XML 34 R6.htm IDEA: XBRL DOCUMENT v2.4.0.8
Condensed Consolidated Statements of Cash Flows (Unaudited) (USD $)
In Thousands, unless otherwise specified
6 Months Ended
Jun. 30, 2014
Jun. 30, 2013
Operating activities    
Net income $ 2,868 $ 6,014
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 13,370 11,738
Amortization of intangible assets 1,468 31
Amortization of deferred loan costs 1,394 823
Amortization of original issue discount related to long-term debt (432) 138
Amortization of restricted stock and stock option awards 3,052 1,464
Amortization of program broadcast rights 5,918 5,663
Payments on program broadcast obligations (7,692) (5,700)
Deferred income taxes 1,735 5,185
Loss (gain) on disposals of assets, net 379 (105)
Loss from early extinguishment of debt 4,897  
Other 97 1,321
Changes in operating assets and liabilities:    
Receivables (2,804) 533
Other current assets 418 (446)
Accounts payable 362 (418)
Other current liabilities 3,363 (1,495)
Accrued interest 946 1,173
Net cash provided by operating activities 29,339 25,919
Investing activities    
Purchases of property and equipment (10,456) (12,488)
Acquisitions of television businesses and broadcast licenses (325,862) (1,329)
Proceeds from asset sales 997 138
Other (2) 10
Net cash used in investing activities (335,323) (13,669)
Financing activities    
Proceeds from borrowings on long-term debt 544,000  
Repayments of borrowings on long-term debt (178,157)  
Deferred and other loan costs (7,267) (14)
Proceeds from issuance of common stock   101
Net cash provided by financing activities 358,576 87
Net increase in cash 52,592 12,337
Cash at beginning of period 13,478 11,067
Cash at end of period $ 66,070 $ 23,404