments in subsidiaries	—		501,235		—		(501,235		)	—
Property, plant and equipment, net	—		—		172,383		—			172,383
Program rights, net	—		—		248,276		—			248,276
Goodwill	—		—		714,824		—			714,824
Broadcast licenses and other intangible assets, net	—		—		194,997		—			194,997
Other non-current assets	48,858		—		8,854		—			57,712
Intercompany non-current assets	1,525,959		294,694		21,805		(1,842,458		)	—
Total non-current assets	1,574,817		795,929		1,361,139		(2,343,693		)	1,388,192
Total assets	$	1,587,976	$	831,658	$	1,752,838	$	(2,418,701	)	$	1,753,771



LIABILITIES AND EQUITY
Current liabilities
Accounts payable and accrued liabilities	$	8,558	$	253		$	213,343	$	—		$	222,154
Current portion of long-term debt and other financing arrangements	—		—			1,034		—			1,034
Other current liabilities	325		—			32,411		—			32,736
Liabilities held for sale	—		—			1,110		—			1,110
Intercompany current liabilities	2,752		32,624			39,632		(75,008		)	—
Total current liabilities	11,635		32,877			287,530		(75,008		)	257,034
Non-current liabilities
Deficiency in excess of investments in subsidiaries	135,062		—			—		(135,062		)	—
Long-term debt and other financing arrangements	493,921		—			311,918		—			805,839
Other non-current liabilities	24,833		500			38,199		—			63,532
Intercompany non-current liabilities	295,159		1,547,299			—		(1,842,458		)	—
Total non-current liabilities	948,975		1,547,799			350,117		(1,977,520		)	869,371
Temporary equity	219,770		—			—		—			219,770
Total equity / (deficit)	407,596		(749,018		)	1,115,191		(366,173		)	407,596
Total liabilities and equity	$	1,587,976	$	831,658		$	1,752,838	$	(2,418,701	)	$	1,753,771

Condensed Income Statement

Condensed Consolidating Statements of Operations for the nine months ended September 30, 2014

	Parent Issuer			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated
Net revenues	$	—		$	—		$	496,256		$	—		$	496,256
Cost of revenues	—			—			377,711			—			377,711
Selling, general and administrative expenses	12,713			1,135			96,446			—			110,294
Restructuring costs	—			—			8,628			—			8,628
Operating (loss) / income	(12,713		)	(1,135		)	13,471			—			(377		)
Interest income	106,842			20,905			337			(127,730		)	354
Interest expense	(101,104		)	(106,652		)	(24,086		)	127,730			(104,112		)
Loss on extinguishment of debt	(24,161		)	—			—			—			(24,161		)
Foreign currency exchange gain / (loss), net	4,761			(3,946		)	(7,225		)	—			(6,410		)
Change in fair value of derivatives	2,311			(5,579		)	5,579			—			2,311
Other expense, net	—			—			(1,746		)	—			(1,746		)
Loss from continuing operations before tax and loss from investment in subsidiaries	(24,064		)	(96,407		)	(13,670		)	—			(134,141		)
Credit / (provision) for income taxes	—			10,327			(11,275		)	—			(948		)
Loss from continuing operations before loss from investment in subsidiaries	(24,064		)	(86,080		)	(24,945		)	—			(135,089		)
Loss from investment in subsidiaries	(237,552		)	(30,929		)	—			268,481			—
Loss from continuing operations	(261,616		)	(117,009		)	(24,945		)	268,481			(135,089		)
Loss from discontinued operations, net of tax	—			—			(18,532		)	—			(18,532		)
Net loss	(261,616		)	(117,009		)	(43,477		)	268,481			(153,621		)
Net loss attributable to noncontrolling interests	—			—			1,130			—			1,130
Net loss attributable to CME Ltd.	(261,616		)	(117,009		)	(42,347		)	268,481			(152,491		)
Comprehensive loss attributable to CME Ltd.	$	(261,616	)	$	(237,552	)	$	(30,929	)	$	268,481		$	(261,616	)

Condensed Consolidating Statements of Operations for the nine months ended September 30, 2013

	Parent Issuer			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated
Net revenues	$	—		$	—		$	437,214		$	—		$	437,214
Cost of revenues	—			—			408,244			—			408,244
Selling, general and administrative expenses	25,361			2			78,104			—			103,467
Restructuring costs	742			24			8,124			—			8,890
Operating loss	(26,103		)	(26		)	(57,258		)	—			(83,387		)
Interest income	100,210			1,555			552			(101,738		)	579
Interest expense	(66,306		)	(87,441		)	(34,993		)	101,738			(87,002		)
Loss on extinguishment of debt	(23,115		)	—			—			—			(23,115		)
Foreign currency exchange gain / (loss), net	15,520			1,592			(8,206		)	—			8,906
Change in fair value of derivatives	—			—			104			—			104
Other expense, net	—			—			(657		)	—			(657		)
Income / (loss) from continuing operations before tax and loss on investment in subsidiaries	206			(84,320		)	(100,458		)	—			(184,572		)
Credit for income taxes	—			7,990			5,619			—			13,609
Income / (loss) from continuing operations before loss on investment in subsidiaries	206			(76,330		)	(94,839		)	—			(170,963		)
Loss on investment in subsidiaries	(181,301		)	(72,985		)	—			254,286			—
Loss from continuing operations	(181,095		)	(149,315		)	(94,839		)	254,286			(170,963		)
Loss from discontinued operations, net of tax	—			—			(2,361		)	—			(2,361		)
Net loss	(181,095		)	(149,315		)	(97,200		)	254,286			(173,324		)
Net loss attributable to noncontrolling interests	—			—			995			—			995
Net loss attributable to CME Ltd.	(181,095		)	(149,315		)	(96,205		)	254,286			(172,329		)
Comprehensive loss attributable to CME Ltd.	$	(181,095	)	$	(181,301	)	$	(72,985	)	$	254,286		$	(181,095	)

Condensed Consolidating Statements of Operations for the three months ended September 30, 2013

	Parent Issuer			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated
Net revenues	$	—		$	—		$	130,988		$	—		$	130,988
Cost of revenues	—			—			133,841			—			133,841
Selling, general and administrative expenses	14,702			1			22,185			—			36,888
Restructuring costs	742			24			3,426			—			4,192
Operating loss	(15,444		)	(25		)	(28,464		)	—			(43,933		)
Interest income	32,121			741			159			(32,855		)	166
Interest expense	(17,071		)	(29,064		)	(10,536		)	32,855			(23,816		)
Foreign currency exchange gain, net	36,176			956			6,579			—			43,711
Other expense, net	—			—			(232		)	—			(232		)
Income / (loss) from continuing operations before tax and loss on investment in subsidiaries	35,782			(27,392		)	(32,494		)	—			(24,104		)
Credit / (provision) for income taxes	—			2,416			(120		)	—			2,296
Income / (loss) from continuing operations before loss on investment in subsidiaries	35,782			(24,976		)	(32,614		)	—			(21,808		)
Loss on investment in subsidiaries	(58,646		)	(1,295		)	—			59,941			—
Loss from continuing operations	(22,864		)	(26,271		)	(32,614		)	59,941			(21,808		)
Loss from discontinued operations, net of tax	—			—			(1,465		)	—			(1,465		)
Net loss	(22,864		)	(26,271		)	(34,079		)	59,941			(23,273		)
Net loss attributable to noncontrolling interests	—			—			182			—			182
Net loss attributable to CME Ltd.	(22,864		)	(26,271		)	(33,897		)	59,941			(23,091		)
Comprehensive loss attributable to CME Ltd.	$	(22,864	)	$	(58,646	)	$	(1,295	)	$	59,941		$	(22,864	)

Condensed Consolidating Statements of Operations for the three months ended September 30, 2014

	Parent Issuer			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated
Net revenues	$	—		$	—		$	140,149		$	—		$	140,149
Cost of revenues	—			—			113,982			—			113,982
Selling, general and administrative expenses	3,757			608			30,100			—			34,465
Restructuring costs	—			—			342			—			342
Operating loss	(3,757		)	(608		)	(4,275		)	—			(8,640		)
Interest income	33,114			6,800			56			(39,911		)	59
Interest expense	(36,480		)	(33,046		)	(7,488		)	39,911			(37,103		)
Loss on extinguishment of debt	—			—			—			—			—
Foreign currency exchange gain / (loss), net	3,799			(224		)	(9,593		)	—			(6,018		)
Change in fair value of derivatives	—			(3,150		)	3,150			—			—
Other income, net	—			—			22			—			22
Loss from continuing operations before tax and loss from investment in subsidiaries	(3,324		)	(30,228		)	(18,128		)	—			(51,680		)
Credit / (provision) for income taxes	—			2,398			(3,056		)	—			(658		)
Loss from continuing operations before loss from investment in subsidiaries	(3,324		)	(27,830		)	(21,184		)	—			(52,338		)
Loss from investment in subsidiaries	(150,941		)	(2,381		)	—			153,322			—
Loss from continuing operations	(154,265		)	(30,211		)	(21,184		)	153,322			(52,338		)
Loss from discontinued operations, net of tax	—			—			(144		)	—			(144		)
Net loss	(154,265		)	(30,211		)	(21,328		)	153,322			(52,482		)
Net loss attributable to noncontrolling interests	—			—			344			—			344
Net loss attributable to CME Ltd.	(154,265		)	(30,211		)	(20,984		)	153,322			(52,138		)
Comprehensive loss attributable to CME Ltd.	$	(154,265	)	$	(150,941	)	$	(2,381	)	$	153,322		$	(154,265	)

Condensed Cash Flow Statement

Condensed Consolidating Statements of Cash Flows for the nine months ended September 30, 2014

	Parent Issuer			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated
Net cash (used in) / generated from continuing operating activities	$	(13,808	)	$	(34,282	)	$	29,673		$	—		$	(18,417	)

CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of property, plant and equipment	—			—			(20,376		)	—			(20,376		)
Disposal of property, plant and equipment	—			—			162			—			162
Intercompany investing receipts	342,908			41,186			—			(384,094		)	—
Intercompany investing payments	(362,740		)	(30,671		)	—			393,411			—
Net cash (used in) / provided by continuing investing activities	(19,832		)	10,515			(20,214		)	9,317			(20,214		)

CASH FLOWS FROM FINANCING ACTIVITIES:
Repayments of Senior Debt	(400,673		)	—			—			—			(400,673		)
Debt transaction costs	(11,185		)	—			(1,594		)	—			(12,779		)
Issuance of Senior Debt	221,374			—			—			—			221,374
Proceeds from credit facilities	16,801			—			23			—			16,824
Payment of credit facilities and capital leases	—			—			(1,370		)	—			(1,370		)
Issuance of common stock warrants	191,825			—			—			—			191,825
Dividends paid to holders of noncontrolling interests	—			—			(46		)	—			(46		)
Intercompany financing receipts	—			362,740			30,671			(393,411		)	—
Intercompany financing payments	—			(342,908		)	(41,186		)	384,094			—
Net cash provided by / (used in) continuing financing activities	18,142			19,832			(13,502		)	(9,317		)	15,155

Net cash used in discontinued operations - operating activities	—			—			(673		)	—			(673		)
Net cash used in discontinued operations - financing activities	—			—			(107		)	—			(107		)

Impact of exchange rate fluctuations on cash	—			(62		)	(6,625		)	—			(6,687		)
Net decrease in cash and cash equivalents	(15,498		)	(3,997		)	(11,448		)	—			(30,943		)
CASH AND CASH EQUIVALENTS, beginning of period	19,461			5,422			78,741			—			103,624
CASH AND CASH EQUIVALENTS, end of period	$	3,963		$	1,425		$	67,293		$	—		$	72,681

Condensed Consolidating Statements of Cash Flows for the nine months ended September 30, 2013

	Parent Issuer			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated
Net cash (used in) / generated from continuing operating activities	$	(63,923	)	$	225,141		$	(215,953	)	$	—		$	(54,735	)

CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of property, plant and equipment	—			—			(20,884		)	—			(20,884		)
Disposal of property, plant and equipment	—			—			246			—			246
Intercompany investing receipts	566,193			9,323			—			(575,516		)	—
Intercompany investing payments	(544,769		)	(205,886		)	—			750,655			—
Net cash provided by / (used in) continuing investing activities	21,424			(196,563		)	(20,638		)	175,139			(20,638		)

CASH FLOWS FROM FINANCING ACTIVITIES:
Repayments of Senior Debt	(310,322		)	—			—			—			(310,322		)
Debt transactions costs	(639		)	—			(146		)	—			(785		)
Change in restricted cash	20,467			—			—			—			20,467
Proceeds from credit facilities	—			—			826			—			826
Payment of credit facilities and capital leases	—			—			(1,715		)	—			(1,715		)
Issuance of common stock	157,116			—			—			—			157,116
Issuance of preferred stock	200,000			—			—			—			200,000
Equity issuance costs	(5,410		)	—			—			—			(5,410		)
Dividends paid to holders of noncontrolling interests	—			—			(273		)	—			(273		)
Intercompany financing receipts	—			544,769			205,886			(750,655		)	—
Intercompany financing payments	—			(566,193		)	(9,323		)	575,516			—
Net cash provided by / (used in) financing activities	61,212			(21,424		)	195,255			(175,139		)	59,904

Net cash used in discontinued operations - operating activities	—			—			(1,047		)	—			(1,047		)
Net cash provided by discontinued operations - financing activities	—			—			273			—			273

Impact of exchange rate fluctuations on cash	—			139			(573		)	—			(434		)
Net increase / (decrease) in cash and cash equivalents	18,713			7,293			(42,683		)	—			(16,677		)
CASH AND CASH EQUIVALENTS, beginning of period	9,372			2,836			126,471			—			138,679
CASH AND CASH EQUIVALENTS, end of period	$	28,085		$	10,129		$	83,788		$	—		$	122,002